Ajax Engineering Limited is set to launch its Initial Public Offering (IPO) soon. The company has set the price band at ₹599 to ₹629 per share. Investors can bid for shares within this range during the subscription period.
The IPO comprises a fresh issue of ₹400 crore and an Offer for Sale (OFS) of ₹415 crore by existing shareholders.
Key Dates for the IPO
- IPO Subscription Opens: Monday, February 10
- IPO Subscription Closes: Wednesday, February 12
- Anchor Investor Allocation: Friday, February 07
- Basis of Allotment Finalization: Thursday, February 13
- Refund Initiation & Demat Credit: Friday, February 14
- Expected Listing Date: Monday, February 17
Lot Size and Investment Requirements
The lot size for Ajax Engineering IPO is 23 shares. Investors must bid for a minimum of one lot (23 shares) and in multiples thereafter.
IPO Reservation Details
- 50% of the issue is reserved for Qualified Institutional Buyers (QIBs).
- 15% is allocated to Non-Institutional Investors (NIIs).
- 35% is reserved for Retail Investors.
The shares are expected to list on BSE and NSE on February 17.
Ajax Engineering is a leading player in the industrial valves industry, supplying to major sectors such as oil & gas, power, petrochemicals, and fertilizers. The company has a strong domestic presence and exports its products to international markets.
Investors should carefully analyze the company’s financials and market position before making an investment decision in Ajax Engineering IPO.
