Ajax Engineering IPO subscribed 6.44 times on Day 3, shares allotment tomorrow; here’s how to check status online

Ajax Engineering IPO share allotment status is expected to be finalised on February 13 following the decent IPO subscription on the final day. Kedaara Capital-backed Ajax Engineering Ltd launched its initial public offering on February 10 to raise ₹1,269.35 crore from the primary market.

On the final day, the public offer attracted applications for more than 9.11 crore shares against 1.41 crore shares on offer, leading to an overall subscription of 6.44 times.

Retail individual investors placed applications for over 1.35 crore shares compared to their quota of 70.35 lakh shares. The retail portion was booked 1.92 times. The Non-Institutional Investors (NIIs) booked their segment 6.46 times with bids for nearly 1.95 crore shares against the allocation of 30.15 lakh shares. The Qualified Institutional Buyers (QIBs) booked their segment 14.41 times with bids for more than 5.79 crore shares against 40.2 lakh shares on offer.

The company employees booked their quota 2.62 times with bids for over 2 lakh shares against the allocation of 78,947 shares.

Following the successful subscription, the IPO investors are awaiting the finalisation of share allotment. The investors can check the Ajax Engineering IPO share allotment status on the NSE and BSE. The IPO allotment status can also be checked on the website of the issue registrar, Link Intime India.

How to check status on IPO registrar Link Intime India’s website

• Visit Link Intime India Pvt Ltd website: https://www.linkintime.co.in
• Click on ‘Investor Services’ on the main menu and choose ‘Public Issues’
• Select Ajax Engineering Ltd from the dropdown list for company names
• Choose any of these— Application Number, PAN, DP/Client ID, or Account No/IFSC
• Enter relevant details as per the selected option
• Submit to check the allotment status

Steps to check status on NSE

• Open NSE IPO allotment page: https://www.nseindia.com/invest/check-trades-bids-verify-ipo-bids
• Select Equity & SME IPO bid details
• Choose Ajax Engineering Ltd under the symbol ‘AJAXENGG’ from the list of issue names
• Verify PAN and enter the IPO Application Number
• Submit to check the details

Steps to check allotment status on BSE

• Open BSE IPO allotment status page: https://www.bseindia.com/investors/appli_check.aspx
• Choose ‘equity’ as the issue type
• Select Ajax Engineering Ltd from the list of issue names
• Enter PAN details or Application Number
• Click on the ‘submit’ button to check details

Ajax Engineering IPO key details

• Ajax Engineering IPO was a complete Offer-for-Sale (OFS) of 2.02 crore shares.
• The IPO price band was fixed at ₹599 to ₹629 per share.
• The lot size was 23 shares, requiring a minimum investment of ₹14,467 for at least a single lot by retail investors.
• Ajax Engineering Ltd will initiate refunds and transfer of shares to the demat accounts on February 13.
• Ajax Engineering IPO listing has been tentatively fixed as February 17.
• The stock will be listed on the NSE and BSE.

About Ajax Engineering and use of IPO proceeds

Ajax Engineering offers a range of construction equipment, services, and solutions across the value chain. It has developed a wide range of products, including self-loading concrete mixers, transit mixers for transportation, batching plants for concrete production, concrete pumps, boom pumps, and self-propelled boom pumps for the placement of concrete, slip-form pavers, and 3D concrete printers for depositing concrete.

The company caters to the needs of various industrial users in the fields of concrete, cement, crushing, construction, and building materials. It offers 141 concrete equipment variations and has a dealer network with 114 touchpoints in 23 states. As the IPO is a complete OFS issue, the proceeds of the issue will go to selling shareholders.

Ajax Engineering Financials

Ajax Engineering reported a profit after tax of ₹101.02 crore for the April-September period of FY 2024-25. Its revenue from operations stood at ₹794.15 crore in the first six months of the current financial year.

The company posted a PAT of ₹225.14 crore for FY 2023-24 compared to ₹135.9 crore in FY 2022-23. Its revenue stood at ₹1,780 crore in FY24 against ₹1172.5 crore in FY23.

Key Performance Indicators (KPIs)