Kolkata: Ajax Engineering IPO, for which bidding began on Monday, February 10, recorded an overall subscription of 0.28 times till the evening of the first day of bidding. It attracted applications of 0.29 times in the retail category, 0.26 times in QIB, and 0.28 times in the NII category. Ajax Engineering had announced last week that it successfully placed shares worth more than Rs 379 crore to anchor investors, the list of which included heavyweight names such as SBI Mutual Fund, Axis Mutual Fund, HSBC Mutual Fund, Edelweiss Mutual Fund etc. Cumulatively anchor investors picked up 60.3 lakh shares at Rs 629 each.
Ajax Engineering IPO comprises only OFS (offer for sale) shares which are 2.02 crore in number. They are expected to raise Rs 1,269.35 crore for the company. The GMP dropped from Rs 52 on February 9 to Rs 16 on February 10 and has held that level. Ajax Engineering IPO bidding process is set to close on February 12. The allotment fo shares will take place on Thursday, February 13 and listing will take place on Monday, February 17.
Ajax Engineering IPO GMP, price
According to investorgain, the GMP of Ajax Engineering IPO suffered a sharp drop from Rs 52 on February 9 to Rs 16 on February 10. While the listing gain was Rs 8.27% on February 9, it dipped to 2.54% on February 10 (and 11). However, it must be remembered that GMP (Grey market Premium) is an unofficial indicator, changes with time and does not guarantee listing gain or loss. Ajax Engineering IPO price band has been set at Rs 599-629.
Ajax Engineering IPO lot size, allotment, refund dates
The minimum lot size for a retail investor is 23 shares, which will call for an application money of Rs 14,467. For sNII investors, the minimum lot size is 14 lots and involves a commitment of Rs 2,02,538. The amount is Rs 10,12,690 for bNII investors. The refund of application money to unsuccessful bidders will take place on February 14, while the shares will be credited to the demat accounts of successful bidders on the same day. Allotment of shares will be finalised on February 13.
ICICI Securities Limited, Citigroup Global Markets India Private Limited, JM Financial Limited, Nuvama Wealth Management Limited, SBI Capital Markets Limited are the lead managers of the issue. Link Intime India is the registrar.
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Till the evening of February 10 — the first day of bidding — the Rs 1,269.35-crore Ajax Engineering IPO was subscribed 0.28 times overall. The company managed to raise Rs 379 crore from anchor investors. Ajax Engineering IPO GMP was recorded at Rs 16 on February 11, which was at the same level as on February 10. The date off allotment for Ajax Engineering IPO is February 13, while the shares will be listed on BSE and NSE on February 17. Markets Business News – Personal Finance News, Share Market News, BSE/NSE News, Stock Exchange News Today
