Kolkata: In the evening of February 11, the second day of the three-day bidding process Ajax Engineering IPO subscribed 0.49 times. The public issue subscribed 0.52 times in the retail category, 0.33 times in QIB, and 0.61 times in the NII category by February 11. Incidentally, on February 10, the first day of bidding, the subscription level stood at 0.28 times overall. At the end of second day of bidding, the issue was subscribed 0.52 times in the retail segment, 0.33 times in QIB and 0.61 times in the NII category.
Ajax Engineering IPO intends to raise Rs 1,269.35 crore and the company is offering only OFS shares, the proceeds of which will not accrue to the company. According to data from investorgain, Ajax Engineering IPO GMP has been showing a continuous decline. and reached Rs 7 on February 12 down from the level of Rs 52 on February 9.
Ajax Engineering IPO GMP
As far as GMP (Grey Market Premium) is considered, investor enthusiasm for Ajax Engineering IPO left much to be desired. It stood at Rs 52 on February 9, indicating a listing gain of 8.27%. It slipped to Rs 16 on February 10, which indicated a listing gain of 2.54% and further dropped too Rs 7 on February 11 and 12 (the last day of bidding) which showed a listing gain of 1.11%. However, it must be kept in mind 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, lot size and allotment date
Each share of Ajax Engineering has been placed in the band Rs 599-629. A retail investor has to invest at least Rs 14,467, since the minimum investible lot has 23 shares. For sNII investors, the minimum lot size needs application money of Rs 2,02,538. The minimum amount for bNII investors is Rs 10,12,690. Unsuccessful applicants will get refund of their money on February 14, while the shares will be credited to the demat accounts of successful bidders on the same day. Share allotment 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 11 — the second day of bidding — the Rs 1,269.35-crore Ajax Engineering IPO garnered a subscription level of 0.49 times. The GMP of the Ajax Engineering IPO was also slipping and it stood at Rs 7 on February 11 and 12, down from Rs 16 on February 11. However, the company successfully raised Rs 379 crore from anchor investors. Markets Business News – Personal Finance News, Share Market News, BSE/NSE News, Stock Exchange News Today
