Mumbai1 day ago
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Ajax Engineering Limited’s Initial Public Offer i.e. IPO will open on February 10. Investors will be able to do bidding by 13 February for this issue. On February 17, the company shares will be listed on Bombay Stock Exchange (BSE) and National Stock Exchange (NSE).
Through this issue, the company wants to raise the total ₹ 1,269.35 crore. For this, the current investors of Ajax Engineering are selling 2,01,80,446 shares for ₹ 1,269.35 crore through offers for sale. The company is not issuing a single new share for the IPO.
If you are also planning to invest money in it, then we are telling you how much you can invest in it.
How much money can you spend minimum and maximum? Ajax Engineering has fixed the price band of IPO ₹ 599-₹ 629. Retail investors can do bidding for minimum for a lot ie 23 shares. If you apply for 1 lot of IPO’s Upper Prize Band ₹ 629, then you have to invest ₹ 14,467.
At the same time, retail investors can apply for maximum 13 lots i.e. 299 shares. For this, investors will have to invest ₹ 1,88,071 according to the upper prize band.
35% of the issue reserved for retail investors The company has reserved 50% of the IPO for qualified institutional buyers (QIB). Apart from this, 35% share is reserved for non-institutional investors (NII).
Ajax Engineering Limited was established in 1992 Ajax Engineering Limited was established in 1992, which works to create and provide service related service. Ajax Engineering Limited has a variety of equipment at the concrete product, including self-loading concrete mixer, batching plant, transit mixer, boom pump, concrete pump, slip-form pavers, and 3D concrete printers. The company has 51 dealerships in 23 states of India, which provide service at 114 places.
What is IPO? When a company releases its shares for the common people for the first time, it is called Initial Public Offering i.e. IPO. The company needs money to increase business. In such a situation, instead of taking loans from the market, the company raises money by selling some shares to public or issuing new share. For this, the company brings IPO.