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Listing ceremony of Ajax Engineering Limited was held on the National Stock Exchange.
The share of Ajax Engineering Limited was listed at ₹ 576 below the issue price on the National Stock Exchange (NSE) today. The share was listed at ₹ 593 above 5.72% from the share issue price on Bombay Stock Exchange (BSE). The issue of the IPO of Ajax Engineering was ₹ 629.
This IPO was open to bid from 10 February to 12 February, which was subscribed to the total 6.06 times. In retail category, IPO was 1.94 times, qualified institutional buyers (QIB) category 13.04 times and non-institutional investors (NII) category 6.46 times subscribed in category.
₹ 1,269.35 crore was Ajax Engineering IPO
This issue of Ajax Engineering was a total of ₹ 1,269.35 crore. For this, the investors of the company sold 2,01,80,446 share offers for the entire ₹ 1,269.35 crore through offer for sale. Ajax Engineering did not issue a single fresh share for the IPO.
Retail investors could bidding for maximum 299 shares
Ajax Engineering had fixed the price band of the IPO ₹ 599-₹ 629. Retail investors could do bidding for minimum for 23 shares. If you apply for 1 lot for 1 lot at the rate of ₹ 629, the upper prize band of the IPO, then ₹ 14,467 would have been invested.
At the same time, retail investors could apply for maximum 13 lots i.e. 299 shares. For this, investors would have to invest ₹ 1,88,071 according to the upper prize band.
35% of the issue was reserved for retail investors
The company reserved 50% of the IPO for qualified Institutional Buyers (QIB). Apart from this, 35% share was the reserve for retail investors and the remaining 15% of the remaining 15% for non-institutional investment (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.