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Ajwa Projects Ltd IPO

BSE SME Fixed Price IPO Fresh capital cum OFS Closed
GMP +₹0 +0% Est. Listing ₹203
Issue Price
₹203
Face ₹10
GMP
+₹0
+0% premium
Est. Listing
₹203
GMP based
Subscribed
1.12
⚠️ Moderate
Min Amount
₹121,800
1 lot · 600 shares
Lot Size
600
shares / lot
Allotment
Important Dates
6/6 completed
Open
Close
Allotment
Refund
Demat
Listing
Done
Open Date
28 Oct 2026
Wed Completed
Done
Close Date
30 Oct 2026
Fri Completed
Done
Allotment
02 Nov 2026
Mon Completed
Done
Refund
03 Nov 2026
Tue Completed
Done
Demat Credit
03 Nov 2026
Tue Completed
Today
Listing Date
04 Nov 2026
Wed Today
Issue Details
Pricing & Size
Issue Price
₹203 Face ₹10
Lot Size
600 shares
Min Investment
₹121,800
Total Issue Size
18,74,400 shares (agg. up to ₹38 Cr)
IPO Information
Issue Type
Fixed Price IPO
Sale Type
Fresh capital cum OFS
Listing Exchange
BSE SME
Script / Ticker
-
Allocation Breakdown
Market Maker
94,800
QIB Portion
-
NII / HNI
889200.00
Retail
890400.00
Employee
-
Net Offer to Public
17,79,600 shares (agg. up to ₹36 Cr)
Shareholding Pattern
Pre-Issue Shareholding
-
Post-Issue Shareholding
-
Application Size
CategoryMin LotsSharesAmount
Retail (sNII) 2 1200 2,43,600
HNI / NII 3 1800 3,65,400
Objects of Issue
4 objectives
1
Funding capital expenditure requirements towards acquisition of plant & machinery, transport vehicle/assets
8.10 Cr
2
Repayment or prepayment, in full or in part, of borrowings availed by Company
9.35 Cr
3
Working Capital Requirement
4.00 Cr
4
General Corporate Purposes
4.43 Cr
Lead Managers & Market Maker
Book Running Lead Managers
Wealth Mine Networks Ltd
IPO Timeline
Open
28 Oct
✓ Done
Close
30 Oct
✓ Done
Allotment
02 Nov
✓ Done
Listing
04 Nov
● Active
Registrar Details
Kfin Technologies Ltd
SEBI Registered Registrar & Transfer Agent
Phone
040-79615565
Email
ajwa.ipo@kfintech.com
Company Contact
Email
info@ajwaprojects.com
Phone
0261-2786786
Address
M/71, Silver Spring Near Bhulkabhavan School, Adajan Surat, Gujarat, 395009
Grey Market Premium
LIVE
Current GMP
+₹0
+0% vs Issue Price
Issue Price
₹203
Est. Listing
₹203
Lot Size
600 shares
P&L / Lot
+₹0
GMP is unofficial grey market data. Does not guarantee listing price or returns.
GMP Return Calculator
Estimated Listing
GMP %
Investment (1 Lot)
Total Investment
Expected P&L
ROI
GMP Updates
No GMP updates recorded yet. Every time the GMP changes, the date and time are saved here automatically.
1.12
Overall Sub.
⚠️ Moderate
1.93
Retail
Category-wise Subscription
Category Sub (×) Offered Bid For Amt (Cr)*
QIB — — — —
NII / HNI (Total) 0.32× 8,89,200 2,84,400 ₹5.77 Cr
Retail Investors 1.93× 8,90,400 17,14,800 ₹34.81 Cr
Market Maker * 1× 94,800 94,800 ₹1.92 Cr
Total ** 1.12× 17,79,600 19,99,200 ₹40.58 Cr
* Based on ₹203.00 (upper price band)
NII / HNI Breakdown
Shares Reserved
NII
8,89,200
Retail
8,90,400
Market Maker
94,800
* Shares Offered and Total Amount are indicative. ** Excluding Market Maker portion. Data sourced from exchange bidding platform.
Day-wise Subscription
Day 128 Oct 2026● Live
CategorySub (×)OfferedBid ForAmt (Cr)*
NII / HNI (Total)0.10×8,89,20088,200₹1.79 Cr
Retail Investors0.57×8,90,4005,07,600₹10.30 Cr
Market Maker *1×94,80094,800₹1.92 Cr
Total **0.33×17,79,6005,95,800₹12.09 Cr
* Based on ₹203.00 (upper price band)
Day 229 Oct 2026Day close
CategorySub (×)OfferedBid ForAmt (Cr)*
NII / HNI (Total)0.18×8,89,2001,60,800₹3.26 Cr
Retail Investors1.57×8,90,40013,94,400₹28.31 Cr
Market Maker *1×94,80094,800₹1.92 Cr
Total **0.87×17,79,60015,55,200₹31.57 Cr
* Based on ₹203.00 (upper price band)
Day 330 Oct 2026Day close
CategorySub (×)OfferedBid ForAmt (Cr)*
NII / HNI (Total)0.32×8,89,2002,84,400₹5.77 Cr
Retail Investors1.93×8,90,40017,14,800₹34.81 Cr
Market Maker *1×94,80094,800₹1.92 Cr
Total **1.12×17,79,60019,99,200₹40.58 Cr
* Based on ₹203.00 (upper price band)
Financial Summary
Amount in ₹ Crore
Metric30 Jun 202631 Mar 202631 Mar 2025
Revenue12.4448.5636.87
PAT1.565.423.28
EBITDA2.459.036.41
Net Worth19.2717.7112.29
Total Assets41.9736.3725.57
Reserves15.2713.718.29
Borrowings13.8412.527.96
Key Financial Ratios
8.42
ROE
Return on Equity
7.56
ROCE
Return on Capital Employed
8.42
RONW
Return on Net Worth
12.55
PAT Margin
PAT / Revenue
19.71
EBITDA Mgn
EBITDA / Revenue
0.72
D/E Ratio
Debt to Equity
4.21
P/BV
Price to Book Value
13.56
Pre EPS
EPS Pre-Issue
11.33
Post EPS
EPS Post-Issue
14.97
Pre P/E
P/E Pre-Issue
17.92
Post P/E
P/E Post-Issue
About Ajwa Projects Ltd

Incorporated in 2011, Ajwa Projects is a multi-disciplinary industrial services company delivering end-to-end solutions across fabrication, erection, piping, pressure equipment, prefabricated structures, civil construction, and maintenance. The company specializes in turning project plans into real, functional industrial assets. The company manufacture technological frameworks, industrial buildings, girders, heavy modules, platforms, and crane girders that are critical for plant construction and infrastructure projects. They also fabricate specialised components such as dish ends, crowns, petals, and customised parts, including diesel engine components for railway applications that require a high degree of precision and strict compliance with industry standards.

Key Services:

  • Fabrication: Manufacture and sell structural components, pressure vessels, boilers, tanks, ducts, and precision parts for various industries.
  • Erection: On-site installation and integration of heavy structures, equipment, and piping systems with strict focus on safety and precision.
  • Piping: Fabrication and installation of process and utility pipelines for chemicals, gases, steam, and fluids.
  • Pressure Equipment: Fabrication, assembly, and erection of pressure vessels and related heavy-duty equipment.
  • Civil Construction: Site development, foundations, industrial buildings, silos, tanks, and other civil works.
  • Prefabricated Structures: Modular and portable buildings for industrial and commercial use.
  • Maintenance & Mechanical Services: Preventive maintenance, PSV calibration, NDT testing, blasting & painting, and plant shutdown support.

The company caters to a wide range of industries such as oil & gas, petrochemicals, refineries, power generation, steel, heavy metals, cement, nuclear power, bridges, metro rail, bullet train infrastructure, and other industrial and infrastructure projects.

It has a workforce of over 557 skilled and semi-skilled professionals.

Competitive Strengths:

  • Experienced management team
  • Comprehensive Portfolio with Sectoral Diversity
  • Strong and diverse Order Book: As of Sep 30, 2025, its order book stood at Rs 1,982.05 lakhs.
  • Flexible Execution Model (On-Site and Off-Site)
  • Integrated Fabrication and Erection Expertise
  • Quality and Safety Framework
  • Skilled Workforce and Operational Capability
Frequently Asked Questions
What is the issue price of Ajwa Projects Ltd IPO?
The issue price of Ajwa Projects Ltd IPO is ₹203 per share, face value ₹10.
What is the lot size?
Minimum lot size is 600 shares, requiring ₹121,800.
What are the IPO dates?
Opens 28 Oct 2026, closes 30 Oct 2026.
When is the listing date?
Tentative listing: 04 Nov 2026 on BSE SME.
What is the current GMP?
Current GMP is +₹0, estimated listing ₹203 (+0%). GMP is unofficial.
How to apply?
Apply via ASBA through your bank, or via UPI through any broker app.

Check Allotment Status

Ajwa Projects Ltd IPO · Expected 02 Nov 2026

Check on Registrar
Post-IPO Timeline
Allotment Date
02 Nov 2026
Refund Initiation
03 Nov 2026
Demat Credit
03 Nov 2026
Listing Date
04 Nov 2026
Quick Facts
Closed
GMP Signal
Bullish
+₹0
+0%
Issue Price
₹203
Face ₹10
Lot Size
600
shares / lot
Min Amount
₹121,800
1 lot
Est. Listing
₹203
GMP +₹0
Subscription
Overall1.12×
NII0.32×
Retail1.93×
Key Dates
Open
28 Oct Done
Close
30 Oct Done
Listing
04 Nov Today
Registrar
Kfin Technologies Ltd
A
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