The grey market premium (GMP) for Ajax Engineering’s upcoming IPO has become a hot topic among investors. As of February 8, 2025, the GMP stands at ₹40, reflecting a 6.36% potential gain over its upper price band of ₹629. This signals optimism in the unofficial market, suggesting a strong listing when shares debut on stock exchanges.
Latest Ajax Engineering IPO GMP Trends
Here’s a snapshot of recent grey market activity:
| Date | GMP (₹) | Trend | Subject to Sauda (₹) |
|---|---|---|---|
| 8 Feb 2025 | 40 | Upward ▲ | 500 |
| 7 Feb 2025 | 60 | Steady | 500 |
| 6 Feb 2025 | 60 | Steady | 500 |
| 5 Feb 2025 | 45 | Downward ▼ | 500 |
| 4 Feb 2025 | – | – | – |
The highest GMP recorded so far is ₹60, while the lowest is ₹0. Analysts note fluctuating trends but expect a positive listing due to steady demand.
Understanding Grey Market Premium (GMP)
GMP refers to the unofficial price at which IPO shares trade before listing. A positive GMP (like ₹40) hints at a likely listing gain, while a negative GMP suggests a discount. However, GMP is highly volatile and influenced by market sentiment, making it risky to rely on alone for investment decisions.
Ajax Engineering IPO: Key Highlights
| IPO Open Date: | February 10, 2025 |
| IPO Close Date: | February 12, 2025 |
| Face Value: | ₹1 Per Equity Share |
| IPO Price Band: | ₹[.] to ₹[.] Per Share |
| Issue Size: | Approx ₹[.] Crores |
| Offer for Sale: | Approx 2,28,81,718 Equity Shares |
| Issue Type: | Book Built Issue |
| IPO Listing: | BSE & NSE |
| Retail Quota: | Not more than 35% |
| QIB Quota: | Not more than 50% |
| NII Quota: | Not more than 15% |
Estimated Listing Price: ₹669 (based on current GMP + upper price band).
Ajax Engineering IPO Dates
| IPO Open Date: | February 10, 2025 |
| IPO Close Date: | February 12, 2025 |
| Basis of Allotment: | February 13, 2025 |
| Refunds: | February 14, 2025 |
| Credit to Demat Account: | February 14, 2025 |
| IPO Listing Date: | February 17, 2025 |
About Ajax Engineering
Founded in 1992 as Ajax Fiori Engineering, the Bengaluru-based firm specializes in concrete equipment manufacturing. With over 27,800 units sold across India, Nepal, and Bhutan, it boasts a strong dealer network. A new manufacturing plant in Adinarayanahosahalli is set for completion in 2025, aiming to boost production capacity.
Financial Snapshot (FY 2024):
| Period Ended | 30 Sep 2024 | 31 Mar 2024 | 31 Mar 2023 | 31 Mar 2022 |
|---|---|---|---|---|
| Assets | 1,348.76 | 1,236.14 | 966.73 | 735.31 |
| Revenue | 794.16 | 1,780.07 | 1,172.57 | 771.85 |
| Profit After Tax | 101.02 | 225.15 | 135.90 | 66.21 |
| Net Worth | 995.84 | 917.96 | 713.80 | 578.27 |
| Reserves and Surplus | 984.40 | 906.52 | 702.36 | 575.41 |
| Total Borrowings | – | 6.23 | 10.14 | 7.16 |
(All amounts are in ₹ Crore)
Should You Invest?
While the upward GMP trend and ₹669 listing estimate seem promising, consider these factors:
- Market Risks: Grey market rates can swing rapidly.
- Company Fundamentals: Review Ajax’s financial health, growth plans, and industry position.
- IPO Valuation: Compare the price band with peers.
Final Thoughts
Ajax Engineering’s IPO has generated buzz, but smart investors will weigh GMP trends against solid research. Stay updated on official announcements and market shifts before committing funds.
