Dailymirror.news,National, February 6th, 2025: Ajax Engineering Limited is set to launch its initial public offering (IPO) on Monday, February 10, 2025. The company has fixed a price band for the equity shares, ranging from ₹599 to ₹629 per share.

The Anchor Investor Bidding will begin one day before the opening date, on Friday, February 7, 2025, and the Bid/Offer Closing date is set for Wednesday, February 12, 2025.

The offer consists of a total of 20,180,446 equity shares for sale, with significant contributions from major shareholders, including Krishnaswamy Vijay, Kalyani Vijay, Jacob Jiten John, Jacob Hansen Family Trust, Susie John, and Kedaara Capital Fund II LLP.

The IPO will follow the Book Building Process and complies with SEBI ICDR Regulations, offering up to 60% of the Qualified Institutional Buyer (QIB) portion to Anchor Investors on a discretionary basis. The balance equity shares from the Anchor Investor portion will be added to the QIB portion.

In addition, 5% of the Net QIB Portion will be available for allocation to Mutual Funds, with the remaining shares being distributed proportionately to all other QIBs, including mutual funds.

The IPO also has provisions for Non-Institutional Bidders (15% of the net offer) and Retail Individual Bidders (RIBs), with special reservations based on application sizes.

Bidders are required to use the ASBA (Application Supported by Blocked Amount) process, with Anchor Investors exempt from this process. The company plans to list its shares on the BSE and NSE.

Lead Managers to the Offer:

  • ICICI Securities Limited
  • Citigroup Global Markets India Private Limited
  • JM Financial Limited
  • Nuvama Wealth Management Limited
  • SBI Capital Markets Limited

For further information, interested parties can refer to the red herring prospectus dated February 4, 2025.