New IPOs are keeping the stock market lively as companies look to raise capital. The Concrete equipment manufacturer Ajax Engineering is set to open its public issue today , February 10. If you are wondering whether it is worth investing in, let’s take a look at key details of this mainboard issue from GMP to the listings.
Ajax Engineering IPO will open its window for bidding, today, February 10, and will close on February 12. The offering is a book-built issue worth Rs 1,269.35 crore.
Furthermore, it is also important to note that this mainboard IPO is entirely an OFS, meaning that the company itself will not receive any funds from the issue. Instead, the existing shareholders are offloading 2.02 crore equity shares through this sale.
Ajax Engineering IPO: GMP
In the grey market, the shares of Ajax Engineering is currently trading at a premium of Rs 49 per share. This suggests a potential listing price of Rs 678, which is 7.79% higher than the upper end of the IPO price band of Rs 629 per share.
However, it is important to not that this is not the actual listing price and may fluctuate based upon the market sentiment.
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The Ajax Engineering IPO opened its bidding today and has been subscribed 0.02 times so far. The retail category saw a 0.03 times subscription, while the NII category stood at 0.02 times. The QIB category has yet to receive any bids.
Ajax Engineering IPO: Risk factors
Some of the risk factors mentioned by the company in the DRHP filing include –
“We derive a significant majority of our revenue from the sale of self-loading concrete mixers (85.13% of our revenue from operations for the Financial Year 2024). Any decrease in sales of SLCMs or demand for concrete equipment in India could adversely affect our business, results of operations, financial condition and cash flows.”
“Our business is seasonal in nature and any decrease in sales during certain quarters could have an adverse impact on our financial performance.”
“Fluctuations in prices of materials, and disruptions in the timely availability of materials could have an adverse effect on our business,
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