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AJWA · BSE · Civil Construction
Ajwa Projects IPO opens for subscription from 28 Oct 2026 to 30 Oct 2026. The SME IPO has a price band of ₹203-₹203 , with a face value of ₹10 per share and lot size of 600 shares . The IPO will list on 04 Nov 2026 on BSE.
Ajwa Projects IPO tentative timeline covering IPO opening, closing, basis of allotment, refunds, demat credit, and listing dates.
| Event | Date |
|---|---|
| IPO Open Date | 28 Oct 2026 |
| IPO Close Date | 30 Oct 2026 |
| Basis of Allotment | 02 Nov 2026 |
| Initiation of Refunds | 03 Nov 2026 |
| Credit of Shares to Demat | 03 Nov 2026 |
| Listing Date | 04 Nov 2026 |
Issue Size
1,874,400 shares
(aggregating up to ₹38.13 Cr)
Issue Price
₹203 – ₹203
Face Value
₹10/share
Market Lot
600 shares
Retail Min Investment
₹243,600
Listing At
BSE
Sale Type
both
Fresh Issue
1,405,200 shares
(aggregating up to ₹28.53 Cr)
Offer for Sale
374,400 shares
(aggregating up to ₹7.6 Cr)
Reserved for Market Maker
94,800 shares
(aggregating up to ₹2.00 Cr)
Issue Type
fixed price
Open Date
28 Oct
Close Date
30 Oct
Allotment
02 Nov
Listing
04 Nov
Last updated: 7 hours ago
| Date | IPO Issue Price (₹) | GMP (₹) | Est. Listing Price (₹) | Est. Profit Amount (₹) | Est. Profit % | Last Updated |
|---|---|---|---|---|---|---|
| 30 Oct 2026 Latest | ₹203 | ₹5 | ₹208 | ₹5 |
2.46%
|
12:30 AM |
| 30 Oct 2026 | ₹203 | ₹5 | ₹208 | ₹5 |
2.46%
|
12:00 AM |
Showing the 2 most recent GMP entries.
Ajwa Projects IPO GMP today & full historyLatest snapshot: 29 Oct 2026
| Category | Subscribed (x) | No. of Applications |
|---|---|---|
| NII | 0.18x | - |
| Individual Investors | 1.57x | - |
| Total | 0.87x | - |
Showing the latest subscription snapshot.
View full subscription historyMohammad Khurshid Alam Khan, Zarinbegum Khurshid Alam Khan, Riyaz Rafiq Padela
New to lot sizes and investment limits? Read our guide on IPO lot size and minimum investment.
| Category | Lots | Shares | Amount (₹) |
|---|---|---|---|
| Retail (Min) | 2 | 1,200 | ₹243,600 |
| Retail (Max) | 2 | 1,200 | ₹243,600 |
| S-HNI (Min) | 3 | 1,800 | ₹365,400 |
| S-HNI (Max) | 8 | 4,800 | ₹974,400 |
| B-HNI (Min) | 9 | 5,400 | ₹1,096,200 |
Want to understand how IPO shares are divided between investor categories? Read our guide on IPO reservation structure.
| Category | Shares Offered |
|---|---|
| NII (HNI) Shares Offered | 890,340 (47.50%) |
| Retail Shares Offered | 889,215 (47.44%) |
| Market Maker Shares Offered | 94,800 (5.06%) |
| Total Shares Offered | 1,874,355 (100.00%) |
Ajwa Projects Limited was incorporated as Ajwa Projects Private Limited on 12 March 2011 and is based in Surat, Gujarat. It works in the engineering sector, providing a diversified portfolio of industrial services.
The company is engaged in industrial services and infrastructure projects. Listed peers named in the DRHP include Atmastco Limited.
Revenue rose 31.99% to Rs 48.48 crore in FY26 from Rs 36.73 crore in FY25, and profit after tax rose 68.29% to Rs 5.52 crore from Rs 3.28 crore over the same period, as per the DRHP. The IPO is an SME fixed-price issue proposed to be listed on the BSE SME platform, with the company's shareholding going from 40,00,000 shares before the issue to 55,00,000 shares after it, implying a fresh issue of 15,00,000 equity shares of face value Rs 10 each. The DRHP was filed on 9 October 2025 and approved on 6 January 2026. The issue price and dates have not been announced. Objects-of-the-issue figures were not available at the time of writing.
Standalone · ₹ in Crores
| Particulars | FY Mar 2025 | FY Mar 2026 | FY Jun 2026 |
|---|---|---|---|
| Total Revenue | 36.87 | 48.56 | 12.44 |
| Profit After Tax (PAT) | 3.28 | 5.42 | 1.56 |
| EBITDA | 6.41 | 9.03 | 2.45 |
| Total Assets | 25.57 | 36.37 | 41.97 |
| Net Worth | 12.29 | 17.71 | 19.27 |
| Reserves & Surplus | 8.29 | 13.71 | 15.27 |
| Total Borrowing | 7.96 | 12.52 | 13.84 |
Revenue & Profit Trend
Key ratios per fiscal period
| Particulars | Mar 2026 | Jun 2026 |
|---|---|---|
| RoE Return on Equity Shows how much profit the company makes on the money shareholders have put in. 15% to 20% is healthy in most industries. | 36.15% | 8.42% |
| RoCE Return on Capital Employed Shows the profit earned on all the money used, shareholder funds plus loans. Matters most for factory and infrastructure heavy companies. | 34.75% | 7.56% |
| RoNW Return on Net Worth Shows the profit earned on the company's own net worth. Steady or rising over 3 years is a good sign. | 36.15% | 8.42% |
| PAT Margin Profit After Tax Margin Out of every ₹100 of sales, how much the company keeps after paying all costs, loan interest and tax. | 11.2% | 12.55% |
| EBITDA Margin Earnings Before Interest, Tax, Depreciation and Amortisation Margin Profit from the main business as a share of sales, before loan interest and tax. Compare it with other companies in the same industry. | 18.66% | 19.71% |
| Debt / Equity Debt to Equity How much the company has borrowed against what shareholders own. Above 1x means the loans are bigger than shareholder funds. | 0.71x | 0.72x |
| P/BV Price to Book Value Tells you if the IPO price is above what the company actually owns. 1x to 3x is usually seen as reasonable. | 4.58x | 4.21x |
Issue-level · at the upper price band
| Particulars | Pre-IPO | Post-IPO |
|---|---|---|
| EPS Earnings Per Share Profit the company earns on each share. Post-IPO EPS is usually lower because the issue adds new shares. | ₹13.56 | ₹11.33 |
| P/E Price to Earnings Tells you if the IPO price is fair for what the company earns. Compare it with listed companies in the same sector. | 14.97x | 17.92x |
| Market Cap Market Capitalisation What the whole company is valued at, at the upper price band. Post-IPO counts the new shares the issue creates. | ₹81 Cr | ₹112 Cr |
The basis of allotment for Ajwa Projects IPO is scheduled for 02 Nov 2026. You can check your allotment status using your PAN number or application number on the KFin Technologies Limited portal or BSE.
The Ajwa Projects IPO is expected to open in Oct 2026, subject to SEBI approval. Final dates will be updated once announced officially.
The price band for Ajwa Projects IPO is ₹203.00 - ₹203.00 per share.
As per market sources, Ajwa Projects IPO GMP is currently ₹5.00. GMP is tracked daily in the grey market. GMP indicates unofficial demand but does not guarantee listing gains.
The subscription status for Ajwa Projects IPO stands at 0.87x overall.
The listing date for Ajwa Projects IPO is 04 Nov 2026.
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