Ajwa Projects Ltd IPO
IPO Timeline
Category-wise Subscription
| Category | Sub (x) | Offered | Bid For | Amt (Cr)* |
|---|---|---|---|---|
| NII (HNI) | — | 890,400 | — | ₹18 Cr |
| Retail | — | 889,200 | — | ₹18 Cr |
| Market Maker | — | 94,800 | — | ₹2 Cr |
| Σ Total | — | 1,874,400 | — | ₹38 Cr |
Only available investor categories are shown. Amount is auto-calculated when shares offered and issue price are available.
Issue Details
Minimum Investment (Lot-wise)
| Category | Lots | Shares | Amount (₹) |
|---|---|---|---|
| Retail (Min) | 1 | 600 | ₹121,800 |
| Retail (Max) | 13 | 7,800 | ₹1,583,400 |
| S-HNI (Min) | 14 | 8,400 | ₹1,705,200 |
| B-HNI (Min) | 67 | 40,200 | ₹8,160,600 |
Financial Statements Amount in ₹ Crore
| Metric | 30 Jun 2026 | 31 Mar 2026 | 31 Mar 2025 |
|---|---|---|---|
| Revenue | 12 | 49 | 37 |
| EBITDA | 2 | 9 | 6 |
| Profit After Tax | 2 | 5 | 3 |
| Net Worth | 19 | 18 | 12 |
| Total Assets | 42 | 36 | 26 |
| Reserves & Surplus | 15 | 14 | 8 |
| Total Borrowing | 14 | 13 | 8 |
Valuation & Key Ratios
Grey Market Premium (GMP)
GMP is an unofficial grey market indicator and does not guarantee actual listing price. Invest at your own risk.
Objects of the Issue
- Funding capital expenditure requirements towards acquisition of plant & machinery, transport vehicle/assets – 8.10
- Repayment or prepayment, in full or in part, of borrowings availed by Company – 9.35
- Working Capital Requirement – 4.00
- General Corporate Purposes – 4.43
Company Overview
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