AP

Ajwa Projects Limited IPO

GMP, Subscription, Price, Allotment, Listing Date & AI Prediction

Open

BSE SME

PRICE BAND

Rs 203 - 203

LOT SIZE

1,200

Shares

MIN INVEST

Rs 2.4L

CUT-OFF

Rs 203

per share

Open

28 Oct 2026

Last Day

30 Oct 2026

Allotment

02 Nov 2026

Expected Refund

03 Nov 2026

Listing

04 Nov 2026

GMP Today

4m ago

+18.7%

+Rs 38 premium

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GMP Graph

Est. Listing Price

GMP Based

Rs 241

Issue Price + GMP (Dynamic)

Est. Profit (1 Lot)

GMP Based

+Rs 45,600

+18.7% (1200 shares)

Subscription

0.31x

Day 1 - Live

Sub. Page

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Real-time subscription data

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Current IPO Status: open

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About Ajwa Projects Limited

Industrial EPC and Infrastructure

The company operates from Surat, Gujarat. Its business involves industrial project execution and related engineering services. Available IPO materials identify Mohammad Khurshid Alam Khan, Zarinabegum Khurshid Alam Khan and Riyaz Rafiq Padela as promoters.

IPO_DETAILS_LONG: Ajwa Projects IPO is a BSE SME fixed-price issue at ₹203 per equity share, with a face value of ₹10. The issue comprises 18,74,400 shares aggregating to ₹38.05 crore, including a fresh issue of 15,00,000 shares aggregating to ₹30.45 crore and an offer for sale of 3,74,400 shares aggregating to ₹7.60 crore. The IPO opens on October 28, 2026 and closes on October 30, 2026. Allotment is scheduled for November 2, 2026, and listing is scheduled for November 4, 2026. The fresh issue proceeds are intended for capital expenditure, repayment or prepayment of borrowings, working capital and general corporate purposes.

Issue Details

Total Issue Size

Rs 38 Cr

Issue Size for Retail

Rs 19.03 Cr

Fresh Issue vs OFS

Fresh Issue
Rs 30.45 Cr (80%)
OFS
Rs 7.6 Cr (20%)

Reservation Quota

QIB

0%

Retail

50%

NII

50%

Lead Manager

Wealth Mine Networks Private Limited

Registrar

KFin Technologies Limited

Objects of the Issue (as per DRHP)

  • 1Capital expenditure for acquisition of plant and machinery and transport vehicles/assets: 8.10 Cr
  • 2Repayment or prepayment of company borrowings: 9.35 Cr
  • 3Working capital requirements: 4.00 Cr
  • 4General corporate purposes: 4.43 Cr

Key Performance Indicator (KPI)

KPIJun 30, 2026Mar 31, 2026
ROE8.42%36.15%
ROCE7.56%34.75%
Debt/EquityNA0.71
RoNW8.42%36.15%
PAT Margin12.55%11.20%
EBITDA Margin19.71%18.66%
Price to Book Value-
Check IPO Peer Comparison here.
Pre IPOPost IPO
EPS (Rs)13.569.86
P/E (x)14.9720.58
Promoter HoldingNANA
Market CapRs 111.65 Cr.

Mohammad Khurshid Alam Khan; Zarinabegum Khurshid Alam Khan; Riyaz Rafiq Padela

Ajwa Projects Limited Financials

Company financial data by reporting period. Amounts in Rs crore; ratios and percentages as labelled. A dash means not available, not zero.
MetricFY24FY25FY26
Total Income21.6724.9727.12
Net Profit (PAT)1.011.453.48
EBITDA4.124.928.36
Borrowings13.3922.3215.65
ROE32.48%31.8%33.63%
ROCE17.05%13.95%21.64%
Debt/Equity4.34.890.97
Assets21.5932.6938.26

Company Financials

Financial charts load as you reach this section.

MARKET SENTIMENT SCORE

0
50
100
50
NA

Based on expert reviews, GMP trends & market signals

Expert Reviews & Opinions

Expert reviews for Ajwa Projects Limited IPO will appear here once available.

Reviews are summarized from YouTubers, analysts, news channels, and brokerage firms using AI.

Company Contact Details

M/71, Silver Spring, Near Bhulkabhavan School, Adajan, Surat, Gujarat 395009
0261-2786786
[email protected]
Visit Website

Green Flags

  • Revenue increased from ₹36.73 crore in FY25 to ₹48.42 crore in FY26.
  • PAT increased from ₹3.28 crore in FY25 to ₹5.42 crore in FY26.
  • FY26 EBITDA margin was reported at 18.66%.
  • FY26 RoNW was reported at 36.15%.
  • IPO proceeds include allocations for capital expenditure and repayment of borrowings.

Red Flags

  • Operating cash flow was negative ₹2.88 crore in FY26 despite reported profit growth.
  • Working capital is one of the stated uses of IPO proceeds.
  • The issue includes an OFS of ₹7.60 crore, which goes to selling shareholders rather than the company.
  • Debt/equity was reported at 0.71 for FY26.
  • The issue is priced at ₹203 per share; IPO Central reports a post-issue P/E of 20.58x.

Grey Market Premium

Ajwa Projects Limited IPO GMP Today

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Subscription Status

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Frequently Asked Questions

What is the price band of Ajwa Projects Limited IPO?

The price band is Rs 203-203 per share. One lot contains 1200 shares; its value at the upper price is Rs 2,43,600. Check the issue terms for the minimum application size applicable to your category.

What are the bidding dates for Ajwa Projects Limited IPO?

The scheduled bidding period is 28 Oct 2026 to 30 Oct 2026.

When is Ajwa Projects Limited IPO scheduled to list?

The scheduled listing date is 4 Nov 2026. The actual listing price is determined on the exchange, not by the grey market premium or an AI estimate.

Who is the registrar for Ajwa Projects Limited IPO?

KFin Technologies Limited is the registrar. See the allotment page for the available schedule and official checking link.

Who manages Ajwa Projects Limited IPO?

Lead manager information recorded for this issue: Wealth Mine Networks Private Limited.

Disclaimer

IPOGyani is not SEBI registered and does not provide investment advice. All information is for educational purposes only.

AI predictions are probabilistic estimates based on historical data and market trends. Past performance is not indicative of future results.

GMP (Grey Market Premium) data is sourced from various unofficial channels and may not be accurate. Always verify from multiple sources.

Investors should do their own research (DYOR) and consult a SEBI registered advisor before investing.

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