Ajwa Projects Limited
IPO Details
Subscription
Lot Distribution
Reservation
Company Fin.
₹1(0.49%)
Premium (ELP)
The IPO Subscription process for Ajwa Projects Limited's is actively progressing, with the company targeting 18,74,400 Shares in total fundraising. This comprises 15,00,000 Shares in primary capital and ₹7.60 Cr in secondary market transactions.
Current bidding is confined within the price band of ₹203 to ₹203, with investment lots beginning at 600 shares. The live Subscription status enables real-time investor participation in this public offering.
Investors have until Oct 30, 2026 to submit their applications. Post-Subscription , the allotment will be finalized on Nov 02, 2026, setting the stage for the stock's debut on Nov 04, 2026 at the BSE exchange.
Investors can bid starting from the minimum lot size specified for this IPO, and only in multiples of that lot size. The table below shows the minimum and maximum investment for retail investors and HNIs in terms of lots, quantity, and amount.
Note : "Calculations for ‘Shares Offered’ and ‘Total Amount’ are based on the highest price in the issue price band."
The expected premium (GMP) is based on market buzz and unofficial trading. It should not be considered as the guaranteed listing price. Always refer to the RHP and seek advice from a financial expert before making investment decisions.
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- Experienced Management Team: The Promoters have over 25 and 18 years of experience in fabrication, construction and operations. Their expertise supports integrated fabrication, erection and civil construction services, backed by a skilled technical team focused on quality execution.
- Comprehensive and Diversified Portfolio: The Company provides a wide range of services, including fabrication, piping, erection, pressure equipment, prefabricated structures and civil construction. This enables it to serve multiple stages of industrial projects across sectors such as oil and gas, steel, power, cement, bridges and metro rail.
- Strong and Diverse Order Book: As of October 5, 2026, the Company was executing more than 26 projects with a balance order value of ₹4,243.45 lakhs, as certified by its statutory auditors. This provides revenue visibility and reduces dependence on any single industry.
- Outstanding Legal Proceedings: The Company faces tax proceedings involving ₹4.90 lakhs, while proceedings against the Promoters involve ₹101.32 lakhs. Any adverse decision could negatively affect the Company’s business, operating results and financial condition.
- Customer Concentration Risk: The Company relies heavily on a limited number of customers. In FY2025-26, its top customer contributed 19.05% of revenue from operations, while the top 10 customers accounted for 86.65%, increasing the risk associated with losing key clients.
- Dependence on Suppliers for Raw Materials: The Company relies on client-nominated or limited vendors for steel, cement and other raw materials. In FY2025-26, its top supplier accounted for 10.08% of the cost of materials consumed, exposing the Company to potential supply disruptions and rising input costs.
- Mohammad Khurshid Alam Khan
- Zarinbegum Khurshid Alam Khan
- Riyaz Rafiq Padela
Ajwa Projects Limited
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