Ajwa Projects IPO

Name: Ajwa Projects IPO
Brand: Ajwa Projects
Price: 203.00 INR
Availability: PreOrder

Upcoming SME

Min Investment

₹2,43,600

1200 Shares

Min Investment

₹2,43,600 · 1200 Shares

Next: Bidding opens in 2 days (Oct 28)

Price Band ₹203

Lot Size 600 shares

Issue Size ₹38 Cr

Listing On BSE SME

Market Sentiment

GMP, subscription and the analysis score appear here once grey-market quotes and bidding begin. This section updates automatically.

IPO Details

Issue Price	₹203 per equity share
Face Value	₹10 Per Equity Share
Lot Size	600 shares (Min 2 lots · ₹2,43,600)
Total Issue Size	₹38.05 crore
Fresh Issue	₹30.45 crore
Offer For Sale	₹7.60 crore
Fresh vs OFS	Fresh 80% · to the company OFS 20% · to selling shareholders
Issue Type	Fixed Price Issue
Lead Manager	Wealth Mine Networks Ltd.
Registrar	Kfin Technologies Ltd.
Promoters	Mohammad Khurshid Alam Khan, Zarinbegum Khurshid Alam Khan and Riyaz Rafiq Padela
Listing at	BSE SME

IPO Reservation

Reservation details not available yet

This section updates automatically once data is available.

Market Lot Size

Category	Lots	Shares	Amount (₹)
Retail Minimum	2	1,200	₹2,43,600
Retail Maximum	2	1,200	₹2,43,600
S-HNI Minimum	3	1,800	₹3,65,400

Return Estimator (GMP*)

Lots

1,200 shares

Min 2 lots Max 2 lots

Or your budget

₹

You invest ₹2,43,600 at ₹203/share

Est. listing value — GMP not available yet

Est. gain — Shows once GMP is reported

Allotment chance — Shows once bidding data is in

GMP (Rumour*) is unofficial grey-market data; the actual listing price may differ significantly. Allotment chance is an estimate from current subscription.

Financial Analysis

Financial Data

EPS (Pre)

₹8.21

ROCE

49.06%

RoNW

30.99%

EBITDA Margin

17.27%

Debt/Equity

0.65

Revenue Growth

7.24%

Profit Margin

8.90%

Financial Performance

2025 vs 2024 Revenue +7.2% Profit (PAT) +11.2% Total Assets +2.4%

Metric	2023	2024	2025	June 2025
Revenue	28.80	34.38	36.87	12.15
Expense	27.81	30.27	31.46	10.29
Profit (PAT)	0.61	2.95	3.28	1.38
Total Assets	19.29	25.67	26.29	26.64

Values in Crores (₹)

Peer Comparison

Company	EPS	P/E	RoNW %	NAV	Income
Ajwa Projects This IPO	8.21	-	30.99	-	-
Atmastco Limited	8.04	28.17	15.52	51.84	289.57 Cr
Samay Project Services Limited	3.84	-	22.66	18.85	37.14 Cr

Peer median P/E 28.2x across 1 listed peer

Strengths & Risks

Strengths

Solid profit margin — 8.9%.
Mostly fresh capital — proceeds fund the company's growth, not an exit.

Risks & Concerns

Lists on the exchange's SME platform, where trading is usually thinner than on the main board — selling at your price can be harder.

Compiled from this issue's live GMP, subscription, valuation and financial data, and updated as those figures change. Informational only — not investment advice. Always read the RHP before applying.

Purpose	Amount (Cr)
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

Resources & Documents

IPO Documents

Draft Red Herring Prospectus

Ajwa Projects IPO - Quick Take

Ajwa Projects has fixed the issue price at Rs 203 per share for an issue size of Rs 38 crore. The SME issue is scheduled to open for subscription on October 28, 2026 — 2 days from now.

The issue is promoted by Mohammad Khurshid Alam Khan, Zarinbegum Khurshid Alam Khan and Riyaz Rafiq Padela with Wealth Mine Networks Ltd. acting as lead manager. Net proceeds will primarily be used towards funding capital expenditure requirements towards acquisition of plant & machinery, transport vehicle/assets (Rs 8 crore) and repayment or prepayment, in full or in part, of borrowings availed by Company (Rs 9 crore).

On fundamentals, the company is posting revenue growth of 7.2%, a profit margin of 8.9% in its most recent reported period. Listed peers in this segment include Atmastco Limited (P/E 28.17x) — useful reference points when evaluating the issue's pricing relative to where the broader sector is trading.

All figures below — GMP history, subscription tiers, financials and peers — are aggregated from public disclosures. Always apply through your own broker after reading the RHP.

By IPO Cracker Editorial Team · Editorial Policy · Data Sources

Related guides: What is GMP? · Anchor Investor explained · Allotment Process · How to Apply · Compare with peers

This summary is generated from live market data and company disclosures aggregated from BSE, NSE, SEBI filings (DRHP / RHP) and the registrar's office. It is informational only and not investment advice. Consult a SEBI-registered advisor before investing. How we score IPOs »

Frequently Asked Questions

The issue price of Ajwa Projects IPO is fixed at Rs 203 per share. Face value is Rs 10 per share.

The total issue size of Ajwa Projects IPO is Rs 38 crore, comprising fresh issue of Rs 30 crore and offer for sale (OFS) of Rs 8 crore.

The lot size of Ajwa Projects IPO is 600 shares. The minimum application is 2 lots (1,200 shares), requiring an investment of Rs 2,43,600.

Ajwa Projects IPO opens for subscription on October 28, 2026 and closes on October 30, 2026.

The expected allotment date for Ajwa Projects IPO is November 02, 2026. Refunds for unsuccessful applicants are expected on November 03, 2026. Shares are scheduled to be credited to demat accounts on November 03, 2026.

Ajwa Projects IPO is scheduled to list on November 04, 2026 on BSE.

The registrar for Ajwa Projects IPO is Kfin Technologies Ltd. After the allotment date, you can check your allotment status on the registrar's official website by entering your PAN, application number, or demat account details. Allotment status is also available on the BSE and NSE websites.

The book running lead manager(s) for Ajwa Projects IPO are Wealth Mine Networks Ltd.

The promoter(s) of Ajwa Projects are Mohammad Khurshid Alam Khan, Zarinbegum Khurshid Alam Khan and Riyaz Rafiq Padela.

You can apply for Ajwa Projects SME IPO online before 30 Oct 2026 through any UPI-enabled broker app (Zerodha, Groww, Upstox, Angel One, ICICI Direct, HDFC Securities, or any SEBI-registered broker), or via your bank's ASBA-enabled net banking. The minimum retail investment is Rs 2,43,600 for 2 lots (1,200 shares). Steps: (1) Open your broker app or your bank's ASBA portal. (2) Search for Ajwa Projects in the IPO section — the issue must be in the Open window to apply. (3) Enter your bid: select the number of lots (minimum 2 lots of 600 shares each) and bid at the fixed issue price. (4) Approve the UPI mandate that arrives on your bidding bank account — this blocks the application amount until allotment, and the funds stay in your account until shares are allotted. Allotment is finalized on T+1, the working day after the close date, and the shares list on T+3. See our How to Apply for an IPO guide for step-by-step screenshots, and the ASBA vs UPI Mandate explainer for how the payment block works.

The full breakdown is on this page, and our How We Score IPOs guide explains the method. This is a summary of public data, not investment advice or a recommendation to apply. Read the RHP and consult a SEBI-registered investment adviser before investing.

Ajwa Projects IPO GMP — What It Means

No active grey market premium has been recorded for Ajwa Projects IPO yet. GMP is an unofficial, dealer-quoted indicator of expected listing-day demand — not a guaranteed listing price — and it can change quickly once bidding opens.

See the full Ajwa Projects GMP history and trend, or learn how grey market premium works and how reliable it is.

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