Ajwa Projects IPO Details
| IPO Open Date | October 28, 2026 |
| IPO Close Date | October 30, 2026 |
| Face Value | ₹10 Per Equity Share |
| IPO Price Band | ₹203 Per Share |
| Issue Size | Approx ₹38.05 Crores |
| Fresh Issue | Approx ₹30.45 Crores |
| Offer for Sale: | Approx 3,74,400 Equity Shares |
| Issue Type | Fixed Price Issue |
| IPO Listing | BSE SME |
| DRHP Draft Prospectus |  |
| RHP Draft Prospectus | |
Ajwa Projects IPO Review & Key Points
- Review:
Ajwa Projects IPO Market Lot
The Ajwa Projects IPO minimum market lot is 1200 shares with ₹2,43,600 application amount.
| Application | Lot Size | Shares | Amount |
| Retail Minimum | 2 | 1200 | ₹2,43,600 |
| Retail Maximum | 2 | 1200 | ₹2,43,600 |
| S-HNI Minimum | 3 | 1800 | ₹3,65,400 |
IPO Reservation
| Investor Category | Share Offered | -% Shares |
| Anchor Investor | – Shares | -% |
| QIB (Ex. Anchor) | – Shares | -% |
| NII Shares Offered | – Shares | 50% |
| Retail Shares Offered | – Shares | 50% |
Ajwa Projects IPO Anchor Investors
| Anchor Bidding Date | 2026 |
| Anchor Investors List | |
| Shares Offered | [.] Shares |
| Anchor Size | [.] Cr. |
| lock-in period end date 50% shares (30 Days) | 2026 |
| lock-in period end date 50% shares (90 Days) | 2026 |
Ajwa Projects IPO Dates
The Ajwa Projects IPO date is October 28 and the close date is October 30. The Ajwa Projects IPO allotment will be finalized on November 2 and the IPO listing on November 4.
| IPO Open Date: | October 28, 2026 |
| IPO Close Date: | October 30, 2026 |
| Basis of Allotment: | November 2, 2026 |
| Refunds: | November 3, 2026 |
| Credit to Demat Account: | November 3, 2026 |
| IPO Listing Date: | November 4, 2026 |
Promoters and Holding Pattern
The promoters of the company are Mohammad Khurshid Alam Khan, Zarinbegum Khurshid Alam Khan and Riyaz Rafiq Padela.
| Particular | Pre IPO Shares | Pre IPO % Shares | Post IPO Shares | Post IPO % Shares |
| Promoter and Promoter Group | – | 98.9% | – | 65.12% |
| Others* | – | 1.10% | – | 34.88% |
| Total | 40,00,000 | 100% | 55,00,000 | 100% |
Objects of the Issue & Utilisation of Proceeds
| Purpose | Crores |
| 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 |
About Ajwa Projects
To be updated soon
Company Financials
Amount ₹ in Crores
| Period Ended | Revenue | Expense | PAT | Assets |
| 2023 | ₹28.80 | ₹27.81 | ₹0.61 | ₹19.29 |
| 2024 | ₹34.38 | ₹30.27 | ₹2.95 | ₹25.67 |
| 2025 | ₹36.87 | ₹31.46 | ₹3.28 | ₹26.29 |
| June 2025 | ₹12.15 | ₹10.29 | ₹1.38 | ₹26.64 |
Company Valuation – FY2025
Check Ajwa Projects IPO valuations detail like Earning Per Share (EPS), Price/Earning P/E Ratio, Return on Net Worth (RoNW), and Net Asset Value (NAV) details.
| KPI | Values |
| ROE: | -% |
| ROCE: | 49.06% |
| EBITDA Margin: | 17.27% |
| PAT Margin: | 8.94% |
| Debt to equity ratio: | 0.65 |
| Earning Per Share (EPS): | ₹8.21 (Basic) |
| Price/Earning P/E Ratio: | N/A |
| Return on Net Worth (RoNW): | 30.99% |
| Net Asset Value (NAV): | ₹- |
Peer Group Comparison
| Company | EPS | PE Ratio | RoNW % | NAV | Income |
| Atmastco Limited | 8.04 | 28.17 | 15.52% | 51.84 | 289.57 Cr. |
| Samay Project Services Limited | 3.84 | NA | 22.66% | 18.85 | 37.14 Cr. |
IPO Lead Managers aka Merchant Bankers
- Wealth Mine Networks Ltd.
Company Address
Ajwa Projects Ltd.
M/71,
Silver Spring Near Bhulkabhavan School,
Adajan
Surat, Gujarat, 395009
Phone: 0261-2786786
Email: [email protected]
Website: https://www.ajwaprojects.com/
IPO Registrar
Kfin Technologies Ltd.
Phone: 040-79615565
Email: [email protected]
Website: https://ipostatus.kfintech.com/
Ajwa Projects IPO FAQs
What is Ajwa Projects IPO?
Ajwa Projects IPO is SME IPO. The company is going to raise ₹38.05 Crores via IPO. The issue is priced at ₹203 per equity share. The IPO is to be listed on BSE SME.
When Ajwa Projects IPO will open for subscription?
The IPO is to open on October 28, 2026 for QIB, NII, and Retail Investors. The IPO will close on Octoober 30, 2026.
What is Ajwa Projects IPO Investors Portion?
The investors’ portion for QIB is %, NII is 50%, and Retail is 50%.
How to Apply the Ajwa Projects IPO?
You can apply for Ajwa Projects IPO via ASBA online via your bank account. You can also apply for ASBA online via UPI through your stock brokers. You can also apply via your stock brokers by filling up the offline form.
What is Ajwa Projects IPO Issue Size?
Ajwa Projects IPO issue size is ₹38.05 crores.
What is Ajwa Projects IPO Price Band?
Ajwa Projects IPO Price Band is ₹203.
What is Ajwa Projects IPO Lot Size?
The minimum bid is 1200 Shares with ₹2,43,600 amount.
What is the Ajwa Projects IPO Allotment Date?
Ajwa Projects IPO allotment date is November 2 2026.
What is the Ajwa Projects IPO Listing Date?
Ajwa Projects IPO listing date is November 4, 2026. The IPO is to list on BSE SME.
Note: The Ajwa Projects IPO price band and date are officially announced. The (Ajwa Projects IPO grey market premium) will be added to the IPO GMP page as it will start).
