Ajwa Projects IPO: GMP, Allotment Status, Subscription & Price Band
SME IPO · Listed
By IPO GMP Status desk · Updated 4 November 2026 · How we compile these figures
The Ajwa Projects IPO is an SME issue that was open for bidding from 28 October 2026 to 30 October 2026. The price band is ₹203 per share, and the minimum application is one lot of 600 shares (₹1,21,800 at the top of the band). The issue size is ₹38.05 crore.
Key takeaways
- GMP has slipped from ₹10 to ₹1 over 9 days.
- Subscribed 1.12x — less than the 28.3x average of recent SME issues.
- About 1 retail application in 2 can expect a lot; more family PANs mean more chances.
- Listed +0.0% on the issue price, falling short of the grey market's estimate.
Ajwa Projects IPO GMP today
The last grey market premium before listing was ₹1 per share, which puts the estimated listing price at ₹204, a 0.5% premium to the upper price band. In the grey market it has been quoted between ₹1 and ₹38. GMP is an unofficial, unregulated quote — a sentiment reading, not a promise of the listing price.
Minimum investment and expected profit
The minimum investment is one lot of 600 shares, which costs ₹1,21,800 at the upper price band of ₹203. At the last GMP of ₹1 per share, one lot points to an estimated profit of ₹600 on listing.
Subscription status
By the close, bids came to 1.12 times the shares on offer. By category: non-institutional investors (NII) 0.32 times; retail investors 1.93 times. Demand was strongest from retail investors.
| Category | Subscribed |
|---|---|
| Non-institutional (NII) | 0.32 times |
| Retail (RII) | 1.93 times |
| Total | 1.12 times |
Ajwa Projects GMP trend
Since 26 October the grey market premium has fallen from ₹10 to ₹1.
| Date | GMP | Expected gain | Subscribed |
|---|---|---|---|
| 4 Nov | ₹1 | +0.5% | 1.12x |
| 3 Nov | ₹1 | +0.5% | 1.12x |
| 2 Nov | ₹1 | +0.5% | 1.12x |
| 1 Nov | ₹1 | +0.5% | 1.12x |
| 31 Oct | ₹1 | +0.5% | 1.12x |
| 30 Oct | ₹2 | +1.0% | 1.12x |
| 29 Oct | ₹5 | +2.5% | 0.87x |
| 28 Oct | ₹35 | +17.2% | 0.40x |
| 27 Oct | ₹38 | +18.7% | — |
| 26 Oct | ₹10 | +4.9% | — |
Key dates
| Opens | 28 October 2026 |
|---|---|
| Closes | 30 October 2026 |
| Allotment | 2 November 2026 |
| Listing | 4 November 2026 |
Ajwa Projects IPO allotment status
The basis of allotment was fixed on 2 November 2026. Applied from multiple PAN cards? Save the PANs you applied with — yours and your family's — on our allotment page, and one tap checks Ajwa Projects IPO allotment status for all of them at once.
Check Ajwa Projects IPO allotment for multiple PANs →
Chances of Ajwa Projects IPO allotment
Retail investors bid for Ajwa Projects 1.93 times over. With demand like that, retail shares go by lottery — one minimum lot to each winning application — so roughly 1 application in 2 is allotted (about 52%). Every PAN is a separate application, so applying from more family members' PANs, each with its own demat account, raises the chance that at least one is allotted. A rough guide, not a promise: the registrar's draw decides.
| PANs applied | Chance at least one is allotted |
|---|---|
| 1 PAN | 52% |
| 2 PANs | 77% |
| 3 PANs | 89% |
| 5 PANs | 97% |
Listing
Ajwa Projects listed on 4 November 2026 at ₹203, a gain of 0.00% on the issue price of ₹203. The grey market had pointed to ₹204, so the listing fell short of the GMP estimate.
Compared with recent IPOs
The last 10 SME IPOs listed at an average loss of 1.5%, and 2 of 10 met or beat their GMP estimate. See every result on the GMP performance tracker.
Ajwa Projects IPO: frequently asked questions
What is the Ajwa Projects IPO GMP?
The last grey market premium before listing was ₹1 per share, which puts the estimated listing price at ₹204, a 0.5% premium to the upper price band. In the grey market it has been quoted between ₹1 and ₹38. GMP is an unofficial, unregulated quote — a sentiment reading, not a promise of the listing price.
What is the Ajwa Projects IPO price band and lot size?
The price band is ₹203 per share and one lot is 600 shares.
What is the minimum investment for the Ajwa Projects IPO?
The minimum investment is one lot of 600 shares, which costs ₹1,21,800 at the upper price band of ₹203. At the last GMP of ₹1 per share, one lot points to an estimated profit of ₹600 on listing.
How many times was the Ajwa Projects IPO subscribed?
By the close, bids came to 1.12 times the shares on offer. By category: non-institutional investors (NII) 0.32 times; retail investors 1.93 times. Demand was strongest from retail investors.
When is the Ajwa Projects IPO allotment date?
The basis of allotment is on 2 November 2026.
What are the chances of getting Ajwa Projects IPO allotment?
Retail was subscribed 1.93 times, so roughly 1 retail application in 2 gets a lot (about 52%). With 2 PANs about 77%, 3 PANs about 89%, 5 PANs about 97% — a rough guide; the registrar's lottery decides.
How do I check Ajwa Projects IPO allotment status?
Add your PANs on the IPO GMP Status allotment page and press Check once the allotment is out, or look it up on the registrar's website with your PAN or application number.
How to check Ajwa Projects IPO allotment status for multiple PAN cards?
Add every PAN you applied with — your own and your family members' — on the IPO GMP Status allotment page once. When the Ajwa Projects allotment is out, one Check shows the result for all of them together, without opening the registrar's site for each PAN. The PANs stay only in your browser.
When will Ajwa Projects IPO list?
The listing date is 4 November 2026.
What was the Ajwa Projects IPO listing price?
Ajwa Projects listed on 4 November 2026 at ₹203, a gain of 0.00% on the issue price of ₹203. The grey market had pointed to ₹204, so the listing fell short of the GMP estimate.
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Live figures
The GMP, subscription and dates above come from the same record as our Ajwa Projects IPO page, which shows them live with the full subscription break-up and the prospectus. Nothing here is investment advice; see the disclaimer.