Profit Jumps 65% in FY26: Ajwa Projects IPO Opens on October 28; Check Price, Lot Size and Key Details

Surat-based Ajwa Projects Limited is set to launch its initial public offering (IPO) on October 28, 2026, with the subscription window closing on October 30, 2026. The company aims to raise approximately Rs 38 crore through the public issue, which will be listed on the BSE SME platform. The IPO is priced at Rs 203 per equity share.

The proceeds from the fresh issue will be used to purchase plant and machinery, acquire transport vehicles and other assets, repay or prepay certain outstanding borrowings, and support working capital requirements. A portion will also be allocated towards general corporate purposes.

About Ajwa Projects Limited

Established in 2011, Ajwa Projects Limited is a Surat-based industrial engineering and Construction company engaged in fabrication, erection, piping, pressure equipment manufacturing, prefabricated structures, civil construction and maintenance services.

The company's operations primarily involve converting engineering designs into functional industrial structures and equipment. Its product portfolio includes structural frameworks, industrial buildings, girders, heavy modules, platforms and crane girders used in industrial plants and infrastructure projects.

Apart from structural fabrication, the company manufactures specialised engineering components such as dish ends, crowns, petals and customised parts, including diesel engine components used in Railway applications. These products require precision manufacturing and adherence to technical specifications and industry standards.

Ajwa Projects Limited Financial Performance

Ajwa Projects Limited has reported steady growth in revenue and profitability over the past three financial years.

In FY24, the company recorded revenue of Rs 34.38 crore and a profit after Tax (PAT) of Rs 2.95 crore. Revenue increased to Rs 36.87 crore in FY25, while net profit improved to Rs 3.28 crore.

The pace of growth accelerated in FY26, with revenue reaching Rs 48.56 crore and PAT rising to Rs 5.42 crore. This represents revenue growth of approximately 31.7% and profit growth of 65.2% compared with FY25.

For the first quarter of FY27, the company reported revenue of Rs 12.44 crore and a net profit of Rs 1.56 crore, translating into a net profit margin of approximately 12.52%.

Ajwa Projects IPO Details

The IPO comprises 18,74,400 equity shares with a face value of Rs 10 each, offered at Rs 203 per share, aggregating to approximately Rs 38.05 crore.

The issue includes an offer for sale (OFS) worth approximately Rs 8 crore by existing shareholders, while the remaining portion consists of a fresh issue of equity shares. Proceeds from the OFS will go to the selling shareholders and will not be available to the company.

The lot size has been fixed at 600 shares. Retail investors are required to apply for a minimum of two lots, equivalent to 1,200 shares, involving an investment of Rs 2,43,600.

Wealth Mine Networks Limited is acting as the lead manager to the IPO, which is scheduled to close for subscription on October 30, 2026.

Disclaimer: The article is for informational purposes only and not investment advice.