Two major IPOs from different sectors – Ajax Engineering and Hexaware Technologies are up for bidding this week.
Ajax Engineering is a Bangalore based company operating in the construction equipment manufacturing sector, while Hexaware Technologies is a global IT services and BPO company. In case you are wondering what’s would be a better choices and worthwhile subscribing, we offer you details of both issues-
Ajax Engineering IPO Vs Hexaware Technologies IPO: GMP update
Here’s a detailed outlook of these two companies based on key parameters such as GMP, price, allotment and other details-
As of the latest, the shares of Ajax Engineering in the grey market are trading at a premium of Rs 36, indicating an estimated listing price of Rs 665 which is 5.72% higher over the issue’s upper price band.
On the other hand, ahead of the opening of Hexaware Technologies on February 12, the shares of the company in the grey market are trading at Rs 5. This suggests a potential listing price of Rs 713 per share, 0.71% higher over the IPO’s upper price band of Rs 708 per share.
However, it is to note that GMP is not the actual listing price and may fluctuate based on the market sentiment.
Ajax Engineering IPO Vs Hexaware Technologies IPO: Price band
Investors can bid for Ajax Engineering IPO in a range of Rs 599 to Rs 629 per equity share. On the other hand, for Hexaware Technologies IPO, the price band has been set between the range of Rs 674 to Rs 708 per share.
Ajax Engineering IPO has a slightly higher lot size of 23 shares, with a lower minimum investment of Rs 14,467 by the retail investors. The sNII category requires 14 lots (322 shares), amounting to an investment of Rs 2,02,538, and for bNII, investors need 70 lots (1,610 shares), requiring an investment of Rs 10,12,690.
In contrast, for Hexaware Technologies IPO, the minimum lot size is 21 shares, requiring a minimum investment of Rs 14,868 by the retail investors. The minimum amount of investment required by retail investors is Rs 14,868. The minimum lot size investment for a sNII is 14 lots (294 shares), amounting to Rs 2,08,152 lakh. For bNII, the minimum investment size is 68 lots (1,428 shares), amounting to Rs 10,11,024.
Ajax Engineering IPO Vs Hexaware Technologies IPO: Issue size and structure of the issue
Ajax Engineering IPO is a Rs 1,269.35 crore issue, while Hexaware Technologies IPO is valued at Rs 8,750 crore.
Both IPOs do not include a fresh issue component, meaning the proceeds will go directly to the selling shareholders rather than the companies themselves.
Ajax Engineering IPO Vs Hexaware Technologies IPO: Key dates to remember
The Ajax Engineering IPO is scheduled to open for subscription on February 10, and will close on February 14,. Following the closure, the allotment of shares will take place on February 17, and the stock is expected to be listed on the Indian bourses on February 21.
On the other side, the Hexaware Technologies IPO will open slightly later, on February 12, and will close on February 16. The allotment process for this IPO is set for February 19, with the listing date scheduled for February 23.
Ajax Engineering IPO Vs Hexaware Technologies IPO: Lead managers and registrars
The lead managers for Ajax Engineering IPO include ICICI Securities, Axis Capital, and HDFC Bank. The registrar of the issue is Link Intime.
Hexaware Technologies IPO is managed by Kotak Mahindra Capital, Morgan Stanley India, and Citigroup Global Markets. Kfin Technologies is the registrar of this mainboard issue.