PNN

Surat (Gujarat) [India], October 27: Surat, Gujarat-based Ajwa Projects Limited is a company providing comprehensive solutions in various fields, including fabrication, erection, piping, pressure equipment, prefabricated structures, civil construction and maintenance. The company is bringing its IPO on the BSE SME platform to finance capital expenditure requirements for the purchase of plant and machinery, transport vehicles/assets, repay or prepay, in full or in part, loans taken by the company, meet working capital requirements and fulfil general corporate purposes.

Business activities

Incorporated in 2011, Ajwa Projects Limited is a multidisciplinary industrial services company providing comprehensive solutions in various fields, including fabrication, erection, piping, pressure equipment, prefabricated structures, civil construction and maintenance. The company specialises in converting project plans into actual, functional industrial assets. The company manufactures technical frameworks, industrial buildings, girders, heavy modules, platforms and crane girders, which are important for plant construction and infrastructure projects. The company also manufactures specialised components such as dish ends, crowns, petals and customised parts, including diesel engine components for railway applications. These require a high level of precision and strict compliance with industry standards, in which the company specialises.

Financial performance

According to the balance sheet, the company recorded total revenue of Rs. 3,438.26 lakh and net profit after tax of Rs. 294.60 lakh in FY 2024. In FY 2025, the company recorded total revenue of Rs. 3,686.86 lakh and net profit after tax of Rs. 328.29 lakh. In FY 2026, the company earned total revenue of Rs. 4,855.57 lakh and net profit after tax of Rs. 542.24 lakh. In the first quarter of FY 2027, the company recorded total revenue of Rs. 1,243.86 lakh and net profit after tax of Rs. 155.76 lakh. In the first quarter of FY 2027, the company achieved a net profit margin after tax of approximately 12.52 percent.

Information regarding the IPO

Ajwa Projects Limited's IPO will open on October 28 and close on October 30, 2026, on the BSE SME platform. The company is issuing 18,74,400 equity shares with a face value of Rs. 10 each at a price of Rs. 203 per share to raise approximately Rs. 38 crore. Of this, the company's shareholders will raise Rs. 8 crore by selling shares through an Offer for Sale. The market lot size of the IPO is 600 shares, and retail investors will have to apply for two lots. Wealth Mine Networks Limited is acting as the lead manager for the company's IPO.

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