Ajwa Projects IPO
Open Date
28 Oct 2026
Close Date
30 Oct 2026
Open Date
28 Oct 2026
Close Date
30 Oct 2026
Min Investment
Lot Size
Issue Size
Price Range
Subscribed
IPO Open Now.

Founded In
2011
Director
Mr. Riyaz Rafiq Padela
Financials of Ajwa Projects IPO
| Key Performance Indicators | Mar 2025 | Mar 2026 | Jun 2026 |
|---|---|---|---|
| Operating Revenue | 36.73 | 48.42 | 12.41 |
| Other Income | 0.14 | 0.13 | 0.03 |
Total Income | 36.87 | 48.56 | 12.44 |
Total Expenses | 31.46 | 41.11 | 10.34 |
| Profit Before Tax | 4.75 | 7.45 | 2.10 |
Total Profit | 3.28 | 5.42 | 1.56 |
All figures are in crores (₹)

Utilisation of Proceeds
All figures are in crores (₹)
| Purpose | Amount |
|---|---|
| The company proposes to utilize a portion of the net proceeds towards acquisition of fabrication and welding machines, cranes, boom lifts, trailers, hydraulic rolling equipment, and vehicles to strengthen execution capabilities, reduce reliance on rented equipment, and improve operational efficiency. | 8 |
| The company intends to utilize net proceeds towards full or partial repayment/prepayment of outstanding borrowings including term loans, business loans, and working capital facilities to reduce indebtedness, lower debt servicing costs, and improve the debt-to-equity ratio. | 9 |
| The company plans to deploy net proceeds towards working capital to support execution-intensive operations across multiple project sites, bridging the funding gap between upfront execution expenses and milestone-based payment realizations from clients. | 4 |
| The company proposes to utilize a portion of the net proceeds for general corporate purposes, subject to the condition that the amount shall not exceed fifteen percent of the total amount raised or a specified cap, whichever is less, in accordance with SEBI ICDR Regulations. | 4 |

- Experienced Management Team: The company's leadership is anchored by Mr. Mohammad Khurshid Alam Khan with over 25 years in fabrication and construction, and Mrs. Zarinabegum Khurshid Alam Khan with more than 18 years in operations, enabling consistent delivery of complex projects with quality and safety.
- Comprehensive Portfolio with Sectoral Diversity: The company offers an integrated portfolio spanning fabrication, piping, erection, pressure equipment, prefabricated structures, maintenance, and civil construction, with successful execution across sectors including oil & gas, steel, power, nuclear, metro rail, and bullet train infrastructure.
- Strong and Diverse Order Book: As of October 05, 2026, the company was executing more than 26 projects with a balance work order value of ₹4,243.45 lakhs, providing strong revenue visibility and reflecting client confidence across multiple sectors.
- Flexible Execution Model (On-Site and Off-Site): The company's operations are adaptable, with works carried out either in fabrication workshops under controlled conditions or directly at client sites, enabling handling of diverse assignments from prefabricated modules to large-scale civil and erection works.
- Integrated Fabrication and Erection Expertise: The company seamlessly integrates fabrication and erection by manufacturing structural frameworks, piping, equipment, and customised components, and undertaking their on-site installation and alignment, delivering end-to-end execution ensuring operational readiness.
- Quality and Safety Framework: The company is certified under ISO 9001:2015 for Quality Management and ISO 45001:2018 for Occupational Health and Safety, with systematic inspections including NDT, pressure testing, and PSV calibration embedded across every stage of the project lifecycle.
- Skilled Workforce and Operational Capability: The company employs 557 personnel including skilled, semi-skilled, and supervisory staff, supported by fabrication workshops and site-based deployment teams, enabling management of projects of diverse scale and complexity across multiple locations simultaneously.

