Mon Feb 10 11:00:00 UTC 2025: ## Two Major IPOs Hit the Market This Week: Ajax Engineering and Hexaware Technologies

**Mumbai, India –** Investors are gearing up for a busy week as two significant Initial Public Offerings (IPOs) from different sectors prepare to launch. Bangalore-based construction equipment manufacturer Ajax Engineering and global IT services and BPO company Hexaware Technologies are both seeking to raise capital through their IPOs.

Ajax Engineering’s IPO, valued at ₹1,269.35 crore, opens February 10th and closes February 14th. The price band is set between ₹599 and ₹629 per share, with a minimum investment of ₹14,467 for retail investors. Grey market premiums suggest a potential listing price of ₹665. The allotment is scheduled for February 17th, with listing expected on February 21st. Lead managers include ICICI Securities, Axis Capital, and HDFC Bank, and Link Intime is the registrar.

Hexaware Technologies, with a significantly larger IPO valued at ₹8,750 crore, will open on February 12th and close on February 16th. Its price band is ₹674-₹708 per share, requiring a minimum investment of ₹14,868 from retail investors. Grey market indicators point to a possible listing price around ₹713. The allotment will occur on February 19th, with the listing scheduled for February 23rd. Kotak Mahindra Capital, Morgan Stanley India, and Citigroup Global Markets are the lead managers, and Kfin Technologies is the registrar.

Importantly, neither IPO involves a fresh issue; proceeds will go directly to existing shareholders. While grey market premiums offer potential insights, they are not indicative of actual listing prices, which are subject to market conditions. Investors are advised to conduct thorough due diligence before participating.

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