Checked · GMP unchanged since
Ajwa Projects IPO GMP is ₹35 as of 29 Oct, 09:35 pm — expected profit +17.2% on the ₹203 upper band. The premium has ranged ₹0–₹38 since 26 Oct, changing 3 times.
GMP is an unofficial, unregulated datapoint reported by third parties — not a price, a forecast, or investment advice.
| ₹ crore | 2023 | 2024 | 2025 |
|---|---|---|---|
| Net profit (PAT) | ₹0.61 | ₹2.95 | ₹3.28 |
| Application | Shares | Amount at ₹203 |
|---|---|---|
| Individual investor (min)minimum application | 1,200 | ₹2,43,600 |
The minimum application is 1,200 shares, ₹2,43,600 at the ₹203 cut-off. Since 1 July 2025 SME issues take a minimum application of ₹2,00,000 or more from individual investors; the HNI minimum is set in the RHP. Amounts are shown at the upper band because applications are made at the cut-off price.
Strengths and risk factors from this issue’s prospectus aren’t available yet.
Allotment is decided and published by the issue’s registrar, not by the exchange and not by alphave. For Ajwa Projects, the registrar is KFin TechnologiesLimited.
Allotment and refund dates follow SEBI’s T+3 listing timeline in trading days and are tentative until the registrar and the exchange confirm them. alphave does not hold allotment results — only the registrar can show whether an application was allotted.
The registrar publishes allotment on its own portal: KFintech. Your bank will also show the blocked amount released if shares were not allotted.
The last grey market premium reported for the Ajwa Projects IPO is ₹35, as of 29 Oct, 9:35 pm. Against the ₹203 upper band that is +17.2%. GMP is an unofficial, unregulated datapoint reported by third parties — not a price, a prediction, or investment advice.
Adding the ₹35 premium to the ₹203 upper band gives an implied price of ₹238. That is only what unregulated grey-market dealers are quoting today; the listing price is discovered on the exchange in the pre-open session on listing day and routinely differs from it.
No. The grey market is an informal, over-the-counter market between private dealers that is not operated or supervised by NSE, BSE or SEBI. No trade settles through a clearing corporation and no dealer is obliged to honour a quote, so the premium can change sharply within a day or disappear after bidding closes.
The premium is checked about every 20 minutes between 8 am and 10 pm IST, every day while the issue is live, from a third-party grey-market reporter. The history table adds a row only when the premium changes, with the date and time it changed, how much it moved and the listing price it implies.
The registrar processes the allotment and the refunds. Contact details are as printed in the offer document; the exchange and your broker cannot change an allotment.
Grey Market Premium is the price at which an unlisted IPO application or share changes hands informally, before the stock is listed on the exchange. It is quoted as a rupee figure over the issue price: a premium of ₹35 on a ₹203 upper band means the grey market is dealing at ₹238.
The grey market is an over-the-counter market between private dealers. It is not operated or supervised by NSE, BSE or SEBI, no trade is settled through a clearing corporation, and no dealer is obliged to publish or honour a quote. Figures are collected by third-party reporters and different sources routinely disagree, which is why a premium can move sharply within a day or vanish entirely once bidding closes.
Grey Market Premium is an unofficial, unregulated over-the-counter datapoint reported by third parties. It is not a price, a forecast, or an indication of listing gains, and is not investment advice.