Comparison between Ajax Engineering IPO and Glottis IPO.
Ajax Engineering IPO is a Mainboard Bookbuilding IPO proposed to list at BSE, NSE while Glottis IPO is a Mainboard Bookbuilding proposed to list at BSE, NSE.
The total issue size of Ajax Engineering IPO is up to ₹1,268.93 Cr whereas the issue size of the Glottis IPO is up to ₹307.00 Cr. The final issue price of Ajax Engineering IPO is ₹629.00 per share and of Glottis IPO is ₹129.00 per share.
| Ajax Engineering IPO | Glottis IPO | |
|---|---|---|
| Face Value | ₹1 per share | ₹2 per share |
| Issue Price (Lower) | ₹599.00 per share | ₹120.00 per share |
| Issue Price (Upper) | ₹629.00 per share | ₹129.00 per share |
| Issue Price (Final) | ₹629.00 per share | ₹129.00 per share |
| Discount (Retail) | ₹0.00 per share | |
| Discount (Employee) | ₹59.00 per share | |
| Market Lot Size | 23 shares | 114 shares |
| Fresh Issue Size | 0 shares | 1,24,03,000 shares |
| Fresh Issue Size (Amount) | up to ₹0.00 Cr | up to ₹160.00 Cr |
| OFS Issue Size | 2,01,80,446 shares | 1,13,95,640 shares |
| OFS Issue Size (Amount) | up to ₹1,268.93 Cr | up to ₹147.00 Cr |
| Issue Size Total | 2,01,80,446 shares | 2,37,98,640 shares |
| Issue Size Total (Amount) | up to ₹1,268.93 Cr | up to ₹307.00 Cr |
Ajax Engineering IPO opens on Feb 10, 2025, while Glottis IPO opens on Sep 29, 2025. The closing date of Ajax Engineering IPO and Glottis IPO is Feb 12, 2025, and Oct 01, 2025, respectively.
| Ajax Engineering IPO | Glottis IPO | |
|---|---|---|
| Anchor Bid Date | Feb 07, 2025 | Sep 26, 2025 |
| Issue Open | Feb 10, 2025 | Sep 29, 2025 |
| Issue Close | Feb 12, 2025 | Oct 01, 2025 |
| Basis Of Allotment (Tentative) | Feb 13, 2025 | Oct 03, 2025 |
| Initiation of Refunds (Tentative) | Feb 14, 2025 | Oct 06, 2025 |
| Credit of Share (Tentative) | Feb 14, 2025 | Oct 06, 2025 |
| Listing date (Tentative) | Feb 17, 2025 | Oct 07, 2025 |
| Anchor Lockin End date 1 | Mar 14, 2025 | Nov 01, 2025 |
| Anchor Lockin End date 2 | May 13, 2025 | Dec 31, 2025 |
Ajax Engineering IPO P/E ratio is 31.96, as compared to Glottis IPO P/E ratio of 18.38.
| Ajax Engineering IPO | Glottis IPO | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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| Financials | Company Financials (Restated)
| Company Financials (Restated)Glottis Ltd.'s revenue increased by 89% and profit after tax (PAT) rose by 81% between the financial year ending with March 31, 2025 and March 31, 2024.
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| Promoter Shareholding (Pre-Issue) | 93.5 | 98.98 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Promoter Shareholding (Post-Issue) | 80 | 74.23 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| P/E Ratio | 31.96 | 18.38 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Market Cap | ₹7196.19 Cr. | ₹1192.00 Cr. | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| ROE | 24.53% | 56.98% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| ROCE | 32.82% | 72.58% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Debt/Equity | 0.01 | 0.22 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| EPS | ₹19.68 | ₹7.02 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| RoNW | 19.39% | 56.98% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
In the Ajax Engineering IPO Retail Individual Investors (RII) are offered 70,35,525 shares while in Glottis IPO retail investors are offered 70,35,525 shares. Qualified Institutional Buyers (QIB) are offered 40,20,300 shares in Ajax Engineering IPO and 28,55,837 shares in Glottis IPO.
| Ajax Engineering IPO | Glottis IPO | |
|---|---|---|
| Anchor Investor Reservation | 60,30,449 shares | 42,83,755 shares |
| Market Maker Reservation | 0 shares | 0 shares |
| QIB | 40,20,300 shares | 28,55,837 shares |
| NII | 30,15,225 shares | 71,39,592 shares |
| RII | 70,35,525 shares | 95,19,456 shares |
| Employee | 78,947 shares | 0 shares |
| Others | ||
| Total | 2,01,80,446 shares | 2,37,98,640 shares |
Ajax Engineering IPO subscribed 6.06x in total, whereas Glottis IPO subscribed 2.12x.
| Ajax Engineering IPO | Glottis IPO | |
|---|---|---|
| QIB (times) | 13.04x | 1.84x |
| NII (times) | 6.46x | 3.08x |
| Big NII (times) | 7.67x | 3.77x |
| Small NII (times) | 3.58x | 1.71x |
| RII (times) | 1.94x | 1.47x |
| Employee (times) | 2.62x | |
| Other (times) | ||
| Total (times) | 6.06x | 2.12x |
