Ajax Engineering IPO
Open MainLineCurrent GMP
₹-3 (-0.48%)
Price Band
₹ 599 – 629
Lot Size
23
Issue Size
₹1269.35 Cr
Minimum Investment
₹14467 (23 Shares)
Listing Date
17 February 2025
Subscription
6.44x
About the Company
Ajax Engineering Limited is a leading manufacturer of concrete equipment in India, specializing in a wide range of products and services across the concrete application value chain. Founded 32 years ago, the company has developed over 110 concrete equipment variants and has sold more than 27,800 concrete machines in India. Ajax Engineering is one of the top three global manufacturers of self-loading concrete mixers (SLCMs), holding significant market share in India. As of Financial Year 2024, the company’s SLCMs accounted for 12% of India’s concrete production.
The company's diverse portfolio includes SLCMs, batching plants, transit mixers, boom pumps, self-propelled boom pumps, slip-form pavers, and 3D concrete printers. These machines serve a variety of infrastructure projects, including roads, bridges, irrigation systems, and power plants. Ajax Engineering is also known for its in-house innovations, such as the SLCM with load cell technology, self-propelled boom pumps, and slip-form pavers.
Ajax Engineering is recognized for its strong design, engineering, and development capabilities, supported by a large research and development team. The company’s manufacturing facilities are located across Karnataka, with its Obadenahalli plant being among the largest SLCM facilities globally.
In addition to equipment manufacturing, Ajax Engineering operates a comprehensive after-sales service network through its 51 dealerships across India and 25 international distributors. The company’s customer base includes contractors, rental companies, and government agencies involved in infrastructure development.
With a solid market presence and growth trajectory, Ajax Engineering is positioned to capitalize on the increasing demand for mechanized concrete equipment, driven by the expansion of infrastructure projects in India. The company has established long-term relationships with over 15,700 customers and suppliers, ensuring a reliable supply chain. Its leadership team brings decades of experience across various sectors, strengthening its position in the market.
Promoters
- KRISHNASWAMY VIJAY
- JACOB JITEN JOHN
- KALYANI VIJAY
- MADHURI VIJAY
- PRASHANTH VIJAY
- RACHEL REKHA HANSEN
- SAVITHA CHRISTEENA ALEXANDER
- SEAN ALEXANDER
- GREEN HAVEN TRUST
- OHANA TRUST
- JACOB HANSEN FAMILY TRUST
- THE JOHNS LOAVES TRUST
Promoters Holding
Holding Pre Issue
93.50%
Holding Post Issue
0.00%
Objects of the Issue
The Company will not receive any proceeds of the Offer. Each of the Selling Shareholders will be entitled to the respective proportion of proceeds of the Offer for Sale after deducting its portion of the Offer-related expenses and the relevant taxes thereon.
Address / Contact Info
Ajax Engineering Limited
253/1, 11th Main Road
3rd Phase, Peenya Industrial
Area, Bengaluru 560058
Karnataka, India
Phone: +91 82 9633 6111
Email: complianceofficer@ajax-engg.com
Website: https://www.ajax-engg.com/
IPO Snapshot
IPO Timeline (Tentative)
IPO Open Date
Monday, 10 February 2025
IPO Close Date
Wednesday, 12 February 2025
Basis of Allotment
Thursday, 13 February 2025
Initiation of Refunds
Friday, 14 February 2025
Credit of Shares to Demat
Friday, 14 February 2025
Listing Date
Monday, 17 February 2025 — NSE & BSE
Important Dates
Open Date
10 February 2025
Close Date
12 February 2025
Basis Of Allotment
13 February 2025
Listing Date
17 February 2025
Financial Performance (₹ in Crores)
| Particular | 30 Sep 2024 | 31 Mar 2024 | 31 Mar 2023 | 31 Mar 2022 |
|---|---|---|---|---|
| Assets | 1348.76 | 1236.14 | 966.73 | 735.31 |
| Revenue | 794.16 | 1780.07 | 1172.57 | 771.85 |
| Profit After Tax | 101.02 | 225.28 | 135.52 | 66.38 |
| Net Worth | 995.84 | 917.96 | 713.8 | 578.27 |
| Reserve & Surplus | 984.4 | 906.52 | 702.36 | 575.41 |
| Total Borrowings | 0 | 6.23 | 10.14 | 7.16 |
EPS Pre
19.68%
EPS Post
19.68%
P/E Pre
31.96
P/E (Post Issue)
31.96x
Company Financial Information
KPI Information (₹ in Crores)
| Particular | KPI as of Mar 31, 2024. |
|---|---|
| ROE % | 24.53 |
| ROCE % | 32.82 |
| Debt / Equity | 0.01 |
| RoNW % | 19.39 |
| PbW | 0 |
| Pat Margin % | 12.65 |
Return Ratio
IPO Reservations
| Category | Shares Offered | Shares Offered % | Max Allotee |
|---|---|---|---|
| Qualified Institutions | 4020300 | 28.41 | 0 |
| Non-Institutional | 3015225 | 21.31 | 0 |
| BNII | 2010150 | 14.21 | 0 |
| SNII | 1005075 | 7.1 | 0 |
| Retail Investors | 7035525 | 49.72 | 0 |
| Employees | 78947 | 0.56 | 0 |
| Total | 14149997 | 100 | 0 |
Subscription Status ( Wed, 12 Feb 25 01:18 PM)
| Category | Shares Offered | Shares Bid For | Subscription (x) |
|---|---|---|---|
| Qualified Institutions | 4020300 | 57946016 | 14.41x |
| Non-Institutional | 3015225 | 19482058 | 6.46x |
| BNII | 2010150 | 15830509 | 7.88x |
| SNII | 1005075 | 3651549 | 3.63x |
| Retail Investors | 7035525 | 13511879 | 1.92x |
| Employees | 78947 | 206816 | 2.62x |
| Total | 14149997 | 91146769 | 6.44x |
Subscription figures are updated periodically and may change until issue closing. Data reflects bids placed across exchanges.
Peer Comparision
No Peer Comparision Available
Lot Size & Investment Details
| Application | Lots | Shares | Amount (₹) |
|---|---|---|---|
| Retail (Min) | 1 | 23 | 14,467.00 |
| Retail (Max) | 13 | 299 | 188,071.00 |
| S-HNI (Min) | 14 | 322 | 202,538.00 |
| S-HNI (Max) | 69 | 1,587 | 998,223.00 |
| B-HNI (Min) | 70 | 1,610 | 1,012,690.00 |
Registrar
MUFG Intime India Private Limited ((Link Intime)
91-22-4918 6270
ipo.helpdesk@in.mpms.mufg.com
https://in.mpms.mufg.com/home.html
Book Running Lead Managers
- Citigroup Global Markets India Private Limited
- ICICI Securities Limited
- JM Financial Limited
- Nuvama Wealth Management Limited
- SBI Capital Markets Limited
RHP Document
DRHP Document
Anchor Investors
Disclaimer: This data is for informational purposes only and does not constitute investment advice. Figures shown are illustrative sample data.
Frequently Asked Questions
Everything you need to know before applying to an IPO.
Ajax Engineering IPO is a Book-building IPO worth ₹1269.35 crores. The price band is ₹599 to 629 per share. The IPO opens on Mon, Feb 10, 2025 and closes on Wed, Feb 12, 2025. It will be listed on BSE and NSE. MUFG Intime India Private Limited ((Link Intime) is the registrar.
The Ajax Engineering IPO opens on Mon, Feb 10, 2025 and closes on Wed, Feb 12, 2025
Ajax Engineering IPO Price Band is ₹599 to 629.
Ajax Engineering IPO lot size is 23, and the minimum amount required for application is ₹14467.
The minimum investment for Ajax Engineering IPO is approximately ₹14467 based on the upper price band.
To apply for the Ajax Engineering IPO, investors can use the ASBA (Application Supported by Blocked Amount) process via their bank's net banking or apply through UPI using a registered broker or trading app. The IPO is available in retail, HNI, and institutional investor categories. Investors must select the lot size, enter bid details within the price band, and submit their application before the IPO closing date of Wed, Feb 12, 2025. After submission, funds are blocked until the basis of allotment of Ajax Engineering IPO is finalised.
Ajax Engineering IPO issue size is ₹1269.35 crores.
Ajax Engineering IPO allotment date is Sat, Jun 27, 2026.
The registrar for Ajax Engineering IPO is MUFG Intime India Private Limited ((Link Intime). Investors can go to MUFG Intime India Private Limited ((Link Intime) website for IPO allotment status, refund processing, and other queries related to Ajax Engineering IPO through their official website or helpline.
The Ajax Engineering IPO GMP (Grey Market Premium) is ₹-3 as of Mon, Feb 17, 2025. Based on the upper price band of ₹629 per share, the estimated Ajax Engineering IPO listing price is ₹626, indicating a potential listing gain of approximately 31% over the issue price.