Ajax Engineering IPO Details
The Ajax Engineering IPO is a book build issue with a total issue size of ₹1269.35 cr, and a offer for sale of 20180446 equity shares. Ajax Engineering IPO opened for subscription on Feb 10, 2025 and closed on Feb 12, 2025. Ajax Engineering IPO is set price band at ₹599 to ₹629 per share, with a lot size of 23 shares. Minimum investment for Retail investors was ₹14,467.00 (at the upper price band) to apply for one lot.
The basis of allotment got finalized on Feb 13, 2025, and listed on both the NSE and BSE on Feb 17, 2025.
MUFG Intime India Private Limited has been appointed as the registrar. Citigroup Global Markets India Private Limited, ICICI Securities Limited, JM Financial Limited, Nuvama Wealth Management Limited and SBI Capital Markets Limited are the Book Running Lead Manager for the issue.
Before investing in the Ajax Engineering IPO, investors should review the company's financial performance, business objectives, and risk factors mentioned in the offer documents and apply before the subscription window closes.
- Price Band
- ₹ 599 – 629
- Lot Size
- 23
- Issue Size
- ₹1269.35 Cr
- Minimum Investment
- ₹14467 (23 Shares)
- Listing Date
- 17 February 2025
Current GMP
₹-3 (-0.48%)
*Info is indicative. Not an Investment Advice. Grey market trading is unregulated.
About Ajax Engineering Limited
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.
Ajax Engineering IPO 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%
Ajax Engineering IPO Objective
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
Book Running Lead Managers
- Citigroup Global Markets India Private Limited
- ICICI Securities Limited
- JM Financial Limited
- Nuvama Wealth Management Limited
- SBI Capital Markets Limited
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 with a total issue size of ₹1269.35 crore. The Ajax Engineering IPO price band is ₹599 to 629 per share. The Ajax Engineering IPO subscription opens on Mon, Feb 10, 2025, and closes on Wed, Feb 12, 2025. The Ajax Engineering IPO will be listed on the NSE,BSE. MUFG Intime India Private Limited is the registrar for the Ajax Engineering IPO.
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 per share.
Ajax Engineering IPO lot size is 23 shares, Retail investors need a minimum investment of ₹14467 based on the upper price band
The minimum investment for Ajax Engineering IPO is ₹14467, based on one lot of 23 shares at the upper price band of ₹629 per share.
Investors can apply for the Ajax Engineering IPO through the ASBA (Application Supported by Blocked Amount) facility offered by their bank or through UPI using a SEBI-registered broker or trading app. Select the desired lot size, enter your bid within the price band, and submit the application before Wed, Feb 12, 2025. The application amount remains blocked until the Ajax Engineering IPO allotment is finalized.
Ajax Engineering IPO issue size is ₹1269.35 crores.
Ajax Engineering IPO allotment date is Wed, Jul 1, 2026.
The registrar for Ajax Engineering IPO is MUFG Intime India Private Limited. Investors can go to MUFG Intime India Private Limited website to check Ajax Engineering IPO allotment status, refund processing, and other IPO-related information.
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 0% over the issue price.