Ajax Engineering IPO
GMP, Subscription, Price, Dates & Financial Details
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…
Open Date
Mon, 10 Feb 2025
Close Date
Wed, 12 Feb 2025
Price Band
₹ 599 – 629
Lot Size
23
Issue Size
₹ 1,269.35 Cr
Minimum Investment
₹ 14,467 (23 Shares)
Grey Market Premium Analysis
Day Wise GMP→Unofficial premium quoted in the grey market, tracked daily against the price band cap.
Grey market trading is unregulated. GMP figures are indicative only and should not be the sole basis for investment decisions - treat as a sentiment indicator, not a guarantee.
IPO Details
Ajax Engineering IPO has successfully completed its IPO process and is now listed on the NSE and BSE. According to the Red Herring Prospectus (RHP), the IPO was a book-built issue with a total issue size of ₹1,269.35 Crore and an offer for sale (OFS) of 2.02 Crore equity shares aggregating to ₹1,269.35 Crore by the existing shareholders.
The Ajax Engineering IPO remained open for subscription from February 10, 2025, to February 12, 2025. The basis of allotment was finalized on February 13, 2025, and the company's shares were listed on the NSE and BSE on February 17, 2025.
The company had fixed the price band at ₹599 to ₹629 per share, with a lot size of 23 shares. Retail investors were required to make a minimum investment of ₹14,467 (based on the upper price band) to apply for one lot.
MUFG Intime India Private Limited served as the registrar to the issue. Citigroup Global Markets India Private Limited, ICICI Securities Limited, JM Financial Limited, Nuvama Wealth Management Limited, and SBI Capital Markets Limited acted as the Book Running Lead Managers (BRLMs) to the issue.
With the successful completion of the IPO process, Ajax Engineering Limited is now a publicly listed company on the NSE and BSE. Investors can track the company's share price, trading performance, financial results, and corporate announcements through the stock exchanges.
Ajax Engineering IPO Timeline (Tentative)
- IPO Open Date
- Mon, 10 Feb 25
- IPO Close Date
- Wed, 12 Feb 25
- Basis of Allotment
- Thu, 13 Feb 25
- Initiation of Refunds
- Fri, 14 Feb 25
- Credit of Shares to Demat
- Fri, 14 Feb 25
- Listing Date
- Mon, 17 Feb 25 — NSE & BSE
Open Date
10 February 2025
Close Date
12 February 2025
Basis Of Allotment
13 February 2025
Listing Date
17 February 2025
IPO Subscription
Check Live Subscription →The Ajax Engineering IPO has received bids for 9,11,46,769 shares against 1,41,49,997 shares offered, resulting in an overall subscription of 6.44x. the NII category is subscribed 6.46x, Retail Investors 1.92x, Employees 2.62x, and QIBs 14.41x. Within the NII category, BNII is subscribed 7.88x, while SNII is subscribed 3.63x.
QIB
14.41x
NII
6.46x
BNII
7.88x
SNII
3.63x
RII
1.92x
EMP
2.62x
Total
6.44x
IPO Reservations
The Retail Individual Investor (RII) category has the highest allocation with 70,35,525 shares, representing 49.72% of the total issue. Qualified Institutional Buyers (QIBs) are allocated 40,20,300 shares (28.41%), while Non-Institutional Investors (NIIs) receive 30,15,225 shares (21.31%).
| Category | Shares Offered | Shares Offered % |
|---|---|---|
| Qualified Institutions | 4,020,300 | 28.41% |
| Non-Institutional | 3,015,225 | 21.31% |
| BNII | 2,010,150 | 14.21% |
| SNII | 1,005,075 | 7.1% |
| Retail Investors | 7,035,525 | 49.72% |
| Employees | 78,947 | 0.56% |
| Total | 14,149,997 | 100% |
Financials Details(₹ 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 |
Financials Performance
Performance Indicators
EPS Pre
Earnings per share before the IPO.
P/E Pre
IPO Offer Price ÷ EPS Pre.
EPS Post
Expected earnings per share after the IPO..
P/E (Post Issue)
IPO Offer Price ÷ EPS Post.
Ajax Engineering Limited KPI Information
| Particular | KPI as of Mar 31, 2024. |
|---|---|
| ROE % | 24.53 |
| ROCE % | 32.82 |
| Debt / Equity | 0.01 |
| RoNW % | 19.39 |
| Pat Margin % | 12.65 |
Peers Comparison
No Peer Comparision Available
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.
Ajax Engineering Limited Address / Contact Details
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
Ajax Engineering IPO Lot Size
The Ajax Engineering IPO has a lot size of 23 shares. Retail investors require a minimum investment of ₹14,467 by applying for 1 lot (23 shares). The maximum application allowed for the retail category is 13 lots (299 shares), requiring an investment of ₹1,88,071.
| 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 |
Issue Reservation
- QIB — 28.41%
- NII — 21.31%
- RII — 49.72%
- EMP — 0.56%
Book Running Lead Managers
- Citigroup Global Markets India Private Limited
- ICICI Securities Limited
- JM Financial Limited
- Nuvama Wealth Management Limited
- SBI Capital Markets Limited
IPO Documents & Links
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Disclaimer: This data is for informational purposes only and does not constitute investment advice.
Frequently Asked Questions
Everything you need to know before applying to an IPO.
What is the Ajax Engineering 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.
When will the Ajax Engineering IPO open for subscription?
The Ajax Engineering IPO opens on Mon, Feb 10, 2025 and closes on Wed, Feb 12, 2025
What is Ajax Engineering IPO Price Band?
Ajax Engineering IPO Price Band is ₹599 to 629 per share.
What is Ajax Engineering IPO Lot Size?
Ajax Engineering IPO lot size is 23 shares, Retail investors need a minimum investment of ₹14467 based on the upper price band
What is the minimum investment for Ajax Engineering IPO?
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.
How to apply for Ajax Engineering IPO?
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.
What is Ajax Engineering IPO Issue Size?
Ajax Engineering IPO issue size is ₹1269.35 crores.
What is the Ajax Engineering IPO Allotment Date?
Ajax Engineering IPO allotment date is Thu, Feb 13, 2025.
Who is the Ajax Engineering IPO Registrar?
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.
What is the Ajax Engineering IPO GMP?
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 -0.48% over the issue price.
Who is the Ajax Engineering IPO Lead Manager?
The book-running lead managers (BRLMs) for the Ajax Engineering IPO are Citigroup Global Markets India Private Limited, ICICI Securities Limited, JM Financial Limited, Nuvama Wealth Management Limited, and SBI Capital Markets Limited. The lead managers are responsible for managing the IPO process, including issue structuring, regulatory compliance, marketing the public issue, coordinating with investors, and ensuring a smooth listing process. For complete details, investors should refer to the Ajax Engineering IPO Red Herring Prospectus (RHP).