Ajax Engineering IPO (Ajax Engineering Limited IPO)
Ajax Engineering IPO open for bidding on 10th February 2025 and ends on 12th February 2025.
Established in 1992, Ajax Engineering Limited is a leading manufacturer of concrete equipment, specializing in self-loading concrete mixers (SLCMs), batching plants, transit mixers, boom pumps, concrete pumps, slip-form pavers, and 3D concrete printers. With over three decades of industry expertise, the company has built a reputation for technological innovation, quality, and reliability, making it a preferred choice in the construction sector.
As of September 30, 2024, Ajax Engineering has sold over 29,800 concrete equipment units in India, securing its position as the largest manufacturer of SLCMs in the country, with a 77% market share. The company’s non-SLCM equipment segment has also demonstrated strong growth, achieving a CAGR of 25.90%, reflecting its expanding market presence.
With a network of 51 dealerships across 23 states and 114 customer touchpoints, Ajax Engineering serves a diverse clientele, including individual contractors, mid-sized firms, large construction companies, and government agencies. The company has also established a global footprint, exporting its equipment to 46 countries across South and Southeast Asia, the Middle East, and Africa.
For more details refer to Ajax Engineering IPO RHP and Ajax Engineering IPO Pulse Score
Ajax Engineering IPO Details
| IPO Date | 10th February 2025 to 12th February 2025 |
| Listing Date | 17th February 2025 |
| Face Value | ₹1 per share |
| Price Band | ₹599 to ₹629 per share |
| Lot Size | 23 Shares |
| Total Issue Size | 2,01,80,446 shares (aggregating up to ₹1,269.35 Cr) |
| Offer for Sale | 2,01,80,446 shares of ₹1 (aggregating up to ₹1,269.35 Cr) |
| Employee Discount | ₹59 per Share |
| Issue Type | Book Built Issue IPO |
IPO Reservation
| Investor Category | Shares Offered |
|---|---|
| QIB | <50% |
| NII | >15% |
| bNII | 10% |
| sNII | 5% |
| Retail | >35% |
Ajax Engineering IPO Timeline
| IPO Open | 10th February 2025 |
| IPO Close | 12th February 2025 |
| Basis Of Allotment | 13th February 2025 |
| Initiation of Refunds | 14th February 2025 |
| Credit of Shares to Demat | 14th February 2025 |
| Listing Date | 17th February 2025 |
Fundamentals
Data as of 30th September 2024
| Market Cap | ₹7196.19 Cr | P/E Ratio- Pre IPO | 31.96 |
| RoNW* | 8.15% | P/E Ratio- Post IPO | 35.62 |
| RoCE* | 13.84% | P/B Ratio | 7.84 |
| Debt to Equity | 0.002 | PAT Margin | 12.72% |
Note: P/E Ratio -Pre IPO is calculated based on Pre-issue Shareholding and FY Earnings of March 2024. P/E Ratio- Post IPO is calculated based on post-issue shareholding and annualized FY earnings for September 2024. RoCE and RoNW are for a six-month period ended September 30, 2024
Ajax Engineering IPO Objectives
The Company will not receive any proceeds from the Offer (the “Offer Proceeds”) and all the Offer Proceeds
will be received by the Promoter Selling Shareholder after deduction of Offer related expenses and relevant taxes
thereon, to be borne by the Promoter Selling Shareholder.
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