Ajax Engineering Limited IPO
MainboardConstruction Vehicles
Listed On: Feb 17, 2025 at ₹ 576.0 (NSE)
₹ 14467 /23 Shares
Check AllotmentPrice Summary
Last Closing
681.00 (8.27%)52 Week High
756.2052 Week Low
549.10Last Update
23-May-2025 3:30 PM10 Feb, 2025
Open Date12 Feb, 2025
Close Date13 Feb, 2025
Allotment Date17 Feb, 2025
Listing DateIssue Price
₹599-629 per equity shareFace Value
₹1 Per Equity ShareListing at Group
BSE, NSERegistrar
Link Intime India Private LtdList Price
576.0 (NSE)Listing Date
2025-02-17Market Lot
Retail : 23 Shares (₹14,467/-)S-HNI : 322 Shares (₹2,02,538/-)
B-HNI : 1,610 Shares (₹10,12,690/-)
Lead Manager
ICICI Securities LimitedCitigroup Global Markets India Private Limited
Jm Financial Limited
Nuvama Wealth Management Limited
SBI Capital Markets Limited
Issue Size
OFS : 2,01,80,446 shares(aggregating up to ₹1,269.35 Cr)Retail Portion
35% (Number of Retail Applications: 3,05,892 Approx),(Number of S-HNI Applications : 3,121 Approx),
(Number of B-HNI Applications : 6,243 Approx)
Subscription
timesAjax Engineering IPO Details
Ajax Engineering IPO is a book-built issue of ₹1269.35 crores, The total issue size is ₹1269.35 crores. The IPO of Ajax Engineering is priced at ₹599-629 per equity share, which has a face value of ₹1 Per Equity Share each, IPO bidding starts from Feb 10, 2025 and ends on Feb 12, 2025. The allotment for Ajax Engineering IPO will be finalized on Feb 13, 2025. Ajax Engineering IPO will be listed on BSE, NSE, with a tentative listing date fixed as Feb 17, 2025. The company shall list its equity shares on the BSE, NSE. Link Intime India Private Ltd is the registrar of the issue.
Retail investors can bid for a minimum of 23 shares, extendable to 14,467. S-HNIs will be able to bid for 322 shares at ₹2,02,538, while B-HNIs can also apply for a bid of 1,610 shares at ₹10,12,690. The book-running lead manager for the IPO is/are ICICI Securities Limited , Citigroup Global Markets India Private Limited , Jm Financial Limited , Nuvama Wealth Management Limited , SBI Capital Markets Limited .
an Offer for Sale (OFS) of 2,01,80,446 shares to mop up ₹1269.35 crore.
The Ajax Engineering IPO sets its price band at 599-629 for each share. A single application for Ajax Engineering Limited IPO must contain at least 23 shares. Sentiment investors need to invest a minimum of 23 through their retail account. For investors to prevent oversubscription issues, they should submit bids at the cutoff price, which estimates about ₹14,467 In order to participate in the sNII, investors must purchase at least 14 lots of 322 shares for ₹2,02,538, while the bNII requires 70 lots of 1,610 shares for an investment of ₹10,12,690.
Ajax Engineering IPO Subscription Details
| As on | QIB | NII bNII sNII | Retail | |
|---|---|---|---|---|
| Shares Offered / Reserved | 40,20,300 | 30,15,225 20,10,150 10,05,075 | 70,35,525 | N/A |
| Day 1 - 10-02-25 05:00 PM | 0.26 x | 0.28 0.24 x 0.36 x | 0.29 x | N/A x |
| Day 2 - 11-02-25 05:00 PM | 0.33 x | 0.61 0.52 x 0.78 x | 0.51 x | N/A x |
| Day 3 - 12-02-25 05:00 PM | 14.41 x | 6.46 7.88 x 3.63 x | 1.92 x | N/A x |
Ajax Engineering Valuations
EPS Pre IPO
₹19.68/-EPS Post IPO
₹17.66/-P/E Pre IPO
31.96P/E Post IPO
35.62ROE
24.53%ROCE
32.82%Debt/Equity
0.01RoNW
19.39%PAT Margin
12.65Price to Book Value
7.84Ajax Engineering Company Financials All values are in ₹ Cr.
| 31-Mar-24 | 31-Mar-23 | 31-Mar-22 | |
|---|---|---|---|
| Assets | 1,236.14 | 966.73 | 735.31 |
| Revenue | 1,780.07 | 1,172.57 | 771.85 |
| Profit After Tax | 225.15 | 135.9 | 66.21 |
| Net Worth | 917.96 | 713.8 | 578.27 |
| Reserves & Surplus | 906.52 | 702.36 | 575.41 |
| Total Borrowing | 6.23 | 10.14 | 7.16 |
About The Company
Established in July 1992, Ajax Engineering Limited designs and manufactures concrete equipment and provides services in the value chain. The company has developed 110 variants of concrete equipment for the value chain, and over 27,800 units have been sold in India in the last ten years as of March 31, 2024.
As of March 31, 2024, the total workforce in design, engineering, and development team is 76 full-time employees, about 17.16% of the total workforce.
As of March 31, 2024, Ajax Engineering Limited has four facilities in the state of Karnataka located at Obadenahalli, Gowribidanur, and Bashettihalli, which produce different ranges of products, especially Obadenahalli.As of March 31, 2024, The company has 51 dealerships across 23 states in India, providing 114 touchpoints, including 51 headquarters and 63 branches, 34 of which also serve as service centers.
The company has established 25 dealers and distributors across South and Southeast Asia, the Middle East, and Africa as of March 31, 2024.The company has sold concrete equipment and spare parts to over 15,700 customers as of March 31, 2024.
As of March 31, 2024, the service team comprised 83 employees, including coordinators, managers, specialists, and customer service executives supporting our dealer network.
Ajax Engineering - Peers Comparison
| P/B Ratio | P/E Ratio | RoNW | Net Worth | |
|---|---|---|---|---|
| Ajax Engineering | 7.23 | 29.6 | 19.4% | 1,780 |
| Action Construction | 10.8 | 40.7 | 30.6% | 3,080 |
| BEML Limited | 5.31 | 50.1 | 11.0% | 4,055 |
| Escorts Kubota | 3.80 | 32.5 | 12.0% | 9,742 |
Ajax Engineering - Promoter(s)
Pre Issue Share Holding: 93.50%
Post Issue Share Holding: 80.00%
- 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 and The Johns Loaves Trust.
Ajax Engineering IPO - Issue Objectives
- 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 IPO - Anchor Investors
Institutional major investors were SBI Mutual Fund, Amundi India, Axis Mutual Fund, IIFL Asset Management, Ashoka Whiteoak ICAV, Franklin Templeton Investment Funds, and Fundpartner Solutions (SUISSE) SA, which all put money into the company.
Apart from them, the list included PI Opportunities AIF, HSBC Infrastructure Fund, Carmignac Portfolio, Destinations International Equity Fund, Tocu Europe, Edelweiss Trusteeship, Bcad Fund, and ITI Mutual Fund for anchor book investment.
Other Details
Ajax Engineering
253/1, 11th Main Road, 3 rd Phase, Peenya Industrial Area, Bengaluru 560058Link Intime India Private Ltd
Phone: +91-22-4918 6270
Email: ajaxengineering.ipo@linkintime.co.in
Website: https://linkintime.co.in/initial_offer/public-issues.html
Ajax Engineering IPO - FAQs
Ans. Ajax Engineering Limited IPO is a Mainboard IPO. The issue is priced at ₹599-629 per equity share. The minimum order quantity is 23 Shares. The IPO opens on Feb 10, 2025, and closes on Feb 12, 2025. Link Intime India Private Ltd is the registrar for the IPO. The shares are proposed to be listed on BSE, NSE.
Ans. The Ajax Engineering Limited IPO opens on Feb 10, 2025 and closes on Feb 12, 2025.
Ans. The size of Ajax Engineering Limited IPO is OFS : 2,01,80,446 shares(aggregating up to ₹1,269.35 Cr).
Ans. The IPO price band is set between ₹599-629 per equity share.
Ans. To apply for Ajax Engineering Limited IPO IPO, follow the steps given below:
- - Open the IPO Ji App or Website
- - Find Ajax Engineering Limited IPO in the List of IPOs
- - Press "Apply" Button
- - Select Your Demat Account
- - Select Your Shares Quantity and Submit
- - Track Your IPO Status
Ans. The share allotment date of Ajax Engineering Limited IPO is Feb 13, 2025.
Ans. The Ajax Engineering Limited IPO will be listed on Feb 17, 2025.
Ans. Follow the steps to check the allotment status for Ajax Engineering Limited IPO here.
