Ajax Engineering is gearing up to launch its Rs 1,269.35 Crore IPO, with applications open from 10th February to 12th February. The IPO is entirely an offer-for-sale, comprising 2.02 crore shares, and will be listed on both the BSE and NSE.
This IPO follows a book-building issue structure, requiring a minimum investment of Rs 14,467 for retail investors. Small NIIs must invest Rs 2,02,538 for 322 shares (14 lots), while large NIIs need to invest Rs 10,12,690 for 1,610 shares (70 lots).
Link Intime India Pvt Ltd is the registrar for the offering. ICICI Securities Ltd, Citigroup Global Markets India Pvt Ltd, Jm Financial Ltd, Nuvama Wealth Management Ltd, and SBI Capital Markets Ltd are the lead managers for the IPO.
Ajax Engineering IPO GMP
The Ajax Engineering IPO GMP is Rs 4.5, as of 12th Feb, 2025 02:00 PM. The IPO has a price band of Rs 629. The estimated listing price for Ajax Engineering IPO is Rs 633.5, reflecting a potential gain of 0.7% per share.
| Date | GMP | Expected Listing Price | Last Updated |
| 12-02-2025 | Rs 04.5 | Rs 636 | 02:00 PM |
| 11-02-2025 | Rs 08 | Rs 637 | 4::15 PM |
| 10-02-2025 | Rs 32 | Rs 661 | 03:30 PM |
| 09-02-2025 | Rs 52 | Rs 681 | 09:30 AM |
| 08-02-2025 | Rs 55 | Rs 684 | 09:30 AM |
| 07-02-2025 | Rs 57 | Rs 686 | 09:30 AM |
| 06-02-2025 | Rs 48 | Rs 677 | 11:30 AM |
| 05-02-2025 | Rs 58 | Rs 687 | 11:30 PM |
Ajax Engineering IPO Details
| Face Value | Rs 1 per Share |
| Lot Size | 23 Shares |
| Price Band | Rs 599 to Rs 629 |
| Listing At | NSE, BSE |
| Total Issue Size | 2,01,80,446 Shares (aggregating up to Rs 1,269.35 Cr) |
| Fresh Issue | 2,01,80,446 Shares (aggregating up to Rs 1,269.35 Cr) |
| DRHP | Click Here |
| RHP | Click Here |
Ajax Engineering IPO Timeline
| Open – Close Date | 10th Feb to 12th Feb |
| Last UPI Mandate Confirmation | 5 PM on 12th Feb |
| IPO Allotment | 13th Feb |
| Amount Refund | 14th Feb |
| Credit of Shares | 14th Feb |
| Listing Date | 17th Feb |
Ajax Engineering IPO Lot Size
| Application | Lot | Size | Amount |
| Retail (Min) | 1 | 23 | Rs 14,467 |
| Retail (Max) | 13 | 299 | Rs 1,88,071 |
| S-HNI (Min) | 14 | 322 | Rs 2,02,538 |
| S-HNI (Max) | 69 | 1,587 | Rs 9,98,223 |
| B-HNI (Min) | 70 | 1,610 | Rs 10,12,690 |
Ajax Engineering Company Details
- Incorporated in July 1992, Ajax Engineering Limited manufactures concrete equipment and services across the value chain.
- By 30th September, 2024, the company developed 141 concrete equipment variants and sold over 29,800 units in India over ten years.
- It has four facilities in Karnataka, including Obadenahalli, Gowribidanur, and Bashettihalli, each specialising in different products.
- The workforce includes 79 full-time design, engineering, and development employees, accounting for 15.96% of the total workforce as of 30th September, 2024.
- By 30th September, 2024, Ajax Engineering had 51 dealerships across 23 Indian states, providing 114 touchpoints, with 34 serving as service centers.
- It has established 25 dealers and distributors across South and Southeast Asia, the Middle East, and Africa as of 30th September, 2024.
- The company sold concrete equipment and spare parts to over 15,700 customers by 30th September, 2024.
- Its product portfolio includes self-loading concrete mixers, batching plants, transit mixers, boom pumps, concrete pumps, self-propelled boom pumps, slipform pavers, and 3D concrete printers.
- As of 30th September, 2024, the service team included 85 employees, such as coordinators, managers, specialists, and customer service executives.
Is Ajax Engineering IPO Worth Investing?
| Ended On | Sept 2024 | March 2024 | March 2023 |
| Assets | Rs 1,348.76 Cr | Rs 1,236.14 Cr | Rs 966.73 Cr |
| Revenue | Rs 794.16 Cr | Rs 1,780.07 Cr | Rs 1,172.57 Cr |
| PAT | Rs 101.02 Cr | Rs 225.15 Cr | Rs 135.9 Cr |
Financial Performance:
Revenue: The company generated Rs 794.16 crore in revenue during the period ended on 30th September, 2024. Revenue has generally increased over the periods, though there was a slight decline in the latest period.
Net Worth: The company’s net worth, which represents the total value of the company’s assets minus its liabilities, is Rs 995.84 crore.
Financial Position:
Assets: The company’s total assets amounted to Rs 1,348.76 crore as of September 2024. Assets have grown significantly, indicating potential expansion and investment.
Profit After Tax (PAT): the company generated PAT of Rs 101.02 crore as of September 2024. Profitability has fluctuated considerably, with a significant drop in the latest period.
Ajax Engineering IPO FAQs:
What is the price band of the Ajax Engineering IPO?
Ajax Engineering IPO Price Band is Rs 599 to Rs 629.
What is the issue size of Ajax Engineering IPO?
Ajax Engineering IPO issue size is Rs 1,269.35 crore.
What is the lot size of Ajax Engineering IPO?
The size of 1 lot is 23 Shares with a minimum bid of Rs 14,467.
What is the allotment and listing date of Ajax Engineering IPO?
The allotment date of the IPO is 10th Feb and the listing date for the same is 12th Feb.
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