Ajax Engineering ipo Gmp, Date, Price, Details

Ajax Engineering is set to launch an IPO, offering a book-built issue of Rs 1,269.35 crores, consisting of 2.02 crore shares for sale. Ajax Engineering IPO opens for subscription on February 10, 2025 and closes on February 12, 2025.

Ajax Engineering Ipo Details

Ajax Engineering is set to launch an IPO with a price range of ₹599 to ₹629 per share, with a minimum lot size of 23. The minimum investment for sNII is 14 lots (322 shares), amounting to ₹2,02,538, while for bNII, it is 70 lots (1,610 shares), amounting to ₹10,12,690.

Ajax Engineering is set to launch an IPO on February 10, 2025, with subscriptions opening on February 10 and closing on February 12, with allotment expected on February 13. The IPO will be listed on BSE and NSE, with a tentative listing date set for February 17, 2025.

Nuvama Wealth Management Limited, SBI Capital Markets Limited, ICICI Securities Limited, Citigroup Global Markets India Private Limited, Jm Financial Limited are the book running lead managers of the Ajax Engineering IPO, while Link Intime India Private Ltd is the registrar for the issue.

Refer to Ajax Engineering IPO RHP for detailed information.

Ajax Engineering Ipo Date

The Ajax Engineering IPO date is February 10 and the close date is February 12.
The Ajax Engineering IPO allotment will be finalized on February 13 and the IPO listing on February 17.

EventDate
IPO Open DateMonday, February 10, 2025
IPO Close DateWednesday, February 12, 2025
Basis of AllotmentThursday, February 13, 2025
Initiation of RefundsFriday, February 14, 2025
Credit of Shares to DematFriday, February 14, 2025
Listing DateMonday, February 17, 2025
Cut-off time for UPI mandate confirmation5 PM on February 12, 2025

Also read upcoming Ipo — IPO

Ajax engineering ipo size

The Ajax Engineering IPO minimum market lot is 23 shares with ₹14,467 application amount. The retail investors can apply up-to 13 lots with 299 shares of ₹1,88,071 amount.

Application TypeLot SizeSharesAmount (₹)
Retail Minimum12314,467
Retail Maximum132991,88,071
S-HNI Minimum143222,02,538
B-HNI Minimum701,61010,12,690

Ajax Engineering IPO Reservation Details

Investor CategoryShares Offered
QIB (Qualified Institutional Buyers)Not more than 50% of the Net Offer
Retail InvestorsNot less than 35% of the Net Offer
NII (HNI – Non-Institutional Investors)Not more than 15% of the Net Offer

Upcoming IpoHexaware Technologies IPO

Ajax Engineering IPO Promoter Holding

The promoters of Ajax Engineering IPO are:

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.

About Ajax Engineering Limited

Ajax Engineering Limited, established in July 1992, is a leading manufacturer of concrete equipment and services across the entire value chain.

Since our inception 32 years ago, Ajax Engineering Limited has developed a comprehensive product portfolio across the concrete equipment value chain that includes equipment such as self-loading concrete mixers and batching plants for the production of concrete, transit mixers for the transportation of concrete, boom pumps, concrete pumps and self-propelled boom pumps for the placement of concrete, slip-form pavers for the paving of concrete and 3D concrete printers for depositing concrete.

As of September 30, 2024, Ajax Engineering Limited has developed over 141 concrete equipment variants catering to the concrete application value chain, and over the last ten years, Ajax Engineering Limited has sold over 29,800 concrete equipment in India.

As of September 30, 2024, Ajax Engineering Limited has four facilities in Karnataka, located at Obadenahalli, Gowribidanur, and Bashettihalli, each specializing in different products, especially the Obadenahalli facility.

As of September 30, 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.

As of September 30, 2024, the company has established 25 dealers and distributors across South and Southeast Asia, the Middle East, and Africa.

As of September 30, 2024, the company has sold concrete equipment and spare parts to over 15,700 customers.

Product Portfolio:

  • Self-loading concrete mixers
  • Batching plants
  • Transit mixers
  • Boom pumps
  • Concrete pumps
  • Self-propelled boom pumps
  • Slipform pavers
  • 3D concrete printers

According to chittorgarh.com, As of September 30, 2024, our service team comprises 85 employees, including coordinators, managers, specialists, and customer service executives, who support our dealer network.

Ajax Engineering Limited Financial Information
ParticularsAs at September 30, 2024As at September 30, 2023As at March 31, 2024As at March 31, 2023As at March 31, 2022
Non-current assets
Property, plant and equipment1,150.131,141.231,157.231,142.251,049.76
Capital work-in-progress42.9840.89173.4656.3072.89
Intangible assets5.1422.8518.5427.7035.38
Right-of-use assets31.4950.0196.2196.2487.17
Intangible assets under development4.84
Investments (A)198.34232.30637.42226.0549.95
Other financial assets64.1541.1441.3538.7617.75
Non-current tax assets1.471.501.471.511.51
Other non-current assets170.76215.86145.26120.0880.12
Total non-current assets2,367.362,195.892,670.942,113.731,794.53
Current assets
Inventories85,606.413,042.352,267.371,729.991,723.72
Investments (B)3,552.504,290.655,613.824,723.242,913.14
Trade receivables1,546.68471.75882.24750.27547.40
Cash and cash equivalents506.10382.78696.1970.96129.39
Bank balances other than cash equivalents24.2425.4916.3319.5097.10
Other financial assets238.6639.2643.1128.539.53
Income tax liabilities (net)38.97
Other current assets645.63219.69171.42231.10138.32
Total current assets11,120.228,510.949,690.487,553.595,558.60
Total assets13,487.5810,706.8312,361.429,667.327,353.13
Equity and liabilities
Equity
Equity share capital114.41114.41114.41114.4128.60
Other equity9,844.027,881.499,065.187,023.595,754.14
Total equity9,958.437,995.909,179.597,138.005,782.74
Non-current liabilities
Lease liabilities16.4218.8717.6813.30
Provisions6.737.056.7332.3526.36
Deferred tax liabilities (net)39.7461.1189.8244.0834.97
Total non-current liabilities62.8987.03114.2389.7361.33
Current liabilities
Borrowings62.25101.3871.61
Lease liabilities2.452.282.371.04
Trade payables678.46430.96500.75327.43143.53
Other financial liabilities125.7488.02148.95106.26115.64
Other current liabilities574.72515.31510.28411.68562.92
Provisions225.32214.07241.36180.32135.74
Income tax liabilities (net)24.9115.7837.6938.43
Total current liabilities3,466.262,623.903,067.602,439.591,509.06
Total liabilities3,529.152,710.933,181.832,529.321,570.39
Total equity and liabilities13,487.5810,706.8312,361.429,667.327,353.13
Ajax Engineering IPO 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.

For more information please check Ajax Engineering IPO DRHP

Comparison with Listed Industry Peers

Following is the comparison with the peer group companies of the Company listed in India and in the same line of business as the Company:

Cpany NameFace Value (₹ per share)Total Income (₹ in million)EPS (Basic) (₹)EPS (Diluted) (₹)NAV (₹ per share)P/E RatioP/B RatioRoNW (%)
Ajax Engineering Limited1.0017,800.7419.6819.5880.2419.39%
Action Construction Equipment Ltd2.0029,908.9727.5627.56103.4246.1312.2926.65%
BEML Limited10.0040,965.6267.6667.66640.5554.245.7310.56%
Escorts Kubota Limited10.0092,482.1096.8096.64780.8335.734.4211.44%

Also Check upcoming —IPO

Leave a Comment