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.
Event | Date |
---|---|
IPO Open Date | Monday, February 10, 2025 |
IPO Close Date | Wednesday, February 12, 2025 |
Basis of Allotment | Thursday, February 13, 2025 |
Initiation of Refunds | Friday, February 14, 2025 |
Credit of Shares to Demat | Friday, February 14, 2025 |
Listing Date | Monday, February 17, 2025 |
Cut-off time for UPI mandate confirmation | 5 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 Type | Lot Size | Shares | Amount (₹) |
---|---|---|---|
Retail Minimum | 1 | 23 | 14,467 |
Retail Maximum | 13 | 299 | 1,88,071 |
S-HNI Minimum | 14 | 322 | 2,02,538 |
B-HNI Minimum | 70 | 1,610 | 10,12,690 |
Ajax Engineering IPO Reservation Details
Investor Category | Shares Offered |
---|---|
QIB (Qualified Institutional Buyers) | Not more than 50% of the Net Offer |
Retail Investors | Not less than 35% of the Net Offer |
NII (HNI – Non-Institutional Investors) | Not more than 15% of the Net Offer |
Upcoming Ipo — Hexaware 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
Particulars | As at September 30, 2024 | As at September 30, 2023 | As at March 31, 2024 | As at March 31, 2023 | As at March 31, 2022 |
---|---|---|---|---|---|
Non-current assets | |||||
Property, plant and equipment | 1,150.13 | 1,141.23 | 1,157.23 | 1,142.25 | 1,049.76 |
Capital work-in-progress | 42.98 | 40.89 | 173.46 | 56.30 | 72.89 |
Intangible assets | 5.14 | 22.85 | 18.54 | 27.70 | 35.38 |
Right-of-use assets | 31.49 | 50.01 | 96.21 | 96.24 | 87.17 |
Intangible assets under development | – | – | 4.84 | – | – |
Investments (A) | 198.34 | 232.30 | 637.42 | 226.05 | 49.95 |
Other financial assets | 64.15 | 41.14 | 41.35 | 38.76 | 17.75 |
Non-current tax assets | 1.47 | 1.50 | 1.47 | 1.51 | 1.51 |
Other non-current assets | 170.76 | 215.86 | 145.26 | 120.08 | 80.12 |
Total non-current assets | 2,367.36 | 2,195.89 | 2,670.94 | 2,113.73 | 1,794.53 |
Current assets | |||||
Inventories | 85,606.41 | 3,042.35 | 2,267.37 | 1,729.99 | 1,723.72 |
Investments (B) | 3,552.50 | 4,290.65 | 5,613.82 | 4,723.24 | 2,913.14 |
Trade receivables | 1,546.68 | 471.75 | 882.24 | 750.27 | 547.40 |
Cash and cash equivalents | 506.10 | 382.78 | 696.19 | 70.96 | 129.39 |
Bank balances other than cash equivalents | 24.24 | 25.49 | 16.33 | 19.50 | 97.10 |
Other financial assets | 238.66 | 39.26 | 43.11 | 28.53 | 9.53 |
Income tax liabilities (net) | – | 38.97 | – | – | – |
Other current assets | 645.63 | 219.69 | 171.42 | 231.10 | 138.32 |
Total current assets | 11,120.22 | 8,510.94 | 9,690.48 | 7,553.59 | 5,558.60 |
Total assets | 13,487.58 | 10,706.83 | 12,361.42 | 9,667.32 | 7,353.13 |
Equity and liabilities | |||||
Equity | |||||
Equity share capital | 114.41 | 114.41 | 114.41 | 114.41 | 28.60 |
Other equity | 9,844.02 | 7,881.49 | 9,065.18 | 7,023.59 | 5,754.14 |
Total equity | 9,958.43 | 7,995.90 | 9,179.59 | 7,138.00 | 5,782.74 |
Non-current liabilities | |||||
Lease liabilities | 16.42 | 18.87 | 17.68 | 13.30 | – |
Provisions | 6.73 | 7.05 | 6.73 | 32.35 | 26.36 |
Deferred tax liabilities (net) | 39.74 | 61.11 | 89.82 | 44.08 | 34.97 |
Total non-current liabilities | 62.89 | 87.03 | 114.23 | 89.73 | 61.33 |
Current liabilities | |||||
Borrowings | – | – | 62.25 | 101.38 | 71.61 |
Lease liabilities | 2.45 | 2.28 | 2.37 | 1.04 | – |
Trade payables | 678.46 | 430.96 | 500.75 | 327.43 | 143.53 |
Other financial liabilities | 125.74 | 88.02 | 148.95 | 106.26 | 115.64 |
Other current liabilities | 574.72 | 515.31 | 510.28 | 411.68 | 562.92 |
Provisions | 225.32 | 214.07 | 241.36 | 180.32 | 135.74 |
Income tax liabilities (net) | 24.91 | – | 15.78 | 37.69 | 38.43 |
Total current liabilities | 3,466.26 | 2,623.90 | 3,067.60 | 2,439.59 | 1,509.06 |
Total liabilities | 3,529.15 | 2,710.93 | 3,181.83 | 2,529.32 | 1,570.39 |
Total equity and liabilities | 13,487.58 | 10,706.83 | 12,361.42 | 9,667.32 | 7,353.13 |
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 Name | Face Value (₹ per share) | Total Income (₹ in million) | EPS (Basic) (₹) | EPS (Diluted) (₹) | NAV (₹ per share) | P/E Ratio | P/B Ratio | RoNW (%) |
---|---|---|---|---|---|---|---|---|
Ajax Engineering Limited | 1.00 | 17,800.74 | 19.68 | 19.58 | 80.24 | — | — | 19.39% |
Action Construction Equipment Ltd | 2.00 | 29,908.97 | 27.56 | 27.56 | 103.42 | 46.13 | 12.29 | 26.65% |
BEML Limited | 10.00 | 40,965.62 | 67.66 | 67.66 | 640.55 | 54.24 | 5.73 | 10.56% |
Escorts Kubota Limited | 10.00 | 92,482.10 | 96.80 | 96.64 | 780.83 | 35.73 | 4.42 | 11.44% |
Also Check upcoming —IPO