The Ajax Engineering IPO is scheduled to open on February 10, 2025, and will close on February 12, 2025. This Book Built Issue aims to raise approximately ₹1,269.35 crores, with a fresh issue of ₹2.02 crores and an offer for sale of up to 22,881,718 equity shares, each with a face value of ₹1. The IPO price band has been set at ₹599 to ₹629 per share.
The retail quota is allocated 35%, QIB 50%, and HNI 15%. The listing of the IPO is set to take place on both BSE and NSE on February 17, 2025, with allotment results being announced on February 13, 2025.
Ajax Engineering reported a significant increase in revenue, reaching ₹1,780.07 crores in 2024, up from ₹1,172.57 crores in 2023. The company also saw its profit rise to ₹225.28 crores in 2024, compared to ₹135.53 crores in the previous year. Based on these solid financials, investors may consider applying for the IPO with a long-term perspective.
Overview of Contents
Ajax Engineering IPO Overview
| IPO Opening Date | February 10, 2025 |
|---|---|
| IPO Closing Date | February 12, 2025 |
| Face Value | ₹1 Per Equity Share |
| Price Range | ₹[.] to ₹[.] Per Share |
| Total Issue Size | Approx ₹[.] Crores |
| Offer for Sale | Approx 2,28,81,718 Equity Shares |
| Issue Type | Book Built Issue |
| Stock Exchange Listing | BSE & NSE |
| Retail Investor Allocation | Not more than 35% |
| Qualified Institutional Buyer | Not more than 50% |
| Non-Institutional Investor | Not more than 15% |
| DRHP Prospectus | Click here |
| RHP Prospectus | Click here |
| Anchor Investor List | Click here |
Ajax Engineering IPO Lot Size
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (Min) | 1 | 23 | ₹14,467 |
| Retail (Max) | 13 | 299 | ₹1,88,071 |
| S-HNI (Min) | 14 | 322 | ₹2,02,538 |
| S-HNI (Max) | 69 | 1,587 | ₹9,98,223 |
| B-HNI (Min) | 70 | 1,610 | ₹10,12,690 |
Ajax Engineering IPO Dates
| Event | Details |
|---|---|
| Opening Date of IPO | February 10, 2025 |
| Closing Date of IPO | February 12, 2025 |
| Allotment Finalization Date | February 13, 2025 |
| Refund Process Date | February 14, 2025 |
| Credit to Demat Account | February 14, 2025 |
| Listing Date on Stock Exchanges | February 17, 2025 |
AJAX Engineering, established in 1992, is a global leader in manufacturing self-loading concrete mixers and providing comprehensive concreting solutions. Headquartered in Bangalore, the company has a wide product range including concrete batching plants, transit mixers, boom pumps, and slip-form pavers. With over 27,800 concrete equipment units sold in India and a dealer network across the country, including Nepal and Bhutan, AJAX continues to expand globally.
The company reported ₹1,741 crores in revenue for FY 2024 and is constructing a new plant in Adinarayanahosahalli, expected to be completed in 2025. AJAX is committed to technology and innovation, holding ISO 9001:2015 & ISO 14001:2015 certifications. Its after-sales support network spans India and several international markets, ensuring customer satisfaction and service excellence.
Ajax Engineering IPO Reservation
| Investor Category | Shares Offered |
|---|---|
| QIB Shares Offered | Not more than 50% of the Net Offer |
| Retail Shares Offered | Not less than 35% of the Net Offer |
| NII (HNI) Shares Offered | Not more than 15% of the Net Offer |
Category Reservation Detail Table
| Category | Bidding Limit | Cut-off Price Allowed | Bidding Limit |
|---|---|---|---|
| Retail Investor (RII) | Up to ₹2 Lakhs | ✅ Yes | Up to ₹2 Lakhs |
| Small NII (sNII) | ₹2 Lakhs – ₹10 Lakhs | ❌ No | ₹2 Lakhs – ₹10 Lakhs |
| Big NII (bNII) | Above ₹10 Lakhs (NII Quota) | ❌ No | Above ₹10 Lakhs (NII Quota) |
| Employee | Up to ₹2 Lakhs | ✅ Yes | Up to ₹2 Lakhs |
| Employee + RII/NII | Employee: Up to ₹2 Lakhs (Discount may apply) | Employee + RII/NII | Employee + RII/NII |
Ajax Engineering IPO Financial Performance
Ajax Engineering has shown significant financial growth over the past three years, with increasing revenues, profits, and assets. The company’s consistent performance highlights its strong market position and commitment to innovation and customer satisfaction.
| Year | Revenue (₹ Crores) | Expense (₹ Crores) | Profit After Tax (₹ Crores) | Assets (₹ Crores) |
|---|---|---|---|---|
| 2022 | ₹771.85 | ₹681.43 | ₹66.38 | ₹735.31 |
| 2023 | ₹1,172.57 | ₹989.62 | ₹135.53 | ₹966.73 |
| 2024 | ₹1,780.07 | ₹1,478.16 | ₹225.28 | ₹1,236.14 |
Peer Group Comparison
| Company | EPS (₹) | P/E Ratio | RoNW (%) | NAV (₹) | Income (₹ Cr.) |
|---|---|---|---|---|---|
| Action Construction Equipment Ltd. | 27.56 | 45.38 | 26.65% | 103.42 | 2,990.90 |
| BEML Limited | 67.66 | 58.07 | 10.56% | 640.55 | 4,096.56 |
| Escorts Kubota Limited | 96.80 | 39.49 | 11.44% | 780.83 | 9,248.21 |
Ajax Engineering IPO Valuation – FY2024
the key financial metrics for Ajax Engineering’s IPO valuation for FY2024. These figures reflect the company’s profitability, efficiency, and valuation, offering valuable insights for potential investors.
| Key Performance Indicator (KPI) | Value |
|---|---|
| Return on Equity (ROE) | 24.53% |
| Return on Capital Employed (ROCE) | 32.82% |
| EBITDA Margin | 15.82% |
| Profit After Tax (PAT) Margin | 12.65% |
| Debt to Equity Ratio | 0.01 |
| Earning Per Share (EPS) | ₹19.68 (Basic) |
| Price/Earning (P/E) Ratio | N/A |
| Return on Net Worth (RoNW) | 19.39% |
| Net Asset Value (NAV) | ₹80.24 |
Ajax Engineering IPO Review
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Ajax Engineering IPO Registrar
Link Intime India Private Limited
Phone: +91 81 0811 4949
E-mail: ajaxengineering.ipo@linkintime.co.in
Website: https://www.linkintime.co.in/Initial_Offer/public-issues.html
Company Address
Ajax Engineering Limited
253/1, 11th Main Road, 3rd Phase, Peenya
Industrial Area, Bengaluru 560 058, Karnataka, India
Phone: +91 82 9633 6111
Email: complianceofficer@ajax-engg.com
Website: www.ajax-engg.com
Ajax Engineering IPO FAQs
What is the Ajax Engineering IPO size?
The Ajax Engineering IPO is a book-built issue of approximately ₹1,269.35 crores, comprising a fresh issue of ₹2.02 crores and an offer for sale of 22,881,718 equity shares.
When will the Ajax Engineering IPO open and close?
The IPO opens for subscription on February 10, 2025 and closes on February 12, 2025.
What is the price band for the IPO?
The price band for the Ajax Engineering IPO is set at ₹599 to ₹629 per share.
What is the minimum lot size for the IPO?
The minimum lot size for retail investors is 23 shares, requiring an investment of ₹14,467.
When will the allotment be finalized?
The allotment of shares will be finalized on February 13, 2025.
When is the IPO listing date?
The Ajax Engineering IPO is expected to list on BSE and NSE on February 17, 2025.
