Mumbai, February 8, 2025: Ajax Engineering Limited is all set to launch its Initial Public Offering (IPO) on February 10, 2025, with bidding open until February 13, 2025. The company aims to raise ₹1,269.35 crore through this offering, which will be an Offer for Sale (OFS), with no fresh issue of shares. The shares will be listed on the Bombay Stock Exchange (BSE) and the National Stock Exchange (NSE) on February 17, 2025.
Key IPO Details:
- IPO Opening Date: February 10, 2025
- IPO Closing Date: February 13, 2025
- Listing Date: February 17, 2025
- Price Band: ₹599 – ₹629 per share
- Lot Size: 23 shares (Minimum)
- Total Shares on Offer: 2,01,80,446 shares
- Total Amount to be Raised: ₹1,269.35 crore
- IPO Type: Offer for Sale (OFS) – No fresh issue of shares
The IPO proceeds will primarily go to the existing investors of Ajax Engineering, who are selling their stake. The company is not issuing any new shares as part of this offering.
How to Apply for the Ajax Engineering IPO
Investors can apply for the Ajax Engineering IPO via the following methods:
Online Trading Platforms:
Apply through brokerage platforms like Zerodha, Upstox, ICICI Direct, Groww etc. Payment can be made through UPI, which is easier and more efficient for retail investors.
Offline Mode:
Visit your broker or IPO application centre, fill out the physical application form, and submit the necessary documents and payment.
Investment Details
- Retail Investors:
- Minimum Investment: One lot (23 shares), which would cost ₹14,467 at the upper price band of ₹629 per share.
- Maximum Investment: Up to 13 lots (299 shares), requiring a total investment of ₹1,88,071 at the upper price band.
- Reservation Breakdown:
- 50% of the IPO is reserved for Qualified Institutional Buyers (QIB).
- 35% is reserved for Retail Investors.
- 15% is reserved for Non-Institutional Investors (NII).
Key Financials of Ajax Engineering Ltd.
Ajax Engineering has shown consistent growth in recent years, backed by its strong presence in the concrete equipment manufacturing sector. Below are the financial highlights from the company’s recent financial performance:
- Revenue (FY 2024): ₹500 crore
- Profit After Tax (PAT) (FY 2024): ₹55 crore
- EBITDA (FY 2024): ₹85 crore
- EBITDA Margin: 17%
- Net Profit Margin: 11%
Ajax Engineering has steadily progressed with the strength of the order book, coupled with growing dealers. With EBITDA and net margins for profitability and good operating efficiency, it stands strongly positioned for good growth ahead.
About Ajax Engineering Limited
Founded in 1992, Ajax Engineering is a leading manufacturer of concrete equipment in India, specializing in products such as self-loading concrete mixers, batching plants, transit mixers, boom pumps, concrete pumps, and 3D concrete printers. The company serves many clients in the infrastructure, construction, and engineering sectors.
- Market Presence: Ajax Engineering has a network of 51 dealerships spread across 23 states in India, providing services in 114 locations nationwide.
- Product Portfolio:
- Self-loading concrete mixers
- Batching plants
- Transit mixers
- Concrete pumps
- Boom pumps
- 3D concrete printers
Expected Listing and Performance
- Listing Date: February 17, 2025
- Stock Exchanges: Shares of Ajax Engineering will be listed on both the BSE and NSE.
With the company’s vast market presence, sound financial performance, and wide distribution network, high investor interest is expected in the IPO.
Must Read: Upcoming IPOs in India and Market Boom in 2025
Conclusion
The Ajax Engineering IPO gives an exciting opportunity for retail investors to invest in a market leader in the growing concrete equipment manufacturing industry. With the huge, attractive pricing band and with a solid track record of profitability, the IPO is positioned for success. Interested investors will submit bids between February 10 and February 13, 2025.
For further information, consult with your financial advisor or broker.
IPO Quick Summary Table
| Details | Information |
|---|---|
| IPO Opening Date | February 10, 2025 |
| IPO Closing Date | February 13, 2025 |
| Listing Date | February 17, 2025 |
| Price Band | ₹599 – ₹629 per share |
| Lot Size (Minimum) | 23 shares |
| Retail Minimum Investment | ₹14,467 (for 1 lot) |
| Retail Maximum Investment | ₹1,88,071 (for 13 lots) |
| Reservation for Retail Investors | 35% |
| Reservation for QIB | 50% |
| Reservation for NII | 15% |
| Shares on Offer | 2,01,80,446 shares |
| IPO Type | Offer for Sale (OFS) |
| Revenue (FY 2024) | ₹500 crore |
| Profit After Tax (FY 2024) | ₹55 crore |
| EBITDA (FY 2024) | ₹85 crore |
| EBITDA Margin | 17% |
| Net Profit Margin | 11% |
This table provides a detailed overview of Ajax Engineering’s IPO and key financial information to help investors make informed decisions.
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