Ajax Engineering IPO Date, Review, Price, Allotment Details
Ajax Engineering’s highly anticipated IPO is set to open for subscription on February 10, 2025, and will close on February 12, 2025. This IPO follows a Book Built Issue format. The company aims to raise approximately ₹[.] crores, comprising a fresh issue of ₹[.] crores and an offer for sale (OFS) of 22,881,718 equity shares.
The price band for the Ajax Engineering IPO is set at ₹[.] to ₹[.] per share, with an IPO listing scheduled for February 17, 2025, on BSE and NSE. The allotment of shares will be finalized on February 13, 2025.
In terms of allocation, the IPO is divided among different investor categories:
- Retail Investors: 35%
- Qualified Institutional Buyers (QIBs): 50%
- Non-Institutional Investors (HNIs/NII): 15%
Ajax Engineering IPO Details
| IPO Details | Information |
|---|---|
| IPO Open Date | February 10, 2025 |
| IPO Close Date | February 12, 2025 |
| Face Value | ₹1 per equity share |
| IPO Price Band | ₹[.] to ₹[.] per share |
| Issue Size | Approx ₹[.] Crores |
| Offer for Sale (OFS) | 22,881,718 equity shares |
| Issue Type | Book Built Issue |
| IPO Listing | BSE & NSE |
| Retail Quota | 35% |
| QIB Quota | 50% |
| NII Quota | 15% |
| Draft Red Herring Prospectus (DRHP) | [Click Here] |
| Red Herring Prospectus (RHP) | [Click Here] |
| Anchor Investors List | [Click Here] |
Market Lot Size
The minimum lot size for Ajax Engineering IPO is [.] shares, with an application amount of ₹[.]. Retail investors can apply for up to 13 lots, while HNIs can apply in higher multiples.
| Category | Lot Size | Shares | Amount (₹) |
|---|---|---|---|
| Retail (Minimum) | 1 Lot | – | ₹- |
| Retail (Maximum) | 13 Lots | – | ₹- |
| S-HNI (Minimum) | 14 Lots | – | ₹- |
| B-HNI (Minimum) | 68 Lots | – | ₹- |
Important IPO Dates
| Event | Date |
|---|---|
| IPO Open Date | February 10, 2025 |
| IPO Close Date | February 12, 2025 |
| Basis of Allotment | February 13, 2025 |
| Refund Initiation | February 14, 2025 |
| Credit to Demat Account | February 14, 2025 |
| Listing Date | February 17, 2025 |
Promoters of Ajax Engineering
The promoters of the company include:
- 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
- The Johns Loaves Trust
About Ajax Engineering
Founded in 1992 as Ajax Fiori Engineering (India) Private Limited, Ajax Engineering is a Bengaluru-based company specializing in concrete equipment manufacturing. The company has sold over 27,800 pieces of equipment in India and has a strong presence across Nepal and Bhutan.
Ajax Engineering is also constructing a new manufacturing facility in Adinarayanahosahalli, expected to be completed by 2025. The company reported ₹1,780.07 crores in revenue for FY 2024, showcasing strong financial performance.
Financial Performance (₹ in Crores)
| Year | Revenue | Expense | Profit After Tax | Total Assets |
|---|---|---|---|---|
| 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 |
Key Financial Ratios (FY 2024)
| Metrics | Values |
|---|---|
| Return on Equity (ROE) | 24.53% |
| Return on Capital Employed (ROCE) | 32.82% |
| EBITDA Margin | 15.82% |
| PAT Margin | 12.65% |
| Debt to Equity Ratio | 0.01 |
| Earnings Per Share (EPS) | ₹19.68 (Basic) |
| Price to Earnings (P/E) Ratio | N/A |
| Return on Net Worth (RoNW) | 19.39% |
| Net Asset Value (NAV) | ₹80.24 |
Peer Comparison
| Company | EPS | PE Ratio | RoNW (%) | NAV (₹) | Total Income (Cr.) |
|---|---|---|---|---|---|
| Action Construction Equipment Ltd | 27.56 | 45.38 | 26.65% | 103.42 | ₹2,990.90 Cr |
| BEML Ltd | 67.66 | 58.07 | 10.56% | 640.55 | ₹4,096.56 Cr |
| Escorts Kubota Ltd | 96.80 | 39.49 | 11.44% | 780.83 | ₹9,248.21 Cr |
Objectives of the Issue
- To be updated soon.
Ajax Engineering IPO Review & Recommendations
- Canara Bank –
- Emkay Global –
- Hem Securities –
- IDBI Capital –
- SBICAP Securities –
- ICICIdirect –
Ajax Engineering IPO Registrar
- Registrar: Link Intime India Private Limited
- Phone: +91 81 0811 4949
- Email: ajaxengineering.ipo@linkintime.co.in
- Website: Link Intime
Lead Managers (Merchant Bankers)
- ICICI Securities Limited
- Citigroup Global Markets India Private Limited
- JM Financial Limited
- Nuvama Wealth Management Limited
- SBI Capital Markets Limited
Company Contact Information
- Company Name: Ajax Engineering Limited
- Address: 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
FAQs on Ajax Engineering IPO
1. What is the Ajax Engineering IPO?
Ajax Engineering IPO is a Mainboard IPO aiming to raise ₹[.] crores. The price band is set at ₹[.] to ₹[.] per share, and the IPO will list on BSE & NSE.
2. When does the Ajax Engineering IPO open and close?
The IPO opens on February 10, 2025, and closes on February 12, 2025.
3. What is the IPO lot size?
The minimum bid size is [.] shares.
4. When will the Ajax Engineering IPO be listed?
The IPO is expected to be listed on February 17, 2025, on BSE & NSE.
5. How to apply for Ajax Engineering IPO?
Investors can apply via ASBA through their bank account or UPI via stockbrokers.