Ajax Engineering Limited
Ajax Engineering has a diverse product portfolio in the concrete equipment segment, including self-loading concrete mixers, batching plants, transit mixers, boom pumps, concrete pumps, self-propelled boom pumps, slip-form pavers, and 3D concrete printers. It also provides spare parts and facilitates after-sales service through its dealer network. As of September 30, 2024, the company’s distribution network includes 51 dealerships across 23 Indian states, offering 114 touchpoints, comprising 51 dealer headquarters and 63 branches, 34 of which also serve as service centers. In FY 2024, 81.71% of its revenue was generated from the sale of SLCMs.
Price Band₹599 - ₹629 |
Dates10 Feb - 12 Feb |
GMP₹47 (7.47%) |
Subscriptions6.45 times |
Issue Size₹1,268.88 Crs |
Ajax Engineering IPO Objects
Since the IPO is an Offer for Sale (OFS), the company will not receive any fresh proceeds from the issue
Ajax Engineering IPO Details
Price Band₹599 - ₹629 |
Listing AtNSE & BSE |
IPO Issue Type100% Book Built Offer |
Fresh Issue₹0.00 (0.00 Shares) |
Offer For Sale₹1,268.88 Cr (2.02 Cr Shares) |
Total Issue₹1,268.88 Cr (2.02 Cr Shares) |
Face Value₹1 per equity share |
Ajax Engineering IPO Lot Information
| Investor Category | Lot | Shares | Amount | |
|---|---|---|---|---|
| Retail |
Minimum
1
23
14,467
Maximum
13
299
1,88,071
|
|||
| Small HNI |
Minimum
14
322
2,02,538
Maximum
69
1,587
9,98,223
|
|||
| Big HNI |
Minimum
70
1,610
10,12,690
|
|||
Ajax Engineering IPO Subscription
Updated as on 12-Feb-2025 19:00:00
| Investor Category | Subscription (times) | Shares Offered | Shared Bid |
|---|---|---|---|
| QIB | 14.41 | 40,20,300 | 5,79,46,016 |
| NII | 6.47 | 30,15,225 | 1,94,95,237 |
| bNII (bids above ₹10L) | 7.88 | 20,10,150 | 1,58,30,509 |
| sNII (bids between ₹2L to ₹10L) | 3.65 | 10,05,075 | 36,64,728 |
| Retail | 1.93 | 70,35,525 | 1,35,63,767 |
| Employee | 2.62 | 78,947 | 2,06,931 |
| Total | 6.45 | 1,41,49,997 | 9,12,11,951 |
Subscription data excludes the Anchor Investor portion.
Ajax Engineering IPO GMP
The estimated Grey Market Premium of Ajax Engineering IPO is ₹47 per share (7.47%)
- GMPs are available for IPOs with listing dates from May 1, 2025, onwards.
- The GMP prices displayed here reflect news related to grey market trends. We do not trade or deal in the grey market, including subject-to-rates, nor do we recommend participating in grey market trading.
Category Allocation
| Particulars | Allocation |
|---|---|
| QIBs | Not more than 50% of Net Offer |
| Big HNIs (NII) | Not less than 10% of Net Offer |
| Small HNIs (NII) | Not less than 5% of Net Offer |
| Retail | Not less than 35% of Net Offer |
Ajax Engineering IPO Financials
| Particulars | Sep-24 | Mar-24 | Mar-23 | Mar-22 |
|---|---|---|---|---|
| Revenue from Operations | 769.99 | 1,741.40 | 1,151.13 | 763.29 |
| Profit after Tax | 101.02 | 225.15 | 135.90 | 66.21 |
| Net Worth | A3 | 995.84 | 917.96 | 713.80 |
| Total Borrowing | A4 | 995.84 | 917.96 | 713.80 |
| Total Assets | 1,348.76 | 1,236.14 | 966.73 | 735.31 |
| NAV per share (in ₹) | 87.04 | 80.24 | 62.39 | 50.55 |
| EPS - Basic (in ₹) | 8.83 | 19.68 | 11.88 | 5.79 |
- The financial information presented is on a consolidated basis
Key Performance Indicators
| KPI | Ratio |
|---|---|
| ROCE (%) | 32.82 |
| ROA (%) | 18.21 |
| GP Margin (%) | 26.71 |
| EBITDA (%) | 15.82 |
| PAT (%) | 12.65 |
| Price to earning (PE) | 31.96 |
| Mkt Cap (in Crs.) | 7,196.19 |
| Price to Book (PB) | 7.84 |
- All the data pertains to FY 2023-24.
- PE, PB, and market capitalization are calculated based on the Upper Price Band.
Ajax Engineering IPO Peer Comparision
| Particulars | co. | Escorts Kubota Limited | BEML Limited | Action Construction Equipment Limited |
|---|---|---|---|---|
| Revenue from operations (in Crs) | 1,741.40 | 10,754.00 | 4,054.33 | 2,913.80 |
| Profit after Tax (in Crs) | 225.15 | 1,076.62 | 281.77 | 328.20 |
| EPS (Basic) | 19.68 | 27.56 | 67.66 | 96.80 |
| Price to Book (PB) | 7.84 | 12.29 | 5.73 | 4.42 |
| NAV per share | 80.24 | 103.42 | 67.66 | 96.64 |
| Price to Earning | 31.96 | 46.13 | 54.24 | 35.73 |
| EBITDA Margin (%) | 15.82 | 12.25 | 10.91 | 13.84 |
| PAT Margin (%) | 12.65 | 9.66 | 6.88 | 10.97 |
| ROA (%) | 18.21 | 8.68 | 5.17 | 15.13 |
- All the information pertains to FY 2023-24.
- The PE ratio is calculated using the Upper Price Band for the Issuer and the closing price as of February 1, 2025 for Peers
Ajax Engineering IPO Peer Comparision
| Particulars | co. |
|---|---|
| Revenue from operations (in Crs) | 1,741.40 |
| Profit after Tax (in Crs) | 225.15 |
| EPS (Basic) | 19.68 |
| Price to Book (PB) | 7.84 |
| NAV per share | 80.24 |
| Price to Earning | 31.96 |
| EBITDA Margin (%) | 15.82 |
| PAT Margin (%) | 12.65 |
| ROA (%) | 18.21 |
| Escorts Kubota Limited | BEML Limited | Action Construction Equipment Limited |
|---|---|---|
| 10,754.00 | 4,054.33 | 2,913.80 |
| 1,076.62 | 281.77 | 328.20 |
| 27.56 | 67.66 | 96.80 |
| 12.29 | 5.73 | 4.42 |
| 103.42 | 67.66 | 96.64 |
| 46.13 | 54.24 | 35.73 |
| 12.25 | 10.91 | 13.84 |
| 9.66 | 6.88 | 10.97 |
| 8.68 | 5.17 | 15.13 |
- All the information pertains to FY 2023-24.
- The PE ratio is calculated using the Upper Price Band for the Issuer and the closing price as of February 1, 2025 for Peers
Promoter Details
| Name | Shareholding |
|---|---|
| The Johns Loaves Trust | 19.31% |
| Ohana Trust | 18.00% |
| Green Haven Trust | 18.00% |
| Jacob Hansen Family Trust | 17.47% |
| Other Promoters | 15.1% |
Management Details
| Name | Designation |
|---|---|
| Krishnaswamy Vijay | Chairman |
| Shubhabrata Saha | MD & CEO |
| Tuhin Basu | Chief Financial Officer |
Company Details
Ajax Engineering Limited
253/1, 11th Main Road 3rd Phase, Peenya Industrial Area, Bengaluru 560 058 Karnataka, India
Phone: +91 8296336111
Email: complianceofficer@ajax-engg.com
Website: www.ajax-engg.com
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Visit WebsiteFrequently Asked questions?
Find answers to common questions that come in your mind related to IPO.
Ajax Engineering IPO is a Mainboard IPO having an issue size of Rs. ₹1,268.88 Crs. Ajax Engineering IPO is priced at ₹599 - ₹629 per share. The issue opens on 10 Feb 25 and closes on 12 Feb 25.
Ajax Engineering IPO opens on 10 Feb 25 and closes on 12 Feb 25.
The estimated Grey Market Premium of Ajax Engineering IPO is ₹47 per share (7.47%).
The minimum lot size of Ajax Engineering IPO is 23 shares & the minimum application amount is Rs. 14467.
The allotment date of Ajax Engineering IPO is 13 Feb 25.
The listing date of Ajax Engineering IPO is 17 Feb 25.
Ajax Engineering IPO is subscribed 6.45 times.
Ajax Engineering IPO is priced at ₹599 - ₹629 per share.
Click the allotment link on Ajax Engineering IPO page of IPO360.
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