Ajax Engineering IPO
Bookbuilding IPO | ₹1,269.00 Cr | Listing at BSE, NSE
IPO Open
Mon, Feb 10, 2025
IPO Close
Wed, Feb 12, 2025
Price Band
₹599.00 to ₹629.00
Market Cap (Pre-IPO)
₹7,196.19 Cr
IPO Details
| IPO Date | Feb 10, 2025 to Feb 12, 2025 |
| Listing Date | Tentative: Feb 17, 2025 |
| Face Value | ₹1.00 per share |
| Price Band | ₹599.00 to ₹629.00 |
| Lot Size | 23 Shares (Minimum: ₹14,467.00) |
| Sale Type | Offer For Sale |
| Issue Type | Bookbuilding IPO |
| Listing At | BSE, NSE |
| Issue Size | ₹1,269.00 Crores |
| Total Shares Offered | 20,180,446 shares |
| Offer For Sale | 20,180,446 shares |
Subscription Data
| Category | Times Subscribed |
|---|---|
| QIB | 13.04x |
| NII | 6.46x |
| RII | 1.94x |
| Total | 6.06x |
Ajax Engineering IPO Reservation
| Investor Category | Shares Offered |
|---|---|
| QIB Shares Offered | 1,00,50,749 (49.80%) |
| Retail Shares Offered | 70,35,525 (34.86%) |
| NII Shares Offered | 30,15,225 (14.94%) |
Ajax Engineering IPO Lot Size
Investors can bid for a minimum of 23 shares and in multiples thereof.
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (Min) | 1 | 23 | ₹14,467 |
| Retail (Max) | 13 | 299 | ₹188,071 |
| S-HNI (Min) | 14 | 322 | ₹202,538 |
| S-HNI (Max) | 69 | 1,587 | ₹998,223 |
| B-HNI (Min) | 70 | 1,610 | ₹1,012,690 |
Ajax Engineering Financial Information (Restated Consolidated)
| Period Ended | 30 Sep 2024 | 31 Mar 2024 | 31 Mar 2023 | 31 Mar 2022 |
|---|---|---|---|---|
| Assets | 1,348.76 | 1,236.14 | 966.73 | 735.31 |
| Total Income | 794.16 | 1,780.07 | 1,172.57 | 771.85 |
| Profit After Tax | 101.02 | 225.15 | 135.90 | 66.21 |
| EBITDA | 0.00 | 0.00 | 0.00 | 0.00 |
| NET Worth | 995.84 | 917.96 | 713.80 | 578.27 |
| Reserves and Surplus | 984.40 | 906.52 | 702.36 | 575.41 |
| Total Borrowing | 0.00 | 6.23 | 10.14 | 7.16 |
Amount in ₹ Cr
Key Performance Indicators
As of Monday, March 31, 2025| KPI | Values |
|---|---|
| ROE (Return on Equity) | 24.53% |
| ROCE (Return on Capital Employed) | 32.82% |
| Debt/Equity | 0.01 |
| RoNW (Return on Net Worth) | 19.39% |
| PAT Margin (Profit After Tax Margin) | 12.65% |
| EBITDA Margin | 0.00% |
| Price to Book Value | 7.84 |
| Pre IPO | Post IPO | |
|---|---|---|
| EPS Rs | 19.68 | 17.66 |
| P/E (x) | 31.96 | 35.62 |
| Promoter Holding | 93.50% | 80.00% |
Company Promoters
- The Promoters of the company 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.
Company Overview
Incorporated in July 1992, Ajax Engineering Limited manufactures a wide range of concrete equipment and services across the value chain.
As of September 30, 2024, The company has developed 141 concrete equipment variants for the value chain and sold over 29,800 units in India in the last ten years.
As of September 30, 2024, the design, engineering, and development team has 79 full-time employees, about 15.96% of the total workforce.
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
As of September 30, 2024, the service team included 85 employees, such as coordinators, managers, specialists, and customer service executives supporting our dealer network.
Company Strengths
- Market leader in a large and fast-growing SLCM market
- Leading concrete equipment company with a comprehensive range of concrete equipment, services and solutions across the concrete application value chain
- Strong in-house design, development and engineering capabilities
- Technology-led assembly and manufacturing processes and robust supplier network
- Large dealer network with widespread distribution model
- Diversified customer base with longstanding relationships in the concrete equipment market
- Experienced management team supported by qualified and experienced personnel.
Quick Info
| Sector | Engineering |
| Exchange | BSE, NSE |
| Market Cap (Pre-IPO) | ₹7,196.19 Cr |
| GMP | 0.00 |
Important Dates
| IPO Open | Feb 10, 2025 |
| IPO Close | Feb 12, 2025 |
| Allotment Date | Feb 13, 2025 |
| Credit to Demat | Feb 14, 2025 |
| Listing Date | Tentative: Feb 17, 2025 |
Lead Manager(s)
ICICI Securities Ltd.
Registrar
Description
- Ajax Engineering IPO is a book build issue of ₹1,268.93 crores. The issue is entirely an offer for sale of 2.02 crore shares of ₹1,268.93 crore.
- Ajax Engineering IPO bidding started from Feb 10, 2025 and ended on Feb 12, 2025. The allotment for Ajax Engineering IPO was finalized on Feb 13, 2025. The shares got listed on BSE, NSE on Feb 17, 2025.
- Ajax Engineering IPO price band is set at ₹629.00 per share . The lot size for an application is 23. The minimum amount of investment required by an retail is ₹14,467 (23 shares) (based on upper price). The lot size investment for sNII is 14 lots (322 shares), amounting to ₹2,02,538, and for bNII, it is 70 lots (1,610 shares), amounting to ₹10,12,690.
- The issue includes a reservation of up to 78,947 shares for employees offered at a discount of ₹59.00 to the issue price.