Bookbuilding IPO | ₹1,269 Cr | Listed at BSE, NSE | Mon, Feb 10, 2025 - Wed, Feb 12, 2025
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 is set final issue price at ₹629 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 .
ICICI Securities Ltd. is the book running lead manager and MUFG Intime India Pvt.Ltd. is the registrar of the issue.
Refer to Ajax Engineering IPO RHP for detailed Information.
IPO Open
Mon, Feb 10, 2025
IPO Close
Wed, Feb 12, 2025
Issue Price
₹629 per share
Market Cap (Pre-IPO)
₹7,196.19 Cr
| IPO Date | 10 to 12 Feb, 2025 |
| Listed on | Mon, Feb 17, 2025 |
| Face Value | ₹1 per share |
| Price Band | ₹599 to ₹629 |
| Issue Price | ₹629 per share |
| Lot Size | 23 Shares |
| Sale Type | OFS only |
| Issue Type | Bookbuilding IPO |
| Listing At | BSE, NSE |
| Employee Discount | ₹59.00 |
| Total Issue Size | 2,01,80,446 shares (agg. up to ₹1,269 Cr) |
| Offer for Sale | 2,01,80,446 shares of ₹1 (agg. up to ₹1,269 Cr) |
| Share Holding Pre Issue | 11,44,06,800 shares |
| Share Holding Post Issue | 11,44,06,800 shares |
| BSE Script Code / NSE Symbol | 544356 / AJAXENGG |
| ISIN | INE274Y01021 |
Ajax Engineering IPO offers total 2,01,80,446 shares. Out of which 1,00,50,749 (49.80%) allocated to QIB, 40,20,300 (19.92%) allocated to QIB (Ex- Anchor), 30,15,225 (14.94%) allocated to NII 70,35,525 (34.86%) allocated to RII and 60,30,449 (29.88%) allocated to Anchor investors.
| Investor Category | Shares Offered | Max Allottees |
|---|---|---|
| QIB Shares Offered | 1,00,50,749 (49.80%) | NA |
| − Anchor Investor Shares Offered | 60,30,449 (29.88%) | NA |
| − QIB (Ex. Anchor) Shares Offered | 40,20,300 (19.92%) | NA |
| NII (HNI) Shares Offered | 30,15,225 (14.94%) | NA |
| − bNII > ₹10L | 20,10,150 (9.96%) | 6,242 |
| − sNII < ₹10L | 10,05,075 (4.98%) | 3,121 |
| Retail Shares Offered | 70,35,525 (34.86%) | 3,05,892 |
| Employee Shares Offered | 78,947 (0.39%) | NA |
| Total Shares Offered | 2,01,80,446 (100.00%) |
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 | ₹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 raises ₹379.32 crore from anchor investors. Ajax Engineering IPO Anchor bid date is February 7, 2025.
📝 Anchor Investors Letter (PDF)
| Bid Date | Fri, Feb 7, 2025 |
| Shares Offered | 60,30,449 |
| Anchor Portion (₹ Cr.) | 379.32 |
| Anchor lock-in period end date for 50% shares (30 Days) | Fri, Mar 14, 2025 |
| Anchor lock-in period end date for remaining shares (90 Days) | Tue, May 13, 2025 |
| Application Category | Maximum Bidding Limits | Bidding at Cut-off Price Allowed |
|---|---|---|
| Only RII | Up to Rs 2 Lakhs | Yes |
| Only sNII | Rs 2 Lakhs to Rs 10 Lakhs | No |
| Only bNII | Rs 10 Lakhs to NII Reservation Portion | No |
| Only employee | Up to Rs 5 Lakhs | Yes |
| Employee + RII/NII |
|
Yes for Employee and RII/NII |
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:
As of September 30, 2024, the service team included 85 employees, such as coordinators, managers, specialists, and customer service executives supporting our dealer network.
Competitive Strength
| 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 |
| NET Worth | 995.84 | 917.96 | 713.80 | 578.27 |
| Reserves and Surplus | 984.40 | 906.52 | 702.36 | 575.41 |
| Total Borrowing | 6.23 | 10.14 | 7.16 | |
| Amount in ₹ Crore | ||||
| KPI | Mar 31, 2024 |
|---|---|
| ROE | 24.53% |
| ROCE | 32.82% |
| Debt/Equity | 0.01 |
| RoNW | 19.39% |
| PAT Margin | 12.65% |
| Price to Book Value | 7.84 |
| Pre IPO | Post IPO | |
|---|---|---|
| EPS (₹) | 19.68 | 17.66 |
| P/E (x) | 31.96 | 35.62 |
| Promoter Holding | 93.5% | 80% |
| Market Cap | ₹7,196.19 Cr. |
The Ajax Engineering IPO is subscribed 6.06 times on February 12, 2025 5:04:50 PM (Day 3). The public issue subscribed 1.94 times in the retail category, 13.04 times in the QIB category, and 6.46 times in the NII category. Check Day by Day Subscription Details (Live Status)
| Category | Subscription (times) | Shares Offered | Shares bid for |
|---|---|---|---|
| QIB | 13.04 | 40,20,300 | 5,24,30,915 |
| NII | 6.46 | 30,15,225 | 1,94,82,058 |
| bNII (bids above ₹10L) | 7.67 | 20,10,150 | 1,54,26,123 |
| sNII (bids below ₹10L) | 3.58 | 10,05,075 | 35,99,155 |
| Retail | 1.94 | 70,35,525 | 1,36,42,588 |
| Employee | 2.62 | 78,947 | 2,06,816 |
| Total | 6.06 | 1,41,49,997 | 8,57,62,377 |
Total Application : 3,10,879
| # | Issue Expenses | Est Amt (₹ Cr.) |
|---|---|---|
| 1 | BRLM’s fees and commission including underwriting commission, as applicable | 37.30 |
| 2 | Commission/processing fee for SCSBs, Sponsor Bank and Bankers to the Offer. Brokerage and selling commission and bidding charges for Members of the Syndicate, Registered Brokers, RTAs and CDPs | 5.83 |
| 3 | Fees payable to Registrar to the Offer | |
| 4 | Fees payable to Statutory Auditors | 5.02 |
| 5 | Fees payable to the legal counsels to the Offer | 8.62 |
| 6 | Listing fees, SEBI filing fees, upload fees, BSE and NSE processing fees, book building software fees and other regulatory expenses | 4.21 |
| 7 | Printing and distribution of issue stationery | 0.27 |
| 8 | Advertising and marketing expenses | 5.67 |
| 9 | Miscellaneous | 12.48 |
| Price Details | BSE | NSE |
|---|---|---|
| Final Issue Price | ₹629.00 | ₹629.00 |
| Open | ₹593.00 | ₹576.00 |
| Low | ₹565.00 | ₹566.00 |
| High | ₹608.45 | ₹609.00 |
| Last Trade | ₹595.60 | ₹595.40 |
Ajax Engineering IPO is a main-board IPO of 2,01,80,446 equity shares of the face value of ₹1 aggregating up to ₹1,269 Crores. The issue is priced at ₹629 per share. The minimum order quantity is 23.
The IPO opens on Mon, Feb 10, 2025, and closes on Wed, Feb 12, 2025.
MUFG Intime India Pvt.Ltd. is the registrar for the IPO. The shares are proposed to be listed on BSE, NSE.
Zerodha customers can apply online in Ajax Engineering IPO using UPI as a payment gateway. Zerodha customers can apply in Ajax Engineering IPO by login into Zerodha Console (back office) and submitting an IPO application form.
Steps to apply in Ajax Engineering IPO through Zerodha
Visit Zerodha IPO Application Process Review for more detail.
The Ajax Engineering IPO opens on Mon, Feb 10, 2025 and closes on Wed, Feb 12, 2025.
Ajax Engineering IPO lot size is 23, and the minimum amount required for application is ₹14,467.
You can apply in Ajax Engineering IPO online using either UPI or ASBA as a payment method. ASBA IPO application is available in the net banking of your bank account. UPI IPO Application is offered by brokers who don't offer banking services. Read more detail about applying IPO online through Zerodha, Upstox, 5Paisa, Nuvama, HDFC Bank, and SBI Bank.
The finalization of Basis of Allotment for Ajax Engineering IPO will be done on Thursday, February 13, 2025, and the allotted shares will be credited to your demat account by Fri, Feb 14, 2025. Check the Ajax Engineering IPO allotment status.
The Ajax Engineering IPO listing date is on Mon, Feb 17, 2025.
