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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.
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 Date | February 10, 2025 to February 12, 2025 |
| Listing Date | February 17, 2025 |
| Face Value | ₹1 per share |
| Issue Price Band | ₹599 to ₹629 per share |
| Issue Price Final | ₹629 per share |
| Lot Size | 23 Shares |
| Sale Type | Offer For Sale |
| Total Issue Size | 2,01,80,446 shares (aggregating up to ₹1,268.93 Cr) |
| Employee Discount | ₹59.00 |
| Issue Type | Bookbuilding IPO |
| Listing At | BSE, NSE |
| Share Holding Pre Issue | 11,44,06,800 shares |
| Share Holding Post Issue | 11,44,06,800 shares |
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 | Maximum 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%) |
| 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 |
Ajax Engineering IPO raises ₹379.32 crore from anchor investors. Ajax Engineering IPO Anchor bid date is February 7, 2025. Ajax Engineering IPO Anchor Investors list
| Bid Date | February 7, 2025 |
| Shares Offered | 60,30,449 |
| Anchor Portion Size (In Cr.) | 379.32 |
| Anchor lock-in period end date for 50% shares (30 Days) | March 14, 2025 |
| Anchor lock-in period end date for remaining shares (90 Days) | May 13, 2025 |
Ajax Engineering IPO opens on February 10, 2025, and closes on February 12, 2025.
| IPO Open Date | Mon, Feb 10, 2025 |
| IPO Close Date | Wed, Feb 12, 2025 |
| Tentative Allotment | Thu, Feb 13, 2025 |
| Initiation of Refunds | Fri, Feb 14, 2025 |
| Credit of Shares to Demat | Fri, Feb 14, 2025 |
| Tentative Listing Date | Mon, Feb 17, 2025 |
| Cut-off time for UPI mandate confirmation | 5 PM on Wed, Feb 12, 2025 |
Investors can bid for a minimum of 23 shares and in multiples thereof. The following table depicts the minimum and maximum investment by Individual Investors (Retail) and HNI in terms of shares and amount.
| 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 |
Note : The value will be calculated using Equity Dilution = Share Holding Pre Issue - Share Holding Post Issue
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 | 135.9 | 66.21 |
| Net Worth | 995.84 | 917.96 | 713.8 | 578.27 |
| Reserves and Surplus | 984.4 | 906.52 | 702.36 | 575.41 |
| Total Borrowing | 6.23 | 10.14 | 7.16 | |
| Amount in ₹ Crore | ||||
The market capitalization of Ajax Engineering IPO is ₹7196.19 Cr.
KPI as of Sun, Mar 31, 2024.
| KPI | Values |
|---|---|
| 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 Rs | 19.68 | 17.66 |
| P/E (x) | 31.96 | 35.62 |
The Company will not receive any proceeds of the Offer. Each of the Selling Shareholders will be entitled to the respective proportion of proceeds of the Offer for Sale after deducting its portion of the Offer-related expenses and the relevant taxes thereon.
[Dilip Davda] AEL is a leader in SLCM machinery that are widely used in infra developments. The company enjoys 75+% in the SLCM market share and thus has virtual monopoly like situation. The company posted steady growth in its top and bottom lines for the reported periods amidst elections. As per historical data, it gets around 35+% turnover in first half and 60+% in the 2nd half. Based on its recent financial performance, the issue appears reasonably priced against the peers’ average. Investors may lap it up for medium to long term. Read detail review...
| Listing Date | February 17, 2025 |
| BSE Script Code | 544356 |
| NSE Symbol | AJAXENGG |
| ISIN | INE274Y01021 |
| Final Issue Price | ₹629 per share |
| NSE Listing Group | EQ |
| BSE Listing Group | B |
Ajax Engineering Ltd.
253/1, 11th Main Road
3 rd Phase, Peenya Industrial Area
Bengaluru 560058
Bengaluru, Karnataka
Phone: +91 82 96336111
Email: complianceofficer@ajax-engg.com
Website: https://www.ajax-engg.com/
MUFG Intime India Pvt.Ltd.
Phone: +91-22-4918 6270
Email: ajaxengineering.ipo@linkintime.co.in
Website: https://linkintime.co.in/Initial_Offer/public-issues.html
Ajax Engineering IPO is a main-board IPO of 2,01,80,446 equity shares of the face value of ₹1 aggregating up to ₹1,268.93 Crores. The issue is priced at ₹629 per share. The minimum order quantity is 23.
The IPO opens on February 10, 2025, and closes on February 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 February 10, 2025 and closes on February 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 Friday, February 14, 2025. Check the Ajax Engineering IPO allotment status.
The Ajax Engineering IPO listing date is on Monday, February 17, 2025.
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