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.
The company’s 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.
Ajax Engineering IPO – Details
| IPO Opening Date | 10 February 2025 |
| IPO Closing Date | 12 February 2025 |
| Issue Type | Book Built Issue IPO |
| Issue Size | Total Issue Size: 2,01,80,446 Shares Worth ₹1,269.35 Crore Offer for Sale: 2,01,80,446 Shares Worth ₹1,269.35 Crore |
| Face Value | ₹1 per equity share |
| IPO Price | ₹599 – ₹629 per share |
| Market Lot | 23 Shares |
| Min Order | 23 Shares (1 Lot) |
| Listing At | BSE, NSE |
| Register | Link Intime India Private Ltd |
| QIB Shares Offered | 50% |
| NII (HNI) Shares Offered | 15% |
| Retail Shares Offered | 35% |
Ajax Engineering IPO – Date Schedule
| IPO Open Date | 10 February 2025 |
| IPO Close Date | 12 February 2025 |
| Basis of Allotment | 13 February 2025 |
| Initiation of Refund | 14 February 2025 |
| Credit of Shares to Demat Account | 14 February 2025 |
| IPO Listing Date | 17 February 2025 |
| Cut-off time for UPI mandate confirmation | 5 PM on February 12, 2025 |
Ajax Engineering IPO – Lots Size & Price
| 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 |
Competitive 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.
Company Promoters
- 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
Company Financials
| Particulars | Total Revenue | Total Expense | Profit After Tax | Total Borrowing |
|---|---|---|---|---|
| 31 March 2022 | 771.85 | 681.42 | 66.20 | 7.16 |
| 31 March 2023 | 1172.56 | 989.62 | 135.90 | 10.14 |
| 31 March 2024 | 1780.07 | 1478.15 | 225.14 | 6.23 |
| 30 September 2024 | 794.15 | 657.02 | 101.02 | – |
Key Performance Indicator
| 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 |
Object Of The Issue
- 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.
Ajax Engineering IPO Peer Comparison
| S. No. | Face Value | Company Name | PE |
| 1 | 2 | Action Construction Equipment Limited | 46.13 |
| 2 | 10 | BEML Limited | 54.24 |
| 3 | 10 | Escorts Kubota Limited | 35.73 |
Ajax Engineering IPO Promoter Holding
| Pre Issue Share Holding | 93.50% |
| Post Issue Share Holding | – |
Ajax Engineering IPO Prospectus
Company Contact Information
| Ajax Engineering Limited 253/1, 11th Main Road 3 rd Phase, Peenya Industrial Area Bengaluru 560058 Phone: +91 82 96336111 Email: complianceofficer@ajax-engg.com Website: https://www.ajax-engg.com/ |
Ajax Engineering IPO Registrar
| Link Intime India Private 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 Lead Manager(s)
| 1. JM Financial Limited 2. ICICI Securities Limited 3. SBI Capital Markets Limited 4. Nuvama Wealth Management Limited 5. Citigroup Global Markets India Private Limited |
Ajax Engineering IPO FAQs
| What is Ajax Engineering IPO? Ajax Engineering IPO is a main-board IPO. The issue is priced at ₹599 to ₹629 per equity share. The IPO is to be listed on BSE & NSE. |
| When Ajax Engineering IPO will open? The IPO is to open on 10 February 2025 for QIB, NII, and Retail Investors. |
| What is Ajax Engineering IPO Investors Portion? The investors’ portion for QIB – 50%, NII – 15%, and Retail – 35%. |
| How to Apply the Ajax Engineering IPO? You can apply Ajax Engineering IPO via ASBA online via your bank account. You can also apply for ASBA online via UPI through your stock brokers. You can also apply via your stock brokers by filling up the offline form. |
| How to Apply the Ajax Engineering IPO through Angle One? Log in to Angle One Application with your credentials. Select the IPO. You will see the IPO Name “Ajax Engineering IPO”. Click on Bid Button. Confirm your Application. Now go to your UPI App on Net Banking or BHIM App to Approve the mandate. Open Demat Account with Angle One. |
| How to Apply the Ajax Engineering IPO through 5 Paisa? Log in to 5 Paisa Application with your credentials. Select the IPO. You will see the IPO Name “Ajax Engineering IPO“. Click on Bid Button. Confirm your Application. Now go to your UPI App on Net Banking or BHIM App to Approve the mandate. Open Demat Account with 5 Paisa. |
| How to Apply the Ajax Engineering IPO through Upstox? Log in to Upstox Application with your credentials. Select the IPO. You will see the IPO Name “Ajax Engineering IPO”. Click on Bid Button. Confirm your Application. Now go to your UPI App on Net Banking or BHIM App to Approve the mandate. Open Demat Account with Upstox. |
| How to Apply the Ajax Engineering IPO through IIFL? Log in to IIFL Application with your credentials. Select the IPO. You will see the IPO Name “Ajax Engineering IPO“. Click on Bid Button. Confirm your Application. Now go to your UPI App on Net Banking or BHIM App to Approve the mandate. Open Demat Account with IIFL. |
| What is Ajax Engineering IPO Size? Ajax Engineering IPO size is ₹1,269.35 Crore. |
| What is the Ajax Engineering IPO Price Band? Ajax Engineering IPO Price Band is ₹599 to ₹629. |
| What is Ajax Engineering IPO Minimum and Maximum Lot Size for Retail? The minimum bid is 23 Shares with ₹14,467 amount while the maximum bid is 299 Shares with ₹1,88,071. |
| What is the Ajax Engineering IPO Allotment Date? Ajax Engineering IPO allotment date is 13 February 2025. |
| What is the Ajax Engineering IPO Listing Date? Ajax Engineering IPO listing date is 17 February 2025. The IPO is to be listed on BSE and NSE. |
