Ajax Engineering IPO
ListedMainboardOpens 10 February 2025Closes 12 February 2025
Established in July 1992, Ajax Engineering Limited specializes in designing and manufacturing concrete equipment while providing services across the value chain. The company has developed 110 equipment variants, selling…
Established in July 1992, Ajax Engineering Limited specializes in designing and manufacturing concrete equipment while providing services across the value chain. The company has developed 110 equipment variants, selling over 27,800 units in India over the past decade as of March 31, 2024.
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Key ratios
As per RHP / filingsTimeline
IPO Opens
10 Feb
IPO Closes
12 Feb
Allotment
13 Feb
Listing
17 Feb
IPO Timeline & Listing Details
| Event | Date |
|---|---|
| IPO Open Date | 10 February 2025 |
| IPO Close Date | 12 February 2025 |
| Allotment Date | 13 February 2025 |
| Listing Date | 17 February 2025 |
Investment Categories
| Category | Lots | Amount |
|---|---|---|
Retail (Min) | 1 | ₹14,467 |
Retail (Max)Just less than ₹2,00,000 | 13 | ₹1,88,071 |
SHNI (Min)Just above ₹2,00,000 | 14 | ₹2,02,538 |
SHNI (Max)Below ₹10,00,000 | 69 | ₹9,98,223 |
BHNIAbove ₹10,00,000 | 70 | ₹10,12,690 |
IPO Objectives
- 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.
Strengths
- Leading player in the rapidly expanding self-loading concrete mixer (SLCM) market.
- Diverse product portfolio catering to the entire concrete application process.
- Strong in-house expertise in design, development, and engineering.
- Wide dealership network ensuring broad distribution and service coverage.
- Experienced leadership with skilled professionals and industry knowledge.
Weaknesses
- Heavy reliance on the Indian market for revenue generation.
- Limited international footprint compared to global competitors.
- Susceptible to fluctuations in raw material prices impacting costs.
- Capital-intensive operations with significant manufacturing and R&D expenses.
- Demand fluctuations due to cyclicality in the construction and infrastructure sectors.
Financial Performance
| Period Ended | 30 Sep 2024 | 31 Mar 2024 | 31 Mar 2023 | 31 Mar 2022 |
|---|---|---|---|---|
| Assets (₹ Cr.) | 1,348.76 | 1,236.14 | 966.73 | 735.31 |
| Revenue (₹ Cr.) | 794.16 | 1,780.07 | 1,172.57 | 771.85 |
| PAT (₹ Cr.) | 101.02 | 225.15 | 135.9 | 66.21 |
| Net Worth (₹ Cr.) | 995.84 | 917.96 | 713.8 | 578.27 |
Peer Comparison
| Company | P/B Ratio | P/E Ratio | RONW (%) | Net Worth (₹ Cr.) |
|---|---|---|---|---|
| Ajax Engineering | 7.86 | 31.96 | 19.39% | 995.84 |
| Action Construction | 11.22 | 46.13 | 26.65% | 1,232 |
| Beml Ltd. | 4.97 | 54.24 | 10.56% | 2,668 |
Subscription Details
Daily Bids Status
| Category | Day 1 | Day 2 | Day 3 |
|---|---|---|---|
| QIB | 0.26x | 0.33x | 13.04x |
| NII | 0.28x | 0.61x | 6.43x |
| S-HNI | 0.35x | 0.77x | 3.49x |
| B-HNI | 0.24x | 0.51x | 7.67x |
| RII | 0.29x | 0.52x | 1.85x |
| EMP | 0.54x | 1.19x | 2.59x |
| Total | 0.28x | 0.49x | 6.01x |
Overall Subscription Statistics
| Category | Shares Offered | Shares Bid | Bid Amount (₹ Cr) |
|---|---|---|---|
| QIB | 40,20,300 | 5,24,30,915 | 3,297.9 |
| NII | 30,15,225 | 1,93,92,335 | 1,219.78 |
| Small NII | 10,05,075 | 35,09,432 | 220.74 |
| Big NII | 20,10,150 | 1,54,26,123 | 970.3 |
| RII | 70,35,525 | 1,30,09,168 | 818.28 |
| EMP | 78,947 | 2,04,861 | 12.89 |
| Total | 1,41,49,997 | 8,50,37,279 | 5,348.84 |
Company Details
- Ajax Engineering Limited
- 253/1, 11th Main Road 3 rd Phase, Peenya Industrial Area Bengaluru 560058
- +91 82 96336111
- complianceofficer@ajax-engg.com
- https://www.ajax-engg.com/
Registrar Details
- Link Intime India Private Ltd
- +91-22-4918 6270
- ajaxengineering.ipo@linkintime.co.in
- https://linkintime.co.in/Initial_Offer/public-issues.html
Frequently Asked Questions
See live numbers on GMP, Subscription, and Allotment pages.
Ajax Engineering IPO News & Updates
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Ajax Engineering IPO IPO Pages
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Ajax Engineering IPO Details
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Ajax Engineering IPO GMP
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Ajax Engineering IPO Subscription
QIB, NII, Retail, SHNI and BHNI subscription
Ajax Engineering IPO Allotment
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Ajax Engineering IPO Review
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Ajax Engineering IPO FAQ
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Ajax Engineering IPO Registrar
Registrar website and how to check allotment
Ajax Engineering IPO Timeline
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Ajax Engineering IPO News
Updates, blogs, and latest IPO news
Sources
We match Ajax Engineering IPO IPO numbers with official sources. For final dates and allotment results, double-check the registrar or exchange.
- SEBIRules for IPO allotment and disclosures in India
- NSEExchange notices, bidding data, and listing updates
- BSEExchange notices and IPO allotment check tools
- RHP / Offer DocumentCheck the company RHP on NSE/BSE or the IPO detail page
- Link Intime India Private LtdOfficial site to check allotment status for this IPO
Also read our Editorial Policy, How GMP is calculated, How allotment chances work, and IPO fund allocation.
Reviewed by
Dinesh Agrawal · Lead IPO Analyst
15+ years in Indian markets and IPO research. He reviews IPO dates and key details before they go live.