Ajax Engineering IPO; Ajax Engineering IPO, a Mainline IPO of ₹1269.35 Cr opens for subscription from 10-02-2025 to 12-02-2025. The IPO consists of ₹1269.35 Cr offer for sale. The face value is Rs 1 and the price band is fixed at 599.00-629.00 per share. You can apply to the Ajax Engineering Mainline IPO for a minimum lot of 23 shares amounting of Rs14467. The tentative listing date on the exchange (BSE, NSE) is 17-02-2025.
Stay tuned with IPO Wheel to get more details about Ajax Engineering Mainline IPO including business overview, financial performance, live subscription status, allotment details, daily grey market premium (GMP), listing date, and listing price.
Ajax Engineering IPO Overview
| Name of Company | Ajax Engineering |
| IPO Type | Mainline IPO |
| Issue Size | ₹1,269.35 Crore |
| Issue Type | Offer for Sale (OFS) |
| Face Value | ₹1 per share |
| Price Band | ₹599 – ₹629 per share |
| Lot Size | 23 Shares |
| Minimum Investment | ₹14,467 (23 shares) |
| IPO Opening Date | February 10, 2025 |
| IPO Closing Date | February 12, 2025 |
| Allotment Date | February 13, 2025 (Tentative) |
| Refund Initiation | February 14, 2025 (Tentative) |
| Demat Credit Date | February 14, 2025 (Tentative) |
| Listing Date | February 17, 2025 (Tentative) |
| Exchanges | BSE, NSE |
| Grey Market Premium (GMP) | To be updated daily |
| Listing Price Expectation | To be updated closer to listing |
Ajax Engineering IPO GMP (Grey Market Premium) Trend
| GMP Date | IPO Price (₹) | GMP (₹) | Sub2 Sauda Rate | Estimated Listing Price (₹) | Last Updated |
|---|---|---|---|---|---|
| 08-02-2025 | 629.00 | 40 (No Change) | 700/9800 | 669 (🔼 6.36%) | 8-Feb-2025 9:29 AM |
| 07-02-2025 | 629.00 | 40 (🔻 Down) | 700/9800 | 669 (🔼 6.36%) | 7-Feb-2025 11:29 PM |
| 06-02-2025 | 629.00 | 57 (🔻 Down) | 1000/14000 | 686 (🔼 9.06%) | 6-Feb-2025 11:28 PM |
| 05-02-2025 | 629.00 | 58 (🔼 Up) | 1000/14000 | 687 (🔼 9.22%) | 5-Feb-2025 11:29 PM |
| 04-02-2025 | – | 0 (No Change) | — | – (0.00%) | 4-Feb-2025 7:07 PM |
Ajax Engineering IPO Lot Size & Investment Details
| Application Type | Lots | Shares | Investment 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 |
- Retail Investors can apply for a minimum of 23 shares and a maximum of 299 shares (13 lots).
- Small High Net-worth Individuals (S-HNI) need to bid for at least 322 shares (14 lots).
- Big High Net-worth Individuals (B-HNI) must bid for a minimum of 1,610 shares (70 lots).
- Investment amounts vary based on category, with retail investors starting at ₹14,467 and B-HNIs investing over ₹10 lakh.
Ajax Engineering Limited Financial Information (Restated) (₹ in Crores)
| Particulars | 30 Sep 2024 | 31 Mar 2024 | 31 Mar 2023 | 31 Mar 2022 |
|---|---|---|---|---|
| Assets | 1,348.76 | 1,236.14 | 966.73 | 735.31 |
| Revenue | 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 & Surplus | 984.40 | 906.52 | 702.36 | 575.41 |
| Total Borrowing | – | 6.23 | 10.14 | 7.16 |
- Revenue Growth: Significant increase in revenue from ₹771.85 Cr in March 2022 to ₹1,780.07 Cr in March 2024.
- Profitability Improvement: Profit after tax (PAT) has steadily risen, showcasing strong financial health.
- Strong Balance Sheet: Net worth and reserves continue to grow, reflecting financial stability.
- Low Debt Levels: Borrowings remain minimal, indicating a healthy financial position.
Ajax Engineering IPO Peer Comparison
| Company | EPS Basic | EPS Diluted | NAV (₹) | P/E (x) | RoNW (%) | Financial Statements |
|---|---|---|---|---|---|---|
| Ajax Engineering Limited | 19.68 | 19.68 | 80.24 | 31.96 | 19.39 | – |
| Action Construction Equipment Ltd. | 27.56 | 27.56 | 103.42 | 46.13 | 26.65 | Consolidated |
| BEML Ltd. | 67.66 | 67.66 | 640.55 | 54.24 | 10.56 | Consolidated |
| Escorts Kubota Limited | 96.80 | 96.64 | 780.83 | 35.73 | 11.44 | Consolidated |
- Competitive P/E Ratio: Ajax Engineering’s P/E ratio of 31.96x is lower than Action Construction (46.13x) and BEML (54.24x), making it relatively attractive in terms of valuation.
- Healthy Return on Net Worth (RoNW): At 19.39%, Ajax Engineering offers a strong return on equity compared to some peers.
- Solid NAV Position: With ₹80.24 NAV, the company maintains a strong asset base.
- Growing Industry Presence: While industry giants like BEML and Escorts Kubota have significantly larger NAV and EPS, Ajax Engineering is emerging as a strong growth player in the construction equipment sector.
About Ajax Engineering Company
Ajax Engineering is a manufacturer of concrete equipment and offers products, services, and solutions across the concrete application process. The company’s product portfolio includes self-loading concrete mixers (SLCMs) and batching plants for concrete production, transit mixers for transportation, boom pumps, concrete pumps, and self-propelled boom pumps for placement. The company also provides slip-form pavers for paving and 3D concrete printers. Ajax Engineering’s equipment is used in different projects, including transportation infrastructure such as roads, railway lines, tunnels, elevated tracks, flyovers, and bridges. These products also support irrigation projects like reservoirs, canals, check dams, and aqueducts, as well as infrastructure developments involving landscaping, drainage, and the construction of airports, power plants, factories, and oil and gas terminals.
- Founded in – 1992
- Managing Director – Mr. Shubhabrata Saha
- Parent Organisation – Ajax Engineering Ltd
Ajax Engineering Company Strengths
- Market leader in large, fast-growing SLCM market, dominant share.
- Comprehensive concrete equipment, services, and solutions across the value chain.
- Strong in-house design, development, and engineering capabilities present.
- Technology-led manufacturing is supported by a robust supplier network.
- Dealer-led distribution model with a widespread network across multiple regions.
- Diverse customer base with strong, long-term relationships in the industry.
- Experienced management team backed by skilled and qualified personnel.
Ajax Engineering Company Risk
- Revenue depends on self-loading concrete mixers; decline may hurt business.
- Seasonal sales fluctuations can negatively impact financial performance stability.
- Material price volatility and availability issues affect financial health.
- Manufacturing limited to Karnataka, exposing business to regional risks.
- Auditor reports include modifications that could impact stock performance.
- Facility disruptions could harm operations, financial results, and stability.
- Rapid growth may not sustain, affecting financial health long-term.
What is the issue size of Ajax Engineering Ltd IPO?
The issue size of the Ajax Engineering Ltd IPO is 12693500000.00.
What is ‘pre-apply’ for Ajax Engineering Ltd IPO?
Pre-apply will allow you to apply for the Ajax Engineering Ltd IPO 2 days before the subscription period starts.
If I pre-apply for Ajax Engineering Ltd IPO, when will my order get placed?
Your order will be placed on the exchange as soon as the Ajax Engineering Ltd IPO bidding starts. You will receive a UPI request within 24 hours after the bidding period opens
What are the open and close dates of the Ajax Engineering Ltd IPO?
Ajax Engineering Ltd IPO will be open between 10 Feb 25 and 12 Feb 25
What is the lot size and minimum order quantity of the Ajax Engineering Ltd IPO?
Ajax Engineering Ltd IPO lot size is 23 and minimum order quantity is 322.
What is the allotment date for the Ajax Engineering Ltd IPO?
Ajax Engineering Ltd IPO allotment date is 13 Feb ’25. For Ajax Engineering Ltd IPO allotment status check, you can visit the website of the registrar of the IPO
Who is the registrar of Ajax Engineering Ltd IPO?
For Ajax Engineering Ltd, the IPO registrar is MUFG Intime India Pvt Ltd. You can check Ajax Engineering Ltd IPO allotment status on the website of the registrar.
Mukesh Thakur is a prolific writer with over a decade of professional experience. A person of wide interests, he found his true calling in the field of investing and specifically the stock market. He has an amazing skill of presenting the most complex financial concepts (and there is no shortage of complexity in investing) in simple language and terms.