Ajax Engineering Limited

Ajax Engineering Limited

Mainboard NSE & BSE 100% Book Built Offer
Closed

Price Band

₹599 - ₹629

Total Issue

₹1,268.88 Cr

Bid Dates

10 Feb - 12 Feb

Subscription

6.45x

Est. GMP

₹47 (7.47%)

Website RHP Check Allotment

Tentative Timetable

Open
Close
Allotment
Refunds
Credit
Listing

Business Overview

Ajax Engineering has a diverse product portfolio in the concrete equipment segment, including self-loading concrete mixers, batching plants, transit mixers, boom pumps, concrete pumps, self-propelled boom pumps, slip-form pavers, and 3D concrete printers. It also provides spare parts and facilitates after-sales service through its dealer network. As of September 30, 2024, the company’s distribution network includes 51 dealerships across 23 Indian states, offering 114 touchpoints, comprising 51 dealer headquarters and 63 branches, 34 of which also serve as service centers. In FY 2024, 81.71% of its revenue was generated from the sale of SLCMs.

Lot Info

Lot Information for Ajax Engineering IPO
Category 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

Category Reservation

QIB 50%
NII 15%
Ret 35%
Employee
₹0.00
Shareholder
₹0.00

Issue Size

Total ₹1,268.88 Cr
Fresh Issue
₹0.00 (0.00 Shares)
Offer For Sale
₹1,268.88 Cr (2.02 Cr Shares)

Objects of Issue

Since the IPO is an Offer for Sale (OFS), the company will not receive any fresh proceeds from the issue

Grey Market Premium

GMP ₹47
Est. Price ₹676
Est. Gain 7.47%

Ajax Engineering IPO Peer Comparison

(Rs. in crores)

Ajax Engineering IPO Peer Comparison Table
Particulars co. Escorts Kubota Limited BEML Limited Action Construction Equipment Limited
Revenue from operations (in Crs) 1,741.40 10,754.00 4,054.33 2,913.80
Profit after Tax (in Crs) 225.15 1,076.62 281.77 328.20
EPS (Basic) 19.68 27.56 67.66 96.80
Price to Book (PB) 7.84 12.29 5.73 4.42
NAV per share 80.24 103.42 67.66 96.64
Price to Earning 31.96 46.13 54.24 35.73
EBITDA Margin (%) 15.82 12.25 10.91 13.84
PAT Margin (%) 12.65 9.66 6.88 10.97
ROA (%) 18.21 8.68 5.17 15.13
  • All the information pertains to FY 2023-24.
  • The PE ratio is calculated using the Upper Price Band for the Issuer and the closing price as of February 1, 2025 for Peers

Financial Performance

(Rs. in crores)

Financial Performance Metrics for Ajax Engineering IPO
Particulars Sep-24 Mar-24 Mar-23 Mar-22
Revenue from Operations 769.99 1,741.40 1,151.13 763.29
Profit after Tax 101.02 225.15 135.90 66.21
Net Worth A3 995.84 917.96 713.80
Total Borrowing A4 995.84 917.96 713.80
Total Assets 1,348.76 1,236.14 966.73 735.31
NAV per share (in ₹) 87.04 80.24 62.39 50.55
EPS - Basic (in ₹) 8.83 19.68 11.88 5.79

KPIs

ROCE (%)

32.82

ROA (%)

18.21

GP Margin (%)

26.71

EBITDA (%)

15.82

PAT (%)

12.65

Price to earning (PE)

31.96

Mkt Cap (in Crs.)

7,196.19

Price to Book (PB)

7.84

  • All the data pertains to FY 2023-24.
  • PE, PB, and market capitalization are calculated based on the Upper Price Band.

Shareholding

Promoter

15.10%

Public

84.90%

The Johns Loaves Trust 19.31%
Ohana Trust 18.00%
Green Haven Trust 18.00%
Jacob Hansen Family Trust 17.47%

Management

Krishnaswamy Vijay Chairman
Shubhabrata Saha MD & CEO
Tuhin Basu Chief Financial Officer

Registrar & Lead Managers

Registrar

MUFG Intime India

MUFG Intime India

Subscription Status

Updated as on 12-Feb-2025 19:00:00

Mainboard Subscription Status for Ajax Engineering IPO
Category Sub (x) Offered Bids
QIB 14.41 40,20,301 5,79,46,016
NII 6.47 30,15,225 1,94,95,237
bHNI 7.88 20,10,150 1,58,30,509
sHNI 3.65 10,05,075 36,64,728
Retail 1.93 70,35,525 1,35,63,767
Employee 2.62 78,947 2,06,931
Total 6.45 1,41,49,998 9,12,11,951

Subscription data excludes the Anchor Investor portion.

Frequently Asked Questions

What is Ajax Engineering IPO?
Ajax Engineering IPO is a Mainboard IPO having an issue size of ₹1,268.88 Crs. Ajax Engineering IPO is priced at ₹599 - ₹629 per share. The issue opens on 10 Feb 25 and closes on 12 Feb 25.
When will Ajax Engineering IPO open?
Ajax Engineering IPO opens on 10 Feb 25 and closes on 12 Feb 25.
What is the GMP of Ajax Engineering IPO?
The estimated Grey Market Premium of Ajax Engineering IPO is ₹47 per share (7.47%).
What is the lot size of Ajax Engineering IPO?
The minimum lot size of Ajax Engineering IPO is 23 shares & the minimum application amount is Rs. 14467.
When is the allotment of Ajax Engineering IPO?
The allotment date of Ajax Engineering IPO is 13 Feb 25.
What is the listing date of Ajax Engineering IPO?
The listing date of Ajax Engineering IPO is 17 Feb 25.
What is the subscription of Ajax Engineering IPO?
Ajax Engineering IPO is subscribed 6.45 times.
What is the price band of Ajax Engineering IPO?
Ajax Engineering IPO is priced at ₹599 - ₹629 per share.
How to check allotment status of Ajax Engineering IPO?
Click the allotment link on Ajax Engineering IPO page of IPO360.
How to apply Ajax Engineering IPO in Zerodha?
  1. Go to Kite App → Tap on Bids → Tap on IPO
  2. Select the IPO → Tap on apply → Enter UPI ID
  3. Enter Qty and Price
  4. Submit the application
  5. Approve the UPI Mandate on your UPI app
How to apply Ajax Engineering IPO in Groww?
  1. Go to Groww App → Stocks Section → Select IPO option
  2. Select the IPO you want to apply
  3. Enter your bid details and price
  4. Enter UPI ID & submit
  5. Approve the UPI Mandate on your UPI app
How to apply Ajax Engineering IPO using ASBA?
  1. Log in to your bank's net banking portal.
  2. Navigate to the 'IPO' or 'ASBA' section.
  3. Select Ajax Engineering IPO from the list of available IPOs.
  4. Enter the required details: Bid quantity, Price, DP ID & Client ID, etc
  5. Submit the application.
  6. Money will remain blocked till the refund date