The company has been around for over 32 years and makes a range of concrete equipment like self-loading mixers, batching plants, transit mixers, and concrete pumps. In FY 2024, the company made 17,414.03 million in revenue and 2,251.49 million in profit, showing good growth over the last three years. The company is offering up to 22,881,718 equity shares through an Offer for Sale, with the IPO opening on February 10, 2025, and closing on February 12, 2025. The Selling Shareholders will get the proceeds, while the listing should help increase the company’s visibility and brand image. The company won’t receive any of the proceeds from the offer. With strong financials and a growing market for concrete equipment, the company is set for more growth. Ajax Engineering IPO Review in detail to help you in your investment decisions.
Ajax Engineering IPO Objectives
The primary objective of the Ajax Engineering IPO is to enable the Offer for Sale (OFS) of up to 22,881,718 equity shares by the Selling Shareholders. It is important to note that this IPO will not involve any new fund-raising by the company. Instead, the proceeds from the sale will be entirely received by the Selling Shareholders, after deducting their respective share of offer expenses and taxes.
The key goal behind the IPO is to list the company’s equity shares on the stock exchanges. This listing is expected to enhance the company’s visibility and brand image while providing a public market for its shares. However, the company will not directly benefit from any funds raised through the IPO, as it is purely an offer for sale by the existing shareholders.
Ajax Engineering IPO Details
| Particulars | Details |
|---|---|
| IPO Open Date | February 10, 2025 |
| IPO Close Date | February 12, 2025 |
| Face Value | ₹1 Per Equity Share |
| IPO Price Band | Not Disclosed |
| Issue Size | Not Disclosed |
| Offer for Sale | Approx 2,28,81,718 Equity Shares |
| Issue Type | Book Built Issue |
| IPO Listing | BSE & NSE |
| Retail Quota | Not more than 35% |
| QIB Quota | Not more than 50% |
| NII Quota | Not more than 15% |
Ajax Engineering GMP
At present no GMP recorded for Ajax engineering IPO.
Ajax Engineering Overview
Ajax Engineering has been around for over 32 years and is a well-known manufacturer of concrete equipment in India. The company makes a wide range of products like self-loading concrete mixers, batching plants, transit mixers, boom pumps, concrete pumps, slip-form pavers, and 3D concrete printers.
They also offer after-sales service by providing spare parts and support for the equipment they sell. The company has seen steady growth, with revenue reaching ₹17,414.03 million in FY 2024, up from ₹7,632.89 million in FY 2022.
Ajax is part of a fast-growing industry, with more infrastructure development boosting demand for construction equipment. With their solid range of products and reputation, the company is well-placed to take advantage of the expanding market for concrete equipment in India.
Official Website – https://www.ajax-engg.com/
Ajax Engineering Financials
| Particulars | FY 2024 | FY 2023 | FY 2022 |
|---|---|---|---|
| Revenue from Operations | ₹1,741.40 | ₹1,151.13 | ₹763.29 |
| Restated Profit for the Year | ₹225.15 | ₹135.90 | ₹66.21 |
| Total Borrowings | ₹6.23 | ₹10.14 | ₹7.16 |
Company Promoters:
Ajax Engineering’s promoters include Krishnaswamy Vijay, Kalyani Vijay, Jacob Jiten John, and Rachel Rekha Hansen. They play a key role in the company’s growth and have significant ownership, with several trusts associated with them holding stakes in the business.
Ajax Engineering IPO Good Or Bad
Should you invest?
- If you are looking for a long-term investment in a stable sector, Ajax Engineering’s strong financial performance, consistent growth in revenues and profits, and exposure to India’s booming infrastructure market make it an attractive candidate.
- However, if you are more concerned about short-term gains, you might want to wait for the official GMP and any further market trends closer to the IPO’s opening, as there are risks like dependency on the infrastructure sector and competition that might affect short-term performance.
Given these factors, it’s a potentially good investment for those with a long-term perspective but may not be as ideal for those looking for quick profits or short-term gains.
Disclaimer: The information provided is for informational purposes only and does not constitute investment advice. Please do your own research and consult a financial advisor before making any investment decisions. All investments carry risks.
Pravin Bhosale
Since stepping into the world of trading in 2019, i have gained valuable experience navigating the markets, have knowldge in indices like Bank Nifty, Nifty IT, Sensex, Bankex, and Finifty. Also have sound knowldge about IPO industry & ipo process. our blog aims to make finance approachable, offering practical insights for readers to better understand and act on market trends.
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