Ajax Engineering IPO is set to open for subscription from February 10, 2025, to February 12, 2025. The IPO aims to raise ₹1,269.35 crores through an offer for sale (OFS) of equity shares. Investors are eager to know the details, subscription process, Grey Market Premium (GMP), and financial performance of the company. Here’s a detailed analysis of the Ajax Engineering IPO.
Ajax Engineering IPO Details
The Ajax Engineering IPO is a book-built issue with a price band of ₹599 to ₹629 per share. The issue size is ₹1,269.35 crores, with all shares offered through an OFS. The IPO will be listed on BSE and NSE.
Key Details:
| Particulars | Details |
|---|---|
| Issue Size | ₹1,269.35 crores |
| Offer for Sale (OFS) | 2,01,80,446 shares |
| Price Band | ₹599 – ₹629 per share |
| Lot Size | 23 shares |
| Minimum Investment | ₹14,467 |
| Listing | BSE & NSE |
| Retail Quota | Not less than 35% |
| QIB Quota | Not more than 50% |
| NII Quota | Not more than 15% |
The tentative listing date for Ajax Engineering IPO is February 17, 2025.
Ajax Engineering IPO Subscription
The IPO subscription will be open for three days, from February 10 to February 12, 2025. Investors can apply through their Demat account using UPI-based payment methods.
Important Dates
| Event | Date |
|---|---|
| IPO Open Date | February 10, 2025 |
| IPO Close Date | February 12, 2025 |
| Basis of Allotment | February 13, 2025 |
| Refunds | February 14, 2025 |
| Credit to Demat | February 14, 2025 |
| Listing Date | February 17, 2025 |
Investors must apply within this period to secure their chance of getting allotted shares in the Ajax Engineering IPO.
Ajax Engineering IPO GMP Today
Grey Market Premium (GMP) gives an idea of how the stock may perform upon listing. As of February 7, 2025, the GMP for Ajax Engineering IPO is ₹57 per share.
This suggests a possible listing price of around ₹686 (₹629 + ₹57), indicating positive market sentiment. However, GMP is subject to change based on demand and market conditions.
Ajax Engineering Business Overview
Ajax Engineering, established in 1992, is a leading manufacturer of concreting equipment. The company is known for its self-loading concrete mixers, batching plants, and transit mixers.
The company has four manufacturing units in Karnataka and is expanding further. It has a strong presence in India and exports to countries like Sri Lanka, Nepal, Bangladesh, and Kenya.
Ajax Engineering has over 30 dealers and 100+ service points across India. The company follows the ‘Make in India, Sell Global’ strategy to expand its market reach.
Ajax Engineering IPO Financials
The financials of Ajax Engineering show strong growth in revenue and profits. The company’s revenue and net profit have grown consistently in recent years.
Key Financial Data
| Financial Year | Revenue (₹ Cr) | Net Profit (₹ Cr) | Growth (%) |
|---|---|---|---|
| FY22 | 763.29 | 80.45 | – |
| FY23 | 1,151.13 | 136.00 | 51.1% |
| FY24 | 1,741.40 | 225.10 | 65.7% |
Ajax Engineering has maintained a healthy EBITDA margin, which improved to 15.65% in FY24 from 14.83% in FY23.
Key Ratios (as of February 7, 2025)
| Ratio | Value |
|---|---|
| PE Ratio | 31.96 |
| PB Ratio | 7.84 |
| EPS | ₹19.68 |
| ROE | 24.53% |
| ROCE | 32.82% |
The company’s profitability and return ratios indicate strong financial stability.
Ajax Engineering IPO Review
Ajax Engineering IPO is attracting investor attention due to its strong market position, financial growth, and future expansion plans.
Positives:
- Leading concreting equipment manufacturer in India.
- Strong financial performance with high revenue growth.
- Expanding global presence.
- Favorable industry trends with increasing infrastructure investments.
Risks:
- Competitive market with other established players.
- Dependence on the construction and infrastructure sector.
- Raw material price fluctuations affecting margins.
Investors looking for a long-term bet in the construction and infrastructure sector may find Ajax Engineering IPO attractive.
Ajax Engineering IPO Allotment
The allotment status will be finalized on February 13, 2025. Investors can check their allotment status through:
- Link Intime India Private Ltd (Registrar’s Website)
- Visit the IPO page and select Ajax Engineering IPO.
- Enter PAN, Demat account number, or application number.
- Click submit to check the status.
- BSE & NSE Websites
- Visit the respective stock exchange websites.
- Enter application details and check allotment status.
FAQs
1. When will the Ajax Engineering IPO open and close?
- The IPO opens on February 10, 2025, and closes on February 12, 2025.
2. What is the lot size for Ajax Engineering IPO?
- The minimum lot size is 23 shares, requiring an investment of ₹14,467.
3. What is the Grey Market Premium (GMP) for Ajax Engineering IPO?
- As of February 7, 2025, the GMP is ₹57 per share.
4. When is the listing date for Ajax Engineering IPO?
- The IPO is expected to list on February 17, 2025.
5. What is the total issue size of the IPO?
- The IPO aims to raise ₹1,269.35 crores through an offer for sale.
6. What are the financial highlights of Ajax Engineering?
- In FY24, the company reported a revenue of ₹1,741.40 crore and a net profit of ₹225.10 crore.
7. How can I apply for the IPO?
- Investors can apply through their trading account by selecting Ajax Engineering IPO and placing bids within the price range.
8. Who are the lead managers of the IPO?
- ICICI Securities, Citigroup Global Markets, JM Financial, SBI Capital Markets, and Nuvama Wealth Management are the lead managers.
9. Who is the registrar for the IPO?
- Link Intime India Private Ltd is the registrar handling allotment and refunds.
10. What are the risk factors in this IPO?
- Market competition, dependency on infrastructure growth, and raw material price volatility are key risks.
Conclusion
Ajax Engineering IPO presents a strong investment opportunity in the infrastructure and construction sector. With robust financials, a strong market presence, and growing demand, the company is poised for future growth.
Investors should carefully analyze the risks and financials before investing. Keep an eye on GMP trends and market conditions to make an informed decision.
