Ajax Engineering IPO
1269.35 crore IPO of Ajax Engineering IPO will open on 10 February. This IPO is a issue of 2.29 crore shares. There is no fresh issue in this IPO while total issue is an Offer For Sale(OFS) by company’s promoters.
Important Dates
The IPO of Ajax Engineering Limited will open for subscription on Monday 10 February and close on Wednesday 12 February 2025. Allotment will be finalized on Thursday 13 February 2025. Refund and credit of shares will initiate on Friday 14 February and expected tentative listing date of this IPO is 17 February.
Price band and lot size
Price band of Ajax Engineering is fixed between Rs. 599 to 629 per equity share. One lot has 23 shares so a retail investor can apply for one lot in this IPO with Rs. 14467 at the higher price band. Small NII can apply for this IPO with minimum 14 lot(322 shares) amounting to Rs. 2,02,538 and bNII can apply for this IPO with minimum 70 lots(1610 shares) amounting to Rs. 10,12,690. Employees of this company will get Rs. 59 discount. IPO will list on both exchanges BSE and NSE.
Reservation in Ajax Engineering IPO
Not more than 50 percent of the total is reserved for QIBs, not less than 35 percent of this IPO is reserved for Retail and quota for the NIIs is reserved at 15 percent of this IPO.
About Ajax Engineering Company
Azax Engineering Limited Incorporated in July, 1992. Company manufactures a wide range concrete equipment and services across the value chain. As of 31 March 2024, The company has developed 110 concrete variants for the value chain and sold over 27800 units in India in the last 10 years. As of 30 September 2024 company has four facilities in Karnataka, located at Obadenahalli, Gowribidanur and Bashettihalli, each specializing in different products, especially the Obadenahalli facility.
Product Portfolio
1. Self-loading concrete mixers
2. Batching Plants
3. Transit mixers
4. Boom pumps
5. Self-propelled boom pumps
6. Slipform pavers
7. 3d concrete printers
Objectives of Ajax Engineering IPO
The issue is entirely an offer for sale of 1269.35 crore and nothing will go into the company. All the money raises in this IPO will go to shareholders who are selling their stake in this company.
Promoters of Ajax Engineering
Krishnaswamy Vijay, Jacob Jiten John, Kalyani Vijay, Madhuri Vijay, Prashanth Vijay, Rachel Rekha Hansen, Savitha Christeena Alexander, Sean Alexander, Green Haven Trust, Ohana Trust, Jacob Hansen Family Trust and The John Loaves Trust are the promoters of Azax Engineering.
Lead Mangers and Registrar
ICICI Securities Limited, Citigroup Global Markets India Pvt. Ltd., JM Financials Ltd., Nuvama Wealth Management Limited, SBI Capital Markets Limited are the book running lead managers while Link Intime India Pvt. Ltd. is the registrar of this Ajax Engineering IPO.
Financials of Ajax Engineering
As per RHP the profit after tax of the company in the financial year 2023-24 was stood at 225.15 crore and revenue stood at 1780.07 crore.
In the financial year 2022-23 company’s PAT was 135.9 crore and revenue was 1172.57 crore.
In financial year 2021-22 company’s PAT stood at 66.21 crore and and revenue stood at 771.85 crore.
Azax Engineering assets is showing a steady growth in the company and at the end of financial 2024 company had borrowings of only 6.23 crores.
GMP of Ajax Engineering
As per investorgain the GMP of Ajax Engineering is showing 5.6 percent gain on listing day. According to GMP it is expected that shares of Ajax Engineering may list at 664.
Disclaimer:
Here we are giving the information only about the company’s performance. You should take advice from your financial adviser before investing.
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