Ajax Engineering, a leading manufacturer of concrete equipment, made its debut on the stock exchanges on February 17, 2025. The company had set an issue price of ₹629 per share for its Initial Public Offering (IPO).
Ajax Engineering Listing Performance
On the listing day, Ajax Engineering’s shares opened at ₹576 on the National Stock Exchange (NSE), marking an 8.43% discount from the issue price.
On the Bombay Stock Exchange (BSE), the shares listed at ₹593, reflecting a 5.72% discount.
Closing Price:
By the end of the trading session, the stock closed at ₹593.40 on the NSE, indicating a 5.65% decline from the issue price.
Investor Sentiment:
Despite a strong subscription during the IPO, with the issue being oversubscribed by 6.45 times, the listing performance was below expectations. The discounted opening prices suggest a tepid reception from the market.
Company Overview:
Ajax Engineering is renowned for its diverse range of concrete equipment, including self-loading concrete mixers, batching plants, transit mixers, and more. The company holds a dominant position in India’s Self-Loading Concrete Mixer market, commanding a 77% market share as of FY 2024.
The subdued listing performance of Ajax Engineering’s shares highlights the volatility and unpredictability of the stock market. Investors should exercise caution and conduct thorough research before making investment decisions.
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