Ajax Engineering IPO
Ajax Engineering IPO is listed on BSE and NSE, priced at ₹599–₹629 per share. The stock debuted at ₹576. The IPO had a lot size of ₹23 shares and a minimum investment of ₹14,467.
Ajax Engineering Limited IPO
- IPO Dates
- Feb 10, 2025 – Feb 12, 2025
- Price band
- ₹599-629 per equity share
- Minimum Investment
- ₹14,467
- Issue size
- ₹1269.35 Cr
- Lot size
- 23
- Allotment Date
- Feb 13, 2025
- Listing
- Feb 17, 2025
- Listing At
- BSE, NSE
IPO timeline
-
Feb 10, 2025
Open Date
Completed
-
Feb 12, 2025
Close Date
Completed
-
Feb 13, 2025
Allotment Date
Completed
-
Feb 17, 2025
Listing Date
Completed
Price Summary
- Last closing
- 583.00 (-7.31%)
- 52 week high
- 730.10
- 52 week low
- 394.80
- Last update
Ajax Engineering IPO Essentials
Ajax Engineering IPO Details
Ajax Engineering IPO is priced at ₹599-629 per share with a total issue size of 1269.35 crore. The IPO has a lot size of 23 shares and is listed on BSE and NSE.
- Issue price
- ₹599-629 per equity share
- Lot size
- 23 shares
- Face value
- ₹1 Per Equity Share
- Issue size
- OFS : 2,01,80,446 shares(aggregating up to ₹1,269.35 Cr)
- Total issue size
- 2,01,80,446 shares
(aggregating up to ₹1269.35 crore) - Offer for sale (OFS)
- 2,01,80,446 shares
(aggregating up to ₹1269.35 crore) - Listing at
- BSE, NSE
- List price
- 576.0 (NSE)
- Listing date
- Registrar
- Link Intime India Private Ltd
- Lead manager
-
ICICI Securities Limited, Citigroup Global Markets India Private Limited, Jm Financial Limited, Nuvama Wealth Management Limited, SBI Capital Markets Limited
Market Lot Size
Investors can bid for a minimum of 23 shares and in multiples thereof. The following table depicts the minimum and maximum investment by Retail Investors and HNI in terms of shares and amount.
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (min) | 1 | 23 | ₹14,467 |
| Retail(max) | 13 | 299 | ₹1,88,071 |
| sHNI(min) | 14 | 322 | ₹2,02,538 |
| sHNI(max) | 69 | 1,587 | ₹9,98,223 |
| sHNI(min) | 70 | 1,610 | ₹10,12,690 |
Ajax Engineering IPO Reservation
Ajax Engineering IPO reservation details show category-wise allocation of shares. Out of the total 2,01,80,446 shares, approximately 19.92% are reserved for QIB, 14.94% for NII, 34.86% for retail investors, 0.39% for employees, and 29.88% for anchor investors.
| Investor Category | Shares Offered | Maximum Allottees |
|---|---|---|
| Anchor Investor Shares Offered | 60,30,449 (29.88%) | |
| QIB Shares Offered | 40,20,300 (19.92%) | |
| NII (HNI) Shares Offered | 30,15,225 (14.94%) | |
| bHNI > ₹10L | 20,10,150 (9.96%) | 6,242 |
| sHNI < ₹10L | 10,05,075 (4.98%) | 3,121 |
| Retail Shares Offered | 70,35,525 (34.86%) | 3,05,892 |
| Employee Shares Offered | 78,947 (0.39%) | |
| Total Shares Offered | 2,01,80,446 (100%) |
Ajax Engineering IPO Analytics
Ajax Engineering IPO category-wise subscription trends show day-wise participation across QIB, NII, and retail investors.
Ajax Engineering IPO Subscription Status
Ajax Engineering IPO subscription status shows demand across retail, NII, and QIB categories, helping investors understand overall participation trends.
The IPO subscription status indicates investor demand across categories.
| As on | QIB |
NII
bHNI
sHNI
|
Retail | Total |
|---|---|---|---|---|
| Shares Offered / Reserved | 40,20,300 |
30,15,225
20,10,150
10,05,075
|
70,35,525 | 1,41,49,997 |
|
Day 1
10-02-25 05:00 PM
|
0.26 x |
0.28x
0.24x
0.36x
|
0.29 x | 0.28 x |
|
Day 2
11-02-25 05:00 PM
|
0.33 x |
0.61x
0.52x
0.78x
|
0.51 x | 0.48 x |
|
Day 3
12-02-25 05:00 PM
|
14.41 x |
6.46x
7.88x
3.63x
|
1.92 x | 6.44 x |
|
Total No. of Applications
|
bHNI | sHNI | Retail |
|---|---|---|---|
| 3,10,879 (Approx) | 1.2x | 3.49x | 0.82x |
Ajax Engineering Valuations
Earnings
- EPS Pre IPO
- ₹19.68/-
- EPS Post IPO
- ₹17.66/-
- P/E Pre IPO
- 31.96
- P/E Post IPO
- 35.62
Returns
- ROE
- 24.53%
- ROCE
- 32.82%
- RoNW
- 19.39%
- PAT Margin
- 12.65
Fundamentals
- Debt / Equity
- 0.01
- Price / Book
- 7.84
Ajax Engineering Financials( In Crs.)
| 31-Mar-24 | 31-Mar-23 | 31-Mar-22 | |
|---|---|---|---|
| Assets | 1,236.14 | 966.73 | 735.31 |
| Revenue | 1,780.07 | 1,172.57 | 771.85 |
| Profit After Tax | 225.15 | 135.9 | 66.21 |
| Net Worth | 917.96 | 713.8 | 578.27 |
| Reserves & Surplus | 906.52 | 702.36 | 575.41 |
| Total Borrowing | 6.23 | 10.14 | 7.16 |
Ajax Engineering Company & Offer Insights
About Ajax Engineering
Established in July 1992, Ajax Engineering Limited designs and manufactures concrete equipment and provides services in the value chain. The company has developed 110 variants of concrete equipment for the value chain, and over 27,800 units have been sold in India in the last ten years as of March 31, 2024.
As of March 31, 2024, the total workforce in design, engineering, and development team is 76 full-time employees, about 17.16% of the total workforce.
As of March 31, 2024, Ajax Engineering Limited has four facilities in the state of Karnataka located at Obadenahalli, Gowribidanur, and Bashettihalli, which produce different ranges of products, especially Obadenahalli.As of March 31, 2024, The company has 51 dealerships across 23 states in India, providing 114 touchpoints, including 51 headquarters and 63 branches, 34 of which also serve as service centers.
The company has established 25 dealers and distributors across South and Southeast Asia, the Middle East, and Africa as of March 31, 2024.The company has sold concrete equipment and spare parts to over 15,700 customers as of March 31, 2024.
As of March 31, 2024, the service team comprised 83 employees, including coordinators, managers, specialists, and customer service executives supporting our dealer network.
Ajax Engineering Promoter(s)
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 Johns Loaves Trust. are the company's promoters of Ajax Engineering.
Ajax Engineering IPO Issue Objectives
- •
- The Company will not receive any proceeds of the Offer. Each of the Selling Shareholders will be entitled to the respective proportion of proceeds of the Offer for Sale after deducting its portion of the Offer-related expenses and the relevant taxes thereon.
Ajax Engineering IPO - Anchor Investors
Ajax Engineering raises Rs 379 crore through anchor book.
Institutional major investors were SBI Mutual Fund, Amundi India, Axis Mutual Fund, IIFL Asset Management, Ashoka Whiteoak ICAV, Franklin Templeton Investment Funds, and Fundpartner Solutions (SUISSE) SA, which all put money into the company.
Apart from them, the list included PI Opportunities AIF, HSBC Infrastructure Fund, Carmignac Portfolio, Destinations International Equity Fund, Tocu Europe, Edelweiss Trusteeship, Bcad Fund, and ITI Mutual Fund for anchor book investment.
Ajax Engineering IPO - Peers Comparison
| Company Name | EPS (Basic) | EPS (Diluted) | NAV (per share) (Rs) | P/E (x) | RoNW (%) | P/BV Ratio | Financial statements |
|---|---|---|---|---|---|---|---|
| Ajax Engineering Limited | 19.68 | 19.68 | 80.24 | 31.96 | 19.39 | 7.86 | Consolidated |
| Action Construction Equipment Ltd. | 27.56 | 27.56 | 103.42 | 46.13 | 26.65 | 11.22 | Consolidated |
| Beml Ltd. | 67.66 | 67.66 | 640.55 | 54.24 | 10.56 | 4.97 | Consolidated |
| Escorts Kubota Limited | 96.8 | 96.64 | 780.83 | 35.73 | 11.44 | 3.56 | Consolidated |
Notes:
- Basic/diluted earnings per share refers to the basic/diluted earnings per share sourced from the financial statements of the respective peer group companies for the financial year ended March 31, 2024.
- Net Asset Value per share represents net worth at the end of the year divided by the weighted average number of shares outstanding during the year.
- The P/E Ratio has been computed based on the closing market price of equity shares on BSE on February 1, 2025, divided by the Diluted EPS.
- The P/B Ratio has been computed based on the closing market price of equity shares on BSE on February 1, 2025, divided by NAV on March 31, 2024.
- Return on Net Worth (%) = RoNW is computed as net profit after tax divided by total net worth at the end of each year.
Contact Information
Contact Details
Ajax Engineering
+91 82 96336111
complianceofficer@ajax-engg.com
253/1, 11th Main Road, 3 rd Phase, Peenya Industrial Area, Bengaluru 560058
Registrar Contact Details
Frequently Asked Questions
Click any question to reveal the answer
Ajax Engineering IPO is a book-built IPO worth ₹1269.35 crore. The price band is ₹599–₹629 per share. The IPO opens on Feb 10, 2025 and closes on Feb 12, 2025. It will be listed on BSE and NSE. Link Intime India Private Ltd is the registrar.
The price band of Ajax Engineering IPO is ₹599 to ₹629 per share.
The lot size of Ajax Engineering IPO is 23 shares.
The minimum investment for Ajax Engineering IPO is approximately ₹14,467 based on the upper price band .
Ajax Engineering IPO opens on Feb 10, 2025 and closes on Feb 12, 2025.
The allotment date of Ajax Engineering IPO is Feb 13, 2025.
Ajax Engineering IPO is expected to be listed on Feb 17, 2025, on BSE and NSE .
Ajax Engineering IPO listed on Feb 17, 2025. It was issued at ₹576.0 (NSE) and is currently around ₹583.00 as on 27-May-2026 3:30 PM, which is approximately -7.3% versus issue price. The 52-week high is ₹730.10.
Based on listing and post-listing performance, Ajax Engineering IPO delivered around -7.3% over issue price. Whether it was worth applying depends on your risk profile, allocation, and holding horizon.
To buy Ajax Engineering IPO shares after listing, log in to your broker app (such as Zerodha, Angel One, Groww, Upstox, ICICI Direct), search the stock symbol, place a delivery/CNC order, and confirm quantity and price.
Ajax Engineering IPO valuation snapshot: P/E 35.62, EPS ₹17.66/-, P/B 7.84, RoNW 19.39%, and market cap N/A.
To apply for Ajax Engineering IPO, open the IPO Ji app or website, select the IPO, choose your demat account, enter the quantity, and submit the application.
You can check the live subscription status of Ajax Engineering IPO on IPO Ji or stock exchange websites. It shows real-time demand across retail, NII, and QIB categories.
Pre-apply allows investors to submit their IPO application before the bidding period starts. The order is placed automatically when the IPO opens.
If you pre-apply for Ajax Engineering IPO, your order will be placed when the IPO bidding starts, and a UPI mandate request will be generated.
You can check Ajax Engineering IPO allotment status on the registrar or stock exchange websites using your PAN or application number after allotment. You can also check the Ajax Engineering IPO allotment status on IPO Ji for quick and easy access.