Ajax Engineering Limited
CLOSEDIPO Date: 10 Feb - 12 Feb 2025
Listing Date: 17 Feb 2025
Price Range
₹599 to ₹629
Issue Size
1269.35 Cr
Min Investment
₹13,777
Lot Size
23 Shares
Schedule of Ajax Engineering Limited
Issue open date
10 Feb 2025
Issue close date
12 Feb 2025
UPI mandate deadline
12 Feb 2025 (5 PM)
Allotment finalization
13 Feb 2025
Share credit
14 Feb 2025
Listing date
17 Feb 2025
Mandate end date
27 Feb 2025
Issue size
| Funds Raised in the IPO | Amount |
|---|---|
| Overall | 1269.35 Cr |
| Fresh Issue | 1269.35 Cr |
| Offer for Sale | 0 Cr |
Allotment DetailsNew
| Allotment Timeline | Details |
|---|---|
| Allotment Date | 13 Feb 2025 |
| Allotment Link | {Link} |
Grey Market PremiumNew
Grey Market Premium (GMP) is the premium at which the shares are traded in the grey market. It gives a fair idea about the listing price of the IPO shares. The GMP can be positive or negative based on the demand and supply of the shares in the grey market.
| Date | Ipo Price | GMP | Estimated Listing Price |
|---|---|---|---|
| 13 Feb 2025 | ₹629 | ₹7 | ₹636 (1.11%) |
| 12 Feb 2025 | ₹629 | ₹10 | ₹639 (1.59%) |
| 11 Feb 2025 | ₹629 | ₹7 | ₹636 (1.11%) |
| 10 Feb 2025 | ₹629 | ₹31 | ₹660 (4.93%) |
| 9 Feb 2025 | ₹629 | ₹52 | ₹681 (8.27%) |
| 8 Feb 2025 | ₹629 | ₹55 | ₹684 (8.74%) |
| 7 Feb 2025 | ₹629 | ₹40 | ₹669 (6.36%) |
| 6 Feb 2025 | ₹629 | ₹57 | ₹686 (9.06%) |
| 5 Feb 2025 | ₹629 | ₹58 | ₹687 (9.22%) |
Performance Ajax Engineering Limited
| Issue Price | Listing Gain | Current Market Price | P/L |
|---|---|---|---|
| ₹599 to ₹629 | .... | .... | .... |
About Ajax Engineering Limited
Ajax Engineering Limited is a leading manufacturer of concrete equipment, offering a comprehensive range of products and services across the value chain. The company has developed 141 concrete equipment variants and sold over 29,800 units in India in the past ten years. As of September 30, 2024, the company’s design, engineering, and development team comprises 79 full-time employees, representing 15.96% of its total workforce. Ajax Engineering operates four specialized manufacturing facilities in Karnataka, located at Obadenahalli, Gowribidanur, and Bashettihalli. The company has a well-established distribution network with 51 dealerships across 23 states in India, offering 114 touchpoints, including service centers. Additionally, Ajax Engineering has expanded its presence internationally with 25 dealers and distributors in South and Southeast Asia, the Middle East, and Africa. The company’s diverse product portfolio includes self-loading concrete mixers, batching plants, transit mixers, boom pumps, concrete pumps, self-propelled boom pumps, slipform pavers, and 3D concrete printers.
| Founded in | 1992 |
| Managing director | |
| Parent organization |
Financial Overview
Strengths
- Extensive product portfolio with 141 concrete equipment variants.
- Strong presence in India with 51 dealerships and 114 touchpoints, ensuring wide reach and efficient service.
- Experienced design, engineering, and development team driving innovation and product excellence.
Risks
- Limited workforce in the design and engineering department compared to competitors.
- Geographic concentration of manufacturing facilities in Karnataka may expose operations to regional risks.
- Intense competition from global players in the concrete equipment industry.
Subscription Figures
| Category | Subscription (No. of times) |
|---|---|
| Qualified Institutional Buyers (QIBs) | 0.26 |
| Non-Institutional Investors (NIIs) | 0.28 |
| Retail Individual Investors (RIIs) | 0.29 |
| Employee | 0.54 |
| Total | 0.28 |