About Ajax Engineering Limited:
Founded 32 years ago, the company has developed a wide range of products, including self-loading concrete mixers (SLCMs), batching plants, transit mixers, concrete pumps, and 3D concrete printers. It offers ongoing support through spare parts and after-sales services via a global dealer network. Serving customers from individual contractors to large construction firms, the network spans 51 dealerships across 23 Indian states with 114 touchpoints. For the periods ending September 30, 2024 and 2023, and the fiscal years 2024, 2023, and 2022, revenues were ₹7,699.85 million, ₹6,848.59 million, ₹17,414.03 million, ₹11,511.28 million, and ₹7,632.89 million, with SLCMs representing the majority of sales.
About the Industry in which Ajax Engineering Limited operates:
In India, concrete equipment, particularly self-loading concrete mixers (SLCMs), is crucial in meeting the rising demand for infrastructure and construction projects. Key players in the market include local companies like Aquarius Engineers Private Limited and subsidiaries of global firms such as Fiori Concrete Machines, KYB-Conmat, Putzmeister India, and Schwing Stetter (India). The concrete equipment industry is projected to grow significantly, with the market expanding from ₹61 billion (US$731 million) in FY 2024 to ₹178 billion (US$2,148 million) by FY 2029. This growth is driven by increased cement consumption and higher public and private investments in infrastructure, housing, irrigation, and renewable energy.
| Important Information and Timelines of the IPO of Ajax Engineering Limited: | |
|---|---|
| Open Date | 10 February 2025 |
| Close Date | 12 February 2025 |
| Total Issue Size – Number of Shares | 20180446 |
| Minimum Bid Price | 599 |
| Maximum Bid Price | 629 |
| Lot Size | 23 |
| Basis of Allotment | 13 February 2025 |
| Initiation of Refunds and Credit of Shares to Demat | 14 February 2025 |
| Listing Date | 17 February 2025 |
| Listing Exchange(s) | NSE and BSE |
Minimum and Maximum Lot Sizes for the IPO of Ajax Engineering Limited:
| Category | Lots | Shares | Amount (in ₹) |
|---|---|---|---|
| Retail – Minimum | 1 | 23 | 14467 |
| Retail – Maximum | 13 | 299 | 188071 |
| sHNI – Minimum | 14 | 322 | 202538 |
| sHNI – Maximum | 69 | 1587 | 998223 |
| bHNI – Minimum | 70 | 1610 | 1012690 |
Objective of the IPO of Ajax Engineering Limited:
The Selling Shareholders will receive the entire proceeds from the Offer, after deducting their respective portion of the Offer expenses and applicable taxes. The Company will not receive any proceeds from the Offer. The objectives of the Offer are to (i) obtain the benefits of listing the Equity Shares on the Stock Exchanges and (ii) facilitate the Offer for Sale of up to 20,180,446 equity shares, with a face value of ₹1 each, amounting to ₹[●] million by the Selling Shareholders. Additionally, the Company anticipates that the proposed listing will enhance its visibility, brand image, and provide a public market for its Equity Shares in India.
Financials of Ajax Engineering Limited:
| Sr. No. | Particulars | As at and for the six months period ended | As at and for the year ended March 31, 2024 | As at and for the year ended March 31, 2023 | As at and for the year ended March 31, 2022 |
|---|---|---|---|---|---|
| 1 | Equity Share Capital | 114.41 | 114.41 | 114.41 | 28.60 |
| 2 | Net Worth | 9,958.43 | 9,179.59 | 7,138.00 | 5,782.74 |
| 3 | Revenue from Operations | 7,699.85 | 17,414.03 | 11,511.28 | 7,632.89 |
| 4 | Total Income | 7,941.56 | 17,800.74 | 11,725.69 | 7,718.53 |
| 5 | Restated Profit for the period/year | 1,010.22 | 2,251.49 | 1,359.04 | 662.08 |
| 6 | Restated Earnings per Equity Share* | ||||
| - Basic (₹) | 8.83 | 19.68 | 11.88 | 5.79 | |
| - Diluted (₹) | 8.79 | 19.58 | 11.88 | 5.79 | |
| 7 | NAV per Equity Share | 87.04 | 80.24 | 62.39 | 50.55 |
| 8 | Current Borrowings (A) | - | 62.25 | 101.38 | 71.61 |
| 9 | Non-current Borrowings (B) | - | - | - | - |
| 10 | Total Borrowings (A + B) | - | 62.25 | 101.38 | 71.61 |
| 11 | Debt/Equity Ratio (in times) | 0.002 | 0.01 | 0.02 | 0.01 |
Let me know if you need further adjustments!
For more details on the IPO, refer to the DRHP here.
Did you know that you can now Pre-Apply for an IPO on Dhan? You can place your IPO Bid on Dhan and the order will be pushed to the Exchange as soon as the Bidding starts for Ajax Engineering Limited. You will receive a UPI mandate after 10:00 AM on 10 February 2025.
###1. How to apply for the IPO of Ajax Engineering Limited on Dhan?
You can apply for the IPO of Ajax Engineering Limited from either Dhan Mobile App or Web
On Dhan Mobile App you can find the IPO under the Money Section > IPO Tab
On Dhan Web you can find the IPO under Markets Tab > IPOs
###2. In case of successful allotment, when the IPO shares of Ajax Engineering Limited be visible on Dhan?
The CDSL will intimate you regarding the credit of shares into your Demat account by 14 February 2025. However, you will be able to see the shares of Ajax Engineering Limited on Dhan before the market starts on the listing date which is 17 February 2025.