Posted on February 7, 2025, by Niftynews
The much-awaited Ajax Engineering IPO is set to open on February 10, 2025 and will close on February 12, 2025. With an issue size of approximately ₹1,269.35 crores, this book-built issue offers a price band between ₹599 to ₹629 per share. The retail quota stands at 35%, with 50% allocated to QIBs and 15% to HNIs. The IPO listing is scheduled on February 17, 2025, on both BSE and NSE.
Ajax Engineering Overview
- IPO Open Date: February 10, 2025
- IPO Close Date: February 12, 2025
- Price Band: ₹599 to ₹629 per share
- Issue Size: ₹1,269.35 Crores
- Offer for Sale: 2,01,80,446 equity shares
- Face Value: ₹1 per share
- Listing: BSE & NSE on February 17, 2025
- Retail Quota: 35%
- QIB Quota: 50%
- HNI Quota: 15%
- Allotment Date: February 13, 2025
- Refund Date: February 14, 2025
- Credit to Demat Account: February 14, 2025
Ajax Engineering IPO Market Lot
The Ajax Engineering IPO requires a minimum market lot of 23 shares with an application amount of ₹14,467 for retail investors. A maximum of 13 lots (i.e., 299 shares) can be applied for, with an amount of ₹1,88,071.
| Category | Lot Size | Shares | Application Amount |
|---|---|---|---|
| Retail Minimum | 1 Lot | 23 shares | ₹14,467 |
| Retail Maximum | 13 Lots | 299 shares | ₹1,88,071 |
| S-HNI Minimum | 14 Lots | 322 shares | ₹2,02,538 |
| B-HNI Minimum | 70 Lots | 1,610 shares | ₹10,12,690 |
Employee Discount: ₹59 per share.
Ajax Engineering IPO Financials
For the financial year 2024, Ajax Engineering reported significant growth:
- Revenue: ₹1,780.07 crores (up from ₹1,172.57 crores in FY2023)
- Profit After Tax (PAT): ₹225.28 crores (up from ₹135.53 crores in FY2023)
The company’s robust financials and growth trajectory make it a promising candidate for long-term investment.
| Financial Year | Revenue (₹ Cr.) | Profit After Tax (₹ Cr.) | Total Assets (₹ Cr.) |
|---|---|---|---|
| 2022 | ₹771.85 | ₹66.38 | ₹735.31 |
| 2023 | ₹1,172.57 | ₹135.53 | ₹966.73 |
| 2024 | ₹1,780.07 | ₹225.28 | ₹1,236.14 |
Ajax Engineering IPO Key Metrics (FY2024)
| KPI | Value |
|---|---|
| Earnings Per Share (EPS) | ₹19.68 (Basic) |
| Price-to-Earnings Ratio (P/E) | N/A |
| Return on Equity (ROE) | 24.53% |
| Return on Capital Employed (ROCE) | 32.82% |
| EBITDA Margin | 15.82% |
| Profit After Tax (PAT) Margin | 12.65% |
| Debt-to-Equity Ratio | 0.01 |
| Net Asset Value (NAV) | ₹80.24 |
Ajax Engineering IPO Review
Ajax Engineering, a Bengaluru-based company, has been in operation since 1992 under the name Ajax Fiori Engineering. With a strong footprint in the concrete equipment manufacturing industry, the company has sold more than 27,800 pieces of equipment across India and even in neighboring countries like Nepal and Bhutan.
It is currently building a new manufacturing plant in Adinarayanahosahalli, scheduled for completion by 2025. These expansions and innovations indicate potential for future growth.
IPO Lead Managers
- ICICI Securities Limited
- Citigroup Global Markets India Private Limited
- JM Financial Limited
- Nuvama Wealth Management Limited
- SBI Capital Markets Limited
IPO Registrar: Link Intime India Private Limited
- Phone: +91 81 0811 4949
- E-mail: ajaxengineering.ipo@linkintime.co.in
- Website: www.linkintime.co.in
Ajax Engineering IPO FAQs
- What is the Ajax Engineering IPO?
The Ajax Engineering IPO is a mainboard issue where the company will raise ₹1,269.35 crores through a price band of ₹599 to ₹629 per share. - When will the Ajax Engineering IPO open for subscription?
The IPO will open on February 10, 2025, and close on February 12, 2025. - What is the investor’s portion in the Ajax Engineering IPO?
The IPO is split as follows:- 50% for QIBs
- 35% for Retail Investors
- 15% for HNIs
- How to apply for the Ajax Engineering IPO?
Investors can apply through ASBA via their bank accounts or through their stock brokers. - What is the lot size for the Ajax Engineering IPO?
The minimum lot size is 23 shares, with an application amount of ₹14,467. - When is the Ajax Engineering IPO allotment date?
The allotment will be finalized on February 13, 2025. - When is the Ajax Engineering IPO listing date?
The IPO will list on February 17, 2025, on both BSE and NSE.
Ajax Engineering IPO Promoter Holding
- Pre-Issue Holding: 93.50%
- Post-Issue Holding: To be updated after the IPO
Conclusion
The Ajax Engineering IPO presents an exciting investment opportunity for long-term investors given the company’s growth trajectory and robust financials. With a price band of ₹599 to ₹629 per share, the issue is well-positioned in the thriving infrastructure sector. Be sure to stay updated on the IPO dates, allotment details, and listing information.
