Ajax Engineering IPO: The market valuation of Ajax Engineering is estimated to be at the upper half of the pricing range, at Rs 7,200 crore. It is noteworthy that the public offering consists of an OFS (offer-for-sale) of shares (2.01 crore) by the promoters and a shareholder. As a result, Ajax Engineering will not get any of the IPO’s proceeds. Let’s learn more about the Ajax Engineering IPO in detail.
Overview of Ajax Engineering Limited
When AJAX was founded in 1992, its primary goal was to produce self-loading concrete mixers. By adjusting to the demands of its customers, AJAX developed over time with the goal of becoming the most customer-focused company. There is no indication of the precise years of these advancements. AJAX has since broadened its product line to include a variety of concreting-related items and has entered foreign markets, maintaining a distribution network across several nations.
Ajax Engineering IPO Details
Monday, February 10, is the scheduled date for the subscription period for Bengaluru-based Ajax Engineering’s mainboard IPO. The concrete equipment maker, supported by Kedaara Capital, raised more than Rs. 379 crore from investors (anchor) prior to this. HSBC MF, Axis MF, ITI MF, Edelweiss MF, Franklin Templeton Investment Funds, Amundi Funds New Silk Road, and SBI Mutual Fund (MF) are a few of the anchor investors. Other key details of the Ajax Engineering IPO are given below:
| Opening Date of the IPO | 10 February 2025 |
| Closing Date of the IPO | 12 February 2025 |
| Allotment Date of the IPO | 13 February 2025 |
| Listing Date of the IPO | 17 February 2025 |
| Listed At | NSE, BSE |
| Issue Size | Rs.1269 crores |
| Price Range | Rs.599-629 |
| Lot size | 23 |
Objectives of Ajax Engineering IPO
Achieving the advantages of listing equity shares on stock exchanges and conducting an offer for the sale of up to 20,180,446 equity shares with a face value of Rs.1 a piece, totaling Rs.1269.35 crores by the shareholders selling, are the main goals of the initial public offering (IPO).
Ajax Engineering IPO GMP & Promoters
In the unlisted market, shares of Ajax Engineering are fetching a good GMP, according to many websites that monitor gray market premiums. With a GMP between Rs 50 and Rs 55, the IPO might see returns of up to 9% upon listing.
The main promoters of the business include the Johns Loaves Trust, Green Haven Trust, Jacob Hansen Family Trust, Ohana Trust, Jacob Jiten John, Prashanth Vijay, Savitha Christeena Alexander, Madhuri Vijay, Rachel Rekha Hansen, Kalyani Vijay, and Sean Alexander.
Conclusion
According to the company’s excellent position in the market, development potential, and financial performance, the Ajax Engineering IPO seems to have a decent chance of succeeding overall. However, it’s imperative to thoroughly weigh the risks and choose your investments wisely.
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