Ajax Engineering Limited IPO

Apply 0
Avoid 0

The company are a prominent concrete equipment manufacturer, offering a comprehensive range of equipment, services, and solutions across the concrete application value chain.

Extensive Product Portfolio

Since their inception 32 years ago, they have built a diverse portfolio of concrete equipment, including:
i. Production Equipment: Self-loading concrete mixers (SLCMs) and batching plants.
ii. Transportation Equipment: Transit mixers for concrete movement.
iii. Placement Equipment: Boom pumps, concrete pumps, and self-propelled boom pumps.
iv. Paving & Specialized Equipment: Slip-form pavers and 3D concrete printers.

As of March 31, 2024, they have developed over 110 concrete equipment variants, ensuring solutions for various concrete applications. They have successfully sold more than 27,800 units in India, reinforcing their strong market presence.

Customer-Centric Approach

Beyond equipment manufacturing, we provide **end-to-end customer support**, including:
i. Spare parts supply for all sold equipment.
ii. After-sales service facilitated through their extensive dealer network.

Objects of the Ajax Engineering Limited IPO:

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. Total number of shares issue :- i. Offer for sale is 2,01,80,446 shares.
DRHP of Ajax Engineering Limited IPO
RHP of Ajax Engineering Limited IPO

Ajax Engineering Limited IPO Details:

Open Date: Feb 10 2025
Close Date: Feb 12 2025
Total Shares: 2,01,80,446
Face Value: ₹ 1 Per Equity Share
Issue Size: 1,269.35 Cr.
Lot Size: 23 Shares
Issue Price: ₹ 599 - 629 Per Equity Share
Listing At: NSE,BSE
Listing Date: Feb 17 2025

Promoters And Management:

Krishnaswamy Vijay, Whole-Time Director and Executive Chairman of the Company, holds a B.Tech in Mechanical Engineering from IIT Madras. With 41 years of manufacturing experience, he has been with the company since its inception and previously worked with Tractors Engineer Ltd. and Larsen & Toubro Ltd. Shubhabrata Saha, Managing Director and CEO of the Company, holds a B.Sc. in Engineering from Aligarh Muslim University and an MMS from Bombay University. With 23 years of experience in the manufacturing sector, he has previously worked with Mahindra & Mahindra Ltd. and Mangalore Chemicals & Fertilisers Ltd. Jacob Jiten John, Whole-Time Director of the Company, holds a B.Tech in Mechanical Engineering from Bangalore University, an M.S. in Accounting from the University of Rhode Island, and an MBA from the University of Houston. A Certified Public Accountant (Texas, USA), he has 33+ years of experience across education, accounting, and manufacturing, previously working with Oracle America Inc., OxyLink Employee Service Center, and leading universities.

Financials of Ajax Engineering Limited IPO:

 
Particulars ( in Millions ) 6MFy25 6MFY24 FY24 Fy23 Fy22
Revenue from operations 7,699.85 6,848.59 17,414.03 11,511.28 7,632.89
Other income 241.71 172.71 386.71 214.41 85.64
Total income 7,941.56 7,021.30 17,800.74 11,725.69 7,718.53
Cost of raw materials consumed 8,269.09 5,435.84 12,198.52 7,720.54 4,090.86
Purchase of traded goods 319.29 266.38 534.39 471.06 352.6
Changes in inventories -3,228.58 -697.07 29.01 85.4 1,038.63
Employee benefits expense 516.48 423.51 871.06 723.12 668.84
Finance costs 9.99 9.61 20.27 6.75 4.21
D&A 52.79 50.82 102.73 85.58 81.95
Other expenses 631.21 424.77 1,025.59 803.75 577.17
PBT 1,371.29 1,107.44 3,019.17 1,829.49 904.27
Tax Exepnses 361.07 278.02 767.68 470.45 242.19
PAT 1,010.22 829.42 2,251.49 1,359.04 662.08

Recommendation on Ajax Engineering Limited IPO:

Review and Recommendation of Ajax Engineering IPO by IZ team is 5/10

Lead Manager of Ajax Engineering Limited IPO:

  1. Citigroup Global Markets India Private Limited
  2. ICICI Securities Limited
  3. JM Financial Consultants Private Limited
  4. Nuvama Wealth Management Limited
  5. SBI Capital Markets Limited

Registrar of Ajax Engineering Limited IPO:

  1. Link Intime India Private Limited

Company Address:

Ajax Engineering Limited 253/1, 11th Main Road 3 rd Phase, Peenya Industrial Area Bengaluru 560058 Phone: +91 82 96336111 Email: complianceofficer@ajax-engg.com Website: https://www.ajax-engg.com/

Discussion on Ajax Engineering Limited IPO:

1 Comment

Leave a Reply