Ajax Engineering Limited (MAINBOARD)
Feb 10, 2025 - Feb 12, 2025
| Price | ₹599 - ₹629 |
| Premium | ₹-3 |
|---|---|
| Lot size | 23 |
| Allotment | Feb 13, 2025 |
| Listing | Feb 17, 2025 |
| Category | Lot(s) | Qty | Amount | Reserved |
|---|---|---|---|---|
| Retail | 1 | 23 | 14467 | 305892 |
| sHNI | 14 | 322 | 202538 | 3121 |
| bHNI | 70 | 1610 | 1012690 | 6243 |
Last updated on 12-Feb-2025 18:57:03
| Category | Offered | Applied | Times |
|---|---|---|---|
| QIBs | 4020300 | 57946016 | 14.41 |
| HNIs | 3015225 | 19495237 | 6.47 |
| HNIs 10+ | 2010150 | 15830509 | 7.88 |
| HNIs 2+ | 1005075 | 3664728 | 3.65 |
| Retail | 7035525 | 13563767 | 1.93 |
| Employees | 78947 | 206931 | 2.62 |
| Total | 14149997 | 91211951 | 6.45 |
Application-Wise Breakup (Approx. no. of Apps) | |||
|---|---|---|---|
| Category | Reserved | Applied | Times |
| HNIs (10L+) | 6243 | 7474 | 1.2 |
| HNIs (2-10L) | 3121 | 10924 | 3.5 |
| Retail | 305892 | 250715 | 0.82 |
| Employee | - | 5208 | - |
| Subscription Demand (in ₹ crore) | |||
|---|---|---|---|
| Category | Offered | Demand | Times |
| QIBs | 252.88 | 3644.8 | 14.41 |
| FIIs | - | 1985.04 | - |
| DIIs | - | 523.19 | - |
| Mutual funds | - | 841.89 | - |
| Others | - | 294.69 | - |
| HNIs | 189.66 | 1226.25 | 6.47 |
| HNIs 10+ | 126.44 | 995.74 | 7.88 |
| HNIs 2+ | 63.22 | 230.51 | 3.65 |
| Retail | 442.53 | 853.16 | 1.93 |
| Employees | 4.97 | 13.02 | 2.62 |
| Total | 890.03 | 5737.23 | 6.45 |
| QIB Interest Cost per share (7 Days) | |||||
|---|---|---|---|---|---|
| @7% ₹12.2 | @8% ₹13.9 | @9% ₹15.6 | @10% ₹17.4 | @11% ₹19.1 | @12% ₹20.9 |
IPO Details
| Issue Size | Up to2,01,80,446 equity shares aggregating up to ₹1,269.35 crores. |
| Offer For Sale | Up to2,01,80,446 equity shares aggregating up to ₹1,269.35 crores. |
| Issue Type | Book Built Issue IPO |
| Listing At | NSE,BSE |
| Share holding pre issue | 11,44,06,800 shares |
IPO Reservation
| Investor Category | Shares Offered |
|---|---|
| QIB Shares Offered | Not more than 50% of the Net Offer |
| Retail Shares Offered | Not less than 35% of the Net Offer |
| NII (HNI) Shares Offered | Not more than 15% of the Net Offer |
Key Performance Indicators
| KPI | Sep-24 | Mar-24 | Mar-23 |
|---|---|---|---|
| ROE | 10.14% | 24.53% | 19.04% |
| ROCE | 13.84% | 32.82% | 25.31% |
| RONW | 8.15% | 19.39% | 14.20% |
| EPS (basic) | 8.79 | 19.58 | 11.88 |
| P/E Pre IPO | 31.96 | ||
| P/E Post IPO | 31.96 |
Financial Details In Crores.
| Period Ended | Sept-24 | Mar-24 | Mar-23 | Mar-22 |
|---|---|---|---|---|
| Assets | 1349 | 1236 | 967 | 735 |
| Revenue | 794 | 1780 | 1173 | 772 |
| Profit After Tax | 101 | 225 | 136 | 66 |
| Net Worth | 996 | 918 | 714 | 578 |
| Reserves and Surplus | 984 | 907 | 702 | 575 |
| Total Borrowing | 0 | 6 | 10 | 7 |
About Company
Ajax Engineering Limited, incorporated in July 1992, is a leading manufacturer of concrete equipment, offering a diverse range of products and services across the value chain. As of September 30, 2024, the company has developed 141 concrete equipment variants and sold over 29,800 units in India over the past decade. Its design, engineering, and development team consists of 79 full-time employees, representing about 15.96% of the total workforce. The company operates four specialized manufacturing facilities in Karnataka, located at Obadenahalli, Gowribidanur, and Bashettihalli, with the Obadenahalli facility playing a key role in production. Ajax Engineering has built a strong distribution network, with 51 dealerships across 23 states in India, providing 114 touchpoints, including 51 headquarters and 63 branches, 34 of which also function as service centers. Additionally, the company has expanded its global footprint with 25 dealers and distributors across South and Southeast Asia, the Middle East, and Africa. With a strong customer base, Ajax Engineering has sold concrete equipment and spare parts to over 15,700 customers as of September 30, 2024, reinforcing its position as a key player in the concrete equipment industry.As of September 30, 2024, the service team included 85 employees, such as coordinators, managers, specialists, and customer service executives supporting our dealer network.
ICICI Securities Limited
Citigroup Global Markets India Private Limited
Jm Financial Limited
Nuvama Wealth Management Limited
SBI Capital Markets Limited
Market Leadership in SLCM – Ajax Engineering is a dominant player in the fast-growing Self-Loading Concrete Mixer (SLCM) market, leveraging its extensive experience and customer base.
Comprehensive Product & Service Portfolio – The company offers a full range of concrete equipment, services, and solutions across the concrete application value chain, ensuring end-to-end support for customers.
Strong In-House Design & Engineering – With a dedicated team of 85 professionals, Ajax Engineering drives innovation through in-house design, development, and engineering capabilities, enhancing product quality and performance.
Dependence on SLCM Sales – With 85.13% of revenue coming from Self-Loading Concrete Mixers (SLCMs) in FY 2024, any decline in SLCM demand or the broader concrete equipment market could significantly impact financial performance.
Seasonal Business Impact – Sales fluctuations across quarters due to seasonality can lead to inconsistent revenue streams, affecting overall financial stability.
Raw Material Price & Supply Risks – Volatility in material prices and supply chain disruptions could adversely impact production costs, margins, and cash flows.
Phone: +91-22-4918 6270
Email: ajaxengineering.ipo@linkintime.co.in
Website: https://linkintime.co.in/Initial_Offer/public-issues.html