Ajax Engineering IPO: Check IPO Date, Live Subscription and Key Details
Established in July 1992, Ajax Engineering Limited specializes in designing and manufacturing concrete equipment while providing services across the value chain. The company has developed 110 equipment variants, selling over 27,800 units in India over the past decade as of March 31, 2024.
Min Investment
₹14467
Price Range
₹599.0 - ₹629.0
Issue Size
₹1269.35 Cr
IPO Type
Mainboard
Key Metrics
Face Value
₹1
EPS
17.66
P/E Ratio
35.62
RoNW
19.39%
ROE
24.53%
Debt to Equity
0.01
Timeline
IPO Opens
10 Feb
IPO Closes
12 Feb
Allotment
13 Feb
Listing
17 Feb
IPO Objectives
- 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.
Strengths
- Leading player in the rapidly expanding self-loading concrete mixer (SLCM) market.
- Diverse product portfolio catering to the entire concrete application process.
- Strong in-house expertise in design, development, and engineering.
- Wide dealership network ensuring broad distribution and service coverage.
- Experienced leadership with skilled professionals and industry knowledge.
Weaknesses
- Heavy reliance on the Indian market for revenue generation.
- Limited international footprint compared to global competitors.
- Susceptible to fluctuations in raw material prices impacting costs.
- Capital-intensive operations with significant manufacturing and R&D expenses.
- Demand fluctuations due to cyclicality in the construction and infrastructure sectors.
Financial Performance
| Period Ended | 30 Sep 2024 | 31 Mar 2024 | 31 Mar 2023 | 31 Mar 2022 |
|---|---|---|---|---|
| Assets (₹ Cr.) | 1348.76 | 1236.14 | 966.73 | 735.31 |
| Revenue (₹ Cr.) | 794.16 | 1780.07 | 1172.57 | 771.85 |
| PAT (₹ Cr.) | 101.02 | 225.15 | 135.9 | 66.21 |
| Net Worth (₹ Cr.) | 995.84 | 917.96 | 713.8 | 578.27 |
Peer Comparison
| Company | P/B Ratio | P/E Ratio | RONW (%) | Net Worth (₹ Cr.) |
|---|---|---|---|---|
| Ajax Engineering | 7.86 | 31.96 | 19.39 | 995.84 |
| Action Construction | 11.22 | 46.13 | 26.65 | 1232 |
| Beml Ltd. | 4.97 | 54.24 | 10.56 | 2668 |
Subscription Details
Daily Bids Status
| Date | Day 1 | Day 2 |
|---|---|---|
| QIB | 0.26x | 0.26x |
| NII | 0.28x | 0.41x |
| S-HNI | 0.35x | 0.54x |
| B-HNI | 0.24x | 0.33x |
| RII | 0.29x | 0.44x |
| EMP | 0.54x | 0.90x |
| Total | 0.28x | 0.38x |
Overall Subscription Statistics
| Category | Shares Offered | Shares Bid | Bid Amount (₹ Cr) |
|---|---|---|---|
| QIB | 40,20,300 | 10,33,712 | 65.02 |
| NII | 30,15,225 | 12,22,542 | 76.90 |
| Small NII | 10,05,075 | 5,46,687 | 34.39 |
| Big NII | 20,10,150 | 6,63,527 | 41.74 |
| RII | 70,35,525 | 30,82,253 | 193.87 |
| EMP | 78,947 | 70,679 | 4.45 |
| Total | 1,41,49,997 | 54,09,186 | 340.24 |
Company Details
- 253/1, 11th Main Road 3 rd Phase, Peenya Industrial Area Bengaluru 560058
- +91 82 96336111
- complianceofficer@ajax-engg.com
- https://www.ajax-engg.com/
Registrar Details
- Link Intime India Private Ltd
- +91-22-4918 6270
- ajaxengineering.ipo@linkintime.co.in
- https://linkintime.co.in/Initial_Offer/public-issues.html