Ajax Engineering IPO is a book-built issue valued at Rs 1,269.35 crores, consisting entirely of an offer for sale of 2.02 crore shares.
The subscription for the Ajax Engineering IPO will open on February 10, 2025, and close on February 12, 2025. The allotment process is expected to be finalized on Thursday, February 13, 2025. The IPO is set to list on the BSE and NSE, with a tentative listing date scheduled for Monday, February 17, 2025.
Ajax Engineering operates in the construction equipment manufacturing sector. They are a leading manufacturer of concrete equipment, including self-loading concrete mixers (SLCMs), batching plants, transit mixers, boom pumps, concrete pumps, and slipform pavers
The price band for the Ajax Engineering IPO is set between ₹599 and ₹629 per share. Investors must apply for a minimum lot size of 23 shares. Retail investors are required to invest a minimum of ₹14,467, while small non-institutional investors (sNII) must apply for at least 14 lots (322 shares), amounting to ₹2,02,538. Large non-institutional investors (bNII) must apply for at least 70 lots (1,610 shares), amounting to ₹10,12,690.
ICICI Securities Limited, Citigroup Global Markets India Private Limited, JM Financial Limited, Nuvama Wealth Management Limited, and SBI Capital Markets Limited are the book-running lead managers for the Ajax Engineering IPO, with Link Intime India Private Ltd serving as the registrar for the issue.
Ajax Engineering IPO Details:
| Company Name | Ajax Engineering Limited |
| Sector | Manufacturing |
| IPO Type | Mainboard |
| IPO Open date | 10th Feb 2025 |
| IPO Close date | 12th Feb 2025 |
| Listing Exchanges | NSE, BSE |
| DRHP Draft Prospectus | Click to check |
| RHP Draft Prospects | Click to check |
Ajax Engineering IPO Lot Size:
| Application | Lot Size | Shares | Amount |
| Retail (Min) | 1 | 23 | 14,467 |
| sHNI (Min) | 14 | 322 | 2,02,538 |
| bHNI (Min) | 70 | 1610 | 10,12,690 |
Ajax Engineering IPO Timeline:
| IPO Open Date | 10th Feb 2025 |
| IPO Close Date | 12th Feb 2025 |
| Basis of Allotment | 13th Feb 2025 |
| Refund Initiation Date | 14th Feb 2025 |
| Shares Credit to Demat | 14th Feb 2025 |
| Listing Date | 17th Feb 2025 |
Things to Consider before applying for an IPO
Financial Performance: Review Ajax Engineering’s Financials to understand its revenue, profitability, and growth prospects.
Industry Outlook: Consider the overall health of India’s Manufacturing Industry.
Valuation: Compare the price band to similar companies in the industry to see if the IPO is priced fairly.
Management Team: Research the experience and capabilities of the management team.
Our Verdict
This IPO offers a good opportunity to invest in Ajax Engineering and be a part of its growth.
FAQ
What is Grey Market Premium (GMP)?
The Grey Market Premium (GMP) represents the price at which an Initial Public Offering (IPO) is traded in the unregulated grey market before its official listing. It serves as an indicator of how the IPO might perform on the listing day. Seeing the latest GMP, investors can estimate the listing performance of the IPO.
