
Ajax Engineering IPO Description – Ajax Engineering is a prominent manufacturer of concrete equipment in India, offering a wide range of solutions across the concrete application value chain. Established 32 years ago, the company has developed a diverse product portfolio, including self-loading concrete mixers (SLCMs), batching plants, transit mixers, boom pumps, slip-form pavers, and 3D concrete printers. As of 31 March 2024, Ajax Engineering has introduced over 110 equipment variants and sold over 27,800 units within the country, underscoring its market leadership.
Ajax Engineering holds a dominant position in the SLCM market in India, with a market share of 75%, 77%, and 86% for the Financial Years 2024, 2023, and 2022, respectively. Notably, 12% of the concrete produced in India in FY2024 was processed through its SLCMs. The company’s SLCM sales experienced a compound annual growth rate (CAGR) of 58.36% between FY2022 and FY2024. Additionally, its non-SLCM portfolio, which includes batching plants, transit mixers, and boom pumps, recorded a CAGR of 24.42% during the same period.
With four state-of-the-art manufacturing facilities in Karnataka, including one of the world’s largest SLCM facilities by area, Ajax Engineering is well-equipped to meet increasing demand. The company’s robust dealer network spans 23 states with 114 touchpoints, ensuring seamless service and support. By 31 March 2024, Ajax Engineering had sold equipment and spare parts to over 15,700 customers.

Promoters of Ajax Engineering – Krishnaswamy Vijay, Jacob Jiten John, Kalyani Vijay, Madhuri Vijay, Prashanth Vijay, Rachel Rekha Hansen, Savitha Christeena Alexander, Sean Alexander, Green Haven Trust, Ohana Trust, Jacob Hansen Family Trust, and The Johns Loaves Trust
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Ajax Engineering IPO Details
Ajax Engineering IPO Dates | 10 – 12 February 2025 |
Ajax Engineering Issue Price | INR 599 – 629 per share Employee Discount – INR 59 per share |
Fresh issue | Nil |
Offer For Sale | 2,01,80,446 shares (INR 1,208.81 – 1,269.35 crore) |
Total IPO size | 2,01,80,446 shares (INR 1,208.81 – 1,269.35 crore) |
Minimum bid (lot size) | 23 shares (INR 14,467) |
Face Value | INR 1 per share |
Retail Allocation | 35% |
Listing On | NSE, BSE |
Ajax Engineering Financial Performance
FY 2022 | FY 2023 | FY 2024 | H1 FY 2025 | |
Revenue | 763.29 | 1,151.13 | 1,741.40 | 769.99 |
Expenses | 681.43 | 989.62 | 1,478.16 | 657.03 |
Net income | 66.21 | 135.90 | 225.15 | 101.24 |
Margin (%) | 8.67 | 11.81 | 12.93 | 13.15 |
Ajax Engineering Offer News
- Ajax Engineering RHP
- Ajax Engineering DRHP
- ASBA IPO Forms
- Live IPO Subscription Status
- IPO Allotment Status
Ajax Engineering Valuations & Margins
FY 2022 | FY 2023 | FY 2024 (Pre Issue) | FY 2025 (Post-Issue)* | |
EPS | 5.79 | 11.88 | 19.58 | 17.58 |
PE Ratio | – | – | 30.59 – 32.12 | 34.07 – 35.78 |
FY 2022 | FY 2023 | FY 2024 | |
RONW (%) | 8.06 | 14.20 | 19.39 |
NAV | 50.55 | 62.39 | 80.24 |
ROCE (%) | 15.52 | 25.31 | 32.82 |
EBITDA (%) | 11.85 | 14.83 | 15.82 |
Debt/Equity | 0.01 | 0.02 | 0.01 |
Ajax Engineering IPO GMP Today (Daily Trend)
Date | Day-wise IPO GMP | Kostak | Subject to Sauda |
10 February 2025 | 50 | – | 850 |
8 February 2025 | 45 | – | 750 |
7 February 2025 | 55 | – | 850 |
6 February 2025 | 50 | – | 400 |
Ajax Engineering – Comparison With Listed Peers
Company | PE ratio | EPS | RONW (%) | NAV | Revenue (Cr.) |
Ajax Engineering | 32.12 | 19.58 | 19.39 | 80.24 | 1,780.07 |
Action Construction | 45.38 | 27.56 | 26.65 | 103.42 | 2,990.90 |
BEML Ltd | 58.07 | 67.66 | 10.56 | 640.55 | 4,096.56 |
Ajax Engineering IPO Allotment Status
Ajax Engineering IPO allotment status will be available on Link Intime’s website. Click on Link Intime IPO weblink to get allotment status.
Ajax Engineering IPO Dates & Listing Performance
IPO Opening Date | 10 February 2025 |
IPO Closing Date | 12 February 2025 |
Finalization of Basis of Allotment | 13 February 2025 |
Initiation of refunds | 14 February 2025 |
Transfer of shares to demat accounts | 14 February 2025 |
Ajax Engineering IPO Listing Date | 17 February 2025 |
Opening Price on NSE | Coming soon |
Closing Price on NSE | Coming soon |
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Ajax Engineering Offer Lead Manager
IIFL SECURITIES LIMITED
24th Floor, One Lodha Place, Senapati Bapat Marg,
Lower Parel (West) Mumbai 400 013 Maharashtra
Phone: +91 22 4646 4728
Email: [email protected]
Website: www.iiflcap.com
Ajax Engineering Offer Registrar
LINK INTIME INDIA PRIVATE LIMITED
C-101, 1st Floor, 247 Park L.B.S. Marg,
Vikhroli West, Mumbai – 400 083, Maharashtra
Telephone: +91 810 811 4949
Email: [email protected]
Website: www.linkintime.co.in
Ajax Engineering Contact Details
AJAX ENGINEERING LIMITED
253/1, 11th Main Road, 3rd Phase, Peenya
Industrial Area, Bengaluru 560 058, Karnataka, India
Phone: +91 82 9633 6111
Email: [email protected]
Website: www.ajax-engg.com
Ajax Engineering IPO FAQs
How many shares in Ajax Engineering IPO are reserved for HNIs and retail investors?
The investors’ portion for QIB – 50%, NII – 15%, and Retail – 35%.
How to apply for Ajax Engineering Public Offer?
The best way to apply for Ajax Engineering’s public offer is through Internet banking ASBA (know all about ASBA here). You can also apply online through your stock broker using UPI. If you prefer to make paper applications, fill up an offline IPO form and deposit the same to your broker.
What is Ajax Engineering IPO GMP today?
Ajax Engineering IPO GMP today is INR 50 per share.
What is the Ajax Engineering kostak rate today?
Ajax Engineering kostak rate today is INR NA per application.
What is Ajax Engineering Subject to Sauda rate today?
Ajax Engineering Subject to Sauda rate today is INR 850 per application.