Ajax Engineering IPO subscription starts on 10 February 2025 and will close on 12 February 2025. The company plans to raise around INR 1,208.81 – 1,269.35 crore via the IPO. The price band is fixed at INR 599 – 629 per share. Additionally, there is an employee discount of INR 59 per share. Ajax Engineering IPO market lot has 23 shares, and the minimum application amount is INR 14,467. The retail quota is 35%, QIB is 50%, and NII is 15%.
Check Ajax Engineering IPO Subscription Status here. The subscription figures are taken from BSE and NSE and are updated at regular intervals. Here you can find Ajax Engineering IPO Subscription Status segregated by days and investor categories.
Ajax Engineering IPO Subscription Status – Live Updates
| Category | QIB | NII | Retail | Emp | Total |
|---|---|---|---|---|---|
| Shares Offered | 40,20,300 | 30,15,225 | 70,35,525 | 78,947 | 1,41,49,997 |
| 12 Feb 2025 | 14.41 | 6.46 | 1.90 | 2.61 | 6.43 |
| 11 Feb 2025 | 0.33 | 0.61 | 0.52 | 1.19 | 0.49 |
| 10 Feb 2025 | 0.26 | 0.28 | 0.29 | 0.54 | 0.28 |
Shares allotted to anchor investors are not included in these calculations. Similarly, shares allotted to market makers, if any, are not part of these calculations.
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Ajax Engineering – Business Background
Founded in 1992, Ajax Engineering is a global leader in providing concreting solutions. The company manufactures and provides after-sales support for self-loading concrete mixers, concrete batching plants, transit mixers, stationary pumps, boom pumps, self-propelled boom pumps, and slip-form pavers. They offer end-to-end solutions encompassing concrete production, transport, placement, and pavement.
Ajax Engineering has sold over 29,800 concrete equipment units in India over the past decade. As of 30 September 2024, the company operates through 51 dealerships across 23 states in India, serving contractors, rental companies, large construction firms, and government agencies.
Ajax Engineering has demonstrated healthy financial performance with consistent revenue and profit growth. The company’s revenue increased from INR 1,151.13 crore in March 2023 to INR 1,741.40 crore in March 2024. Net profit also saw a sharp increase of 65.7% in fiscal year 2024, reaching INR 225.1 crore. Correspondingly, the profit after tax (PAT) increased from INR 135.90 crore in March 2023 to INR 225.15 crore in March 2024.
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Investor Categories in Ajax Engineering IPO Subscription
The three most important categories of IPO investors defined by SEBI are part of Ajax Engineering IPO.
Qualified Institutional Buyers (QIB) – Examples of QIBs are Foreign Portfolio Investors (FPIs), Scheduled Commercial Banks, Mutual Funds, Venture Capital Funds, Foreign Venture Capital Investors (FVCIs), Alternative Investment Funds (AIFs), Insurance Companies, Provident Funds and Pension Funds with a minimum corpus of INR 250 million.
Generally, 50% of the offer is reserved for QIBs. Some of these are classified as anchor investors which work towards stabilizing an IPO.
Non-Institutional Investor (NII) – These are affluent investors who can invest more than INR 200,000. In other words, these are High Networth Individuals (HNIs). Generally, 15% of the offer is reserved for this category. Bids in the category need to exceed INR 200,000. Typical examples include Category III FPIs, resident Indian individuals, HUFs (in the name of Karta), companies, corporate bodies, eligible NRIs, scientific institutions, societies, and trusts.
The NII category is further divided into two – big and small – the threshold application amount being INR 10,00,000 (INR 10 lakh).
Retail Individual Investor (RII) – This category is purely meant for small investors, whose bid must not exceed INR 200,000 per person. Usually, 35% of total shares are reserved for this category in the case of a company with profitable operations. If the IPO-bound company does not fulfill this criterion, only 10% of shares are reserved for retail investors.
Employee – Shares reserved for company employees are not part of the Net Offer and there may additionally be a discount on offer price to encourage employees to subscribe. Investors in the employee category may also apply under the retail category in an IPO. Therefore, this category of IPO investors has a unique advantage.
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Ajax Engineering IPO Subscription Status FAQs
When will the Ajax Engineering IPO subscription start?
Ajax Engineering IPO subscription starts on 10 February 2025 and ends on 12 February 2025.
How to subscribe to Ajax Engineering IPO?
You can subscribe to the IPO through ASBA and non-ASBA options. To use ASBA, login to your bank account and apply for the IPO online. Alternatively, you can download the form online or obtain a physical form, then submit the completed form to your broker or bank.
When will Ajax Engineering IPO be listed?
Ajax Engineering IPO will be listed on 17 February 2025, on the BSE and NSE stock exchanges.