Ajax Engineering IPO Upcoming
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Schedule of Ajax Engineering
| Issue open date | 10 Feb 2025 |
| Issue close date | 12 Feb 2025 |
| UPI mandate deadline | 12 Feb 2025 (5 PM) |
| Allotment finalization | 13 Feb 2025 |
| Refund initiation | 14 Feb 2025 |
| Share credit | 14 Feb 2025 |
| Listing date | 17 Feb 2025 |
| Mandate end date | 27 Feb 2025 |
| Lock-in end date for anchor investors (50%) | 15 Mar 2025 |
| Lock-in end date for anchor investors (remaining) | 14 May 2025 |
Note: The schedule is tentative. The anchor lock-in period ends 30 days after the actual allotment date for 50% of the shares and 90 days after for the remaining portion. The allotment status can be checked on the registrar's website and the exchange website.
About Ajax Engineering
Incorporated in 1992, Ajax Engineering is a leading concrete equipment manufacturer offering a comprehensive range of equipment, services, and solutions across the concrete application value chain. As of September 30, 2024, the company has developed over 141 concrete equipment variants and sold more than 29,800 units in India over the past decade. The product portfolio includes self-loading concrete mixers, batching plants, transit mixers, boom pumps, concrete pumps, self-propelled boom pumps, slip-form pavers, and 3D concrete printers. The company operates through 51 dealerships across 23 states in India, providing 114 touchpoints, including 34 service centers. Additionally, 25 dealers and distributors are established across South and Southeast Asia, the Middle East, and Africa. As of September 30, 2024, Ajax Engineering has supplied concrete equipment and spare parts to over 15,700 customers.
Financials of Ajax Engineering
Issue size
| Funds Raised in the IPO | Amount |
| Overall | ₹1,269.35 crores |
| Offer for Sale | ₹1,269.35 crores |
Strengths
- Market leader in large, fast-growing SLCM market, dominant share.
- Comprehensive concrete equipment, services, and solutions across the value chain.
- Strong in-house design, development, and engineering capabilities present.
- Technology-led manufacturing is supported by a robust supplier network.
- Dealer-led distribution model with a widespread network across multiple regions.
- Diverse customer base with strong, long-term relationships in the industry.
- Experienced management team backed by skilled and qualified personnel.
Risks
- Revenue depends on self-loading concrete mixers; decline may hurt business.
- Seasonal sales fluctuations can negatively impact financial performance stability.
- Material price volatility and availability issues affect financial health.
- Manufacturing limited to Karnataka, exposing business to regional risks.
- Auditor reports include modifications that could impact stock performance.
- Facility disruptions could harm operations, financial results, and stability.
- Rapid growth may not sustain, affecting financial health long-term.
Allotment Status for Ajax Engineering
To check your allotment status – click here.