Ajax Engineering IPO Day 1: Check price band, lot size, issue details & more

Ajax Engineering IPO, a concrete equipment and services manufacturer company, is open for subscription on February 10, 2025 and will close on February 12, 2025. The IPO is an entirely offer for sale of 2.02 crore shares valuing ₹1,269.35 crore. The company has fixed the price band at ₹599 to ₹629 per share for the initial share sale.

The allotment for the Ajax Engineering IPO is expected to be finalised on February 13, 2025. Ajax Engineering IPO will be listed on BSE, NSE with a tentative listing date fixed as Monday, February 17, 2025.

The minimum investment required by retail investors to invest in Ajax Engineering IPO is ₹14,467 for a lot of 23 shares.

Ajax Engineering is a concrete equipment manufacturer that offers a range of equipment, services, and solutions across the concrete application value chain.

The company is a leading producer of SLCMs in India. It has around 77% market share in the SLCM segment during the six-month period ending September 30, 2024. The company accounted for 75%, 77% and 86% of the number of SLCMs sold in the Financial Years 2024, 2023 and 2022, respectively.

As of September 30, 2024, the company has four assembling and manufacturing facilities at Obadenahalli, Gowribidanur and Basethahalli in Karnataka, each specialising in distinct product lines. The Obadenahalli Facility of Ajax Engineering is among the largest SLCM facilities globally in terms of area, as of March 31, 2024. The market capitalization of Ajax Engineering IPO is ₹7196.19 crore.

ICICI Securities, Citigroup Global Markets, JM Financial, Nuvama Wealth Management, and SBI Capital Markets have been appointed lead managers of the book build issue.