Ajax Engineering IPO opens on February 10; check price band, lot size, key dates and more

Ajax Engineering IPO: The initial public offer of leading concrete equipment manufacturer Ajax Engineering Limited will open for subscription on Monday, February 10. The issue, which has set a price band of ₹599 to ₹629 per equity share, will conclude on Wednesday, February 12.

The ₹1,269.35 crore initial share sale is exclusively an offer for sale (OFS) of 2.02 crore shares without a fresh issue component.

As there is no fresh issuance of shares, the company will not receive any proceeds from the issue. The money raised will go to selling shareholders.

Under the OFS, promoters Krishnaswamy Vijay, Jacob Jiten John, Kalyani Vijay, Susie John, and Jacob Hansen Family Trust will offload their stakes. Investor Kedaara Capital Fund II LLP will also completely exit Ajax Engineering by divesting its entire stake.

Ajax Engineering IPO lot size

Retail investors can apply for at least one lot, consisting of 23 shares. The minimum investment needed is ₹14,467.

The company has reserved 50% of the net offer for qualified institutional buyers (QIBs), 35% for retail investors, and the remaining 15% for non-institutional investors.

The book-running lead managers for the issue are ICICI Securities, JM Financial, Citigroup Global Markets India, SBI Capital Markets, and Nuvama Wealth Management, while the registrar is Link Intime India.

Ajax Engineering IPO: Allotment and listing date

About the company

Ajax Engineering is a leading manufacturer of concrete equipment, offering a comprehensive range of services and solutions. It has developed more than 141 variants serving the concrete value chain and has sold nearly 30,000 pieces of concrete equipment in the past 10 years.