The Ajax Engineering IPO 2025 is one of the most anticipated public offerings in India’s infrastructure and construction equipment sector. With a price band of ₹629 per share and an issue size of ₹1,269.35 crores, this IPO has drawn significant attention from retail and institutional investors. In this guide, we break down everything you need to know—from key dates and financials to subscription trends and listing strategies.
What is Ajax Engineering IPO 2025?
Ajax Engineering Limited, a market leader in concrete equipment manufacturing, is set to launch its IPO as a book-built issue comprising 2.02 crore shares. The entire offering is an Offer for Sale (OFS) by existing shareholders, meaning the company will not receive fresh capital.
Key Highlights
- Issue Size: ₹1,269.35 crores
- Price Band: ₹629 per share
- Lot Size: 23 shares (Minimum investment: ₹14,467)
- Listing Exchanges: BSE, NSE
- Employee Discount: ₹59 per share
Ajax Engineering IPO 2025 Key Dates
| Event | Date |
|---|---|
| IPO Open | February 10, 2025 |
| IPO Close | February 12, 2025 |
| Allotment Finalized | February 13, 2025 |
| Listing Date | February 17, 2025 |
Cut-off Time for UPI Mandate: 5 PM on February 12, 2025.
Financial Performance: Should You Invest?
Ajax Engineering has demonstrated robust financial growth, making it a compelling choice for long-term investors.
Financial Snapshot (Restated)
| Metric | Sep 2024 | Mar 2024 | Mar 2023 |
|---|---|---|---|
| Revenue (₹ Cr) | 794.16 | 1,780.07 | 1,172.57 |
| Profit After Tax (₹ Cr) | 101.02 | 225.15 | 135.90 |
| Net Worth (₹ Cr) | 995.84 | 917.96 | 713.80 |
Key Ratios:
- ROE: 24.53%
- Debt/Equity: 0.01 (Nearly debt-free)
- P/E Ratio (Post-IPO): 35.62
“Ajax Engineering dominates the SLCM market with a 75%+ share. Its reasonable valuation and strong financials make it a viable long-term bet.”
– Dilip Davda, Market Analyst
Subscription Status: Who’s Bidding?
As of February 12, 2025, the IPO was 6.06x subscribed, reflecting strong institutional interest:
| Category | Subscription (Times) |
|---|---|
| QIB | 13.04x |
| NII | 6.46x |
| Retail | 1.94x |
| Employees | 2.62x |
Anchor Investors: Raised ₹379.32 crores from anchor bids, with 50% shares locked in for 30 days.
Listing Day Strategy: Sell or Hold?
Expected Listing Price
- GMP (Grey Market Premium): ₹1–2 (Indicative listing at ₹630–635)
- Market Sentiment: Bearish trends may limit gains.
Expert Recommendations
- Short-Term Investors: Exit on listing day due to volatile markets.
- Long-Term Investors: Hold for 6–12 months, leveraging Ajax’s sector leadership and debt-free status.
Risks to Consider:
- Entire IPO is OFS (no fresh capital infusion).
- High valuation (P/E of 35.62) compared to peers.
How to Check Allotment Status?
- Visit Link Intime India Private Ltd (Registrar’s website).
- Enter PAN or application number.
- Shares will be credited to demat accounts by February 14, 2025.
Why Ajax Engineering Stands Out
Competitive Strengths
- Market Leader: 75%+ share in SLCM (self-loading concrete mixers).
- Diverse Product Portfolio: Batching plants, transit mixers, 3D printers.
- Strong Distribution: 51 dealerships across 23 Indian states.
- Global Reach: Exports to 25+ countries in Africa and Southeast Asia.
FAQs
Q1. What is Ajax Engineering’s IPO price?
A: The price band is ₹629 per share.
Q2. Is Ajax Engineering debt-free?
A: Yes, with a debt/equity ratio of 0.01.
Q3. When will Ajax Engineering IPO list?
A: February 17, 2025, on BSE and NSE.
Q4. How to apply for the employee quota?
A: Employees can bid for up to 78,947 shares at a ₹59 discount.
Final Verdict
The Ajax Engineering IPO 2025 offers a mix of opportunity and risk. While its strong market position and financials are appealing, the OFS structure and premium valuation warrant caution. Retail investors should prioritize listing gains, while long-term players can await post-listing corrections for better entry points.
Website: https://www.ajax-engg.com/