Ajax Engineering IPO: Key Details
1. IPO Opening & Closing Dates
- Opens: February 10, 2025
- Closes: February 12, 2025
2. IPO Size & Type
- Total Issue Size: ₹1,269.35 crore
- Entirely an OFS (Offer for Sale) – Company will not receive any funds.
3. Price Band
- ₹599 – ₹629 per share
4. Grey Market Premium (GMP)
- ₹49 per share (indicating a potential listing at ₹678, ~7.79% higher than the upper band).
- Not the actual listing price, subject to market sentiment.
5. Subscription Status (Day 1)
- Overall: 0.02x subscribed
- Retail: 0.03x
- NII: 0.02x
- QIB: No bids yet.
6. Risk Factors
- 85.13% revenue comes from self-loading concrete mixers (SLCMs). Any drop in demand may impact business.
- Seasonal sales fluctuations may affect financial performance.
- Material price changes & supply disruptions could impact operations.
7. Major Investors & Selling Shareholders
- Investor: Kedaara Capital (also invested in Vishal Mega Mart, AU Small Finance Bank).
- Promoters Offloading Shares:
- Krishnaswamy Vijay
- Kalyani Vijay
- Jacob Jiten John
- Jacob Hansen Family Trust
- Susie John
- Kedaara Capital Fund II LLP
8. Anchor Investment
- ₹379.32 crore raised from anchor investors on February 7, 2025.
9. Lead Managers & Registrar
- Lead Managers: ICICI Securities, Citigroup Global Markets, JM Financial, Nuvama Wealth, SBI Capital Markets.
- Registrar: Link Intime.
10. Allotment & Listing Dates
- Allotment Finalization: February 13, 2025
- Listing Date: February 17, 2025 (on BSE & NSE).
11. About Ajax Engineering
- Founded: 1992
- Headquarters: Bangalore
- Products:
- Self-loading concrete mixers
- Concrete batching plants
- Transit mixers
- Stationary & boom pumps
- Self-propelled boom pumps
- Slip-form pavers
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