/ 23 Shares
10-Feb-2025 - 12-Feb-2025
₹ 599 - ₹ 629
₹ 14467.00
23
20,101,339
Face Value - ₹ 1/- Per Share
Listing at NSE BSE
305,892 Application Required in Retail for 1 Time.
Registrar : Link Intime India Private Ltd
Offer for Sale of 2,01,80,446 Equity Shares
| Category | % | Shares/Amount |
|---|---|---|
| QIB | 50% | 10,050,749 Shares RS.632.19 CR |
| HNI 1 | 5% | 1,005,075 Shares RS.63.22 CR @ 3121 FORM 1X |
| HNI 2 | 10% | 2,010,150 Shares RS.126.44 CR @ 6243 FORM 1X |
| Retail | 35% | 7,035,525 Shares RS.442.53 CR @ 305892 FORM 1X |
BRLMs: ICICI Securities, Citigroup Global, JM Financial, Nuvama Wealth, SBI Capital Markets
| Retail (Upto 2 Lakh) | HNI (2 Lakh to 10 Lakh) | HNI (Above 10 Lakh) |
|---|---|---|
| 305892 FORM 1X | 3121 FORM 1X | 6243 FORM 1X |
| Category | Lots | Shares | Amount |
|---|---|---|---|
| Retail (Upto 2 Lakh) | 1 | 23 | ₹ 14,467 |
| Retail (Upto 2 Lakh) | 13 | 299 | ₹ 188,071 |
| S-HNI (2 Lakh to 10 Lakh) | 14 | 322 | ₹ 202,538 |
| S-HNI (2 Lakh to 10 Lakh) | 69 | 1587 | ₹ 998,223 |
| B-HNI (Above 10 Lakh) | 70 | 1610 | ₹ 1,012,690 |
12-Feb-2025 17:39
| Category | Book Size | Subscription | No. of Times |
|---|---|---|---|
| QIB | 4,020,232 ₹ 252.87 Cr. | 57,946,016 ₹ 3644.80 Cr. | 14.41x |
| HNI (<10 LAKH) | 1,005,075 ₹ 63.22 Cr. | 3,651,549 ₹ 229.68 Cr. | 3.63x |
| HNI2 (>10 LAKH) | 2,010,150 ₹ 126.44 Cr. | 15,830,509 ₹ 995.74 Cr. | 7.88x |
| RETAIL | 7,035,535 ₹ 442.54 Cr. | 13,508,981 ₹ 849.71 Cr. | 1.92x |
| Total | 14,070,992 | 90,937,055 | 6.46x |
| Category | Book Size | Subscription | No. of Times |
|---|---|---|---|
| QIB | 4,020,232 ₹ 252.87 Cr. | 57,946,016 ₹ 3644.80 Cr. | 14.41x |
| HNI (<10 LAKH) | 1,005,075 ₹ 63.22 Cr. | 3,651,549 ₹ 229.68 Cr. | 3.63x |
| HNI2 (>10 LAKH) | 2,010,150 ₹ 126.44 Cr. | 15,830,509 ₹ 995.74 Cr. | 7.88x |
| RETAIL | 7,035,535 ₹ 442.54 Cr. | 13,508,981 ₹ 849.71 Cr. | 1.92x |
| Total | 14,070,992 | 90,937,055 | 6.46x |
*Excluding Anchor
Total No. of Application Approx : ~296134 (0.97 Appwise)
Disclaimer: The above-mentioned information / data are sourced from the websites of National Stock Exchange (NSE) and Bombay Stock Exchange (BSE) and are subject to change on real time basis. For updated information / data you can visit their respective website. The information / data provided herein above are for information purpose only and provided "AS IS" and "AS AVAILABLE" basis and without warranty, express or implied. We do not guarantee or warrant the accuracy, adequacy or completeness of the information received through the said websites. “We” hold not responsibility of any kind as regard to any discrepancies, errors, omissions, losses or damages. “We” including its affiliates and any of its officers, directors, personnel and employees, shall not liable for any loss, damage of any nature, including but not limited to direct, indirect, punitive, special, exemplary, consequential, as also any loss of profit in any way arising from the use of information / data received through the said websites. The recipient alone shall be fully responsible / are liable for any decision taken on the basis of such information / data. All recipients should before acting upon the said information make their own investigation, seek appropriate professional advice.
Ajax Engineering (“Ajax”) was originally incorporated on 3rd July, 2021. Ajax is a leading concrete equipment manufacturer with a comprehensive range of concrete equipment, services and solutions across the concrete application value chain. As of September 30, 2024, they have developed over 141 concrete equipment variants catering to the concrete application value chain, and over the last 10 years, they have sold over 29,800 concrete equipment in India.
Since their inception 32 years ago, they have developed a comprehensive product portfolio that includes equipment such as self-loading concrete mixers (“SLCMs”) and batching plants for the production of concrete, transit mixers for the transportation of concrete, boom pumps, concrete pumps and self-propelled boom pumps for the placement of concrete, slip-form pavers for the paving of concrete and 3D concrete printers for depositing concrete
In India, Ajax is a leading manufacturer of SLCMs with an approximately 77%, 75%, 77% and 86% market share in the SLCM market in India in terms of number of SLCMs sold during the 6 months period ended September 30, 2024 and FY 2024, 2023 and 2022, respectively.
Between Financial Year 2022 and the 6 months period ended September 30, 2024, company’s SLCM sales have experienced a CAGR of 45.70%, underscoring the rapid adoption and success of SLCMs in the construction sector.
Company’s concrete equipment has diverse use cases and is deployed across:
Transportation projects such as roads, railway lines, underground tunnels, elevated tracks, flyovers and bridges,
Irrigation projects such as reservoirs, canals, check dams and aqueducts,
Infrastructure projects involving landscaping, drainage and/or construction of airports, power plants, factories, oil and gas terminals, among others.
Their non-SLCM product portfolio includes batching plants for concrete production, transit mixers for concrete transportation, boom pumps, concrete pumps, self-propelled boom pumps for concrete placement, and slip-form pavers.
Ajax is the only Indian company to have developed a slip-form paver entirely in-house in 2019 and the first to commercialize 3D concrete printing machine developed in-house in 2023.
Competitive Strength
Market leader in a large and fast-growing SLCM market
Leading concrete equipment company with a comprehensive range of concrete equipment, services and solutions across the concrete application value chain
Engineering-focused concrete equipment company with strong in-house design, development and engineering capabilities
Technology-led assembly and manufacturing processes and robust supplier network
Dealer-led distribution model with 51 dealerships across 23 states in India as of September 30, 2024
Diversified customer base with longstanding relationships in the concrete equipment market and over 19,000 customers as of September 30, 2024
Experienced management team supported by qualified and experienced personnel
Business Strategies
Maintain the leadership position and grow market share of the SLCM portfolio by developing innovative products to cater to new untapped markets
Strengthen capabilities and increase market share of the non-SLCM portfolio
Improving operational efficiencies
Increase the presence in overseas markets through exports
Explore opportunities for inorganic growth
| Period Ended | 30 Sep 2024 | 31 Mar 2024 | 31 Mar 2023 | 31 Mar 2022 | ||||||||||||||||||||||||||||||||||||
| Assets | 1,348.76 | 1,236.14 | 966.73 | 735.31 | ||||||||||||||||||||||||||||||||||||
| Revenue | 794.16 | 1,780.07 | 1,172.57 | 771.85 | ||||||||||||||||||||||||||||||||||||
| Profit After Tax | 101.02 | 225.15 | 135.9 | 66.21 | ||||||||||||||||||||||||||||||||||||
| Net Worth | 995.84 | 917.96 | 713.8 | 578.27 | ||||||||||||||||||||||||||||||||||||
| Reserves and Surplus | 984.4 | 906.52 | 702.36 | 575.41 | ||||||||||||||||||||||||||||||||||||
| Total Borrowing | 6.23 | 10.14 | 7.16 | |||||||||||||||||||||||||||||||||||||
| Amount in ? Crore | ||||||||||||||||||||||||||||||||||||||||
The Company will not receive any proceeds of the Offer. Each of the Selling Shareholders will be entitled to the respective proportion of proceeds of the Offer for Sale after deducting its portion of the Offer-related expenses and the relevant taxes thereon.
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