AJAX Engineering Ltd., one of the largest manufacturers of self-loading concrete mixers in India, is entering the capital market with an initial public offering of equity shares of the face value of Re 1 each on February 10, 2025. The anchor investor bidding date is one working day prior to bid/offer opening date, being Friday, February 7, 2025. The bid/offer will close on February 12, 2025.
The price band of the offer has been fixed from ₹ 599 per equity share to ₹ 629 per equity share. Bids can be made for a minimum of 23 equity shares and multiples of 23 equity shares thereafter. The initial public offering comprises an offer for sale of up to 20,180,446 equity shares.
Established in the year 1992 for manufacturing self-loading concrete mixer, AJAX is known for both its engineering expertise as well as product after-sales support network is truly a world-class leader in providing concreting business solutions that makes concrete sense. Headquartered in Bangalore, AJAX has state-of-the-art manufacturing facilities at Doddaballapur and Gowribidanur in the outskirts of Bangalore, and has started to spread out its wings entering into the field of international business and has its distribution network in Bangladesh, Sri-Lanka, Myanmar, Mozambique, Philippines, Kenya, Tunisia, UAE, Vietnam, Cambodia, Oman, Uganda, and Egypt.
“ISO 9001:2015 & ISO 14001:2015 certified AJAX remains up-to-date in terms of innovation, advanced technologies, and best business practices with international standards delivering customer-centric solutions. We believe in sustainability and adaptability, and enhancing human capital is priority at AJAX to maximise the benefits of artificial intelligence,” Krishnaswamy Vijay, executive chairman of AJAX Engineering said here on Wednesday.
AJAX is committed to embracing digital transformation and is constantly re-inventing itself thereby evaluating the opportunities and solutions to emerge as a next generation player investing in technology to improve its core capabilities and strengths aligning itself and to offer benchmarking products on a par with global standards.
“The infrastructure sector is expected to record a remarkable growth in the coming years as the Union Budget for 2025-26 has allocated Rs 11.21 trillion (capital expenditure) for large-scale projects, including highways, smart cities, and urban transit systems. Further the single-window digital approval mechanism is expected to give a big boost to the sector,” said Shubhabrata Saha, managing director and CEO of AJAXZ Engineering.
ICICI Securities Limited, Citigroup Global Markets India Private Limited, JM Financial Limited, Nuvama Wealth Management Limited and SBI Capital Markets Limited are the book running lead managers to the Offer.
Tuhin Basu, (CFO, Ajax Engineering); Ratnadeep Acharyya (senior vice president, SBI Capital Markets); Surya Modali (vice president, Nuvama wealth management); Sumit Bagri (business head – industrial, chemical and auto, ICICI Securities); Kamal Sultania, (executive director, IBD Coverage (Industrials), JM Financial); and Rajiv Jumani, managing director, Citigroup Global Markets India also attended the meeting.
