Bengaluru-based manufacturer Ajax Engineering Limited has submitted DRHP (Draft Red Herring Prospectus) to the SEBI (Securities and Exchange Board of India) for an IPO on 30 September, which has only OFS (Offer for sale) of 2.28 crores equity shares.
The company will not receive any proceeds from the offer for sale. The objective of the offer is to achieve the benefits of listing its equity shares on the stock exchanges and to carry out the offer for sale for the selling shareholders, it said. Proceeds from the OFS, after deducting expenses and taxes, will be distributed to the respective selling shareholders.
The book-running lead managers for the IPO are ICICI Securities Ltd., Citigroup Global Markets India Pvt., JM Financial Ltd., Nuvama Wealth Management Ltd., and SBI Capital Markets Ltd. Link Intime India Pvt. will act as the registrar for the IPO.
The promoter-selling shareholders include Krishnaswamy Vijay, Kalyani Vijay, Jacob Jiten John, Jacob Hansen Family Trust, Susie John, and Kedaara Capital Fund II LLP. The equity shares from the offering are proposed to be listed on both the BSE and the National Stock Exchange of India Ltd. These are the strengths of the company Advanced technological knowledge, transparency, product quality, and credibility.
This company tied up with the concrete equipment manufacturer and has sold over 27,800 pieces of concrete equipment in India. This Company was established as ‘Ajax Fiori Engineering (India) Private Limited’ on July 3, 1992. Ajax has a dependable dealer network that spans the whole country, including Nepal and Bhutan. This company has also built a manufacturing facility in Adinarayanahosahalli which will be completed in 2025.
Ajax Engineering had 1,741 crores in revenue in FY 2024 and a total income is 17,800.74.moreover this company. Further, the Total non-current assets is 2,670.94 million and the Total current assets are 9,690.48 million. Moreover, Total equity and liabilities are 12,361.42 in FY 2024.
AJAX Engineering IPO Prospectus:
| DRHP Draft Prospectus: | Click Here |
| RHP Draft Prospectus: | To be Updated Soon |
AJAX Engineering Company Financial Report
Amount ₹ in Crores
| Period Ended | Revenue | Expense | Profit After Tax |
| 2022 | ₹771.85 | ₹681.43 | ₹66.21 |
| 2023 | ₹1,172.57 | ₹989.62 | ₹135.90 |
| 2024 | ₹1,780.07 | ₹1,478.16 | ₹225.15 |
AJAX Engineering IPO Valuation – FY2024
AJAX Engineering IPO valuations detail like Earning Per Share (EPS), Price/Earning P/E Ratio, Return on Net Worth (RoNW), and Net Asset Value (NAV) details.
| Earning Per Share (EPS): | ₹19.68 (Basic) |
| Price/Earning P/E Ratio: | N/A |
| Return on Net Worth (RoNW): | 19.39% |
| Net Asset Value (NAV): | ₹80.24 |
Peer Group Comparison
| Company | EPS | PE Ratio | RoNW % | NAV | Income |
| Action Construction Equipment Limited | 27.56 | 45.38 | 26.65% | 103.42 | 2990.90 Cr. |
| BEML Limited | 67.66 | 58.07 | 10.56% | 640.55 | 4096.56 Cr. |
| Escorts Kubota Limited | 96.80 | 39.49 | 11.44% | 780.83 | 9248.21 Cr. |
Objects of the Issue
- To be updated soon
IPO Lead Managers aka Merchant Bankers
- ICICI Securities Limited
- Citigroup Global Markets India Private Limited
- JM Financial Limited
- Nuvama Wealth Management Limited
- SBI Capital Markets Limited
