Ajax Engineering Ltd is one of India’s leading construction equipment manufacturers. Ajax Engineering Ltd has over 25 years of experience in the field of various machinery, cranes and construction technology.
Important Information about Ajax Engineering Ltd
Ajax Engineering Ltd is headquartered in Bengaluru, Karnataka. The company manufactures concrete mixing machines, construction cranes and ancillary equipment. There are 4 separate plants in the state of Karnataka that can manufacture all 4 of these equipment. The new plant is to be set up in Adinarayanahosahalli, Karnataka in 2025.
Latest Information about Ajax Engineering Ltd
Ajax Engineering Ltd, a leading manufacturer of construction equipment, has registered a 28% subscription on the first day of its initial public offering (IOP). According to data analyzed and published by the NSE (National Stock Exchange), out of 1.41 crore shares offered for sale, 39.45 lakh shares have been offered for sale.
Key Features and Subscription Details
Retail Investors (RIIs) are 29% subscribed. Non-Institutional Investors (NIIs) are 28% subscribed. Qualified Institutional Investors (QIBs) are 26% subscribed.
The IPO, which is being backed by Katara Capital, has attracted ₹379 crore from anchor investors, as announced last Friday.
IPO Price List
- The price per share is between ₹599 and ₹629. The IPO size is estimated at ₹1,269 crore.
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Offer For Sale (OFS)
The IPO is being held entirely on the basis of Offer For Sale. Through this, the promoters and an investment partner are selling 2.01 crore shares. Katara Capital is selling 7.437 lakh shares. It is noteworthy that the proceeds from OFS will not accrue to the company.
Important Note: OFS (Offer For Sale) is a type of IPO. In this, instead of issuing new shares, the company sells its own shares to its existing shareholders or investors. The money raised from the sale of those shares does not go to the company as new investment funds. Instead, the money is exchanged among the shareholders.
Through this, the company’s financial strength is not affected and the company keeps its own capital structure unchanged
Ajax Engineering IPO Managers
- ICICI Securities
- Nuwama Wealth Management
- Citigroup Global Markets India
- JM Finance
- SBI Capital Markets
It is noteworthy that all of these act as Book-Running Lead Managers (BRLMs).