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Ajax Engineering IPO

Ajax Engineering IPO

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Registrar: MUFG Intime India Private Limited · Listing 2025-02-17
IPO Timeline
Today · 20 Oct 2026
Opens
10 Feb 2025
Closes
12 Feb 2025
Allotment
13 Feb 2025
Refund
14 Feb 2025
Demat
14 Feb 2025
Listing
17 Feb 2025
Price Band
₹599–629
GMP
₹0
0%
Lot Size
23 Shares
Min ₹14,467
Subscription
0x
Issue Size
₹1269 Cr
Open
2025-02-10
Close
2025-02-12
Listing
2025-02-17

About the company

Ajax Engineering, a leading concrete equipment manufacturer, specializes in slip-form concrete machines (SLCMs), batching plants, and boom pumps for infrastructure projects. Known for in-house innovations like SLCMs with load cell technology and self-propelled boom pumps, it drives R&D through TASC. With 51 dealerships across 23 Indian states and 25 international distributors, it serves contractors, rental firms, and government agencies. Holding 75-77% market share, Ajax outpaced market growth in stationary and boom pumps from FY22 to FY24.

Strengths

    Risks

      Financial performance (₹ Cr)

      Subscription breakup (final, times)

      Retail0x
      NII0x
      QIB0x
      Total0x

      IPO Roadmap / Timeline

      Current Status · as of 20 Oct 2026
      Listed
      Listed on 17 Feb 2025
      Listed 610 days ago
      1. IPO Opens

        Completed
        10 Feb 2025

        Bidding starts for all investor categories

      2. IPO Closes

        Completed
        12 Feb 2025

        Last day to place your bid

      3. Basis of Allotment

        Completed
        13 Feb 2025

        Share allotment finalised

      4. Refund Initiation

        Completed
        14 Feb 2025

        Refunds credited for non-allottees

      5. Credit to Demat

        Completed
        14 Feb 2025

        Allotted shares credited to demat account

      6. Listing on Exchange

        Completed
        17 Feb 2025

        Shares list on NSE / BSE

      Post-close dates are indicative as per SEBI T+3 listing framework and may change per registrar updates.

      Lot size & minimum investment

      Lot Size
      23 shares
      Price / Share (upper)
      ₹629
      Min Investment (1 lot)
      ₹14,467
      Price Band
      ₹599–629
      Retail
      ≤ ₹2,00,000
      Min lots
      1
      Min shares
      23
      Min amount
      ₹14,467
      Max amount
      ₹188,071
      sHNI (Small HNI)
      ₹2L – ₹10L
      Min lots
      14
      Min shares
      322
      Min amount
      ₹202,538
      Max amount
      ₹998,223
      bHNI (Big HNI)
      > ₹10L
      Min lots
      70
      Min shares
      1610
      Min amount
      ₹1,012,690
      Max amount
      ₹1,085,025

      Shares reserved per category & allotment probability

      QIB
      100% allotment
      Reservation
      50%
      Amount
      ₹634.5 Cr
      Shares offered
      10,333,876
      Shares bid
      0
      Subscribed
      0.00x
      NII
      100% allotment
      Reservation
      15%
      Amount
      ₹190.35 Cr
      Shares offered
      3,100,163
      Shares bid
      0
      Subscribed
      0.00x
      Retail
      100% allotment
      Reservation
      35%
      Amount
      ₹444.15 Cr
      Shares offered
      7,233,713
      Shares bid
      0
      Subscribed
      0.00x

      Retail is a lottery-based allotment when oversubscribed; QIB/NII get pro-rata. Probability ≈ 1 / subscription times (100% if under-subscribed).