Ajax engineering IPO Listing: Ajax engineering shares, which manufacture concrete -related equipment, got into the domestic market today. Its IPO received more than 6 times the overall. Shares have been issued at a price of Rs 629 under the IPO. Today it has entered BSE at Rs 593.00 and NSE at Rs 576.00, that is, IPO investors did not get any listing gains but their capital decreased by about 8 per cent. Currently, it is at Rs 586 on BSE, ie IPO investors are now 6.84 per cent losses. However, employees are in profit as they have received every stock at a discount of Rs 59.
Ajax Engineering IPO got good response
Ajax Engineering’s ₹ 1,269.35 crore IPO was opened from 10-12 February for subscription. This IPO received good response from investors and overall it was 6.06 times subscribed. It had a share reserved for qualified institutional buyers (QIB) 13.04 times, a share of non-institutional investors (NII) 6.46 times and retail investors were filled 1.94 times and 2.62 times the employee. Under this IPO, 2,01,80,446 shares with a face value of Rs 10 have been sold under the offer for sale window. No new shares have been released under the issue, that is, the company has not received money through IPO.
About Ajax Engineering
In July 1992, Ajax makes equipment related to engineering concrete. Its product portfolio has self-loading concrete mixers, batching plants, transit mixers, boom pumps, self-propelled boom pumps, slipper pavers and 3D concrete printers. According to data up to September 2024, it has developed 141 concrete equipment variants for value chain and has sold more than 29,800 units in ten years. Talking about the financial health of the company, it has been strongly strengthened.
In FY 2022, it made a net profit of Rs 66.21 crore, which jumped in the next financial year 2023 to Rs 135.9 crore and Rs 225.15 crore in FY 2024. During this period, the company’s revenue increased to Rs 1,780.07 crore annually from the compound rate (CAGR) of more than 51 per cent annually. Talking about the current financial year 2024-25, in the first half April-September 2024 it has received a net profit of Rs 101.02 crore and a revenue of Rs 794.16 crore.
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