Ajax Engineering IPO Set to Open Next Week
Bengaluru-based [[Ajax Engineering Ltd.]], a maker of concrete equipment, is going public! The company has announced the price band for its [[Initial Public Offering (IPO)]] at Rs 599-629 per share. The IPO will open for subscription on February 10 and close on February 12.
What’s on Offer?
Investors can bid for a minimum of 23 shares, and in multiples of 23 thereafter. This IPO is entirely an offer for sale of up to 2.01 crore equity shares. This means the company is not issuing any fresh shares, and the existing shareholders are selling their stake. The promoters selling their shares include Krishnaswamy Vijay, Kalyani Vijay, Jacob Jiten John, Jacob Hansen Family Trust, Susie John, and Kedaara Capital Fund II LLP.
Where will the shares be listed?
The equity shares are planned to be listed on both the Bombay Stock Exchange (BSE) and the National Stock Exchange of India Ltd (NSE).
What will the company receive?
Since this is an offer for sale, Ajax Engineering will not receive any money from this IPO. The proceeds will go to the selling shareholders.
Who’s managing the IPO?
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. is the registrar for the IPO.
About Ajax Engineering
Ajax Engineering is a leading manufacturer of concrete equipment. They have been around for 32 years. They boast a wide range of over 110 product variants catering to various needs in the concrete industry. Their products include self-loading concrete mixers, batching plants, transit mixers, boom pumps, and even 3D concrete printers!
Market Leader
Ajax Engineering is considered one of the top three largest self-loading concrete mixer (SLCM) manufacturers globally and holds a major share of the Indian market. This IPO is a big step for the company and is definitely creating buzz in the business news today. Keep an eye out for latest updates on this IPO. It will be interesting to see how the market reacts. This latest development is significant news for the construction and infrastructure sectors in India. With its diverse product portfolio and strong market presence, Ajax Engineering is well-positioned for future growth.
This IPO could be a good investment opportunity, so stay tuned for more business updates and market analysis.