Ajax Engineering Filed Draft Papers With SEBI To Float IPO

One of the leading concrete equipment manufacturers, Ajax Engineering Limited has submitted the draft red herring prospectus (DRHP) with the market regulator, the Securities and Exchange Board of India to float an initial public offering (IPO). Ajax Engineering IPO is entirely an offer-for-sale (OFS) of 2,28,81,718 equity shares of face value of ₹1 each.  

Ajax Engineering has appointed ICICI Securities Limited, Citigroup Global Markets India Private Limited, JM Financial Limited, Nuvama Wealth Management Limited and SBI Capital Markets Limited as the book-running lead managers of the Ajax Engineering IPO. In addition, Link Intime India Private Limited has been selected as the registrar for the issue.

Purpose of Ajax Engineering IPO

The company will not receive any proceeds of the Offer. Each of the Selling Shareholders will be entitled to the respective proportion of proceeds of the Offer for Sale after deducting its portion of the Offer-related expenses and the relevant taxes thereon.

About Ajax Engineering Limited

Incorporated in 1992, Ajax Engineering Limited is one of the leading concrete equipment manufacturers with a comprehensive range of concrete equipment, services and solutions

across the concrete application value chain. The company has developed over 110 concrete equipment variants catering to the concrete application value chain as of March 31, 2024. Over the last 10 years, it has sold over 27,800 concrete equipment in India.

The company’s concrete equipment has diverse use cases and is deployed across:

• Transportation projects such as roads, railway lines, underground tunnels, elevated tracks, flyovers and bridges,
• Irrigation projects such as reservoirs, canals, check dams and aqueducts, and
• Infrastructure projects involving landscaping, drainage and/or construction of airports, power plants, factories, and oil and gas terminals, among others.

Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. It is based on several secondary sources on the internet and is subject to changes. Please consult an expert before making related decisions.