Ajax Engineering IPO: The basis of allotment of Ajax Engineering is out and investors can check the status of their application online. The latest grey market premium (GMP) signalled at subdued listing on BSE and NSE which will take place on February 17. The IPO had fully subscribed with strong demand across the investors category.
Ajax Engineering IPO Allotment:
Investors can check the status of applications on BSE, NSE, and the registrar of the company, Link Intime.
To Check Application Status At Link Intime, Click On The Link Below:
As per Investor Grain, Ajax Engineering IPO's last GMP is at Rs 0, last updated Feb 15th 2025 06:58 PM. With a price band of 629.00, Ajax Engineering IPO's estimated listing price is Rs 629 (cap price + today's GMP). The expected percentage gain/loss per share is 0.00%.
Ajax Engineering IPO Listing:
After the basis of allotment, the next step would be the initiation of refunds or credit of shares to the demat account which will be done on February 14. The listing is expected next week on February 17.
According to SBI Securities, the company is valued at FY24 P/E and EV/EBITDA multiple of 32.0x and 25.9x respectively based on the upper price band on the postissue capital. The company is the market leader in the self-loading concrete mixers segment holding approximately 86%/77%/75%/77% in FY22/FY23/FY24/1HFY25 respectively in terms of units sold. It possesses a robust dealer network of ~51 dealerships across India and has served over 19,000 customers as of 1HFY25. The company has delivered strong Revenue/EBITDA/PAT CAGR of 51.0%/ 74.5%/84.4% respectively in the period between FY22-FY24 and is debt-free.
Ajax Engineering Ltd. (Ajax) is a leading concrete equipment manufacturer offering a comprehensive range of concrete equipment, services & solutions across the value chain. As of Sep'24, the company has developed over 141 concrete equipment catering to the value chain. The company's product portfolio includes i) Self-loading concrete mixers (SLCM), ii) Batching plants, iii) Transit mixers, iv) Self-propelled boom pumps, v) Concrete slip-form pavers and vi) 3D concrete printer. Ajax's products are sold under the 'Argo' brand and utilize a variety of drum outputs (1.0 to 4.8 cubic meters per batch) which can cater to a wide range of industrial and infrastructure projects.
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