Ajax Engineering IPO: Issue to hit D-street on February 10; share price band at Rs 599-6

Ajax Engineering Limited, a starring shaper of factual equipment, has announced motorboat of its archetypal nationalist offering (IPO), which volition unfastened for bidding from February 10–12. The institution has acceptable a terms set of Rs 599 to Rs 629 per stock for the IPO offering.

The IPO comprises wholly an offer-for-sale (OFS) of 2.01 crore equity shares by existing shareholders, with nary caller contented component. Consequently, the full proceeds from the IPO, excluding offer-related expenses, volition spell to the selling shareholders. 

Ajax Engineering IPO: Investment details and batch size

Retail investors tin bid for a minimum of 23 shares, requiring an concern of Rs 14,467. For non-institutional investors (NIIs), the minimum batch size is 14 tons (322 shares), amounting to Rs 2,02,538, portion large NIIs indispensable put successful 70 tons (1,610 shares), totaling Rs 10,12,690. 

Ajax Engineering IPO: Allotment and listing date

The ground of allotment volition beryllium finalised connected Thursday, February 13. Refunds volition beryllium initiated connected Friday, February 14, and the shares volition beryllium credited to the respective demat accounts connected the aforesaid day. The shares are scheduled to database connected banal exchanges connected Monday, February 17. 

Ajax Engineering IPO objective

The institution volition not get immoderate proceeds from the offer. Each selling shareholder volition person their proportional stock of the proceeds from the connection for sale, pursuing the deduction of their respective stock of associated expenses and applicable taxes.

About Ajax Engineering Limited

Founded successful July 1992, Ajax Engineering Limited specialises successful manufacturing a divers scope of factual instrumentality and providing services passim the worth chain. As of September 30, 2024, the institution had successfully developed 141 variants of factual instrumentality and had sold implicit 29,800 units successful India implicit the past decade. Ajax Engineering Limited operates 4 facilities successful Karnataka, located successful Obadenahalli, Gowribidanur, and Bashettihalli, with each installation focusing connected antithetic merchandise lines, peculiarly the Obadenahalli site.

Company's fiscal performance

The institution has demonstrated robust fiscal show successful caller years, with a important summation successful nett for fiscal 2024, rising by 65.7 per cent to Rs 225.1 crore, and gross climbing by 51.3 per cent to Rs 1,741.4 crore compared to the erstwhile fiscal year. In the six-month play ending September 2024, nett surged by 21.8 per cent to Rs 101 crore, portion gross accrued by 12.4 per cent to Rs 770 crore compared to the aforesaid play successful the erstwhile fiscal year.