Ajax Engineering IPO
Company Overview
Founded in July 1992, Ajax Engineering Limited has emerged as a premier manufacturer of concrete equipment, catering to a wide range of construction needs. The company offers a diverse product portfolio, including self-loading concrete mixers, batching plants, transit mixers, boom pumps, slipform pavers, and even cutting-edge 3D concrete printers. With a strong reputation for quality and innovation, Ajax Engineering has become a trusted name in the industry.
Manufacturing Facilities
Ajax Engineering operates four advanced manufacturing facilities in Karnataka, strategically located in Obadenahalli, Gowribidanur, and Bashettihalli. Each facility specializes in different product categories, with the Obadenahalli unit serving as a key production hub. These state-of-the-art plants ensure high-quality manufacturing standards and efficient production processes.
Research and Development
Innovation is at the core of Ajax Engineering’s operations, supported by a dedicated research and development team. With 79 full-time engineers and designers, the R&D division accounts for approximately 16% of the total workforce as of September 30, 2024. The team focuses on enhancing product efficiency, durability, and sustainability, driving the company’s continuous evolution in the concrete equipment sector.
Sales and Distribution Network
Ajax Engineering has built a robust sales and distribution network to ensure seamless access to its products. The company has 51 dealerships across 23 states in India, providing 114 touchpoints for customers. Internationally, it has expanded its presence across South and Southeast Asia, the Middle East, and Africa through 25 dealers and distributors. With over 15,700 customers having purchased its concrete equipment and spare parts, Ajax Engineering continues to strengthen its market presence globally. Strengths
Ajax Engineering Limited dominates the fast-growing SLCM market with a strong market share. It offers a comprehensive range of concrete equipment and services, backed by in-house design, engineering, and technology-driven manufacturing. A robust supplier network, dealer-led distribution model, and diverse customer base ensure stability. The company benefits from an experienced management team and skilled workforce. Risks
Heavy reliance on self-loading concrete mixers makes revenue vulnerable to demand fluctuations. Seasonal sales variations, material price volatility, and supply chain issues pose financial risks. With manufacturing limited to Karnataka, regional disruptions could impact operations. Auditor report modifications and potential growth slowdowns may also affect long-term financial health. Ajax Engineering IPO: Key Details
IPO Dates: 10 to 12 February, 2025
Price Band : ₹599 to ₹629 per share
Lot Size: 23 shares
Total Issue size: ₹1269.35 Crores
Retail Quota: 35%
GMP: Nil (For Informational purposes only)
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