Ajax Engineering IPO listed @ Rs. 576

February 17, 2025 admin Leave a reply Post Comment

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What is the business of Ajax Engineering?

Ajax Engineering is a leading concrete equipment manufacturer with a comprehensive range of concrete equipment, services and solutions across the concrete application value chain. As of March 31, 2024, it has developed over 110 concrete equipment variants catering to the concrete application value chain, and over the last ten years, it has sold over 27,800 concrete equipment in India

 It is one of the three largest manufacturers of SLCMs in the world, with an approximately 75%, 77% and 86% market share in the SLCM market in India in terms of number of SLCMs sold during Financial Years 2024, 2023 and 2022, respectively. Moreover, during Financial Year 2024, 12% of the concrete production in India was through its SLCMs. It also continues to assist customers throughout the life of the equipment, and with that aim, it provides spare parts for the equipment sold by it and facilitate the provision of after-sales service by its dealers.

Infrastructure development is projected to propel the demand for mechanized concrete equipment in India and grow the industry from Rs.61 billion (US$731 million) for the Financial Year 2024 to Rs.178 billion (US$2,148 million) for the Financial Year 2029. The concrete equipment market in India, and in particular, the market for SLCMs, is experiencing significant growth on account of several factors, including an increase in cement consumption and an increase in public and private capital expenditure towards infrastructure, irrigation, housing and renewable power projects, leading to increased demand for construction materials and equipment.

In addition to its SLCM portfolio, it has a large and diverse range of non-SLCM equipment that cater to various aspects of the concrete production, transportation, placement and paving processes. Its non-SLCM product portfolio includes batching plants for concrete production, transit mixers for concrete transportation, boom pumps, concrete pumps, self-propelled boom pumps for concrete placement, and slip-form pavers. It has been steadily gaining market share in non-SLCMs, driven by its commitment to innovation and quality. Between Financial Years 2022 and 2024, its non-SLCM sales experienced a CAGR of 24.42%, reflecting its increasing presence in this market.

As of March 31, 2024, its dealer network comprised of 51 dealerships across 23 states in India, and it is accessible to its customers through 114 touchpoints, which comprise 51 dealer headquarters and 63 branches (of which, 34 also act as service centers) managed and operated by its dealers. This is the largest dealer network in terms of number of dealers and service touchpoints among leading concrete equipment manufacturing peers in India, as of March 31, 2024. In addition to its dealers in India, it has expanded its global reach with 25 dealers and distributors across South and Southeast Asia, the Middle East, and Africa, as of March 31, 2024.

For more information, click www.ajax-engg.com

Ajax Engineering IPO GMP, Particulars & Guidance

Ajax Engineering IPO Guidance by Paresh Gordhandas, CA & Research Analyst.

Ajax Engineering is a leading manufacturer of concrete equipment, offering a comprehensive range of solutions, services, and products across the entire concrete application value chain. As of March 31, 2024, the company has developed over 110 variants of concrete equipment, catering to diverse needs in the industry. Over the past decade, Ajax Engineering has sold more than 27,800 units of concrete equipment in India.

The company is recognized as one of the top three manufacturers of Self-Loading Concrete Mixers (SLCMs) globally, holding significant market shares in India. In terms of the number of SLCMs sold, Ajax Engineering accounted for approximately 75%, 77%, and 86% of the market share during the financial years 2024, 2023, and 2022, respectively.

The growth of infrastructure development is expected to drive the demand for mechanized concrete equipment in India, propelling the industry from INR 61 billion (USD 731 million) in FY 2024 to INR 178 billion (USD 2.148 billion) by FY 2029. This surge in demand is particularly notable in the concrete equipment market, with significant growth in the SLCM sector driven by various factors.

As of March 31, 2024, Ajax Engineering’s extensive dealer network spans 51 dealerships across 23 states in India. The company is supported by 114 customer touchpoints, including 51 dealer headquarters and 63 branches, of which 34 also serve as service centers. This network represents the largest number of dealers and service touchpoints among its leading peers in the Indian concrete equipment manufacturing industry. Furthermore, Ajax Engineering has expanded its international presence with 25 dealers and distributors across South and Southeast Asia, the Middle East, and Africa.

The company is raising Rs. 1,269.35 crores through its IPO, with Rs. 442.69 crores allocated to the retail portion. An additional Rs. 189.73 crores is reserved for HNI (high net-worth individual) investors. Given the absence of other major IPOs, there is an anticipated potential for significant oversubscription in the HNI category.

The shares are being offered at a reasonable valuation compared to its peers, offering potential for both listing gains and long-term returns. Apply with full force.

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Ajax Engineering IPO GMP

Ajax Engineering IPO GMP today details

Ajax Engineering IPO GMP today, Details, Guidance, Subscription Status, allotment