Concrete equipment manufacturer supported by Kedara Capital, raised more than Ajax Engineering, 379 crore from anchor investors before opening an initial share-selling for public membership.
According to a circular uploaded a circular uploaded on the BSE website, anchor investors allocating the shares to the anchor investors SBI Mutual Fund (MF), Axis MF, HSBC MF, Edelvis MF, ITI MF, Amundi Funds New Silk Road And Franklin is Templeton Investment Fund.
The company has allocated 60.3 lakh shares in 23 funds 629 per share, which is the upper end of the IPO price band. Therefore, it collects the size of the transaction 379.3 crore.
Early share sales of 1,269 crore for the company based in Bengaluru will open for public membership by 10 February. The price is set from the band On 599 629 per share.
Initial public offering of Ajax Engineering (IPO) There is a complete proposal of 2.01 crore shares-sell (OFS), which is at a price 1,269 crore at the top of the price limit by its promoters and an investor shareholder.
Kedara Capital 74.37 lakh shares will be closed as a part of its OFS.
AJAX engineering will not get any income from IPO as the public issue is completely offs.
At the upper end of the price band, the company’s market capitalization is given importance 7,200 crores.
Ajax Engineering There is a solid tool manufacturer that provides related tools, services and solutions. The company currently has four assembling and manufacturing facilities in Karnataka, each of which specializes in a separate product range. In addition to these units, an assembling and manufacturing facility in Adinarayanahoshalli, Karnataka is under construction and is expected to be operational in August 2025.
In FY24, the company reported revenue from operations 1,741 crore with a profit after tax (pat) 225 crores.
The lead lead managers for this issue are ICICI Securities, Citigroup Global Markets India, JM Financial, Nuwama Wealth Management and SBI Capital Markets.
