Mumbai: Bengaluru based concrete handling equipment maker Ajax Engineering announced Rs 1269 crore initial public offering in the price band of Rs 599 to Rs 629 per equity share of Rs 1 face value. The IPO opens on Feb.10 and closes on Feb. 12, 2025.Ajax Engineering public issue is entirely an offer for sale by promoters and investor selling shareholder Kedaara Capital.Established in 1992, Ajax makes self-loading concrete mixers and batching plants, transit mixers, boom pumps, concrete pumps and self-propelled boom pumps, slip-form pavers for the paving of concrete and 3D concrete printers for depositing concrete. Ajax is leading self-loading concrete mixers(SLCM) manufacturer in India with 75 per cent market share.Company operates four assembling and manufacturing facilities at Obadenahalli, Gowribidanur and Basethahalli in the state of Karnataka, each specializing in distinct product lines.Ajax is also exporting concrete handling equipments to South and Southeast Asia, the Middle East, and Africa.The company had zero debt and cash of Rs 700 crore has on its balance sheet.
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