Ajax Engineering Ltd Share Price

History of Ajax Engineering Ltd

Ajax Engineering Limited was incorporated as Ajax Fiori Engineering (India) Private Limited' on July 3, 1992, at Bengaluru, Karnataka, as a Private Limited Company issued by the Registrar of Companies. Pursuant to Scheme of Arrangement, the Company name got changed from Ajax Fiori Engineering (India) Private Limited' to Ajax Engineering Private Limited' and a fresh Certificate of Incorporation was issued on March 15, 2019 by the RoC. Subsequently, the status of the Company converted to a Public Limited Company and the name got changed to Ajax Engineering Limited' dated September 23, 2024 issued by the Registrar of Companies, Central Processing Centre. The Company is in the business of manufacturing self-loading concrete mixers (SLCMs), concrete batching plants and concrete pumps, being ... used across various sectors. The concrete equipment is deployed across transportation projects such as roads, railway lines, underground tunnels, elevated tracks, flyovers and bridges, irrigation projects such as reservoirs, canals, check dams and aqueducts, and infrastructure projects involving landscaping, drainage and/or construction of airports, power plants, factories, oil and gas terminals, among others. In addition to SLCM portfolio, the Company has a large and diverse range of non-SLCM equipment that cater to various aspects of the concrete production, transportation, placement and paving processes. 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. The Company started developing the Self-Loading Concrete Mixer in India during the year 1992. In 2012, the Company inaugurated second plant at Doddaballapur, Karnataka to manufacture SLCMs; introduced the JSP concrete pump in 2013; established third facility in Gowribidanur, Karnataka, for assembly of concrete batching plants in 2014; established fourth facility in Doddaballapur, Karnataka for manufacturing SLCMs in 2018. Following the approval from National Company Law Tribunal, Bengaluru, the Scheme of Arrangement between the Company, Ajax Construtech Private Limited and Pre-merger AEPL, the various undertakings of Pre-merger AEPL and Ajax Construtech Private Limited got merged into the Company in May, 2018. As consideration for the said Demerger, the Company allotted 6.9161 Equity Shares of the Company for every 1 equity share held by the equity shareholders in Premerger AEPL; and five Equity Shares each of the Company to shareholders of Ajax Construtech Private Limited. Resulting this, the Scheme of Arrangement was given effect from April 1, 2018 and made operational from March 6, 2019. In 2019, the Company launched slip-form paver, the first indigenous paver designed and manufactured in India; launched Self Propelled Boom Pump' (SPBP) and in 2023, it launched 3D Concrete Printing Machine. The Company launched the Initial Public Offer by raising Rs 1268.88 Crore by allotting 20,180,446 equity shares of Re 1 each through offer for sale in February, 2025.