Ajax Engineering IPO: Shares show signs of recovery after falling on listing

Ajax Engineering Ltd had its shares list at a discount on Monday, February 17, 2025, after its Initial Public Offering. The concrete equipment manufacturer's IPO was entirely an offer for sale which closed last week, receiving a healthy response from investors, with institutional investors subscribing 13 times and non-institutional investors subscribing six times. The company's product portfolio includes more than 141 concrete equipment variants and over the last ten years, it has sold over 29,800 concrete equipment units in India. It also introduced its patented self-propelled boom pump mounted on a 4x4 chassis in 2019, which is designed to combine mobility and flexibility for efficient concrete placement at varying heights and distances.