Ajax Engineering, a key player in the concrete equipment industry, has announced its initial public offering (IPO) with a price band of Rs 599-629 per share, aiming to raise Rs 1,269 crore through an offer-for-sale (OFS) of 2.01 crore shares. The IPO, opening for public subscription from February 10 to 12, will allow anchor investors to bid starting February 7. As an OFS, Ajax Engineering will not receive any proceeds from the sale.

Headquartered in Bengaluru, Ajax operates four advanced manufacturing facilities in Karnataka and is set to expand further with plans for a new plant by 2025. The company reported strong financial results for FY24, with a revenue of Rs 1,741 crore and a profit after tax of Rs 225 crore.