Latest Markets Business BEEPS Earnings Personal Finance

Ajax Engineering: Kedaara-Backed Concrete Mixer Maker Is Said To Plan IPO

Ajax Engineering Pvt, an Indian concrete equipment maker backed by Kedaara Capital, is considering an initial public offering that could raise 20 billion rupees ($240 million), people familiar with the matter said.

Baiju Kalesh
A concrete mixer unloads freshly mixed concrete onto a table at a warehouse. (Photographer: Carla Gottgens/Bloomberg)

(Bloomberg) -- Ajax Engineering Pvt, an Indian concrete equipment maker backed by Kedaara Capital, is considering an initial public offering that could raise 20 billion rupees ($240 million), people familiar with the matter said.

Ajax Engineering is working with advisers to help prepare for an IPO in Mumbai in the fourth quarter, the people said, asking not to be identified discussing private information. A listing could value the company at $1.2 billion, the people said, adding that it aims to file a prospectus for the share sale by August.

Representatives for Ajax Engineering and Kedaara, which invested in the Bengaluru-based equipment manufacturer in 2019, didn’t respond to requests for comment. 

Also Read: India Bankers Predict IPO Surge as Election Uncertainty Lifts

Founded in 1992, Ajax Engineering makes equipment such as concrete mixers, pumps and pavers for more than 25,000 customers, according to its website. It has three plants in Karnataka in southern India.  

More stories like this are available on bloomberg.com

©2024 Bloomberg L.P.

Watch LIVE TV, Get Stock Market Updates, Top Business, IPO and Latest News on NDTV Profit. Feel free to Add NDTV Profit as trusted source on Google.
GET REGULAR UPDATES
Add us to your Preferences
Set as your preferred source on Google
Beeps Img

OPEC Likely To Approve Another Output Hike For November

  • chevron-double-right OPEC+ is expected to raise oil output again in November following a 137,000-barrel-a-day hike in October
  • chevron-double-right The group is reviving 1.66 million barrels a day of halted output in monthly stages despite surplus warnings
  • chevron-double-right Brent futures have risen 3% this month despite the additional barrels added by OPEC+
More Beeps chevron-right

RECOMMENDED FOR YOU

Mid-Size Indian IT Companies Will Do Better Despite US Visa Uncertainty, Says Vikas Khemani
timelogo Sep 28, 2025
Activewear Maker TechnoSport To Invest Rs 200 Crore To Open 300 Exclusive Stores
timelogo Sep 14, 2025
New IPO: Plastic Bag Maker Knack Packaging Eyes Rs 475 Crore Fundraise Via Fresh Issue
timelogo Sep 05, 2025
Bain-Backed Indian Auto Parts Maker Is Said To Consider 2026 IPO
timelogo Jul 31, 2025

POPULAR

1
Asia Cup 2025 Final: Pakistan All-Out At 146 Runs After India Opt To Bowl First
2
Ports Minister Sonowal Expects India's Shipbuilding And Maritime Sector To Draw Rs 1.82 Lakh Crore Investment
3
India Opt To Bowl In Asia Cup Final Against Pakistan; Injured Hardik Misses Out
4
OPEC Likely To Approve Another Output Hike For November
5
India vs Pakistan Live Streaming: How To Watch IND vs PAK Asia Cup 2025 Final On TV And Online?
Google Badge