Ajax Engineering Pvt, an Indian concrete equipment maker backed by Kedaara Capital, is pondering an preliminary public offering that may maybe well perchance elevate Rs 20 billion ($240 million), folks conversant in the topic said.
Ajax Engineering is working with advisers to support prepare for an IPO in Mumbai within the fourth quarter, the people said, asking now not to be identified discussing non-public facts. A listing may maybe well perchance tag the firm at $1.2 billion, the people said, in conjunction with that it objectives to file a prospectus for the fragment sale by August.
Representatives for Ajax Engineering and Kedaara, which invested within the Bengaluru-based utterly mostly equipment manufacturer in 2019, didn’t acknowledge to requests for narrate.
Founded in 1992, Ajax Engineering makes equipment similar to concrete mixers, pumps and pavers for greater than 25,000 potentialities, in step with its net location. It has three vegetation in Karnataka in southern India.
