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Deal: Trilegal advised on the Ajax Engineering IPO

20 Feb 2025

Trilegal advised on the Ajax Engineering IPO

Trilegal advised the book-running lead managers, ICICI Securities, Citigroup Global Markets India, JM Financial Limited, Nuvama Wealth Management, and SBI Capital Markets—on the initial public offering of Ajax Engineering, a leading concrete equipment manufacturer in India.

According to the Redseer Report, Ajax Engineering holds market leadership in self-loading concrete mixers in India and offers a comprehensive range of concrete equipment, services, and solutions across the concrete application value chain. The IPO was a pure offer for sale, enabling Kedaara Capital to divest its full stake in the company.

The Trilegal Capital Markets team advising on the mandate was led by Partners: Bhakta Patnaik and Albin Thomas; Senior Associate: Sowmya Khandelwal; and Associates: Bhoomi Sandesara, Tushar Chitlangia, Manasi Barve, and Snehal Kausha.

Media link:

Ajax Engineering IPO lists 6% lower on BSE, 8% on NSE – Business Standard report

About Trilegal

Trilegal is one of India’s leading law firms, with expertise across the full spectrum of corporate legal services. Trilegal has offices in four key cities of India.

Trilegal has been recognised as M&A Firm of the Year by IFLR Asia-Pacific 2024Best Overall Law Firms by India Business Law Journal (IBLJ) 2024Innovative Lawyers Asia-Pacific by Financial Times (FT) 2024Law Firm of the Year by Deal Volume by VCCircle Awards 2024; India Deal Firm of the Year by Asian Legal Business (ALB) India Law Awards 2023; Best Law Firms to Work by Vahura 2022Firm of the year for Client Service Excellence by Asia Law Awards 2021.

For more information, please get in touch with Prakruti Jani | Mob: +91-9867868976 | BD@trilegal-test.kwebmaker.co.in

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