Nuvama Wealth Management Ltd has successfully closed a transaction of INR 14,390 mn (EUR 164 mn) as the BRLM to Ajax Engineering on Pre-IPO & IPO issue. AJAX Engineering Limited, a leading concrete equipment manufacturer, offers a comprehensive range of concrete equipment, services, and solutions across the concrete application value chain. With over 110 equipment variants, it has sold 27,800+ units in India over the last 10 years. The company is among the top three global manufacturers of self-loading concrete mixers. Nuvama pushed the story aggressively through our distribution channel to ensure participation from HNI & Retail category. IPO was fully subscribed across categories, despite market volatility.
Advised in the sale of
Ajax Engineering
to