Azad Engineering IPO: Azad Engineering Limited IPO Details

The Indian stock market is buzzing with anticipation as Azad Engineering Limited, a prominent manufacturer of aerospace components and turbines, prepares to go public with its Initial Public Offering (IPO). With a total issue size of ₹740.00 crores, this IPO combines a fresh issue of 4,580,153 shares, aggregating to ₹240.00 crores, and an offer for sale of 9,541,985 shares, aggregating to ₹500.00 crores. In this blog, we will delve into the details of the Azad Engineering Limited IPO, its financials, objectives, and what investors can expect.

Also See: Azad Engineering IPO GMP

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Azad Engineering IPO Details:

ParameterDetails
IPO NameAzad Engineering IPO
IPO DateDecember 20, 2023, to December 22, 2023
Basis of AllotmentTuesday, December 26, 2023
Listing DateThursday, December 28, 2023
Face Value₹2 per share
Price Band₹499 to ₹524 per share
Lot Size28 Shares
Total Issue Size14,122,138 shares (₹740.00 Cr)
Fresh Issue4,580,153 shares (₹240.00 Cr)
Offer for Sale9,541,985 shares (₹500.00 Cr)
Issue TypeBook Built Issue IPO
Listing AtBSE, NSE
Shareholding Pre-Issue54,532,842
Shareholding Post-Issue59,112,995

Also See: Upcoming IPO in India

Azad Engineering IPO Reservation:

  • QIB Shares Offered: Not more than 50% of the Net Issue
  • Retail Shares Offered: Not less than 35% of the Net Issue
  • NII (HNI) Shares Offered: Not less than 15% of the Net Issue

Azad Engineering IPO Lot Size:

ApplicationLotsSharesAmount
Retail (Min)128₹14,672
Retail (Max)13364₹190,736
S-HNI (Min)14392₹205,408
S-HNI (Max)681,904₹997,696
B-HNI (Min)691,932₹1,012,368

Also Read: IPO Subscription Status Live Today

Azad Engineering IPO Promoter Holding:

The promoter of Azad Engineering Limited is Rakesh Chopda, and the shareholding pre-issue stands at 78.61%.

Azad Engineering IPO Objectives:

The net proceeds from the fresh issue will be utilized for the following purposes:

  1. Funding capital expenditure of the Company.
  2. Repayment/prepayment, in part or full, of certain borrowings availed by the Company.
  3. General corporate purposes.

Also Read: What is IPO?: Benefits of Investing in an IPO

Azad Engineering Limited Financial Information:

As per available data, Azad Engineering Limited’s revenue increased by 31.24% while the profit after tax (PAT) decreased by -71.24% between the financial years ending on March 31, 2023, and March 31, 2022.

Period Ended30 Sep 202331 Mar 202331 Mar 202231 Mar 2021
Assets636.63589.21404.32256.05
Revenue169.54261.52199.26125.03
Profit After Tax26.898.4729.4611.50
Net Worth
Reserves and Surplus221.14202.51118.8889.42
Total Borrowing324.94300.60197.1887.71

Also Read: Azad Engineering IPO: Rs 740-crore Public Issue Opens on December 20

About Azad Engineering Limited:

Incorporated in 1983, Azad Engineering Limited is a renowned manufacturer of aerospace components and turbines. The company is a key supplier to original equipment manufacturers (OEMs) in industries such as aerospace, defense, energy, and oil and gas. Their products are highly specialized, mission-critical, and integral to various applications.

As of September 30, 2023, Azad Engineering Limited generated revenue of ₹1,142.92 million from the sale of blades for the energy industry. The company serves a global customer base, including clients in the USA, China, Europe, the Middle East, and Japan. The company operates four manufacturing facilities in Hyderabad, Telangana, with plans to expand further.

Azad Engineering IPO Registrar:

Azad Engineering IPO Lead Managers:

  • Axis Capital Limited
  • ICICI Securities Limited
  • SBI Capital Markets Limited
  • Anand Rathi Securities Limited

Azad Engineering IPO Timeline:

  • IPO Open Date: Wednesday, December 20, 2023
  • IPO Close Date: Friday, December 22, 2023
  • Basis of Allotment: Tuesday, December 26, 2023
  • Initiation of Refunds: Wednesday, December 27, 2023
  • Credit of Shares to Demat: Wednesday, December 27, 2023
  • Listing Date: Thursday, December 28, 2023
  • Cut-off time for UPI mandate confirmation: 5 PM on December 22, 2023

Conclusion:

The Azad Engineering Limited IPO presents an exciting investment opportunity in the aerospace and turbine manufacturing sector. Investors should carefully consider the company’s financial performance, growth prospects, and the broader market conditions before participating in this IPO. With its rich history and global reach, Azad Engineering Limited is poised to make waves in the industry, and this IPO could be a chance to become a part of its journey. As always, it is advisable to consult with financial experts and conduct thorough research before making any investment decisions.

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