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Azad Engineering IPO is a book built issue of Rs 740.00 crores. The issue is a combination of fresh issue of 0.46 crore shares aggregating to Rs 240.00 crores and offer for sale of 0.95 crore shares aggregating to Rs 500.00 crores.
Azad Engineering IPO bidding started from December 20, 2023 and ended on December 22, 2023. The allotment for Azad Engineering IPO was finalized on Tuesday, December 26, 2023. The shares got listed on BSE, NSE on December 28, 2023.
Azad Engineering IPO price band is set at ₹499 to ₹524 per share. The minimum lot size for an application is 28 Shares. The minimum amount of investment required by retail investors is ₹14,672. The minimum lot size investment for sNII is 14 lots (392 shares), amounting to ₹205,408, and for bNII, it is 69 lots (1,932 shares), amounting to ₹1,012,368.
Axis Capital Limited, ICICI Securities Limited, SBI Capital Markets Limited and Anand Rathi Securities Limited are the book running lead managers of the Azad Engineering IPO, while Kfin Technologies Limited is the registrar for the issue.
Refer to Azad Engineering IPO RHP for detailed information.
| IPO Date | December 20, 2023 to December 22, 2023 |
| Listing Date | December 28, 2023 |
| Face Value | ₹2 per share |
| Price Band | ₹499 to ₹524 per share |
| Lot Size | 28 Shares |
| Total Issue Size | 14,122,138 shares (aggregating up to ₹740.00 Cr) |
| Fresh Issue | 4,580,153 shares (aggregating up to ₹240.00 Cr) |
| Offer for Sale | 9,541,985 shares of ₹2 (aggregating up to ₹500.00 Cr) |
| Issue Type | Book Built Issue IPO |
| Listing At | BSE, NSE |
| Share holding pre issue | 54,532,842 |
| Share holding post issue | 59,112,995 |
Azad Engineering IPO offers 14,045,773 shares. 2,809,155 (20.00%) to QIB, 2,106,866 (15.00%) to NII, 4,916,021 (35.00%) to RII and 4,213,731 (30.00%) to Anchor investors. 175,572 RIIs will receive minimum 28 shares and 1,791 (sNII) and 3,583 (bNII) will receive minimum 392 shares. (in case of oversubscription)
| Investor Category | Shares Offered | Maximum Allottees |
|---|---|---|
| Anchor Investor Shares Offered | 4,213,731 (30.00%) | NA |
| QIB Shares Offered | 2,809,155 (20.00%) | NA |
| NII (HNI) Shares Offered | 2,106,866 (15.00%) | |
| bNII > ₹10L | 1,404,577 (10.00%) | 3,583 |
| sNII < ₹10L | 702,289 (5.00%) | 1,791 |
| Retail Shares Offered | 4,916,021 (35.00%) | 175,572 |
| Total Shares Offered | 14,045,773 (100%) |
Azad Engineering IPO raises Rs 220.80 crore from anchor investors. Azad Engineering IPO Anchor bid date is December 19, 2023. Azad Engineering IPO Anchor Investors list
| Bid Date | December 19, 2023 |
| Shares Offered | 4,213,731 |
| Anchor Portion Size (In Cr.) | 220.80 |
| Anchor lock-in period end date for 50% shares (30 Days) | January 25, 2024 |
| Anchor lock-in period end date for remaining shares (90 Days) | March 25, 2024 |
Azad Engineering IPO opens on December 20, 2023, and closes on December 22, 2023.
| 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 |
Investors can bid for a minimum of 28 shares and in multiples thereof. The below table depicts the minimum and maximum investment by retail investors and HNI in terms of shares and amount.
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (Min) | 1 | 28 | ₹14,672 |
| Retail (Max) | 13 | 364 | ₹190,736 |
| S-HNI (Min) | 14 | 392 | ₹205,408 |
| S-HNI (Max) | 68 | 1,904 | ₹997,696 |
| B-HNI (Min) | 69 | 1,932 | ₹1,012,368 |
| Lot Size Calculator | |||
The promoter of the company is Rakesh Chopda.
| Share Holding Pre Issue | 78.61% |
| Share Holding Post Issue | 56.38% |
Incorporated in 1983, Azad Engineering Limited is a manufacturer of aerospace components and turbines. The company supplies its products to original equipment manufacturers (OEMs) in the aerospace, defense, energy, and oil and gas industries.
Azad Engineering's products are highly engineered, complex, mission-critical, and vital.
As of September 30, 2023, the company generated revenue of ₹1,142.92 million from the sale of blades for the energy industry. The company's customer base includes the USA, China, Europe, the Middle East and Japan.
The company has four manufacturing facilities in Hyderabad, Telangana, India. These facilities are capable of producing high-precision forged and machined components and have a total production area of around 20,000 square meters. The company is also planning to set up two more manufacturing units at Tuniki Bollaram village in Siddipet district, Telangana, and Mangampet village in Sangareddy district, Telangana. These plants will have a total production area of 94,898.78 and 74,866.84 square meters respectively.
Azad Engineering is headquartered in Hyderabad, Telangana, India, and employs 201-500 people.
Azad Engineering Limited's revenue increased by 31.24% and profit after tax (PAT) dropped by -71.24% between the financial year ending with March 31, 2023 and March 31, 2022.
| Period Ended | 30 Sep 2023 | 31 Mar 2023 | 31 Mar 2022 | 31 Mar 2021 |
| Assets | 636.63 | 589.21 | 404.32 | 256.05 |
| Revenue | 169.54 | 261.52 | 199.26 | 125.03 |
| Profit After Tax | 26.89 | 8.47 | 29.46 | 11.50 |
| Net Worth | ||||
| Reserves and Surplus | 221.14 | 202.51 | 118.88 | 89.42 |
| Total Borrowing | 324.94 | 300.60 | 197.18 | 87.71 |
| Amount in ₹ Crore | ||||
The market capitalization of Azad Engineering IPO is Rs 3097.52 Cr.
| KPI | Values |
|---|---|
| ROE | 4.2% |
| ROCE | 12.99% |
| Debt/Equity | 1.47 |
| RoNW | 4.23% |
| Pre IPO | Post IPO | |
|---|---|---|
| EPS (Rs) | 1.79 | |
| P/E (x) | 292.74 | 57.58 |
The Net Proceeds of the Fresh Issue are proposed to be utilized in the following manner:
[Dilip Davda] The company is a niche player in its segment and enjoys virtual monopoly. It posted steady growth in its top line for the reported periods. Drastic fall in bottom line for FY23 is attributed to one-time adjustments as per new accounting norms. Based on FY24 annualized earnings, the issue appears fully priced. Considering bright prospects, it’s a worthy bet. Investors may park funds for the medium to long-term rewards. Read detail review...
The Azad Engineering IPO is subscribed 83.04 times on December 22, 2023 7:02:00 PM. The public issue subscribed 24.51 times in the retail category, 179.64 times in the QIB category, and 90.24 times in the NII category. Check Day by Day Subscription Details (Live Status)
| Category | Subscription (times) |
|---|---|
| QIB | 179.64 |
| NII | 90.24 |
| bNII (bids above ₹10L) | 93.30 |
| sNII (bids below ₹10L) | 84.12 |
| Retail | 24.51 |
| Total | 83.04 |
Total Application : 3,940,409 (22.44 times)
| Listing Date | December 28, 2023 |
| BSE Script Code | 544061 |
| NSE Symbol | AZAD |
| ISIN | INE02IJ01035 |
| Final Issue Price | ₹524 per share |
| Price Details |
|---|
| Final Issue Price |
| Open |
| Low |
| High |
| Last Trade |
| BSE |
|---|
| ₹524.00 |
| ₹710.00 |
| ₹670.05 |
| ₹727.50 |
| ₹677.10 |
| NSE |
|---|
| ₹524.00 |
| ₹720.00 |
| ₹670.00 |
| ₹727.00 |
| ₹677.50 |
Azad Engineering Limited
90/C, 90/D, Phase-1,
I.D.A. Jeedimetla,
Hyderabad 500055
Phone: +91 40 2309 7007
Email: cs@azad.in
Website: https://www.azad.in/
Kfin Technologies Limited
Phone: 04067162222, 04079611000
Email: azad.ipo@kfintech.com
Website: https://kosmic.kfintech.com/ipostatus/
Azad Engineering IPO is a main-board IPO of 14,122,138 equity shares of the face value of ₹2 aggregating up to ₹740.00 Crores. The issue is priced at ₹499 to ₹524 per share. The minimum order quantity is 28 Shares.
The IPO opens on December 20, 2023, and closes on December 22, 2023.
Kfin Technologies Limited is the registrar for the IPO. The shares are proposed to be listed on BSE, NSE.
Zerodha customers can apply online in Azad Engineering IPO using UPI as a payment gateway. Zerodha customers can apply in Azad Engineering IPO by login into Zerodha Console (back office) and submitting an IPO application form.
Steps to apply in Azad Engineering IPO through Zerodha
Visit Zerodha IPO Application Process Review for more detail.
The Azad Engineering IPO opens on December 20, 2023 and closes on December 22, 2023.
Azad Engineering IPO lot size is 28 Shares, and the minimum amount required is ₹14,672.
You can apply in Azad Engineering IPO online using either UPI or ASBA as payment method. ASBA IPO application is available in the net banking of your bank account. UPI IPO application is offered by brokers who don't offer banking services. Read more detail about apply IPO online through Zerodha, Upstox, 5Paisa, Nuvama, ICICI Bank, HDFC Bank and SBI Bank.
The finalization of Basis of Allotment for Azad Engineering IPO will be done on Tuesday, December 26, 2023, and the allotted shares will be credited to your demat account by Wednesday, December 27, 2023. Check the Azad Engineering IPO allotment status.
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