The Azad Engineering IPO date has confirmed from December 20, 2023 and closes on December 22, 2023.
Using an IPO, Azad Engineering is seeking to raise Rs 740.00 crores. Its 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.
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Bidding Dates
December 20-22
Price Range
₹499 to ₹524 per share
Face Value
₹10 per share
GMP
₹375
Azad Engineering IPO GMP
The Azad Engineering Limited IPO GMP is ₹375.
IPO Overview
Azad Engineering IPO is a Rs 740.00 crore book-built issuance. The offering is a mix of a fresh issuance of Rs 240.00 crores and an offer for sale of Rs 500.00 crores. The Azad Engineering IPO goes on sale on December 20, 2023, and closes on December 22, 2023. The Azad Engineering IPO allotment is expected to be completed on Tuesday, December 26, 2023. Azad Engineering IPO will be listed on the BSE and NSE, with a tentative listing date of Thursday, December 28, 2023.
The pricing range for Azad Engineering’s IPO is $499 to $524 per share. An application requires a minimum lot size of 28 Shares. Retail investors must make a minimum investment of $14,672. The minimum lot size investment for sNII is 14 lots (392 shares), which amounts to 205,408, while the minimum lot size investment for bNII is 69 lots (1,932 shares), which amounts to 1,012,368. The sale of blades for the energy industry earned revenue of 1,142.92 million as of September 30, 2023. Customers include those from the United States, China, Europe, the Middle East, and Japan. Azad Engineering is based in Hyderabad, Telangana, India, and employs between 201 and 500 people.
Azad Engineering IPO Details
| IPO Date | December 20, 2023 to December 22, 2023 |
| Listing Date | [.] |
| Face Value | ₹2 per share |
| Price Band | ₹499 to ₹524 per share |
| Lot Size | 28 Shares |
| Total Issue Size | [.] shares (aggregating up to ₹740.00 Cr) |
| Fresh Issue | [.] shares (aggregating up to ₹240.00 Cr) |
| Offer for Sale | [.] 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 |
Azad Engineering Limited Financial Information
| 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 |
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 |
Company Profile
Azad Engineering Limited produces aeronautical components and turbines. Original equipment manufacturers (OEMs) in the aerospace, defence, energy, and oil and gas industries use the company’s products. The products of Azad Engineering are highly engineered, sophisticated, mission crucial, and vital. In Hyderabad, Telangana, India, the company operates four production plants. These facilities have a total production area of roughly 20,000 square metres and are capable of producing high precision forged and machined components. The company also
intends to establish two further production sites at Tuniki Bollaram village in Siddipet district, Telangana, and Mangampet village in Sangareddy district, Telangana. The overall production area of these plants will be 94,898.78 and 74,866.84 square metres, respectively.
Registrar Info
| Name | Kfin Technologies Limited |
| Phone number | 04067162222, 04079611000 |
| Email ID | azad.ipo@kfintech.com |
| Website | kosmic.kfintech.com |
Contact Details
| Name | Azad Engineering Limited |
| Phone number | +91 40 2309 7007 |
| Email ID | cs@azad.in |
| Website | azad.in |
IPO Strenghts
- Experienced promoters and a competent management team.
- Well-established relationships with a loyal customer base.
- Access to markets worldwide, enabling global reach.
IPO Weakness
- Heavy reliance on customers based in the United States.
- Need to adhere to multiple laws and regulations in these countries to ensure compliance.
- Competition from other players in the market.
