Free Equity Delivery
Flat ₹10 per Trade in Intraday & F&O
Azad Engineering IPO is a book build issue of ₹740.00 crores. The issue is a combination of fresh issue of 0.46 crore shares aggregating to ₹240.00 crores and offer for sale of 0.95 crore shares aggregating to ₹500.00 crores.
Azad Engineering IPO bidding started from Dec 20, 2023 and ended on Dec 22, 2023. The allotment for Azad Engineering IPO was finalized on Dec 26, 2023. The shares got listed on BSE, NSE on Dec 28, 2023.
Azad Engineering IPO price band is set at ₹524.00 per share . The lot size for an application is 28. The minimum amount of investment required by an retail is ₹13,972 (28 shares). The lot size investment for sNII is 14 lots (392 shares), amounting to ₹2,05,408, and for bNII, it is 69 lots (1,932 shares), amounting to ₹10,12,368.
The issue includes a reservation of up to 76,335 shares for employees offered at a discount of ₹0.00 to the issue price.
Axis Capital Ltd. is the book running lead manager and Kfin Technologies Ltd. is the registrar of 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 |
| Issue Price Band | ₹499 to ₹524 per share |
| Issue Price Final | ₹524 per share |
| Lot Size | 28 Shares |
| Sale Type | Fresh Capital-cum-Offer for Sale |
| Total Issue Size | 1,41,22,108 shares (aggregating up to ₹740.00 Cr) |
| Fresh Issue | 45,80,151 shares (aggregating up to ₹240.00 Cr) |
| Offer for Sale | 95,41,957 shares of ₹2 (aggregating up to ₹500.00 Cr) |
| Issue Type | Bookbuilding IPO |
| Listing At | BSE, NSE |
| Share Holding Post Issue | 5,91,12,995 shares |
Azad Engineering IPO offers total 1,41,22,108 shares. Out of which 70,22,886 (49.73%) allocated to QIB, 28,09,155 (19.89%) allocated to QIB, 21,06,866 (14.92%) allocated to NII, 49,16,021 (34.81%) allocated to RII and 42,13,731 (29.84%) allocated to Anchor investors.
| Investor Category | Shares Offered | Maximum Allottees |
|---|---|---|
| QIB Shares Offered | 70,22,886 (49.73%) | NA |
| − Anchor Investor Shares Offered | 42,13,731 (29.84%) | NA |
| − QIB (Ex. Anchor) Shares Offered | 28,09,155 (19.89%) | NA |
| NII (HNI) Shares Offered | 21,06,866 (14.92%) | NA |
| − bNII > ₹10L | 14,04,577 (9.95%) | 3,583 |
| − sNII < ₹10L | 7,02,289 (4.97%) | 1,791 |
| Retail Shares Offered | 49,16,021 (34.81%) | 1,75,572 |
| Employee Shares Offered | 76,335 (0.54%) | NA |
| Total Shares Offered | 1,41,22,108 (100.00%) |
| Application Category | Maximum Bidding Limits | Bidding at Cut-off Price Allowed |
|---|---|---|
| Only RII | Up to Rs 2 Lakhs | Yes |
| Only sNII | Rs 2 Lakhs to Rs 10 Lakhs | No |
| Only bNII | Rs 10 Lakhs to NII Reservation Portion | No |
| Only employee | Yes | |
| Employee + RII/NII |
|
Yes for Employee and RII/NII |
Azad Engineering IPO raises ₹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 | 42,13,731 |
| 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 | Wed, Dec 20, 2023 |
| IPO Close Date | Fri, Dec 22, 2023 |
| Tentative Allotment | Tue, Dec 26, 2023 |
| Initiation of Refunds | Wed, Dec 27, 2023 |
| Credit of Shares to Demat | Wed, Dec 27, 2023 |
| Tentative Listing Date | Thu, Dec 28, 2023 |
| Cut-off time for UPI mandate confirmation | 5 PM on Fri, Dec 22, 2023 |
Investors can bid for a minimum of 28 shares and in multiples thereof. The following table depicts the minimum and maximum investment by Individual Investors (Retail) and HNI in terms of shares and amount.
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (Min) | 1 | 28 | ₹14,672 |
| Retail (Max) | 13 | 364 | ₹1,90,736 |
| S-HNI (Min) | 14 | 392 | ₹2,05,408 |
| S-HNI (Max) | 68 | 1,904 | ₹9,97,696 |
| B-HNI (Min) | 69 | 1,932 | ₹10,12,368 |
Note : The value will be calculated using Equity Dilution = Share Holding Pre Issue - Share Holding Post Issue
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 |
| Total Income | 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 ₹3097.52 Cr.
| KPI | Values |
|---|---|
| ROE | 4.2% |
| ROCE | 12.99% |
| Debt/Equity | 1.47 |
| RoNW | 4.23% |
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...
| Listing Date | December 28, 2023 |
| BSE Script Code | 544061 |
| NSE Symbol | AZAD |
| ISIN | INE02IJ01035 |
| Final Issue Price | ₹524 per share |
| BSE Listing Group | B |
Azad Engineering Ltd.
90/C, 90/D, Phase-1,
I.D.A. Jeedimetla,
Hyderabad 500055
Hyderabad, Telangana
Phone: +91 40 2309 7007
Email: cs@azad.in
Website: https://www.azad.in/
Kfin Technologies Ltd.
Phone: 04067162222, 04079611000
Email: azad.ipo@kfintech.com
Website: https://ipostatus.kfintech.com/
Azad Engineering IPO is a main-board IPO of 1,41,22,108 equity shares of the face value of ₹2 aggregating up to ₹740.00 Crores. The issue is priced at ₹524 per share. The minimum order quantity is 28.
The IPO opens on December 20, 2023, and closes on December 22, 2023.
Kfin Technologies Ltd. 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, and the minimum amount required for application is ₹14,672.
You can apply in Azad Engineering IPO online using either UPI or ASBA as a 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 applying IPO online through Zerodha, Upstox, 5Paisa, Nuvama, 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.
The Azad Engineering IPO listing date is on Thursday, December 28, 2023.
Useful Articles
RHP