Azad Engineering Limited
IPO Details
Subscription
Lot Distribution
Reservation
Company Fin.
₹200(38.17%)
Premium (ELP)
Azad Engineering Limited's successfully completed its Initial Public Offering and commenced trading on Dec 28, 2023 at the NSE, BSE exchange. The company raised 1,41,22,138 Shares through this public offering, comprising 45,80,153 Shares in fresh capital and ₹500.00 Cr through the Offer for Sale mechanism.
The IPO was priced within the band of ₹499 to ₹524, with minimum application lots of 28 shares. The offering attracted significant investor interest during its subscription period from Dec 20, 2023 to Dec 22, 2023.
Share allotment was finalized on Dec 26, 2023, distributing equity to successful applicants. The stock's subsequent listing marked a significant milestone in the company's corporate history, providing public market liquidity to shareholders.
Investors can bid starting from the minimum lot size specified for this IPO, and only in multiples of that lot size. The table below shows the minimum and maximum investment for retail investors and HNIs in terms of lots, quantity, and amount.
Azad Engineering Limited manufactures high precision components and turbines mainly for aerospace, defense, energy, and oil and gas OEMs. Its products are complex, mission-critical and used in highly advanced applications. As of September 2023, the company earned ₹1,142.92 million from the sale of blades for the energy industry. Azad exports to multiple global markets including the USA, China, Europe, Middle East, and Japan. The company currently operates four manufacturing units in Hyderabad with a total area of around 20,000 square meters, and plans to set up two additional large facilities in Telangana. Azad Engineering is headquartered in Hyderabad and employs between 200 to 500 people.
Note : "Calculations for ‘Shares Offered’ and ‘Total Amount’ are based on the highest price in the issue price band."
NA
NA
- Rakesh Chopda
Azad Engineering Limited
Kfin Technologies Limited