Azad Engineering Limited IPO Detail
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.
Company Promoters
The promoter of the company is Rakesh ChopdaIPO Details
| IPO Opening Date | Dec 20, 2023 |
| IPO Closing Date | Dec 22, 2023 |
| Issue Type | Book Built Issue IPO |
| Face Value | ₹2 per equity share |
| IPO Price | ₹499 - 524 per equity share |
| Market Lot | 28 Shares |
| Min Order Quantity | 28 Shares |
| Listing At | BSE, NSE |
| Issue Size | ₹740.00 Cr |
| Fresh Issue | ₹240.00 Cr |
| Offer for Sale | ₹500.00 Cr |
| Retail Portion | 35% |
IPO Subscription (Bidding Detail)
| AS On | QIB | SHNI | BHNI | NII | RII | TOTAL |
|---|---|---|---|---|---|---|
| Day 1 | 0.05x | - | - | 6.34x | 4.11x | 3.45x |
| Day 2 | 1.53x | - | - | 24.33x | 11.68x | 11.54x |
| Day 3 | 179.64x | - | - | 90.24x | 24.51x | 83.04x |
IPO Tentative Timetable
The Azad Engineering Limited IPO open date is Dec 20, 2023, and the close date is Dec 22, 2023. The issue may list on Dec 28, 2023.
| IPO Open Date | Dec 20, 2023 |
| IPO Close Date | Dec 22, 2023 |
| Basis of Allotment Date | Dec 26, 2023 |
| Initiation of Refunds | Dec 27, 2023 |
| Credit of Shares to Demat Account | Dec 27, 2023 |
| IPO Listing Date | Dec 28, 2023 |
IPO Lot Size
The Azad Engineering Limited IPO market lot size is 28 shares. A retail-individual investor can apply for up to 13 lots (364 shares or ₹190736).
| Application | Lots | Shares | Amount (Cut-off) |
|---|---|---|---|
| Minimum | 1 | 28 | ₹14672 |
| Maximum | 13 | 364 | ₹190736 |
IPO Promoter Holding
| Pre Issue Share Holding | 78.61% |
| Post Issue Share Holding |
Company Financials:
For the year/period ended (₹ in Crore)
| Financial Year | Total Assets | Total Revenue | Profit After Tax |
|---|---|---|---|
| 30-Sep-23 | 636.63 | 169.54 | 26.89 |
| 31-Mar-23 | 589.21 | 261.52 | 8.47 |
| 31-Mar-22 | 404.32 | 199.26 | 29.46 |
Objects of the Issue:
The Net Proceeds of the Fresh Issue are proposed to be utilized in the following manner:
- Funding capital expenditure of the Company;
- Repayment/prepayment, in part or full, of certain of the borrowings availed by the Company; and
- General corporate purposes.
Azad Engineering Limited IPO Registrar:
KFin Technologies Limited
Azad Engineering Limited IPO Lead Manager(s):
Axis Capital Limited ICICI Securities Limited SBI Capital Markets Limited Anand Rathi Securities Limited
Company Contact Information:
Azad Engineering Limited
90/C, 90/D, Phase-1, I.D.A. Jeedimetla
Hyderabad
Hyderabad
