Azad Engineering Limited is gearing up for its IPO launch spanning from December 20th to December 22nd, 2023. This company specializes in crafting high-precision forged and machined components, catering specifically to the energy, aerospace, and defense sectors. The IPO comprises a fresh issue of 4,580,153 shares valued at Rs. 240 crore, coupled with an Offer-for-Sale (OFS) of 9,541,985 shares amounting to Rs. 500 crore, culminating in a comprehensive IPO size of Rs. 740 crore.
Scheduled for share allotment on December 26th, the IPO is set to debut on the stock exchanges on December 28th. The price band for each share ranges between Rs. 499 to Rs. 524, with a lot size of 28 shares.
Facilitating the IPO process, Axis Capital Limited, ICICI Securities Limited, SBI Capital Markets Limited, and Anand Rathi Advisors Limited serve as the book-running lead managers, while KFin Technologies Limited operates as the registrar.
Established in 1983, Azad Engineering Limited has emerged as a distinguished manufacturer specializing in aerospace components and turbines. Catering primarily to original equipment manufacturers (OEMs) within the aerospace, defense, energy, and oil and gas industries, the company has established a reputable presence within these sectors.
Azad Engineering's product line comprises highly engineered, complex, mission-critical components that play a vital role in various applications. Notably, as of September 30, 2023, the company attained a revenue milestone of Rs. 1,142.92 million from the sale of blades intended for the energy industry. Operating on a global scale, its customer base spans across key regions such as the USA, China, Europe, the Middle East, and Japan.
The company operates from four robust manufacturing facilities situated in Hyderabad, Telangana, India. These facilities boast the capability to produce high-precision forged and machined components across an expansive total production area of approximately 20,000 square meters. Additionally, Azad Engineering is in the process of expanding its manufacturing capabilities by planning the establishment of two new manufacturing units. These upcoming plants, located in Tuniki Bollaram village in Siddipet district and Mangampet village in Sangareddy district, both in Telangana, will collectively encompass a substantial production area of 94,898.78 and 74,866.84 square meters respectively.
Headquartered in Hyderabad, Telangana, India, Azad Engineering Limited currently employs a dedicated workforce of 201-500 individuals, driving its commitment to excellence and growth in the industry.
Azad Engineering Limited is gearing up for its IPO scheduled to be available for subscription from December 20th to December 22nd, 2023. Allocation of shares is set for December 26th, 2023, with the IPO slated for listing on the stock exchanges on December 28th, 2023.
IPO Opening Date: The IPO subscription for Azad Engineering Limited begins on Wednesday, December 20, 2023.
IPO Closing Date: Investors can subscribe to the IPO until Friday, December 22, 2023.
Basis of Allotment: The basis of allotment for the IPO will be determined on Tuesday, December 26, 2023.
Initiation of Refunds: Refunds for the IPO will be initiated starting Wednesday, December 27, 2023.
Credit of Shares to Demat: Share allotments will be credited to Demat accounts on Wednesday, December 27, 2023.
Listing Date: Azad Engineering Limited's IPO is set to be listed on Thursday, December 28, 2023.
Cut-off Time for UPI Mandate Confirmation: The deadline for confirming UPI mandates is 5 PM on December 22, 2023, ensuring timely processing for interested investors.
| IPO Date | 20th to 22nd December 2023 |
| Listing Date | 28th December 2023 |
| Lot Size | 28 Shares |
| Face Value | Rs. 2 per share |
| IPO Price Range | Rs. 499 to Rs. 524 per share |
| Total Issue Size | 14,122,138 shares (aggregating up to Rs. 740.00 Cr) |
| Fresh Issue | 4,580,153 shares (aggregating up to Rs. 240.00 Cr) |
| Offer for Sale | 9,541,985 shares of Rs. 2 (aggregating up to Rs. 500.00 Cr) |
| Issue Type | Book Built Issue IPO |
| Listing At | BSE and NSE |
| Share holding pre issue | 54,532,842 |
| Share holding post issue | 59,112,995 |
Azad Engineering Limited witnessed a notable surge of 31.24% in revenue, contrasted by a substantial decline of -71.24% in profit after tax (PAT) for the financial year concluding on March 31, 2023, compared to the figures reported for 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 Rs. Crore | ||||
What is Azad Engineering IPO?
The Azad Engineering IPO represents a main-board offering comprising 14,122,138 equity shares with a face value of Rs. 2, aggregating to Rs. 740.00 Crores. Priced between Rs. 499 to Rs. 524 per share, the minimum order quantity stands at 28 shares. This IPO is scheduled to open on December 20, 2023, and conclude on December 22, 2023.
When Azad Engineering IPO will open for apply?
The Azad Engineering IPO is scheduled to open for application on December 20, 2023.
What are the minimum lot size and investment needed for participating in the Azad Engineering IPO?
The Azad Engineering IPO mandates a minimum lot size of 28 shares, necessitating an investment totaling Rs. 13,972.
When is Azad Engineering IPO allotment date?
The allotment date for the Azad Engineering IPO is expected to be finalized on Tuesday, December 26, 2023.
What is the Azad Engineering IPO listing date?
The Azad Engineering IPO is anticipated to be listed on the BSE and NSE platform with a tentative listing date set for Thursday, December 28, 2023.
What is the price band of Azad Engineering IPO?
The price band for the Azad Engineering IPO is set between Rs. 499 to Rs. 524 per share.
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