Azad Engineering IPO is a book built issue of Rs 740.00 crores. The issue is a combination of fresh issue of 0.46 crore shares aggregating to Rs 240.00 crores and offer for sale of 0.95 crore shares aggregating to Rs 500.00 crores.
Azad Engineering IPO opens for subscription on December 20, 2023 and closes on December 22, 2023. The allotment for the Azad Engineering IPO is expected to be finalized on Tuesday, December 26, 2023. Azad Engineering IPO will list on BSE, NSE with tentative listing date fixed as Thursday, December 28, 2023.
Azad Engineering IPO 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.
Axis Capital Limited, ICICI Securities Limited, SBI Capital Markets Limited and Anand Rathi Securities Limited are the book running lead managers of the Azad Engineering IPO, while Kfin Technologies Limited is the registrar for the issue.
| IPO Opening Date | December 20, 2023 |
|---|---|
| IPO Closing Date | December 22, 2023 |
| Issue Type | Book Built Issue IPO |
| Face Value | ₹2 per share |
| IPO Price | ₹499 to ₹524 per share |
| Market Lot | 28 Shares |
| Min Order Quantity | 28 Shares |
| Listing At | BSE, NSE |
| Total Issue Size | 14,122,138 shares (aggregating up to ₹740.00 Cr) |
| Fresh Issue | 4,580,153 shares (aggregating up to ₹240.00 Cr) |
| Offer for Sale | 9,541,985 shares of ₹2 (aggregating up to ₹500.00 Cr) |
| Share holding pre issue | 54,532,842 |
| Share holding post issue | 59,112,995 |
| QIB Shares Offered | Not more than 50% of the Net Issue |
| Retail Shares Offered | Not less than 35% of the Net Issue |
| NII (HNI) Shares Offered | Not less than 15% of the Net Issue |
Azad Engineering IPO opens on December 20, 2023, and closes on December 22, 2023.
| Basis of Allotment Date | December 26, 2023 |
|---|---|
| Initiation of Refunds | December 27, 2023 |
| Credit of Shares to Demat Account | December 27, 2023 |
| IPO Listing Date | December 28, 2023 |
Investors can bid for a minimum of 28 shares and in multiples thereof. The below table depicts the minimum and maximum investment by retail investors and HNI in terms of shares and amount.
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (Min) | 1 | 28 | ₹14,672 |
| Retail (Max) | 13 | 364 | ₹190,736 |
| S-HNI (Min) | 14 | 392 | ₹205,408 |
| S-HNI (Max) | 68 | 1,904 | ₹997,696 |
| B-HNI (Min) | 69 | 1,932 | ₹1,012,368 |
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.
The Net Proceeds of the Fresh Issue are proposed to be utilized in the following manner:
Azad Engineering IPO is a main-board IPO of 14,122,138 equity shares of the face value of ₹2 aggregating up to ₹740.00 Crores. The issue is priced at ₹499 to ₹524 per share. The minimum order quantity is 28 Shares.
The IPO opens on December 20, 2023, and closes on December 22, 2023. Kfin Technologies Limited is the registrar for the IPO. The shares are proposed to be listed on BSE, NSE.
The Azad Engineering IPO opens on December 20, 2023 and closes on December 22, 2023.
Azad Engineering IPO lot size is 28 Shares, and the minimum amount required is ₹14,672.
You can apply in Azad Engineering IPO online using either UPI or ASBA as 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.
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 IPO allotment status.
The Azad Engineering IPO listing date is December 28, 2023.
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