The initial public offering (IPO) of Azad Engineering will open for subscription on December 18 and close on December 20, is a fresh issue and offer for sale (OFS) of Rs. 960 crore from the primary market. An investor can apply for the issue for a minimum of 51 shares and in multiples after that.
#1. Quick intro of Azad Engineering
Azad Engineering is engaged in the business of manufacturing qualified product lines supplying to global original equipment manufacturers in the aerospace, defence, energy, oil, and gas industries, manufacture of highly engineered, complex, and life-critical components. Honeywell International Inc. Siemens Energy, Eaton Aerospace, MAN Energy Solution, etc. are the key customers of the company.
Check out the IPO allotment status on IPO Deliver.
#2. IPO Object of Azad Engineering
The company intends to use the IPO Funds for the below-mentioned purposes:
- Capital expenditure of the company
- Prepayment or repayment in part or full of certain borrowing
- General corporate purposes and offer expenses.
#3. Azad Engineering Core Strengths
- Supplying to OEMs with high global market penetration
- Long standing and deep customer relationships.
- Advance manufacturing facilities with wide range of products.
- Consistent track record of financial performance.
#4. Azad Engineering IPO Review & Rating
| Issue Size | Rs. 740 Crore |
| Issue Price | Rs. 499-525 per share |
| Minimum Lot Size | 28 Shares |
| Total Profit (March 2023) | Rs. 26.89 Crore |
| P/E (x) | 292.74% |
| ROCE | 12.99% |
| Listing on | NSE and BSE |
| IPO Deliver Rating | Six |
#5. Azad Engineering IPO Dates, Price Band & Details
Azad Engineering IPO will open on December 20, 2023, and close on December 22, 2023. The IPO list on December 27, 2023.
| Type of issue | Fixed Price Issue IPO |
| Issue Size | Rs. 740 Crore |
| Price Brand | Rs. 499-524 |
| Face Value | Rs. 02/- per share |
| IPO Open Date | December 20, 2023 |
| IPO Close Date | December 22, 2023 |
| IPO Allotment Date | December 26, 2023 |
| Refund Date | December 27, 2023 |
| Share Credit Date | December 27, 2023 |
| Listing Date | December 28, 2023 |
#6. Azad Engineering IPO Offer Details
Azad Engineering IPO’s total issue size is – shares, comprising the below-mentioned categories.
| Offer Category | Shares Offer | Amount (Crore) |
| Fresh Issue | – | 240 |
| Offer for Sale (OFS) | – | 500 |
#7. Azad Engineering Financials Overview(million)
The following table sets forth the summary of financial information of the company for the financial year ending March 31, 2023, 2022, and 2021.
| Category (Rs.) | March 31, 2023 | March 31, 2022 | March 31, 2021 |
| Total Revenue | 2,615.21 | 1,992.63 | 1,250.30 |
| Net Worth | 2,000.88 | 1,161.07 | 908.02 |
| Profit | 84.73 | 294.57 | 115.00 |
| Total Borrowings | 3,006.01 | 1,971.80 | 877.13 |
#8. Azad EngineeringQuantitative Factors
The following table sets forth the summary of financial information of the company for the financial year ending March 31, 2023, 2022, and 2021.
| Category | March 31, 2023 | March 31, 2022 | March 31, 2021 |
| EPS (Rs.) | 2.53 | 6.49 | 1.79 |
| RoNW (%) | 12.65 | 25.37 | 4.23 |
| NAV (Rs.) | 42.30 | 25.58 | 20.02 |
#9. Azad Engineering Comparison with Other Peer Companies (Top 2)
Comparison with the other same segment listed companies in India.
| Company Names | EPS (Rs.) | RoNW (%) | NAV (Rs.) |
| Dynamatic Tech | 67.32 | 7.93 | 79.47 |
| Triveni Turbine | 5.97 | 25.47 | 25.83 |
#10. Azad Engineering Company Promoters
As per the DRHP and RHP, the company has one Promoter.
| Serial No. | Name |
| 01. | Rakesh Chopdar |
#11. Azad Engineering Pre-offer and Post-Offer Promoters Shareholding
| Promoters Holding | Percentage (%) |
| Pre-issue | 78.61 |
| Post-issue | – |
#12. Azad Engineering IPO Reservation Details
Azad Engineering IPO total reservation shares are distributed between the below-mentioned categories.
| Category | Share Offered |
| Qualified Institutional Buyers (QIB) | Not more than 50% of the issue size |
| Retail Individual Investor (RII) | Not less than 35% of the issue size |
| Non-Institutional Investor (NII)/ HNI | Not less than 15% of the issue size |
| Employee Reservation/Discount | N/A |
#13. Azad Engineering IPO – Lot Size
An investor can apply for a minimum of 28 Shares in multiple thereof. Market lot sizes for the retail individual investors and non-institutional investor (NII)/ HNI investors are as follows:
| Application | Lot Size | No. of Shares | Amount (Rs.) |
| Retail (Min.) | 1 | 28 | 14,672 |
| Retail (Max.) | 13 | 364 | 1,90,736 |
| HNI (Min.) | 14 | 392 | 2,05,408 |
| HNI (Max.) | 68 | 1,904 | 9,97,696 |
#14. Azad Engineering IPO – Prospectus Copy
An investor can download/view the Azad Engineering prospectus copy, which the company filed to SEBI, details are as follows.
| Azad Engineering IPO Prospectus |
| Draft Red Herring Prospectus (DRHP) |
| Red Herring Prospectus (RHP) |
#15. Azad Engineering IPO Registrar
Kfin Technologies Limited
Tel: +91-22 4047 7120
E-Mail: azad.ipo@kfintech.com
Website: www.kfintech.com
#16. Azad Engineering IPO Lead Manager
#1 Axix Capital Limited
E-Mail: azad.ipo@axixcap.in
Website: www.axixcap.in
#2. SBI Capital Market Limited
E-Mail: azad.ipo@sbicaps.com
Website: www.sbicaps.com
#3. ICICI Securities Limited
E-Mail: azad.ipo@icicisecuritites.com
Website: www.icicisecuritites.com
#4. Anand Rathi Advisors Limited
E-Mail: ael.ipo@rathi.com
Website: www.rathi.com
#17. Azad Engineering IPO Application (How to Apply for an IPO)
There are three primary options for applying for an Azad Engineering IPO, details are as follows:
Option-1 Apply for IPO through Internet Banking
Step-1. Log into your bank account.
Step-2. In the invest Tab, you will see ASBA, click on it.
Step-3. Choose to apply for IPO and select the ongoing IPO “Azad Engineering Limited”
Step-4. Enter the basic details like bid quantity, price, PAN, etc. then proceed with payment.
Step-5. After the above steps, the respective amount will get blocked until the allotment date, and after that, it will get a refund/debited in case of rejection/allotment respectively.
Option-2 Apply for IPO through a Broker firm
Step-1. Log into your broker account (e.g. Upstox/Zerodha etc.)
Step-2. Click on the IPO tab and select the ongoing IPO “Azad Engineering Limited”
Step-3. Enter the basic details like bid quantity, price, PAN, etc. then enter UPI ID and proceed with payment.
Step-4. Your funds will get blocked, and once shares have been allotted to you, the respective amount will get debited from your account or refunded in case no allotment is made to you.
Option-3 Apply for IPO Offline Mode Bank mode
Step-1. Visit the nearest branch of your bank.
Step-2. Fill out the ASBA form and submit it with KYC details.
Step-3. Your funds will get blocked, and once shares have been allotted to you, the respective amount will get debited from your bank account or refunded in case no allotment is made to you.
#18. Azad Engineering Company Details
Azad Engineering Limited (1983)
Registered Office: 90/C, 90/D, I.D.A. Jeedimetla, Hyderabad – 500055, Telangana
Tel: +91 40 2309 7007
Email: cs@adaz.in
Website: www.azad.in
Investor Grievances/Compliance Officer: Ful Kumar Gautam
#19. Azad Engineering Subsidiary Companies (Top 2)
| Serial No. | Name of Companies |
| 01. | – |
| 02. | – |
#20. Azad Engineering Company Board (Top 2)
| Serial No. | Name of Directors |
| 01. | Rakesh Chopdar |
| 02. | Jyoti Chopdar |
Azad Engineering IPO – Frequently Asked Questions (FAQs)
| #1. What is Azad Engineering IPO?
Azad Engineering brings its IPO of Rs. 740 crores, on December 20, 2023, with a price band of Rs. 499-524 per share. |
| #2. What is the Azad Engineering IPO Open date?
Azad Engineering IPO’s opening date is December 20, 2023. |
| #3. What is the Azad Engineering IPO Close Date?
Azad Engineering IPO’s closing date is December 22, 2023. |
| #4. What is the Azad Engineering IPO Listing date?
Azad Engineering IPO listing date is December 28, 2023. |
| #5. What is the Azad Engineering IPO Minimum investment amount?
Azad Engineering IPO minimum investment amount is Rs. 14,672. |
| #6. What is the Azad Engineering IPO offer issue Size?
Azad Engineering offers an issue size of Rs. 740 crores. |
| #7. What is the Azad Engineering IPO Price Band?
Azad Engineering IPO price band is Rs. 499-524 per share. |
| #8. Is Azad Engineering IPO mainboard IPO or SME IPO?
Azad Engineering IPO is a Mainboard IPO. |
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