IPO Deliver

Azad Engineering IPO Dates, Price Band, Rating, GMP, Analysis, and Allotment Details

azad engineering logo

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:

  1. Capital expenditure of the company
  2. Prepayment or repayment in part or full of certain borrowing
  3. General corporate purposes and offer expenses.

#3. Azad Engineering Core Strengths 

  1. Supplying to OEMs with high global market penetration
  2. Long standing and deep customer relationships.
  3. Advance manufacturing facilities with wide range of products.
  4. 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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