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 bidding opened for subscription on December 20, 2023 and will close 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.
Refer to Azad Engineering IPO RHP for detailed information.
About Azad Engineering Limited
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.
IPO allotment status checker
Azad Engineering IPO Details
| IPO Date | December 20, 2023 to December 22, 2023 |
| Listing Date | [.] |
| Face Value | ₹2 per share |
| Price Band | ₹499 to ₹524 per share |
| Lot Size | 28 Shares |
| 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) |
| Issue Type | Book Built Issue IPO |
| Listing At | BSE, NSE |
| Share holding pre issue | 54,532,842 |
| Share holding post issue | 59,112,995 |
Azad Engineering IPO Reservation
Azad Engineering IPO offers 14,045,773 shares. 2,809,155 (20.00%) to QIB, 2,106,866 (15.00%) to NII, 4,916,021 (35.00%) to RII and 4,213,731 (30.00%) to Anchor investors. 175,572 RIIs will receive minimum 28 shares and 1,791 (sNII) and 3,583 (bNII) will receive minimum 392 shares. (in case of oversubscription)
| Investor Category | Shares Offered | Maximum Allottees |
|---|---|---|
| Anchor Investor Shares Offered | 4,213,731 (30.00%) | NA |
| QIB Shares Offered | 2,809,155 (20.00%) | NA |
| NII (HNI) Shares Offered | 2,106,866 (15.00%) | |
| bNII > ₹10L | 1,404,577 (10.00%) | 3,583 |
| sNII < ₹10L | 702,289 (5.00%) | 1,791 |
| Retail Shares Offered | 4,916,021 (35.00%) | 175,572 |
| Total Shares Offered | 14,045,773 (100%) |
Azad Engineering IPO Anchor Investors Details
Azad Engineering IPO raises Rs 220.80 crore from anchor investors. Azad Engineering IPO Anchor bid date is December 19, 2023.
| Bid Date | December 19, 2023 |
| Shares Offered | 4,213,731 |
| Anchor Portion Size (In Cr.) | 220.80 |
| Anchor lock-in period end date for 50% shares (30 Days) | February 6, 2024 |
| Anchor lock-in period end date for remaining shares (90 Days) | April 30, 2024 |
Azad Engineering IPO Timeline (Tentative Schedule)
Azad Engineering IPO opens on December 20, 2023, and closes on December 22, 2023.
| IPO Open Date | Wednesday, December 20, 2023 |
| IPO Close Date | Friday, December 22, 2023 |
| Basis of Allotment | Tuesday, December 26, 2023 |
| Initiation of Refunds | Wednesday, December 27, 2023 |
| Credit of Shares to Demat | Wednesday, December 27, 2023 |
| Listing Date | Thursday, December 28, 2023 |
| Cut-off time for UPI mandate confirmation | 5 PM on December 22, 2023 |
Azad Engineering IPO Lot Size
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 |
Azad Engineering IPO Promoter Holding
The promoter of the company is Rakesh Chopda.
| Share Holding Pre Issue | 78.61% |
| Share Holding Post Issue | 56.38% |
Read Also : Happy Forgings Limited IPO (Happy Forgings IPO). It is worth it or not for invest?
