Azad Engineering Limited is launching its IPO. The IPO opens for subscription on 20th December and will close on 22nd December 2023.
What does Azad Engineering do?
Having operational experience for 15 years and headquartered in Hyderabad, Azad Engineering Limited is a manufacturer of aerospace components and turbines and is one of the key manufacturers supplying to global original equipment manufacturers (OEMs) in the energy, aerospace, defense, and oil and gas industries, manufacturing highly engineered, complex and mission and life-critical components.
Their products include 3D rotating airfoil/ blade portions of turbine engines and other critical components for (a) gas, nuclear and thermal turbines used in industrial applications or energy generation, and (b) defense and civil aircrafts and spaceships.
It has supplied its products to countries such as the USA, China, Europe, the Middle East, and Japan since its inception.
What is the issue size of the Azad Engineering Limited IPO?
The 740 crore public offer of the company is a combination of a Fresh equity issue worth 240 crore and an offer for sale (OFS) worth Rs. 500 crore from the existing shareholders.
Financials of Azad Engineering Limited (₹ crores)
| Financial Year | Total Assets | Total Revenue | Profit After Tax | EBITDA | EPS |
|---|---|---|---|---|---|
| March 31, 2021 | 256.05 | 125.03 | 11.50 | 28.15 | 2.53 |
| March 31, 2022 | 404.32 | 199.26 | 29.46 | 62.27 | 6.49 |
| March 31, 2023 | 589.21 | 261.52 | 8.47 | 72.28 | 1.79 |
Schedule of Azad Engineering Limited IPO
| Issue Period | 20th December to 22nd December 2023 |
|---|---|
| Price band | ₹ 499 to 524 |
| Minimum Bid quantity | 28 & Multiples thereof |
| Deadline for accepting UPI mandate | Until 5 PM on the issue closing day |
| Finalization of Allotment | December 26, 2023 |
| Initiation of Refunds | December 27, 2023 |
| Credit of Shares | December 27, 2023 |
| Date of Listing | December 28, 2023 |
| Mandate end date | January 06, 2024 |
| Anchor Investors Lock-In End Date (50% of the investment) | January 26, 2024 |
| Anchor Investors Lock-In End Date (Remaining investment) | March 26, 2024 |
How to apply to the Azad Engineering Limited IPO?
You can apply for the Azad Engineering Limited IPO using any supported UPI app by following two steps:
- Enter your bid on Kite
- Accept the UPI mandate on your phone
On acceptance of the mandate, the bid amount will get blocked in your bank account. Click here to learn more.
How to check the allotment status for Azad Engineering Limited IPO?
You can check the allotment status for the Azad Engineering Limited IPO on the website of the Registrar and Transfer agent. Alternatively, you can also check the allotment status on the NSE website.