Azad Engineering IPO: Aerospace, Energy, and Defense Supplier Opens IPO on 20 December 2023

🚀 Azad Engineering IPO: All You Need to Know! 🚀

💰 Size of the IPO: The IPO of Azad Engineering, a supplier of aerospace, energy, and defense goods, has opened on 20th December. Investors can invest in the IPO until 22nd December. Notably, cricket legend Sachin Tendulkar has also invested in this company.

📊 Price Band: The IPO of Azad Engineering is worth ₹740 crores. Out of this, ₹240 crores worth of new shares will be issued, while the remaining ₹500 crores worth of shares will be offered for sale through the IPO. The company will sell a total of 14,122,138 shares in the IPO, with a price range set at ₹499-524 per share.

🗓️ Important Dates: The distribution of shares will take place on 26th December. Unsuccessful investors will receive their returns on 27th December. The shares will be transferred to demat accounts on 27th December. The listing of the shares will happen on 28th December, and they will be listed on both BSE and NSE.

📏 Allocation Breakdown: The IPO has reserved 50% of the shares for qualified institutional buyers, 15% for high net worth individuals, and 35% for retail investors. Investors can bid for a minimum of 28 shares.

💼 Utilization of IPO Funds: Azad Engineering will utilize the funds raised from the IPO for capital expenditure, loan repayments, and general corporate purposes. The company had a debt of ₹157.41 crores as of June 2023.

⬆️ Grey Market Performance: The company’s shares are witnessing a positive trend in the grey market. Currently, the shares have a grey market premium of ₹440. If this trend continues until listing, the shares could be listed at ₹964 per share, yielding a hefty profit margin of 83.97%.

🏢 About Azad Engineering: Azad Engineering supplies essential equipment to global manufacturers in the aerospace and defense, energy, and oil and gas industries. The company’s clients include General Electric, Honeywell International Inc., Mitsubishi Heavy Industries, Siemens Energy, and Eaton Aerospace.

So, investors, get ready to grab your shares in Azad Engineering’s IPO and be a part of their exciting journey in the aerospace, energy, and defense sectors! 📈💼

Disclaimer: This is News Coverage with Opinions of Experts and Should Not Be Taken as Direct Market Buying Tip. Market is always subject to risk. We recommend taking our content as research before investing.