Azad Engineering Limited IPO : Key Dates

Azad Engineering Limited IPO is set to launch on 20 December, 2023. The company initiated its business operations in 1983. The company is involved in the business of manufacturing Turbines and Aerospace components. It supplies its products to various industries like defence, aerospace, oil and gas and energy. The company exports its products to various countries like China, USA, Japan and the Middle East. Azad Engineering’s manufacturing unit is located in Hyderabad. In total the company has 4 facilities with an area 20000 sq. mtrs. The employee base of the company is from 201 to 500 people.

Azad Engineering Limited IPO DETAILS

Azad Engineering Limited IPO is set to launch on 20 December, 2023. The subscription timeline extends till 22 December, 2023. The size for the IPO is 740 Crore Rs. Shares issued through fresh issue mode are worth Rs 240 Crore. Shares issued through offer for sale mode are worth Rs 500 Crore. The lot size is 28 shares and the price is 499 Rs to 524 Rs per share. The company is going to get listed at both NSE and BSE. The face value per share is Rs. 2 and this is a Book Built issue. The registrar for the company is Kfin Technologies Limited.

Tabular Description of Azad Engineering Limited IPO 

Azad Engineering Limited IPO : IMPORTANT DATES

Azad Engineering Limited IPO begins for subscription from 20 December, 2023. The IPO subscription would continue till 22 December, 2023. The allotment status for the shareholders who applied would come on 26 December, 2023. The refunds for the ones who did not get allotment would be initiated on 27 December, 2023. The DEMAT accounts of shareholders would be credited on 27 December, 2023. The listing of the company would be completed on 28 December, 2023.

Azad Engineering Limited IPO : Lead Managers

The lead managers are :

• Axis Capital Limited
• Anand Rathi Securities Limited
• SBI Capital Markets Limited
• ICICI Securities Limited

The minimum lot size for the company is decided at 28 shares. This holding accounts to 14672 Rs.. The maximum lot size is decided at 364 shares. This amounts to 190736 Rs.. Hence the company’s final holdings would be set as :

OBJECTIVES FOR THE IPO

• IPO proceeds would be used for general corporate purposes.
• The company will use the IPO money for further working capital requirements.

COMPANY FINANCIALS

Azad Engineering Limited had an asset base of 256 Crore Rs in 2021 which increased to 404 Crore Rs in 2022 and 589 Crore Rs in 2023. The revenue of the company was 125 Crore Rs in 2021, 199 Crore Rs in 2022 and 261 Crore Rs in 2023. The profit of the firm was 11 Crore Rs in 2021 which increased to 29 Crore Rs in 2022. However in 2023 the profit of the company decreased to 8 Crore Rs.

PROS

• It supplies its products to various industries like defence, aerospace, oil and gas and energy. 
• The company exports its products to various countries like China, USA, Japan and the Middle East. 
• Azad Engineering’s manufacturing unit is located in Hyderabad. In total the company has 4 facilities with an area 20000 sq. mtrs. 
• The employee base of the company is from 201 to 500 people.

CONS

• The company works in a highly competitive segment.

Azad Engineering Limited IPO Application Process with Zerodha

It is very easy to apply for an IPO now if you have a DEMAT account with Zerodha. Follow the steps below for the same :

1. Logging into Zerodha console through its website or KITE platform. Clicking the IPO section present in the ORDER tab.
2. Click the Azad Engineering Limited IPO button and press the BID button.
3. Entering the details asked for like UPI ID, Quantity and price.
4. Submit the application form for the IPO.
5. Visiting the application of UPI for approving the transaction.

Now, applying for an IPO online is possible with most of the Discount and online brokers.