Azad Engineering IPO Details | GMP, Date, Price, Review

Azad Engineering IPO

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Azad Engineering IPO Details ( Azad Engineering Limited IPO Review )

(20 Dec 2023 – 22 Dec 2023)

Founded in 1983, Azad Engineering Limited makes important parts for aerospace and turbines. They sell these to companies that build things like airplanes, defense systems, and power plants.

The stuff Azad Engineering makes is highly engineered, complex, mission-critical, and vital.

By September 30, 2023, they earned ₹1,142.92 million by selling special blades for the energy industry. Their customers are in the USA, China, Europe, the Middle East, and Japan.

Azad Engineering has four big factories in Hyderabad, Telangana, India. These places can make really precise parts and take up a total space of about 20,000 square meters. Also, they’re thinking about starting two more factories in Tuniki Bollaram village and Mangampet village, both in Telangana. These new places will be huge, with a total space of 94,898.78 and 74,866.84 square meters.

  1. Unit 1: Pashamylaram Industrial Park: Precision forging, heat treatment, testing lab, special processes and raw material warehouse.
  2. Unit 2: Phase – I, Jeedimetla Industrial Development Area: Corporate office and main manufacturing facility with support functions.
  3. Unit 3: Phase – V, Jeedimetla Industrial Development Area: Manufacturing facility with support functions.
  4. Unit 4: Phase – I, Jeedimetla Industrial Park – Jeedimetla Industrial Estate: Manufacturing facility with support functions.

The main office of Azad Engineering is in Hyderabad, Telangana, India. They have between 201 and 500 people working for them.

Azad Engineering Limited Company Product

  1. Airfoils/ blades;
  2. Unison rings and lever arms;
  3. Impeller, blisk, stator and rotor;
  4. Flight control systems;
  5. Casings and housings;
  6. Critical engine sub-systems/ systems;
  7. Special machining parts;
  8. APUs sub-systems/ systems;
  9. Fasteners (end two flange (“ETF”), interior two flange (“ITF”) and specialty);
  10. Diaphragms and nozzles;
  11. Drill bits;
  12. Slips and rings;
  13. Shafts and frames; and
  14. Combined pneumatic and hydraulic systems

Azad Engineering Limited IPO Competitive Strength

  • Engineered for success and a preferred name in the manufacturing of highly engineered, complex and mission and life-critical high precision components for global OEMs despite growing competition from China, Europe, USA and Japan.
  • Supplying to OEMs with high global market penetration.
  • Long-standing and deep customer relationships.
  • Advanced manufacturing facilities with a diverse range of products and solutions with focus on innovation and cost competitiveness.
  • Consistent track record of financial performance.
  • Experienced Promoter and management team backed by marquee investors.

Azad Engineering IPO Financials Performance ( Results )

Azad Engineering Limited Financial Information (Restated Consolidated)

All Amount in ₹ Crores

Period EndedTotal AssetsTotal RevenuePATEPS

Objective of Azad Engineering IPO Issue

  • Funding capital expenditure of the Company;
  • Repayment/prepayment, in part or full, of certain of the borrowings availed by the Company; and
  • General corporate purposes.

Azad Engineering IPO Basic Details

IPO DateDec 20, 2023 to Dec 22, 2023
Listing DateThursday, December 28, 2023
Face Value₹2 per share
Price₹499 to ₹524 per share
Lot Size28 Shares
Issue Size14,122,138 shares of ₹2
(aggregating up to ₹740.00 Cr)
Fresh Issue4,580,153 shares of ₹2
(aggregating up to ₹240.00 Cr)
Offer for Sale9,541,985 shares of ₹2
(aggregating up to ₹500.00 Cr)
Issue TypeBook Built Issue IPO
Listing AtNSE, BSE
Share holding pre issue54,532,842
Share holding post issue59,112,995
Company PromotersRakesh Chopda

Azad Engineering IPO Reservation

Anchor Investor Shares Offered30% of the Net Issue
QIB Shares Offered20% of the Net Issue
NII (HNI) Shares Offered15% of the Net Issue
Retail Shares Offered35% of the Net Issue
Total Shares Offered100% of the Net Issue

Azad IPO Timetable

Azad IPO will open on December 20, 2023 and close on December 22, 2023. You can join Azad IPO at 10.00 A.M. to 5.00 p.m. Upto which mandate can be applied.

Opening Date20 December 2023 (Wednesday)
Closing Date22 December 2023 (Friday)
Basis of Allotment26 December 2023 (Tuesday)
Initiation of Refunds27 December 2023 (Wednesday)
Credit of Shares to Demat27 December 2023 (Wednesday)
Listing Date28 December 2023 (Thursday)
Deadline for UPI mandate confirmation5 PM on 22 December 2023

Azad IPO Lot Size

For retail investors in Azad IPO, 28 shares will come in 1 lot or the minimum investment will be ₹14,672. Retail-individual investors can apply for up to 1 lots or the maximum investment will be ₹000,000.

Retail (Min)128₹14,672
Retail (Max)13364₹190,736
S-HNI (Min)14392₹205,408
S-HNI (Max)681,904₹997,696
B-HNI (Min)691,932₹1,012,368

Azad Engineering IPO Promoter Holding

The company’s promoters include Rakesh Chopda.

Pre Issue Share Holding78.61%
Post Issue Share Holding56.38%

Azad Engineering Ltd IPO Key Performance Indicator ( Valuation )

In the table given below, all the figures have been told according to the latest financial year.

Market Cap (₹ Cr.)3097.52
Earning Per Share (EPS)₹1.79 per Equity Share
Net Asset Value (NAV)₹42.30 per Equity Share
P/E Ratio (P/E) (x)292.74
Post P/E Ratio (P/E) (x)57.58
Return on Net Worth (RoNW) (%)4.23
Return on equity (ROE) (%)4.20
Return on Capital Employed (ROCE) (%)12.99
Debt/Equity Ratio1.47

Azad Engineering Ltd Peer Comparison

Company NameConsolidated/
Azad Engineering LimitedConsolidated2.001.7957.584.2342.30
Peer Group
MTAR Technologies
Paras Defence and Space
Technologies Limited
Dynamatic Technologies
Triveni Turbine LimitedConsolidated1.005.9775.6425.4723.83

Azad Engineering IPO GMP Live Update, Kostak Rate day by day

DateGMPKostakSubject to
21 December 2023₹440
20 December 2023₹495

Azad Engineering IPO Detail Video:

Azad Engineering IPO Subscription Status (Bidding Detail)

The Azad Engineering IPO on December 22, 2023 at 7:30:00 PM was subscribed 83.04 times, with the retail category being subscribed 24.51 times, the NII (Non-Institutional Investor) category being subscribed 90.24 times, QIB (Qualified-Institutional Buyers) category being subscribed 179.64 times.


Azad Engineering IPO Prospectus

Azad Engineering IPO DRHPDownload
Azad Engineering IPO RHPDownload
Azad Engineering IPO Anchor Investors Details PDFDownload

Azad Engineering IPO Rating

Our Rating4.0/5.0

Azad Engineering Company Contact Information

Azad Engineering Limited

Azad Engineering Limited

Registered and Corporate Office: 90/C, 90/D, Phase-1, I.D.A. Jeedimetla, Hyderabad 500 055, Telangana, India
Contact Person: Ful Kumar Gautam, Company Secretary and Compliance Officer
Telephone: +91 40 2309 7007
Corporate Identity Number: U74210TG1983PLC004132
The Promoter of Our Company is Rakesh Chopdar

Azad Engineering IPO Registrar

KFin Technologies Limited

(formerly known as Kfin Technologies Private Limited)
Registered Office: Selenium Tower B, Plot No. 31 and 32, Financial District, Nanakramguda
Serilingampally Hyderabad, Rangareddi 500 032, Telangana, India
Tel: +91 40 6716 2222
Investor grievance ID:
Contact person: M. Murali Krishna
SEBI registration number: INR000000221

Azad Engineering IPO Lead Manager

Axis Capital Limited

Registered Office: 1st Floor, Axis House C-2 Wadia International Centre Pandurang Budhkar Marg
Worli, Mumbai 400 025, Maharashtra, India
Tel: +91 22 4325 2183
Investor grievance ID:
Contact person: Pratik Pednekar
SEBI registration number: INM000012029

ICICI Securities Limited

Registered Office: ICICI Venture House Appasaheb Marathe Marg, Prabhadevi, Mumbai 400 025
Maharashtra, India
Tel: +91 22 6807 7100
Investor grievance ID:
Contact person: Ashik Joisar/ Harsh Thakkar
SEBI registration number: INM000011179

SBI Capital Markets Limited

Registered Office: 1501, 15th Floor, A & B Wing Parinee Crescenzo, G Block Bandra Kurla Complex, Bandra (East), Mumbai 400 051, Maharashtra, India
Tel: +91 22 4006 9807
Investor grievance ID:
Contact person: Vaibhav Shah
SEBI registration number: INM000003531

Anand Rathi Advisors Limited

Registered Office: 11th Floor, Times Tower Kamla Mills Compound Senapati Bapat Marg, Lower Parel, Mumbai 400 013, Maharashtra, India
Tel: +91 22 4047 7120
Investor grievance ID:
Contact person: Pari Vaya/ Arpan Tandon
SEBI registration number: INM000010478

Azad Engineering IPO FAQs

What is the lot size of Azad Engineering IPO?

The total size of Azad Engineering IPO is ₹700.00 crores out of which ₹240.00 crores is fresh issue and ₹500.00 crores is offer for sale (OFS).

When will Azad Engineering IPO start?

Azad Engineering IPO will open from 20 December 2023 and IPO will close on 22 December 2023.

What is the open date of Azad Engineering IPO?

Azad Engineering IPO will open date from 20 December 2023.

What is the last date ( close date ) of Azad Engineering IPO?

Azad Engineering IPO will close from 22 December 2023.

What is the price band of Azad Engineering IPO?

Azad Engineering IPO price band is ₹499 to ₹524. ( Upper Price Band: ₹524, Lower Price Band: ₹499 )

What is the minimum amount required to apply for Azad Engineering IPO?

The minimum investment for retailers to apply for Azad Engineering IPO is ₹14,672 and the maximum investment is ₹190,736.

What is going on gray market premium of Azad Engineering IPO?

View gray market premium of Azad Engineering IPO by Clicking Here

How much is the GMP of Azad Engineering IPO?

Watch Azad Engineering IPO GMP Today: Click Here

What is the allotment date of Azad Engineering IPO?

The allotment date of Azad Engineering IPO is 26 December 2023.

How to check allotment status in Azad Engineering IPO?

To check the allotment status of Azad Engineering IPO, first of all go to the registrar website by clicking here, select your bad Azad Engineering IPO name or enter your bad application number, PAN number or client ID and click on submit. ( Video Link )

What is the listing date of Azad Engineering IPO?

The listing date of Azad Engineering IPO is 28 December 2023.

How much will be the listing gain in Azad Engineering IPO?

View listing gain of Azad Engineering IPO by Clicking Here

How much time Azad Engineering IPO is subscribed?

Total 83.04 times subscribed in Azad Engineering IPO out of which 24.51 times subscription was done in retail quota, 90.24 times subscription in NII quota and 179.64 times subscription in QIB quota.

How to apply for Azad Engineering IPO from Upstox?

Click Here to see how to apply for Azad Engineering IPO from Upstox. (step by step)

How to apply for Azad Engineering PO from Zerodha?

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How to apply for Azad Engineering IPO from Angle One?

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