Azad Engineering IPO: An Overview and Corporate Insight
Azad Engineering Ltd. stands as a niche manufacturer, specializing in intricate components for critical applications in the energy, oil and gas, aerospace, and defence sectors. Renowned for producing mission-critical items, including 3D spinning air-foil sections for turbine engines, the company serves both military and commercial aircraft, spaceships, and nuclear power applications. With a focus on debt repayment and capital expenditures, the Azad Engineering IPO is poised to propel Azad Engineering’s growth. Axis Capital, ICICI Securities, SBI Capital Markets, and Anand Rathi Securities will lead the IPO management, with KFIN Technologies Ltd. as the registrar.
Grey Market Premium Analysis and IPO Timelines – Azad Engineering IPO
The Grey Market Premium (GMP) for Azad Engineering IPO. has been a dynamic reflection of market sentiment. Starting at ₹400 per share, it experienced fluctuations over the last four days, dropping to ₹380 before rebounding to ₹440. The GMP serves as an informal indicator, influenced by market conditions and IPO subscription levels. The table below illustrates the GMP trend:
|Grey Market Price (GMP)
|18th December ’23
|17th December ’23
|16th December ’23
|15th December ’23
Investors keen on Azad Engineering’s IPO should closely monitor the GMP trend for insights into listing status. Considering an upper price band of ₹524, the GMP of ₹440 suggests an 83.97% premium, indicating a potential listing price around ₹964 per share.
Pricing Details and Lot Size – Azad Engineering IPO
Azad Engineering IPO, with a price band of ₹524, comprises a fresh issue of 45,80,153 shares and an offer for sale (OFS) of 95,41,985 shares. Investors must note the minimum lot size of 150 shares, with retail investors required to invest a minimum of ₹15,000. The IPO is anticipated to be listed on the BSE and NSE.
Book-Running Lead Managers and Registrar – Azad Engineering IPO
The IPO is under the capable guidance of Axis Capital, ICICI Securities, SBI Capital Markets, and Anand Rathi Securities as the book-running lead managers. KFIN Technologies Ltd. is entrusted with the responsibilities of the issue’s registrar.
Offer for Sale and IPO Size Breakdown – Azad Engineering IPO
Azad Engineering Ltd.’s IPO encompasses an offer for sale (OFS) of 95,41,985 shares, allowing a transfer of ownership without dilution of equity or earnings per share. The new issue, along with the OFS component, makes up the entire IPO size.
IPO Structure and Reservation Criteria – Azad Engineering IPO
The IPO structure involves both a fresh issue, attracting new capital and diluting equity, and an offer for sale (OFS), a mere transfer of ownership. The allocation of shares under IPO reserves 50% for QIBs, 35% for retail investors, and 15% for HNI/NII investors.
IPO Timelines at a Glance – Azad Engineering IPO
|IPO Opening Date
|20th December 2023
|IPO Closing Date
|22nd December 2023
|23rd December 2023
|28th December 2023
Utilization of Fresh Issuance and Technological Advancements – Azad Engineering IPO,
Azad Engineering Ltd. plans to utilize the fresh issue proceeds for debt settlement, capital expenditures, and general business objectives. This infusion of capital positions the company strategically for technological advancements and sustained growth.
In conclusion, Azad Engineering Ltd.’s IPO marks a significant opportunity for investors. The GMP trends, though subject to change, indicate a robust response in the market. The company’s focus on critical components for diverse sectors, along with prudent utilization of IPO proceeds, underscores its growth potential. As investors contemplate this offering, staying attuned to the GMP dynamics and closely monitoring subscription levels will provide valuable insights into the IPO’s trajectory.
Frequently Asked Questions (FAQ) – Azad Engineering IPO
What does Azad Engineering Ltd. specialize in?
Azad Engineering is a niche manufacturer specializing in intricate components for critical applications in energy, oil and gas, aerospace, and defence sectors.
What is the primary purpose of Azad Engineering’s IPO?
The IPO aims to pay off outstanding debts, fund capital expenditures, and address general business objectives.
Who are the lead managers for Azad Engineering’s IPO?
Axis Capital, ICICI Securities, SBI Capital Markets, and Anand Rathi Securities are the lead managers for the IPO.
How is the IPO structured in terms of new issuance and offer for sale (OFS)?
The IPO comprises both a fresh issue, attracting new capital and diluting equity, and an offer for sale (OFS), a transfer of ownership without dilution.
What is the lot size and minimum investment for retail investors in Azad Engineering IPO?
The minimum lot size is 150 shares, and retail investors are required to invest a minimum of ₹15,000.
What is the price band for Azad Engineering IPO?
The IPO price band is ₹524 per share.
How has the Grey Market Premium (GMP) trended for Azad Engineering IPO?
The GMP has fluctuated, starting at ₹400 and experiencing variations before reaching ₹440. Investors should closely monitor this trend for insights.
When does the IPO open and close for subscription?
The IPO opens on 20th December 2023 and closes on 22nd December 2023.
When is the allotment date for Azad Engineering IPO?
The allotment date is set for 23rd December 2023.
When is Azad Engineering expected to be listed on the stock exchanges?
The anticipated listing date for Azad Engineering IPO is 28th December 2023, on the BSE and NSE mainboards.