Azad Engineering Limited is one of the key manufacturers of the qualified product lines supplying to global original equipment manufacturers (“OEMs”) in the aerospace and defence, energy, and oil and gas industries, manufacturing highly engineered, complex and mission and life-critical components.
The customers include global OEMs across the aerospace and defence, energy, and oil and gas industries such as General Electric, Honeywell International Inc., Mitsubishi Heavy Industries, Ltd., Siemens Energy, Eaton Aerospace and MAN Energy Solutions SE.
The components have been supplied to countries such as USA, China, Europe, Middle East, and Japan since its inception.
The products include 3D rotating airfoil/ blade portions of turbine engines and other critical components for:
- Defence and civil aircrafts and spaceships, and
- Gas, nuclear and thermal turbines used in industrial applications or energy generation.
The Company’s aerospace and defence products include airfoils/ blades and components for engines, auxiliary power units (“APUs”), hydraulics, actuating systems, flight controls, fuel and inerting sections of commercial and defence aircrafts and spacecrafts, among other defence systems and various critical components for missiles. The company has supplied critical components to major commercial aircraft manufacturers such as B737, B737 Max, B747, B777, B777X, A320, A350, A355, A350 XWB, Gulfstream G550.
Azad Engineering IPO – Details
| IPO Opening Date | 20 December 2023 |
| IPO Closing Date | 22 December 2023 |
| Issue Type | Book Built Issue IPO |
| Issue Size | 1,41,22,138 Shares Worth ₹740 Crore Fresh Issue: 45,80,153 Shares Worth ₹240 Crore Offer For Sale: 95,41,985 Shares Worth ₹500 Crore |
| Face Value | ₹2 per equity share |
| IPO Price | ₹499 – ₹524 |
| Market Lot | 28 Shares |
| Min Order | 28 Shares (1 Lot) |
| Listing At | BSE, NSE |
| Register | KFin Technologies Limited |
| QIB Shares Offered | 50% |
| NII (HNI) Shares Offered | 15% |
| Retail Shares Offered | 35% |
Azad Engineering IPO – Date Schedule
| IPO Open Date | 20 December 2023 |
| IPO Close Date | 22 December 2023 |
| Basis of Allotment Date | 26 December 2023 |
| Initiation of Refund | 27 December 2023 |
| Credit of Shares to Demat Account | 27 December 2023 |
| IPO Listing Date | 28 December 2023 |
| Cut-off time for UPI mandate confirmation | 5 PM on 22 December 2023 |
Azad Engineering IPO – Lots Size & Price
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (Min) | 1 | 28 | 14,672 |
| Retail (Max) | 13 | 364 | 1,90,736 |
| S-HNI (Min) | 14 | 392 | 2,05,408 |
| S-HNI (Max) | 68 | 1904 | 9,97,696 |
| B-HNI (Min) | 69 | 1932 | 10,12,368 |
Competitive Strengths
- 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 growing competition from China and Eastern Europe;
- 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; and
- Consistent track record of financial performance.
Company Promoters
- Rakesh Chopdar
Company Financials (Restated Consolidated)
| Particulars | Total Revenue | Total Expense | Profit After Tax | Total Borrowing |
|---|---|---|---|---|
| 31 March 2021 | 125.03 | 108.79 | 11.50 | 87.73 |
| 31 March 2022 | 199.26 | 159.12 | 29.45 | 197.18 |
| 31 March 2023 | 261.52 | 248.36 | 8.47 | 300.60 |
Key Performance Indicator
| KPI | Values |
|---|---|
| ROE | – |
| ROCE | – |
| Debt/Equity | – |
| EPS (Rs) | – |
| RoNW | – |
Object Of The Issue
- Funding capital expenditure of the Company.
- Repayment/ prepayment, in part or full, of certain borrowings availed by the Company.
- General corporate purposes.
Azad Engineering IPO Peer Comparison
| S. No. | Face Value | Company Name | PE |
| 1 | 10 | MTAR Technologies Limited | 67.85 |
| 2 | 10 | Paras Defence and Space Technologies Limited | 77.50 |
| 3 | 10 | Dynamatic Technologies Limited | 88.73 |
| 4 | 1 | Triveni Turbine Limited | 75.64 |
Azad Engineering IPO Promoter Holding
| Pre Issue Share Holding | 78.61% |
| Post Issue Share Holding | 65.90% |
Azad Engineering IPO Prospectus
Company Contact Information
| Azad Engineering Limited 90/C, 90/D, Phase-1, I.D.A. Jeedimetla, Hyderabad 500055, Telangana, India Phone: +91 40 2309 7007 Email: cs@azad.in Website: www.azad.in |
Azad Engineering IPO Registrar
| KFin Technologies Limited Phone: +91 40 6716 2222 Email: azad.ipo@kfintech.com Website: https://kosmic.kfintech.com/ipostatus/ |
Azad Engineering IPO Lead Manager(s)
| 1. Axis Capital Limited 2. ICICI Securities Limited 3. SBI Capital Markets Limited 4. Anand Rathi Advisors Limited |
Azad Engineering IPO FAQs
| What is Azad Engineering IPO? Azad Engineering IPO is a main-board IPO. The issue is priced at ₹499 to ₹524 per equity share. The IPO is to be listed on BSE & NSE. |
| When Azad Engineering IPO will open? The IPO is to open on 20 December 2023 for QIB, NII, and Retail Investors. |
| What is Azad Engineering IPO Investors Portion? The investors’ portion for QIB – 50%, NII – 15%, and Retail – 35%. |
| How to Apply the Azad Engineering IPO? You can apply Azad Engineering IPO via ASBA online via your bank account. You can also apply for ASBA online via UPI through your stock brokers. You can also apply via your stock brokers by filling up the offline form. |
| How to Apply the Azad Engineering IPO through Angle One? Log in to Angle One Application with your credentials. Select the IPO. You will see the IPO Name “Azad Engineering”. Click on Bid Button. Confirm your Application. Now go to your UPI App on Net Banking or BHIM App to Approve the mandate. Open Demat Account with Angle One. |
| How to Apply the Azad Engineering IPO through 5 Paisa? Log in to 5 Paisa Application with your credentials. Select the IPO. You will see the IPO Name “Azad Engineering“. Click on Bid Button. Confirm your Application. Now go to your UPI App on Net Banking or BHIM App to Approve the mandate. Open Demat Account with 5 Paisa. |
| How to Apply the Azad Engineering IPO through Upstox? Log in to Upstox Application with your credentials. Select the IPO. You will see the IPO Name “Azad Engineering”. Click on Bid Button. Confirm your Application. Now go to your UPI App on Net Banking or BHIM App to Approve the mandate. Open Demat Account with Upstox. |
| How to Apply the Azad Engineering IPO through IIFL? Log in to IIFL Application with your credentials. Select the IPO. You will see the IPO Name “Azad Engineering”. Click on Bid Button. Confirm your Application. Now go to your UPI App on Net Banking or BHIM App to Approve the mandate. Open Demat Account with IIFL. |
| What is Azad Engineering IPO Size? Azad Engineering IPO size is ₹740 Crore. |
| What is Azad Engineering IPO Price Band? Azad Engineering IPO Price Band is ₹499 to ₹524. |
| What is Azad Engineering IPO Minimum and Maximum Lot Size? The minimum bid is 28 Shares with ₹14,672 amount while the maximum bid is 364 Shares with ₹1,90,736. |
| What is the Azad Engineering IPO Allotment Date? Azad Engineering IPO allotment date is 26 December 2023. |
| What is the Azad Engineering IPO Listing Date? Azad Engineering IPO listing date is 28 December 2023. The IPO is to list on BSE and NSE. |
