Azad Engineering IPO GMP, Price, Date, Allotment

Last updated on December 29, 2023

Azad Engineering IPO Description – Azad Engineering stands as a pivotal producer of certified product ranges, catering to international original equipment manufacturers (OEMs) across the aerospace and defense, energy, and oil and gas sectors. The company specializes in the production of intricately engineered, sophisticated components crucial for both mission success and life preservation.

The company faces competition from manufacturers in China, Europe, the USA, and Japan. Its customer base comprises worldwide OEMs in the aerospace and defense, energy, and oil and gas sectors, including but not limited to General Electric, Honeywell International Inc., Mitsubishi Heavy Industries Ltd., Siemens Energy, Eaton Aerospace, and MAN Energy Solutions SE.

The product range includes 3D rotating airfoil/blade sections for turbine engines and other vital components serving two primary purposes: (a) for both defense and civil aircraft as well as spacecraft, and (b) for gas, nuclear, and thermal turbines employed in industrial applications and energy generation.

Azad Engineering has proven manufacturing capabilities and has delivered 3.09 million units between Fiscal 2009 to Fiscal 2023. The majority of the revenue is generated through exports to global OEMs, supported by long-term contracts. As of 30 September 2023, 89.69% of the total revenue comes from contracts with customers located outside India. For Fiscal 2023, the exports and domestic sales amounted to INR 202.31 crore and INR 49.37 crore, respectively, and private, and government sales and export incentives amounted to INR 233.70 crore, INR 17.60 crore, and INR 0.37 crore, respectively.

Promoters of Azad Engineering – Rakesh Chopdar

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Azad Engineering IPO Details

Azad Engineering IPO Dates	20 – 22 December 2023
Azad Engineering IPO Price	INR 499 – 524 per share
Fresh issue	4,580,151 shares (INR 228.55 – 240 crore)
Offer For Sale	9,541,957 shares (INR 476.14 – 500 crore)
Total IPO size	14,122,108 shares (INR 704.69 – 740 crore)
Minimum bid (lot size)	28 shares (INR 14,672)
Face Value	INR 2 per share
Retail Allocation	35%
Listing On	BSE, NSE

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Azad Engineering Financial Performance

	FY 2021	FY 2022	FY 2023	H1 FY 2024
Revenue	122.72	194.47	251.68	158.75
Expenses	108.79	159.13	248.36	137.92
Net income	11.50	29.46	8.47	26.89
Margin (%)	9.37	15.15	3.37	16.94

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Azad Engineering Offer News

• Azad Engineering IPO Review in 7 Points
• Azad Engineering IPO price fixed at INR 499 – 524, issue opens on 20 December
• Azad Engineering RHP
• Azad Engineering DRHP
• ASBA IPO Forms
• Live IPO Subscription Status
• IPO Subscription Status

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Azad Engineering Valuations & Margins

	FY 2021	FY 2022	FY 2023
EPS	2.53	6.49	1.79
PE ratio	–	–	278.77 – 292.74
RONW (%)	12.65	25.37	4.23
NAV	20.02	25.58	42.30
ROCE (%)	12.09	16.95	12.99
EBITDA (%)	22.94	32.02	28.72
Debt/Equity	0.97	1.64	1.47

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Azad Engineering IPO GMP Today (Daily Trend)

Date	Day-wise IPO GMP	Kostak	Subject to Sauda
27 December 2023	300	–	6,200
26 December 2023	300	–	6,200
23 December 2023	400	–	8,000
22 December 2023	370	–	7,500
21 December 2023	410	–	8,700
20 December 2023	450	–	9,100
19 December 2023	430	–	8,700
18 December 2023	400	–	8,000
16 December 2023	400	–	8,200

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Azad Engineering IPO Subscription – Live Updates

Category	QIB	NII	Retail	Employee	Total
Shares Offered	28,08,852	21,70,108	50,63,585	80,160	1,01,22,705
22 Dec 2023	179.66	87.54	23.69	14.64	80.59
21 Dec 2023	1.53	23.54	11.17	6.25	11.11
20 Dec 2023	0.05	6.13	3.93	2.06	3.31

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Azad Engineering IPO Allotment Status

Azad Engineering IPO allotment status is now available on the KFin Tech website. Click on this link to get allotment status.

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Azad Engineering IPO Dates & Listing Performance

Azad Engineering IPO Opening Date	20 December 2023
Azad Engineering IPO Closing Date	22 December 2023
Finalization of Basis of Allotment	27 December 2023
Initiation of refunds	27 December 2023
Transfer of shares to demat accounts	27 December 2023
Azad Engineering IPO Listing Date	28 December 2023
Opening Price on NSE	INR 720 per share (up 37.4%)
Closing Price on NSE	INR 677.50 per share (up 29.29%)

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Azad Engineering IPO Reviews – Subscribe or Avoid?

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Azad Engineering Offer Lead Manager

ICICI SECURITIES LIMITED
ICICI Venture House, Appasaheb Marathe Marg
Prabhadevi, Mumbai 400 025, Maharashtra
Phone: +91 22 6807 7100
Email: [email protected]
Website: www.icicisecurities.com

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Azad Engineering Offer Registrar

KFIN TECHNOLOGIES LIMITED
Selenium Tower – B, Plot 31 & 32, Gachibowli,
Financial District, Nanakramguda, Serilingampally,
Hyderabad – 500 032, Telangana
Tel: +91 40 6716 2222
E-mail: [email protected]
Website: www.kfintech.com

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Azad Engineering Contact Details

AZAD ENGINEERING LIMITED
90/C, 90/D, Phase-1, I.D.A. Jeedimetla,
Hyderabad 500 055, Telangana, India
Phone: +91 40 2309 7007
Email: [email protected]
Website: www.azad.in

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Azad Engineering IPO FAQs