Azad Engineering, a specialized manufacturer with a focus on aerospace and defence, energy, and oil and gas industries, is poised to launch its Initial Public Offering (IPO) from December 20, 2023, to December 22, 2023. The Azad Engineering IPO price band is set between ₹499 and ₹524 per share.
Azad Engineering IPO is structured to include a fresh issue of shares amounting to up to ₹240 crore. In addition to the fresh issue, the IPO also involves an Offer for Sale (OFS) of up to ₹500 crore. This OFS includes shares offered by a promoter and other selling shareholders.
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Full of Famous Names: The company boasts of several high-profile investors. Sachin Tendulkar, VVS Laxman, and Saina Nehwal are all invested in the company. Interestingly none of them are offloading any shares.
Tendulkar owns 4.38 lakh shares of the company, at an average price of ₹114.10. Laxman and Nehwal both own 43,800 shares each, which were acquired at an average price of ₹228.17. Now, taking the Azad Engineering IPO’s upper price band into consideration, their initial investments have grown multifold.
Nehwal and Laxman’s investment of ₹1 crore would grow up to ₹2.29 crore, whereas Tendulkar’s ₹5 crore investment would grow up to ₹22.96 crore.
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