Azad Engineering Limited IPO

Issue Open Dec, 20 2023 Listing At BSE, NSE
Issues Close Dec, 22 2023 Issue Size ₹740.00 Cr
Issue Type Book Built Issue IPO Allotment Details Dec, 26 2023
Lot Size 28 Shares Refunds Dec, 27 2023
Face Value ₹2 per share Credit of Shares to Demat Dec, 27 2023
Price Band ₹499 to ₹524 per share Cut off time for UPI Mandate Confirmation Dec, 22 2023 5:00 Pm

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About the Company

Azad Engineering Ltd. started its core manufacturing in 2008 and is a player in the energy turbine and aerospace & defence components market. It is also a manufacturer of oil & gas components. In energy turbine sector, the company produces rotors and blades for gas turbines and moving and guide blades for variety of steam turbines. The company has high-precision manufacturing ability and caters to prominent global original equipment manufacturers (“OEMs”) in the energy, aerospace and defence, and oil and gas industries, manufacturing highly engineered, complex and mission and life-critical components. It manufactures complex and highly engineered precision forged and machined components that are mission and life-critical and hence, some of its products have a “zero parts per million” defects requirement. The company’s manufacturing infrastructure comprises four facilities in India, at Hyderabad with a total manufacturing area of ~20,000 sq. meters. The company's customer base includes the USA, China, Europe, the Middle East and Japan.

Objects of the Offer:

The company intends to utilize the net proceeds towards the following objects:

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

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