Azad Engineering IPO Date, Review, Price, Allotment Details

Azad Engineering IPO Details: Azad Engineering IPO date is fixed, the IPO is to hit the market on December 20 and will close on December 22. Azad Engineering IPO to raise around ₹740 crores via IPO that comprises fresh issue of ₹240 crores and offer for sale up to ₹500 crores of ₹2 each. The retail quota is 35%, QIB is 50%, and HNI is 15%.
Azad Engineering IPO

Table of Contents

Azad Engineering is one of the key manufacturers of our qualified product lines supplying global original equipment manufacturers (“OEMs”) in the energy, aerospace, defense, and oil and gas industries, manufacturing highly engineered, complex, and mission and life-critical components (Source: EY Report). The company manufactures complex and highly engineered precision forged and machined components that are mission and life-critical and hence, some of their products have a “zero parts per million” defects requirement (Source: EY Report).


Azad Engineering’s products include 3D rotating airfoil/ blade portions of turbine engines and other critical components for (a) gas, nuclear, and thermal turbines used in industrial applications or energy generation, and (b) defense and civil aircraft and spaceships. As of September 30, 2023, the company generated a revenue of ₹1,142.92 million from the sale of airfoils/ blades for the energy industry, which comprised 72.00% of its revenue from operations. The company’s customers include global OEMs across the energy, aerospace, defense, 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.

Their components have been supplied to countries such as the USA, China, Europe, the Middle East, and Japan since our inception (Source: EY Report). Accordingly, They are a key link in the global supply chain for OEMs (Source: EY Report). They increased our revenue from ₹1,240.00 million in Financial Year 2020 to ₹2,516.75 million in Financial Year 2023 (CAGR of 27% between Financial Years 2020 and 2023) with an adjusted EBITDA margin of 31.61% in Financial Year 2023. They are one of the fastest growing manufacturers (in terms of revenue growth for the period between Financial Years 2020 – 2023) with one of the highest EBITDA margins among the key players for machined components for the key industries serviced by us (Source: EY Report).


Objects of the Issue

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

Azad Engineering IPO Review (Apply or Not)

  • Apply

Brokerage Firm IPO Review

  • Canara Bank Securities: Apply
  • Nirmal Bang: Apply
  • Reliance Securities: Apply
  • Swastika Investmart: Apply
  • Ventura Securities: Apply

Azad Engineering IPO Date & Price Band Details

IPO Open:December 20, 2023
IPO Close:December 22, 2023
IPO Size:Approx ₹740 Crores
Fresh Issue:Approx ₹240 Crores
Offer for Sale:Approx ₹500 Crores
Face Value:₹2 Per Equity Share
IPO Price Band:₹499 to ₹524 Per Share
IPO Listing on:BSE & NSE
Retail Quota:35%
QIB Quota:50%
 NII Quota:15%
DRHP Draft Prospectus:Click Here
RHP Draft Prospectus:Click Here
Anchor Investors List:Click Here

Azad Engineering IPO Market Lot

The Azad Engineering IPO minimum market lot is 28 shares with ₹14,672 application amount. The retail investors can apply up-to 13 lots with 364 shares or ₹190,736 amount.

ApplicationLot SizeSharesAmount
Retail Minimum128₹14,672
Retail Maximum13364₹190,736
S-HNI Minimum14392₹205,408
B-HNI Minimum691,932₹1,012,368

Azad Engineering IPO Allotment & Listing Dates

The Azad Engineering IPO date is December 20 and the close date is December 22. The Azad Engineering IPO allotment will be finalized on December 26 and the IPO listing on December 28.

Anchor Investors Allotment:December 19, 2023
IPO Open Date:December 20, 2023
IPO Close Date:December 22, 2023
Basis of Allotment:December 26, 2023
Refunds:December 27, 2023
Credit to Demat Account:December 27, 2023
IPO Listing Date:December 28, 2023

You can check IPO subscription status and IPO allotment status on their respective pages.

Azad Engineering IPO Form

How to apply for the Azad Engineering IPO? You can apply for Azad Engineering IPO via ASBA available in your bank account. Just go to the online bank login and apply via your bank account by selecting the Azad Engineering IPO in the Invest section. The other option is you can apply for Azad Engineering IPO via IPO forms downloaded via NSE and BSE. Check out the Azad Engineering forms – Click BSE Forms & NSE Forms blank IPO forms download, fill, and submit in your bank or with your broker.


Azad Engineering Company Financial Report

  ₹ in Crores
YearRevenueExpensePAT
2021₹125₹109₹11.50
2022₹199₹159₹29.46
2023₹262₹248₹8.47
2024 6M₹170₹138₹26.89

Azad Engineering IPO Valuation – FY2023

Check Azad Engineering IPO valuation details like Earning Per Share (EPS), Price/Earning P/E Ratio, Return on Net Worth (RoNW), and Net Asset Value (NAV) details.

Earning Per Share (EPS):₹1.79 per Equity Share
Price/Earning P/E Ratio:N/A
Return on Net Worth (RoNW):4.23%
Net Asset Value (NAV):₹42.30 per Equity Share

Peer Group

  • MTAR Technologies Limited
  • Paras Defence and Space Technologies Limited
  • Dynamatic Technologies Limited
  • Triveni Turbine Limited

Company Promoters

  • Rakesh Chopdar

Azad Engineering IPO Registrar

KFin Technologies Limited
Tel: +91 40 6716 2222
E-mail: [email protected]
Website: www.kfintech.com

Azad Engineering IPO Allotment Status Check

Check Azad Engineering IPO allotment status on KFintech website allotment URL. Click Here

Azad Engineering IPO Lead Managers aka Merchant Bankers

  • Axis Capital Limited
  • ICICI Securities Limited
  • SBI Capital Markets Limited
  • Anand Rathi Advisors Limited

Company Address

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

Azad Engineering IPO FAQs

What is Azad Engineering IPO?

Azad Engineering IPO is a main-board IPO. They are going to raise ₹740 Crores via IPO. The issue is priced at ₹[.] to ₹[.] pr equity share. The IPO is to be listed on BSE & NSE.

When Azad Engineering IPO will open?

The IPO is to open on December 20, 2023 for QIB, NII, and Retail Investors.

What is Azad Engineering IPO Investors Portion?

The investors’ portion for QIB is 50%, NII is 15%, and Retail is 35%.

How to Apply the Azad Engineering IPO?

You can apply for 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 Zerodha?

Log in to Console in Zerodha Website or in Application. Go to Portfolio and Click on IPO. You will see the IPO Name “Azad Engineering”. Click on Bid Button. Enter your UPI ID, Quantity, and Price. Submit IPO Application Form. Now go to your UPI App on Net Banking or BHIM App to Approve the mandate. Open Demat Account with Zerodha.

How to Apply the Azad Engineering IPO through Upstox?

Log in to the 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 Paytm Money?

Log in to Paytm Money 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 Paytm Money.

What is Azad Engineering IPO Size?

Azad Engineering IPO size is ₹740 crores.

What is Azad Engineering IPO Price Band?

Azad Engineering IPO Price Band is ₹[.] to ₹[.].

What is the Azad Engineering IPO Allotment Date?

Azad Engineering IPO allotment date is December 26, 2023.

What is the Azad Engineering IPO Listing Date?

Azad Engineering IPO listing date is December 28, 2023. The IPO is to list on BSE and NSE.

Note: The Azad Engineering IPO price band and date are officially announced. The IPO grey market premium (Azad Engineering IPO Premium) will be added to the IPO grey market page as it will start).

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One Response

  1. I am writing to address an issue regarding the recent AZAD Initial Public Offering (IPO) in which I participated. My name is
    Pallavi Punwatkar and my application details are
    Pan no. FSVPP4109K
    Application id. TR461711022338
    I have not received a refund for the Unallotted share in the IPO it has been 3 days since the allotment was concluded.
    I kindly request you to look into this matter and provide me with an update on the status of my refund.
    Look forward to a prompt resolution.

    Thank you for your cooperation.

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