Sachin Tendulkar-Backed Azad Engineering Takes Flight with Rs 740 Crore IPO: Key Dates, Price Band, and Grey Market Buzz

Get ready for liftoff! Azad Engineering, a leading manufacturer of aerospace components and turbines, is preparing for a stellar debut on the Indian stock exchanges with its Rs 740 crore initial public offering (IPO). The company, backed by cricketing legend Sachin Tendulkar, has garnered significant investor interest, making it one of the most anticipated IPOs of the year.

Key Dates to Remember:

  • IPO Opens: December 20, 2023
  • Subscription Closes: December 22, 2023
  • Share Allotment: December 26, 2023
  • Refund Initiation: December 27, 2023
  • Demat Credit: December 27, 2023
  • Listing Date: December 28, 2023
  • Listing Exchanges: BSE & NSE

Price Band and Lot Size:

  • Price Band: Rs 499 – Rs 524 per share
  • Minimum Lot Size: 28 shares (Rs 14,672 at upper price band)
  • Maximum Lot Size for Retail Investors: 13 lots (364 shares; Rs 1,90,736 at upper price band)

Grey Market Mania:

Azad Engineering’s shares are already creating a buzz in the grey market, commanding a premium of Rs 440 per share as of today. This translates to a potential listing price of Rs 964 per share, representing a staggering 83.97% premium over the upper price band. While grey market premiums are not always indicative of actual listing performance, they do reflect strong investor sentiment.

Fueling Growth with IPO Proceeds:

Azad Engineering plans to utilize the IPO proceeds to:

  • Repay debt: The company aims to reduce its debt burden, which will improve its financial health and creditworthiness.
  • Expand business: Azad Engineering intends to use a portion of the funds to expand its manufacturing capacity and enter new markets.
  • Fulfill corporate objectives: The company has plans to invest in research and development, acquire new technologies, and strengthen its brand presence.

Sachin Tendulkar’s Touch of Midas:

Sachin Tendulkar’s investment in Azad Engineering adds a touch of glamour and investor confidence to the IPO. His association with the company is likely to attract retail investors and boost overall subscription levels.

Expert Take:

Analysts are cautiously optimistic about Azad Engineering’s IPO prospects. The company’s strong fundamentals, diversified client base, and potential growth avenues are attractive to investors. However, the volatile market conditions and high grey market premium warrant a cautious approach. Investors should carefully assess their risk appetite and conduct thorough due diligence before subscribing to the IPO.

Overall, Azad Engineering’s IPO is poised for a high-flying debut. With its robust business model, strategic growth plans, and the Sachin Tendulkar factor, the company is well-positioned to attract investor interest and make a successful entry into the public markets.

(Disclaimer: This news article is for informational purposes only and should not be construed as investment advice. Please consult with a qualified financial advisor before making any investment decisions.)

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