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Blockbuster success of Azad Engineering Limited’s IPO of INR 740 Crores

2023

Issuer Details

  • Azad Engineering is one of the key manufacturers of complex and highly engineered precision forged and machined components supplying to global OEMs in the energy, aerospace and defence, and oil and gas industries
  • Preferred manufacturer of mission & life-critical components with “zero parts per million” defects requirement and serving highly regulated industries with significant entry barriers
  • Over 10 years average relationship with certain global OEMs and well diversified customer base across geographies with ~80% revenue from outside India

SBICAPS Value Add

  • Positioned Azad Engineering as a key player in India’s precision manufacturing sector with a differentiated high-growth story
  • Delivered stellar performance with the highest procurement amongst the 3 BRLMs with a 46% share of the Anchor Book
  • Played a crucial role in converting marquee long-only investors and hand holding the management throughout the IPO Process
  • Leveraged its exceptional domain capabilities across due diligence, documentation, securities settlement and trading

Issue Deatils

Issue Size INR 740 Cr
Fresh Issue INR 240 Cr
Offer for Sale INR 500 Cr
Issue Price INR 524 per share
Issue Period Dec 20 - 22,2023
Listing Date 20th Dec 2023
Overall Subscription 80.6x*

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