Azad Engineering Ltd. IPO

Azad Engineering Limited, a titan in the Indian braking industry, reigns supreme as the largest manufacturer of brake-shoe and advanced braking systems for two-wheelers. For over three decades, they've safeguarded journeys by supplying both OEMs and the aftermarket with high-quality, dependable brake solutions. Beyond brakes, their expertise extends to aluminum lightweighting, wheel assemblies, and safety control cables, catering to diverse vehicles from motorcycles to four-wheelers. Azad's relentless focus on innovation and technological prowess has earned them recognition as a major player not only in India, but also in the global arena. With a commitment to safety and exceeding industry standards, Azad Engineering Limited paves the way for smoother, safer rides on every road.

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DRHP
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Open Date

2023-12-20

Close Date

2023-12-22

Azad Engineering Ltd. IPO Details

Check out the issue details for Azad Engineering Ltd. IPO as disclosed in SEBI.

IPO Price

₹ 524

Price Band

₹ 499 - 524

Issue Size

740 Cr.

Issue Type

Book Built

Open

2023-12-20

Close

2023-12-22

Listingprice

₹ 720

ListingGain

37.40%

Listing Date

2023-12-28

CMP

₹ 1576.25

Current Return

200.81%

Azad Engineering Ltd. News

Azad Engineering signs supply agreement with Arabelle Solutions France12 Nov, 3:08PM Azad Engineering informs about investor presentation12 Nov, 10:01AM Azad Engineering - Quaterly Results11 Nov, 5:48PM Azad Engineering - Quaterly Results11 Nov, 5:48PM Azad Engineering inks non-binding MoU with Baker Hughes8 Nov, 3:58PM AZAD Engineering signs agreement with Mitsubishi Heavy Industries, Japan 4 Nov, 9:28AM Azad Engineering receives business award from Honeywell Aerospace ISC, USA24 Oct, 3:09PM Azad Engineering informs about earnings call transcript14 Aug, 5:26PM Azad Engineering - Quaterly Results8 Aug, 5:00PM Azad Engineering - Quaterly Results8 Aug, 5:00PM Azad Engineering - Quaterly Results8 Aug, 5:00PM Azad Engineering receives award from Siemens Energy Global GmbH & Co12 Jul, 9:25AM Azad Engineering secures contract from GTRE23 May, 4:42PM Azad Engineering - Quaterly Results21 May, 5:56PM Azad Engineering - Quaterly Results21 May, 5:56PM Azad Engineering informs about asset purchase agreement10 May, 11:33AM Azad Engineering to incorporate two subsidiaries22 Mar, 12:30PM Azad Engineering inks strategic contract with GE Vernova 14 Mar, 11:08AM Azad Engineering informs about award of order 12 Mar, 4:17PM Azad Engineering inks strategic supply agreement with Baker Hughes Oilfield Operations12 Mar, 12:18PM

Company Financials

You can get the following financial statements of Azad Engineering Ltd. as of now.

Company Name

Azad Engineering Ltd.

Exchange

NSE: AZAD BSE: 544061

  Profit Loss
  Balance Sheet
  Quarterly
  Shareholding
  Cash Flow

The details about the Azad Engineering Limited IPO is as:

  • The issue size of the IPO is 740 Cr.
  • The price band for Azad Engineering Limited IPO is Rs 499 to Rs 524.
  • The shares of Azad Engineering Limited IPO will list on 28th December 2023.
  • The latest tentative GMP of Azad Engineering Limited IPO is Rs 350.
  • The shares of Azad Engineering Limited IPO is subscribed 83.04 Times as of 22nd December 2023.

 

Azad Engineering Limited IPO Valuation

The approx valuation of Azad Engineering Limited IPO based on its price band and DRHP (prospectus) is:

Particulars Value
Upper Price Band Rs 524
Existing Shares (Qty) 5.45 Cr
Fresh Issue 240 Cr
Market Cap 3095.8 Cr
EPS (FY23) Rs 1.79
PE Ratio 292.73x
Industry PE 77.43x

 

Azad Engineering Limited IPO Issue Size

Azad Engineering Limited IPO issue size is 740 Cr. 

Issue Amount
Fresh Issue 240 Cr
Offer For Sale 500 Cr

 

Azad Engineering Limited IPO Market Lot

An Individual can apply for a minimum 1 lot of 28 shares and a maximum of 13 lots of 364 shares. Find the details below:

Application Lot Shares Amount
 Minimum  1 28 14,672
 Maximum 13 364 1,90,736

 

Azad Engineering Limited IPO share offer

The shares of Azad Engineering Limited IPO is subscribed 83.04 Times as of 22nd December 2023. The category-wise shares subscribed are as follows:

Category % Offered Subscription
Qualified Institutional Maximum 50% 179.64 Times
Non-Institutional Minimum 15% 90.24 Times
Retail Individual Minimum 35% 24.51 Times
Total   83.04 Times

Find below the dates for Azad Engineering Limited IPO:

Schedule Date
Basis of Allotment 26 December 2023
Refunds 27 December 2023
Credit to Demat Account 27 December 2023
IPO Listing Date 28 December 2023

 

 

Check allotment status

Profit & Loss (All Figures in Cr. Adjusted EPS in Rs.)

PARTICULARS Mar 2021 Mar 2022 Mar 2023 Mar 2024
Net Sales 120.51 194.47 251.68 340.77
Total Expenditure 91.81 132.22 179.36 224.18
Operating Profit 28.7 62.25 72.31 116.59
Other Income 4.16 3.35 9.85 31.99
Interest 4.89 13.62 52.38 47.27
Depreciation 8.87 13.31 16.58 20.53
Exceptional Items 0 0 0 0
Profit Before Tax 19.09 38.67 13.19 80.79
Provision for Tax 5.58 10.68 4.69 22.21
Net Profit 13.51 28 8.51 58.58
Adjusted EPS (Rs.) 0.3 0.62 0.17 0.99

Balance Sheet (All Figures are in Crores.)

Particulars Mar 2021 Mar 2022 Mar 2023 Mar 2024
Equity and Liabilities
Share Capital 5.41 1.51 1.65 11.82
Total Reserves 95.97 118.5 202.38 633.28
Borrowings 36.75 122.35 220.65 27.11
Other N/C liabilities 8.49 13.89 16.15 26.68
Current liabilities 113.08 152.02 160.82 112.8
Total Liabilities 259.71 408.28 601.66 811.7
Assets
Net Block 114.06 137.43 209.68 257.27
Capital WIP 0 23.66 37.99 45.43
Intangible WIP 0 0 0 0
Investments 6.29 6.28 6.28 0
Loans & Advances 8.89 60.28 42.76 46.5
Other N/C Assets 7.62 8.8 8.68 26.16
Current Assets 122.85 171.83 296.27 436.33
Total Assets 259.71 408.28 601.66 811.7
* Other Non-current Liabilities include Net deferred Liabilities

Quarterly Result (All Figures in Cr.)

PARTICULARS Dec 2023 Mar 2024 Jun 2024 Sep 2024
Other Income 18.44 2.77 0.61 1.7
Profit Before Tax 26.58 22.63 24.37 29.94
Tax 9.78 7.7 7.24 8.87
Profit After Tax 16.8 14.93 17.13 21.07
Adjusted EPS (Rs) 2.84 2.53 2.9 3.56

Share Holding Pattern

Promoter Pledging %

Date Promoter % Pledge %
Sep 2024 65.9 0.76
Jun 2024 65.9 0
Mar 2024 65.9 0
Dec 2023 65.9 0
* Figures given above are % of equity capital

Cash Flows (All Figures are in Crores.)

PARTICULARS Mar 2021 Mar 2022 Mar 2023 Mar 2024
Profit from operations 19.09 38.67 13.19 80.79
Adjustment 9.23 25.45 67.23 75.67
Changes in Assets & Liabilities 9.74 -38.41 -80.99 -148.77
Tax Paid -4.15 -4.78 -9.64 -14.62
Operating Cash Flow 33.91 20.94 -10.21 -6.95
Investing Cash Flow -28.58 -114.24 -101.15 -55.25
Financing Cash Flow 6.97 96.04 126.33 70.99
Net Cash Flow 12.3 2.74 14.98 8.79
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