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Market | Equity | Daily Market Tracker | IPO Synopsis
IPO SYNOPSIS
Azad Engineering Ltd
Registered Office:
90/C 90/D Phase 1 I D A,Jeedimetla,
Hyderabad - 500055,
Telangana, India.
Email :  cs@azad.in
Website :  www.azad.in
Initial public offer of 14,122,108 equity shares of face value of (Rs) 2 each ("Equity Shares") of Azad Engineering Limited ("Company") for cash at a price of (Rs) 524 per equity share (including a securities premium of (Rs) 522 per equity share) ("Offer Price") aggregating up to (Rs) 740.00 crores* (the "Offer") comprising a fresh issue of 4,580,151* equity shares aggregating up to (Rs) 240.00 crores* by the company ("Fresh Issue") and an offer for sale of 9,541,957* equity shares aggregating up to (Rs) 500.00 crores* (the "Offer for Sale"), comprising of 3,911,545* equity shares aggregating up to (Rs) 204.97 crores* by Rakesh Chopdar, 4,978,062* equity shares aggregating up to (Rs) 260.85 crores* by Piramal Structured Credit Opportunities Fund and 652,350* equity shares aggregating up to (Rs) 34.18 crores* by DMI Finance Private Limited (collectively the "Selling Shareholders") (such equity shares offered by the selling shareholders, the "Offered Shares"). The offer includes a reservation of up to 76,335* equity shares, aggregating up to (Rs) 4.00 crores (constituting 0.13% of the post offer paid-up equity share capital of the company) for subscription by eligible employees (the "Employee Reservation Portion"). The offer less the employee reservation portion is hereinafter referred to as the "Net Offer". The offer and the net offer constitute 23.89% and 23.76%, respectively, of the post-offer paid-up equity share capital of the company. The face value of equity shares is (Rs) 2 each. The offer price is 262 times the face value of the equity shares. *Subject to finalisation of basis of allotment
Issue
Money Payable On
Opens On
Closes On
Application
Allotment
20-Dec-23
22-Dec-23
524.00-0.00
0.00-0.00
Minimum Application for shares in Nos : 28     Further Multiples of : 28
 
(Rs.Cr)
Lead Managers to the Issue
Project Cost
222.75
Anand Rathi Advisors Ltd
Project Financed
740.00
 
Post Issue
11.82
 
Issue Price
524.00
 
Projects
Funding capital expenditure of the company
Repayment/prepayment in part or full of certain borrowings availed by the company
General corporate purposes
Promoted By
Rakesh Chopdar
Listing At
BSE
NSE
Registrar to the Issue
No Data Available!!!
.
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