December 19, 2023
This is to inform you that Azad Engineering Limited is coming out with a public issue to raise Rs.740 crore from the market.
The issue opens on December 20 and closes on December 22, 2023.
Details of the Azad Engineering Limited IPO
| Company Details | : |
Azad Engineering Limited (“Azad”) was incorporated on September 14, 1983. Azad is one of the key manufacturers of qualified product lines supplying to global original equipment manufacturers (“OEMs”) in the energy, aerospace and defence, and oil and gas industries, manufacturing highly engineered, complex and mission and life-critical components. Azad 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. As of September 30, 2023, they generated a revenue of ₹114.29 crore from sale of airfoils / blades for the energy industry, which comprised of 72% of their revenue from operations. The company competes with manufacturers from China, Europe, USA, and Japan. Their customers include global OEMs across the energy, aerospace and defence, 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. The company’s manufacturing infrastructure comprises 4 facilities in India, at Hyderabad with a total manufacturing area of ~20,000 sq. mtr. Within the energy turbine industry, airfoils contribute to the majority of the sales for the company. Other than this, the company also supplies other special machined components for energy turbines. Their aerospace and defence products are largely utilized in commercial and defence aircraft to provide propulsion, actuation, hydraulics, and flight control. At an overall level, the company delivered 0.31 crore units between FY09 to FY23. Further, they have 2 manufacturing facilities in the pipeline. Azad supplies components to some of the key manufacturers of energy turbines. In FY23, the company supplied to the customers which control approximately 70% of the gas turbine market (based on technology ownership and number of units ordered in H1 2022) globally. Azad supplies components to OEMs as well as Tier 1 manufacturers in the aerospace & defence segment. The company has supplied critical components for aircraft platforms such as B737, B737 Max, B747, B777, B777X, A320, A350, A355, A350 XWB, Gulfstream G550, and is in discussions for supply of components for new engine platforms. The company is also backed by Piramal Structured Credit Opportunities Fund, DMI Finance Pvt Ltd and other investors. |
| Issue Period | : | Issue opens on: Wednesday, December 20, 2023 Issue closes on: Friday, December 22, 2023 |
| Price Band | : | Rs.499 to Rs.524 per equity share |
| Bid Lot | : | 28 equity shares and in multiple thereafter. |
| Issue Size | : | Rs.740.00 crore |
| Employee Reservation | : | Equity Shares aggregating upto Rs. 4 Cr |
| Issue break-up | : | QIB - 50% of the net offer – Rs.368.00 crore NIB - 15% of the net offer - Rs.110.40 crore RET - 35% of the net offer - Rs.257.60 crore |
| Listing | : | NSE and BSE |
| Registrar | : | KFin Technologies Ltd |
| UPI | : | All Retail & NII Bidders (bids up to ₹ 5,00,000) Applications through brokers are compulsorily in UPI Mode |
| Note | : |
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Watch these 4 videos to know how to apply for the Azad Engineering Limited IPO online easily.
Step 1: Create an UPI ID 
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Step 2: Apply for IPO online using mobile app or website 
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Step 3: Authorise UPI mandate to block payment 
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Remember these points while applying for IPOs
- With Sharekhan, you can now fill and submit your IPO application online at your convenience anytime before an issue closes. This can be done through the Sharekhan app or website.
- You will need a mobile phone with a SIM linked to your bank account offering the UPI facility and a debit card to create your UPI ID.
- Currently, UPI works on the following mobile applications:
Name of App (Supported Platforms) VPA Handle BHIM Baroda Pay (only Android) @BARODAMPAY BHIM Oriental Pay (Only Android) @obc BHIM RBL Pay (Android & iOS) @rbl BHIM (android & iOS) @upi BHIM ALLBANK UPI (only Android) @allbank BHIM Axis Pay (only android) @axisbank BHIM IndusPay (only Android) @indus BHIM Lotza UPI (only Android) @federal BHIM SBIPay (only android) @sbi Citi Mobile (android & iOS) @citi & @citigold Google Pay (android & iOS) @okhdfcbank | @okaxis | @oksbi | @okicici HSBC Simply Pay (android & iOS) @hsbc iMobile by ICICI Bank (android users) @icici Kotak Mobile Banking App (Android) @kotak Phone-Pe (android & iOS) @ybl SIB Mirror+ (only Android) @sib BHIM YES PAY (only Android) @yesbank DigiBank - DBS (Android & iOS @dbs Paytm (Andriod & iOS) @paytm BHIM AUPay (Android & iOS) @aubank Freecharge (Android & iOS) @freecharge BHIM BANDHAN UPI (Android & iOS) @bandhan BHIM KBL UPI (Android) @kbl Phone-Pe (Android & iOS) @ybl, @axl, @ibl - To avoid rejection, download the latest version of the app.
- Remember to select UPI as the payment option in the IPO application form by providing your UPI ID.
- As soon as you submit your application through the mobile app or website, you will receive an SMS from National Payments Corporation of India (NPCI) informing you that your UPI mandate has been generated.
- The app passcode and the UPI PIN can be different; remember to enter only the UPI PIN while authorising the UPI mandate. Note that you should not share your UPI PIN with anyone.
- If you forget the UPI PIN, simply reset it instead of entering a wrong one.
- If the transaction gets through, you will receive a “Transaction is successful” message on your mobile.
- There are two possible scenarios post-allotment: On full allotment, funds will be debited from your account. If there is no allotment of shares, the blocked funds will be released after the end date or expiry date of the UPI mandate.
| Published by Team Internal Communications |  |
| This newsletter is for internal circulation only. It may not be published, reproduced or quoted in part or in whole, nor may it be published on social media without prior consent. The content is strictly copyright and reproduction of the whole or part of it in any form is prohibited without written permission from the Internal Communications department of Sharekhan. | |
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