31 Mar 2021
Assets256.05
Total Income125.03
Profit After Tax11.50
Reserves and Surplus89.42
Total Borrowing87.71
At a glance
Updated 2026-09-15Azad Engineering operates in the 134,390.00 segment. Azad Engineering is a Mainboard IPO with an issue size of ₹740.00 crore, proposed for listing on BSE, NSE. The offer opens on 20th Dec 2023 and closes on 22nd Dec 2023. The issue structure includes a fresh issue of ₹240.00 crore and an offer-for-sale component of ₹500.00 crore. The current listing schedule points to 28th Dec 2023.
Issue details
Listing atBSE, NSE
Issue typeBook Build Issue
Issue size₹740.00 Cr
Fresh issue₹240.00 Cr
Offer for sale₹500.00 Cr
Face value₹2
Price band₹499.00–₹524.00
Allotment26th Dec 2023
Listing28th Dec 2023
Listing performance
Full performance ↗Issue price₹524.00
Listing price₹720.00
Current price—
Listing gain37.40%
Current return—
Price progressionIssue → Listing → Current
Grey market
GMP page ↗Latest GMP₹195.00
GMP / upper price37.21%
Est. listing₹719.00
GMP is unofficial sentiment data, not an exchange price.
Timeline
Opens20th Dec 2023
Closes22nd Dec 2023
Allotment26th Dec 2023
Refund27th Dec 2023
Demat27th Dec 2023
Listing28th Dec 2023
Subscription demand
Full bidding ↗Total83.04×
Lot size
| Investor | Lots | Shares | Amount |
|---|---|---|---|
| Minimum Bid | 1 | 28 | ₹14,672 |
Company
Incorporated1983
Use of proceeds
| Object | Amount |
|---|---|
| Funding capital expenditure of the Company | ₹60.40 Cr |
| Repayment/prepayment, in part or full, of certain borrowings availed by the Company | ₹138.19 Cr |
| General corporate purposes | ₹24.17 Cr |
Financial performance
Year-wise operating scale, profitability and balance-sheet context.Revenue169.54₹ Cr · -35.2% vs prior year
PAT26.89₹ Cr · +217.5% vs prior year
Assets636.63₹ Cr · +8.0% vs prior year
Borrowing324.94₹ Cr · +8.1% vs prior year
3-year financial trendRevenue / EBITDA / PAT
₹ crore31 Mar 2022
Assets404.32
Total Income199.26
Profit After Tax29.46
Reserves and Surplus118.88
Total Borrowing197.18
31 Mar 2023
Assets589.21
Total Income261.52
Profit After Tax8.47
Reserves and Surplus202.51
Total Borrowing300.60
30 Sep 2023
Assets636.63
Total Income169.54
Profit After Tax26.89
Reserves and Surplus221.14
Total Borrowing324.94
KPIs
| KPI |
|---|
| ROE |
| ROCE |
| Debt / Equity |
| RoNW |
| PAT Margin |
Valuation & shareholding
Pre-IPO EPS1.79
Pre-IPO P/E292.74
Post-IPO P/E57.58
Promoter holding pre78.61%
Promoter holding post65.9%
Market cap₹3097.52 Cr.
Peer comparison
| Company | EPS | P/E | RoNW | NAV |
|---|---|---|---|---|
| Azad Engineering IPO | — | 10.60 x | — | — |
| Lohia Corp IPO | — | 23.21 x | — | — |
| Diffusion Engineers IPO | — | 20.41 x | — | — |
| JNK India IPO | — | 37.46 x | — | — |
Issue expenses
| Expense | Amount |
|---|---|
| BRLMs’ fees and commission including underwriting commission, as applicable | ₹19.94 Cr |
| Commission/processing fee for SCSBs, Sponsor Banks, Bankers to the Offer and fee payable to the Sponsor Bank for Bids made by RIBs and Eligible Employees, Brokerage, underwriting commission and selling commission and bidding charges for Members of the Syndicate, Registered Brokers, RTAs and CDPs | ₹2.98 Cr |
| Fees payable to the Registrar to the Offer | — |
| Fees payable to other parties, including but not limited to Statutory Auditors, Independent Chartered Accountant, industry expert and Independent Chartered Engineer | ₹3.69 Cr |
| Others | — |
| Listing fees, SEBI filing fees, upload fees, BSE & NSE processing fees, book building software fees and other regulatory expenses | ₹5.28 Cr |
| Printing and distribution of issue stationery | ₹3.28 Cr |
| Advertising and marketing expenses | ₹11.80 Cr |
| Fees payable to legal counsels | ₹4.43 Cr |
| Miscellaneous | ₹1.79 Cr |
Registrar & lead managers
Registrar
Kfin Technologies Ltd.Lead managers
- ICICI Securities Ltd.
Offer documents
Data is reconciled from multiple public IPO sources. Official exchange filings and offer documents remain the source of truth. Last verified 2026-09-15.
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