December 29, 2023
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Table of Contents
- GMP
- Reviews
- Subscription
- Allotment
Azad Engineering IPO Listing Estimate!
Will update soon.
Azad Engineering Anchor Investors
Will provided detailed information soon.
What is the Subscription Status of Azad Engineering IPO?
Will provide updates once the IPO opens.
Who is the promoter of Azad Engineering IPO?
RAKESH CHOPDAR is the promoter of Azad Engineering ltd.
What is the business of Azad Engineering?
Azad Engineering is one of the key manufacturers of its qualified product lines supplying to global original equipment manufacturers (“OEMs”) in the aerospace and defence, energy, and oil and gas industries, manufacturing highly engineered, complex and mission and life-critical components. It manufactures complex and highly engineered precision forged and machined components that are mission and life-critical and hence, some of its products have a “zero parts per million” defects requirement. It competes with manufacturers from China, Europe, USA and Japan. Its customers include global OEMs across the aerospace and defence, energy, 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.
Its components have been supplied to countries such as USA, China, Europe, Middle East, and Japan since our inception. Accordingly, it is a key link in the global supply chain for OEMs.
Its products include 3D rotating airfoil/ blade portions of turbine engines and other critical components for (a) defence and civil aircrafts and spaceships, and (b) gas, nuclear and thermal turbines used in industrial applications or energy generation. The demand for such precision, forged and machined components is driven by requirements relating to aircrafts (commercial and military), energy turbines (industrial, gas, nuclear and coal), amongst others.
The Company’s aerospace and defence products include airfoils/ blades and components for engines, auxiliary power units (“APUs”), hydraulics, actuating systems, flight controls, fuel and inerting sections of commercial and defence aircrafts and spacecrafts, among other defence systems and various critical components for missiles. It has supplied critical components to major commercial aircraft manufacturers such as B737, B737 Max, B747, B777, B777X, A320, A350, A355, A350 XWB, Gulfstream G550 and is currently in discussions for supply of components for new engine platforms to various kinds of aircraft manufacturers. In the energy industry, the Company produces high-precision rotating and stationary 3D airfoils/ blades, special machined parts and combustion component assemblies for land-based turbines with applications in industrial and energy plants using different fuel types such as nuclear, hydrogen, natural gas and thermal. For the oil and gas industry, it manufactures components of drilling rigs such as drill bits and other critical components that are used in drilling equipment and are part of exploration and production phase.
The Company has been in operations for 15 years and it has substantial experience as a tier 1 supplier of high precision forged and machined components in the aerospace and defence and energy industries with sales in 15 countries in the period between March 31, 2021, and June 30, 2023, in the industries in which it operates.
Most of its revenues are derived from exports to global OEMs, backed by long-term contracts and as
of June 30, 2023, 90.68% of its total revenue was from contracts with customers located outside India.
The components manufactured by it are critical for the functioning of, inter alia, worldwide air travel (military and civil) and, energy applications (nuclear, gas, oil and thermal). Considering that it manufactures life-critical and mission-critical components, the margin for error is zero in its manufacturing process for some of its components, which it adheres to by way of its strong quality control systems. Airfoils/ blades and other products are designed to operate at extreme conditions and require a multi-level safety protocol as such engine products are life critical.
Among the addressable markets for the Company, the market for aerospace and defence components was the largest at Rs 990 billion in Financial Year 2022 and is expected to go up to Rs. 1,530 billion by Financial Year 2027 with the highest CAGR of +9% by 2027. It supplies components to six of the key manufacturers in the aerospace and defence industries.
The overall addressable market across aerospace and defence and energy components for its Company is expected to grow at +7% CAGR from Rs 1,280 billion in Financial Year 2022 to Rs 1,810 billion in Financial Year 2027 2027. Additionally, the addressable market for oilfield drilling components is expected to grow at +4% CAGR by Financial Year 2027.
For more information, click www.azad.in
What is the Object of Azad Engineering IPO?
The Offer comprises of Fresh Issue and the Offer for Sale.
The Net Proceeds of the Fresh Issue, i.e., gross proceeds of the Fresh Issue less our Company’s share of the Offer related
expenses are proposed to be utilized in the following manner:
1. Funding capital expenditure of our Company;
2. Repayment/prepayment, in part or full, of certain of our borrowings availed by our Company; and
3. General corporate purpose
Azad Engineering IPO GMP, Particulars & Guidance
| Azad Engineering IPO Details | |
| IPO opens on | ? December, 2023 |
| IPO closes on | ? December, 2023 |
| Issue Type | Book Built Issue IPO |
| Issue Size | ? Sh /Rs 740 Cr |
| * Fresh Issue | – Sh /Rs 240 Cr |
| * Offer for Sale | ? Sh /Rs 500 Cr |
| Face Value per share: | Rs. 2 |
| Price Band | Rs. ? |
| Retail Discount | Rs 0 per share |
| Employee discount | Rs. 0 per share |
| Retail Lot Size | ? Shares |
| Listing will at | BSE, NSE |
| Shares offered in Azad Engineering? | Shares | Rs. in Cr |
| QIB (50 %) | X | X |
| NII (15 %) | X | X |
| RII (35 %) | X | X |
| Tata Motors Shareholders | – | – |
| Total Shares | _ | X |
| Retail portion will be oversubscribed by | X Forms. | |
| How to apply in Azad Engineering IPO ? | Amount Rs. | |
| Min Retail Application | ? Sh | ? |
| Max Retail Application | ? Sh | ? |
| Small HNI (Min) application | ? Sh | ? |
| Small HNI (Max) application | ? Sh | ? |
| Big HNI Application | ? Sh | ? |
| What is the timetable of Azad Engineering IPO? | |
| IPO opens on | ? December, 2023 |
| IPO Closes on | ? December, 2023 |
| IPO Allotment on | ? December, 2023 |
| Unblocking of ASBA | ? December, 2023 |
| Credit of Shares | ? December, 2023 |
| Listing on | ? December, 2023 |
| Registered Office of Azad Engineering | |
| 90/C, 90/D, Phase-1, I.D.A. Jeedimetla, Hyderabad 500 055, Telangana, India | |
| Who are the Lead Managers of Azad Engineering IPO? Axis Capital Limited ICICI Securities Limited SBI Capital Markets Limited Anand Rathi Advisors Limited |
|
| Registrar to IPO | |
| KFin Technologies Limited |
| Azad Engineering IPO Financial & Analytical Ratios | ||||
| Year | Total Income | Net Profit | EPS | RoNW |
| Rs. in Cr | Rs.in Cr | Rs. | % | |
| 2020-21 | 125 | 11.50 | 2.53 | 12.65 |
| 2021-22 | 199 | 29.45 | 6.49 | 25.37 |
| 2022-23 | 261 | 8.47 | 1.79 | 4.23 |
| Book Value of the Share on 31.03.2023 | Rs. | ? | ||
| BV of the Share after the FPO | Rs. | ? | ||
| Offer Price at Cap | Rs. | ? | ||
| Azad Engineering IPO Ratio Analysis |
|
| Price /EPS | ? |
| Price/Book Value Ratio | ? |
| Price/BV after IPO | ? |
How Azad Engineering IPO compares with the Peers?
Peer Comparison.
| As on date of DRHP | Total Income Rs. | Face | PE |
| Income | Value | Ratio of | |
| Rs. In Cr | Rs | ||
| Azad Engineering | 261.52 | 2 | ? |
| MTAR Technologies | 593.23 | 10 | 73.33 |
| Paras Defence | 230.65 | 10 | 82.28 |
| Dynamatic Technologies | 1325.53 | 10 | 91.23 |
| Triveni Turbine | 1290.17 | 1 | 89.12 |
| X | – | – | – |
# This is only coverage of News related to Grey Market. We do not deal in grey market premium, nor we recommend dealing in Grey Market. Investment decision based on Grey Market trends can be faulty.
Azad Engineering IPO Guidance
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