Sachin Tendulkar makes his debut at Azad Engineering, and PV Sindhu's investment triples

 Sachin Tendulkar makes his debut at Azad Engineering, and PV Sindhu's investment triples

Sachin Tendulkar makes his debut at Azad Engineering, and PV Sindhu's investment triples

Saina Nehwal, PV Sindhu, and VVS Laxman's investments have increased thrice. Their adjusted purchase price was Rs 228.17, per the prospectus. Each of them own 44,000 shares.

Sports celebrities did not own any shares in the IPO that were being sold. Early in 2023, each of them purchased shares, and the corporation then divided its shares and awarded bonus shares.

Sachin Tendulkar's stake in Azad Engineering has increased significantly—it has increased six times since the stock's stunning launch. The company's shares, which the legendary cricket player owns, were purchased in March 2023 for an adjusted average cost of Rs 114.10. On December 28, the stock was floated for Rs 720 on the stock market.

Saina Nehwal, PV Sindhu, and VVS Laxman have quadrupled their investments in the meanwhile. Their adjusted purchase price was Rs 228.17, per the prospectus. They each own 44,000 shares.

Sports celebrities did not own any shares in the IPO that were being sold. Prior to the company's stock split and bonus share issuance in 2023, each of them had already purchased shares that were due.

Azad Engineering Limited was established in 1983 and produces turbines and parts for aircraft. The business provides its goods to original equipment manufacturers (OEMs) in the oil and gas, aerospace, military, and energy sectors. In Hyderabad, the firm has four production plants.

General Electric, Honeywell International, Mitsubishi Heavy Industries, Siemens Energy, Eaton Aerospace, and MAN Energy Solutions are a few of its esteemed clientele.

The majority of analysts had favorable things to say about the company's long-term contracts, steady clientele, and excellent revenue visibility. "We like AEL given its presence in a large-growth niche segment with high entry barriers, diverse product/customer portfolio, as well as powerful financial position," said Motilal Oswal Financial Services.

The IPO of the business received 80.6 subscriptions. The top purchasers were qualified institutional buyers, who exceeded the quota by 179.66 times. Additionally, of the percentage designated for them, high net worth people (non-institutional investors) and retail investors purchased shares 87.55 times and 23.71 times, respectively.

"We find that Azad has handed over better growth with similar return ratios when compared to several similar capital goods companies, and its valuations are broadly at par with the peer group," Nirmal Bang said.

The business plans to use the money from the latest offer to buy equipment and plant and pay off debt totaling Rs 138.19 crore. Up to September 2023, it had borrowed Rs 154.2 crore. The remainder will be used to basic business needs.