Sachin Tendulkar’s investment company Azad Engineering made a good start in the stock market on Thursday. The company’s recent IPO had received a very good response in the market. After that, today the shares of Azad Engineering were listed on the market and this share made its debut on the market with a premium of 37 percent.
The trend of the gray market was indicating that the listing of shares could happen with a good premium. However, this morning, just before the listing, there was some decline in the GMP of Azad Engineering and it came close to 50 percent. After the market opened, its share was listed on NSE at a price of Rs 720, i.e. it got a premium of 37.40 percent.
Investors earned so much
Azad Engineering’s IPO was opened on 20th December and remained open for bidding till 22nd December. The company had fixed the price band of Rs 499 to Rs 524 in the IPO. There were 28 shares in one lot of the company’s IPO. In this way, an investor needed at least Rs 14,672 to bid in the IPO. Now after listing the value of one lot has become Rs 20,160. That means IPO investors have made a profit of Rs 5,488 on every lot on the first day.
Sachin has so many shares of the company
The total size of Azad Engineering’s IPO was Rs 740 crore. This includes fresh issue of shares worth Rs 240 crore and offer for sale of Rs 500 crore. Sachin Tendulkar has also invested money in the company. Sachin had invested about Rs 5 crore in the company in March 2023. He had bought 14,607 shares of the company at the rate of Rs 3,423 per share. After split and bonus, he now holds 3,65,175 shares of the company.
IPO got bumper response
Azad Engineering is a decades-old company, established in 1983, which manufactures aerospace components and turbines. The company’s IPO received a tremendous response in the market and was subscribed 83.04 times overall. The IPO in QIB category was subscribed the maximum 179.64 times. There was 90.24 times subscription in NII category and 24.51 times subscription in retail category.
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