The Rs 740 crore IPO of Azad Engineerings, supported by Sachin Tendulkar, comprises of a fresh issue of shares valued at Rs 240 crore and an offer to sell shares valued at Rs 500 crore.
On the first day of bidding, December 20, the Sachin Tendulkar-backed Azad Engineering IPO was completely subscribed, drawing enthusiastic bids from both retail and high net worth individuals (HNI). Several brokerages have responded favorably to the public offer and encouraged subscribing for listing and long-term advantages.
In addition to Tendulkar, the company also has investors who are well-known athletes including PV Sindhu, Saina Nehwal, and VVS Laxman. In the IPO, none of them are selling off any shares.
As to the RHP, Tendulkar held 4.38 lakh shares as of March 2023, having purchased them at an average cost of Rs 114.10. Each of Laxman, Nehwal, and Sindhu possessed 43,800 shares, which they had purchased for an average of Rs 228.17.
Taking into account the higher price range now, their first.
