Sachin’s investment company got off to a good start, with shares listed at such a premium.

Sachin Tendulkar’s investment company Azad Engineering made a good start in the stock market on Thursday. The recent IPO of the company received a great response in the market. After this, Azad Engineering shares were listed in the market today and the share entered the market at a premium of 37%.

The trend in the gray market was indicating that the listing of the shares could fetch a good premium. However, this morning, just before the listing, Azad Engineering’s GMP fell slightly to close to 50 percent. After the market opened, its share was listed on the NSE at Rs 720, meaning it fetched a premium of 37.40 per cent.

Investors made a lot of money

Azad Engineering’s IPO opened on December 20 and remained open for bidding till December 22. The company had fixed a price band of Rs 499 to Rs 524 in the IPO. There were 28 shares in one lot of the company’s IPO. Thus, an investor needed a minimum of Rs 14,672 to bid in the IPO. Now the price of one lot has increased to Rs 20,160 after listing. That means IPO investors have made a profit of Rs 5,488 per lot on the first day.

Sachin holds many shares in the company.

The total size of Azad Engineering’s IPO was Rs 740 crore. This includes a fresh issue of shares worth Rs 240 crore and an offer for sale of Rs 500 crore. Sachin Tendulkar has also invested in the company. Sachin had invested around Rs 5 crore in the company in March 2023. He had bought 14,607 shares of the company at Rs 3,423 per share. After the split and bonus, he now holds 3,65,175 shares of the company.

The IPO received a bumper response

Azad Engineering is a decades-old company, founded in 1983, that manufactures aerospace components and turbines. The company’s IPO received an overwhelming response in the market and was oversubscribed 83.04 times. The IPO in the QIB category was subscribed the most at 179.64 times. There was 90.24 times subscription in NII category and 24.51 times in retail category.

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