Azad Engineering Limited IPO

Azad Engineering's IPO offers INR 240 crore fresh shares and a 500 crore equity share sale. Funds aim for capex, debt, and general corporate needs.

Important Dates

IPO Date: Dec 20 to Dec 22, 2023 IPO Listing Date: Dec 28, 2023 IPO Price: INR 499-524 per share IPO Lot Size: 28 Shares IPO Total Issue Size: INR 740 crores

Fundamental Analysis

Azad Engineering's financials reveal variable profits, rising liabilities, and declining RoNW. Further research advised before IPO investment.

Peer Comparison

Azad Engineering's IPO presents moderate figures in Total Income (₹2,615.21M), RoNW (4.23%), and EPS (₹1.79). Lagging P/E ratio against peers indicates competitive challenges ahead.


Azad Engineering aims to bolster manufacturing, technology, and innovation with IPO funds. Debt reduction, corporate objectives, and expenses are also prioritized.

Risks And Challenges

Azad Engineering heavily relies on top clients for 63% of revenue, posing risk. Facing facility dependence and operational vulnerabilities, mitigated by quality control measures.

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