Azad Engineering listing: Sachin Tendulkar on a roll as his Rs 5 cr turns to Rs 32 cr

The shares of Azad Engineering Company, which has investments from legendary sportspersons like Sachin, VVS Laxman, PV Sindhu and Saina Nehwal, were listed on the stock exchanges on Thursday. Interestingly, legendary cricketer Sachin Tendulkar's investment increased seven times.

New Delhi:The shares of Azad Engineering Limited were listed on stock exchanges on Thursday. It debuted near Rs710 on the BSE at a premium of 35.49 per cent compared to the issue price of Rs 524. It started trading near Rs 720 after recovering 37.40 per cent on NSE. The market value of the company is Rs 4,219.19 crore. Those who were allotted shares in the IPO invested at least Rs.14,672 for at least 28 shares. They got a profit of Rs 5,488 per lot in the listing.

It is known that Azad Engineering's IPO, which ended last Friday, received a response of 80.60 times. Along with fresh shares worth Rs.240 crore, shares worth Rs 500 crore were sold under 'Offer for Sale'. The price range for the IPO has been fixed at Rs 499-524. The company said the funds raised will be used for capital expenditure, debt repayments, and general corporate purposes. Azad Engineering supplies its products to companies belonging to the aerospace, defence, energy and oil industries.

Popular companies like General Electric, Honeywell International, Mitsubishi Heavy Industries, Siemens Energy, Eaton Aerospace and MAN Energy Solutions are customers of Azad Engineering.

Famous sportspersons like Sachin Tendulkar, Saina Nehwal, VVS Laxman, PV Sindhu and Nikhat Zareen have stakes in Azad Engineering. After the listing, Tendulkar's investment value increased almost seven times.

In March this year, he bought 14,607 shares at Rs.3,423 per share. Later, the company divided each share of Rs 10 face value into five shares of Rs 2 face value (stock split). Also issued five more shares as a bonus for each share.

Taking all these into account, Tendulkar's shares reached 4.5 lakhs. As a result, the average purchase price per share was Rs.110. He did not sell his shares under the offer for sale in the latest IPO. According to this calculation, he has invested around Rs 5 crore. As per the latest share price, it has reached around Rs 32 crore

(Note: Investing in the stock market is a risky affair. This news/article is for information only. Investing in the stock market is purely your personal decision)