Azad Engineering Debuts on Stock Exchange with a 37% Premium, Sporting Icons Sachin Tendulkar and Others Witness Substantial Gains

Azad Engineering, a prominent defence equipment manufacturer, made its stock market debut, opening at a 37% premium to its issue price of ₹524. This marks the final listing of 2023, capturing significant attention in the financial realm.

The company boasts a star-studded lineup of investors, with marquee sportspersons such as Sachin Tendulkar, Saina Nehwal, VVS Laxman, and PV Sindhu holding stakes. Post-listing, Sachin Tendulkar’s investments have surged by an impressive 7x from his initial acquisition price.

In March of the current year, Tendulkar acquired 14,607 shares of Azad Engineering at an average price of ₹3,423 per share. Before the IPO, the company executed a stock split, dividing one share with a face value of ₹10 into five shares with a face value of ₹2. Additionally, the issuance of bonus shares, providing five free shares for every one held, further enhanced shareholder value.

Adjusted for these corporate actions, Sachin Tendulkar now holds approximately 4.5 lakh shares of Azad Engineering, with an average acquisition price of ₹110 per share. Remarkably, he did not participate as a selling shareholder in the company’s ₹740 crore IPO. At the current market price, Tendulkar’s stake in Azad Engineering is valued at ₹31.5 crore.

Other notable investors, including VVS Laxman, boxing champion Nikhat Zareen, and badminton stars Saina Nehwal and PV Sindhu, were issued shares at an average price of ₹6,845 per share, underscoring the company’s appeal to the sporting fraternity as well as its successful market debut.