Sachin Tendulkar‘s Rs 5-crore funding made 9 months in the past has reaped staggering returns of 531% as Hyderabad-based Azad Engineering debuted on inventory exchanges right now. Again in March, Tendulkar acquired fairness value roughly Rs 5 crore in Azad Engineering, specializing in precision solid elements for world OEMs in power, aerospace, protection, and oil & fuel sectors.
This funding guess by Sachin Tendulkar has garnered a notional revenue of Rs 26.5 crore within the IPO, surpassing Mitchell Starc’s current file IPL deal value Rs 24.75 crore, in accordance with an ET report.By the way, Mitchell Starc turned the costliest participant within the IPL.
After a inventory break up and bonus challenge earlier than the IPO, Tendular held 438,210 shares at a median acquisition value of Rs 114.1 per share. Selecting to not divest his stake within the Rs 740-crore IPO proved a smart transfer, because it opened at Rs 720 on NSE, a 37.4% premium over the difficulty value of Rs 524. The worth of his preliminary Rs 5-crore funding now stands at Rs 31.5 crore.The IPO’s success has not solely made Tendulkar wealthier, but additionally introduced features to PV Sindhu, Saina Nehwal, and VVS Laxman, who every invested Rs 1 crore at twice Tendulkar’s entry value. Their acquisition value stands at Rs 228.17 per share, and has bagged them a 215% return, valuing their stake at Rs 3.15 crore.
Shivani Nyati, Head of Wealth at Swastika Investmart says that Azad Engineering’s robust fundamentals and development potential make it a sexy proposition for traders eyeing development within the manufacturing sector. She believes that these holding IPO shares would possibly take into account retaining them. Shivani additional advises cautiousness and setting a cease loss at round Rs 650 attributable to valuation and potential dangers.
This funding guess by Sachin Tendulkar has garnered a notional revenue of Rs 26.5 crore within the IPO, surpassing Mitchell Starc’s current file IPL deal value Rs 24.75 crore, in accordance with an ET report.By the way, Mitchell Starc turned the costliest participant within the IPL.
After a inventory break up and bonus challenge earlier than the IPO, Tendular held 438,210 shares at a median acquisition value of Rs 114.1 per share. Selecting to not divest his stake within the Rs 740-crore IPO proved a smart transfer, because it opened at Rs 720 on NSE, a 37.4% premium over the difficulty value of Rs 524. The worth of his preliminary Rs 5-crore funding now stands at Rs 31.5 crore.The IPO’s success has not solely made Tendulkar wealthier, but additionally introduced features to PV Sindhu, Saina Nehwal, and VVS Laxman, who every invested Rs 1 crore at twice Tendulkar’s entry value. Their acquisition value stands at Rs 228.17 per share, and has bagged them a 215% return, valuing their stake at Rs 3.15 crore.
Shivani Nyati, Head of Wealth at Swastika Investmart says that Azad Engineering’s robust fundamentals and development potential make it a sexy proposition for traders eyeing development within the manufacturing sector. She believes that these holding IPO shares would possibly take into account retaining them. Shivani additional advises cautiousness and setting a cease loss at round Rs 650 attributable to valuation and potential dangers.
The Azad Engineering IPO witnessed sturdy investor curiosity, with an 80.6 occasions subscription, closely subscribed by QIBs (179 occasions) and NIIs (87 occasions) with the retail section at 23.7 occasions.
The IPO included a contemporary fairness challenge of Rs 240 crore and a proposal on the market (OFS) of Rs 500 crore. Promoters Rakesh Chopdar, Investor Piramal Structured Fund, and DMI Finance offloaded their stakes beneath the OFS.
Learn From ET | Tendulkar’s funding in Azad Engineering
Azad Engineering providers key OEMs in aerospace, protection, and turbine manufacturing, catering to trade giants like Basic Electrical, Honeywell Worldwide, and Siemens Power, amongst others, accounting for 70% of the fuel turbine market share.
