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Azad Engineering IPO: According to market analysts, the company's shares are trading with a premium of Rs 440 in the unlisted market, an upside of 84% over the issue price.
India added 14 new unicorns in 2022, taking the total count to 100, but most have not gone public yet due to regulatory hurdles and high costs.
On March 6, Tendulkar picked up equity worth about Rs 5 crore in the company, which provides engineering and technology solutions for global OEMs in clean energy, aerospace, defence and oil & gas spheres. Following a stock split and bonus issue ahead of the IPO, he now owns 438,210 shares of the company.
Azad Engineering is raising a total of Rs 740 crore via its initial stake sale in the fixed price band of Rs 499-524 per share in the lot size of 28 equity shares.
Azad Engineering IPO | The trading in equity shares on the bourses will commence with effect from December 28.