Nine-Month Share Listing: Sachin Tendulkar’s ₹5 Crore Investment in Azad Engineering Transforms to ₹31.55 Crore

Nine-Month Share Listing: Sachin Tendulkar's ₹5 Crore Investment in Azad Engineering Transforms to ₹31.55 Crore

VoM News Desk | December 28, 2023 | 03:24 PM IST | Breaking News | Follow on Google News

Nine-Month Share Listing: Sachin Tendulkar’s ₹5 Crore Investment in Azad Engineering Transforms to ₹31.55 Crore/AFP

Nine-Month Share Listing: Sachin Tendulkar’s ₹5 Crore Investment in Azad Engineering Transforms to ₹31.55 Crore

Sachin Tendulkar, the cricket legend, has reaped substantial rewards from his strategic investment in Hyderabad-based Azad Engineering Ltd.

The company’s shares debuted on the National Stock Exchange (NSE) at ₹720 per share, marking a remarkable 37% listing premium from its initial public offering.

Tendulkar’s foresight proved lucrative as his investment in Azad Engineering, made nine months prior to the IPO during the pre-IPO phase, significantly outperformed the shares’ IPO allotment price.

His calculated move was highlighted in the Draft Red Herring Prospectus (DRHP) of Azad Engineering’s IPO, revealing his average acquisition cost per share at ₹114.10.

In March 2023, Tendulkar invested ₹5 crore in Azad Engineering, securing a stake in the company. Through subsequent stock splits and bonus share issuances by the aerospace components and turbines manufacturer, his per-share acquisition cost stood at ₹114.10. Tendulkar now holds 4,38,210 shares in the company.

The surge in Azad Engineering’s share price to ₹720 at the time of listing on the NSE signifies an impressive leap in the absolute value of Tendulkar’s initial investment.

His ₹5 crore investment catapulted to a staggering ₹31.55 crore due to the listing price surge, indicating an exponential increase in his net worth in Azad Engineering Ltd.

The Azad Engineering IPO, valued at ₹740 crore, commenced subscription on December 20, 2023, at a price band of ₹499 to ₹524 per equity share.

The public issue was listed today on both the Bombay Stock Exchange (BSE) and NSE at ₹710 and ₹720 per share, respectively.

Sachin Tendulkar’s astute investment decision in Azad Engineering has yielded exceptional gains, showcasing the potential for substantial returns through informed pre-IPO investments in promising ventures.

VoM News Desk

VoM News is an online web portal in jammu Kashmir offers regional, National & global news.