Updated Dec 26, 2023 | 02:46 PM IST
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BIG RETURNS for Sachin Tendulkar? How much can ‘master blaster’ make if IPO lists at current GMP
The company’s IPO was a fresh issue of up to Rs 240 crore and offer for sale of Rs 500 crore. The price range for the offer is Rs 499-524 a share. It opened the issue for subscription between December 19 to December 22. The share allotment is expected to be finalised on Tuesday, December 26.
Azad Engineering IPO Listing Date
The Sachin Tendulkar-backed firm is expected to get listed on or about Thursday, December 28, according to its RHP filed with market regulator SEBI. The document also shows that the cricketing legend made an investment of Rs 5 crore in the company in March this year.
Sachin Tendulkar’s Investment in Azad Engineering
Going by the company’s RHP, Tendulkar picked up equity worth about Rs 5 crore in Azad Engineering on March 6 at Rs 3423 per share. Following a stock split and bonus issue ahead of the IPO, Tendulkar now owns 438,210 shares of the company.
How Much Can ‘Master Blaster’ Make on Azad Engineering Listing
The legend can make multibagger returns from the IPO in a span of just 9 months. The IPO is currently commanding a GMP of around Rs 311, which indicates that the stock can get listed at Rs 835 apiece. At this price, Tendulkar’s Rs 5 crore investment would swell to a whopping Rs 36.5 crore. This is a massive gain of Rs 31.5 crore in just about 9 months.
Apart from Tendulkar, 3 other sports personalities – PV Sindhu, Saina Nehwal and VVS Laxman – have invested in the company. Each of their investment is worth Rs 9,993,700 in the company.
(Disclaimer: The above article is meant for informational purposes only, and should not be considered as any investment advice. ET NOW DIGITAL suggests its readers/audience to consult their financial advisors before making any money related decisions.)
Omprakash Tiwary is a business writer who delves into the intricacies of the corporate world. With a focus on finance and economic landscape. He offers readers valuable insights into market trends, entrepreneurship, and economic developments.
