Azad Engineering shares hit new record high. The shares of this company, which is involved in the heavy electrical equipment industry, have reached their highest level yet. Azad Engineering shares rose more than 8 percent to Rs 2,687 on the BSE on Thursday. The company’s shares have risen more than 79 percent in the last five months. Famous cricketer Sachin Tendulkar had also invested heavily in Azad Engineering.
Master Blaster Sachin Tendulkar had invested Rs 5 crore in Hyderabad-based company ‘Azad Engineering’ and bought shares in the company. After the share split and bonus shares, Sachin Tendulkar got a share of Azad Engineering at Rs 114.10. Tendulkar had 4,38,210 shares of the company. Azad Engineering’s shares were listed on the NSE on December 28, 2023 at Rs 720. With the listing of the company, the value of Sachin Tendulkar’s investment of Rs 5 crore increased to Rs 31.55 crore. Azad Engineering’s shares have now reached Rs 2,687. It is not known whether Sachin Tendulkar has continued his investment in Azad Engineering or has sold his shares.
These celebrities also invested in Azad Engineering –
Apart from Sachin Tendulkar, former cricketer VVS Laxman, badminton player P.V. Sindhu and Saina Nehwal had also invested in Azad Engineering. PV Sindhu, Saina Nehwal and VVS Laxman had invested Rs 1 crore each in the company. These sports celebrities had bought shares of Azad Engineering at a price of Rs 228.17 per share. At the time of the company’s listing, the value of their investment had increased to Rs 3.15 crore. There is also no information about whether these celebrities have maintained their investment in the company or have sold their shares.
Notably, the price of shares in the IPO of Azad Engineering was Rs 524. The company’s IPO opened for investment on December 20, 2023 and remained open till December 22. The company’s IPO received a total of 80.65 times the investment.
The company’s IPO received 23.79 times the subscription from the general investor category. On the other hand, the Qualified Institutional Buyers (QIB) category was oversubscribed by 179.66 times. Azad Engineering’s shares have increased by more than 400 percent in less than 3 years compared to the IPO price.
