Shares of Azad Engineering, the defence equipment manufacturer, listed at an 37% premium to its issue price of ₹524. This is the last listing of 2023.
The company has multiple marquee sportspersons as its investors, including Sachin Tendulkar, Saina Nehwal, VVS Laxman, and PV Sindhu.
In March this year, Tendulkar was issued 14,607 shares of the company at an average price of ₹3,423 per share.
Ahead of its IPO, the company then split its stock from one share with a face value of ₹10 into five shares of face value of ₹2.
Additionally, the company also issued bonus shares to the tune of five free shares for every one share held.
Adjusted for the bonus and stock split, Sachin Tendulkar currently holds close to 4.5 lakh shares of the company with an average acquisition price of ₹110 per share. He was not among the selling shareholders in the company's ₹740 crore IPO.
Based on the current market price, Sachin Tendulkar's stake in Azad Engineering currently stands at ₹31.5 crore.
Other than Sachin, investors like VVS Laxman, boxing champion Nikhat Zareen and Badminton stars Saina Nehwal and PV Sindhu were issued shares at an average price of ₹6,845 per share.
First Published: Dec 28, 2023 10:03 AM IST
