Azad Engineering block deal: Shares tumble up to 11%; check details

According to a report by CNBC-TV18, as many as 48 lakh shares, or 7.4% equity worth ₹780 crore, changed hands at an average price of ₹1,640 per share via block deals.

Last seen, the stock was trading at ₹1,619, down 7.68%.

Azad Engineering supplies products to global Original Equipment Manufacturers (OEMs) in the aerospace and defence, energy, and oil and gas industries.

The company's customers include General Electric, Honeywell International Inc., Mitsubishi Heavy Industries, Siemens Energy, Eaton Aerospace, and MAN Energy Solutions SE.

Azad Engineering Listing and IPO

Shares of Azad Engineering Ltd ended with a premium of over 29% against the issue price of ₹524 on the first day of trade on December 28, 2023.

The stock made its debut at ₹710, reflecting a jump of 35.49% from the issue price on the BSE. During the day, it zoomed 38.83% to ₹727.50. Shares of the company ended at ₹677.10 apiece, rallying 29.21%.

On the NSE, the stock listed at ₹720, up 37.40%. Shares of the company ended at ₹673.25 apiece, a jump of 28.48%.

The initial share sale of Azad Engineering received 80.60 times subscription on the last day of the offer.

The initial public offering (IPO) had a fresh issue of up to ₹240 crore and an offer for sale of ₹500 crore.

The IPO had a price range of ₹499-₹524 a share.

Proceeds from the fresh issue, the company had said, would be used for funding capital expenditure of the company, payment of debt, and general corporate purposes.

During Q4 FY25, Azad Engineering's revenue jumped 36.34% YoY to ₹130.30 crore. On a sequential basis, Azad Engineering reported a 3.78% jump in its revenue since the last three months.

Its net profit jumped 69.26% YoY from ₹25.27 crore logged in Q4 2024-2025. On a quarterly growth basis, Azad Engineering Ltd has generated a 5.64% jump in its net profits over the last three months.