Azad Engineering share listing: Sachin Tendulkar’s ₹5 crore turns to ₹31.55 crore in 9-month
Sachin Tendular net worth: Azad Engineering share price today opened on NSE at ₹720 apiece levels, delivering over 37 per cent listing premium to the lucky allottees of its initial public offer. However, one of its ace investors and cricketing icon Saching Tendulkar earned much higher than the allottees becuase he chose to invest in the company nine-month ago in pre-IPO time. As per the information available in DRHP of Azad Engineering IPO, Saching Tendulkar’s average cost of one share in the company is around ₹114.10.
On 6th March 2023, Saching Tendulkar invested ₹5 crore in Hyderabd-based Azad Engineering Ltd by picking up stake in the company. Following stock split and issuance of bonus shares by the aerospace components and turbines maker company, average cost of share acquisition by Sachin Tendulkar comes at ₹114.10 per equity share. Sachin owns 4,38,210 shares of the company.
Impact on Sachin Tendulkar’s net worth
Sachin Tendulkar owned 4,38,210 Azad Engineering shares in pre-IPO phase by investing ₹5 crore in the company on 6th March 2023. Today, Azad Engineering shares listed on NSE at ₹720 apiece levels. This means, with just listing of Azad Engineering share price on NSE, absolute value of Sachin Tendulkar’s stock acquisition surged from ₹114.10 ( ₹5,00,00,000 / 4,38,210) per share levels to ₹720 apiece levels. In other words, Sachin Tendulkar’s absolute value of ₹5 crore surged to ₹31.55 crore [(720/114.10) x 5,00,00,000].
For simple mathematics, Sachin Tendulkar’s net worth in Azad Engineering Ltd is listing price of ₹720 nultiplied by total number of shares owned by Sachin Tendulkar (4,38,210).
Azad Engineering IPO worth ₹740 crore opened for subscription on 20th December 2023. The book build issue was offered at a price band of ₹499 to ₹524 per equity share. The public issue listed today on BSE and NSE at ₹710 and ₹720 per share respectively.
Disclaimer: The views and recommendations made above are those of individual analysts or broking companies, and not of Mint. We advise investors to check with certified experts before taking any investment decision.
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Published: 28 Dec 2023, 02:27 PM IST
Ganesh
http://ganesh@finplay.inFinance enthusiast, Mutual fund expert.