Sachin Tendulkar gained more than Starc ?
Players in IPL get attention for the auction money they get, IPL has been a marquee brand in the world in franchise cricket, it is known for money and fame, many cricketing stalwarts got recognition from IPL and with the better performance they represented their country as well, many of them became millionaires with the single-season game but few players are still a boss in cricketing legacy.
Sachin Tendulkar’s Investment in Azad Engineering IPO has gained him a profit of 26.5 crores more than the highest from the top earner from the IPL franchise list. During this IPL mini-auction, Mitchell Starc was the highest bid gainer in IPL history which is 24.75 crores.
Sachin get 531% return on Investment
Sachin Tendulkar made an investment of rupees 5 crores nine months ago in Hyderabad based Azad Engineering IPO which debuted in stock exchange today . in returns he got staggering profit of 531% of its investment . Sachin had invested 5 crores as equity in Azad Engineering which is working in field of global OEMs in energy , aerospace, defense, and oil & gas sectors .
This investment madea huge return to Sachin which is a national profit of 26.5 crores in IPO, he surpassed Mitchell Starc staggering IPL auction bid which was 24.75 crores, though the Mitchell starc became most expensive cricket player in IPL history , Sachin surpassed him easily without putting himself in IPL bid.
Sachin Total Investment
Not only Sachin Tendulkar but Indian Badminton Player PV Sindhu , Saina Nehwal and Indian Cricketing Legend VVS Laxman also got huge Gain from same IPO .
As per the media reports Tendulkar had 432210 shares at an average acquisition of cost rupees 114.1 per shares after a stock split and bonus issue before IPO, but in smart move he chosen to not divest his stake in rupees 740 crore IPO . it was open at rupees 720 on NSE , a 37,4 premium over the issue price of Rs 524 .so the value of his initial investment of rupees 5 crores now become 31.5 crores .
Stellar Debut of Sachin’s Backed IPO
Sachin Tendulkar has backed Azad Engineering IPO and it made a bumper debut on exchange on December 28th .After the debut the stock fetched the grey market premium (GMP) of rupees 205 in the unlisted market , the issue was priced in the range of rupees 499 to 524
The IPO gained Profit for Sachin , PV Sindhu, Saina and VVS Laxman
The IPO not only gain huge profit to Sachin to make him more wealthier but here you will really enjoy to know that with huge move and investment interest made PV Sindhu ,Saina Nehwal and Stylist legendary cricketer VVS Laxman huge profit . After Sachin they each only had invested rupees 1 crore. their acquisition cost stands at rupees 228.17 per share and had gained them 215 % as return . so their valuation become 3.15 cores.
Expert Opinion on IPO Sachin invested
As per expert Opinion , Azad Engineering had potentially very strong fundamentals and growth hold gives indicator in manufacturing sector to attract the investors even who hold IPO shares might consider to retain them . they also advises cautiousness and setting a stop loss at around rupees 650 due to valuation and potential risks.
The Azad Engineering IPO is really an example of top notch investors interest . it stands with 80.6 times subscription , 179 times heavily subscribed by QIBs and 87 times NIIswith retail segment at 23.7 times .
The IPO included a fresh equity issue of rupees 240 crores and an offer for sale OFS of rupees 500 crores. Promoters Rakesh Chopdar , Investor Piramal Structure Fund , and DMI Finance offloaded their stake under the OFS.
Azad Engineering where Sachin Invested in IPO
Talking about Azad Engineering , they are offering services key OEMs in aerospace, defense and turbine manufacturing , giving services to manufacturing giants like General Electric, Honeyball International, and Siemens Energy among all others . they caters 70 percent of gas turbine market in Industry.