Azad Engineering Limited has proposed an initial public offering of equity shares aggregating to ₹7,400 million, comprising a fresh issue aggregating to ₹2,400 million and an offer for sale aggregating to ₹5,000 million by existing shareholders including Piramal Structured Credit Opportunities Fund and DMI Finance Private Limited.

Axis Capital Limited, ICICI Securities Limited, SBI Capital Markets Limited and Anand Rathi Advisors Limited are the Book Running Lead Managers to this IPO.

Khaitan & Co is acting for the Book Running Lead Managers in this IPO.

The transaction team consists of Oishik Bagchi (Partner), Adrika Dhawan (Senior Associate), Tishita Mukherjee (Senior Associate), Abhishek Iyer (Associate), Kanchi Malhotra (Associate), Kaushlendra Palawat (Associate), Maniya Goyal (Associate).

The firm is also advising Piramal Structured Credit Opportunities Fund, as Indian Legal Counsel to the investor selling shareholder.

The transaction team consists of Thomas George (Partner), Poorvi M Jain (Senior Associate) and Aditya Yadav (Associate).

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