Trilegal and Khaitan &Co acted on Azad Engineering Limited's qualified institutions placement of 5,468,750 equity shares of face value of ₹2 each, aggregating to ₹700 crore.

Trilegal advised Azad Engineering on this QIP.

The Trilegal Capital Markets team advising on this QIP was led by Vinay Sirohia (Partner) with assistance from Vedansh Batwara (Associate), Shubh Dutta Ojha (Associate), and Animesh Tiwari (Associate).

Khaitan & Co acted as the legal counsel to the Book Running Lead Managers, i.e., ICICI Securities Limited, Goldman Sachs (India) Securities Private Limited and SBI Capital Markets Limited as to Indian law in relation to the QIP.

The transaction team consisted of Oishik Bagchi (Partner), Aayush Virani (Associate), Anshul Mordia (Associate), Kaushlendra Palawat (Associate) and Nibha Yadav (Associate), with guidance from Sudhir Bassi (Executive Director).

The funds raised will be used for capital expenditure, including growth initiatives and infrastructure development. The QIP was approved by the board on February 25, 2025, with ICICI Securities acting as one of the book-running lead managers. Following the announcement, Azad Engineering’s share price saw a 4.79% increase, highlighting strong investor confidence in the company's growth strategy.

Azad Engineering Limited is a key manufacturer of qualified product lines supplying to global original equipment manufacturers (“OEMs”) in the energy, aerospace and defence, and oil and gas industries, manufacturing highly engineered, complex and mission and life-critical components.

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