'God of cricket to God of market,' say netizens as Sachin Tendulkar gets 600% returns in 9 months after Azad Engineering lists at 37% premium

Master blaster Sachin Tendulkar's stock market acumen was praised on Thursday for his investment in Azad Engineering delivering him a whopping 600% returns. 

Shares of Azad Engineering Ltd on Thursday listed with a premium of over 37 per cent against the issue price of Rs 524.

The stock made its debut at Rs 710, reflecting a jump of 35.49 per cent from the issue price on the BSE. Later, it zoomed 38.83 per cent to Rs 727.50.

At the NSE, the stock listed at Rs 720, up 37.40 per cent. The company's market valuation stood at Rs 4,219.19 crore.

In March 2023, the veteran cricketer was allotted shares worth Rs 5 crore at Rs 3,425 per share. Adjusted for bonus and splits, Sachin Tendulkar's average purchase price is around Rs 100 per share. After Thursday's listing, Tendulkar's total investment size stood at Rs 31 crore, which is notional gains of Rs 26 crore. 

Other sportspeople like VVS Laxman, PV Sindhu, Saina Nehwal and Nikhat Zareen bought shares at Rs 6,000 per share and saw their investments triple within nine months. 

Netizens praised Tendulkar for negotiating share price at Rs 3,400-odd and said he's "both God of cricket and market". "If Sachin was an investor in my firm, I wouldn't mind alloting him shares at a discount," said an X user.

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.

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

The Initial Public Offering (IPO) had a fresh issue of up to Rs 240 crore and an offer for sale of Rs 500 crore.

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