Former India captain Sachin Tendulkar reportedly received a 26.5 crore windfall when his investments in Azad Engineering increased sevenfold.
In March 2023, the renowned cricketer bought 5 crore, or 4.3 lakh shares at 114.10 apiece, in a defense equipment producer firm.
The value of 5 crore increased to almost 31.55 crore. The valuation increased dramatically when the firm was listed on the stock market on Thursday, December 28.
Azad Engineering Listed @ 720 ( NSE) i.e. 37.4% Premium
By how much has the wealth of some well known personalities like Sachin Ramesh Tendulkar, Venkatsai Laxman Vangipurapu & Saina Nehwal increased after this IPO#IPOListing #IPO #azadengineering pic.twitter.com/2OTYZE2NMQ— Varun Dubey (@VarunDubey85) December 28, 2023
DNA reported that Azad Engineering’s stocks saw a rise of 29.21 percent, reaching ₹677.10 each. The value of this company based in Hyderabad broke through a ₹4000 crore ceiling. 1.51 crore and 7.80 lakh shares changed hands on the National Stock Exchange and Bombay Stock Exchange.
The growth of Tendulkar’s profit outpaced Mitchell Starc, a cricketer recently recognized as the priciest-ever Participant in the Indian Premier League. Kolkata Knight Riders paid a whopping ₹ 24.75 crore to recruit this seasoned Australian bowler.
Famous sports figures including VVS Laxman, PV Sindhu, and Saina Nehwal also back Azad Engineering with their investments. The firm provides goods to worldwide Original Equipment Manufacturers (OEMs) spanning the defense, aerospace, and oil and gas sectors.
For several years, Tendulkar has guided the Mumbai Indians. By 2023, his estimated net worth reaches about ₹1350 crore.
Sachin Tendulkar congratulates South Africa for beating India in the first Test
Recently, Sachin Tendulkar praised South Africa’s bowlers. They made India lose twice, resulting in a win for South Africa. The score? An innings and 32 runs, all achieved in Centurion.
Additionally, KL Rahul and Virat Kohli, Indian batsmen, received kudos for their fighting spirit from Tendulkar, who himself is 50 years old. Despite the tough track, Dean Elgar, Marco Jansen, and David Bedingham from South Africa showcased stellar performances. Tendulkar noted South African batsmen found navigating the pitch challenging too.
These views were expressed by Tendulkar on X, previously known as Twitter:
“Well played South Africa! While I initially felt the South African team would’ve been unhappy after the 1st innings, their pace attack surpassed expectations and showcased remarkable skill in the 2nd innings, in spite of the pitch becoming more favorable for batting as the match progressed.”
Sachin Tendulkar
He continued:
“From whatever I watched, India’s shot selection left much to be desired. Throughout the Test, only a few batters, namely Elgar, Jansen, Bedingham, Virat Kohli, and KL Rahul truly seemed at ease with the bat, navigating the conditions with technique and poise.”
Sachin Tendulkar
On January 3, 2024, the second Test showdown is set to take place. The location is Newlands, Cape Town. That’s where the two teams will have their next clash.