6,660,630 Equity Shares of Azad Engineering Limited are subject to a Lock-Up Agreement Ending on 28-JUN-2024. These Equity Shares will be under lockup for 188 days starting from 23-DEC-2023 to 28-JUN-2024.

Details:
In accordance with Regulation 14 and Regulation 16(1) of the SEBI ICDR Regulations, an aggregate of 20% of the fully diluted post-offer equity share capital of the company held by the promoter, shall be locked in for a period of three years, or such other period as prescribed under the SEBI ICDR Regulations, as minimum promoter?s contribution from the date of allotment (?promoter contribution?). The entire pre-offer equity share capital of the company (other than the equity shares held by the Promoter) will be locked-in for a period of six months from the date of Allotment.

In addition to 20% of the post-offer shareholding of the company held by the Promoter and locked-in for a period of three years and the Promoter?s shareholding in excess of 20% of the post-offer equity share capital which shall be locked in for a period of one year.