The Azad Engineering IPO commenced on December 20, 2023, and concluded on December 22, 2023. The allotment of shares took place on December 26, 2023, and the initiation of refunds began on December 27, 2023. The shares were credited to the demat accounts of investors on December 27, 2023. Finally, the listing of Azad Engineering on the stock exchange occurred on December 28, 2023.
The Azad Engineering IPO was priced at ₹499 to ₹524 per share, with a lot size of 28 shares. The total issue size was ₹740.00 crores, comprising a fresh issue of ₹240.00 crores and an offer for sale of ₹500.00 crores. The IPO was listed on both the NSE and BSE.
In terms of quota reservations, the QIB (Qualified Institutional Buyers) quota was reserved for 20% of the shares, the NII (Non-Institutional Investors) quota was reserved for 15% of the shares, and the retail quota was reserved for 35% of the shares.
Azad Engineering IPO Basic Details
| Company Name | Azad Engineering Limited |
| Domain of Company | Manufacturer of Aerospace Components and Turbines |
| Azad Engineering IPO GMP Today | ₹370 |
| Azad Engineering IPO Listing Gain | 70.61% |
| Azad Engineering IPO Open Date | December 20, 2023 |
| Azad Engineering IPO Close Date | December 22, 2023 |
| Azad Engineering IPO Allotment Date | December 26, 2023 |
| Azad Engineering IPO Listing Date | December 28, 2023 |
| Face Value | ₹2 per share |
| Price | ₹499 to ₹524 per share |
| Lot Size | 28 Shares |
| Issue Size | 14,122,138 shares of ₹2 (aggregating up to ₹740.00 Cr) |
| Fresh Issue | 4,580,153 shares of ₹2 (aggregating up to ₹240.00 Cr) |
| Offer for Sale | 9,541,985 shares of ₹2 (aggregating up to ₹500.00 Cr) |
| Issue Type | Book Built Issue IPO |
| Listing At | NSE, BSE |
| Company Promoters | Rakesh Chopda |
Azad Engineering IPO GMP Today:
| Date | GMP | Listing Gain | Kostak | Subject to |
| Today | ₹370 | 70.61% | – | – |
| 21 December 2023 | ₹440 | 83.97% | – | – |
Azad IPO Details:
Azad Engineering Limited started in 1983 and makes parts for airplanes and turbines. They sell these to companies that build planes, work in defense, and deal with energy, oil, and gas.
Azad Engineering’s products are super high-tech, important, and necessary.
As of September 30, 2023, they made ₹1,142.92 million from selling energy industry blades. They have customers in the USA, China, Europe, the Middle East, and Japan.
The company has four factories in Hyderabad, Telangana, India. These places can make really precise parts and cover a total space of about 20,000 square meters. They’re also planning to open two more factories in Tuniki Bollaram village and Mangampet village, both in Telangana. These will be huge, with 94,898.78 and 74,866.84 square meters of space.
Azad Engineering’s main office is in Hyderabad, Telangana, India, and they have between 201 and 500 employees.
Azad Engineering IPO More Details Click Here
Azad Engineering IPO FAQs
When is Azad Engineering IPO open?
Azad Engineering IPO will open on 20 December 2023.
When is Azad Engineering IPO Close?
Azad Engineering IPO will be closed on 22 December 2023.
What is Azad Engineering IPO GMP Today?
The Azad Engineering IPO GMP aka Grey Market Premium is ₹370.
What is Azad Engineering IPO Kostak Rates Today?
The Azad Engineering IPO Kostak Rate is ₹000.
What is Azad Engineering IPO Subject to Sauda Price Today?
The Azad Engineering IPO subject to sauda rates is ₹000.
Azad Engineering IPO Expected Returns?
The Azad Engineering expected return is 70.61%.
How much will be the listing gain in Azad Engineering IPO?
Azad Engineering IPO will get listing gain of 70.61%. (Approx.)
