Azad Engineering IPO Allotment Status: On Tuesday, December 26, Azad Engineering Ltd. completed the allocation of its shares for its initial public offering (IPO), and interested parties can monitor the progress online. Via the BSE website or the registrar’s official website, investors who submitted applications for Azad Engineering’s ₹740 crore initial public offering (IPO) can monitor the status of their share allotment.
Investors responded favorably to Azad Engineering’s public offering during the three days of the company’s initial public offering (IPO) bidding procedure, which ended last week.
During the bidding period, which ran from December 20 to December 22, subscriptions to the issue were made a total of 80.65 times.
This includes bids for shares in the retail category that were 23.71 times higher than the limit set aside for the segment, and shares subscribed at an impressive 87.61 times higher than the non-institutional investors’ category.
Azad Engineering offered 28 equity shares in its first public offering (IPO) at a price between Rs 499 and Rs 524 per share. Subscriptions for the issue were accepted from December 20 to December 22. Through its primary offering, which comprised an offer-for-sale (OFS) of up to 95,41,985 equity shares and a fresh share sale of Rs 240 crore, the company raised about Rs 740 crore.
Azad Engineering is a 1983-founded company that produces turbines and parts for aircraft. Original equipment manufacturers (OEMs) in the aerospace, defense, energy, and oil and gas sectors are the company’s target market. The products of Azad Engineering are essential, intricate, mission-critical, and well-engineered.
According to the RHP that Azad Engineering submitted, Sachin Ramesh Tendulkar contributed around Rs 5 crore to the business in March 2023. He purchased 14,607 equity shares in the firm for Rs 3,423, which were then converted into 3,65,175 equity shares following a stock split and bonus issue. Sachin’s holdings were valued at an average of Rs 136.92 each.
The book running lead managers of the Azad Engineering IPO are Axis Capital, ICICI Securities, SBI Capital Markets, and Anand Rathi Shares & Stock Brokers. Kfin Technologies is the issue’s registrar. The company’s shares will be listed on the BSE and NSE; the tentative listing date is Thursday, December 27, 2018.
On the IPO application check page of the BSE website, investors who purchased shares in Azad Engineering can verify the status of their allocation. Check-in equity: Under “I am not a Robot,” choose Azad Engineering Limited from the drop-down menu; enter the application number and PAN card number before checking in, then click the “Submit” button.
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