The Azad Engineering IPO started on December 20, 2023, and ended on December 22, 2023. Shares were allocated on December 26, 2023, and refund processes began on December 27, 2023. On December 27, 2023, the shares were credited to investors demat accounts. Azad Engineering was officially listed on the stock exchange on December 28, 2023.
During the IPO, Azad Engineering offered shares at a price range of ₹499 to ₹524 per share, and the lot size was 28 shares. The total issue size was ₹740.00 crores, with ₹240.00 crores from new shares and ₹500.00 crores from shares for sale. The IPO was listed on both the NSE and BSE.
Regarding share reservations, 20% of the shares were allocated to Qualified Institutional Buyers (QIB), 15% were reserved for Non-Institutional Investors (NII), and 35% were set aside for retail investors.
Azad Engineering IPO Subscription Update Video
Azad Engineering IPO Subscription Status
The Azad Engineering IPO on December 21, 2023 was subscribed 11.59 times, with the retail category being subscribed 11.76 times, the NII (Non-Institutional Investor) category being subscribed 24.36 times, the QIB (Qualified-Institutional Buyers) category being subscribed 1.53 times.
| Category | Subscription |
| QIB | 1.53x |
| NII | 24.36x |
| Retail | 11.76x |
| Total | 11.59x |
Azad Engineering Limited IPO Basic Details
| Company Name | Azad Engineering Limited |
| Domain of Company | Manufacturer of Aerospace Components and Turbines |
| 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 |
About Azad Engineering Limited
Azad Engineering Limited started in 1983 and makes important stuff for airplanes and turbines. They sell these things to companies that make planes, tanks, energy machines, and oil and gas stuff.
The things Azad Engineering makes are super fancy, really complicated, and super important.
By September 30, 2023, they made ₹1,142.92 million by selling special blades for energy machines. They sell these things to customers in the USA, China, Europe, the Middle East, and Japan.
Azad Engineering has four big buildings where they make things in Hyderabad, Telangana, India. These buildings are good at making really precise parts, and they cover a total area of about 20,000 square meters. The company wants to build two more places in Tuniki Bollaram village in Siddipet district, Telangana, and Mangampet village in Sangareddy district, Telangana. These new places will be really big, with one covering 94,898.78 square meters and the other 74,866.84 square meters.
Azad Engineering’s main office is in Hyderabad, Telangana, India, and they have between 201 and 500 people working for them.
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Azad Engineering IPO FAQs
What is the start and end date of Azad Engineering IPO Subscription?
The Azad Engineering IPO started on December 20, 2023, and ended on December 22, 2023.
When does Azad Engineering IPO Subscription open?
The Azad Engineering IPO open on December 20, 2023.
When does Azad Engineering IPO Subscription close?
The Azad Engineering IPO Close on December 22, 2023.
What is the allotment date of Azad Engineering IPO?
The allotment date for Azad Engineering IPO is December 26, 2023.
When is the initial refund date of Azad Engineering IPO?
The initial Refund date for Azad Engineering IPO is December 27, 2023.
When were the shares credited to investors demat accounts for the Azad Engineering IPO?
The shares for the Azad Engineering IPO were credited to investors demat accounts on December 27, 2023.
When will Azad Engineering IPO be listed on the stock market?
Azad Engineering IPO stock market will be listed on December 28, 2023 at 10 am.
What was the price range of the Azad Engineering IPO shares?
The Azad Engineering IPO shares were offered at a price range of ₹499 to ₹524 per share.
What was the lot size for the Azad Engineering IPO shares?
The lot size for the Azad Engineering IPO shares was 28 shares.
What was the total issue size of the Azad Engineering IPO?
The total issue size of the Azad Engineering IPO was ₹740 crores.
How were the shares allocated among different types of investors for the Azad Engineering IPO?
20% of the shares were allocated to Qualified Institutional Buyers (QIB), 15% were reserved for Non-Institutional Investors (NII), and 35% were set aside for retail investors.
On which stock exchanges was the Azad Engineering IPO listed?
The Azad Engineering IPO was listed on both the NSE and BSE.
What is the Azad Engineering IPO Subscription Status?
Azad Engineering IPO is subscribed Times.
