Azad Engineering Limited IPO
Azad Engineering Limited was a mainboard IPO in the Heavy Electrical Equipment sector, offered at ₹499–₹524 per share to raise ₹740 crore. The issue was subscribed 80.65× overall (QIBs 179.66×, NIIs 87.61×, retail 23.79×). It listed on 28 Dec 2023 at ₹720 and closed its first day at ₹678, a listing gain of +29.3% versus the ₹524 issue price. It now trades around ₹2,445 (+366.7% versus the issue price).
Frequently asked questions
- How many times was the Azad Engineering Limited IPO subscribed?
- The Azad Engineering Limited IPO was subscribed 80.65× overall — 179.66× in the QIB category, 87.61× among non-institutional investors, 23.79× in retail.
- What were the Azad Engineering Limited IPO listing gains?
- Azad Engineering Limited listed on 28 Dec 2023 at ₹720, closing its first day at ₹678 — a listing gain of +29.3% versus the ₹524 issue price.
- What were the retail allotment odds for the Azad Engineering Limited IPO?
- Retail was subscribed 23.79×, so a single-lot application had roughly a 4.2% chance of allotment (about 1 in 24), and allotment was finalised on 26 Dec 2023.
- What was the price band and lot size of the Azad Engineering Limited IPO?
- The price band was ₹499–₹524 per share, with a minimum lot of 28 shares (₹14,672 at the upper band).
- Who were the registrar and lead manager for the Azad Engineering Limited IPO?
- KFin Technologies Limited (formerly known as Kfin Technologies Private Limited) was the registrar, and Axis Capital was the book-running lead manager.