Azad Engineering IPO Sees Robust Demand, Gears Up for Stock Exchange Debut

Australian Premium

December 26, 2023

New Delhi, India

Azad Engineering IPO

Hyderabad-based Azad Engineering, specialising in aerospace components and turbines, is set to make waves in the stock market as its Initial Public Offering (IPO) receives an overwhelming response.

High Subscription Indicates Investor Confidence

The Azad Engineering IPO, which opened on December 20 and closed on December 22, has generated substantial investor interest. The subscription rate soared to 80.6 times, with bids pouring in for 81.59 crore equity shares against the 1.01 crore shares offered.

Qualified Institutional Buyers (QIBs) led the pack, subscribing 179.66 times, highlighting institutional confidence in the company’s potential. Non-institutional investors and retail participants also showed strong interest, with subscription rates of 87.55 times and 23.71 times, respectively.

Listing Date and Price Band

Investors eagerly await the listing of Azad Engineering shares on December 28. The price band for the IPO was set between ₹499 to ₹524 per share, reflecting a balanced valuation that attracted diverse investor categories.

Grey Market Premium Reflects Positive Market Sentiment

In the unofficial market, Azad Engineering shares are currently trading at a Grey Market Premium (GMP) of ₹350 per share. This premium, indicating the demand for shares before official listing, underscores positive market sentiment and potential strong performance post-listing.

Looking Ahead: Market Anticipation

As Azad Engineering gears up for its stock market debut, industry observers and investors are keenly watching for market reactions. The company’s foray into the stock market signals a positive outlook, and the strong subscription rates suggest confidence in its growth prospects.

Also Read: Adani Group Secures $6 Billion Global Investments, Boosting Market Confidence

Check Latest On IPO Watch


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