Azad engineering ipo subscription status

Azad engineering ipo subscription status

Azad Engineering IPO subscription status: : IPO got subscribed by 80.65 times. IPO got subscription for 81.64 crore shares against issue of 1.01 crore shares which is 80.65 times of the shares offered.

Azad engineering ipo subscription status category wise

Investor TypeShares offeredShares SubscribedShares Subscribed(x)
Qualified Institutional Buyers28,08,85250,46,38,624179.66
Non- Institutional Buyers21,70,10818,99,88,23287.55

azad engineering iPO schedule

IPO open for subscriptionDecember 20, 2023
IPO close for subscriptionDecember 22, 2023
Allotment of sharesDecember 26, 2023
Listing DateDecember 28, 2023

azad engineering IPO details

Azad Engineering IPO is going to list on stock exchange on December 28, 2023. It will list on the NSE and BSE stock exchange.

Azad Engineering IPO opens for subscription on December 20, 2023 and closes on December 22, 2023. The IPO Price range of per share is ₹499 to ₹524. The total issue is of ₹ 740 crores from which ₹ 240 crores will raise from fresh issue of shares and 500 crores from offer for sale.

Azad Engineering IPO lot size for an application is 28 shares per lot which comes to ₹14,672.

About Azad Engineering

Azad Engineering was originally incorporated as ‘Azad Engineering Private Limited’ at Hyderabad, Telangana, a private limited company. Subsequently, the name of the Company was changed to ‘Azad Engineering Limited’ pursuant to the conversion of Company from a private limited company to a public limited company and a fresh certificate of incorporation dated September 5, 2023, was issued by the RoC.

Azad Engineering is one of the key manufacturers of our qualified product lines supplying to global original equipment manufacturers (“OEMs”) in the energy, aerospace and defence, and oil and gas industries, manufacturing highly engineered, complex and mission and life-critical components.

Their components have been supplied to countries such as USA, China, Europe, Middle East, and Japan since our inception. Their revenue was increased from ₹1,240.00 million in Financial Year 2020 to ₹2,516.75 million in Financial Year 2023 (CAGR of 27% between Financial Years 2020 and 2023) with an adjusted EBITDA margin of 31.61% in Financial Year 2023.

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