Azad Engineering IPO
Telangana-based Azad Engineering IPO successfully concluded its Rs 740-crore public offering on December 22, witnessing robust subscription figures as investors eagerly sought a stake in a company catering to original equipment manufacturers in the energy, aerospace, defence, and oil & gas sectors.
The public issue, held from December 20-22, saw an impressive over subscription of 80.6 times, drawing support from various investor categories. Qualified institutional buyers led the way, oversubscribing by 179.66 times the allotted quota.
High net-worth individuals and retail investors exhibited significant interest, subscribing 87.55 times and 23.71 times their respective portions. Meanwhile, employees bid 14.69 times the reserved portion.
With the basis of allotment of IPO shares set to be finalized by December 26, participants are eagerly awaiting the outcome. Following this, they can easily check their share allotment status on either the BSE website or the IPO registrar’s portal through three simple steps.
Grey market sentiment appears notably optimistic towards the IPO, with Azad shares commanding a substantial 75 percent premium over the upper price band, as noted by analysts who chose to remain anonymous.
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The strong subscription figures, coupled with sound financials (despite some volatility in profits), a diversified product portfolio, and anticipated growth in the aerospace and defence sectors, are cited as key factors contributing to this robust premium, according to industry experts.
It’s important to note that the grey market, operating as an unofficial platform, facilitates trading in IPO shares until their official listing.
Grey market sentiment appears notably optimistic towards the IPO, with Azad shares commanding a substantial 75 percent premium over the upper price band, as noted by analysts who chose to remain anonymous.
The strong subscription figures, coupled with sound financials (despite some volatility in profits), a diversified product portfolio, and anticipated growth in the aerospace and defence sectors, are cited as key factors contributing to this robust premium, according to industry experts.
It’s important to note that the grey market, operating as an unofficial platform, facilitates trading in IPO shares until their official listing.
More About Azad Engineering IPO: https://www.youtube.com/watch?v=F7gmPAR0hWA