Azad Engineering IPO: GMP, tentative allotment date, subscription, how to check status
Azad Engineering IPO: Bidding for the initial public offering (IPO) ended on 22md December 2023 and now those who have applied for the public issue are eagerly waiting for announcement of Azad Engineering IPO allotment date, which is most likely on 26th December 2023. In three days of bidding, Azad Engineering IPO subscription status informs that the book build issue got subscribed 80.65 times. Meanwhile, despite record subscription status, grey market sentiment has gone down in regard to Azad Engineering IPO.
According to stock market observers, Azad Engineering shares are trading at a premium of ₹375 in grey market today, which is ₹70 lower from its yesterday's GMP (grey market premium) of ₹445. Market observers said that Azad Engineering IPO GMP today is ₹375, which is ₹70 lower from Friday Azad Engineering IPO GMP of ₹445. This means, grey market mood got hit despite strong response by investors.
Observers said that sell off on Dalal Street could be the possible reason as market mood is an important factor along with subscription status. Though Azad Engineering IPO subscription status is praiseworthy, market mood has remained volatile throughout the week gone by. As per the Azad Engineering IPO subscription data available on BSE website, Azad Engineering IPO got subscribed 80.65 times whereas its retail portion got subscribed 23.79 times.
The NII portion of the book build issue got subscribed 87.61 times while QIB portion of Azad Engineering IPO got subscribed whopping 179.66 times. Once Azad Engineering IPO allotment statusn is announced, one will be able to check allotment status online by logging in at the BSE website or at the official registrar's website. The official registrar of Azad Engineering IPO is KFin
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