Azad Engineering IPO: Price band, GMP, review, among 10 things to know as issue opens today
₹740 crore from the public issue that will conclude on December 22. Headquartered in Hyderabad, Telangana, Azad Engineering supplies its products to original equipment manufacturers (OEMs) in the aerospace, defense, energy, and oil and gas industries. Its products are highly engineered, complex, mission-critical, and vital.
Also Read: Inox India IPO allotment to be finalised today: Latest GMP, steps to check Inox allotment status Here are 10 key things to know about Azad Engineering IPO: 1) Azad Engineering IPO Dates: Azad Engineering IPO opens for subscription on December 20 and will close on December 22, 2023. The IPO allotment is expected to be finalized on December 26. 2) Azad Engineering IPO Details: Azad Engineering IPO issue size is ₹740.00 crore.
The issue is a combination of fresh issue of 46 lakh equity shares aggregating to ₹240 crore and offer for sale (OFS) of 95 lakh shares aggregating to ₹500 crore. 3) Azad Engineering IPO Price Band: Azad Engineering IPO price band has been set at ₹499 to ₹524 per share. (Exciting news! Mint is now on WhatsApp Channels Subscribe today by clicking the link and stay updated with the latest financial insights! Click here!) 4) Azad Engineering IPO Lot Size: Azad Engineering IPO lot size is 28 shares and the minimum investment amount required by retail investors is ₹14,672.
5) Azad Engineering IPO Listing: Azad Engineering IPO will list on both the stock exchanges - BSE and NSE - with a tentative listing date fixed on December 28. 6) Azad Engineering IPO Objectives: The company proposes to utilise the net proceeds of the fresh issue for funding capital expenditure, repayment or prepayment of certain of the borrowings and general corporate purposes. 7) Azad Engineering IPO
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