Azad Engineering listing date today: Check latest GMP and other details
Azad Engineering will debut on the exchanges today. Ahead of the listing, the company's shares are trading with a premium of Rs 172 in the unlisted market.
The company's shares are likely to list at a premium of 33%.
The issue was priced in the range of Rs 499-524.
The IPO of Azad Engineering received good response from investors with 80.6 times subscription at close. The category reserved for QIB was subscribed the most at 179 times, followed by NIIs at 87 times.
The retail part received 23.7 times bids.
The issue was a fresh equity of Rs 240 crore and an offer for sale (OFS) of Rs 500 crore. Under the OFS, promoter Rakesh Chopdar, Investor Piramal Structured Fund, and DMI Finance offloaded shares.
Analysts are positive on the company over its strong financial track record and superior outlook on growth.
