Azad Engineering Ltd stands as a pivotal player among manufacturers, specializing in top-notch product lines tailored for the aerospace and defense, energy, and oil and gas sectors. Renowned for crafting intricately engineered components vital for mission-critical functions, Azad Engineering excels in producing 3D rotating airfoil portions for turbine engines and other indispensable items catering to defense and civil aircraft, spaceships, defense missiles, nuclear power, hydrogen, gas power, oil, and thermal power applications. The components, meticulously forged and machined, adhere to stringent quality standards, with some boasting a remarkable “zero parts per million” defects requirement.
In a significant move, Azad Engineering has announced the commencement of its initial public offering (IPO) subscription period, scheduled to open on Wednesday, December 20, and conclude on Friday, December 22. The IPO witnessed a strong start, with 20 anchor investors contributing a substantial ₹221 crore at an upper price range of ₹524 per equity share.
The pricing range for the IPO stands between ₹499 to ₹524 for each equity share, each with a face value of ₹2. Investors can participate in the offering through lots of 28 equity shares, with subsequent multiples also set at 28 equity shares.
To ensure a fair distribution, Azad Engineering has allocated a minimum of 15% of the IPO shares for non-institutional investors (NII), while 50% is reserved for qualified institutional buyers (QIB). The remaining 35% is designated for retail investors, reflecting the company’s commitment to inclusivity. Notably, a considerate ₹4 crores in reserved equity shares have been earmarked for the dedicated and hardworking employees of Azad Engineering.
As Azad Engineering embarks on this transformative journey through its IPO, it not only showcases its commitment to precision engineering but also embraces a diverse investor base, inviting stakeholders from various segments to be part of its promising future.
📌#IPOAlert : आजाद इंजीनियरिंग का IPO पहले दिन 3.3x भरा, प्राइस बैंड: ₹499-524
आजाद इंजीनियरिंग IPO को सब्सक्राइब करें या नहीं?
आजाद इंजीनियरिंग में क्या हैं खास?✨
Azad Engineering IPO पर अनिल सिंघवी का पूरा एनालिसिस…#AzadEngineeringIPO #AnilSinghvi #StockMarket… pic.twitter.com/2QZQxDROO5
— Zee Business (@ZeeBusiness) December 21, 2023
