The Rs 740-crore issue consists of a combination of fresh shares of Rs 240 crore by the company and an offer-for-sale of shares worth Rs 500 crore by existing shareholders
Azad Engineering is expected to announce its share allotment status on Tuesday, December 26.The shares of Azad Engineering were subscribed 80.6 times.The shares
Azad Engineering sold its IPO in the price band of Rs 499-524 apiece, with a lot size of 28 equity shares. The issue ran from December 20 to December 22.
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.