Page 15 - Azad Engineering News Today

Azad Engineering IPO: The price band for the issue, which closes on December 22, has been fixed at Rs 499-524 per share

Azad Engineering IPO: Despite on-par valuation with peers, analysts advised investors to subscribe to the issue owing to the companys strong financial track record and superior outlook on growth.

Motisons Jewellers is the most buzzed of the lot, commanding a premium of Rs 76 in the unlisted market against an issue price of Rs 55. The issue, which closed on Wednesday, was subscribed by a massive 159 times at the end, led by non-institutional and retail investors. The share allotment for the public offer is expected later in the evening today.

Azad Engineering IPO GMP: Last heard, Azad Engineering was commanding a grey market premium (GMP) of Rs 440, which was at about 84 per cent premium over the upper limit of the IPO price band.

Credo Brands Marketing offers casual clothing for men with its flagship brand, Mufti. The IPO garnered a decent response from investors on the first day, achieving an overall subscription rate of 2.08 times.

DOMS Industries was commanding a grey market premium (GMP) of Rs 510, a 65 per cent premium over its issue price of Rs 790. India Shelters Finance Ltd was commanding a GMP of Rs 157, a 31.85 per cent premium over the issue price.

Hyderabad-based aerospace components and turbines manufacturer, Azad Engineering, is all set to launch its Initial Public Offering (IPO) today, December 20. The company seeks to raise ₹740 crore from the public issue, which is scheduled to conclude on December 22. The Azad Engineering IPO has a total issue size of Rs 740.00 crore, comprising a fresh issue of 46 lakh equity shares

Unlisted shares of Azad Engineering are currently trading Rs 440 higher in the grey market, which is a 83.97 per cent listing gain from the public issue, Azad Engineering IPO: Should You apply? Check subscription status, GMP Today

DOMS stock was listed at Rs 1400 as against an offer price of Rs 790. Most estimates were predicting listing gains to be in the range of 60-65%. It extended gains to Rs 1434. The strong listing can be attributed to the companys solid performance over the past three years, marked by significant growth in revenue and profitability.

Analysts have issued a subscribe rating on all three issues on the back of strong market presence, and robust financials