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The Azad Engineering stock had hit a high of Rs 727.50 on its debut on Thursday. The stock eventually closed the previous session at Rs 677.50 , up 29.29 per cent.
Azad Engineering IPO, which was priced at Rs 524, received a good response from investors with 80.6 times subscription at close.
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.
Sachin Tendulkar-backed Azad Engineering offered its shares in the fixed price band of Rs 499-524 apiece with a lot size of 28 equity shares between December 20-22.
The strong listing comes on the back of good interest shown by investors in the company's Rs 740-crore public issue. Qualified institutional buyers took the lead, buying 179.66 times the allotted quota