Azad Engineering IPO subscribed 5.7 times, HNI portion booked 10 times on second day
Azad Engineering IPO: The price band for the issue, which closes on December 22, has been fixed at Rs 499-524 per share
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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 company's 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.