"Azad Engineering: Unlocking Success with the Share Profit Advantage in Today's Market Landscape"

Azad Engineering's IPO allotment status is set to be announced, with the basis of allotment expected to be revealed on Tuesday, December 26. Investors can anticipate receiving messages, alerts, or emails regarding the debit of their funds or the revocation of their IPO mandate by Wednesday, December 27. The aerospace components and turbines manufacturer received a robust response from investors during its primary offering.

The IPO of Azad Engineering was offered in the price band of Rs 499-524 per share, with a lot size of 28 shares. The bidding window was open from December 20 to December 22. The company aimed to raise approximately Rs 740 crore through its primary offering, comprising a fresh share sale of Rs 240 crore and an offer-for-sale (OFS) of up to 95,41,985 equity shares.

The issue witnessed strong subscription, with an overall subscription rate of 80.65 times. Qualified institutional bidders (QIBs) subscribed a staggering 179.66 times, non-institutional investors' category was subscribed 87.61 times, and the quota reserved for retail investors and employees saw subscription rates of 23.79 times and 14.71 times, respectively.

Despite robust bidding from QIB investors, the grey market premium (GMP) of Azad Engineering experienced a slight correction amid broader market volatility. As of the latest information, the company commands a premium of Rs 360-370 per share, indicating a potential listing pop of 68-70 percent for investors. In the unofficial market, the premium stands at around Rs 440 per share.

Established in 1983, Azad Engineering is a manufacturer of aerospace components and turbines. TThe corporation provides its goods to original equipment manufacturers (OEMs) operating in the aerospace, defense, energy, and oil and gas sectors. The products from Azad Engineering are intricately designed, sophisticated, mission-critical, and essential.

Brokerage firms have expressed positive sentiments towards Azad Engineering's IPO, recommending subscription. They cite the company's solid track record, a robust business plan, fair valuations, high entry barriers, solid margins, and strong financials, along with an experienced management team.

The book running lead managers for the Azad Engineering IPO include Axis Capital, ICICI Securities, SBI Capital Markets, and Anand Rathi Shares and Stock Brokers. Kfin Technologies serves as the registrar for the IPO. The company's shares are anticipated to be listed on both the Bombay Stock Exchange (BSE) and the National Stock Exchange (NSE), with Thursday, December 27, tentatively scheduled as the listing date.