IPO : Azad Engineering Limited
Azad Engineering Limited IPO
| SYMBOL | AZAD |
| ISSUE TYPE | Book Built Issue IPO |
| ISSUE OPENS ON | Wednesday, December 20, 2023 |
| ISSUE CLOSES ON | Friday, December 22, 2023 |
| ISSUE PRICE | ₹499 to ₹524 per share |
| ISSUE SIZE | Up to Rs.740.00 Crores |
| FACE VALUE | Rs.2 per share |
Azad Engineering IPO is a book built issue of Rs 740.00 crores. The issue is a combination of fresh issue of 0.46 crore shares aggregating to Rs 240.00 crores and offer for sale of 0.95 crore shares aggregating to Rs 500.00 crores.
Thank you for reading this post, don't forget to subscribe!Azad Engineering IPO opens for subscription on December 20, 2023 and closes on December 22, 2023. The allotment for the Azad Engineering IPO is expected to be finalized on Tuesday, December 26, 2023. Azad Engineering IPO will list on BSE, NSE with tentative listing date fixed as Thursday, December 28, 2023.
| MINIMUM BID | 28 shares |
| MINIMUM AMOUNT | Rs.14,672 |
| MAXIMUM BID | 364 shares |
| MAXIMUM AMOUNT | Rs.190,736 |
| PROMOTER HOLDING | 56.38% (Post-issue) |
| LISTING DATE | Thursday, December 28, 2023 |
| LISTING AT | BSE, NSE |
Azad Engineering IPO price band is set at ₹499 to ₹524 per share. The minimum lot size for an application is 28 Shares. The minimum amount of investment required by retail investors is ₹14,672. The minimum lot size investment for sNII is 14 lots (392 shares), amounting to ₹205,408, and for bNII, it is 69 lots (1,932 shares), amounting to ₹1,012,368.
Objects of the Issue (Azad Engineering IPO Objectives)
The Net Proceeds of the Fresh Issue are proposed to be utilized in the following manner:
- 1. Funding capital expenditure of the Company;
- 2. Repayment/prepayment, in part or full, of certain of the borrowings availed by the Company; and
- 3. General corporate purposes.
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