Azad Engineering, a manufacturer specializing in aerospace components and turbines, successfully launched its initial public offering (IPO) on December 20. The Sachin Tendulkar and VVS Laxman-backed IPO received overwhelming demand from investors, with a subscription rate of 80.06 times during the bidding period, which concluded on December 22.
For investors eager to check their Azad Engineering allotment status, here’s a step-by-step guide:
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Checking Allotment Status on Registrar’s Website:
Follow these steps to check Azad Engineering IPO allotment status
- Visit the registrar’s website.
- In the “Select IPO” dropdown menu, choose “Azad Engineering Limited.”
- Select one of the three options to check the status: Application No, Demat Account, or PAN.
- Enter the details as per the option selected.
- Input the provided Captcha and click Submit.
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Checking Allotment Status on BSE
The Azad Engineering IPO status can also be checked through the BSE website.Go to the BSE website.Click on ‘Equity’ and select ‘Azad Engineering’ from the dropdown menu.Enter your application number and PAN.Click on ‘Search’.
IPO Overview: The Azad Engineering IPO, which had a price band of ₹499 to ₹524 per share, witnessed strong demand throughout its duration. On the closing day, the IPO was subscribed 80.06 times, with bids for 81.59 crore equity shares against the 1.01 crore shares available.
Breaking down the subscription figures, the qualified institutional buyer (QIB) segment saw an impressive subscription rate of 179.66 times. Non-institutional investors demonstrated significant interest with a subscription of 87.55 times. The retail portion also recorded decent participation, with a subscription rate of 23.71 times, while the employee portion was subscribed 14.69 times.
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Prior to the IPO, the Hyderabad-based company successfully raised ₹220.8 crore by alloting shares to anchor investors on December 19. Prominent investors, including Abu Dhabi Investment Authority, Nippon Funds, ICICI Prudential Mutual Fund, Kotak Mahindra Trustee, Tata MF, Eastspring Investments, Bandhan MF, HDFC Life Insurance, Bajaj Allianz Life Insurance, and Max Life Insurance, expressed keen interest in the company.
The listing of Azad Engineering shares on the stock exchanges is on December 28.
