Azad Engineering IPO is a Rs 740.00 crore book-built issuance. The offering consists of a fresh issuance of 0.46 crore shares worth Rs 240.00 crores and an offer for sale of 0.95 crore shares worth Rs 500.00 crores.
The Azad Engineering IPO goes on sale on December 20, 2023, and closes on December 22, 2023. The Azad Engineering IPO allocation is anticipated to be completed on Tuesday, December 26, 2023. Azad Engineering IPO will be listed on the BSE and NSE, with a tentative listing date of Thursday, December 28, 2023.
The pricing range for Azad Engineering’s IPO is $499 to $524 per share. An application requires a minimum lot size of 28 Shares. Retail investors must make a minimum investment of $14,672. The minimum lot size investment for sNII is 14 lots (392 shares), which amounts to 205,408, while the minimum lot size investment for bNII is 69 lots (1,932 shares), which amounts to 1,012,368.
Azad Engineering IPO Details
| IPO Date | December 20, 2023 to December 22, 2023 |
| Listing Date | [.] |
| Face Value | Rs 2 per share |
| Price Band | Rs 499 to Rs 524 per share |
| Lot Size | 28 Shares |
| Total Issue Size | 14,122,138 shares (aggregating up to Rs 740.00 Cr) |
| Fresh Issue | 4,580,153 shares (aggregating up to Rs 240.00 Cr) |
| Offer for Sale | 9,541,985 shares of Rs 2 (aggregating up to ₹500.00 Cr) |
| Issue Type | Book Built Issue IPO |
| Listing At | BSE, NSE |
| Share holding pre issue | 54,532,842 |
| Share holding post issue | 59,112,995 |
Azad Engineering IPO Timeline
| IPO Open Date | Wednesday, December 20, 2023 |
| IPO Close Date | Friday, December 22, 2023 |
| Basis of Allotment | Tuesday, December 26, 2023 |
| Initiation of Refunds | Wednesday, December 27, 2023 |
| Credit of Shares to Demat | Wednesday, December 27, 2023 |
| Listing Date | Thursday, December 28, 2023 |
| Cut-off time for UPI mandate confirmation | 5 PM on December 22, 2023 |
Azad Engineering IPO Lot Size
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (Min) | 1 | 28 | Rs 14,672 |
| Retail (Max) | 13 | 364 | Rs 190,736 |
| S-HNI (Min) | 14 | 392 | Rs 205,408 |
| S-HNI (Max) | 68 | 1,904 | Rs 997,696 |
| B-HNI (Min) | 69 | 1,932 | Rs 1,012,368 |
