Azad Engineering IPO review: Anil Singhvi, Managing Editor of Zee Business, shared his thoughts on the Azad Engineering IPO, which entered the second day of bidding on Thursday, December 21. The market expert suggested investors apply for the IPO for a big listing gain and from a long-term perspective. Singhvi has pointed out the following key points about the company:

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Positive

  • High entry barrier
  • Strong global presence
  • Impressive financial track record
  • Reasonable valuations

 
Negative 

  • Focus on limited clients

The IPO of the manufacturer of aerospace components and turbines remains open for subscription for three trading days, i.e., until December 22 from 10 am to 5 pm. The Azad Engineering IPO is a book-built issue of Rs 740 crore. The issue is a combination of a fresh issue of 0.46 crore shares and an offer for sale of 0.95 crore shares.

Last seen, Azad Engineering IPO had received bids for 5,82,61,420 shares on Day 2 of the bidding process as against the 1,01,22,705 shares on offer, according to provisional exchange data.

Here are a few other details about the IPO:

  • Price Band: Rs 499 to Rs 524 per share
  • Lot Size: 28 shares
  • Allotment date: December 26, 2023
  • Listing date: December 28, 2023. Read more

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