Azad Engineering IPO GMP

Azad Engineering IPO GMP: Azad Engineering Limited, a prominent player in the manufacturing sector, is set to launch its Initial Public Offering (IPO) on both the NSE and the BSE exchanges. This IPO boasts a substantial issue size of Rs 740.00 Cr, encompassing a Fresh issue size of Rs 240.00 Cr and an Offer for Sale (OFS) issue size of Rs 500.00 Cr. Each share has a face value of Rs 2. The IPO subscription period is scheduled to run from December 20 to December 22, 2023. To participate, investors need to buy at least one lot, consisting of 28 shares or multiples thereof, at a price band ranging from Rs 499 to Rs 524 per share.

Also See: All IPO GMP Price Dashboard

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Azad Engineering IPO GMP

As potential investors eye Azad Engineering’s IPO, the Grey Market Premium (GMP) plays a significant role in assessing market sentiment and anticipated listing prices. GMP reflects the unofficial, unregulated market where IPO shares are traded before their official listing. It provides insights into how the IPO may perform on its listing day. A positive GMP suggests that the IPO is expected to debut at a premium, while a negative GMP indicates that it might list at a discount.

As of the latest update, Azad Engineering IPO’s GMP stands at ₹205, as of today. With a price band of Rs 524.00, the estimated listing price for Azad Engineering IPO is ₹729 (cap price + today’s GMP). This implies an expected percentage gain/loss per share of 39.12%.

Here’s a historical GMP table for Azad Engineering IPO: [Last Updated: 28 Dec, 2023; 09:05]

GMP DateIPO PriceGMPSub2 Sauda RateEstimated Listing Price
28-12-2023524.00₹2054400/61600₹729 (39.12%)
27-12-2023524.00₹2054400/61600₹729 (39.12%)
26-12-2023524.00₹3006400/89600₹824 (57.25%)
25-12-2023524.00₹3056500/91000₹829 (58.21%)
24-12-2023524.00₹3116600/92400₹835 (59.35%)
23-12-2023524.00₹3116600/92400₹835 (59.35%)
22-12-2023524.00₹3607700/107800₹884 (68.70%)
21-12-2023524.00₹3707900/110600₹894 (70.61%)
20-12-2023524.00₹4409400/131600₹964 (83.97%)
19-12-2023524.00₹4409400/131600₹964 (83.97%)
18-12-2023524.00₹4409400/131600₹964 (83.97%)
17-12-2023524.00₹3808100/113400₹904 (72.52%)
16-12-2023524.00₹3808100/113400₹904 (72.52%)
15-12-2023524.00₹4008500/119000₹924 (76.34%)
14-12-2023₹0₹ (0%)

Also See: Upcoming IPO in India

Understanding IPO GMP

IPO GMP provides valuable insights, but it’s essential to understand that it’s subject to extreme volatility. Relying solely on Azad Engineering IPO GMP for investment decisions can be risky. It’s crucial to consider all relevant factors before making an investment choice regarding Azad Engineering IPO.

Also Read: What is IPO?: Benefits of Investing in an IPO

About Azad Engineering

Azad Engineering Limited, established in 1983, has established itself as a leading manufacturer of high-quality product lines catering to global Original Equipment Manufacturers (OEMs) in industries such as energy, aerospace, defense, and oil and gas. The company specializes in manufacturing highly engineered, complex, mission-critical components, including 3D turbine blades and other critical parts for gas, nuclear, and heat turbines used in industrial applications, power generation, defense, civil aircraft, and spacecraft.

Over the years, Azad Engineering has supplied its products to countries worldwide, including the USA, China, Europe, the Middle East, and Japan. The demand for precision-forged and machined components like those manufactured by Azad Engineering is driven by the requirements of energy turbines (industrial, gas, nuclear, and coal turbines) and aircraft (civil and military), among other applications.

The company’s extensive product range caters to the energy, aerospace, defense, and oil and gas sectors, focusing on highly engineered, complex, mission and life-critical precision forged and machined components. These products position the company as a strategic partner for OEMs in the industries it serves.

Also Read: Azad Engineering IPO: Rs 740-crore Public Issue Opens on December 20

Azad Engineering IPO Strengths

  • Supplying to OEMs with a high global market presence.
  • Long-standing and deep customer relationships.
  • Advanced manufacturing facilities offering a diverse range of innovative and cost-competitive products and solutions.
  • Consistent track record of financial performance.
  • An experienced Promoter and management team supported by marquee investors.

Azad Engineering IPO Objectives

The Net Proceeds from the Fresh Issue of the IPO will be utilized as follows:

  1. Funding capital expenditure of the Company.
  2. Repayment/prepayment, in part or full, of certain borrowings availed by the Company.
  3. General corporate purposes.

Also Read: How to Open a Demat Account on Groww

Azad Engineering IPO Dates

Here are the important dates associated with Azad Engineering IPO:

  • IPO Open Date: 20-12-2023
  • IPO Close Date: 22-12-2023
  • Basis of Allotment Finalization Date: 26-12-2023
  • Refunds Initiation Date: 27-12-2023
  • Credit of Shares to Demat Account: 27-12-2023
  • IPO Listing Date: 28-12-2023

Investors and market enthusiasts will closely monitor these dates as they mark critical milestones in the IPO process.

In conclusion, Azad Engineering Limited’s IPO is generating significant interest in the market, as indicated by the Grey Market Premium. However, potential investors should conduct thorough due diligence and consider various factors before making an investment decision. IPO investments come with inherent risks, and understanding the company’s strengths, objectives, and the broader market conditions is essential for making informed choices in the world of IPOs.

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