As of December 21, 2023, at 1:02 PM (Day 2), the Azad Engineering IPO is experiencing strong demand, with an overall subscription of 6.98 times. The subscription details across different investor categories are as follows:
– **QIB (Qualified Institutional Buyers):**
– Subscription: 0.08 times
– Shares Offered: 28,09,155
– Shares Bid For: 2,11,316
– **NII (Non-Institutional Investors):**
– Subscription: 13.84 times
– Shares Offered: 21,06,866
– Shares Bid For: 2,91,60,124
– *bNII (Bids above ₹10L):* 11.41 times (Bids for 1,60,30,588 shares out of 14,04,577)
– *sNII (Bids below ₹10L):* 18.70 times (Bids for 1,31,29,536 shares out of 7,02,289)
– **Retail:**
– Subscription: 7.92 times
– Shares Offered: 49,16,021
– Shares Bid For: 3,89,32,124
– **Total:**
– Overall Subscription: 6.98 times
– Total Shares Offered: 98,32,042
– Total Shares Bid For: 6,86,11,256
The retail category has shown robust interest, with a subscription of 7.92 times, indicating a strong response from individual investors. Non-Institutional Investors have displayed significant enthusiasm, subscribing 13.84 times, driven by both bids above and below ₹10 lakhs.
While the QIB category shows a more modest subscription at 0.08 times, the cumulative demand reflects a broad spectrum of investor participation. The total number of applications received for the IPO is 1,155,914, underscoring widespread interest and participation in the offering.
As the subscription period progresses, these numbers will continue to evolve, providing valuable insights into market sentiment and investor confidence in Azad Engineering’s IPO.
