The Initial Public Offering (IPO) of Azad Engineering has concluded with an overwhelming response from investors, recording a subscription of 82.63 times on the final day of bidding. The public issue garnered immense interest across all investor categories, showcasing the confidence in Azad Engineering’s prospects.
**Category-wise Subscription Details:**
1. **QIB (Qualified Institutional Buyers):**
– Subscription: 179.64 times
– Shares Offered: 28,09,155
– Shares Bid For: 50,46,38,624
2. **NII (Non-Institutional Investors):**
– Overall Subscription: 89.99 times
– Shares Offered: 21,06,866
–
– bNII (Bids above ₹10L): 93.30 times
– Shares Bid For: 14,04,577
– Total Amount Bid: ₹13,10,46,888
– sNII (Bids below ₹10L): 83.38 times
– Shares Bid For: 7,02,289
– Total Amount Bid: ₹5,85,53,768
3. **Retail Investors:**
– Subscription: 23.80 times
– Shares Offered: 49,16,021
– Shares Bid For: 11,70,20,596
**Total Subscription Summary:**
– Total Subscription: 82.63 times
– Total Shares Offered: 98,32,042
– Total Shares Bid For: 81,23,75,424
The retail category, comprising individual investors, saw a strong subscription of 23.80 times, underlining the widespread interest among small investors. Non-Institutional Investors, both above and below ₹10 lakhs in investment, exhibited significant demand, with the category witnessing a subscription of 89.99 times.
The robust response from Qualified Institutional Buyers, with a subscription of 179.64 times, further emphasizes the confidence institutional investors have in Azad Engineering.
The total number of applications received for the Azad Engineering IPO reached an impressive 3,883,533, showcasing the widespread retail participation and investor enthusiasm.
Azad Engineering’s IPO has undoubtedly struck a chord with the investor community, reflecting positively on the company’s growth prospects and market positioning. The subscription numbers indicate strong investor confidence in Azad Engineering’s business model and future potential. The final allotment and listing dates will be eagerly awaited as investors anticipate the next chapter in Azad Engineering’s journey as a publicly listed company.
