The share allotment process for the Azad Engineering IPO is set to be finalized on December 26, with investors being assigned shares through a lottery system overseen by the registrar. On the allotment date, investors will be notified of the number of shares allocated to them in comparison to their placed bids.
To verify the allotment status, investors can use the BSE platform or visit the registrar’s website. The bidding for the IPO concluded on December 22, 2023, and the subscription status indicates that the book build issue was oversubscribed 80.65 times within the three-day bidding period.
As of today, the Grey Market Premium (GMP) for Azad Engineering IPO is ₹311, a decrease of ₹134 from the GMP on Friday, which was ₹445. Despite the strong response from investors in terms of subscription, market observers attribute the decline in GMP to a sell-off on Dalal Street, suggesting that market sentiment plays a crucial role alongside subscription status. Despite the impressive subscription status, market mood has remained volatile throughout the week.
Breaking down the subscription status, data from the BSE website reveals that Azad Engineering IPO was oversubscribed 80.65 times overall, with the retail portion being subscribed 23.79 times. The Non-Institutional Investor (NII) portion saw a subscription of 87.61 times, while the Qualified Institutional Buyer (QIB) portion was significantly oversubscribed at 179.66 times.
To check the allotment status of Azad Engineering IPO, investors can follow these steps:
1. Open the BSE website on any electronic device.
2. Select the issue name, i.e., the company’s name, from the drop-down menu.
3. Enter either the application number or PAN Card details to check the allotment status.
4. After entering the application number/PAN Card details, click on submit.
The official registrar for Azad Engineering IPO is KFin Technologies Ltd. Investors can check the IPO allotment status online at KFin Technologies’ link: kprism.kfintech.com/ipostatus.
