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Azad Engineering Share Price Highlights: BSE listing at over 37% premium, crosses ₹700 mark
Azad Engineering Share Price Highlights: The listing of the IPO is today, and the share price will be updated shortly.
Azad Engineering Share Price Highlights: The listing date of Azad Engineering initial public offering (IPO) was today, December 28, with subscribers expecting strong returns from the Sachin Tendulkar-backed firm. The allotment of shares for Azad Engineering was finalised on Wednesday, and the share price of the company will be listed on the Indian stock market today, on December 28. The GMP of the company is showing promising returns for the investors, according to early trends....Read More
The shares of Azad Engineering were listed at 9:15 am, after markets opened today. Analysts expected its share price to be 40 percent higher than the price band of the IPO.
As per the BSE notice regarding the same, the shares of Azad Engineering were to be listed in special pre open session, going live at around 10 am.
The BSE notice said, "Trading Members of the Exchange are hereby informed that effective from Thursday, December 28, 2023, the equity shares of Azad Engineering Limited shall be listed and admitted to dealings on the Exchange in the list of 'B' Group of Securities."
Azad Engineering Share Price LIVE: Where will the net proceeds be utilised?
The company proposes to utilise the proceeds from the offer to part fund capital expenditure for its ₹280 crore expansion by setting up two units towards the end of the next fiscal and for repaying/pre-paying debt of around ₹90 crore.
Azad Engineering Share Price LIVE: What was the issue size?
The IPO was worth ₹740 crore, of which there was an offer-for-sale (OFS) of ₹500 crore. “The remaining ₹240 crore will be raised through fresh issue of shares,” the company's Chairman and Managing Director Rakesh Chopdar had earlier told PTI.
Azad Engineering Share Price LIVE: Shares remain stable at ₹720
After reaching nearly ₹730 on NSE and BSE, the share prices have dropped down to ₹720 once again, remaining stable at the listing price of Azad Engineering.
Azad Engineering Share Price LIVE: Share prices soar
After the initial few hours of listing, Azad Engineering prices touched intraday high of ₹727 on NSE and ₹727.50 apiece on BSE.
Azad Engineering Share Price LIVE: Investment grows by 7x
Multiple investors of Azad Engineering, including Sachin Tendulkar, saw their investment grow by 7x, as compared to the acquisition price.
Azad Engineering Share Price LIVE: Sachin Tendulkar earns big
Cricketer Sachin Tendulkar, who is one of the primary investor of Azad Engineering, ended up earning big through the IPO after its bumper listing today.
Azad Engineering Share Price LIVE: Premium lower than GMP
The GMP of Azad Engineering suggested that the share price of the company would go over ₹780, with the premium standing at ₹205.
Azad Engineering Share Price LIVE: Stock reaches ₹720
Hours after listing, the Azad Engineering stock price has grown to ₹720, with a premium of over 37 percent.
Azad Engineering Share Price LIVE: 35 percent premium on listing day
While the GMP had predicted a premium over 40 percent, Azad Engineering was listed on the BSE with a premium of 35 percent, at the share price ₹710.
Azad Engineering Share Price LIVE: Listing price released
The Azad Engrineering stock has been listed on the BSE at ₹710, over 35 percent above the listing price of the IPO.
Azad Engineering Share Price LIVE: GMP ahead of listing
The grey market premium of Azad Engineering IPO has been predicted at 205, with a listing price of ₹524.
Azad Engineering Share Price LIVE: Listing likely over ₹800
According to the GMP of Azad Engineering IPO, the share price of the company can range between ₹750 to ₹800.
Azad Engineering Share Price LIVE: Strong GMP before listing
The share price of Azad Engineering remains strong as the grey market premium indicates a nearly 50 percent hike from the issue price band.
Azad Engineering Share Price LIVE: IPO listing by 10 am
The IPO listing of Azad Engineering is likely to be done by 10 am today, after which the listing price will be updated.
