Azad Engineering IPO
Precision Engineering / Aerospace & Energy - Listed on 28 December 2023
Azad Engineering IPO listing summary
Azad Engineering (Precision Engineering / Aerospace & Energy) closed its IPO window in 2023 and listed on NSE and BSE on 28 December 2023 at an upper band issue price of Rs 524, opening at Rs 720 for a listing gain of +37.4% and closing day one at Rs 677.5 (+29.3% on closing basis). The IPO was subscribed 80.59x overall - QIB 179.66x, HNI/NII 87.54x, Retail 23.69x. The total issue size was Rs 740 Cr (Fresh Issue Rs 240 Cr, OFS Rs 500 Cr). IPO GMP data, subscription trends across Day 1 - Day 3 and Nifty performance around the listing window are detailed below.
Listing day performance
Subscription breakdown
Final (Day 3) subscription
Number of times each investor category subscribed by close of Day 3.
Day-wise overall subscription
How overall subscription built up across the three-day issue window.
Azad Engineering IPO GMP history
Grey market premium (GMP) tracked day-by-day across the IPO window. Absolute GMP is the premium in rupees over the upper issue price; GMP % is that premium as a percent of the issue price.
| Day | GMP (Rs) | GMP % |
|---|---|---|
| Day 1 | Rs 400 | +76.34% |
| Day 2 | Rs 430 | +82.06% |
| Day 3 | Rs 450 | +85.88% |
| Day 4 | Rs 410 | +78.24% |
| Day 5 | Rs 370 | +70.61% |
GMP Prediction vs IPOGyani AI Prediction
Comparison between market-based GMP prediction and IPOGyani's AI-powered listing gain prediction.
Issue & financials
Market context at listing
How the broader market moved around the Azad Engineering IPO window. Helpful for isolating how much of the listing gain came from company fundamentals vs. market tailwind.
Azad Engineering IPO - FAQs
What was the listing gain of Azad Engineering IPO?
Azad Engineering IPO listed at +37.4% versus the upper issue price of Rs 524 on 28 December 2023.
How many times was Azad Engineering IPO subscribed?
Azad Engineering IPO was subscribed 80.59x overall. QIB portion was subscribed 179.66x, HNI / NII 87.54x and Retail 23.69x.
What was the IPO GMP for Azad Engineering?
IPO GMP started at Rs 400 on Day 1 and moved to Rs 370 by the close of the issue window. See the day-by-day GMP table above for the full trajectory.