Latest Azad Engineering IPO allotment Status: Here is how to check allotment status online

December 22, 2023 IPO 2 min read
Azad Engineering IPO Allotmnet Status

The Rs 740.00 crore Azad Engineering IPO was a book-built offering. The issuance consisted of a Rs 500.00 crore offer for sale and a new issue of Rs 240.00 crores.

The subscription period for the Azad Engineering IPO began on December 20, 2023, and ended on December 22, 2023. On Tuesday, December 26, 2023, the allocation for the Azad Engineering IPO was anticipated to be completed. The tentative listing date for Azad Engineering’s initial public offering (IPO) was Thursday, December 28, 2023, on the BSE and NSE.

The price range for Azad Engineering’s IPO was ₹499 to ₹524 per share. An application had to have a minimum lot size of 28 shares. Retail investors were required to invest a minimum of ₹14,672. A minimum lot size investment of ₹205,408 for sNII and ₹1,012,368 for bNII was required. For sNII, the minimum lot size investment was 14 lots (392 shares).

The book running lead managers of the Azad Engineering IPO were Axis Capital Limited, ICICI Securities Limited, SBI Capital Markets Limited, and Anand Rathi Securities Limited. The registrar of the issue was Kfin Technologies Limited.

Here’s how you can check the allotment status of Azad Engineering IPO: 

 

Step 1: Go to the BSE website

 

Step 2: Choose ‘Equity’ and then the issue name from the selection menu.

 

Step 3: Enter your application number as well as your PAN card number and press ‘Search’.

 

You can also follow a similar procedure to check Azad Engineering IPO allotment status on the Registrar’s website: 

 

Step 1: Go to the Kfin Technologies website

 

Step 2: Select the IPO name searching for the company.

 

Step 3: Input your PAN, application number, DP/Client ID, or account number/IFSC number and click on ‘Search’. 

 

If the details are input correctly, the status will appear only after allotment. The equity shares are expected to be credited to successful investors’ demat accounts on December 26, 2023.

 

Azad Engineering Ltd. is a specialty manufacturer with product lines in the energy, oil and gas, aerospace and defence, and other industries. It produces intricate, intricately engineered, mission- and life-critical components. 

 

Among its main products are 3D spinning air-foil sections for turbine engines, as well as other essential items for spaceships, defence missiles, nuclear power, hydrogen, gas power, oil, and thermal power, as well as other military and commercial aircraft.

 

The portion of the new issue will be used to pay off or prepay the company’s outstanding debts as well as to acquire capital expenditures (CAPEX). The new cash will also be utilised, in part, for general business objectives. Axis Capital, ICICI Securities, SBI Capital Markets, and Anand Rathi Securities will oversee the lead management of the IPO. The issue’s registrar will be KFIN Technologies Ltd.


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