The basis of allotment for the Initial Public Offering (IPO) of the Azad Engineering Limited is set to be finalised today. Kfin Technologies Limited (Kfintech) is the registrar for the Azad Engineering IPO and will oversee the allotment process. The investors may check the allotment status of their shares on the Kfintech website or NSE/BSE.
The Hyderabad-based manufacturer of product lines in aerospace and defence, energy and oil and gas industries, has floated a Rs 740 crore initial public offering that comprises of a fresh issue of 0.46 crore shares worth Rs 240 crore and an offer for sale of 0.95 crore shares worth Rs 500 crore. The price band is set at Rs 499 to Rs 524 per share at a face value of Rs 2 apiece.
The initial public offering was open between 20th December to 22nd December 2023 and was subscribed a total of 80.65 times according to the data available at the NSE. The Qualified Institutional Buyers subscribed 189.66 times, the Non Institutional Investors 87.61 times and the retail investors subscribed 23.79 times to the issue. The issue received over 39 lakh applications from the investors.
Azad Engineering IPO allotment date and time
- The allotment of shares for the Azad Engineering initial public offering will be announced on 26th December 2023 as per the date mentioned in the RHP document. Kfin Technologies Limited; the registrar for the Azad Engineering Initial Public Offering will upload the allotment on its website by Tuesday night.
- Once the allotment is published, the refunds process to investors who did not get the any shares will be initiated on 27th December.
- The credit of shares to the successful investors will take place on 27th December 2023.
The IPO will be listed on the NSE and BSE On 28th December 2023.
How to check allotment status?
The investors who bid for the Azad Engineering IPO, may check the allotment status of their shares through the website of Kfin Technologies, BSE or NSE.
Follow these steps to check the allotment status at Kfintech website:
- Visit the Azad Engineering IPO allotment status link
- Select the company/Issue name “Azad Engineering Limited”
- Enter your PAN or Application Number or Demat account details
- Submit the request and your status of allotment will be displayed on the screen.
