Azad Engineering IPO: GMP, subscription status, should you apply as bidding ends today

The initial public offering (IPO) of Azad Engineering Limited opened for subscription on 20th December 2023 and it will remain open for bidding till 22nd December 2023. This means Azad Engineering IPO will close today evening and investors have just one day in their hand to apply for the public issue. The aerospace components and turbines maker company has fixed at 499 to 524 per equity share.

As per Azad Engineering IPO subscription status after two days of bidding, the public issue has received strong response by investors. Meanwhile, Azad Engineering shares continue to trade strong in grey market. According to observers, Azad Engineering shares are trading at a premium of 445 in grey market today.

Market observers said that Azad Engineering IPO grey market premium (GMP) today is 445, which is around 85 per cent of the Azad Engineering IPO price band of 499 to 524 per equity share. Observers said that trend reversal on Dalal Street during Thursday deals could be the possible reason for aerospace component maker company’s stock holding its ground in unlisted market. By 10:09 AM on day three of bidding, the public issue has been subscribed 11.

51 times whereas its retail portion has been subscribed 11. 75 times. The NII portion of the issue has been subscribed 24.

07 times while its QIB portion got subscribed 1. 53 times. Azad Engineering IPO review Giving ‘subscribe’ tag to Azad Engineering IPO, Hem Securities said, “Company is bringing the issue at price band of 499-524 per share at p/e multiple of 58x on post issue annualized H1FY24 PAT basis.

Company is preferred name in the manufacturing of highly engineered, complex, and mission and life- critical high precision components for global OEMs growing competition from China and Eastern Europe. Company’s supplying to OEMs with high global market penetration has long-standing and deep customer relationships with advanced manufacturing facilities with a diverse range of products and solutions with focus on innovation and cost competitiveness and consistent track record of financial performance. .

Hence ,looking after all above we recommend “Subscribe” on issue. ” Advising investors to apply for listing gains, Motilal Oswal said, “We like AEL given its presence in the high growth niche segment with high entry barriers, diversified product/client portfolio and robust financials. It would benefit from industry tailwinds especially in A&D space which could improve its revenue mix.

IPO is priced at 57. 6x 1HFY24 P/E (on an annualized & diluted basis). We recommend Subscribe for listing gains, given its unique business model & buoyant primary market.

” Ajcon Global Services, BP Equities, Securities, Indsec Securities, Nirmal Bang, Reliance Securities, SBI Securities, , Ventura Securities and Way2Wealth Securities have also given ‘Apply’ tag to Azad Engineering IPO. Livemint tops charts as the fastest growing news website in the world to know more. Unlock a world of Benefits! From insightful newsletters to real-time stock tracking, breaking news and a personalized newsfeed – it’s all here, just a click away!.