Azad Engineering IPO: Limited’s initial public offering (IPO) will accept subscriptions through December 22, 2023, and bidding will be accepted through that date. This indicates that investors have just one day left to apply for the public offering of Azad Engineering, as the IPO will close this evening. The firm that makes turbines and aerospace components has set the price range for Azad Engineering’s initial public offering (IPO) at ₹499 to ₹524 per equity share. According to Azad Engineering’s initial public offering subscription status following two days of bidding, investors have responded favorably to the public offering.
Meanwhile, Azad Engineering shares continue to trade strong in the grey market. According to stock market observers, Azad Engineering shares are trading at a premium of ₹445 in the grey market today.
Azad Engineering IPO GMP today
Market observers said that Azad Engineering IPO grey market premium (GMP) today is ₹445, which is around 85 percent 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 the aerospace component maker company’s stock holding its ground in the unlisted market.
Azad Engineering IPO subscription status
By 2:45 PM on day three of bidding, the public issue had been subscribed to 51.49 times, while the retail portion had been subscribed to 20.63 times. The NII portion of the issue has been subscribed to 76.01 times, while the QIB portion has been subscribed to 89.32 times.
Azad Engineering IPO review
Hem Securities assigned the subscriber label to Azad Engineering’s IPO, stating, “Company is bringing the issue at a price band of 499-524 per share at p/e multiple of 58x on post-issue annualized H1FY24 PAT basis.” The company is the preferred name in the manufacturing of highly engineered, complex, mission and life-critical high-precision components for global OEMs facing increased competition from China and Eastern Europe. Companies that supply OEMs with high global market penetration have long-standing and deep customer relationships with advanced manufacturing facilities that offer a diverse range of products and solutions with a focus on innovation and cost competitiveness, as well as a consistent track record of financial performance. As a result of the foregoing, we recommend Subscribe to the issue.
Motilal Oswal declared that we like AEL given its presence in the high-growth niche segment with high entry barriers, diversified product/client portfolio, and robust financials. He advised investors to apply for listing gains. It would profit from favorable industry trends, particularly in the A&D sector, which might enhance its revenue mix. The IPO is valued, on an annualized and diluted basis, at 57.6x P/E of 1HFY24. With its distinct business strategy and thriving primary market, we advise Subscribe for listing gains.
