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Azad Engineering IPO Listing: Shares of Azad Engineering have made huge gains for investors on the first day. Shares of the company surged over 35 percent on the Bombay Stock Exchange to Rs. 710 are listed. At the same time, the company’s shares are listed on the National Stock Exchange at Rs 720 with a gain of over 37 percent. The company’s IPO price band is Rs. 499 to Rs. was 524. In the IPO, Azad Engineering’s shares were priced at Rs. 524 were allotted. Veteran cricketer Sachin Tendulkar has also invested in Azad Engineering.
Sachin Tendulkar gained over 400 percent
Veteran cricketer Sachin Tendulkar invested Rs 5 crore in Azad Engineering in March this year. According to a report in Economic Times, if the shares of Azad Engineering Rs. 524, the value of Tendulkar’s investment would rise to Rs. 22.96 crore will be. In this way Sachin Tendulkar will get 360% profit on his investment in 9 months. Now the shares of Azad Engineering on BSE are trading at Rs. 710 are listed. According to this Sachin Tendulkar has made more than 400% profit on his investment.
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83 times the stake was placed on the IPO
Azad Engineering’s IPO has been subscribed a total of 83.04 times. Retail investors subscribed 24.51 times the quota in the company’s IPO. At the same time, Non-Institutional Investors (NII) quota was subscribed 90.24 times. The company’s IPO was subscribed 179.64 times the quota by qualified institutional buyers (QIB). In Azad Engineering’s IPO, retail investors can bid for a minimum of 1 lot and a maximum of 13 lots. That is, retail investors have to invest a minimum of Rs 14672.
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