Azad Engineering IPO: Date, GMP, Lot Size, Allotment, and Listing Details

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Azad Engineering IPO Ltd. is kickstarting its initial public offering (IPO) worth 740 crores from December 20, 2023, until December 22, 2023. The share price for this IPO ranges between Rs 499 to Rs 524 per share, calculated at a face value of 2.

Azad Engineering IPO Date

Azad Engineering’s IPO is all set to roll! It starts on December 20, 2023, and ends on December 22, 2023. The allotment basis is scheduled for December 26, 2023, followed by refunds on December 27, 2023.
After that, December 27, 2023, marks the Credit to Demat Account date, and the big day arrives on December 28, 2023, when the IPO gets listed.
This IPO’s all about growth: Azad Engineering plans to raise about 740 crores through this offering, split between a new issuance of 240 crores and an offer for sale of up to 500 crores, both at Rs. 2 each.
It’s a diverse offering, too, with 50% for QIB, 35% for retail, and 15% for HNI. The price per share for Azad Engineering’s IPO ranges from ₹499 to ₹524.

Azad Engineering IPO GMP 

Per the latest info from, today’s grey market premium (GMP) for Azad Engineering IPO stands at ₹0. That means the shares are trading at the issue price of ₹524 without compensation or discount in the grey market.
However, the most recent GMP for Azad Engineering, as of Dec. 16, 2023, at 08:55 AM, was ₹400. With an IPO price band of ₹524.00, the expected listing price is ₹924 (the cap price + today’s GMP). That’s an estimated gain or loss of about 76.34% per share.

Azad Engineering IPO Overview 


Event Date
IPO Open Date Wednesday, December 20, 2023
IPO Close Date Friday, December 22, 2023
Basis of Allotment Tuesday, December 26, 2023
Initiation of Refunds Wednesday, December 27, 2023
Credit of Shares to Demat Wednesday, December 27, 2023
Listing Date Thursday, December 28, 2023
Cut-off time for UPI mandate confirmation 5 PM on December 22, 2023

Azad Engineering IPO Allotment Status

Do you have shares in Azad Engineering’s IPO? Here’s how:

  1. Click the button to check your allotment status.
  2. Pick the company’s name.
  3. Enter your DP Client ID (pick any), Application Number, or PAN Number.
  4. Hit “Search” and find out.

Azad Engineering IPO Allotment & Listing Dates

On December 20, Azad Engineering kicks off its public debut, wrapping up on December 22. Allocation for the Azad Engineering IPO will finish by December 26, with the IPO officially listing on December 28.

Azad Engineering IPO Lot Size

You can bid for a minimum of 28 shares, and you’re free to bid for more in multiples of 28. Here’s a breakdown of the lowest and highest investment amounts for retail investors and high-net-worth individuals (HNIs):

Retail (Minimum Investment): ₹14,672 for 1 lot Retail (Maximum Investment): ₹190,736 for 13 lots S-HNI (Minimum Investment): ₹205,408 for 14 lots S-HNI (Maximum Investment): ₹997,696 for 68 lots B-HNI (Minimum Investment): ₹1,012,368 for 69 lots

The money raised from the Azad Engineering IPO will be used for a few critical things:

  • Covering the company’s capital expenses.
  • Supporting regular business activities.
  • Paying off a portion or all of the loans the company owes.

Azad Engineering IPO offers a chance to be part of the booming infrastructure industry. Azad Engineering boasts ten years of successful project delivery and inventive approaches, positioning itself for growth.

The funds raised from the IPO are earmarked for expansion and innovation. Yet, before diving in, consider market conditions, the company’s financial status, and potential risks.

While Azad Engineering’s history and the sector’s potential look promising, it’s wise to do thorough research and seek advice from financial experts before investing.

Azad Engineering IPO Review

The Azad Engineering IPO marks a crucial step for the company and the infrastructure industry. With ten years of triumphs, this IPO intends to gather funds for growth and fresh ideas.
Azad Engineering has shown great success, and the industry’s future prospects make it an attractive investment. Still, it’s essential for investors to carefully weigh market conditions and risks before jumping in. While the IPO review is promising, homework is vital to making smart investment decisions.

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