Azad Engineering IPO allotment: Here’s how to check status

Azad Engineering IPO: The allocation of shares for the Azad Engineering IPO is set to be completed on December 26, with investors receiving shares through a lottery system overseen by the registrar.
As per ET, on the allotment date, investors can ascertain the number of shares allotted to them in comparison to their bids. To check the allotment status, investors can use the BSE platform or visit the registrar’s website.
Here’s a three-step guide to help you check the status on BSE:

Azad Engineering GMP (Grey Market Premium)
The company’s shares are scheduled to be listed on exchanges on December 28, and sources report a premium of Rs 375 in the unlisted market. With an upper price band of Rs 524, the stock is expected to debut with a 71% premium.
Azad Engineering IPO subscription
The IPO garnered significant interest, with a subscription rate of 80.6 times on the final day of bidding. The QIB category led with a subscription of 179 times, followed by NIIs at 87 times, and the retail segment at 23.7 times. Azad Engineering is a key manufacturer in various industries, supplying mission-critical components to global original equipment manufacturers in aerospace, defence, energy, and oil and gas.
In the financial year 2023, the company reported a 31% YoY increase in revenue from operations to Rs 261 crore. Despite a 71% decrease in net profit to Rs 8.4 crore during the same period, the company demonstrated robust growth. The revenue grew at a Compound Annual Growth Rate (CAGR) of 43% between FY21 and FY23, while the PAT margin increased at a CAGR of 49% over the same period.