Azad Engineering's stock got listed in the stock market with such a premium, Sachin Tendulkar has also invested
Stocks of many companies are being listed in the stock market this week. Today the shares of Azad Engineering Ltd are listed on BSE and NSE. The company's shares are listed with a premium. Let us tell you that the IPO of the company got a very good response from the investors. In this report, let us know in detail about the listing of the company's stock.
The process of listing in the stock market is still going on. Today the stocks of Azad Engineering Ltd. company were listed in the share market. Investors have benefited from the company's shares. Today the company's shares have been listed with a premium of 37 percent. After being listed in the stock market, the company's shares have seen a rise.
Today the company's shares made its debut at Rs 710, registering a rise of 35.49 per cent from the issue price on BSE. After this, it increased by 38.83 per cent to Rs 727.50. On NSE, the stock is listed at Rs 720, up 37.40 per cent.
The market valuation of the company stood at Rs 4,219.19 crore during early trading this morning.
Azad Engineering's IPO has received a very good response from investors. On the last day of the IPO i.e. last week on Friday, 80.60 times subscription was received. The price band of the company's IPO is Rs 499 to Rs 524 per share. The company will use the funds raised from this IPO to fulfil its corporate objectives, repay debt and for the growth of the company.
The company includes General Electric, Honeywell International Inc., Mitsubishi Heavy Industries, Siemens Energy, Eaton Aerospace and MAN Energy Solutions SE. Many stars like Sachin Tendulkar, PV Sindhu and Saina Nehwal have invested in this company.
