Azad Engineering IPO: The issue was subscribed to a total of 80.65 times during the bidding period, which began on December 20 and ended on December 22.
Azad Engineering Ltd. has completed the allotment of its shares for its IPO on Tuesday, December 26, and bidders can monitor the status online. Investors who applied for Azad Engineering’s 740 crore IPO can monitor the share allotment status on the BSE website or the registrar’s official website.
During the three days of the company’s IPO bidding process, which completed last week, investors responded positively to Azad Engineering’s public offering. The issue was subscribed to a total of 80.65 times during the bidding period, which began on December 20 and ended on December 22.
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The retail category received bids for shares that were 23.71 times the limit set aside for the sector, while the non-institutional investor category saw shares subscribed at a remarkable 87.61 times. The quota reserved for qualified institutional bidders (QIBs) was filled 179.66 times in total.
Here’s how to check IPO allotment status
Kfin Technologies Ltd. has been selected as the IPO’s official registrant. Bidders can check the status of the IPO allotment on the registrar’s website as well as the BSE’s official websites.
They can check the status of their allotment on BSE by following a few simple steps:
1) Visit official BSE site: https://www.bseindia.com/investors/appli_check.aspx
2) Select ‘Equity’ from ‘Issue Type’ section
3) Click on ‘Azad Engineering Limited’ from the drop-down list
4) Enter your application number or PAN
6) Click on submit.
You can also check the status of your share allotment on the registrar’s website at https://rti.kfintech.com/ipostatus/. When you open the website, you can check the status by entering your PAN, demat account number, or application number.
Frequently asked questions
How do I check my Azad IPO allotment status?
Visit the website of IPO registrar Kfin Technologies. Select “Azad Engineering Limited” from the “Select IPO” selection. To check the status, select one of the three options: Application No., Demat Account, or PAN. Fill in the blanks with the information from the selected choice.
What if the IPO is not allotted?
If an investor does not receive an allotment or only receives a portion of an allotment, the registrar or bank must unblock the entire or partial amount. If the issuer does not get a minimum subscription of 90% of the net offering, the money must be refunded or the subscription amount released.
How many days after IPO shares are allotted?
What is the IPO allocation date? If you have applied for an IPO, you should be aware of the IPO allotment date. The corporation sets an allotment date one week after the subscription date, during which the registrar completes the allotment finalization process.
What is the best time to fill an IPO?
Except on stock exchange holidays, subscription applications are accepted between 10:00 a.m. and 5:00 p.m. on days when the IPO is open for subscription. When an IPO is open for bidding, most banks and stock brokers allow investors to make an application at any time (24 hours).
How do I sell my IPO shares?
- Sell on the day of listing.
- Partial selling on a listing day to cover your expenses. …
- Selling in installments. …
- Selling 50% upfront and 10% every quarter.
What is the basis of allotment?
Definition of Basis Of Allotment
The basis of allotment is the criteria used to allocate shares to investors, most notably during initial public offerings (IPOs). Criteria, or the foundation for allocation, include the following information: The “basis” for the trading method is the gap between spot and futures prices.
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