Key Points
Shares of Azad Engineering debuted on NSE at a premium of 37.4% (Rs 196) at Rs 720 apiece on Thursday..
The IPO of Azad Engineering received a good response from investors with 80.6 times subscription at close..
The company is one of the key manufacturers of qualified product lines supplying to global original equipment manufacturers in the aerospace and defence, energy, and oil and gas industries...
It makes complex and highly-engineered precision forged and machined components that are mission and life-critical and hence, some of their products have a zero parts per million defects requirement...
In the financial year 2023, the company's revenue from operations rose 31% year-on-year (YoY) to Rs 261 crore, while net profit for the same period fell 71% to Rs 8.4 crore...
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Azad Engineering shares to make D-Street debut on Thursday. Here’s what GMP signals
27, Dec, 23If the current trends are sustained, Azad Engineering's shares are expected to list at a premium of 53%. The issue was priced in the range of Rs 499-524.