Azad Engineering IPO - Key Details You Need to Know
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- Published 21 Dec 2023
Key Details of Azad Engineering IPO
IPO Closes On | December 22 |
Price Band | Rs 499 - 524 per equity share |
IPO Lot | 28 shares and in multiples thereafter |
Fresh issue | Rs 240 crore |
Offer for Sale | Rs 500 crore |
50% of the offer has been reserved for qualified institutional buyers, 35% for retail investors, and 15% for non-institutional investors.
Offer Objectives
With the funds raised, the company plans to:
- Fund its capital expenditure including manufacturing equipment and technology for the production of its products
- Repay in part or full its certain borrowings (debt)
It plans to utilize the remaining portion of the IPO proceeds for general corporate purposes.
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