Azad Engineering IPO GMP History
Azad Engineering IPO has been listed on December 28, 2023 at a listing price of ₹720, against the issue price of ₹524 — a gain of ₹196 (+37.4%). The GMP peaked at ₹450 on 20 December 2023 and reached a low of ₹300 on 27 December 2023. The day-wise GMP trend below shows how grey market sentiment evolved from subscription to listing.
Azad Engineering IPO raised ₹740 Cr. through its IPO at a price band of ₹499 to ₹524 per share, with a lot size of 28 shares. The IPO was open for subscription from 20 Dec 2023 to 22 Dec 2023.
Researched & reviewed by
Abhishek Vohera,
Founder, IPO Guru
Last updated
Figures sourced from the RHP, BSE & NSE
GMP trend
Grey market premium sampled three times a day (11 AM, 5 PM, 10 PM). Last updated 10 Nov, 6:27 PM IST.
Day-wise GMP
The last reading of each day, newest first. Arrows compare with the previous day.
| Date | GMP | ↑↓ | % | Kostak | Sub. Sauda |
|---|---|---|---|---|---|
| 27 Dec 2023 | ₹ 300 | — | 57% | — | — |
| 26 Dec 2023 | ₹ 300 | ▼ | 57% | — | — |
| 23 Dec 2023 | ₹ 400 | ▲ | 76% | — | — |
| 22 Dec 2023 | ₹ 370 | ▼ | 71% | — | — |
| 21 Dec 2023 | ₹ 410 | ▼ | 78% | — | — |
| 20 Dec 2023 | ₹ 450 | ▲ | 86% | — | — |
| 19 Dec 2023 | ₹ 430 | ▲ | 82% | — | — |
| 18 Dec 2023 | ₹ 400 | — | 76% | — | — |
| 16 Dec 2023 | ₹ 400 | — | 76% | — | — |
Azad Engineering IPO dates
Key dates from opening to listing. Today is 11 November.
- Open 20 Dec 2023
- Close 22 Dec 2023
- Allotment 26 Dec 2023
- Refund/credit 27 Dec 2023
- Listing 28 Dec 2023
Azad Engineering IPO actual listing price
How the grey market's final call compared with the listing-day open.
| Issue price | ₹524 |
|---|---|
| GMP-based estimate (pre-listing) | ₹824 (+57.3%) |
| Listing gain / loss | +₹196 per share |
| Listing date | 28 Dec, 2023 |
| Actual listing price | ₹720 (+37.4%) |
Is Azad Engineering IPO GMP reliable?
Grey market premium for Azad Engineering IPO should be interpreted with caution. The GMP is an unregulated, unofficial market not governed by SEBI. Here's how to read the current signal:
- 01Subscription rate matters: A high GMP paired with strong subscription — especially QIB (Qualified Institutional Buyer) oversubscription — is a more reliable bullish signal than GMP alone. Read our in-depth analysis: GMP vs Subscription Data — Which Predicts Listing Gains Better?
- 02Timing matters: GMP in the first 1–2 days of subscription is less reliable. GMP on the final subscription day and the day before listing tends to be the most accurate predictor.
- 03Grey market is thin: For smaller IPOs, even a handful of large orders can swing the GMP significantly. Treat low-volume GMP signals with extra caution.
- 04Cross-check before acting: Review the Azad Engineering IPO full review for a fundamentals-based assessment before making any grey market trades.
Azad Engineering IPO Kostak rate explained
Two ways the grey market trades an IPO application before listing.
The Kostak rate for Azad Engineering IPO was not available during the subscription period. Kostak is the fixed amount a grey market buyer pays for an IPO application regardless of allotment outcome.
The Subject to Sauda price was not available for this IPO. Subject to Sauda only applies if allotment is confirmed — the buyer pays a premium on top of the issue price per lot allotted.
Grey market trading is unofficial and unregulated by SEBI. Proceed with full awareness of the associated risks.
About Azad Engineering IPO
Azad Engineering Limited was incorporated as Azad Engineering Private Limited at Hyderabad on 14 September 1983. As per the EY report, it is one of the key makers of its qualified product lines for global OEMs in energy, aerospace and defence, and oil and gas.
It makes highly engineered precision forged and machined components that are mission and life-critical, and some products carry a zero parts per million defects requirement.
In the six months to 30 September 2023, airfoils and blades for the energy industry made up 72.00% of its revenue from operations. Its promoter is Rakesh Chopdar.
The IPO was Rs 740 crore, with Rs 240.00 crore of fresh issue and Rs 500.00 crore of offer for sale by the promoter, Piramal Structured Credit Opportunities Fund and DMI Finance. Rs 138.19 crore was planned for repaying borrowings and Rs 60.40 crore for capital expenditure.
Frequently asked
What is the GMP of Azad Engineering IPO?
The current Grey Market Premium (GMP) of Azad Engineering IPO is ₹ 300.
What is the Kostak Price of Azad Engineering IPO?
Kostak rate is the profit made by selling an IPO application before allotment. The current Kostak rate for Azad Engineering IPO is not available.
What is the Subject to Sauda Price of Azad Engineering IPO?
Subject to Sauda is the premium amount decided if the allotment is confirmed. The current Subject to Sauda rate is not available.
What was the actual listing price of Azad Engineering IPO?
Azad Engineering IPO listed on December 28, 2023 at ₹720, against the issue price of ₹524 — a gain of +37.4%.
How did the GMP of Azad Engineering IPO trend before listing?
The GMP of Azad Engineering IPO was stable in its final days before listing. The GMP peaked at ₹450 on 20 December 2023. View the day-wise table above for the complete GMP history.
Explore Azad Engineering IPO further
The grey market is one signal. Read it alongside the demand, the reviews and the filings before you decide.
It has listed — go back to the fundamentals.
Category-wise demand from QIB, NII and retail investors, updated through the day.
What brokers and analysts are saying about this issue, in one place.
Check with your PAN whether shares were credited to your demat account.
The grey market called it. Now check the fundamentals.
IPO Guru tracks GMP, subscription and allotment for every Mainboard and SME issue. Read the grey market alongside the subscription book and the offer document before you apply.
Not investment advice. Grey market premium is an unofficial, unregulated indicator and is not a forecast.
