Azad Engineering IPO Subscription Status
Azad Engineering IPO was subscribed 82.4 times when bidding closed on 22 Dec 2023: QIB 179.64x, NII 90.24x, Retail 24.51x.
The Azad Engineering IPO has been subscribed 82.4x times overall. Retail investors have shown interest with bids for 24.51x the shares available. The Non-Institutional Investor (NII) category has been subscribed 90.24x. Within NII, Big HNI (B-HNI) subscribed 93.3x and Small HNI (S-HNI) subscribed 84.12x. Qualified Institutional Buyers (QIBs) have subscribed 179.64x. Data last updated on 10 Nov, 06:27 PM.
The IPO subscription period has ended. Given the strong demand, the allotment process is expected to be highly competitive. The issue opened on 20 Dec, 2023 and closes on 22 Dec, 2023. The shares are expected to list on stock exchanges on 28 Dec, 2023.
Researched & reviewed by
Abhishek Vohera,
Founder, IPO Guru
Last updated
Figures sourced from the RHP, BSE & NSE
Live bidding
Shares bid against shares offered, category by category, as published by the exchanges. Summary splits NII into bHNI (above ₹10 lakh) and sHNI (₹2–10 lakh); switch to Detailed for the exchange's own sub-category rows.
| Category | Bid details | Times |
|---|---|---|
| QIB | - of - - | 179.64x |
| NII | - of - - | 90.24x |
bHNI — bid amount above ₹10 Lakh |
- - | 93.3 |
sHNI — bid amount ₹2–10 Lakh |
- - | 84.12 |
| Retail | - of - - | 24.51x |
| TOTAL | - - | 82.4x |
Azad Engineering IPO allotment probability
Your odds of an allotment in each category at the current subscription.
Odds = allotment slots ÷ applications, or the subscription multiple where counts aren't available. Retail and HNI allotment is by lottery; QIB is proportionate. Not investment advice.
Subscription insights
What the current book is saying, read off the category numbers above.
Retail Allotment
High demand detected. The retail category is heavily oversubscribed, making the allotment a lottery where only 1 out of every 25 applicants will be successful.
Market Sentiment
Strong grey market premium of 57% suggests exceptional listing gains and high bullish sentiment among traders.
Institutional Backing
Massive institutional interest with QIBs subscribing 179.64x. This often signals long-term confidence from professional funds.
Day-wise subscription history
End-of-day subscription across the 3-day bidding window. On phones, tap a day for the category split.
| Date | Total | ||
|---|---|---|---|
|
22 Dec 2023
Day 3 |
82.4x | ▼ | |
|
QIB179.64x
BHNI93.3x
SHNI84.12x
Retail24.51x
|
|||
|
21 Dec 2023
Day 2 |
11.11x | ▼ | |
|
QIB1.53x
BHNI20.17x
SHNI30.28x
Retail11.17x
|
|||
|
20 Dec 2023
Day 1 |
3.18x | ▼ | |
|
QIB0.05x
BHNI4.6x
SHNI8.31x
Retail3.8x
|
|||
Azad Engineering IPO dates
From the bidding window 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
What does this subscription data mean?
IPO subscription data tells you how much demand exists for the shares being offered, broken down by investor category. Understanding each category helps you gauge the real sentiment behind the numbers:
- 01 QIB (Qualified Institutional Buyers) — includes mutual funds, FIIs, insurance companies, and banks. QIBs do deep due diligence before bidding. A QIB subscription above 10x is a strong institutional endorsement. Watch QIB numbers closely on the final day — they often hold back and flood in after 3 PM.
- 02 NII / HNI (Non-Institutional Investors) — high-net-worth individuals bidding above ₹2 lakh. NII allotment is proportionate (not lottery), so higher NII subscription means smaller per-lot allotment. Big HNI (B-HNI) bids above ₹10 lakh; Small HNI (S-HNI) bids ₹2–10 lakh.
- 03 Retail — individual investors bidding up to ₹2 lakh. When retail is below 1x, everyone who applied gets full allotment. When oversubscribed, SEBI mandates a computerised lottery — only 1 lot per successful applicant regardless of how many lots you apply for.
- 04 Overall Subscription — a blended multiple across all categories. A total subscription above 10x is considered strong; above 50x is exceptional and usually predicts strong listing gains.
Data sourced from BSE/NSE. Subscription numbers are updated during bidding hours (10 AM – 5 PM IST) on active subscription days.
Frequently asked
What is the current subscription status of Azad Engineering IPO?
As of IPO close date (22 Dec, 2023), the Azad Engineering IPO is subscribed 82.4x times. Retail category is 24.51x, and NII is 90.24x subscribed.
When is the allotment date for Azad Engineering IPO?
The allotment for Azad Engineering IPO is expected to be finalized on 26 December, 2023.
What is the GMP of Azad Engineering?
The Grey Market Premium (GMP) for Azad Engineering is currently ₹300, indicating a potential listing gain of 57%.
When will Azad Engineering IPO list on the stock market?
Azad Engineering is scheduled to list on BSE and NSE on 28 December, 2023.
What are the chances of getting allotment in Azad Engineering IPO?
The retail category is oversubscribed at 24.51x, meaning allotment is by lottery. Statistically, approximately 1 in 25 applicants will receive allotment. Applying with multiple family member accounts (each at minimum lot size) improves your cumulative odds.
What does QIB subscription of 179.64x mean for Azad Engineering IPO?
Strong — QIBs (mutual funds, FIIs, insurance companies) have subscribed 179.64x, indicating high institutional conviction. Heavy QIB demand is historically one of the strongest predictors of a positive listing.
How to check Azad Engineering IPO allotment status?
After the allotment date (26 Dec, 2023), you can check your Azad Engineering IPO allotment status on IPO Guru's allotment checker, on the BSE/NSE website using your PAN or application number, or through your broker's app.
Explore Azad Engineering IPO further
Track every stage of this IPO, from subscription to listing.
It has listed — go back to the fundamentals.
Live grey market premium, Kostak and Subject to Sauda, with the day-wise trend.
What brokers and analysts are saying about this issue, in one place.
Check with your PAN whether shares were credited to your demat account.
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Not investment advice. Subscription figures are as published by BSE/NSE and change until bidding closes.
