Sachin Tendulkar-backed Azad Engineering offered its shares in the fixed price band of Rs 499-524 apiece with a lot size of 28 equity shares between December 20-22.
Shares of Azad Engineering were listed at Rs 720 apiece, a premium of 37.40 per cent on National Stock Exchange (NSE) and at Rs 710, a premium of 35.5 per cent on BSE.
Azad Engineering share price: The IPO of Azad Engineering received a good response from investors with 80.6 times subscription at close. The category reserved for QIB was subscribed the most at 179 times, followed by NIIs at 87 times. The retail part received 23.7 times bids. The issue was a fresh equity of Rs 240 crore and an offer for sale (OFS) of Rs 500 crore.