Shares of Azad Engineering have recovered over 105 per cent return from its recent lows. It hit its 52-week high of 1,465 on March 5, 2024, and a 52-week low of Rs 641.95 on January 17, 2024.
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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.
The strong listing comes on the back of good interest shown by investors in the company s Rs 740-crore public issue. Qualified institutional buyers took the lead, buying 179.66 times the allotted quota
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.