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Sachin Tendulkar-backed Azad Engineering’s Rs 740-cr IPO subscribed 83 times

IndiaTimes Saturday, 23 December 2023
The IPO of Azad Engineering, backed by Sachin Tendulkar, has been subscribed nearly 83 times. Over 39 lakh applications were received for shares totaling 42,754 crore. The QIB portion was subscribed over 180 times, while the non-institutional investors portion was subscribed over 90 times. The retail portion was subscribed 24 times. The company raised funds from anchor investors such as Abu Dhabi Investment Authority, Nomura Funds Ireland, and Ashoka India Equity Investment Trust.
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