The initial public output (IPO) of concrete equipment manufacturer Azex Engineering Limited received 49 per cent applications on the second day of the bid on Tuesday. According to NSE data, the initial stock sales received bids for 68,88,960 shares against the offer of 1,41,49,997 shares.
61 per cent bids were received in the category of non-institutional investors, while 52 per cent applications were received in the category of retail individual investors (RIIs). The category of eligible institutional buyers (QIB) received 33 percent bid. The Kedar Capital -backed company on Friday raised more than Rs 379 crore from anchor investors. The company with Bangalore headquarters will close the initial share sales worth Rs 1,269 crore on Wednesday.
The company has fixed a price scope of Rs 599-629 per share.
First Published – February 11, 2025 | 9:52 pm IST
(Business Standard Staff has changed the headline and photo of this report, the rest of the news has been published without any change from a common news source.)
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