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The latest announcement is out from Azad Engineering Limited ( (IN:AZAD) ).
Azad Engineering Limited has announced a Qualified Institutional Placement (QIP) of equity shares, targeting eligible qualified institutional buyers (QIBs) under SEBI regulations. This strategic move aims to raise capital through private placement, enhancing the company’s financial position and potentially strengthening its market presence. The equity shares will be listed on the National Stock Exchange of India Limited and BSE Limited, with the company having received in-principle approvals for the listing. This issue is not open to the general public and involves significant investment risks, as outlined in the company’s preliminary placement document.
More about Azad Engineering Limited
Azad Engineering Limited, originally incorporated as Azad Engineering Private Limited in Hyderabad, Telangana, operates in the engineering industry. The company has transitioned from a private to a public limited company, focusing on the manufacturing and distribution of engineering products.
YTD Price Performance: -28.28%
Average Trading Volume: 26,290
Learn more about AZAD stock on TipRanks’ Stock Analysis page.