Home / Business and Economy / Ardee Industries IPO: NIIs Fuel Massive Subscription
Ardee Industries IPO: NIIs Fuel Massive Subscription
10 Aug
Summary
- Non-institutional investors subscribed 255 times to their quota.
- Grey market premium indicates a 30.19% potential listing gain.
- Stock expected to list at Rs 69 per share based on upper band.
Non-institutional investors (NIIs) have demonstrated significant enthusiasm for the Ardee Industries IPO, subscribing their allocated quota an impressive 255.24 times. This category led the subscription race, highlighting strong retail and high-net-worth individual interest.
Qualified institutional buyers (QIBs) were also keen, subscribing their portion 197.77 times. Retail investors followed, with their quota subscribed 45.71 times, indicating broad-based demand across all investor categories.
As the share allotment process nears, Ardee Industries shares are actively traded in the unlisted market. The current grey market premium (GMP) stands at Rs 16. This premium, when factored with the upper end of the IPO price band, suggests an anticipated listing price of Rs 69 per share, potentially delivering a substantial 30.19% listing gain for investors.
