Home / Business and Economy / Ardee IPO Soars: 39% Listing Gain!
Ardee IPO Soars: 39% Listing Gain!
12 Aug
Summary
- Ardee Industries shares surged 39% on their market debut.
- The IPO saw a massive subscription of 133.66 times.
- Listing prices ranged from Rs 72 to Rs 73.60 per share.
Ardee Industries marked a triumphant entry into the stock market on Wednesday, with its shares achieving listing gains of around 39 percent. This impressive debut was fueled by an extraordinary subscription rate of 133.66 times for its Initial Public Offering (IPO), which took place from August 5th to August 7th. The shares commenced trading on the BSE at Rs 73.60, representing a substantial premium of 38.87 percent, and valuing the company at Rs 2,319.88 crore. On the NSE, the listing price was Rs 72 per share, a notable 35.85 percent premium. The Rs 426 crore issue had an initial price band set between Rs 50 and Rs 53 per share. Ardee Industries' market debut significantly surpassed expectations from the grey market, which had predicted gains closer to 30-32 percent, highlighting strong investor demand and positive market reception.
