# Adroit Industries lists at 86% gain, Swastika rises, ArMee and Elevate fall 2026-09-30T10:17:02+00:00 | Governance | Indian Opinion Desk Corroboration: 4 independent outlets (12 source reports) Adroit Industries shares listed at Rs 250 on the BSE on Wednesday, 30 September, an 86.57% premium over the issue price of Rs 134, and hit the 5% upper circuit at Rs 248.39. The Rs 151-crore IPO was subscribed 176.85 times. Swastika Infra listed at Rs 200, an 8.11% premium, and rose to the upper circuit at Rs 210. Elevate Campuses opened at a 1.91% discount on the NSE and fell over 3%. ArMee Infotech listed flat on the NSE then dropped 20% to its lower circuit at Rs 300. Three other IPOs completed their subscription on the same day. SRIT India's Rs 218-crore issue was subscribed 18.74 times with a grey market premium of Rs 33, implying a 25.38% listing gain. Shah Investor’s Home's Rs 90-crore issue was subscribed 3.74 times with a GMP of Rs 15, indicating an 8.98% gain. Both issues are set for allotment on 1 October and listing on 6 October. Vishal Nirmiti and Nityas Gems & Jewellery IPOs opened for subscription on 30 September, with GMPs of Rs 2 and Rs 9 respectively. Update, 30 September 2026: SRIT India's IPO was subscribed 18.74 times by the final day, with a GMP of Rs 33, Livemint and The Hindu Business Line report. Shah Investor's Home was subscribed 3.74 times with a GMP of Rs 15. Two new IPOs, Vishal Nirmiti and Nityas Gems & Jewellery, opened for subscription on 30 September, NDTV Profit and The Hindu Business Line confirm, with GMPs of Rs 2 and Rs 9 respectively. Allotment for the closed issues is on 1 October, listing on 6 October. ## Indian Opinion Analysis The coverage of the four IPO listings on 30 September is uniform across outlets, all reporting the same listing prices, subscription figures, and post-listing moves. NDTV Profit, Livemint, Free Press Journal, and The Hindu Business Line each lead with Adroit Industries' 86% gain, then contrast Swastika Infra's 8% rise with the flat or negative debuts of ArMee Infotech and Elevate Campuses. The only variation is depth: The Hindu Business Line adds analyst commentary on risks for each stock, while the others report price action without forward-looking cautions. Every source confirms the same subscription numbers, Adroit at 176.85 times, Swastika at 7.6 times, ArMee at 2.44 times, Elevate at 1.79 times, and all note that SRIT India and Shah Investor’s Home IPOs close for subscription on the same day. The uniform data leaves the investment judgment to the reader. ## Coverage Coverage: 12 sources, 12 neutral - ndtvprofit.com (neutral report) Straight price and subscription data, no slant. - ndtvprofit.com (2) (neutral report) GMP data only, no editorialising. - ndtvprofit.com (3) (neutral report) Reports subscription status with factual GMP. - ndtvprofit.com (4) (neutral report) Compares GMPs without preference. - ndtvprofit.com (5) (neutral report) GMP detail only, no commentary. - ndtvprofit.com (6) (neutral report) GMP detail only, no commentary. - ndtvprofit.com (7) (neutral report) Factual preview of all four listings. - ndtvprofit.com (8) (neutral report) GMP-only story, no slant. - livemint.com (neutral report) Comparison of GMP trends with subscription data. - livemint.com (2) (neutral report) Price action and subscription numbers only. - freepressjournal.in (neutral report) Deal-focused report, factual throughout. - thehindubusinessline.com (neutral report) Adds analyst risk commentary but no partisan framing. This brief was synthesised by AI from the 12 sources linked above, so one read covers every framing they carry. Tags: Adroit Industries, ArMee Infotech, BSE, Elevate Campuses, NSE, Swastika Infra Canonical: https://indianopinion.org/adroit-industries-lists-at-86-57-premium-three-other-ipos-debut/ License: Summary and commentary (c) Indian Opinion, reusable with attribution. Facts belong to the linked sources. Cite: https://indianopinion.org/adroit-industries-lists-at-86-57-premium-three-other-ipos-debut/#story-in-brief How this brief was made: an AI model read the reports linked above and wrote this summary and analysis, which were published automatically. Published briefs are sampled every hour by an automated quality check; the editor verifies its findings and approves corrections, and corrected briefs carry a dated correction line. Stance labels are editorial classifications of how each outlet framed this story, assigned by the same model, not ratings of the outlets. We do no original reporting. Methodology: https://indianopinion.org/ai-use-policy/