Now Reading: Four mainboard IPOs list with mixed results on 30 September
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Four mainboard IPOs list with mixed results on 30 September
The Story in Brief
Four mainboard IPOs debuted on the BSE and NSE on Wednesday, 30 September, with contrasting performances. Adroit Industries led with listing gains of over 85%, opening at Rs 250 on the BSE, an 86.57% premium, and closing at Rs 248.39 on the NSE. Swastika Infra listed at Rs 200, an 8.11% premium, and hit the upper circuit at Rs 210. Elevate Campuses opened at a 1.91% discount on the NSE and settled at Rs 322.95, an 11% listing loss. ArMee Infotech listed flat on the NSE and then dropped 20% to its lower circuit at Rs 300.
The Rs 151-crore Adroit Industries IPO was subscribed 176.85 times. Swastika Infra's Rs 161-crore IPO was subscribed 7.60 times. ArMee Infotech's Rs 300-crore IPO and Elevate Campuses' Rs 2,100-crore IPO received 2.44 times and 1.79 times subscription respectively. Analysts flagged risks including high debt, customer concentration, and elevated valuations for some firms. Meanwhile, two other IPOs, SRIT India and Shah Investor's Home, entered their final day of subscription on 30 September, with SRIT India's GMP at Rs 33 indicating a potential 25.38% listing gain.
Indian Opinion Analysis
Livemint and The Hindu Business Line reported the closing prices and analyst cautions, while Free Press Journal focused on Adroit Industries' strong debut and subscription details. NDTV Profit provided pre-listing GMP signals for all four IPOs and two ongoing ones. The coverage was uniformly neutral reporting across all outlets, with no discernible slant. Livemint also published a separate H1 FY27 market analysis noting that median listing gains tripled to 15% and mainboard IPO fundraising hit a six-year high of Rs 94,184 crore. The four IPOs listed on 30 September align with that broader trend of strong primary market activity despite weak secondary markets.
Coverage: 14 sources, 14 neutral
Sources (14): ndtvprofit.com (neutral report), ndtvprofit.com (2) (neutral report), ndtvprofit.com (3) (neutral report), ndtvprofit.com (4) (neutral report), ndtvprofit.com (5) (neutral report), ndtvprofit.com (6) (neutral report), ndtvprofit.com (7) (neutral report), ndtvprofit.com (8) (neutral report), livemint.com (neutral report), livemint.com (2) (neutral report), freepressjournal.in (neutral report), thehindubusinessline.com (neutral report), livemint.com (3) (neutral report), livemint.com (4) (neutral report)
This brief was synthesised by AI from the 14 sources linked above, so one read covers every framing they carry. Methodology and corrections.
Update, 30 September 2026: this story now draws on 14 sources.
