Now Reading: Ardee Industries IPO allotment likely today after 135x subscription
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Ardee Industries IPO allotment likely today after 135x subscription
Ardee Industries IPO allotment likely today after 135x subscription
Ardee Industries’ initial public offering, which closed on August 7, drew bids for nearly 135 times the shares on offer, BSE data shows. The allotment of shares is expected to be finalised…
The Story in Brief
Ardee Industries’ initial public offering, which closed on August 7, drew bids for nearly 135 times the shares on offer, BSE data shows. The allotment of shares is expected to be finalised on August 8 or, if delayed by the weekend, on Monday. Investors can check their status on the BSE website or through registrar KFin Technologies.
In the grey market, the stock is commanding a premium of Rs 15 over the issue price of Rs 53, according to Investorgain. That indicates an estimated listing gain of 28 per cent, though grey market premiums are unofficial. The shares are likely to debut on the BSE and NSE on August 14.
The Indian Opinion
A 135-times subscription and a rising grey market premium create a buzz, but investors should not mistake the grey market for a guarantee. The premium jumped from Rs 7 to Rs 15 in three days, yet such unofficial numbers can vanish on listing day. The real test will be the actual market price on August 14. Will the stock hold the premium or correct once retail euphoria fades?
Sources (2): timesnownews.com, livemint.com
This story was synthesised by AI from the 2 sources linked above.
Updated: this story now draws on 2 sources.
