Now Reading: Ardee Industries IPO gets 133x subscription, GMP jumps to Rs 15
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Ardee Industries IPO gets 133x subscription, GMP jumps to Rs 15
Ardee Industries IPO gets 133x subscription, GMP jumps to Rs 15
The Ardee Industries IPO closed with 133.66 times overall subscription as 41.2 lakh applicants bid over Rs 41,300 crore. The QIB portion was booked 197.77 times, NII 255.25 times and retail 45.71…
The Story in Brief
The Ardee Industries IPO closed with 133.66 times overall subscription as 41.2 lakh applicants bid over Rs 41,300 crore. The QIB portion was booked 197.77 times, NII 255.25 times and retail 45.71 times. Retail investors have a 2.7% chance of allotment (1 in 37), small HNI 0.47% (1 in 211) and big HNI 1.72% (1 in 58). The grey market premium doubled to Rs 14-15 per share, implying a listing pop of 26-28%. Shares will list on BSE and NSE on August 12. Investors can check allotment status on BSE, NSE or the registrar Kfin Technologies websites.
The Indian Opinion
Every oversubscribed IPO is sold as a sure-fire profit, but retail investors have only a 2.7% chance of getting shares. Grey market premiums like Ardee's Rs 14-15 are often pumped up by syndicates and fade on listing day. The real test will be whether Ardee's recycling business can support its valuation amid volatile metal prices. Will the 26-28% pop that the GMP suggests actually hold by the close of day one?
Source: businesstoday.in
This story was synthesised by AI from the source linked above.
