The initial public offer of Ardee Industries is getting a decent response from investors and has received 12.15 times subscription on the second day of bidding on Thursday so far. According to information available on the National Stock Exchange (NSE), the IPO received bids for 70,95,78,671 shares against 5,84,22,516 shares on offer. The category for non-institutional investors was subscribed 24.87 times, while the retail investor quota received 12.81 times subscription. The portion for Qualified Institutional Buyers (QIBs) was subscribed 1.21 times.
Ardee Industries raises Rs 128 crore
Ahead of IPO, Ardee Industries Ltd, a leading firm in secondary metals and circular economy sectors, raised Rs 128 crore from anchor investors. According to a circular uploaded on the BSE website, it allotted 2.41 crore equity shares to anchor investors at Rs 53 apiece, the upper end of the issue price band.
The anchor book saw participation from Bank of India Mutual Fund, Ashish Kacholia-led Bengal Finance & Investment Pvt Ltd, Rohit Kothari-led Winro Commercial (India) Ltd, The Wealth Company Alternates Trust, India Max Investment Fund Ltd, Cognizant Capital Dynamic Opportunities Fund, IMAP India Capital Investment Trust and Catalyst New India Fund.
Ardee Industries IPO GMP Todayย
According to Investorgain, Ardee Industries’ unlisted shares are trading at a grey market premium (GMP) of Rs 15. Considering the upper price band of Rs 53, the company’s shares are expected to list at around Rs 68, reflecting a grey market premium of 28.30 per cent.
Ardee Industries IPO subscription window
The three-day subscription window will conclude on August 7, 2026. The price band has been fixed at Rs 50-53 per equity share for the issue, valuing the company at Rs 1,671 crore.
Ardee Industries IPO listing date
The company’s equity shares will be listed on both the NSE and the BSE. The shares are expected to make their market debut onย August 12.
Pantomath Capital Advisors is the sole book-running lead manager for the issue, while KFin Technologies is the registrar.
What does the company do?
Ardee Industries operates in the circular economy segment, focusing on recovering and recycling end-of-life energy storage products and non-ferrous scrap.ย ย
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(This article is for informational purposes only and should not be construed as investment, financial, or other advice.)