Ardee Industries IPO Listing: Shares List At 39% Premium On BSE After 133.66 Times IPO Subscription
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Ardee Industries made a strong stock market debut, with shares listing at almost a 39% premium on BSE after its IPO drew 133.66 times subscription.
Ardee Industries shares made a strong debut on Wednesday, listing nearly 39% above the issue price on the Bombay Stock Exchange (BSE). The company’s ₹426-crore initial public offering (IPO) was subscribed 133.66 times.
The shares got listed at ₹73.60 apiece on the BSE, against the IPO price of ₹53, marking a premium of 38.87%. The stock’s market capitalisation stood at ₹2,319.88 crore after listing. On the National Stock Exchange (NSE), Ardee Industries shares opened at ₹72, representing a 35.85% premium to the issue price.
Ardee Industries IPO And Subscription
Ardee Industries IPO price band was fixed at ₹50-53 per share. The issue was open for subscription from 5 August to 7 August. The heavy subscription came after Ardee Industries raised ₹128 crore from anchor investors ahead of the issue.
About Ardee Industries
Ardee Industries operates in the secondary metals and circular economy segments. The company focuses on recovering and recycling end-of-life energy storage products and non-ferrous scrap.
It also recovers critical resources from waste streams and manufactures pure lead and lead alloys. These products are used across energy storage, electric mobility, automotive and chemical applications.
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