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Ardee Industries IPO set to debut today at 10:00 IST
The IPO priced in a ₹50 to ₹53 band and carries a reported +14.5 GMP, implying an estimated listing price of ₹67.5, about 27.4% above the top end.
Ardee Industries IPO is scheduled to list on Wednesday, 12 August, with trading set to start at 10:00 IST on both BSE and NSE, following allotment finalised on Monday, 10 August, according to BSE details.
BSE also said the shares will be listed under the 'B' Group of Securities and made available for trading starting Wednesday, with Ardee Industries equity shares trading in a special pre-open session during the day’s trades.
The offering drew bids from multiple investor categories, including non-institutional investors, who subscribed 255.24 times, and qualified institutional buyers, at 197.77 times, while retail investors subscribed 45.71 times, based on BSE data.
The IPO price band was set at ₹50 to ₹53 per equity share, and the grey market premium is reported at +14.5. LiveMint Markets said that, based on the upper end of the price band and grey market premium, the estimated listing price was ₹67.5 per share, about 27.4% above ₹53, and that the IPO included a fresh issue of up to ₹320 crore plus an offer for sale of 1.99 crore equity shares by promoters.