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Ardee Industries IPO shares debut at about 39% premium on BSE

The IPO, priced at ₹53, raised ₹425.87 crore in a book-build issue and saw early profit-booking after listing.

Reported · Written up by our desk · IPOs

Ardee Industries shares began trading on Wednesday, 12 August, listing at ₹73.60 on the BSE and at ₹72 on the NSE, reflecting premiums of 38.87% and 35.85% versus the IPO price of ₹53, according to LiveMint Markets.

Shares later fell from their opening levels to around ₹68.07 on the BSE and ₹68.11 on the NSE after what the report described as profit-booking.

Ahead of the official trading, grey market sources had pegged the grey market premium at as high as ₹17 on Wednesday morning, implying the stock could list around a 32% premium.

The company’s book-build IPO collected ₹425.87 crore, made up of a fresh issue of 6.04 crore shares worth ₹320 crore and an offer for sale of 2 crore shares worth ₹105.87 crore, and it closed its subscription window on 7 August after attracting 139 times subscription.

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