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Adroit Industries shares surge on debut, opening far above IPO price

The Adroit Industries IPO was subscribed 176.9 times during its three-day window, according to the report.

Reported · Written up by our desk · IPOs

LiveMint Markets reports that four mainboard IPOs began trading on Wednesday, September 30, including Adroit Industries, Elevate Campuses, Swastika Infra, and ArMee Infotech.

Adroit Industries stock debuted with strong gains, opening at ₹250 on the BSE and at ₹235 on the NSE, both reflecting large premiums versus its IPO price of ₹134.

The shares later hit a 5% upper circuit, trading at ₹248.39 per share, after what the outlet described as a blockbuster debut.

The report says Adroit Industries raised ₹150.7 crore in the IPO and was subscribed 176.9 times, with bids totaling 139.23 crore shares against 78.73 lakh shares available.

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Sources