Adroit Industries Shares Make Strong Debut, Rise 87% Over IPO Price

Adroit Industries shares made a strong debut on the stock exchanges today, listing at a premium of nearly 87% over the IPO issue price. On the National Stock Exchange (NSE), the stock opened at Rs 250, marking an 86.57% premium to its issue price of Rs 134. On the BSE, the shares began trading at Rs 235.

Swastika Infra also recorded a positive listing.

Its shares debuted at Rs 200 on the exchange, representing an 8.10% premium over the issue price of Rs 185.

ArMee Infotech made a flat debut on the NSE, while Elevate Campuses opened at a 1.9% discount to its issue price of Rs 362.

Adroit Industries IPO Gets 177 Times Subscription

Adroit Industries received a strong response from investors during its IPO. The issue was subscribed 177 times on the final day of bidding on Friday.

Swastika Infra’s Rs 161-crore IPO was subscribed 7.60 times, while ArMee Infotech’s public issue received 2.44 times subscription.

Meanwhile, the Rs 2,100-crore IPO of Elevate Campuses, which operates in student accommodation and K-12 education, was subscribed 1.79 times by the close of bidding on Friday.

Adroit Industries IPO GMP Today

According to Investorgain, Adroit Industries’ shares were commanding a grey market premium (GMP) of around Rs 55 before listing. Based on the IPO issue price of Rs 134, this indicated a potential premium of 41.04%.

Established in 1966, Adroit Industries is a vertically integrated manufacturer and supplier of propeller shafts, also known as drive shafts or cardan shafts, along with other torque-transmission components.

The company has in-house capabilities covering forging, precision machining, heat treatment, assembly, balancing and testing.

Swastika Infra and Elevate Campuses IPO GMP

Before its market debut, Swastika Infra’s unlisted shares were trading at a grey market premium of around Rs 7. Based on the upper price band of Rs 185, the shares were expected to list at approximately Rs 192, implying a GMP of 3.78%.

Elevate Campuses’ unlisted shares were trading at a GMP of around Rs 6.5 ahead of listing.

With the upper issue price set at Rs 362, the shares were expected to list at nearly Rs 368.5, indicating a grey market premium of 1.80%.

The Rs 2,100-crore Elevate Campuses IPO said the funds raised would be used for acquiring K-12 entities and campuses, repaying debt and meeting general corporate requirements.

ArMee Infotech IPO GMP Today

ArMee Infotech shares were commanding a grey market premium of around Rs 6 before listing. Against the issue price of Rs 375, the GMP indicated a potential premium of approximately 1.60%.

Disclaimer

The information provided in this article is based on available IPO and market-related data and is intended for informational purposes only. It should not be considered investment advice or a recommendation to buy or sell any security. Investors should conduct their own research and consult a qualified financial advisor before making investment decisions.