Adroit Industries IPO Listing: Shares Debut With Up To 87% Premium Over Issue Price

Adroit Industries shares made a strong debut on the stock exchanges on Wednesday, September 30, listing at a premium of up to 86.57 per cent over the issue price of Rs 134 per share.

The shares listed at Rs 250 on the BSE, marking a gain of Rs 116, or 86.57 per cent, over the IPO price. On the National Stock Exchange (NSE), the stock debuted at Rs 235, up Rs 101, or 75.37 per cent.

The strong listing came after the Rs 150.71 crore initial public offering (IPO) of Adroit Industries (India) Limited received a massive response from investors. The issue was subscribed 176.85 times during the three-day bidding period from September 23 to September 25.

The IPO received bids for 139.23 crore shares against 78.73 lakh shares offered to public investors.

Qualified institutional buyers (QIBs) subscribed to their portion 195.04 times, while the non-institutional investor (NII) category was subscribed 332.35 times. Retail investors subscribed to 99.81 times the shares reserved for them.

The IPO comprised a fresh issue of 98.97 lakh shares worth Rs 132.62 crore and an offer for sale (OFS) of 13.50 lakh shares aggregating to Rs 18.09 crore.