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IPO● Neutral for Indian equities
Adroit opens higher; Swastika rises as Elevate and ArMee disappoint on debut
The brief
- Adroit Industries made a solid debut, while Swastika Infra shares rose
- Elevate Campuses and ArMee Infotech disappointed on listing
- ArMee Infotech makes weak market debut, listing at a discount
- Adroit Industries IPO subscribed 177 times; Swastika Infra, Elevate Campuses, ArMee Infotech gets full subscription
- Four IPOs from Adroit Industries, ArMee Infotech, Swastika Infra and Elevate Campuses move toward allotment
- ArMee Infotech IPO subscription reported at 1.17x to 2.62x on final day