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IPO● Neutral for Indian equities
ArMee Infotech IPO subscription reported at 1.17x to 2.62x on final day
The brief
- Subscription figures differed: 1.17x, 1.5x and 2.62x
- Business Standard reported bids for 1.81 crore shares against 74.30 lakh offered
- IPO demand offers a read on appetite for new listings among Indian retail investors
- 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