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IPO● Neutral for Indian equities
Adroit Industries IPO subscribed 177 times; Swastika Infra, Elevate Campuses, ArMee Infotech gets full subscription
The brief
- Adroit Industries IPO was subscribed 177 times; its non-institutional category saw 332.35 times subscription
- Swastika Infra, Elevate Campuses and ArMee Infotech received full subscription
- Heavy demand signals appetite for SME listings, but offers no direct earnings read-through for listed Indian companies
Adroit Industries IPO subscription
Adroit Industries’ Rs 150.71-crore IPO had a 25% grey-market premium and 5.18 times subscription on Day 2. By the close, it was subscribed 177 times, with the non-institutional category subscribed 332.35 times.
Monday, 28 September
Saturday, 26 September
- Adroit Industries IPO subscribed 177 times; Swastika Infra, Elevate Campuses, ArMee Infotech gets full subscription