Adroit Industries jumps 86.5% on BSE debut, market cap ₹1,112.82cr
Business
Adroit Industries (India) Ltd made a big entrance on the stock market this Wednesday, with its shares jumping 86.5% above the issue price and opening at ₹250 on the BSE.
This strong debut the company's market valuation was ₹1,112.82 crore, pretty impressive for day one.
Adroit's ₹151cr IPO oversubscribed 176.85 times
The company's ₹151 crore IPO was a hot ticket, oversubscribed 176.85 times overall.
Noninstitutional investors led the charge, but retail and institutional buyers were also eager to get in.
The buzz shows investors are feeling confident about Adroit's future in propeller shafts and torque-transmission components.