Ardee Industries lists Wednesday on BSE NSE, ₹425.87 cr IPO
Business
Ardee Industries, known for recycling batteries and metal scrap, is making its stock market debut this Wednesday on both BSE and NSE.
The IPO was priced at ₹53 per share and raised a solid ₹425.87 crore.
Ardee Industries IPO oversubscribed 139x
The IPO was a massive hit, oversubscribed 139 times, with allotment wrapped up on August 10.
There's serious hype in the gray market too, with shares trading at a premium that hints at a possible 25.5% jump to the issue price on listing day.
Ardee's revenue has more than doubled in two years, and profits have soared from ₹8.95 crore to ₹84.68 crore, showing just how fast the company is growing.