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Ardee Industries IPO subscribed 98 times as NII demand tops 233x
Ardee Industries' ₹426-crore IPO saw 98x overall subscription, led by NII demand at 233x and QIB at 98x, with retail at 40x.
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Ardee Industries' initial public offering was subscribed 98.07 times as of 3.09 p.m. Friday, with a couple of hours left before the issue closed. The ₹426-crore IPO, priced at ₹50-53 per share, consists of a fresh issue of up to ₹320 crore and an offer-for-sale of up to 1.99 crore equity shares by promoters Sandeep Aggarwal and Nikunj Aggarwal.
The non-institutional investors category saw the strongest demand at 233.29 times the shares on offer. Qualified institutional buyers subscribed 98.32 times their portion, while retail investors came in at 39.98 times.