Ardee Industries Debuts on NSE with 35.8% Premium

Ardee Industries shares listed at ₹72 on the NSE, a 35.8% premium over the ₹53 issue price, following an IPO subscription of 133.66 times.

Retail investors who received an allotment of 281 shares made a profit of ₹5,339 per lot, with the total investment value rising to ₹20,232.

The company plans to use ₹20 crore of the ₹425.87 crore IPO proceeds for debt repayment and ₹220 crore for incremental working capital requirements.