23 The IPO of Adroit Industries, which opened on September, closed on 25 September. The company’s IPO has received bumper support from investors. Adroit Industries’ Rs 151-crore IPO received bids for 1,39,22,95,200 shares against an offer of 78,72,900 shares, according to NSE data. In this way the IPO received 176.85 times subscription.
Shares will be issued at Rs 134
In the IPO, NII category got the maximum subscription of 332.35 times, QIB got 195.04 times and retail investors’ portion got 99.81 times. The price range of Adroit Industries (India) Limited’s IPO is Rs 126-134 per share. However, shares will now be issued to investors at a price of Rs 134.
A total of 1,12,47,000 shares will be issued in the IPO worth Rs 151 crore.
Adroit Industries will issue a total of 1,12,47,000 shares for Rs 151 crore, under its IPO. In this, 98,97,000 fresh shares worth Rs 133 crore will be issued. Apart from this, the promoters of the company will sell 13,50,000 shares through OFS from their stake for Rs 18 crore.
Retail investors will get 111 shares in one lot
Retail investors will get 111 shares in one lot, for which a minimum investment of Rs 14,874 has been made. Retail investors could bid for a maximum of 13 lots in this IPO, for which they had to invest Rs 1,93,362 and for this amount they would get 1443 shares.
The company will be listed in the stock market on September 30.
After the closure of the IPO, the allotment of shares will now be done on Monday, September 28. Shares will be credited to the demat accounts of investors on September 29. Investors who did not receive shares will also be refunded on September 29. This is a mainboard IPO, which will be listed on BSE and NSE on 30 September.
GMP price reached Rs 47
According to investorgain.com, a website that tracks GMP prices of IPOs, on September 26, Adroit Industries shares were trading at a GMP (grey market premium) price of Rs 47 (35.07 per cent) in the gray market. Let us tell you that this is the highest ever gray market premium for the shares of the company. However, it may fluctuate at the time of listing.
Disclaimer: This article has been written for information purposes only. Always consult your financial advisor before making any kind of investment or taking any financial risk. India TV will not be responsible for any kind of risk.
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