Four companies made their Dalal Street debut today, September 30, with Adroit Industries listing a premium of 86%, ArMee Infotech at discount of 2%, Swastika Infra at a premium of 8%, and Elevate Campuses at a discount of nearly 2% over their respective IPO prices.

The listings come after the four companies received varying levels of demand from investors during their public issue.

Adroit Industries shares list at Rs 250

Adroit Industries made a strong debut on the stock exchanges, with shares opening at Rs 250 on the BSE, an 86.57% premium to the IPO price of Rs 134. On the NSE, the stock opened at Rs 235, marking a 75.37% premium to the issue price.

The Rs 150.71-crore IPO had attracted strong demand during its three-day bidding period. The issue was subscribed 176.85 times by the time bidding closed on September 25.

Investors placed bids for 139.23 crore shares against 78.73 lakh shares on offer. The non-institutional investor (NII) category was subscribed 332.35 times, while the qualified institutional buyers (QIBs) portion was subscribed 195.04 times. The retail portion was subscribed 99.81 times.

ALSO READ

The IPO had a price band of Rs 126-134 per share and a lot size of 111 shares.

The issue comprised a fresh issue of 98.97 lakh shares and an offer for sale (OFS) of 13.50 lakh shares by promoter entity Mukesh Sangla HUF.

ArMee Infotech lists at Rs 375

ArMee Infotech shares listed flat at Rs 375 on the NSE, while the stock made its BSE debut at a 2% discount to the IPO issue price.

The Gujarat-based IT infrastructure and services provider raised Rs 300 crore through its IPO, which was subscribed 2.44 times during the three-day bidding period.

The QIB portion was subscribed 3.20 times, while the NII category received 2.24 times subscription. The retail portion was subscribed 2.65 times.

ArMee Infotech had fixed its IPO price band at Rs 350-375 per share. The issue consisted entirely of a fresh issue and did not have an OFS component.

ALSO READ

Swastika Infra shares debut at Rs 200

Shares of Swastika Infra made a decent debut, opening at Rs 200 on both the NSE and BSE, compared with the IPO price of Rs 185. This translates into a listing premium of 8.11%.

The Rajasthan-based power project services provider raised Rs 160.88 crore through its IPO. The issue was subscribed 7.60 times by the close of bidding on September 25.

The NII category was subscribed 18.50 times, while the retail portion received 5.39 times subscription. The QIB portion was subscribed 3.22 times.

The IPO had a price band of Rs 175-185 per share. It comprised a fresh issue of Rs 128.50 crore and an OFS of up to 17.50 lakh shares worth around Rs 32.38 crore.

Elevate Campuses makes market debut at Rs 355.10

Shares of Elevate Campuses made a muted debut on the stock exchanges, listing at Rs 355.10 on the NSE, a discount of 1.91% to the IPO price of Rs 362. On the BSE, the stock listed at Rs 356.50, marking a discount of 1.52%.

The Rs 2,100-crore IPO was subscribed 1.79 times during its three-day bidding period from September 23 to September 25.

The issue received bids for 6.02 crore shares against 3.36 crore shares on offer. The QIB portion was subscribed 2.52 times, while the retail category was subscribed 1.01 times. The NII portion was subscribed 84%.

Elevate Campuses had fixed its IPO price band at Rs 343-362 per share. At the upper end of the price band, the issue valued the company at a market capitalisation of around Rs 6,100 crore.

What the listing numbers show

The four IPOs entered the market with very different levels of subscription demand. Adroit Industries recorded an overall subscription at 176.85 times, while Swastika Infra received 7.60 times subscription.

ArMee Infotech was subscribed 2.44 times, while Elevate Campuses saw 1.79 times subscription.