Shares of Ardee Industries Ltd, a leading firm in the secondary metals and circular economy sectors, are expected to make a strong debut on bourses today, i.e., on August 12, 2206, as the public issue received strong investor participation. The Rs 426-crore initial public offering of Ardee Industries got subscribed 133.66 times on the final day of bidding on Friday. According to data available on the National Stock Exchange (NSE), it received bids for 7,80,88,19,433 shares against 5,84,22,516 shares on offer. The price band for the IPO was fixed at Rs 50-53 per equity share, valuing the company at Rs 1,671 crore. Ahead of the listing, the Ardee Industries IPO is commanding a grey market premium (GMP) of around Rs 17 today, implying a potential 32.08 per cent premium over the issue price of Rs 53.
