What brokerages say on Ardee Ind IPO that opens today?

Ardee Industries Ltd is set to launch its ₹426-crore initial public offering (IPO) today, with a price band of ₹50-53. The IPO comprises 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 company has reserved up to 50% of the net public issue shares for Qualified Institutional Buyers (QIB), 35% for retail investors, and about 15% for non-institutions.

Bids can be made for a minimum of 281 Equity Shares, with multiples of 281 thereafter. The IPO has already seen participation from seven anchor investors, raising ₹127.75 crore at ₹53 per share. The combined pre-IPO and anchor investor participation demonstrates strong institutional conviction in the company. Pantomath Capital Advisors Private Limited is the book running lead manager for the issue.

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