Adroit Industries gains 85%, Swastika Infra hits upper circuit, ArMee, Elevate fall on debut day
Adroit Industries led the rally with listing gains of over 85%, while Swastika Infra hit the upper circuit; ArMee Infotech and Elevate Campuses, meanwhile, witnessed selling pressure following weak debut
Shares of Swastika Infra Ltd surged over 8 percent from their issue price of ₹185 during their debut trading session on Wednesday, ultimately reaching the upper circuit limit. The stock opened at ₹200, which was an 8.10 percent premium above the issue price on both the Bombay Stock Exchange (BSE) and National Stock Exchange (NSE).
On the BSE, the share price soared 13.48 percent to ₹209.95, while the NSE saw an even more impressive 13.51 percent increase, reaching the maximum allowable trading limit of ₹210. The company's market valuation stood at ₹716.35 crore. During the initial public offering (IPO), Swastika Infra's ₹161-crore offering received a strong 7.60 times subscription.
The public issue attracted bids for 4,81,51,260 shares, significantly higher than the 63,35,001 shares available for sale. The portion allocated for non-institutional investors saw an 18.50 times subscription rate, retail investors a more modest 5.39 times, while QIBs were subscribed to 3.22 times. The IPO consisted of a fresh issue of up to ₹128.50 crore and an Offer for Sale up to 17,50,000 equity shares, priced between ₹175-185 per share.
Written by urgent.news from Hindu BusinessLine's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
Also reported by 1 other outlet
- Swastika Infra shares climb over 8% in debut trade; hit upper circuit limit thehindubusinessline.com
