{
  "id": 261860,
  "title": "Ardee Industries IPO Day 3: Subscription hits 133x led by NIIs demand",
  "url": "https://urgent.news/2026/08/07/ardee-industries-ipo-day-3-subscription-hits-133x-led-by-niis-demand",
  "topic": "culture",
  "section": "Culture",
  "published": "2026-08-07T11:09:59.000Z",
  "source": {
    "name": "Hindu BusinessLine",
    "slug": "hindu-businessline",
    "url": "https://www.thehindubusinessline.com/markets/ardee-industries-ipo-subscribed-9807-times-so-far-on-final-day-as-nii-demand-tops/article71317089.ece"
  },
  "original_language": "en",
  "account": "Ardee Industries initiated its ₹426-crore IPO with an impressive response, seeing a subscription of 133.26 times overall as of 4:36 pm. Qualified institutional buyers (QIB) contributed 197.77 times, while non-institutional investors (NII) led with a staggering 254.99 times. Retail investors contributed 45.01 times to the subscription. The IPO price band was set between ₹50-53 per share. The fresh issue of up to ₹320 crore, alongside an offer-for-sale of up to 1.99 crore equity shares by promoters Sandeep Aggarwal and Nikunj Aggarwal, totaled the funding. Of the fresh issue proceeds, ₹220 crore will be used to bolster the company's working capital, ₹22 crore will go towards debt repayment, and the rest will be allocated for general corporate purposes. Earlier, Ardee Industries completed a pre-IPO secondary transaction worth ₹115 crore at ₹53 per equity share. Promoters Sandeep and Nikunj Aggarwal played a significant role, selling up to 1.99 crore shares. Leading the IPO, Pantomath Capital Advisors Private Limited, had seven anchor investors, including Bank of India Small Cap Fund, Bengal Finance & Investment Pvt Ltd, Winro Commercial (India) Limited, among others.",
  "summary": "Ardee Industries' IPO has seen an overwhelming response with a subscription of 133.26 times, driven by strong demand from non-institutional investors (NII) at 254.99 times. The qualified institutional buyers (QIB) portion was subscribed to 197.77 times, and the retail investor portion was subscribed to 45.01 times. The company's ₹426-crore IPO, priced between ₹50-53 per share, included a fresh issue of up to ₹320 crore and an offer-for-sale of up to 1.99 crore shares by promoters Sandeep and Nikunj Aggarwal. The proceeds will be used for various purposes, including working capital requirements, debt repayment, and general corporate purposes.",
  "key_points": [],
  "editors_take": null,
  "illustration": null,
  "coverage": {
    "outlets": 1,
    "also_reported_by": []
  },
  "ai_generated": true,
  "disclaimer": "Summaries, key points and the editor’s take are written by software from other outlets’ reporting and may contain errors — always check the linked original."
}