Ardee Industries’ initial public offering (IPO) receives continued strong demand on its final day, with the issue reported as subscribed 98 times, according to Business Line. Economic Times similarly reports heavy participation during the last session, noting that the issue is booked nearly 134 times overall, driven by strong interest from institutional investors (QIB) and non-institutional investors (NII). Both outlets indicate that investor appetite remains robust through the subscription period.
Economic Times adds that the NII portion is booked more than 233 times and discusses grey market premium expectations, suggesting a possible listing gain of around 27%, though such figures are market estimates rather than official. The company’s IPO proceeds are described across the reports as being allocated toward working capital and debt reduction, alongside expansion plans.
Ardee Industries operates in the lead recycling and non-ferrous metals sector, which frames investor interest and the company’s stated use of funds. The reports collectively emphasize the level of oversubscription and the intended financial deployment of raised proceeds.
