GMP and listing gain expectations update for four IPOs as bidding progresses

Adroit Industries, ArMee Infotech, Swastika Infra and Elevate Campuses are at different GMP-implied levels, with bidding moving into its later stages, according to NDTV’s IPO GMP updates. The reports present varying implied listing gains for each company based on current GMP estimates.

NDTV’s tracker and comparisons say Adroit Industries shows the strongest implied listing gain among the four, at 25.37%, followed by ArMee Infotech at 14.93%. The coverage also notes that Swastika Infra and Elevate Campuses are expected to deliver lower implied gains than Adroit Industries, though the specific figures for those two are referenced in the context of the comparison rather than highlighted with the same emphasis.

Across the articles, the main angle is a daily GMP comparison—alongside bidding status and, in one case, references to subscription progress and retail lot gains. While the outlets share the same focus on market expectations and implied gains, they present the companies in slightly different comparative formats and at slightly different points in the bidding timeline (including Day 3).