Ardee Industries IPO GMP jumps— Check allotment status on NSE, BSE; odds of getting shares

Ardee Industries is likely to finalize the basis of allotment of its shares on Monday, August 10. Applicant bidders will get the messages, alerts or emails for debit of their funds latest by Tuesday, August 11. The recovery and recycling solutions player saw a bumper response from the investors during the three day bidding period.

The IPO of Ardee Industries was open for bidding between August 05 and August 07. It had offered its shares in the price band of Rs 50-53 per share with a lot size of 281 shares. The company eyed to raise a total of Rs 426 crore via IPO, which included a fresh share sale of up to 6,03,77,358 shares worth Rs 320 crore and offer-for-sale (OFS) of up to 1,99,75,000 shares worth Rs 106 crore.

The issue was overall subscribed a whopping 133.66 times with nearly 41.2 lakh applications, fetching bids for over Rs 41,300 crore. The portion for qualified-institutional bidders (QIBs) was subscribed 197.77 times. The quotas for non-institutional investors (NIIs) and retail bidders were booked at 255.25 times and 45.71 times, respectively.

Based on the bidding, here are the odds of allotment for IPO of Ardee Industries:

• Big HNI category: 1 investor out of 58 investors will get 3,934 shares (Probability: 1.72 per cent)
• Small HNI category: 1 investor out of 211 investors will get 3,934 shares (Probability: 0.47 per cent)
• Retail category: 1 investor out of 37 investors will get 281 shares. (Probability: 2.70 per cent)

The grey market premium (GMP) of Ardee Industries has nearly doubled following a sharp bidding even as the sentiments in the broader markets remain volatile. Last heard, it was commanding a premium of Rs 14-15 per share, suggesting a listing pop of 26-28 per cent for the investors. Its GMP stood around Rs 7-8 apiece, during the bidding period.

Incorporated in 1993, New Delhi-based Ardee Industries is a prominent Indian company, with a core focus on the sustainable recovery and recycling of end-of-life energy storage products and non-ferrous scrap. Its product range includes high-purity lead and specialised lead alloys such as lead calcium, lead antimony, lead tin, lead silver, and lead cadmium alloys.

Pantomath Capital Advisors is the sole book running lead managers for Adree Industries IPO, while Kfin Technologies Ltd is the registrar of the issue. Refund of the bidding amount shall be done on Tuesday, August 11. Shares of the company shall be listed on both BSE Ltd and NSE with August 12, Wednesday, as the date of listing.

Investors, who had bid for the issue of Ardee Industries, can check the allotment status on the Bombay Stock Exchange (BSE) website:

• Visit https://www.bseindia.com/investors/appli_check.aspx
• Under the issue type, click Equity
• Under the issue name, select Ardee Industries Limited in the dropbox
• Write the application number
• Add the PAN card ID
• Click on 'I am not a Robot' and hit search button

Similarly, one can also check the allotment status on NSE website also (https://www.nseindia.com/invest/check-trades-bids-verify-ipo-bids)

• Select ‘Equity & SME IPO Bid details’.
• Under ‘Select Symbol’, choose ‘ARDEE’.
• Put in your PAN No. and Application No.
• Click on ‘Submit’ to proceed.
• Investors can also check the allotment status on the online portal of KFin Technologies Limited (https://kosmic.kfintech.com/ipostatus), the registrar to the issue.

The registrar is a Sebi-registered entity, qualified to act as such and which electronically processes all applications and carries out the allotment process, as per the prospectus. The registrar is responsible for complying with the timelines for updating the electronic credit of shares to successful applicants, dispatching and uploading refunds, and attending to all investor-related queries.

• Go to the web portal of KFin Technologies Limited
• Select the IPO in dropbox whose name will be populated only if the allotment is finalized
• You may be required to select either one of the three modes: Application number, Demat Account number, or PAN ID
• In application type, select between ASBA and non-ASBA
• Enter the details of the mode you selected in Step 2
• For security purposes, fill the captcha accurately
• Hit submit.