4 IPOs listings today: Adroit lists makes solid debut, Swastika Infra up; Elevate & ArMee disappoint

Four companies namely— Elevate Campuses, ArMee Infotech, Adroit Industries (India) and Swastika Infra — made their stock market debut on Wednesday, September 30 after cumulatively raising Rs 2,712 crore from investors between September 23-25. Here's how listing fared for them.

Elevate Campuses
Shares of Elevate Campuses made a muted stock market debut as the stock was listed with a discount of 1.91 per cent at Rs 355.10 on NSE and with a discount of 1.52 at Rs 356.50 on BSE against the issue price of Rs 362. Ahead of its listing, it was commanding a grey market premium (GMP) of Rs 6-7 apiece, suggesting a muted listing pop for the investors.

As of listing price, investors in Elevate Campuses made a loss of nearly Rs 290 on each lot allotted to them. Elevate Campuses raised Rs 2,100 crore from its IPO, which was offered in the price band of Rs 343-362 per share with a lot size of 41 equity shares. The issue was subscribed merely 1.8 times, fetching little over 86,000 applications during the three-day bidding process.

ArMee Infotech
Shares of ArMee Infotech made a flat debut on the stock exchanges, listing at a discount of 1.64 per cent at Rs 368.85 on BSE and at the issue price of Rs 375 on the NSE. Ahead of the listing, the stock was commanding a grey market premium (GMP) of around Rs 6-8 per share, indicating expectations of muted listing gains for the investors.

As of listing price, ArMee Infotech investors made a profit of nearly Rs 250 on each lot allotted. ArMee Infotech offered its shares was price in the range of Rs 350-375 per share with a lot size of 40 equity shares. Its issue was entirely a fresh share sale of Rs 300 crore. The IPO was subscribed only 2.44 times, attracting nearly 2.5 lakh applications and bids worth Rs 680 crore.

Adroit Industries (India)
Adroit Industries shares started their market journey on a solid note, listing at a premium of 86.57 per cent at Rs 250 on the BSE and at premium of 75.37 per cent at Rs 235 on the BSE against the IPO issue price of Rs 134. The stock had been trading at a grey market premium (GMP) of Rs 55-58 apiece ahead of its debut, pointing to a potential listing gain of 41-43 per cent.

As of listing price, investors of Adroit Industries (India) India made a profit of nearly Rs 12,800 on each lot allotted. Adroit Industries (India) raised Rs 151 crore through its IPO, which was launched in the price band of Rs 126-134 per share with a lot sizeo f 111 shares. The issue received an overall subscription of 176.85 times getting bids worth Rs 18,650 crore through nearly 31.48 lakh applications.

Swastika Infra
Swastika Infra shares witnessed a strong listing on Thursday, debuting at Rs 200 on the NSE and the BSE, representing premiums of 8.11 per cent, respectively, over the issue price of Rs 185. In the grey market, the stock was commanding a GMP of Rs 6-7 per share before listing, implying a premium of around 3-4 per cent over the IPO price.

As of listing price, investors of Swastika Infra made a profit of nearly Rs 1,215 on each lot allotted. Swastika Infra raised around Rs 161 crore through its IPO, sold in the price band of Rs 175-185 per share with a lot size of 81 equity shares. The IPO saw a subscription of 7.60 times, getting over 1.95 lakh applications and bids worth more than Rs 890 crore.