Ardee Industries' initial public offering closed on August 7, concluding a three-day subscription window that opened on August 5.
The packaging manufacturer's shares are set to list on the Bombay Stock Exchange and the National Stock Exchange of India following the close of the book-building process.
Unofficial grey market trading indicated a premium of ₹15 per share on the final day of the issue, according to Investorgain.
This premium suggests a potential listing price of ₹68, representing a significant upside from the issue's upper price band of ₹53 per equity share.
The grey market premium remained stable throughout the subscription period, signaling steady but not euphoric demand from retail and institutional investors.
The IPO was priced within a band of ₹50 to ₹53 per share.