return to news
  1. Upstox
    /
  2. News
    /
  3. Market News
    /
  4. IPO
    /
  5. Adroit Industries shares list 75% above IPO price on NSE; here's how Swastika Infra, Elevate Campuses, ArMee Infotech debuted

Market News

Adroit Industries shares list 75% above IPO price on NSE; here's how Swastika Infra, Elevate Campuses, ArMee Infotech debuted

Journalist Kamal Joshi, former Republic TV and latestly news editor, currently associated with Upstox as senior ipo writer.
By Kamal Joshi

3 min read | Updated on September 30, 2026, 09:59 IST

Google
SelectUpstoxas yourPreferred news source
Copy link
Twitter Page
Linkedin Page
Whatsapp Page

SUMMARY

Adroit Industries India shares were listed at ₹235, a premium of 75.37% over the IPO issue price of ₹134 per share. On the BSE, the stock debuted at ₹250 per share, up 86.57% from the issue price.

Adroit Industries India IPO was subscribed 176.85 times. | Image: Shutterstock

Adroit Industries India IPO was subscribed 176.85 times. | Image: Shutterstock

Shares of Adroit Industries (India), Swastika Infra, Elevate Campuses and ArMee Infotech were listed on the stock exchanges on Wednesday, September 30.

Open FREE Demat Account within minutes!
Join now
Here's how the stocks are performing.

Adroit Industries

Shares of Adroit Industries India were listed at ₹235, a premium of 75.37% over the IPO issue price of ₹134 per share.

On the BSE, the stock debuted at ₹250 per share, up 86.57% from the issue price.

The initial public offering was subscribed 176.85 times, as it got bids for 1,39,22,95,200 shares versus 78,72,900 shares on offer, as per the NSE data.

The non-institutional investors' portion attracted a massive 332.35 times subscription, while the qualified institutional buyers (QIBs) category was booked 195.04 times. The retail investors' part was subscribed 99.81 times.

The ₹150.71 crore IPO was a fresh issue of ₹132.62 crore and an offer for sale (OFS) component of ₹18.09 crore by promoter Mukesh Sangla HUF.

The fresh issue proceeds will be utilised to procure machinery, equipment and transport vehicles for the firm and its unit, Adroit Driveshafts. It will also be used to repay debt of subsidiary, Adroit Driveshafts, and general corporate purposes.

Swastika Infra

The stock of power engineering & infrastructure company Swastika Infra opened at ₹200 per share on the NSE and the BSE, reflecting a premium of 8.11% over the issue price of ₹185.

The IPO was subscribed 7.60 times, with bids for 4,81,51,260 shares against 63,35,001 shares on offer. The quota for NIIs mobilised 18.50 times subscription, while the retail investors portion got 5.39 times subscription. The QIBs category was booked 3.22 times.

The ₹160.88 crore issue was a fresh issue worth ₹128.50 crore and an OFS component of up to 17,50,000 shares totalling ₹32.38 crore by promoters and existing shareholders.

The money raised will be utilised for funding incremental working capital requirements and corporate general purposes.

Orient Cables IPO allotment: How to check status online on KFin Technologies, NSE, BSE; listing date, time here

Elevate Campuses

Shares of education infrastructure company Elevate Campuses Ltd listed at ₹355.10 on the NSE, a discount of 1.91% against the issue price of ₹362.

The stock made its debut at ₹356.50, down 1.52% from the issue price on the BSE.

The initial share sale received 1.79 times subscription. The quota for QIBs fetched 2.52 times the subscription, while the category for retail investors was subscribed 1.01 times. The portion for NIIs was booked 84%.

The ₹2,100 crore IPO was a fresh issuance of 5.80 crore shares. The funds will be used to acquire K-12 entities and campuses, repayment of debt and corporate general requirements.

ArMee Infotech

Shares of IT infrastructure and IT-managed services firm ArMee Infotech were listed at par with the issue price of ₹375 on the NSE.

On the BSE, the shares of the company debuted at ₹368.85 per share, a 1.64% discount.

The issue was subscribed 2.44 times.

The ₹300 crore IPO was only a fresh issuance of 80 lakh shares. The money raised will be used for expansion of business by procuring new government and PSU projects, working capital needs, debt clearance and general corporate purposes.

Disclaimer: This article is written purely for informational purposes and should not be considered investment advice from Upstox. Securities mentioned are illustrative and not recommendations. Please consult a financial advisor before making any investment decisions.

About The Author

Journalist Kamal Joshi, former Republic TV and latestly news editor, currently associated with Upstox as senior ipo writer.
Kamal Joshi is a business journalist who covers markets and IPOs. He places a special focus on in-depth analysis of DRHPs, RHPs and public-issue documents to produce data-driven stories. He covers trends across mainboard and SME IPOs, anchor allocations, subscription status and post-listing performance. He is passionate about breaking news and enjoys playing pickleball, especially flexing his net play. He was previously associated with Republic TV and LatestLY.

Next Story