The ₹426-crore initial public offering from Ardee Industries reached a 10% subscription rate shortly after it launched on the first day. Investors in the retail category have booked 16% of their quota, and the non-institutional investor (NII) portion has been subscribed 13%. Shares are being offered in the price band of ₹50-53, with current grey market trends suggesting the stock could see a listing gain of around 15%.

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