3 weeks ago

Ardee Industries shares slip after strong listing; investors advised caution

Ardee Industries shares slip after strong listing; investors advised caution
Ardee Industries shares slip after strong listing; what investors should do · businesstoday.in

Ardee Industries is a company that takes old batteries and metal scraps and turns them into useful materials again.

That kind of work is called recycling, and it helps keep trash out of the planet.

The company wanted to grow bigger, so it sold pieces of itself called shares to the public.

Selling shares for the first time is called an initial public offering, or IPO.

Lots of people wanted those shares, and the company got a huge amount of money.

When the shares started being traded on the stock market, their price jumped up right away.

But soon after, the price slipped down a little.

Money experts say people should be careful and not rush to buy more shares at high prices.

They suggest that people who already own shares have a plan to protect their money if the price drops.

Key facts

Company
Ardee Industries
Headquarters
New Delhi, India
Business
Recycling of used lead-acid batteries and non-ferrous scrap in the circular economy
IPO subscription period
August 5-7
Overall subscription
133.66 times
Total bids received
Over Rs 41,300 crore from ~41.2 lakh applications
Return on net worth
57.46%
Advised stop-loss for allottees
Rs 65 on a closing basis

Quotes

Mahesh M. Ojha

Vice‑President Research & Business Development at Kantilal Chagganlal Securities

“"Ardee Industries made a strong stock market debut. The post‑listing outlook remains positive, supported by attractive valuations, strong RoNW of 57.46 per cent, healthy profitability and its presence in the growing circular economy and recycling space."”
businesstoday.in
“"We believe the company offers a reasonable valuation, established market positioning and scope for balance‑sheet improvement."”
businesstoday.in

Sources

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