Four Indian companies, Elevate Campuses, ArMee Infotech, Adroit Industries (India), and Swastika Infra, made their stock market debuts on Wednesday, September 30, 2026. These initial public offerings (IPOs) collectively raised Rs 2,712 crore from investors between September 23-25, showcasing a mixed performance on their listing day.
Elevate Campuses Sees Muted Debut
Elevate Campuses shares opened with a discount, listing at Rs 355.10 on NSE and Rs 356.50 on BSE, against an issue price of Rs 362. This represented a discount of 1.91 per cent and 1.52 per cent respectively. Investors in Elevate Campuses faced a loss of approximately Rs 290 per allotted lot. The company had raised Rs 2,100 crore, with its IPO priced between Rs 343-362 per share. The issue was subscribed a modest 1.8 times, attracting over 86,000 applications.
ArMee Infotech's Flat Listing
ArMee Infotech experienced a largely flat debut. Its shares listed at a 1.64 per cent discount at Rs 368.85 on BSE, while listing at the issue price of Rs 375 on NSE. Despite this, investors in ArMee Infotech managed a small profit of around Rs 250 per allotted lot. The IPO, which was an entirely fresh share sale of Rs 300 crore, was priced in the range of Rs 350-375 per share. It saw a subscription of 2.44 times, drawing nearly 2.5 lakh applications.
Adroit Industries (India) Makes Solid Debut
In stark contrast, Adroit Industries (India) shares commenced their market journey on a strong note, listing at a substantial premium. The stock debuted at Rs 250 on BSE, an 86.57 per cent premium, and Rs 235 on NSE, a 75.37 per cent premium, against its IPO issue price of Rs 134. This solid performance translated into a significant profit of nearly Rs 12,800 for investors per allotted lot. Adroit Industries successfully raised Rs 151 crore, with its IPO priced between Rs 126-134 per share. The issue was overwhelmingly subscribed 176.85 times, receiving bids worth Rs 18,650 crore through nearly 31.48 lakh applications.
Swastika Infra Witnesses Strong Listing
Swastika Infra also enjoyed a strong listing, with its shares debuting at Rs 200 on both NSE and BSE. This represented an 8.11 per cent premium over the issue price of Rs 185. Investors in Swastika Infra saw a profit of approximately Rs 1,215 per allotted lot. The company raised around Rs 161 crore through its IPO, which was sold in the price band of Rs 175-185 per share. The IPO was subscribed 7.60 times, attracting over 1.95 lakh applications.