IPO details · Updated
Ardee Industries Limited
- Price Band
- ₹50 – ₹53
- Lot Size
- 281 shares
- Min. Investment
- ₹14,893
- Issue Size
- ₹425.87 Cr
- Offer Dates
- 5 Aug – 7 Aug 2026
- Listing
- 12 Aug 2026
Issue Details
- Total Issue Size
- ₹425.87 Cr
- 8,03,51,950 shares
- Fresh Issue
- ₹320 Cr
- 6,03,76,950 shares
- Offer for Sale
- ₹105.87 Cr
- 1,99,75,000 shares
- Face Value
- ₹2 per share
- Issue Type
- Book-built IPO
- Listing At
- BSE, NSE
- Shares Pre-Issue
- 25,48,24,000
- Shares Post-Issue
- 31,52,00,950
IPO Timeline
Offer opens
5 Aug 2026
Offer closes
7 Aug 2026
Allotment
10 Aug 2026
Listing
12 Aug 2026
Issue Allocation
Share of the offer reserved for each investor category
- Anchor30.0%2,41,05,584 shares
- QIB20.0%1,60,70,390 shares
- HNI15.0%1,20,52,793 shares
- Retail35.0%2,81,23,183 shares
Subscription Status
Times subscribed by investor category
| Category | Offered | Bids | Subscribed |
|---|---|---|---|
| QIB | 1,60,70,390 | 3,25,04,36,028 | 202.26x |
| NII | 1,20,52,793 | 3,21,50,58,971 | 266.75x |
| Retail | 2,81,23,183 | 1,34,33,24,434 | 47.77x |
| Total | 5,62,46,366 | 7,80,88,19,433 | 138.83x |
Lot Size & Investment
1 lot = 281 shares
Retail (min)
1 lot · 281 shares
Retail (max)
13 lots · 3,653 shares
S-HNI (min)
14 lots · 3,934 shares
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail | 1 | 281 | ₹14,893 |
| Small HNI (S-HNI) | 14 | 3,934 | ₹2,08,502 |
| Big HNI (B-HNI) | 68 | 19,108 | ₹10,12,724 |
Financial Performance
Restated figures in ₹ crore, unless stated otherwise
| Period | Mar-26 | Mar-25 | Mar-24 |
|---|---|---|---|
| Assets | 363.33 | 262.06 | 196.12 |
| Total Income | 1,168.88 | 743.53 | 463.39 |
| Profit After Tax | 84.68 | 33.27 | 8.95 |
| EBITDA | 147.08 | 65.93 | 28.06 |
| Net Worth | 147.38 | 62.6 | 29.25 |
| Reserves & Surplus | 96.42 | 59.42 | 26.06 |
| Total Borrowing | 182.75 | 165.77 | 142.36 |
Key Performance Indicators
| Period | Mar-26 | Mar-25 |
|---|---|---|
| RoNW (%) | 57.46 | 53.15 |
| EPS (₹) | — | 3.32 |
| P/E (pre-issue) | — | 15.96 |
| P/E (post-issue) | — | 19.7 |
Peer Comparison
Listed companies in the same business
| Company | P/E | ROE |
|---|---|---|
| Gravita India | 35.37 | 15.43% |
| Pondy Oxides and Chemicals | 31.94 | 16.73% |
| Jain Resources Recycling | 33.57 | 22.25% |
About Ardee Industries Limited
Incorporated in 1993, Ardee Industries Limited is a prominent Indian company, with a core focus on the sustainable recovery and recycling of end-of-life energy storage products and non-ferrous scrap. Its product range includes high-purity lead and specialised lead alloys such as lead calcium, lead antimony, lead tin, lead silver, and lead cadmium alloys. These products are widely used across key sectors, including energy storage, e-mobility, automotive, and chemicals. As of March 31, 2025, Ardee Industries has served over 50 customers across domestic and international markets, spanning the battery and metals industries. The Company has exported its products to seven countries, including Singapore, Hong Kong, South Korea, Switzerland, the United Arab Emirates, Japan, and the United States of America. The Company owns and operates a manufacturing facility spread across approximately 7.61 acres in Tirupati district, Andhra Pradesh, with an installed capacity of 104,025 MTPA. The facility is equipped with advanced lead recycling infrastructure, including rotary furnaces, refining kettles, casting systems, and comprehensive pollution control mechanisms. It is certified under ISO 9001:2015 for quality management, ISO 14001:2015 for environmental management, and ISO 45001:2018 for occupational health and safety. Competitive strengths: One of India’s leading players in circular economy with a proven track record with demonstrated operational stability. Application of Hedging Mechanism for Commodity Price Risk Related Protection. Strong customer base along with robust raw materials sourcing capabilities. Track record of profitability and consistent financial performance. Experienced promoters and professional management team.
Objects of the Issue
- Funding incremental working capital requirement of Company (₹220.00 Cr)
- Repayment and/or pre-payment, in full or in part, of certain borrowings availed by Company (₹20.00 Cr)
- General Corporate Purposes (₹46.27 Cr)
- Issue Expenses (₹44.87 Cr)
Promoters
- <p>Sandeep Aggarwal
- Nikunj Aggarwal
- Esha Gupta</p>
Company Information
- Book running lead managers
- Pantomath Capital Advisors Pvt.Ltd.
- Registered office
- Khasra No. 340, 1st Floor and 3rd Floor,, Village Sultanpur,, Mehrauli, Gadaipur,, Delhi, New Delhi, 110030
Official Documents
Opens the source filing in a new tab
Similar IPOs
Disclaimer: Data on OpenIPO is for information only and is not investment advice. OpenIPO is not a SEBI-registered entity. GMP figures are unofficial estimates and may change. Verify all details against the company RHP and the official registrar before investing.