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IPO ·
BSE, NSE
Ardee Industries Ltd
Listed
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.
Issue details
Price band
₹50 – ₹53
Face value
₹2
Lot size
281 shares
Minimum investment
₹14,893
Issue size
₹425.87 Cr
Fresh issue
₹320.00 Cr
Offer for sale
₹105.87 Cr
Issue type
Book Built
Exchange
BSE, NSE
Key dates
Opens
5 Aug 2026
Closes
7 Aug 2026
UPI mandate cut-off
5:00 PM on 7 Aug 2026
Allotment
10 Aug 2026
Refunds
11 Aug 2026
Shares in demat
11 Aug 2026
Listing
12 Aug 2026
Subscription and listing
Subscription
96.60x
Listing price
₹72
Registrar
Kfin Technologies Ltd
Lead manager
Pantomath Capital Advisors
Subscription by category
Total
96.60x
Total applications
39,80,740
Anchor investors
Amount raised
₹127.76 Cr
Bid date
4 Aug 2026
50% lock-in ends
8 Sep 2026
Rest lock-in ends
7 Nov 2026
Listing day
Issue price
₹53
Open
₹72.00
High
₹73.19
Low
₹65.80
Day close
₹67.12
Listing gain at open
+35.85%
Issue structure
Shares reserved per category and share of the total issue
QIB
4,01,75,974
50.00%
Anchor Investor
2,41,05,584
30.00%
QIB (Ex. Anchor)
1,60,70,390
20.00%
NII
1,20,52,793
15.00%
bNII > ₹10L
80,35,195
10.00%
sNII < ₹10L
40,17,598
5.00%
Retail
2,81,23,183
35.00%
Total
8,03,51,950
100.00%
Finaccle’s quick read
Apply
FY26 income up 57%, PAT up 155%, ROE 81%, D/E 1.25, post-issue P/E 19.7x.
A rules-based screen of growth, margins, debt and valuation, built from the offer document and data on Chittorgarh.com. It is for information only and is not investment advice or a recommendation to buy or sell. Read the RHP and speak to a SEBI-registered adviser before you apply.
About the company
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.
Founded
Promoters
Promoter holding
Financial performance
Period
PAT
ROE
81%
ROCE
44.26%
Debt / equity
1.25
PAT margin
7.25%
P/E post issue
19.7
Market cap
₹1,670.57 Cr
Use of IPO money
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
Strengths
✓
Application of Hedging Mechanism for Commodity Price Risk Related Protection
✓
Strong customer base along with robust raw materials sourcing capabilities
✓
Revenue up 57% in FY26 to ₹1,168.88 Cr
✓
PAT up 155% in FY26 to ₹84.68 Cr
✓
ROE of 81% and ROCE of 44.26%
Risks to watch
!
Modest PAT margin of 7.25%
!
Debt to equity of 1.25
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Last updated:
Information is compiled from exchange notices and the company’s offer document. It is for general information only and is not investment advice or a recommendation to apply. Read the prospectus before investing.