Ardee Industries IPO
Updated 11 Sept 2026, 5:03 pm.
Minimum investment (Retail)
₹14,893
1 lot · 281 shares at the upper price band
Price band
₹53
Latest GMP
Not yet quoted
Est. listing price
—
Issue size
₹425.87 Cr
GMP history
Each point is a recorded observation from the scheduled data sync.
GMP is an unofficial, unregulated grey-market estimate — not a prediction of listing performance.
Issue details
- Board
- Mainboard
- Price band
- ₹53
- Issue size
- ₹425.87 Cr
- Lot size
- 281
- Opens
- 5 Aug 2026
- Closes
- 7 Aug 2026
- Allotment
- 10 Aug 2026
- Listing
- 12 Aug 2026
- Est. listing price
- —
- Listing price
- Awaited
- Listing gain
- Awaited
- Registrar
- Kfin Technologies Ltd.
- Minimum investment
- ₹14,893 (1 lot · 281 shares)
- Face value
- ₹2 per share
- Issue type
- Bookbuilding IPO
- Sale type
- Fresh capital cum OFS
- Fresh issue
- ₹320 Cr
- Offer for sale
- ₹106 Cr
- Listing at
- BSE, NSE
- Refunds
- 11 Aug 2026
- Shares credited
- 11 Aug 2026
- Promoter holding
- 91.48% before · 67.62% after
- Lead managers
- Pantomath Capital Advisors Pvt.Ltd.
Offer documents & links
Full issue details
Details as published for this issue, read 11 Sept 2026, 5:01 am. Verify against the RHP before applying.
IPO Details
| IPO Date | 5 to 7 Aug, 2026 |
|---|---|
| Listed on | Wed, Aug 12, 2026 |
| Face Value | ₹ 2 per share |
| Price Band | ₹50 to ₹53 |
| Issue Price | ₹53 per share |
| Lot Size | 281 Shares |
| Sale Type | Fresh capital cum OFS |
| Issue Type | Bookbuilding IPO |
| Listing At | BSE, NSE |
| Total Issue Size | 8,03,51,950 shares (agg. up to ₹ 426 Cr) |
|---|---|
| Fresh Issue | 6,03,76,950 shares (agg. up to ₹ 320 Cr) |
| Offer for Sale | 1,99,75,000 shares of ₹ 2 (agg. up to ₹ 106 Cr) |
| Share Holding Pre Issue | 25,48,24,000 shares |
| Share Holding Post Issue | 31,52,00,950 shares |
| BSE Script Code / NSE Symbol | 544860 / ARDEE |
| ISIN | INE0XNF01022 |
IPO Timetable
- IPO Open
- Wed, Aug 5, 2026
- IPO Close
- Fri, Aug 7, 2026
- Allotment
- Mon, Aug 10, 2026
- Refund
- Tue, Aug 11, 2026
- Credit of Shares
- Tue, Aug 11, 2026
- Listing
- Wed, Aug 12, 2026
Issue Reservation
| Investor Category | Shares | % of Total Issue | Max Allottees |
|---|---|---|---|
| QIB | 4,01,75,974 | 50.00% | NA |
| − Anchor Investor | 2,41,05,584 | 30.00% | NA |
| − QIB (Ex. Anchor) | 1,60,70,390 | 20.00% | NA |
| NII (HNI) | 1,20,52,793 | 15.00% | NA |
| − bNII > ₹10L | 80,35,195 | 10.00% | 2,042 |
| − sNII < ₹10L | 40,17,598 | 5.00% | 1,021 |
| Retail | 2,81,23,183 | 35.00% | 1,00,082 |
| Total | 8,03,51,950 | 100.00% | — |
Ardee Industries IPO comprises a total issue size of 8,03,51,950 shares. Out of which, 4,01,75,974 (50.00%) are allocated to QIB , 1,20,52,793 (15.00%) allocated to NII 2,81,23,183 (35.00%) allocated to RII .
IPO Lot Size
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (Min) | 1 | 281 | ₹14,893 |
| Retail (Max) | 13 | 3653 | ₹1,93,609 |
| S-HNI (Min) | 14 | 3934 | ₹2,08,502 |
| S-HNI (Max) | 67 | 18827 | ₹9,97,831 |
| B-HNI (Min) | 68 | 19108 | ₹10,12,724 |
Investors can bid for a minimum of 281 shares and in multiples thereof.
IPO Subscription Details
IPO Anchor Investors
| Bid Date | Tue, Aug 4, 2026 |
|---|---|
| Shares Offered | 2,41,05,584 |
| Anchor Portion (₹ Cr.) | 127.76 |
| Anchor lock-in period end date for 50% shares (30 Days) | Tue, Sep 8, 2026 |
| Anchor lock-in period end date for remaining shares (90 Days) | Sat, Nov 7, 2026 |
Ardee Industries IPO raises ₹ 127.76 crore from anchor investors . Ardee Industries IPO Anchor bid date is August 4, 2026 .
IPO Anchor Investors List
About Ardee Industries Ltd.
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.
Company Financials (Restated)
| Period Ended | 31 Mar 2026 | 31 Mar 2025 | 31 Mar 2024 |
|---|---|---|---|
| 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 | 62.60 | 29.25 |
| Reserves and Surplus | 96.42 | 59.42 | 26.06 |
| Total Borrowing | 182.75 | 165.77 | 142.36 |
| Amount in ₹ Crore |
Ardee Industries Ltd.'s revenue increased by 57% and profit after tax (PAT) rose by 155% between the financial year ending with March 31, 2026 and March 31, 2025.
Recently Listed IPOs in Diversified Metals
| Company | Issue Type | Issue Size | Issue Price | PE Ratio | Listing Day Close | Listing Gain/Loss % | LTP |
|---|---|---|---|---|---|---|---|
| Jain Resource Recycling Ltd. | Mainboard | ₹1,250.00 Cr | ₹232 | 33.62 | ₹318.06 | +37.09% | ₹296.55 |
IPO Objects of the Issue
| # | Issue Objects | Est Amt (₹ Cr.) |
|---|---|---|
| 1 | Funding incremental working capital requirement of Company | 220.00 |
| 2 | Repayment and/or pre-payment, in full or in part, of certain borrowings availed by Company | 20.00 |
| 3 | General Corporate Purposes | 46.27 |
| 4 | Issue Expenses | 44.87 |
| Total | 331.15 |
The Company proposes to utilise the Net Proceeds from the Issue towards the following objects:
Key Performance Indicator (KPI)
| KPI | Mar 31, 2026 | Mar 31, 2025 |
|---|---|---|
| ROE | 81% | 72% |
| ROCE | 44.26% | 25.17% |
| Debt/Equity | 1.25 | 2.65 |
| RoNW | 57.46% | 53.15% |
| PAT Margin | 7.25% | 4.48% |
| EBITDA Margin | 12.60% | 8.88% |
| NAV | 5.78 | 2.46 |
| Price to Book Value | — | 21.54 |
Check IPO Peer Comparison here.
IPO Valuation
| Valuation Metric | Pre IPO | Post IPO |
|---|---|---|
| EPS (₹) | 3.32 | 2.69 |
| P/E (x) | 15.96 | 19.7 |
| Market Cap at Offer Price | ₹1,351Cr. | ₹2,115.63 Cr |
Disclaimer
The value will be calculated using Equity Dilution = Share Holding Pre Issue - Share Holding Post Issue
The Pre IPO EPS is calculated based on Pre issue shareholding as on date of RHP and the latest FY earnings as of March 31, 2026 available in RHP.
The Post Issue EPS is calculated based on the Post issue shareholding and annualized FY earnings of March 31, 2026 available in RHP.
Shareholding Structure
| Category | Pre IPO | Post IPO |
|---|---|---|
| Promoter and Promoter Group | 91.48% | 67.62% |
| Public | 8.52% | 32.38% |
| Total | 100% | 100% |
Company Promoters: Sandeep Aggarwal, Nikunj Aggarwal and Esha Gupta.
Offer For Sale - Selling Shareholders
| Name | Category | No. of Shares Offered | Amount (₹ cr.) |
|---|---|---|---|
| Sandeep Aggarwal | Promoter | 99,87,500 | 52.93 |
| Nikunj Aggarwal | Promoter | 99,87,500 | 52.93 |
| Total | — | 1,99,75,000 | 105.87 |
Ardee Industries IPO Recommendations
| Review By | Subscribe | May Apply | Neutral | Avoid |
|---|---|---|---|---|
| Brokers | 8 | 1 | 0 | 0 |
| Members | 1 | 0 | 0 | 0 |
Ardee Industries IPO Subscription Status (Bidding Detail)
| Category | Subscription (times) | Shares Offered | Shares bid for |
|---|---|---|---|
| 🔒 Preview Limited Full data is available exclusively on IPOMatrix.com — your premium IPO research platform. 🔑 Login to View All Records → | |||
| Total | 96.60 | 8,03,51,950 | 7,76,17,14,279 |
The Ardee Industries IPO subscription status. Full data available on IPOMatrix.com .
Reload Subscription
IPO Expenses
| # | Issue Expenses | Est Amt (₹ Cr.) |
|---|---|---|
| 1 | Fixed fees payable to Book Running Lead Manager | 4.50 |
| 2 | Underwriting /Selling Commission to the Book Running Lead Manager | 20.23 |
| 3 | Commission/processing fee for SCSBs, Sponsor Bank(s) and fees payable to sponsor bank(s) for bids made by RIBs, Bankers to the Offer(s), Brokerage and Syndicate Fees, bidding charges for Members of the Syndicate, Registered Brokers, RTAs and CDPs | 8.56 |
| 4 | Listing fees, SEBI filing fees, upload fees, BSE and NSE processing fees, book building software fees and other regulatory expenses | 5.41 |
| 5 | Printing and distribution of stationery | 0.28 |
| 6 | Advertising and marketing expenses | 2.15 |
| 7 | Fees payable to legal counsels | 1.86 |
| 8 | Fees payable to other advisors to the Offer, including but not limited to Statutory Auditors, industry service provider and Chartered Engineer | 1.26 |
| 9 | Miscellaneous expenses | 0.62 |
| Total | 44.87 |
Listing Day Trading Information
| Price Details | BSE | NSE |
|---|---|---|
| Final Issue Price | ₹ 53.00 | ₹ 53.00 |
| Open | ₹ 73.60 | ₹ 72.00 |
| Low | ₹ 65.77 | ₹ 65.80 |
| High | ₹ 73.60 | ₹ 73.19 |
| Last Trade | ₹ 67.13 | ₹ 67.12 |
Check IPO Performance…
IPO Registrar
Kfin Technologies Ltd.
040-79615565
ardeeindustries.ipo@kfintech.com
IPO Lead Manager(s)
Pantomath Capital Advisors Pvt.Ltd.
Contact Details
Ardee Industries Ltd. Address
Khasra No. 340, 1st Floor and 3rd Floor,
Village Sultanpur,
Mehrauli, Gadaipur,
Delhi, New Delhi , 110030
+91 11 4760 021
cs@ardeeindustries.com
Ardee Industries IPO in the news
Recent coverage in the financial press. Headlines are the publishers' own; verify details with the RHP.
Ardee Industries Reports Q1 Net Profit Of ₹19.9 Crore and Revenue Of ₹340 Crore
Sahi · 25 Aug 2026
Ardee Industries IPO listing date today. Here’s what GMP signals on share debut
Livemint · 12 Aug 2026
Ardee Industries shares make a strong D-St debut, list at 39% premium over IPO price
The Economic Times · 12 Aug 2026
Strong debut: Ardee Industries shares list at 39% premium over IPO price; should you buy, sell or hold?
Moneycontrol.com · 12 Aug 2026
Ardee Industries IPO: Lead Recycling Company’s Shares Make Strong Debut With 38% Gains
Outlook Money · 12 Aug 2026
Ardee Industries Ltd. IPO Review - Ardee Industries Ltd. IPO Dates, Issue Price, Subscription and Allotment Status
The Economic Times · 12 Aug 2026
