Ardee Industries IPO
Bookbuilding IPO | ₹426.00 Cr | Listing at BSE, NSE
IPO Open
Wed, Aug 05, 2026
IPO Close
Fri, Aug 07, 2026
Price Band
₹50.00 to ₹53.00
Market Cap (Pre-IPO)
₹1,670.57 Cr
IPO Details
| IPO Date | Aug 05, 2026 to Aug 07, 2026 |
| Listing Date | Tentative: Aug 12, 2026 |
| Face Value | ₹2.00 per share |
| Price Band | ₹50.00 to ₹53.00 |
| Lot Size | 281 Shares (Minimum: ₹14,893.00) |
| Sale Type | Offer For Sale + Fresh Issue |
| Issue Type | Bookbuilding IPO |
| Listing At | BSE, NSE |
| Issue Size | ₹426.00 Crores |
| Total Shares Offered | 80,352,358 shares |
| Fresh Issue | 60,377,358 shares |
| Offer For Sale | 19,975,000 shares |
Subscription Data
| Category | Times Subscribed |
|---|---|
| QIB | 1.13x |
| NII | 5.60x |
| RII | 3.48x |
| Total | 3.26x |
Ardee Industries IPO Reservation
| Investor Category | Shares Offered |
|---|---|
| QIB Shares Offered | 50.00 |
| Retail Shares Offered | 35.00 |
| NII Shares Offered | 15.00 |
Ardee Industries IPO Lot Size
Investors can bid for a minimum of 281 shares and in multiples thereof.
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (Min) | 1 | 281 | ₹14,893 |
| Retail (Max) | 13 | 3,653 | ₹193,609 |
| S-HNI (Min) | 14 | 3,934 | ₹208,502 |
| S-HNI (Max) | 67 | 18,827 | ₹997,831 |
| B-HNI (Min) | 68 | 19,108 | ₹1,012,724 |
Ardee Industries Financial Information (Restated Consolidated)
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.
| 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 ₹ Cr
Key Performance Indicators
As of Monday, March 31, 2025| KPI | Values |
|---|---|
| ROE (Return on Equity) | 72.00% |
| ROCE (Return on Capital Employed) | 25.17% |
| Debt/Equity | 2.65 |
| RoNW (Return on Net Worth) | 53.15% |
| PAT Margin (Profit After Tax Margin) | 4.48% |
| EBITDA Margin | 8.88% |
| Price to Book Value | 21.54 |
| Pre IPO | Post IPO | |
|---|---|---|
| EPS Rs | 3.32 | 2.69 |
| P/E (x) | 15.96 | 19.70 |
Company Overview
Ardee Industries Ltd. – Company Overview
- Ardee Industries Ltd. is engaged in the recovery, recycling, and manufacturing of lead and lead alloys from end-of-life energy storage products and non-ferrous scrap.
- The company's product portfolio includes high-purity lead and specialised lead calcium, lead antimony, lead tin, lead silver, and lead cadmium alloys, catering to the energy storage, e-mobility, automotive, and chemical industries.
- The company has a manufacturing facility in Tirupati, Andhra Pradesh, spread across 7.61 acres with an installed capacity of 104,025 MTPA.
- The facility is equipped with advanced lead recycling infrastructure and is certified under ISO 9001:2015, ISO 14001:2015, and ISO 45001:2018.
- As of March 31, 2025, the company had served over 50 customers across domestic and international markets and exported its products to seven countries, including Singapore, Hong Kong, South Korea, Switzerland, the UAE, Japan, and the USA.
Company 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.
Use of Proceeds
| 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 | |
| Total | 240.00 |
Objectives
The Company proposes to utilise the Net Proceeds from the Issue towards the following objects:
Ardee Industries IPO Peer Comparison
Ardee Industries peer comparison with similar listed entities. (As on March 31, 2025)| Company Name | EPS (Basic) | EPS (Diluted) | NAV (per share) (Rs) | P/E (x) | RoNW (%) | P/BV Ratio | Financial statements |
|---|---|---|---|---|---|---|---|
| Ardee Industries | 3.32 | 3.32 | 5.78 | - | 57.46 | - | - |
| Gravita India | 52.02 | 52.02 | 332.16 | 35.37 | 15.43 | 5.54 | - |
| Pondy Oxides and Chemicals | 43.98 | 43.98 | 258.39 | 31.94 | 16.73 | 5.44 | - |
| Jain Resources Recycling | 10.25 | 10.25 | 45.24 | 33.57 | 22.25 | 7.64 | - |
Quick Info
| Sector | metals, manufacturing, and circular economy |
| Exchange | BSE, NSE |
| Market Cap (Pre-IPO) | ₹1,670.57 Cr |
Important Dates
| IPO Open | Aug 05, 2026 |
| IPO Close | Aug 07, 2026 |
| Allotment Date | Aug 10, 2026 |
| Credit to Demat | Aug 11, 2026 |
| Listing Date | Tentative: Aug 12, 2026 |
Lead Manager(s)
Pantomath Capital Advisors Pvt.Ltd.
Registrar
Description
- IPO Type: Book build issue aggregating to ₹425.87 crores.
- Issue Structure: A combination of fresh issue of 6.04 crore shares aggregating to ₹320.00 crores and offer for sale of 2.00 crore shares aggregating to ₹105.87 crores.
- IPO Dates: The issue opened on August 5, 2026 and will close on August 7, 2026.
- Allotment Date: The allotment is expected to be finalized on August 10, 2026.
- Listing Details: The shares are proposed to be listed on both National Stock Exchange of India and BSE Limited on August 12, 2026.
- Retail Investment Requirement: Minimum 1 lot (281 shares) amounting to approximately ₹14,893 (at the upper price band).
- Issue Price Band: ₹50 to ₹53 per equity share.
- Lot Size: 281 shares per lot.
This IPO offers investors an opportunity to participate in the industrial manufacturing sector through a combination of a fresh issue of shares and an offer for sale by existing shareholders.