Ardee Industries Limited
Bookbuilding IPO · NSE, BSE
- Price band
- ₹50 - ₹53
- Lot size
- 281 shares
- Issue amount
- ₹425.87 cr
- Total subscription
- 138.83×
- Opens
- 5 Aug 2026
- Closes
- 7 Aug 2026
- Allotment
- 10 Aug 2026
- Listing
- 12 Aug 2026
Offer at a glance
Issue overview
- Issue size
- 8,03,51,950 shares
- Face value
- ₹2 per share
- Minimum investment
- ₹14,050
- Fresh issue
- ₹320 cr
- Offer for sale
- ₹105.87 cr
- Registrar
- Kfin Technologies Limited
- Listing exchange
- NSE, BSE
- Maximum investment
- ₹14,893
- Issue type
- Bookbuilding IPO
- Shares before issue
- 25,48,24,000
- Shares after issue
- 31,52,00,950
Lot sizes
| Category | Lots | Shares | Amount |
|---|---|---|---|
| RETAIL | 1 | 281 | ₹14,893 |
| sHNI | 14 | 3,934 | ₹2,08,502 |
| bHNI | 68 | 19,108 | ₹10,12,724 |
Share reservation
Subscription & GMP
Subscription by category
Reported 7 Aug 2026
GMP history
Day-wise demand
Application-wise demand
| Category | Reserved applications | Applied applications |
|---|---|---|
| RETAIL | 1,00,083 | 37,95,320 |
| HNIs(10L +) | 2,043 | 1,19,295 |
| HNIs (2-10L) | 1,021 | 2,15,955 |
Subscription demand
Amounts in ₹ crore. HNI subcategories are included in the NII total.
| Category | Offered | Demand |
|---|---|---|
| QIBs | 85.17 | 17,227.31 |
| FIIs | 0 | 2,321.26 |
| FIs | 0 | 8,788.01 |
| Mutual Funds | 0 | 121.04 |
| Others | 0 | 5,997 |
| RETAIL | 149.05 | 7,119.62 |
| HNIs 2+ | 21.29 | 4,695.46 |
| HNIs 10+ | 42.59 | 12,344.35 |
Financial performance
Company financials
In Crores · Reported periods may include interim results.
Key performance indicators
| Metric | 0 | Mar-25 | Mar-24 |
|---|---|---|---|
| EPS | 3.32 | 1.31 | 0.35 |
| ROE | 0 | 0 | 0 |
| ROCE | 0 | 0 | 0 |
| RONW | 57.46 | 53.15 | 30.61 |
| PRE IPO(PE) | 15.96 | 0 | 0 |
| POST IPO(PE) | 19.7 | 0 | 0 |
Values and labels as reported in the issue data.
Peer comparison
| Company | P/E(X) | CMP* (₹) | Face value (₹) | NAV/Share (₹) | RONW(%) | EPS (Basic) (₹) |
|---|---|---|---|---|---|---|
| Gravita India Limited | 35.37 | 1,840.15 | 2 | 332.16 | 15.43 | 52.02 |
| Pondy Oxides and Chemicals Limited | 31.94 | 1,404.80 | 5 | 258.39 | 16.73 | 43.98 |
| Jain Resources Recycling Limited | 33.57 | 344.05 | 2 | 45.24 | 22.25 | 10.25 |
| Ardee Industries Limited | 15.96 | 53.00 | 2 | 5.78 | 57.46 | 3.32 |
Company information
Company profile
Ardee Industries Limited is an Indian company focused on sustainable recycling and recovery of end-of-life energy storage products and non-ferrous scrap, primarily producing high-purity lead and specialised lead alloys such as lead calcium, lead antimony, lead tin, lead silver, and lead cadmium, which are widely used in sectors like energy storage, e-mobility, automotive, and chemicals. The company serves over 50 customers across domestic and international markets and exports to countries including Singapore, Hong Kong, South Korea, Switzerland, the UAE, Japan, and the USA. It operates a manufacturing facility in Tirupati district, Andhra Pradesh, spread over about 7.61 acres with a strong production capacity and advanced recycling infrastructure, supporting efficient and environmentally responsible operations.
Strengths
- Leading Player in Lead Recycling: The company is one of India's leading secondary lead recyclers, supporting sustainable resource utilization through its recycling operations.
- Effective Commodity Price Risk Management: The company uses hedging strategies to reduce the impact of fluctuations in commodity prices and support stable financial performance.
- Strong Customer Base & Raw Material Sourcing: Long-term customer relationships and a reliable raw material procurement network help ensure smooth production and timely product deliveries.
Risk factors
- High Customer Concentration: A significant portion of the company's revenue comes from a few major customers. Losing any key customer could affect business performance and cash flow.
- Dependence on Battery & Metal Industries: Most of the company's revenue comes from the battery and metal sectors. Any slowdown in these industries could impact demand and profitability.
- Strict Quality Compliance Risk: The company must meet strict quality standards. Failure to maintain product quality could lead to order cancellations, reputational damage, and financial losses.
Promoters
Sandeep Aggarwal
Mikunj Aggarwal
Esha Gupta
Registrar & documents
Lead manager
Pantomath Capital Advisors Private Limited
Registrar & contacts
Kfin Technologies Limited
[email protected]Official registrar portal ↗IPO allotment status guide →Registered office
Ardee Industries Ltd. Khasra No. 340, 1st Floor and 3rd Floor, Village Sultanpur, Mehrauli, Gadaipur, Delhi, New Delhi, 110030
+91 11 4760 021
[email protected]Company website ↗Understanding ARDEE IPO data
Compare the price band and required investment with the company profile, financial results and offer documents. Subscription figures show reported demand by category; they do not establish the value of the business. GMP is an unofficial indication and can change before listing.