- Issue price
- ₹53per share
- Issue size
- ₹425.87 Cr8,03,51,950 shares
- Face value
- ₹2per equity share
- Lot size
- 281 sharesMin. ₹14,893 at the upper price
- Anchor biddingTue, 2026
- OpensWed, 2026
- ClosesFri, 2026
- AllotmentMon, 2026
- ListingWed, 2026
Dates marked in the offer document as tentative. Times in IST.
Information only, not investment advice. This page provides information compiled from official offer documents for information purposes only. It is not investment advice or a recommendation to apply for, buy or sell any security. We are not a SEBI-registered investment adviser or research analyst. Investments in IPOs are subject to market risks; read the offer document carefully before investing.
Issue details
- Issue type
- Book built, fresh issue and offer for sale
- Fresh issue
- 6,03,76,950 shares (₹320 Cr)
- Offer for sale
- 1,99,75,000 shares (₹105.87 Cr)
- Total issue
- 8,03,51,950 shares (₹425.87 Cr)
- Face value
- ₹2
- Listing at
- NSE, BSE
Source: ProspectusUpdated
Reservation
Share of the total issue- Retail43.8%
- Anchor37.5%
- Big NII12.5%
- Small NII6.3%
| Category | Shares | Of net offer | Stated in RHP |
|---|---|---|---|
| Retail individual investors | 2,81,23,183 | 43.75% | 35% |
| Non-institutional investors (NII) | 1,20,52,793 | 18.75% | 15% |
| Small NII (₹2–10 lakh) | 40,17,598 | 6.25% | — |
| Big NII (above ₹10 lakh) | 80,35,195 | 12.50% | — |
| Qualified institutional buyers (QIB) | 4,01,75,974 | 62.50% | 50% |
| Anchor investors | 2,41,05,584 | 37.50% | — |
Source: ProspectusUpdated
Lot size
Amounts at ₹53 per share| Category | Lots | Shares | Amount |
|---|---|---|---|
| Retail individual investors | 1 | 281 | ₹14,893 |
Source: ProspectusUpdated
Subscription
Category-wise subscription is published by the exchanges while the issue is open. It appears here once the figures are added.
Valuation
Fiscal 2026, pre-issue- EPS (basic)
- ₹3.32
- EPS (diluted)
- ₹3.32
- P/E (Fiscal 2026 at Floor Price)
- 15.05×
- P/E (Fiscal 2026 at Cap Price)
- 15.95×
- RoNW
- 57.46%
- ROCE
- 44.26%
- NAV per share (As at March 31, 2026)
- ₹5.78
- EBITDA margin
- 12.60%
- PAT margin
- 7.25%
Source: ProspectusUpdated
Financials
Standalone, restated · ₹ crore| Period ended | 31 Mar 202612 months | 31 Mar 202512 months | 31 Mar 202412 months |
|---|---|---|---|
| Revenue from operations | 1,167.65 | 742.74 | 462.96 |
| Total income | 1,168.88 | 743.53 | 463.39 |
| EBITDA | 147.08 | 65.93 | 28.06 |
| Profit after tax | 84.68 | 33.27 | 8.95 |
| Net worth | 147.38 | 62.60 | 29.25 |
| Reserves and surplus | 96.42 | 59.42 | 26.06 |
| Total assets | 363.33 | 262.06 | 196.12 |
| Total borrowing | 182.75 | 165.77 | 142.36 |
12 months vs 12 months: revenue +57.2%, profit after tax +154.5%.
Source: ProspectusUpdated
About the company
The company recovers and recycles end-of-life energy storage products and non-ferrous scrap, mainly used lead-acid batteries. It produces pure lead and lead alloys for battery and metal industries in India and overseas, operating a manufacturing facility in Tirupati, Andhra Pradesh.
- Incorporated
- 1993
- Industry
- Metal Recycling
- CIN
- U24294DL1993PLC405804
- Website
- ardeeindustries.com
Source: ProspectusUpdated
Promoters and shareholders
| Name | Before issue | After issue | Shares offered |
|---|---|---|---|
| Esha Gupta | — | — | — |
| Sandeep Aggarwal | 45.73% | — | 99,87,500 |
| Nikunj Aggarwal | 45.43% | — | 99,87,500 |
Source: ProspectusUpdated
Objects of the issue
₹ crore| Purpose | Amount |
|---|---|
| Funding incremental working capital requirement | 220.00 |
| Repayment or prepayment of certain borrowings | 20.00 |
| General corporate purposes | 46.27 |
Source: ProspectusUpdated
Peer comparison
As listed in the offer document| Company | EPS | P/E | RoNW | NAV per share |
|---|---|---|---|---|
| Ardee Industries LimitedIssuer | ₹3.32 | 15.95× | 57.46% | ₹5.78 |
| Gravita India Limited | ₹52.02 | 35.37× | 15.43% | ₹332.16 |
| Pondy Oxides and Chemicals Limited | ₹43.98 | 31.94× | 16.73% | ₹258.39 |
| Jain Resources Recycling Limited | ₹10.25 | 33.57× | 22.25% | ₹45.24 |
Source: ProspectusUpdated
Strengths and risks
Our summary of what the offer document statesStrengths
- Positioned as a recycler of lead and non-ferrous scrap with a circular-economy focus.
- Revenue grew strongly across the three fiscal years shown, and profit after tax rose over the same period.
- Serves battery and metal customers in both domestic and export markets, with exports to eight countries.
- Manufacturing facility in Tirupati, Andhra Pradesh, near battery manufacturers and ports, with ISO certifications.
- Uses hedging for commodity price risk and holds a listing of its pure lead brand on MCX and LME.
Risks
- A large share of revenue comes from a single top customer and a small group of top customers.
- Most revenue depends on the battery and metal industries, so a downturn or a shift to alternative battery technologies could reduce demand.
- Raw material purchases are made on a purchase-order basis without long-term supply contracts, and a large share of purchases is imported.
- Working capital needs are rising, and the company relies on borrowings and internal accruals to fund them.
- The Net Proceeds plan is based on management estimates and has not been appraised by any bank or agency, and a Group Company operates in a similar business.
Source: ProspectusUpdated
Documents
Contacts
Source: ProspectusUpdated
Allotment status
Check whether shares were allotted on the official pages below, using your PAN, application number or DP/client ID. Results appear once the basis of allotment is finalised.
- Allotment
- Refunds
- Demat credit
- Listing
Source: ProspectusUpdated
After listing
Listing price, day-one high and low, and the change from the issue price (₹53) appear here after the shares list on NSE and BSE.
Work out the gain or loss on allotted shares after charges and tax →
Frequently asked questions
When does the Ardee Industries IPO open and close?
According to the Prospectus, the issue opens on Wednesday, 5 August 2026 and closes on Friday, 7 August 2026.
What is the Ardee Industries IPO price band?
The final issue price is ₹53 per share.
What is the lot size of the Ardee Industries IPO?
One lot is 281 shares, which is ₹14,893 at ₹53 per share.
Where will Ardee Industries shares list?
On NSE and BSE. The tentative listing date is Wednesday, 12 August 2026.
Who is the registrar of the issue?
KFin Technologies Limited (SEBI registration INR000000221). Allotment status is checked on the registrar's website.
How do I check the Ardee Industries IPO allotment status?
The basis of allotment is expected to be finalised on Monday, 10 August 2026. After that, search by PAN, application number or DP/client ID on the registrar's website (KFin Technologies Limited), the NSE website or the BSE website. Shares that are allotted are credited to your demat account; for an application that is not allotted, the blocked amount is released.
How will the money raised be used?
₹220 Cr for funding incremental working capital requirement, ₹20 Cr for repayment or prepayment of certain borrowings, ₹46.27 Cr for general corporate purposes.
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Spotted something wrong?
Our data comes from official offer documents, but mistakes can slip through. Report an error and tell us which figure looks wrong and where you saw the correct one (the offer-document page number helps). For anything else, see Contact.