Ardee Industries Ltd. IPO Details
Ardee Industries was incorporated on September 16, 1993. The company is a leading Indian circular economy player, specialising in recycling end-of-life energy storage products and non-ferrous scrap. It produces high-purity lead and lead alloys for industries like energy storage, e-mobility, automotive, and chemicals, with customizable compositions meeting international standards
| Bidding Dates |
|---|
| 05 Aug 2026 - 07 Aug 2026 |
| Subscription |
|---|
| 133.66x Oversubscribed |
| Check Allotment Status |
|---|
| Minimum Investment | Minimum Lot | Maximum Lot | Lot Size | Number of Shares | Issue Price Band | Post Issue Promoter Holding % | Issue Size | IPO Document |
|---|---|---|---|---|---|---|---|---|
| ₹14,050 | 1 | 13 | 281 | 80.4 M | ₹50 - ₹53 | 67.62 % | ₹4017.6 M - ₹4258.7 M | RHP DOC |
Ardee Industries IPO SUBSCRIPTION STATUS
07 Aug '26Ardee Industries IPO overall subscription rate was 133.66 times the total available shares
Ardee Industries IPO retail subscription rate was 45.71 times in the retail segment
Ardee Industries IPO non-institutional investor subscription rate was 255.24 times in the non-institutional investor category
Ardee Industries IPO Qualified Institutional Bidder subscription rate was 197.77 times the available shares for Qualified Institutional Bidder
| Day | Retail Individual Investor | HNI (NII) Investors | Qualified Institutional Buyers |
|---|---|---|---|
| Category Reservation | 35% | 15% | 50% |
07 Aug 2026 (Day 3) | 45.71x | 255.24x | 197.77x |
06 Aug 2026 (Day 2) | 14.33x | 30.55x | 1.3x |
05 Aug 2026 (Day 1) | 3.22x | 5.32x | 1.1x |
Ardee Industries FINANCIALS
| Period | Revenue from Operations (Rs in crore) | Net Profit (Rs in crore) | Cash Flow from Operations (Rs in crore) | Free Cash Flow (Rs in crore) | Margins |
| FY26 | 1,167.7 | 84.7 | 29.8 | 17.6 | 12.6% |
| FY25 | 742.7 | 33.3 | 7.8 | -17.4 | 8.9% |
| FY24 | 463.0 | 9.0 | -25.3 | -45.8 | 6.1% |
Ardee Industries IPO SUBSCRIPTION STATUS DETAILS
Ardee Industries has 80.4 M shares on offer
Ardee Industries IPO offer price is in the range ₹50 - ₹53
Ardee Industries IPO minimum Investment is ₹14050
Ardee Industries IPO issue size is ₹ 4017.6 M - ₹ 4258.7 M
Ardee Industries has a minimum lot size of 281 Shares per application
Ardee Industries NUMBER OF SHARES ON OFFER
Ardee Industries IPO IMPORTANT DATES
| Issue Open Date | 05 Aug 2026 |
| Issue close Date | 07 Aug 2026 |
| Allotment Date | 10 Aug 2026 |
| Refund Date | 11 Aug 2026 |
| Demat Account Credit Date | 11 Aug 2026 |
| Listing Date | 12 Aug 2026 |
| Listing on Exchange(s) | NSE and BSE |
| Ardee Industries Allotment Status | Exchange/ Registrar |
Ardee Industries IPO subscription opens on 05 Aug 2026, and closes on 07 Aug 2026
IPO allotment for Ardee Industries is expected to be finalized on Monday, 10 Aug 2026
IPO listing for Ardee Industries will be on NSE and BSE on Wednesday, 12 Aug 2026
Ardee Industries Peer
| Stock | Stock Price | Market Cap (Rs crore) | PE TTM | PEG TTM | PS TTM | ROE% | ROA% | Annual Revenue (Rs crore) | Annual Revenue Growth % | Annual Net Profit (Rs crore) | Annual Net Profit Growth % | EPS TTM | EPS TTM Growth % |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Ardee Industries Ltd. | 53 | 1670.6 | 19.7 | 0.1 | 1.4 | 57.4 | 23.3 | 1168.9 | 57.2 | 84.7 | 154.5 | 2.7 | 154.5 |
| Hindustan Zinc Ltd. | 603 | 254786.7 | 14.9 | 0.2 | 5.4 | 61.1 | 32.6 | 41934 | 19.6 | 13832 | 33.6 | 40.4 | 66.6 |
| Gravita India Ltd. | 1732.1 | 12784.4 | 32.6 | 2.1 | 2.7 | 15.4 | 11.1 | 4342.2 | 9.1 | 378.8 | 21.3 | 53.1 | 15.8 |
| Jain Resource Recycling Ltd. | 308.4 | 10642.4 | 29.6 | 1 | 22.3 | 10.3 | 9571.5 | 33.6 | 348.8 | 55.5 | 10.4 | ||
| Pondy Oxides & Chemicals Ltd. | 481.7 | 3674.3 | 25.8 | 0.3 | 1.1 | 16.7 | 13.4 | 2964 | 43.9 | 131.9 | 127.1 | 18.7 | 102.9 |
| Nile Ltd. | 1551.8 | 465.8 | 7.3 | 0.2 | 0.4 | 17.5 | 15.6 | 1044.6 | 13.6 | 55.3 | 52 | 211.3 | 47 |
Ardee Industries INFORMATION ON IPO ISSUE
About Ardee Industries
Ardee Industries was incorporated on September 16, 1993. The company is a leading Indian circular economy player, specialising in recycling end-of-life energy storage products and non-ferrous scrap. It produces high-purity lead and lead alloys for industries like energy storage, e-mobility, automotive, and chemicals, with customizable compositions meeting international standards
Object of the Issue
- Funding the incremental working capital requirement of the company
- Repayment and/or pre-payment, in full or in part, of certain borrowings availed by the company
- General corporate purposes
Ardee Industries - PROMOTERS
| Name |
|---|
| Sandeep Aggarwal |
| Nikunj Aggarwal |
| Esha Gupta |
Ardee Industries - MANAGEMENT & LEADERSHIP
| Name | Designation |
|---|---|
| Sandeep Aggarwal | Chairman & Managing Director |
| Nikunj Aggarwal | Whole-time Director |
| Esha Gupta | Whole-time Director |
| Archana Jain | Independent Director |
| Anand Tandon | Independent Director |
| Vivek Sarbhai | Independent Director |
Ardee Industries Book Running Lead Manager
Pantomath Capital Advisors Private Limited
ardeeindustries.ipo@pantomathgroup.com
Ardee Industries Registrar to the Offer
KFin Technologies Limited
ardeeindustries.ipo@kfintech.com
Ardee Industries Strengths
Client relationship
The company has served over 50 domestic and international customers, including Amara Raja Energy & Mobility and Sebang Metal Trading. It has expanded its global presence, supplying pure lead and lead alloys to customers in more than seven countries, including Singapore, Hong Kong, South Korea, Switzerland, the UAE, Japan, and the USA
Hedging mechanism
The company’s operations are affected by lead price fluctuations on the LME and MCX, which can impact profitability. To manage this risk, it uses board-approved hedging strategies, including back-to-back pricing and futures derivative contracts on the LME
Ardee Industries Risks
Quality standards
The company must maintain strict quality standards in producing pure lead and lead alloys from recyclable materials. Failure to meet customer-specific requirements or industry standards could harm its reputation, financial performance, and order fulfillment
Labour intensive
The company operates in a labour-intensive industry, relying on contract labour for manufacturing pure lead and lead alloys. Disruptions, increased labour costs, regulatory actions, or strikes could materially impact operations, with 337 contractual employees as of August 31, 2025
Price volatility risks
The lead products industry is highly price-volatile, and fluctuations in lead or raw material costs can materially impact the company’s business, operations, and financial condition. Prices are influenced by raw material availability, global supply, recycling efficiency, demand, transportation costs, trade measures, and socio-political factors
IPO FAQs
This IPO consists of an offer for sale of up to Rs 105.9 crore, of 19,975,000 shares. It also consists of a fresh issue of Rs 320.0 crore.
The promoters of the company are Sandeep Aggarwal, Nikunj Aggarwal and Esha Gupta.
The category allocation of qualified institutional buyers is 50.0%, the category allocation of non individual investors or high networth individuals is 15.0% and for retail investors it is 35.0%.
The price band of the IPO is Rs 50.0 - 53.0.
The IPO application opens on Aug 05, 2026 and closes on Aug 07, 2026.
The minimum lot size for the IPO is 281. The maximum lot size for the IPO is 3653.
For all category investors, the minimum application amount for this IPO is Rs. 14,050.0, the maximum value for this IPO is Rs 193,609.0.
This IPO will be allotted on Aug 10, 2026.
The refund will be credited to your account on Aug 11, 2026.
The allotted shares will be credited to your demat on Aug 11, 2026.
Ardee Industries Ltd.’s shares will list on the stock exchanges on Aug 12, 2026.