Ardee Industries IPO Details
Ardee Industries IPO Summary
Ardee Industries IPO opens for subscription on 05 Aug 2026 and closes on 07 Aug 2026.The IPO will be listed on NSE, BSE with the tentative listing date set for 12 Aug 2026.
Ardee Industries IPO price band has been fixed at ₹50 – ₹53 per share. The face value is ₹2 per share with a lot size of 281.
Ardee Industries IPO total issue size comprises 8,03,51,950 shares (aggregating up to ₹425.87 Cr). This includes a fresh issue of 6,03,76,950 shares (aggregating up to ₹320.00 Cr). Offer for Sale consists of 1,99,75,000 shares (aggregating up to ₹105.87 Cr). Pre-issue shareholding stands at 25,48,24,000, which will increase to 31,52,01,358 post-issue.
Ardee Industries IPO carries a ₹14 (26.42%) GMP, reflecting investor sentiment.
Ardee Industries IPO Lot Size :Retail Minimum is 1 lot (281 shares) amounting to ₹14,893. Retail Maximum is 13 lots (3,653 shares) amounting to ₹193,609. SHNI Minimum is 14 lots (3,934 shares) amounting to ₹208,502. SHNI Maximum is 67 lots (18,827 shares) amounting to ₹997,831. BHNI Minimum is 68 lots (19,108 shares) amounting to ₹1,012,724.
Ardee Industries IPO Details
Ardee Industries IPO Subscription
Ardee Industries IPO Application Wise Breakup (Approx)
Ardee Industries IPO Dates
- 05 Aug 2026Opening dateOpen
- 07 Aug 2026Closing dateClose
- 10 Aug 2026Allotment Date Allotment
- 11 Aug 2026Initiation of RefundsRefund
- 11 Aug 2026Credit of SharesCredit
- 12 Aug 2026Listing dateListing
Ardee Industries IPO Lot Size
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail Minimum | 1 | 281 | ₹14,893 |
| Retail Maximum | 13 | 3653 | ₹193,609 |
| SHNI Minimum | 14 | 3934 | ₹208,502 |
| SHNI Maximum | 67 | 18827 | ₹997,831 |
| BHNI Minimum | 68 | 19108 | ₹1,012,724 |
Ardee Industries IPO Reservation
Promoter Holding
Documents
Ardee Industries IPO Valuations
Ardee Industries Financial Information
| 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 | |||
About Ardee Industries IPO
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.
Strength Of Ardee Industries IPO
- 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.
Risk Of Ardee Industries IPO
- We served 52, 54 and 54 customers for the Fiscals 2026, 2025 and 2024. The revenue from our top customer was Rs. 4,745.56 million, Rs. 3,804.08 million and Rs. 3,352.94 million and contributed to 40.64%, 51.22% and 72.42% of revenue from operations during the respective years. The loss of any of these customers could have a material adverse effect on our business, financial condition, results of operations and cash flows.
- During the Fiscals 2026, 2025 and 2024, 84.79%, 87.23% and 88.64% of our revenue from operations, respectively, was attributed to the battery and metal industries and therefore our business operations are dependent upon the said industries. Any downturn in the demand of battery and metal industries and the other industries in which our customers operate, could adversely affect our business, financial performance and condition.
- We depend on third party suppliers for the supply of raw material required for our business operations. Any disruptions in the supply or availability of the raw material or fluctuations in their prices may have an adverse impact on our business operations, cash flows and financial performance. Further, our cost of raw material purchased from our top 10 suppliers were Rs. 3,567.49 million, Rs. 3,047.48 million and Rs. 1,881.67 million, representing 38.48%, 53.71% and 51.06%, of our total purchases of raw materials in the Fiscals 2026, 2025 and 2024, respectively.
- We have a limited operating history, and our historical performance may not be indicative of our future growth or financial results.
- Our debt-to-equity ratio, as per our Restated Financial Information, was 1.25 times, 2.65 times and 4.87 times for Fiscals 2026, 2025 and 2024, respectively. A high debt-to-equity ratio may adversely affect our financial condition and results of operations.
- We operate in a labour-intensive industry and dependent on contract labour for our manufacturing operations. In the event of non-availability of contract labour or increase in labour cost or any adverse regulatory orders or strikes or labour unrest, it may have a material adverse impact on our operations.
- Any adverse revision to our credit rating by rating agencies may adversely affect our ability to raise additional financing and the interest rates and other commercial terms at which such funding is available.
- Our inability to comply with repayment and other covenants in the financing agreements or otherwise meet our debt servicing obligations could adversely affect our business, financial condition, cash flows and credit rating. Further, we are subject to risks arising from interest rate fluctuations, which could reduce our profitability and adversely affect our business, financial condition and results of operations.
- We derived about 83.68% to 92.80% of our Revenue from Operations from repeat customers in the preceding three Fiscals and any loss of or a significant reduction in the repeat customers or revenue generated from them could adversely affect our business, results of operations, financial condition and cash flows.
- Out of our Revenue from Operations from 12 states/union territories across India, more than 40.84% of our revenue from operations during the Fiscal 2026 was derived from Andhra Pradesh. Further out of our Revenue from Operations from 8 countries, a significant amount of revenue is earned from countries such as Singapore, Switzerland and South Korea. Any disruption, including occurrence of any internal or external factors in the State of Andhra Pradesh or in Singapore, Switzerland and South Korea may restrict our operations and adversely affect our business, results of operations and financial conditions.
Objectives Ardee Industries IPO
1. Funding incremental working capital requirement of our Company
2. Repayment and/or pre-payment, in full or in part, of certain borrowings availed by our Company
3. General corporate purposes
Company Contact Details
Khasra No. 340, 1st Floor and 3rd Floor, Village Sultanpur, Mehrauli, Gadaipur,
Delhi, New Delhi , 110030
Phone: +91 11 4760 021
Email: cs@ardeeindustries.com
Website: https://ardeeindustries.com/
Registrar Contact Details
Ardee Industries FAQs
The Ardee Industries IPO is a MAINBOARD public issue comprising 80351950 equity shares with a face value of ₹2 each, aggregating to a total issue size of ₹425.87 Cr. The issue price has been fixed at ₹53 per equity share, and the minimum application size is 281 shares.
The IPO opens for subscription on 05 Aug 2026, and closes on 07 Aug 2026.
Kfin Technologies Ltd has been appointed as the registrar to the issue. The equity shares are proposed to be listed on the Bombay Stock Exchange (BSE) and the National Stock Exchange (NSE).
As of now, the current GMP stands at ₹14 (26.42%).
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