Ardee Industries IPO to Open on August 5, Rs 426 Crore Issue Priced at Rs 50 Per Share

Ardee Industries Ltd will launch its Rs 426 crore Initial Public Offering (IPO) on August 5, with the issue closing on August 7. The company has fixed the price band at Rs 50 to Rs 53 per equity share, valuing the secondary metals and circular economy player at around Rs 1,671 crore. The anchor investor portion will open on August 4, while the shares are scheduled to debut on the BSE and NSE on August 12, subject to regulatory approvals.

The book-built issue comprises a fresh issue of Rs 320 crore and an Offer for Sale (OFS) of up to 1.99 crore shares by promoter shareholders. At the upper end of the price band, the total issue size works out to approximately Rs 425.87 crore. Investors can bid for a minimum lot of 281 shares, requiring an investment of Rs 14,893 at the upper price band. The IPO allocation has been reserved at 50% for Qualified Institutional Buyers (QIBs), 15% for Non Institutional Investors (NIIs) and 35% for retail investors.

The company plans to utilise Rs 220 crore from the fresh issue towards incremental working capital requirements, Rs 22 crore for repayment or prepayment of borrowings, while the remaining proceeds will be used for general corporate purposes.

Ahead of the IPO, Ardee Industries completed secondary share transactions worth around Rs 115 crore in two tranches on July 24 and July 27 at Rs 53 per share. The deals attracted well known investors including Ashish Kacholia, Winro Commercial led by Rohit Kothari, Bharat Value Fund, Jaisinghani Family Office, Jagdish Master Family Office, Anuj Sheth Family Office and Gagan Chaturvedi Family Office.

Ardee Industries is among India's leading circular economy companies, specialising in the recovery and recycling of end of life energy storage products and non ferrous scrap. It manufactures pure lead and lead alloys with purity levels ranging from 99.97% to 99.985%, catering to the energy storage, e mobility, automotive and chemical sectors. Recently, the company also secured London Metal Exchange (LME) approval for its Ardee Lead 9997 brand, a key milestone that enhances its global credibility in refined lead exports.

The company has posted strong financial growth, with revenue from operations rising to Rs 1,167.65 crore in FY26 from Rs 462.96 crore in FY24, while profit after tax surged to Rs 84.68 crore from Rs 8.95 crore during the same period.

Following the issue, promoter shareholding is expected to decline from 91.48% to about 67.62%, increasing the company's public float. Pantomath Capital Advisors is the sole book running lead manager, while KFin Technologies is the registrar to the issue. Tentative allotment is expected on August 10, followed by demat credit and refunds on August 11 before listing on August 12.