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IPO Open

Wed, Aug 5, 2026

IPO Close

Fri, Aug 7, 2026

Price Band

₹50 to ₹53

Market Cap (Pre-IPO)

₹1,670.57 Cr

IPO Details

  • IPO Date
    5 to 7 Aug, 2026
  • Listing Date
    Wed, Aug 12, 2026
  • Face Value
    ₹2 per share
  • Price Band
    ₹50 to ₹53
  • Lot Size
    281 Shares
  • Sale Type
    Fresh capital cum OFS
  • Issue Type
    Bookbuilding IPO
  • Listing At
    BSE, NSE
  • Total Issue Size
    8,03,52,358 shares (agg. up to ₹426 Cr)
  • Fresh Issue
    6,03,77,358 shares (agg. up to ₹320 Cr)
  • Offer for Sale
    1,99,75,000 shares of ₹2 (agg. up to ₹106 Cr)
  • Share Holding Pre Issue
    25,48,24,000 shares
  • Share Holding Post Issue
    31,52,01,358 shares

IPO Timetable (Tentative)

  • IPO Open
    Wed, Aug 5, 2026
  • Allotment
    Mon, Aug 10, 2026
  • Credit of Shares
    Tue, Aug 11, 2026
  • IPO Close
    Fri, Aug 7, 2026
  • Refund
    Tue, Aug 11, 2026
  • Listing
    Wed, Aug 12, 2026

Issue Reservation

Investor Category Shares Offered
QIB Shares Offered Not more than 50% of the Net Issue
Retail Shares Offered Not more than 35% of the Net Issue
NII Shares Offered Not less than 15% of the Net Issue

IPO Lot Size

Investors can bid for a minimum of 281 shares and in multiples thereof.

Application Lots Shares Amount
Retail (Min) 1 281 ₹14,893
Retail (Max) 13 3,653 ₹1,93,609
S-HNI (Min) 14 3,934 ₹2,08,502
S-HNI (Max) 67 18,827 ₹9,97,831
B-HNI (Min) 68 19,108 ₹10,12,724

About Ardee Industries Ltd.

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.

Competitive strengths:

  • 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.

Company Financials (Restated)

Ardee Industries Ltd.’s revenue increased by 57% and profit after tax (PAT) rose by 155% between the financial year ending with March 31, 2026 and March 31, 2025.(Amount in ₹ Crore)

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

Recently Listed IPOs in Diversified Metals

Company Issue Type Issue Size Issue Price PE Ratio Listing Day Close Listing Gain/Loss % LTP
Jain Resource Recycling Ltd. Mainboard ₹1,250.00 Cr ₹232 33.62 ₹318.06 +37.09% ₹337.95

IPO Objects of the Issue

The Company proposes to utilise the Net Proceeds from the Issue towards the following objects:

  • # Issue Objects
    Est Amt (₹ Cr.)
  • 1 Funding incremental working capital requirement of Company
    220.0
  • 2 Repayment and/or pre-payment, in full or in part, of certain borrowings availed by Company
    20.00
  • 3 General corporate purpose
  • Total
    240.00

Key Performance Indicator (KPI)

KPI Mar 31, 2026 Mar 31, 2025
ROE 81% 72%
ROCE 44.26% 25.17%
Debt/Equity 1.25 2.65
RoNW 57.46% 53.15%
PAT Margin 7.25% 4.48%
EBITDA Margin 12.60% 8.88%
NAV 5.78 2.46
Price to Book Value 21.54
Valuation Matric Pre IPO Post IPO
EPS (₹) 3.32 2.69
P/E (x) 15.96 19.7
Market Cap at Offer Price ₹1350.57 Cr. ₹1,670.57 Cr.
  • The value will be calculated using Equity Dilution = Share Holding Pre Issue – Share Holding Post Issue
  • The Pre IPO EPS is calculated based on Pre issue shareholding as on date of RHP and the latest FY earnings as of March 31, 2026 available in RHP.
  • The Post Issue EPS is calculated based on the Post issue shareholding and annualized FY earnings of March 31, 2026 available in RHP.

Shareholding Structure

Pre IPO Post IPO
Shares % Shares %
Promoter and Promoter Group 23,31,25,700 91.48 21,31,50,700 67.62
Others* 2,16,98,300 8.52 10,20,50,658 32.38
Total 25,48,24,000 100 31,52,01,358 100

*Others shareholder category includes public and Non Promoter-Non Public shareholders.

Company Promoters:

  • Esha Gupta
  • Mikunj Aggarwal
  • Sandeep Aggarwal

Offer For Sale – Selling Shareholder

Name Category No. of Shares Offered Amount (₹ cr.)
Sandeep Aggarwal Promoter 99,87,500 52.93
Nikunj Aggarwal Promoter 99,87,500 52.93
Total 1,99,75,000 105.87

IPO Registrar

Kfin Technologies Ltd.

IPO Lead Manager(s)

  1. Pantomath Capital Advisors Pvt.Ltd.  (Past IPO Performance)

Lead Manager Reports

  • Lead Manager Performance Summary
  • Lead Manager Performance Tracker

Contact Details

Ardee Industries Ltd. Address
Khasra No. 340, 1st Floor and 3rd Floor,
Village Sultanpur,
Mehrauli, Gadaipur,
Delhi, New Delhi, 110030

IPO FAQs

Ardee Industries IPO is a main-board IPO of 8,03,52,358 equity shares of the face value of ₹2 aggregating up to ₹426 Crores. The issue is priced at ₹50 to ₹53. The minimum order quantity is 281.

The IPO opens on Wed, Aug 5, 2026, and closes on Fri, Aug 7, 2026.

Kfin Technologies Ltd. is the registrar for the IPO. The shares are proposed to be listed on BSE, NSE.

Angel One customers can apply online in Ardee Industries IPO using UPI as a payment gateway. Angel One customers can apply in Ardee Industries IPO by login into Angel One Console (back office) and submitting an IPO application form.

Steps to apply in Ardee Industries IPO through Angel One

Visit the Angel One website and login to Console.
Go to Portfolio and click the IPOs link.
Go to the ‘Ardee Industries IPO’ row and click the ‘Bid’ button.
Enter your UPI ID, Quantity, and Price.
Submit IPO application form.
Visit the UPI App (net banking or BHIM) to approve the mandate.
Visit Angel One IPO Application Process Review for more detail.

The Ardee Industries IPO opens on Wed, Aug 5, 2026 and closes on Fri, Aug 7, 2026.

Ardee Industries IPO lot size is 281, and the minimum amount required for application is ₹14,893.

You can apply in Ardee Industries IPO online using either UPI or ASBA as a payment method. ASBA IPO application is available in the net banking of your bank account. UPI IPO Application is offered by brokers who don’t offer banking services. Read more detail about applying IPO online through Angel One, Upstox, 5Paisa, Nuvama, HDFC Bank, and SBI Bank.

The finalization of Basis of Allotment for Ardee Industries IPO will be done on Monday, August 10, 2026, and the allotted shares will be credited to your demat account by Tue, Aug 11, 2026. Check the Ardee Industries IPO allotment status.

The Ardee Industries IPO listing date is not yet announced. The tentative date of listing is Wed, Aug 12, 2026.

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