Ardee Industries' Rs.426 Crore IPO to Open on August 5
Ardee Industries Ltd, a prominent company in the secondary metals and circular economy industries, announced that it will initiate its Initial Public Offering (IPO) on August 5 to generate up to Rs.426 crore through a mix of a new issue and an offer for sale.
The price range has been set at Rs.50-53 per equity share for its forthcoming IPO, valuing the firm at Rs.1,671 crore.
The three-day initial public offering will end on August 7, and the bidding for anchor investors is scheduled for August 4, as stated by the company.
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The IPO includes a new issue of equity shares totaling up to Rs.320 crore and an Offer for Sale (OFS) of up to 1.99 crore equity shares from promoters -- Sandeep Aggarwal and Nikunj Aggarwal.
At the top of the price range, the overall issue size is estimated to be around Rs 426 crore. Out of the new issue, Rs.220 crore will be allocated for the company's additional working capital needs, Rs.20 crore will be directed to pay off debt, and the rest will be utilized for general corporate purposes. The management stated that as of June 30, 2026, the company had borrowings totaling Rs.182 crore.
Prior to the IPO, the firm experienced secondary share trades totaling approximately Rs.115 crore, involving various institutional investors, experienced market players, and family offices. The trades, carried out in two phases on July 24 and July 27 at Rs.53 per share, involved investors such as 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.
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Ardee Industries functions in the circular economy sector, emphasizing the recovery and recycling of obsolete energy storage products and non-ferrous scrap materials. It additionally retrieves essential materials from waste streams and produces pure lead and lead alloys utilized in industries like energy storage, e-mobility, automotive, and chemicals.
The brand 'Ardee' of the company is featured on the MCX platform, offering customers and commodity traders a venue to buy and trade its product, pure lead. Financially, Ardee Industries' operational revenue increased to Rs.1,167.65 crore in FY26, up from Rs.462.96 crore in FY24.
In FY26, profit after tax increased to Rs.84.68 crore from Rs.8.95 crore in FY24. In total, the offering has allocated 50 percent to Qualified Institutional Buyers (QIBs), 35 percent to retail investors, and the last 15 percent to Non-Institutional Investors (NIIs).
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The company's equity shares are expected to launch on the exchanges on August 12. Pantomath Capital Advisors serves as the exclusive book-running lead manager for the offering, whereas KFin Technologies acts as the registrar.