Ardee Industries’ ₹426 crore IPO to open on Aug 5; sets price band at ₹50-53
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Ardee Industries, a company engaged in the sustainable recycling of end-of-life energy storage products and non-ferrous scrap, will launch its initial public offering (IPO) for public subscription on August 5, with the issue closing on August 7. The allotment of shares is expected to be finalised on August 10, while the company's shares are likely to debut on the BSE and NSE on August 12.
The company aims to raise ₹425.87 crore through a combination of a fresh issue and an offer for sale (OFS) at a price band of ₹50-53 per share.
The IPO comprises a fresh issue of 6.04 crore equity shares worth ₹320 crore and an offer for sale of 2 crore equity shares aggregating to ₹105.87 crore by existing shareholders.
Investors can bid for a minimum of 281 shares, translating into a minimum investment of ₹14,893 for retail investors at the upper end of the price band.
As per the draft red herring prospectus (DRHP) filed with Sebi, up to 50% of the issue is reserved for qualified institutional buyers (QIBs), up to 35% for retail investors, and at least 15% for non-institutional investors (NIIs).
Founded in 1993, Ardee Industries specialises in the recovery and recycling of end-of-life batteries and non-ferrous metal scrap. The company manufactures high-purity lead and value-added lead alloys, including lead calcium, lead antimony, lead tin, lead silver, and lead cadmium alloys.
Its products cater to industries such as energy storage, electric mobility, automotive, and chemicals, where lead-based materials continue to play a critical role.
As of March 31, 2025, the company had served more than 50 customers across domestic and international markets. It exports to seven countries, including Singapore, Hong Kong, South Korea, Switzerland, the UAE, Japan, and the United States.
Ardee Industries plans to utilise the proceeds from the fresh issue primarily to strengthen its balance sheet and support future growth. Of the net proceeds, ₹220 crore will be used to meet the company's incremental working capital requirements, while ₹20 crore will be utilised for the repayment or prepayment of certain borrowings. The remaining funds will be used for general corporate purposes.
On the financial front, the company's total income rose 57% to ₹1,168.88 crore in FY26 from ₹743.53 crore in FY25. Profit after tax (PAT) surged 155% to ₹84.68 crore from ₹33.27 crore in the previous financial year. EBITDA more than doubled to ₹147.08 crore from ₹65.93 crore, reflecting improved operating performance.
The company's net worth increased to ₹147.38 crore as of March 31, 2026, from ₹62.60 crore a year earlier. However, total borrowings also rose to ₹182.75 crore, indicating continued investment in business expansion.
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