Ardee IPO

Listed

MainboardOpens 5 August 2026Closes 7 August 2026

Ardee Industries Limited is an Indian diversified metals recycling company focused on the sustainable recovery and recycling of end-of-life batteries and non-ferrous metal scrap. The company manufactures high-purity…

Live GMP Subscription Allotment

Price band

₹50 - ₹53

Issue size

₹425.87 Cr

Lot size

281 shares

Type

Mainboard

GMP

₹16 (+30.2%)

Est. listing

₹69

Est. profit / app

₹4,496

Retail quota

35.00%

Key ratios

As per RHP / filings

Face value

₹2

EPS

3.32

P/E ratio

15.96

RoNW

57.46%

ROE

57.46%

Debt / Equity

1.25

Timeline

IPO Opens

5 Aug

IPO Closes

7 Aug

Allotment

10 Aug

Listing

12 Aug

IPO Timeline & Listing Details

Event	Date	Details
IPO Open Date	5 August 2026	Subscription starts
IPO Close Date	7 August 2026	Subscription ends
Allotment Date	10 August 2026	Allotment
Listing Date	12 August 2026	Listing

Investment Categories

Category	Lots	Amount
Retail (Min)	1	₹14,893
Retail (Max)Just less than ₹2,00,000	13	₹1,93,609
SHNI (Min)Just above ₹2,00,000	14	₹2,08,502
SHNI (Max)Below ₹10,00,000	67	₹9,97,831
BHNIAbove ₹10,00,000	68	₹10,12,724

IPO Reservation Details

Category	Reservation
QIB (Qualified Institutional Buyer)	50.00%
NII (Non-Institutional Investor)	15.00%
SHNI (Small Non-Institutional Investor)	5.00%
BHNI (Big Non-Institutional Investor)	10.00%
Retail	35.00%
Market Maker	0.00%
Total	100.00%

IPO Objectives

Funding incremental working capital requirement of the Company (₹220.00 Cr).
Repayment and/or pre-payment, in full or in part, of certain borrowings availed by the Company (₹20.00 Cr).
General Corporate Purposes.

Strengths

Operates a large-scale integrated manufacturing facility in Tirupati, Andhra Pradesh, strategically located near major battery manufacturers with an installed production capacity of 104,025 MTPA.
Demonstrated strong financial performance with consolidated revenue growing by 57.21% YoY to ₹11,676.53 million and PAT increasing significantly to ₹846.81 million in Fiscal 2026.
High percentage of repeat business, deriving between 83.68% and 92.80% of revenue from repeat customers over the last three fiscal years.
Strong geographical diversification in exports, serving more than 50 customers globally and supplying products to Singapore, Switzerland, South Korea, Japan, Hong Kong, UAE, and the USA.

Weaknesses

High customer concentration risk, with the top customer alone contributing 40.64% of total revenue from operations in Fiscal 2026 and the top 10 customers contributing 91.61%.
Business is highly susceptible to the volatility of global lead prices (linked to LME) and raw material costs, which can significantly impact operational margins.
The company operates in a strictly regulated and environmentally sensitive industry, requiring constant compliance with stringent environmental, health, and safety laws.
Substantial dependency on the lead-acid battery sector (which accounted for 34.77% of revenue in FY26); the increasing adoption of lithium-ion batteries poses a long-term substitution threat to lead-acid battery recycling volumes.

Financial Performance

Period Ended	31 Mar 2026	31 Mar 2025	31 Mar 2024
Assets (₹ Cr.)	363.33	262.06	196.12
Revenue (₹ Cr.)	1,168.88	743.53	463.39
PAT (₹ Cr.)	84.68	33.27	8.95
Net Worth (₹ Cr.)	147.38	62.6	29.25

Peer Comparison

Company	P/B Ratio	P/E Ratio	RONW (%)	Net Worth (₹ Cr.)
Ardee Industries Ltd.	9.16	15.96	57.46%	147.38
Gravita India Limited	4.93	30.87	15.45%	280.48
Jain Resources Recycling	7.47	33.54	22.25%	22.44

Subscription Details

Daily Bids Status

Category	Day 1	Day 2	Day 3
QIB	1.13x	1.33x	202.26x
NII	5.6x	31.93x	266.75x
S-HNI	6.07x	36.76x	220.51x
B-HNI	5.37x	29.52x	289.87x
RII	3.48x	14.99x	47.76x
Total	3.26x	14.72x	138.83x

Overall Subscription Statistics

Category	Shares Offered	Shares Bid	Bid Amount (₹ Cr)
QIB	1,60,70,390	3,25,04,36,028	17,227.31
NII	1,20,52,793	3,21,50,55,037	17,039.79
Small NII	40,17,598	88,59,32,023	4,695.44
Big NII	80,35,195	2,32,91,23,014	12,344.35
RII	2,81,23,183	1,34,32,52,498	7,119.24
Total	5,62,46,366	7,80,87,43,563	41,386.34

Company Details

Ardee Industries Limited
Khasra No. 340, 1st Floor and 3rd Floor, Village Sultanpur, Mehrauli, Gadaipur, New Delhi - 110 030, India
+91 11 4760 0214
cs@ardeeindustries.com
https://www.ardeeindustries.com/

Registrar Details

KFin Technologies Limited
+91 40 6716 2222 / 1800 309 4001
ardeeindustries.ipo@kfintech.com
https://www.kfintech.com/

Frequently Asked Questions

What does Ardee Industries Limited do?

Ardee Industries Limited is engaged in the sustainable recycling and recovery of lead-based materials and non-ferrous metal scrap. The company manufactures and supplies refined high-purity lead and specialized lead alloys for industries such as battery manufacturing, electric mobility, and industrial manufacturing.

What are the IPO dates for Ardee Industries Limited Mainboard IPO?

The Ardee Industries Limited IPO opens for public subscription on August 5, 2026, and closes on August 7, 2026. The anchor investor bidding date is August 4, 2026.

What is the price band and minimum investment for Ardee Industries IPO?

The price band is fixed at ₹50 to ₹53 per share. Retail investors need to apply for a minimum lot of 281 shares, requiring an investment of ₹14,893 at the upper price band.

What is the issue size of the Ardee Industries IPO?

The total IPO issue size is ₹425.87 Crores, comprising a fresh issue of ₹320.00 Crores and an Offer for Sale (OFS) of up to 1,99,75,000 equity shares aggregating to ₹105.87 Crores.

What is the Ardee Industries IPO listing date?

Ardee Industries Limited equity shares are scheduled to list on the BSE and NSE on August 12, 2026.

Ardee IPO News & Updates

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Ardee IPO IPO Pages

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Ardee IPO Details

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Ardee IPO GMP

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Ardee IPO Subscription

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Ardee IPO Allotment

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Ardee IPO Review

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Ardee IPO FAQ

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Ardee IPO Registrar

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Ardee IPO News

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Sources

We match Ardee IPO IPO numbers with official sources. For final dates and allotment results, double-check the registrar or exchange.

SEBIRules for IPO allotment and disclosures in India
NSEExchange notices, bidding data, and listing updates
BSEExchange notices and IPO allotment check tools
RHP / Offer DocumentCheck the company RHP on NSE/BSE or the IPO detail page
KFin Technologies LimitedOfficial site to check allotment status for this IPO

Also read our Editorial Policy, How GMP is calculated, and How allotment chances work.

Reviewed by

Dinesh Agrawal · Lead IPO Analyst

15+ years in Indian markets and IPO research. He reviews IPO dates and key details before they go live.

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