Ardee Industries IPO is a Mainboard public offering through the book-building process. The company has launched the IPO to raise fresh capital for business expansion while certain existing shareholders are also participating through an Offer for Sale (OFS). After the completion of the issue, the company’s equity shares will be listed on both the National Stock Exchange (NSE) and the Bombay Stock Exchange (BSE).
Ardee Industries Limited is engaged in the business of recycling and manufacturing lead-based products. The company specialises in recovering lead from used batteries and recyclable materials before processing it into refined lead and value-added lead alloys. These products are supplied to customers operating in the automotive, battery manufacturing, power backup, industrial equipment, and energy storage sectors.
The company follows an integrated manufacturing approach that includes sourcing recyclable materials, refining metals, quality testing, alloy manufacturing, packaging, and distribution. Its manufacturing facilities are designed to improve operational efficiency while maintaining product quality and environmental compliance.
With increasing awareness of sustainable manufacturing and resource conservation, recycled metals have become an important part of India’s industrial supply chain. Growing demand for lead-acid batteries, renewable energy storage systems, electric mobility, and industrial applications is expected to support long-term demand for recycled lead products.
Ardee Industries Limited continues to focus on expanding production capacity, improving manufacturing technology, strengthening customer relationships, and increasing operational efficiency. Through continuous investment in modern recycling infrastructure and quality management systems, the company aims to strengthen its position in India’s organised metal recycling industry.
Before making any investment decision, investors should carefully analyse the company’s financial performance, industry outlook, valuation, competitive strengths, business strategy, and future growth opportunities.
Ardee Industries IPO Details
| IPO Details | Information |
|---|---|
| IPO Name | Ardee Industries IPO |
| Company Name | Ardee Industries Limited |
| IPO Type | Book Built Issue |
| IPO Category | Mainboard IPO |
| Face Value | ₹2 Per Equity Share |
| Price Band | ₹50 to ₹53 Per Share |
| Fresh Issue | ₹320 Crore |
| Offer for Sale | 3,76,50,000 Equity Shares |
| Total Issue Size | ₹425.87 Crore |
| IPO Open Date | 5 August 2026 |
| IPO Close Date | 7 August 2026 |
| Basis of Allotment | 10 August 2026 (Tentative) |
| Refund Initiation | 11 August 2026 (Tentative) |
| Shares Credited to Demat Account | 11 August 2026 (Tentative) |
| Listing Date | 12 August 2026 (Tentative) |
| Listing Exchange | BSE & NSE |
| Lot Size | 281 Shares |
| Registrar | KFin Technologies Limited |
| Book Running Lead Manager | Pantomath Capital Advisors Private Limited |
The IPO comprises both a fresh issue of equity shares and an Offer for Sale by existing shareholders. The company intends to utilise the proceeds from the fresh issue for business requirements as stated in its offer documents, while the proceeds from the Offer for Sale will be received by the selling shareholders.
Ardee Industries IPO Dates
The important events associated with the Ardee Industries IPO are listed below.
| IPO Event | Date |
|---|---|
| IPO Opening Date | 5 August 2026 |
| IPO Closing Date | 7 August 2026 |
| Basis of Allotment | 10 August 2026 (Tentative) |
| Refund Initiation | 11 August 2026 (Tentative) |
| Shares Credited to Demat Account | 11 August 2026 (Tentative) |
| Listing Date | 12 August 2026 (Tentative) |
Investors can submit IPO applications between 5 August 2026 and 7 August 2026 through the ASBA process or UPI-supported applications. Following the allotment process, successful applicants are expected to receive shares in their demat accounts before the proposed listing on the BSE and NSE.
Ardee Industries IPO Reservation
The IPO allocation has been structured according to the regulatory requirements applicable to Mainboard public issues.
| Investor Category | Reservation |
|---|---|
| Qualified Institutional Buyers (QIB) | Not More Than 50% |
| Non-Institutional Investors (NII) | Not Less Than 15% |
| Retail Individual Investors (RII) | Not Less Than 35% |
The final allocation under each category will depend on the valid applications received during the subscription period and the applicable SEBI guidelines.
Ardee Industries IPO Lot Size
As of now, the company has not announced the official price band or lot size for the IPO.
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail Minimum | 1 | 281 | ₹14,893 |
| Retail Maximum | 13 | 3,653 | ₹1,93,609 |
| S-HNI Minimum | 14 | 3,934 | ₹2,08,502 |
| B-HNI Minimum | 68 | 19,108 | ₹10,12,724 |
The minimum application for retail investors is one lot comprising 281 equity shares. Based on the upper price band of ₹53 per share, the minimum investment required is ₹14,893. Investors applying under the HNI category must apply for at least 14 lots.
About Ardee Industries Limited
Ardee Industries Limited is an Indian manufacturing company engaged in recycling lead-bearing materials and producing refined lead and lead alloy products for industrial use. The company plays an important role in the organised metal recycling sector by converting recyclable materials into high-quality finished products that support multiple industries, including automotive, power storage, industrial manufacturing, telecommunications, renewable energy, and infrastructure.
The company follows an integrated manufacturing process that covers the collection of recyclable raw materials, metal recovery, refining, alloy production, quality inspection, packaging, and distribution. By using modern recycling technologies and quality-focused production systems, Ardee Industries aims to manufacture products that meet industry specifications while improving resource efficiency.
Its manufacturing facilities are designed to maintain consistent product quality, optimise production efficiency, and comply with applicable environmental and safety standards. The company continues to invest in advanced processing technology, manufacturing infrastructure, and operational improvements to strengthen its long-term competitiveness.
With growing demand for sustainable manufacturing and efficient resource utilisation, Ardee Industries Limited continues to expand its presence in India’s organised recycling industry while serving customers across diverse industrial sectors.
Business Operations
Ardee Industries Limited operates through various activities across the metal recycling and manufacturing value chain.
- Lead Recycling – The company recovers lead from recyclable materials through organised recycling processes.
- Refined Lead Manufacturing – It produces refined lead that is supplied to battery manufacturers and industrial customers.
- Lead Alloy Production – The company manufactures different grades of lead alloys for specialised industrial applications.
- Raw Material Procurement – It sources recyclable materials from authorised suppliers and recycling channels to ensure uninterrupted production.
- Quality Testing – Every stage of manufacturing undergoes quality inspection to maintain consistency and meet customer specifications.
- Manufacturing Operations – Integrated production facilities support recycling, refining, alloy manufacturing, packaging, and dispatch.
- Industrial Supply Chain – Products are supplied to customers operating in automotive, energy storage, industrial equipment, chemicals, and manufacturing industries.
- Environmental Management – Recycling operations are carried out using systems designed to improve resource utilisation and minimise environmental impact.
- Customer Support – The company focuses on building long-term relationships by ensuring timely deliveries and consistent product quality.
- Business Expansion – Continuous investment in manufacturing capacity and technology supports future operational growth.
Industry Overview
India’s organised metal recycling industry has gained significant importance as industries increasingly focus on sustainable manufacturing and efficient utilisation of natural resources. Recycling reduces dependence on primary mining activities while supporting the circular economy by recovering valuable metals for industrial reuse.
Lead remains an important raw material for manufacturing automotive batteries, industrial batteries, renewable energy storage systems, power backup solutions, and various industrial products. Rising demand for energy storage, electric mobility, telecommunications infrastructure, and industrial manufacturing continues to support long-term consumption of refined lead and lead alloys.
Government initiatives encouraging responsible waste management, organised recycling, environmental protection, and resource conservation are expected to strengthen the growth of India’s recycling industry. Companies with modern manufacturing facilities, efficient recycling processes, diversified customer relationships, and strong quality management systems are expected to benefit from these long-term industry developments.
Business Strategy
Ardee Industries Limited focuses on strengthening its market position by expanding manufacturing capacity, improving operational efficiency, and increasing production of value-added lead products. The company continues to invest in advanced recycling technologies, automation, process improvements, and quality management systems to enhance manufacturing productivity.
The management also aims to diversify its customer base, expand its presence in domestic and international markets, and improve supply chain efficiency. By maintaining strong relationships with industrial customers and continuously upgrading manufacturing capabilities, the company seeks to achieve sustainable long-term growth.
Going forward, Ardee Industries Limited intends to strengthen its competitive position through technological advancement, operational excellence, responsible recycling practices, and continuous product development. These initiatives are expected to support long-term business expansion while contributing to India’s growing circular economy and sustainable manufacturing ecosystem.
Ardee Industries IPO Financial Information
A company’s financial performance provides investors with valuable insights into its business growth, profitability, operational efficiency, and financial stability. Reviewing financial statements over multiple years helps in understanding revenue trends, earnings growth, capital utilisation, and debt management. Investors should analyse these financial metrics along with the company’s business model, industry outlook, valuation, and future growth prospects before making any investment decision.
Ardee Industries Financial Summary
| Particulars | FY2024 | FY2025 | FY2026* |
|---|---|---|---|
| Revenue from Operations | ₹1,258.64 Crore | ₹1,487.39 Crore | ₹1,732.18 Crore |
| Total Income | ₹1,266.82 Crore | ₹1,495.71 Crore | ₹1,741.26 Crore |
| EBITDA | ₹102.44 Crore | ₹124.83 Crore | ₹149.18 Crore |
| Profit Before Tax (PBT) | ₹72.16 Crore | ₹90.54 Crore | ₹111.37 Crore |
| Profit After Tax (PAT) | ₹53.84 Crore | ₹67.49 Crore | ₹82.96 Crore |
| Net Worth | ₹296.81 Crore | ₹362.47 Crore | ₹443.85 Crore |
| Total Borrowings | ₹184.35 Crore | ₹171.92 Crore | ₹158.46 Crore |
*FY2026 figures are based on the latest financial information available in the offer documents.
The financial performance reflects steady growth in revenue and profitability over the reported periods. The company has also strengthened its net worth while maintaining a balanced borrowing profile. Investors should evaluate these financial results together with the company’s manufacturing capacity, raw material sourcing, operational efficiency, and long-term expansion plans before making an investment decision.
Ardee Industries IPO Key Performance Indicators (KPIs)
Key financial ratios help investors assess the company’s profitability, capital efficiency, financial strength, and valuation.
| KPI | Value |
|---|---|
| Return on Equity (ROE) | 22.84% |
| Return on Capital Employed (ROCE) | 25.91% |
| Return on Net Worth (RONW) | 22.84% |
| EBITDA Margin | 8.57% |
| PAT Margin | 4.76% |
| Debt-to-Equity Ratio | 0.36 |
| Earnings Per Share (EPS) | To Be Updated |
| Net Asset Value (NAV) Per Share | To Be Updated |
| Price to Earnings (P/E) | To Be Updated |
The financial ratios indicate stable profitability, efficient capital utilisation, and a moderate debt position. Since the final IPO price band has not yet been announced, valuation-based indicators such as EPS, NAV per share, and the P/E ratio will be updated after the company releases the Red Herring Prospectus (RHP).
Objects of the Ardee Industries IPO
The company intends to utilise the net proceeds from the fresh issue for the following purposes:
- Meeting working capital requirements.
- Repayment or prepayment of certain outstanding borrowings.
- Funding capital expenditure and business expansion.
- Supporting general corporate purposes.
The proposed utilisation of the IPO proceeds is expected to strengthen the company’s financial position, improve liquidity, reduce debt obligations, and support future growth initiatives. These investments are intended to enhance manufacturing capacity, improve operational efficiency, and reinforce the company’s position in the organised metal recycling industry.
Ardee Industries IPO Listing Performance
The listing performance indicates how the company’s shares perform on the stock exchange after the completion of the IPO process. Since the Ardee Industries IPO has not yet been listed, the listing price and listing gain are currently unavailable. These details will be updated once trading begins on the stock exchanges.
| Particular | Value |
|---|---|
| Listing Exchange | NSE & BSE |
| Listing Date | 12 August 2026 (Expected) |
| Issue Price | To Be Announced |
| Listing Price | To Be Updated |
| Listing Gain | To Be Updated |
| Listing Gain (%) | To Be Updated |
The company’s listing performance will depend on factors such as investor demand, subscription levels, overall market conditions, sector outlook, and market sentiment at the time of listing.
Ardee Industries IPO Subscription Status
The subscription status shows the level of participation from various categories of investors during the IPO bidding period. As the public issue has not yet opened for subscription, the subscription data is currently unavailable and will be updated after the bidding process begins.
Ardee Industries IPO Subscription
| Investor Category | Subscription |
|---|---|
| Qualified Institutional Buyers (QIB) | To Be Updated |
| Non-Institutional Investors (NII) | To Be Updated |
| Retail Individual Investors (RII) | To Be Updated |
| Employee Category | To Be Updated (If Applicable) |
| Total Subscription | To Be Updated |
Once the IPO closes, the final subscription figures will provide an indication of investor participation across different categories. However, subscription levels should always be considered along with the company’s financial performance, valuation, business fundamentals, and long-term growth prospects.
Ardee Industries IPO Review
Ardee Industries Limited operates in the organised metal recycling industry by manufacturing refined lead and lead alloy products from recyclable materials. The company supplies its products to customers across automotive, battery manufacturing, industrial equipment, energy storage, and various manufacturing sectors. Its integrated manufacturing facilities and recycling capabilities enable it to manage the complete production process from raw material procurement to finished products.
The company continues to focus on improving manufacturing efficiency, expanding production capacity, strengthening quality management systems, and adopting environmentally responsible recycling practices. Increasing demand for recycled metals and sustainable manufacturing is expected to create long-term opportunities for businesses operating in this sector.
From a financial perspective, Ardee Industries has reported consistent business growth over the reported financial periods. The proposed utilisation of IPO proceeds towards working capital, debt reduction, capital expenditure, and general corporate purposes is expected to strengthen the company’s financial position and support future expansion.
At the same time, investors should carefully evaluate factors such as raw material availability, fluctuations in metal prices, environmental regulations, competition, customer concentration, and overall economic conditions before making an investment decision.
Overall, Ardee Industries Limited operates in an industry supported by growing industrial demand, increasing focus on recycling, and favourable long-term sustainability trends. Investors should review the company’s financial performance, valuation, business strategy, and industry outlook before deciding whether the IPO aligns with their investment objectives.
Ardee Industries IPO Strengths
Ardee Industries Limited has developed its business by combining integrated manufacturing, organised recycling operations, and long-term customer relationships.
- Established presence in the organised lead recycling industry.
- Integrated manufacturing and refining facilities.
- Diversified customer base across multiple industrial sectors.
- Focus on environmentally responsible recycling practices.
- Consistent revenue and profitability growth in recent financial periods.
- Opportunities arising from increasing demand for recycled metals and sustainable manufacturing.
Ardee Industries IPO Risk Factors
Like other manufacturing companies, Ardee Industries Limited faces several operational and industry-related risks that investors should consider before investing.
- Fluctuations in lead prices may impact profitability.
- Availability and pricing of recyclable raw materials can affect production.
- Environmental regulations may increase compliance costs.
- Dependence on industrial demand and battery manufacturing sectors.
- Intense competition within the organised and unorganised recycling industry.
- Economic slowdowns may reduce demand from key customer industries.
Ardee Industries IPO Promoters
Ardee Industries Limited is promoted by experienced entrepreneurs with expertise in metal recycling, manufacturing, and industrial operations. The promoters have played a key role in expanding the company’s production capacity, strengthening operational capabilities, and building long-term customer relationships. Their focus remains on sustainable growth, technology adoption, environmental compliance, and improving manufacturing efficiency.
Ardee Industries IPO Promoters Details
| Promoter | Designation |
|---|---|
| Ardee Industries Limited has multiple promoter shareholders. The complete promoter details are available in the Red Herring Prospectus (RHP). | Promoter Group |
Ardee Industries IPO Management Team
The company is managed by professionals with experience in manufacturing, finance, operations, quality control, environmental management, procurement, and corporate governance. The management team focuses on enhancing production efficiency, expanding manufacturing capacity, maintaining product quality, and supporting long-term business growth.
| Name | Designation |
|---|---|
| Senior Management Team | Manufacturing & Operations |
| Chief Financial Officer | Finance |
| Company Secretary & Compliance Officer | Secretarial & Compliance |
The complete list of directors and key managerial personnel can be referred to in the company’s Red Herring Prospectus (RHP).
Ardee Industries IPO Registrar Details
The registrar is responsible for processing IPO applications, finalising the basis of allotment, crediting shares to successful applicants, initiating refunds where applicable, and providing investor-related services throughout the public issue process.
| Particular | Details |
|---|---|
| Registrar Name | KFin Technologies Limited |
| Website | https://www.kfintech.com |
| IPO Allotment Status | https://ris.kfintech.com/ipostatus |
| Email ID | [email protected] |
| Contact Number | +91-40-6716 2222 |
Ardee Industries IPO Lead Manager Details
The Book Running Lead Manager is responsible for managing the IPO process, coordinating regulatory compliance, marketing the public issue, and assisting the company throughout the listing process.
| Particular | Details |
|---|---|
| Lead Manager | Pantomath Capital Advisors Private Limited |
| Website | https://www.pantomathgroup.com |
| Email ID | [email protected] |
| Contact Number | +91-22-6194 6700 |
Ardee Industries Limited Contact Details
| Particular | Details |
|---|---|
| Company Name | Ardee Industries Limited |
| Registered Office | Maharashtra, India |
| Website | https://ardeeindustries.com/ |
| Email ID | [email protected] |
How to Check Ardee Industries IPO Allotment Status
After the basis of allotment is finalised, investors can check their allotment status through the registrar’s website or the official BSE IPO allotment portal.
Through KFin Technologies Limited
- Visit the official IPO allotment portal of KFin Technologies Limited.
- Select Ardee Industries IPO from the list of available IPOs.
- Choose any one of the available search options, such as Application Number, PAN, or DP/Client ID.
- Enter the required details in the relevant field.
- Click Submit to view your allotment status.
Through BSE
- Visit the official BSE IPO allotment page.
- Select Equity as the issue type.
- Choose Ardee Industries IPO from the company list.
- Enter your Application Number or PAN.
- Complete the verification process.
- Click Search to check your allotment status.
Frequently Asked Questions (FAQs)
What is the Ardee Industries IPO?
Ardee Industries IPO is a Mainboard Book Built public issue comprising a fresh issue of equity shares along with an Offer for Sale by existing shareholders.
When will the Ardee Industries IPO open?
The IPO is scheduled to open for subscription on 5 August 2026.
What is the closing date of the Ardee Industries IPO?
The IPO is scheduled to close on 7 August 2026.
What is the issue size of the Ardee Industries IPO?
The IPO includes a fresh issue of ₹320 crore along with an Offer for Sale of up to 3,76,50,000 equity shares.
What is the price band of the Ardee Industries IPO?
The company has not yet announced the official price band. It will be disclosed before the IPO opens.
What is the lot size of the Ardee Industries IPO?
The official lot size has not yet been announced and will be updated once released by the company.
On which stock exchanges will Ardee Industries shares be listed?
The equity shares are proposed to be listed on both the NSE and BSE.
Who is the registrar for the Ardee Industries IPO?
KFin Technologies Limited is the registrar to the issue.
Who is the Book Running Lead Manager for the Ardee Industries IPO?
Pantomath Capital Advisors Private Limited is acting as the Book Running Lead Manager.
What does Ardee Industries Limited do?
Ardee Industries Limited is engaged in recycling lead-bearing materials and manufacturing refined lead and lead alloy products used across the automotive, battery, industrial, energy storage, and manufacturing sectors.
