Ardee Industries IPO: dates, price band, lot size and GMP
Ardee Industries IPO listed on 12 Aug at ₹72 (NSE, BSE). Issue dates 5 – 7 Aug 2026, price band ₹53, lot 281 shares. The shares now trade on the exchange; any pre-IPO price on this site is historical.
Listing: Ardee Industries listed on 12 Aug 2026 on NSE, BSE at ₹72, +₹19 (+35.8%) against the ₹53 upper band. Ardee Industries IPO listing date, price and gain · Recently listed IPOs
Updated 30 Oct 2026, 09:10 IST. Unofficial grey-market figures, dated.
BuyUnlistedShares tracks 222 IPOs on its calendar; the Ardee Industries IPO has a price band of ₹53, a lot of 281 shares and no grey-market premium reported yet as of 30 Oct 2026.
Key details
| Board | Mainboard |
|---|---|
| Issue dates | 5 – 7 Aug 2026 |
| Price band | ₹53 |
| Lot size | 281 shares |
| Issue size | ₹425.87 Cr |
| Fresh issue | ₹320 Cr |
| Offer for sale | ₹105.87 Cr |
| Subscription | 138.83x |
| Registrar | Kfin Technologies Ltd. |
| Lead managers | Pantomath Capital Advisors Pvt.Ltd. |
| Status | Listed |
Timeline
- Issue opens: 5 Aug
- Issue closes: 7 Aug
- Allotment: 10 Aug
- Refunds: 11 Aug
- Demat credit: 11 Aug
- Listing: 12 Aug
Live subscription
| Category | Subscribed |
|---|---|
| QIB | 202.26x |
| NII | 266.75x |
| sNII | 220.51x |
| bNII | 289.87x |
| Retail | 47.77x |
| Total | 138.83x |
Last updated 7 Aug 2026, 6:55 PM IST.
Issue details
| Face value | ₹2 |
|---|---|
| Issue type | Book Build Issue |
| Listing at | NSE, BSE |
| Market cap at the upper band | ₹1,670.57 Cr |
| P/E (pre-issue) | 15.96x |
| P/E (post-issue) | 19.7x |
| Fresh issue (shares) | 6,03,77,358 |
| Offer for sale (shares) | 1,99,75,000 |
| Total shares offered | 8,03,52,358 |
| Promoter holding pre-issue | 91.48% |
| Promoter holding post-issue | 67.62% |
| Promoters | Sandeep Aggarwal, Nikunj Aggarwal, Esha Gupta |
| Lead managers | Pantomath Capital Advisors Pvt.Ltd. |
| Registrar phone | 040-79615565 |
| Registrar email | ardeeindustries.ipo@kfintech.com |
| Company website | ardeeindustries.com |
| Anchor bid date | 4 Aug 2026 |
| Anchor lock-in ends (50%) | 9 Sep 2026 |
| Anchor lock-in ends (remaining) | 8 Nov 2026 |
Lot sizes by investor category
| Category | Lots | Shares | Amount |
|---|---|---|---|
| Retail (minimum) | 1 | 281 | ₹14,893 |
| Retail (maximum) | 14 | 3,934 | ₹2,08,502 |
| sNII (minimum) | 14 | 3,934 | ₹2,08,502 |
| bNII (minimum) | 68 | 19,108 | ₹10,12,724 |
Reservation
| Category | Share of issue | Shares offered | Basis |
|---|---|---|---|
| Anchor Investor | 30% | 2,41,05,584 | |
| QIB | 20% | 1,60,70,390 | Not more than 50% of the Net Issue |
| NII (HNI) | 15% | 1,20,52,793 | Not less than 15% of the Net Issue |
| sNII | 5% | 40,17,598 | |
| bNII | 10% | 80,35,195 | |
| Retail | 35% | 2,81,23,183 | Not more than 35% of the Net Issue |
Subscription by day
| Day | QIB | NII | sHNI | bHNI | Retail | Total |
|---|---|---|---|---|---|---|
| Day 1 · 5 Aug | 1.13x | 5.60x | 6.07x | 5.37x | 3.48x | 3.26x |
| Day 2 · 6 Aug | 1.33x | 31.93x | 36.76x | 29.52x | 14.99x | 14.72x |
| Day 3 · 7 Aug | 202.26x | 266.75x | 220.51x | 289.87x | 47.77x | 138.83x |
Key ratios as of 31 Mar 2025
| EPS (pre-issue) | ₹3.32 |
|---|---|
| EPS (post-issue) | ₹2.69 |
| P/E (pre-issue) | 15.96x |
| P/E (post-issue) | 19.7x |
| RoNW | 53.15% |
| RoCE | 25.17% |
| RoE | 72% |
| PAT margin | 4.48% |
| EBITDA margin | 8.88% |
| Price / book | 21.54x |
| NAV per share | ₹2.46 |
| Debt / equity | 2.65 |
| Market cap (upper band) | ₹1,670.57 Cr |
Financials (₹ Cr)
| Metric | FY26 | FY25 | FY24 | FY26 vs FY25 |
|---|---|---|---|---|
| Assets | 363.33 | 262.06 | 196.12 | +38.6% |
| Total Income | 1,168.88 | 743.53 | 463.39 | +57.2% |
| Profit After Tax | 84.68 | 33.27 | 8.95 | +154.5% |
| EBITDA | 147.08 | 65.93 | 28.06 | +123.1% |
| NET Worth | 147.38 | 62.6 | 29.25 | +135.4% |
| Reserves and Surplus | 96.42 | 59.42 | 26.06 | +62.3% |
| Total Borrowing | 182.75 | 165.77 | 142.36 | +10.2% |
About Ardee Industries
Ardee Industries Limited is engaged in the recycling and recovery of lead-based materials and non-ferrous metal scrap, contributing to the circular economy through the sustainable processing of end-of-life energy storage products. The company focuses on transforming recyclable materials into value-added products for industrial applications. The company manufactures and supplies refined lead and a range of specialized lead alloys, including lead calcium, lead antimony, lead tin, lead silver, and lead cadmium alloys. These products serve various industries such as battery manufacturing, electric mobility, automotive components, energy storage systems, and chemical processing.
As of March 31, 2025, Ardee Industries catered to more than 50 customers across domestic and international markets. Its products have been exported to multiple countries, including Singapore, Hong Kong, South Korea, Switzerland, the United Arab Emirates, Japan, and the United States, reflecting its presence in global metal and battery supply chains. The company operates an integrated manufacturing facility located in the Tirupati district of Andhra Pradesh, spread across approximately 7.61 acres.
The facility has an installed production capacity of 104,025 MTPA and is equipped with modern lead recycling and refining infrastructure, including rotary furnaces, refining kettles, casting equipment, and environmental protection systems designed to support efficient and sustainable operations. Ardee Industries maintains internationally recognized management standards and holds certifications including ISO 9001:2015 for Quality Management Systems, ISO 14001:2015 for Environmental Management Systems, and ISO 45001:2018 for Occupational Health and Safety Management Systems.
Key Competitive Advantages Established position in India's recycling and circular economy ecosystem with a proven operating track record. Utilization of commodity hedging strategies to manage fluctuations in raw material and metal prices. Diversified customer base supported by strong procurement and sourcing capabilities for raw materials. History of stable profitability and consistent financial performance. Leadership team comprising experienced promoters and industry professionals.
Objects of the issue
- Funding incremental working capital requirement of Company — ₹220 Cr
- Repayment and/or pre-payment, in full or in part, of certain borrowings availed by Company — ₹20 Cr
- General Corporate Purposes
Net proceeds: ₹240 Cr
Peer comparison
| Company | EPS (Basic) | EPS (Diluted) | NAV (₹ per share) | P/E (x) | RoNW (%) | P/BV Ratio | Financial statements |
|---|---|---|---|---|---|---|---|
| Ardee Industries (issuer) | 3.32 | 3.32 | 5.78 | — | 57.46% | — | — |
| Gravita India | 52.02 | 52.02 | 332.16 | 35.37x | 15.43% | 5.54 | — |
| Pondy Oxides and Chemicals | 43.98 | 43.98 | 258.39 | 31.94x | 16.73% | 5.44 | — |
| Jain Resources Recycling | 10.25 | 10.25 | 45.24 | 33.57x | 22.25% | 7.64 | — |
Notes: Basic and diluted earnings per share refers to the basic and diluted earnings per share sourced from the financial statements of the respective peer group companies for the Fiscal 2026. Net asset value per share represents Net worth divided by total number of shares at the end of the year. Price/earnings ratio for the peer group has been computed based on the closing market price of equity shares on BSE as on July 15, 2026, divided by the diluted earnings per share for the Fiscal 2026. Return on Net Worth is calculated as Profit for the year as a percentage of Net Worth.
Offer documents: DRHP (PDF) · RHP (PDF)
Frequently asked questions
When does the Ardee Industries IPO open and close?
The issue is scheduled for 5 – 7 Aug 2026.
What is the Ardee Industries IPO price band?
The price band is ₹53 per share with a lot size of 281 shares.
How big is the Ardee Industries IPO?
The total issue size is ₹425.87 Cr, of which ₹320 Cr is a fresh issue and ₹105.87 Cr an offer for sale.
When will Ardee Industries list?
The tentative listing date is 12 Aug on the main board.
How do I apply for the Ardee Industries IPO?
Apply through your broker or bank using ASBA or UPI within the issue window; the amount stays blocked in your account until allotment. BuyUnlistedShares does not take applications; it tracks the issue and the unlisted price before it.
Sources
- Draft red herring prospectus (DRHP), Ardee Industries · as filed with SEBI · sebi.gov.in
- Red herring prospectus (RHP), Ardee Industries · as filed · sebi.gov.in
- Registrar allotment page, Kfin Technologies Ltd. · allotment 10 Aug · ipostatus.kfintech.com
- NSE public issues page · listing 12 Aug · nseindia.com
- BSE public issues page · listing 12 Aug · bseindia.com
- Ardee Industries company website · ardeeindustries.com
- BuyUnlistedShares IPO record: GMP, subscription and allotment, dated daily · GMP as of 12 Aug, 04:05 · buyunlistedshares.com
How to cite this page: BuyUnlistedShares, “Ardee Industries IPO”, https://buyunlistedshares.com/ipo/ardee-industries-ipo, as of 30 Oct 2026.
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Indicative reference price, dated. BuyUnlistedShares is India's premium unlisted shares desk, run by Gayatri Financial Synergy LLP. Data as of 30 Oct 2026.
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- The risks of buying unlisted and pre-IPO shares in India
- Unlisted Shares Lock-In Period: What Every Investor Must Know (2026)
- What Happens to Your Unlisted Shares After the IPO? Lock-In Periods Explained
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