Ardee Industries IPO Day 3 LIVE: GMP, subscription status to review. Apply or not?
Ardee Industries IPO GMP today: According to Investorgain, the company shares are available at a premium of ₹15 in the grey market today
Ardee Industries IPO Day 3 LIVE: The initial public offering (IPO) of Ardee Industries Ltd hit the Indian primary market on 5 August 2026. The public issue proposed for listing on the BSE and the NSE will remain open until 7th August 2026. So, investors have just one day to apply for the book-building issue. The company management has offered Ardee Industries shares at a price band of ₹50 to ₹53 per equity share.
The company aims to raise ₹426 crore, which means the Ardee Industries IPO size is ₹426 crore. The public issue is a mix of fresh shares and Offer for Sale (OFS). The company aims to raise ₹320 crore through the issuance of fresh shares, while the remaining ₹106 crore is reserved for the OFS. Meanwhile, the company's shares have risen in the grey market. In the last two days, the premium on the company's shares has risen from ₹7 to ₹15 in the grey market.
Ardee Industries IPO GMP today
According to Investorgain, the company shares are available at a premium of ₹15 in the grey market today. This means Ardee Industries' IPO GMP (Grey Market Premium) today is ₹15, up from ₹7 two days ago. So, Ardee Industries IPO GMP has risen from ₹7 to ₹15 in the last two days. Market observers believe that positive sentiment in the secondary market and strong Ardee Industries IPO subscription status could be behind the more than 100% appreciation in the grey market premium on the company's stock.
Ardee Industries IPO subscription status
By 4:18 PM on day 3 of bidding, the public issue had been booked 132.89 times, the retail portion had been subscribed 44.36 times, whereas the NII segment had been filled 254.79 times. The QIB portion had been subscribed to 197.77 times.
Ardee Industries IPO review
Whether Ardee Industries IPO is good or bad for investors, BP Equities says, "Considering its integrated business model, improving financial profile and attractive valuation relative to peers, we recommend a "SUBSCRIBE" rating for the issue with a long-term investment horizon."
Marwadi Shares & Finance has also assigned a ‘subscribe’ tag to the public issue, saying, "Considering the FY26 EPS of ₹2.69 on a post-issue basis, company is set to list at a P/E of approximately ~20x with a market cap of ₹1,670 cr whereas its peers namely Gravita India Ltd, Pondy Oxides and Chemicals Ltd and Jain Resources Recycling Ltd are trading at P/E ratio of approximately ~30x, ~29x, ~33x respectively. We assign a "Subscribe (With Caution)" rating to this IPO, as the company is one of India's leading players in the circular economy and is supported by a reasonable valuation relative to its peers. However, high client concentration (with the top five clients contributing 82% of revenue), weak cash conversion, and elevated debt levels make us cautious from a long-term investment perspective."
Canara Bank Securities, Choice Broking, SBI Capital Securities, Sushil Financial Services, Swastika Investmart, and Ventura Securities have also assigned a ‘subscribe’ tag to the public issue.
Ardee Industries IPO details
The anchor book of the public issue saw participation from Bank of India Mutual Fund, Bengal Finance & Investment Pvt. Ltd. (led by Ashish Kacholia), Winro Commercial (India) Ltd. (led by Rohit Kothari), The Wealth Company Alternates Trust, India Max Investment Fund Ltd., Cognizant Capital Dynamic Opportunities Fund, IMAP India Capital Investment Trust, and Catalyst New India Fund.
According to the tentative schedule, the Ardee Industries IPO allotment is likely to be finalised on Monday, August 10. Refunds are expected to be initiated on Tuesday, August 11, while shares will be credited to the demat accounts of successful applicants on the same day. The Ardee Industries share price is scheduled to be listed on the BSE and NSE on Wednesday, August 12.
Disclaimer: This story is for educational purposes only. The views and recommendations above are those of individual analysts or broking companies, not Mint. We advise investors to check with certified experts before making any investment decisions.
About the Author
Asit Manohar has nearly two decades of experience in the mainstream media. In this period, he has served esteemed media organisations like NDTV Profit, The Economic Times, and Zee Business. He has been working at LiveMint Digital since April 2021. During these two decades of journey in mainstream media, Asit has mainly covered external affairs, markets and personal finance. However, his earliest beats include railways, SME, MSME, and politics (Congress beat). Some of his features on political, economic, and foreign policy are documented in the parliamentary records. <br><br> While pursuing his MA (Mass Communication, Session 2004-06), Asit began his media career as a stringer at All India Radio in Varanasi. At AIR Varanasi, Asit worked with the Gyanvani, Yuvvani and Vividh Bharti teams. After working for nearly one year at AIR Varanasi, he shifted to print journalism and started working as a stringer for the HT Media Ltd, Varanasi. At HT Media Ltd in Varanasi, he covered the BHU beat. <br><br> Asit has also worked with some brokerage houses. He has worked with Religare Broking and India Infoline, where he assisted the research team in developing and executing trade strategies for intraday cash, F&O, and commodities. <br><br> Asit is a Gold Medalist in MA (Mass Communication) from BHU, Varanasi. He did his BSc. (Hons) in Mathematics from Magadh University, Bodh Gaya. Asit was a National Talent Scholarship holder during his senior secondary studies (1988-91).
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