Ardee Industries IPO listing: Ardee Industries' share price debuted on a positive note on Wednesday, 12 August, listing at a 39% premium on the BSE and a 36% premium on the NSE.
Ardee Industries shares were listed at ₹73.60 on the BSE, a 38.87% premium over the issue price of ₹53. On the NSE, the stock was listed at ₹72, up 35.85% from the issue price.
However, the stock saw some profit-booking soon after listing, dragging it down to ₹68.07 on the BSE and ₹68.11 on the NSE.
According to grey market sources, the stock's healthy listing exceeded expectations, with the grey market premium (GMP) on Ardee Industries shares at its highest level of ₹17 on Wednesday morning, indicating the stock could list at a 32% premium.
Ardee Industries IPO details
Ardee Industries IPO was a book-build issue of ₹425.87 crore, combining a fresh issue of 6.04 crore shares to raise ₹320 crore, and an offer for sale (OFS) of 2 crore shares, aggregating to ₹105.87 crore.
The company intends to use the net proceeds from the fresh issue of shares to fund incremental working capital requirements, payment of certain borrowings, and for general corporate purposes.
The IPO opened for subscription on Wednesday, 5 August, and concluded on Friday, 7 August, with a healthy subscription of 139 times. Share allotment was finalised on Monday, 10 August. The IPO price was ₹53 per share.
Ardee Industries specialises in the environmentally responsible recovery and recycling of end-of-life energy storage products and non-ferrous scrap, while reclaiming critical resources from waste streams.
For FY24, the company's revenue from operations stood at ₹462.96 crore, which increased to ₹742.74 crore in FY25, and to ₹1,167.65 crore in FY26. Profit in FY24, FY25, and FY26 were ₹8.95 crore, ₹33.27 crore, and ₹84.68 crore, respectively.
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