Ardee Industries IPO opens on August 5: 10 key things to know from the RHP before subscribing
Ardee Industries, engaged in recycling end-of-life energy products, plans an IPO from August 5-7, with a price band of ₹50-53 per share. The fresh issue aims to raise ₹320 crore for working capital and debt repayment, reflecting strong growth in sales and profits.
Ardee Industries IPO: Ardee Industries IPO opens for subscription on Wednesday, August 5, and will close on Friday, August 7. The ₹425.87 crore IPO has fixed the price band in the range of ₹50-53 per share.
Ahead of the issue opening, the company's shares were commanding a grey market premium (GMP) of ₹7.5, indicating a listing gain of ₹60.5, up 14.15% from the upper end of the price band of ₹53. However, GMP is an unofficial indicator and may not reflect the actual listing performance.
The public issue comprises a fresh issue and an offer for sale (OFS). Share allotment is likely to be finalised on August 10, while the stock is scheduled to debut on the NSE and BSE on August 12.
Here are 10 key things investors should know before subscribing to the issue.
1. IPO structure
The public issue comprises a fresh issue of 6.04 crore equity shares worth ₹320 crore and an offer for sale of 2 crore equity shares aggregating to ₹105.87 crore by existing shareholders.
2. Price band and lot size
Ardee Industries has fixed the IPO price band at ₹50-53 per share. Investors can apply in lots of 281 shares, taking the minimum investment for retail investors to ₹14,893 at the upper end of the price band.
3. Where will the IPO proceeds be used?
The company plans to utilise ₹220 crore from the fresh issue towards meeting its incremental working capital requirements and ₹20 crore for repayment or prepayment of certain borrowings. The remaining funds will be used for general corporate purposes.
4. About the company
Incorporated in 1993, Ardee Industries is engaged in the sustainable recovery and recycling of end-of-life energy storage products and non-ferrous scrap. It manufactures recycled lead, lead alloys and related products that are primarily supplied to battery manufacturers through its integrated recycling facility in Andhra Pradesh.
5. Strong financial growth
Ardee Industries reported robust financial growth in FY26. Revenue from operations increased 57% to ₹1,168.9 crore from ₹743.5 crore in FY25, while profit after tax jumped 155% to ₹84.7 crore from ₹33.3 crore a year ago.
The company also reported an EBITDA margin of 12.6% in FY26, while revenue has grown at a three-year CAGR of 58.81%, reflecting a sharp improvement in scale and profitability.
6. Manufacturing footprint
The company operates an integrated recycling facility in Andhra Pradesh, strategically located close to major battery manufacturers as well as Chennai, Kattupalli and Ennore ports, helping lower logistics costs and improve export efficiency.
As of March 31, 2026, Ardee Industries sold its products across 12 Indian states, while export revenue recorded a CAGR of 138.69% between FY24 and FY26.
7. Customer base
Ardee Industries primarily supplies recycled lead and lead alloys to battery manufacturers. According to the DRHP, Amara Raja Energy & Mobility is one of its key customers, alongside several other leading lead-acid battery manufacturers in India and overseas.
8. International presence
Besides its domestic operations, the company exports to customers across Singapore, Hong Kong, South Korea, Switzerland, the UAE, Japan, Saudi Arabia and the United States, highlighting its growing overseas presence.
9. Listed peers
According to the DRHP, the company's listed peers include Gravita India Ltd, Pondy Oxides and Chemicals Ltd, and Hindustan Zinc Ltd (lead business).
10. IPO timeline
The issue will remain open from August 5 to August 7, with allotment expected on August 10. Refunds and demat credit are likely to follow shortly thereafter, while the shares are tentatively scheduled to list on the NSE and BSE on August 12.
Disclaimer: This story is for educational purposes only. Please consult with an investment advisor before making any investment decisions.
About the Author
Pranati Deva is a seasoned financial journalist with over a decade of experience in high-pressure newsroom environments, currently working as a Senior Sub Editor at LiveMint. Over the years, she has developed a reputation for sharp editorial judgement, a strong grasp of market dynamics, and the ability to translate complex financial developments into clear, engaging stories for a wide audience. <br><br> Her core areas of coverage include stock markets, leading listed companies, currencies, and commodities, with a particular strength in fast-paced, real-time market reporting. She is known for handling breaking market news, earnings-driven stock movements, and macroeconomic developments with speed, accuracy, and context—qualities that are essential in financial journalism. <br><br> Pranati has built a diverse and credible professional track record across some of India’s most respected news organisations, including MintGenie, CNBC-TV18, Business Standard and EconomicTimes.com. During her stints at these platforms, she produced data-driven market stories, curated and steered live blogs during volatile trading sessions, and conducted interviews with market veterans, fund managers, economists, and industry experts. Her work often combines on-ground reporting with analytical depth, helping readers make sense of daily market fluctuations and longer-term trends. An alumnus of the Symbiosis Institute of Media and Communications and Hansraj College, University of Delhi, Pranati brings a strong academic foundation to her journalism. She specialises in real-time financial reporting, with a keen focus on precision, balance, and insight, aiming to decode market movements in a way that is both informative and accessible to readers across experience levels.
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