The Ardee Industries IPO is one of the upcoming mainboard IPOs in India's diversified metals and recycling sector. The company has filed a Book Build Issue comprising a fresh issue worth ₹320 crore along with an Offer for Sale (OFS) of 3.77 crore equity shares.
Although the company has not yet announced the IPO dates, price band, lot size, or total issue size, investors are closely tracking the Ardee Industries IPO GMP, subscription status, and allotment updates. The IPO proceeds from the fresh issue will primarily be used for working capital requirements, debt repayment, and general corporate purposes.
Strong position in India's circular economy and battery recycling industry.
Large integrated lead recycling facility.
Well-diversified domestic and export customer base.
Commodity price risk managed through hedging mechanisms.
ISO-certified manufacturing operations.
Experienced promoters and professional management team.
Consistent revenue and profitability growth.
Financial Performance
Ardee Industries has reported strong financial growth over the last three financial years.
Financials (₹ Crore)
FY25
FY24
FY23
Assets
262.06
196.12
108
Revenue
743.53
463.39
411.84
EBITDA
65.93
28.06
22.76
Profit After Tax
33.27
8.95
8.57
Net Worth
62.6
29.25
20.22
Borrowings
165.77
142.36
80.91
Key Financial Highlights
Revenue increased nearly 60% YoY in FY25.
PAT jumped to ₹33.27 crore from ₹8.95 crore.
EBITDA margin improved to 8.88%.
ROE stood at an impressive 72%.
RoNW reached 53.15%.
IPO Objectives
The company proposes to utilize the net proceeds towards:
Purpose
Amount (₹ Crore)
Working Capital Requirements
220
Debt Repayment / Prepayment
22
General Corporate Purposes
Remaining Amount
Ardee Industries IPO GMP
As of 25 July 2026, the Ardee Industries IPO GMP stands at ₹0.
GMP Date
IPO Price
GMP
Estimated Listing Price
Estimated Profit
25 July 2026 (10:00 am)
₹-
₹-
₹-
-
Note: Since the price band has not yet been announced, the expected listing price cannot be estimated.
Ardee Industries IPO Subscription Status
The Ardee Industries IPO will open for subscription from to be announce.
Current Subscription: -
Category
Subscription
QIB
-
NII
-
S-NII
-
B-NII
-
Retail
-
Total
-
Subscription data will be updated once bidding begins.
Ardee Industries IPO Day-wise Subscription Trend
subs. Date
QIB
NII
S-NII
B-NII
Retail
Total
-
-
-
-
-
-
-
What is current subscription data for Ardee Industries IPO?
The current subscription data is updated in report by the total number of offering compare with total shares bid in each category for Ardee Industries IPO. Numbers are calculated from BSE, NSE data.
Category
Shares Offered
Shares Bid
Bid Amount (₹ Cr)
QIB
-
-
-
NII
-
-
-
-- Small NII
-
-
-
-- Big NII
-
-
-
RII
-
-
-
Total
-
-
-
Key Performance Indicators
KPI
FY25
ROE
72%
ROCE
25.17%
RoNW
53.15%
PAT Margin
4.48%
EBITDA Margin
8.88%
Peer Comparison
Company
ROE
ROCE
Gravita India
15.12%
—
Pondy Oxides & Chemicals
9.79%
—
Ardee Industries
72.00%
25.17%
About Ardee Industries (Business Overview)
Ardee Industries Limited is an Indian diversified metals recycling company focused on the sustainable recovery and recycling of end-of-life batteries and non-ferrous metal scrap. The company manufactures high-purity lead and customized lead alloys catering to industries such as automotive, energy storage, e-mobility, chemicals, and industrial manufacturing.
Its manufacturing facility, spread across 7.61 acres in Tirupati, Andhra Pradesh, has an installed recycling capacity of 104,025 MTPA. The plant features advanced rotary furnaces, refining kettles, automated casting systems, and pollution-control infrastructure.
The company exports products to countries including the United States, Japan, UAE, Singapore, South Korea, Switzerland, and Hong Kong, while serving more than 50 domestic and international customers.
Risks to Consider
High dependence on lead prices and commodity cycles.
Business is subject to environmental and pollution regulations.
Significant borrowings remain on the balance sheet.
Export demand and foreign exchange fluctuations may affect earnings.
IPO valuation cannot be assessed until the price band is announced.
Should You Invest in Ardee Industries IPO?
Ardee Industries operates in the fast-growing battery recycling and non-ferrous metals industry, supported by increasing demand from electric vehicles, renewable energy storage, and industrial applications. The company has demonstrated strong revenue growth, improving profitability, and excellent return ratios while maintaining a diversified export business.
However, investors should wait for the announcement of the price band, valuation, and subscription response before making an investment decision. Tracking the Ardee Industries IPO GMP, financial metrics, and peer valuation will provide a better picture of its listing potential.
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Summary
Ardee Industries is entering the capital markets with a fresh issue aimed at strengthening working capital and reducing debt. The company has built a strong presence in the lead recycling and sustainable metals segment, backed by growing exports and improving financial performance. While the IPO fundamentals appear encouraging, investors should monitor the final issue price, valuation, GMP trend, and subscription demand before investing.
FAQs
What is the Ardee Industries IPO?
It is a mainboard Book Build IPO comprising a ₹320 crore fresh issue and an Offer for Sale of 3.77 crore shares.
What is the Ardee Industries IPO price band?
The company has not announced the price band yet.
What is the Ardee Industries IPO GMP today?
The latest Grey Market Premium (GMP) is ₹0.
What are the IPO dates?
The opening and closing dates are yet to be announced.
What is the registrar of the IPO?
Kfin Technologies Ltd.
What will the IPO proceeds be used for?
The proceeds will fund working capital requirements, debt repayment, and general corporate purposes.
Is Ardee Industries profitable?
Yes. The company reported ₹33.27 crore PAT in FY25 compared with ₹8.95 crore in FY24.
Where will Ardee Industries IPO list?
The shares are proposed to be listed on BSE and NSE.
Sources
Draft Red Herring Prospectus (DRHP) of Ardee Industries Ltd.
The GMP (Grey Market Premium) mentioned above is unofficial and may change frequently. It should not be considered a guarantee of listing gains or investment returns. Investors should read the DRHP/RHP carefully and consult a qualified financial advisor before investing in any IPO.
Author: Komal Bhatt
Komal Bhatt is a finance content writer at InvestKraft, specialising in well-researched articles on financial products, stock markets, and investment opportunities, with a particular focus on unlisted shares.
She holds a Master’s degree in Commerce from the University of Delhi, which gives her a solid academic foundation in finance and business. With over three years of hands-on experience in creating digital finance content, Komal has developed a clear understanding of investor needs through her work on wealth management, NISM certification programs, and market education materials.
Komal is passionate when it comes to breaking down complex financial concepts into simple, accurate and actionable insights. Her goal is to help everyday investors understand markets better and make more informed decisions based on reliable, research-backed information.
amit@unlistedkraft.in
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+91-9599071664
+91-9599071664
amit@unlistedkraft.in