Ardee Industries IPO opens today: GMP signals 15% listing premium; check price band, dates and key details

The Rs 425.87 crore Ardee Industries IPO will open for subscription today, August 5, with strong buzz in the grey market indicating healthy investor appetite ahead of the issue.

The IPO is currently commanding a 15% grey market premium (GMP) over its upper price band of Rs 53 per share, raising expectations of a positive stock market debut if the momentum sustains.

The company has fixed the price band at Rs 50–53 per share, offering investors an opportunity to participate in a business focused on lead recycling and non-ferrous metals, a segment that plays an important role in metal recovery and industrial supply chains.


The public issue comprises a fresh issue of 6.04 crore shares worth Rs 320 crore and an offer for sale (OFS) of 2 crore shares valued at Rs 105.87 crore, taking the total IPO size to Rs 425.87 crore.

The subscription window will remain open from August 5 to August 7, 2026. The basis of allotment is expected to be finalized on August 10, while the company's shares are likely to make their stock market debut on the NSE and BSE on August 12, 2026.

IPO Objectives: Utilisation of Funds

The proceeds from the Ardee Industries IPO will be directed towards strengthening the company’s balance sheet and supporting its future expansion initiatives. The company intends to deploy Rs 220 crore towards fulfilling its growing working capital requirements and Rs 20 crore towards the repayment or pre-payment of select borrowings. The balance amount will be utilised for general corporate purposes, taking the overall utilisation of IPO proceeds to Rs 240 crore.

About Ardee Industries

Founded in 1993, Ardee Industries Limited operates in the sustainable recovery and recycling of end-of-life energy storage products and non-ferrous scrap. The company focuses on manufacturing high-purity lead and specialised lead alloys, including lead calcium, lead antimony, lead tin, lead silver, and lead cadmium variants.

Its product portfolio serves multiple industries, including energy storage, electric mobility, automotive, and chemical sectors.

As of March 31, 2025, Ardee Industries catered to over 50 customers across domestic and international markets, with a strong presence in the battery and metals industries. The company has also expanded its global footprint by exporting products to seven countries, including Singapore, Hong Kong, South Korea, Switzerland, the United Arab Emirates, Japan, and the United States.

The company’s manufacturing facility is located across approximately 7.61 acres in Tirupati district, Andhra Pradesh. With an installed production capacity of 104,025 metric tonnes per annum (MTPA), the facility is equipped with modern recycling infrastructure, including rotary furnaces, refining kettles, casting systems, and advanced pollution control mechanisms.

The facility is certified with internationally recognised standards such as ISO 9001:2015 for quality management, ISO 14001:2015 for environmental management, and ISO 45001:2018 for occupational health and safety management.

Robust Financial Performance

Ardee Industries has demonstrated strong financial growth in recent years. In FY 2025-26, the company’s total income increased by 57% to Rs 1,168.9 crore, compared with Rs 743.5 crore in the previous fiscal year.

The company also witnessed a significant improvement in profitability, with Profit After Tax (PAT) surging 155% to Rs 84.7 crore, up from Rs 33.3 crore in FY 2024-25.

IPO Management Details

Pantomath Capital Advisors Private Limited has been appointed as the book running lead manager for the IPO, while KFin Technologies Limited is serving as the registrar to the issue.

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