The initial public offering (IPO) of Ardee Industries Limited received a strong response from investors on the first day of bidding.
The IPO was fully subscribed within just two hours of opening on August 5, 2026.
According to NSE data, the issue received bids for 5.87 crore shares against the 5.84 crore shares available.
The IPO will remain open for investors until August 7, 2026.
Ardee Industries IPO Subscription Status
The IPO received good interest from retail investors and non-institutional investors.
As of 12:35 PM on the first day:
Retail Individual Investors (RII): Subscribed 1.23 times
Non-Institutional Investors (NII): Subscribed 1.34 times
Qualified Institutional Buyers (QIB): Subscribed 0.35 times
The QIB portion received a slower response compared to other investor categories.
Ardee Industries IPO Details
Ardee Industries IPO is a book-built issue worth Rs 425.87 crore.
The issue includes:
Fresh issue: Rs 320 crore through 6.04 crore new shares
Offer for Sale (OFS): Rs 105.87 crore through 2 crore shares
The company has fixed the IPO price band at Rs 50 to Rs 53 per share.
For retail investors, the minimum application size is 281 shares, which requires an investment of around Rs 14,893 at the upper price band.
The shares are proposed to be listed on both BSE and NSE on August 12, 2026, after completing the IPO process.
Important IPO Dates
| Event | Date |
|---|---|
| IPO Opens | August 5, 2026 |
| IPO Closes | August 7, 2026 |
| Share Allotment | August 10, 2026 |
| Refund Date | August 11, 2026 |
| Share Credit | August 11, 2026 |
| Listing Date | August 12, 2026 |
Investor Reservation Details
The IPO shares have been divided among different investor categories:
Qualified Institutional Buyers (QIBs): 50%
Non-Institutional Investors (NIIs): 15%
Retail Investors: 35%
Ardee Industries Financial Performance
Ardee Industries has shown strong growth in its financial performance.
In FY26:
Total income increased by 57% to Rs 1,168.88 crore from Rs 743.53 crore in FY25.
Profit after tax (PAT) jumped 155% to Rs 84.68 crore from Rs 33.27 crore.
EBITDA increased to Rs 147.08 crore from Rs 65.93 crore.
The company’s total assets also increased to Rs 363.33 crore, while its net worth rose to Rs 147.38 crore.
However, total borrowings increased to Rs 182.75 crore during FY26 compared to Rs 165.77 crore in the previous year.
What Does Ardee Industries Do?
Founded in 1993, Ardee Industries works in the recycling and recovery of end-of-life energy storage products and non-ferrous scrap.
The company manufactures high-purity lead and specialised lead alloys used in industries such as:
Energy storage
Electric mobility
Automotive
Chemicals
Its products include lead calcium, lead antimony, lead tin, lead silver, and lead cadmium alloys.
As of March 31, 2025, the company had served more than 50 customers across domestic and international markets, mainly in the battery and metals industries.
IPO Manager and Registrar
Pantomath Capital Advisors Pvt. Ltd. is the book-running lead manager for the IPO.
KFin Technologies Ltd. has been appointed as the registrar for the issue.
With strong investor interest on the opening day and improving financial performance, Ardee Industries IPO has attracted attention from market participants.
Investors will now closely track subscription numbers until the issue closes on August 7.
