Ardee Industries IPO — Date, Price Band, GMP & Allotment 2026
Everything you need to know about the Ardee Industries IPO. Track the latest updates, GMP trends, and subscription status.
IPO Review
IPO GMP
IPO Subscription Subscription
IPO Summary
What is the Ardee Industries IPO Timetable?
Track the IPO schedule and key events.
| Event | Date | Day |
|---|---|---|
| IPO Open Date | 05 Aug, 2026 | Wednesday |
| IPO Close Date | 07 Aug, 2026 | Friday |
| Basis of Allotment | 10 Aug, 2026 | Monday |
| Refunds Initiated | 11 Aug, 2026 | Tuesday |
| Credit to Demat | 11 Aug, 2026 | Tuesday |
| Listing Date | 12 Aug, 2026 | Wednesday |
What is the Ardee Industries IPO Lot Size?
Bidding in multiples of 281 shares.
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (Min) | 1 | 281 | ₹14,893 |
| Retail (Max) | 13 | 3653 | ₹1,93,609 |
| S-HNI (Min) | 14 | 3934 | ₹2,08,502 |
| S-HNI (Max) | 67 | 18827 | ₹9,97,831 |
| B-HNI (Min) | 68 | 19108 | ₹10,12,724 |
About Ardee Industries
Its products include high-purity lead and special lead alloys such as lead calcium, lead antimony, lead tin, lead silver and lead cadmium. These are used in energy storage, e-mobility, automobile and chemical industries.
As on 31 March 2025, the company had served more than 50 customers in India and abroad, mostly in the battery and metals business. It has exported to seven countries, including Singapore, Hong Kong, South Korea, Switzerland, the UAE, Japan and the United States.
The company owns a factory of about 7.61 acres in Tirupati district of Andhra Pradesh. Its installed capacity is 1,04,025 MTPA. The plant has rotary furnaces, refining kettles, casting systems and pollution control equipment. It is certified under ISO 9001:2015 for quality, ISO 14001:2015 for environment, and ISO 45001:2018 for health and safety.
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Ardee Industries Key Performance Indicators (KPIs)
Objects of the Issue
| Issue Object | Estimate Amount |
|---|---|
| Funding incremental working capital requirement of the Company | ₹220.00 Cr. |
| Repayment and/or pre-payment, in full or in part, of certain borrowings availed by the Company | ₹20.00 Cr. |
| General Corporate Purposes |
Strengths & Risks
Strengths
- ✓ It is one of the leading Indian companies in the circular economy space, with a long track record of steady operations.
- ✓ The company uses hedging to protect itself from sharp changes in commodity prices.
- ✓ It has a strong customer base and is able to source raw material well.
- ✓ Profits have been consistent, and both revenue and profit have grown well in the last three years.
- ✓ The promoters are experienced and the company has a professional management team.
Risks
- ⚠ The whole business depends on lead. If lead prices or demand from battery makers fall, both revenue and profit will come down quickly.
- ⚠ Raw material is old batteries and scrap. Supply of this scrap is not fixed and its price keeps changing, so margins can move up and down.
- ⚠ Margins are thin. PAT margin was only 7.25% and EBITDA margin 12.60% in FY2026, even in a very good year.
- ⚠ Borrowings are still high at Rs 182.75 crore in FY2026. Only Rs 20 crore of the issue money will go towards repaying loans.
- ⚠ Lead recycling is a polluting activity. Any change in environment rules, or any action by the pollution control board, can stop work at the plant.
- ⚠ The company has only one factory, in Tirupati district of Andhra Pradesh. Any fire, breakdown or shutdown there will stop the entire production.
- ⚠ Growth in FY2026 was very sharp, with profit going up 155%. Such growth may not repeat every year.
- ⚠ Out of the Rs 425.87 crore issue, Rs 105.87 crore is offer for sale by the two promoters. That money goes to them and not to the company.
Company Financials
The Ardee Industries company's financial performance (in ₹ Cr.) is summarized below:
| Metric | 31 Mar 2026 | 31 Mar 2025 | 31 Mar 2024 |
|---|---|---|---|
| Assets | 363.33 | 262.06 | 196.12 |
| Total Income | 1,168.88 | 743.53 | 463.39 |
| Profit After Tax | 84.68 | 33.27 | 8.95 |
| EBITDA | 147.08 | 65.93 | 28.06 |
| NET Worth | 147.38 | 62.60 | 29.25 |
| Reserves and Surplus | 96.42 | 59.42 | 26.06 |
| Total Borrowing | 182.75 | 165.77 | 142.36 |
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IPO Reservation
| Investor Category | Reservation |
|---|---|
| QIB | Not more than 50% of the Offer |
| NII | Not less than 15% of the Offer |
| Retail | Not less than 35% of the Offer |
Promoters and Shareholding Details
Sandeep Aggarwal, Nikunj Aggarwal, Esha Gupta
Promoter and promoter group hold 23,31,25,700 shares, which is 91.48% of the pre-issue capital of 25,48,24,000 shares. In the offer for sale, Sandeep Aggarwal and Nikunj Aggarwal are each selling 99,87,500 shares worth about Rs 52.93 crore, making a total of 1,99,75,000 shares. After this sale and the fresh issue of 6,03,77,358 new shares, promoter holding will come down to 21,31,50,700 shares, which is 67.62% of the post-issue capital of 31,52,01,358 shares.
| Particular | % Share |
|---|---|
| Promoter Holding Pre Issue | 91.48% |
| Promoter Holding Post Issue | 67.62% |
Frequently Asked Questions
What is the GMP of Ardee Industries?
The current Grey Market Premium (GMP) of Ardee Industries is ₹ 16.
What is the Ardee Industries IPO Price Band?
The price band for Ardee Industries IPO is ₹50 to ₹53.
When is the Ardee Industries IPO Allotment?
The allotment date for Ardee Industries IPO is August 10, 2026.
How to check Ardee Industries IPO Allotment Status?
You can check the allotment status on the IPO Allotment Status page or on the registrar's website (KFin Technologies Limited).
Official Documents
Company Contact Details
Ardee Industries
Khasra No. 340, 1st Floor and 3rd Floor, Village Sultanpur, Mehrauli, Gadaipur, New Delhi 110030, Delhi, India
+91 11 4760 021
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