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HomeIPOArdee Industries

About Ardee Industries

Ardee Industries Limited is a leading Indian enterprise, which mainly specializes in the sustainable collection and recycling of energy storage products and non-ferrous scrap. Some of the Products offered by the Company include pure lead and alloys of lead such as Lead Calcium alloy, Lead Antimony alloy, Lead Tin alloy, Lead Silver alloy, and Lead Cadmium alloy. These products are used in many sectors, including energy storage sector, e-mobility sector, automotive industry, and chemical industry. As of March 31, 2025, the Company has served more than 50 customers in domestic and foreign markets in the batteries industry and metals industry. The Company has exported its products to 7 countries, namely Singapore, Hong Kong, South Korea, Switzerland, United Arab Emirates, Japan, and USA. The Company has a production plant located in Tirupati district, Andhra Pradesh on an area of 7.61 acres having a capacity of 104,025 MTPA. The production plant has modern recycling facilities for lead, which include rotary furnace, refining kettle, casting machine, and pollution control facility. The production plant is certified under ISO 9001:2015 (quality management), ISO 14001:2015 (environmental management), and ISO 45001:2018 (occupational health and safety).

Checklist Quality Analysis

Revenue Growth

Live IPOs

National Stock Exchange of India logo

National Stock Exchange of India

Mainboard
Open  Close17th Sep 2026 - 21st Sep 2026
Issue Size22561.57 Cr
Min. Qty8 Shares
Issue Price₹ 1700.00
Live IPO
Antala Industries logo

Antala Industries

SME
Open  Close29th Oct 2026 - 5th Nov 2026
Issue Size22.98 Cr
Min. Qty2000 Shares
Issue Price₹ 62.00
Live IPO
Companies NameOpen - CloseIssue SizeMin. QtyIssue PriceApply
National Stock Exchange of India logo

National Stock Exchange of India

Mainboard
17th Sep 2026 - 21st Sep 202622561.57 Cr8 Shares₹ 1700.00
Antala Industries logo

Antala Industries

SME
29th Oct 2026 - 5th Nov 202622.98 Cr2000 Shares₹ 62.00
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Ardee Industries

Ardee Industries

Open Date

Aug 5, 2026

Close Date

Aug 7, 2026

listed

Min Investment

₹14,893

Lot Size

281 Shares

Issue Size

₹425.87 Cr

Price Range

₹50 - ₹50

Listing Date

Aug 12, 2026

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RHP PDF

Company Valuation

Earning Expansion

The investment checklist helps you understand a company's financial health at a glance and identify quality investment opportunities easily.

₹17(+32.08%)GMP
32.08%Prediction Listing Gain

Grey Market Premium (GMP) Trend

Ardee Industries IPO - Issue Objectives

The company will use ₹20 crore fund for repayment of certain borrowings availed by the company. 220 crore will be used to fund incremental working capital requirements. Part of the IPO proceeds will be used for general corporate purposes and issue expenses

Repayment of debts

6.2%

Working capital

68.7%

General corporate purposes

25%

1

Repayment of debts

The company will use ₹20 crore fund for repayment of certain borrowings availed by the company.

6.20%
2

Working capital

220 crore will be used to fund incremental working capital requirements.

68.70%
3

General corporate purposes

Part of the IPO proceeds will be used for general corporate purposes and issue expenses

25.00%

IPO Subscription Status

QIB
202.26x
NII
266.75x
Individual
47.77x
Total
138.83x

Times subscribed by category (bars capped at 10x for readability). Dashed line marks 1.0x (fully subscribed).

Financials of Ardee Industries

In Cr.

About Strength & Risks

Why this IPO looks interesting

Key positives investors may want to consider before applying.

01

Capacity increased threefold

The company’s capacity has been increased threefold to 1,56,950 MTPA since 2021, owing to its strategically positioned manufacture near the port, which ensures that the company’s supply chain is reliable in terms of importing material.

02

Margin protection via hedging strategy

A two-way hedging strategy, which includes back-to-back pricing and LME futures hedge of 60% to 100%, protects the company’s margins from lead price fluctuation.

03

Consistent repeat customers

The repeat customers contributed 85.8% to Ardee’s total revenue in FY26, whereas exports have grown at a CAGR of 138.6% over 8 countries because of its LME-listed brand.

04

What investors should watch closely

Risk factors and possible pressure points around the offer.

01

Customer concentration risk

The leading customer constituted 40.6% of the FY26 revenues, whereas the top ten customers represented 91.6% of the total revenue; any loss of a big customer would have a significant impact on the revenues of the company.

02

End-use industry concentration

84.7% of FY26 revenues were from battery and metal industries. The company is vulnerable to changes in these industries or their switch to lithium-ion technology.

03

Contact Details

Ardee Industries

Khasra No. 340, 1st Floor and 3rd Floor, Village Sultanpur, Mehrauli, Gadaipur, Delhi, New Delhi, 110030

+91114760021
cs@ardeeindustries.com
https://ardeeindustries.com/

Ardee Industries IPO - FAQs

Ardee Industries IPO is a Mainboard IPO. The issue is priced at 50-₹53. The minimum order quantity is 281 Shares. The IPO opens on 5 Aug, and closes on 7 Aug. TBA is the registrar for the IPO. The shares are proposed to be listed on BSE, NSE.








IPO Timeline

  • Pre Apply2026-08-03
  • Bidding Starts2026-08-05
  • Bidding Ends2026-08-07
  • Allotment Finalisation2026-08-10
  • Release of Funds2026-08-11
  • Demat Transfer2026-08-11
  • Listing2026-08-12

Promoters & management team

Promoters have 40+ years of experience in the industry, supported by a management team with 48+ years of experience in finance, compliance and IPO execution.

Dependency on imports

86.9% of FY26 purchases of raw materials were imported, with no long-term supplier agreements, hence exposure to foreign exchange movements and volatility in international prices for scrap materials.

04

Debt financing & leverage risk

Total borrowings as on June 30, 2026 stood at ₹182.07 crore with restrictive covenants on borrowings which restrict the company’s freedom in the payment of dividends, restructuring and asset charges.

05

Geographic risk

40.8% of FY26 revenues from operations were generated from Andhra Pradesh as compared to 74.1% in FY24; hence domestic sales were highly concentrated in one state.