Ardee Industries Limited, a Delhi-headquartered secondary lead metal manufacturer, is set to launch its ₹425.87 crore mainboard IPO on August 5, 2026. The issue closes on August 7, 2026, with listing on both BSE and NSE expected on August 12, 2026.
The issue combines a fresh issue of ~₹320 crores with an offer for sale of up to 1,99,75,000 equity shares by existing shareholders.
Ardee Industries IPO: Key Dates
|
Event |
Date |
|
Anchor Bidding Date |
August 4, 2026 |
|
IPO Open Date |
August 5, 2026 |
|
IPO Close Date |
August 7, 2026 |
|
Basis of Allotment |
August 10, 2026 |
|
Refunds Initiated |
August 11, 2026 |
|
Credit to Demat Account |
August 11, 2026 |
|
Listing Date (BSE, NSE) |
August 12, 2026 |
Ardee Industries IPO: Issue Details
|
Particular |
Detail |
|
Face Value |
₹2 per equity share |
|
Price Band |
₹50 to ₹53 per share |
|
Total Issue Size |
~₹425.87 crores |
|
Fresh Issue |
~₹320 crores |
|
Offer for Sale |
Up to 1,99,75,000 equity shares |
|
Issue Type |
Book Building Issue |
|
Listing |
BSE, NSE |
Reservation is split 35% for retail, 50% for QIB, and 15% for NII/HNI.
Ardee Industries IPO: Lot Size
|
Application |
Lots |
Shares |
Amount |
|
Retail (Minimum) |
1 |
281 |
₹14,893 |
|
Retail (Maximum) |
13 |
3,653 |
₹1,93,609 |
|
S-HNI (Minimum) |
14 |
3,934 |
₹2,08,502 |
|
S-HNI (Maximum) |
67 |
18,827 |
₹9,97,831 |
|
B-HNI (Minimum) |
68 |
19,108 |
₹10,12,724 |
About Ardee Industries
Founded in 1993, Ardee Industries began as a trading company and has since evolved into a leading manufacturer and recycler of refined lead and lead alloys in India's secondary metals industry. Its product range includes high-purity lead and specialised alloys — lead calcium, lead antimony, lead tin, lead silver, and lead cadmium alloys — serving industries such as energy storage, e-mobility, automotive, and chemicals.
The company's manufacturing facility is located in Tirupati district, Andhra Pradesh, spanning approximately 7.61 acres, and it exports to markets including Singapore, Hong Kong, South Korea, Switzerland, the UAE, Japan, and the United States.
Objective of the Issue
|
Purpose |
Amount |
|
Funding incremental working capital requirements |
₹220.00 crores |
|
Repayment/prepayment of borrowings |
₹20.00 crores |
|
General corporate purposes |
Balance amount |
Financial Performance
|
Period |
Revenue |
Expense |
PAT |
Assets |
|
FY2024 |
₹463.39 Cr |
₹451.61 Cr |
₹8.95 Cr |
₹196.12 Cr |
|
FY2025 |
₹743.53 Cr |
₹698.88 Cr |
₹33.27 Cr |
₹262.06 Cr |
|
FY2026 |
₹1,168.88 Cr |
₹1,055.94 Cr |
₹84.68 Cr |
₹363.33 Cr |
The growth trajectory here is striking — revenue has grown roughly two and a half times from FY24 to FY26, while PAT has grown nearly tenfold over the same period, reflecting both scale expansion and improving margins tied to the energy storage and e-mobility demand for lead alloys.
Key Valuation Metrics (FY2026)
|
KPI |
Value |
|
ROE |
57.46% |
|
ROCE |
44.26% |
|
EBITDA Margin |
12.60% |
|
PAT Margin |
7.25% |
|
Debt to Equity Ratio |
1.25 |
|
Basic EPS |
₹3.32 |
|
RoNW |
57.46% |
|
Net Asset Value (NAV) |
₹5.78 |
While ROE and ROCE are exceptionally strong, it's worth noting the EBITDA and PAT margins are comparatively thin (typical of a metals trading/recycling business), and the debt-to-equity ratio of 1.25 is meaningful — relevant given ₹220 crore of the raise is earmarked for working capital rather than debt reduction or capacity expansion.
Peer Comparison
|
Company |
EPS |
P/E Ratio |
RoNW |
NAV |
Income |
|
Gravita India Limited |
52.02 |
35.37 |
15.43% |
332.16 |
₹4,265.27 Cr |
|
Pondy Oxides and Chemicals Limited |
43.98 |
31.94 |
16.73% |
258.39 |
₹2,958.36 Cr |
|
Jain Resources Recycling Limited |
10.25 |
33.57 |
22.25% |
45.24 |
₹9,543.11 Cr |
Ardee's own P/E isn't listed as "N/A" in the offer document, but its RoNW of 57.46% is meaningfully higher than all three listed peers shown — though these peers operate at a much larger income scale, making a direct comparison imperfect.
How To Apply for the IPO ?
-
Login or Open demat account with JM Financial Services / JM PRO app: Open the JM PRO app or JM Financial Services website and log in with your credentials.
- Locate the IPO Section: Navigate to the 'IPO' section on the platform.
- Select IPO: Find and select the IPO from the list of open IPOs.
- Enter the Lot Size: Specify the number of lots you want to bid for.
- Submit Your UPI ID: Enter your UPI ID to link your payment method and submit your application.
- Approve Funds: Once you receive the bid request on your UPI app, approve it by entering your UPI PIN.
How To Check the Allotment Status of the IPO?
Steps to check IPO allotment status on JM Pro app:
- Log in to the JM Pro app.
- Go to the IPO Section and then to IPO Orders.
- Select the individual IPO that you had applied for and check the allotment status.
JM Financial Services will notify you of your IPO allotment status via push notification and email
FAQs :-
Q1. What is the Ardee Industries IPO price band?
The price band is set at ₹50 to ₹53 per equity share.
Q2. When does the Ardee Industries IPO open and close?
The IPO opens on August 5, 2026, and closes on August 7, 2026.
Q3. What is the Ardee Industries IPO lot size?
The minimum lot is 281 shares, requiring an application amount of ₹14,893 at the upper price band.
