Ardee Industries, a specialist in recycling end-of-life energy storage products and non-ferrous scrap, has announced that its initial public offering (IPO) will open for subscription on Wednesday, August 5, 2026. The company has set the price band for the issue at Rs 50 to Rs 53 per equity share.
IPO Subscription Dates and Details
The IPO will be available for subscription from August 5 to August 7, 2026. Anchor investors will have their allocation finalized on August 4, 2026. Ardee Industries plans to raise Rs 426 crore through this public issue. The lot size for the IPO has been fixed at 281 equity shares, with subsequent bids in multiples thereof.
Share allotment is anticipated to be finalized by August 10, 2026, and the company's shares are slated for listing on the stock exchanges on August 12, 2026. This IPO marks the first mainboard public issue to open in August 2026, following a period where public issues worth over Rs 51,000 crore were launched between January and July 2026.
Issue Reservation and Management
The issue's allocation includes 50 percent for qualified institutional buyers (QIBs), 35 percent for retail investors, and 15 percent for non-institutional investors. Pantomath Capital Advisors is serving as the sole book-running lead manager for the IPO, while KFin Technologies Ltd has been appointed as the registrar.
Promoters Sandeep Aggarwal and Nikunj Aggarwal will each offer 99.87 lakh shares through the offer for sale component of the IPO.
Utilization of Funds
Ardee Industries intends to utilize Rs 220 crore from the net fresh issue proceeds to meet its incremental working capital requirements. An additional Rs 20 crore will be allocated towards debt repayment, with the remaining funds earmarked for general corporate purposes.
Company Profile and Financial Performance
Ardee Industries operates with an installed recycling capacity of 1,56,950 MTPA. Its product portfolio, including pure lead and lead alloys, caters to critical sectors such as energy storage, e-mobility, automotive, and chemicals.
The company demonstrated strong financial growth for the fiscal year ended March 2026, reporting a profit of Rs 84.7 crore. This represents a substantial 154.5 percent increase from Rs 33.3 crore in the previous year. Revenue also saw significant growth, rising 57.2 percent to Rs 1,167.7 crore from Rs 742.7 crore during the same period.
Ardee Industries filed its draft papers with the Securities and Exchange Board of India (SEBI) in September 2025 and secured regulatory clearance for the IPO in February 2026.