Ardee Industries IPO

About Ardee Industries IPO

The public issue of the Ardee Industries IPO, a Mainboard IPO, opens on Wednesday, August 5, 2026 and closes on Friday, August 7, 2026. The allotment of shares will take place on Monday, August 10, 2026. The credit of shares to the demat account will take place on Tuesday, August 11, 2026 . The initiation of refunds will take place on Tuesday, August 11, 2026. The listing of shares will take place on Wednesday, August 12, 2026.

The equity shares offered through the IPO are proposed to be listed on the BSE and the NSE.

The offer consists of both a fresh issue and an offer for sale component. The fresh issue will include 6,03,76,950 shares aggregating up to ₹320 crores. The offer for sale portion includes 1,99,75,000 shares of ₹2 aggregating up to ₹106 crores. The total number of shares and aggregate amount are 8,03,51,950 shares aggregating up to ₹426 crores.

Ardee Industries IPO’s price band is set at ₹50 to ₹53 per share. The lot size for an application is 281 shares. The minimum amount of investment required by a retail individual investor is ₹14,893 (281 shares) (based on upper price).

Ardee Industries is one of India’s leading players in the circular economy, specializing in the environmentally responsible recovery and recycling of end-of-life energy storage products and non-ferrous scrap, while reclaiming critical resources from waste streams.

Objectives of Ardee Industries IPO

• Funding incremental working capital requirement of the company.
  
• Repayment and/or pre-payment, in full or in part, of certain borrowings availed by the company.
  
• General corporate purposes.
  

Industry Outlook

The Government of India is placing greater emphasis on promoting the recycling industry through initiatives such as Extended Producer Responsibility (EPR), Battery Waste Management (BWM) Rules, Plastic Waste Management Rules (PWMR), and measures to encourage organised scrap generation and recycling. The Recycled Lead Ingots market in India is a crucial part of the country’s nonferrous metals and circular economy landscape. Over 80% of India's lead demand is met through secondary (recycled) lead primarily derived from used lead - acid batteries (ULABs). India’s lead recycling ecosystem comprises both organized and unorganised sector.

India’s recycled lead production in FY 2026 stood at 0.15 crore tonnes. India’s Recycled Lead Ingot market was valued at INR 30,933 crores in FY 2026 mainly driven by the applications of lead acid battery in the automotive sector, Inverter and UPS, Telecom, data centres, energy storage applications in renewable energy sector such as solar power backups and other segments such as Cable Sheathing, PVC Stabilizers, pigments etc. The government's regulatory push to bring a larger part of the ecosystem into the organised sector, through the implementation of the Battery Waste Management Rules, 2022, and EPR mandates, is expected to improve traceability and accountability, supporting the growth of the sector.

About Ardee Industries

Ardee Industries is one of India’s leading players in circular economy, specializing in the environmentally responsible recovery and recycling of end-of-life energy storage products and non-ferrous scrap, while reclaiming critical resources from waste streams. Their product portfolio comprises pure lead and lead alloys such as lead calcium alloys, lead antimony alloys, lead tin alloys, lead silver alloys and lead cadmium alloys which find applications in critical industries including energy storage, e-mobility, automotive, chemical, among others.

Strengths of Ardee Industries

• One of India’s leading players in the circular economy with a proven track record with demonstrated operational stability.
• Application of hedging mechanism for commodity price risk related protection.
• Strong customer base along with robust raw materials sourcing capabilities.
• Track record of profitability and consistent financial performance.
• Experienced promoters and professional management team.

Risks of Ardee Industries

• The loss of any of their top customers could have a material adverse effect on their business, financial condition, results of operations and cash flows.
• Any downturn in the demand of battery and metal industries and the other industries in which their customers operate, could adversely affect their business, etc.
• They depend on third party suppliers for the supply of raw material required for their business operations.
• They have a limited operating history, and their historical performance may not be indicative of their future growth or financial results.
• A high debt-to-equity ratio may adversely affect their financial condition and results of operations.
• They operate in a labour-intensive industry and are dependent on contract labour for their manufacturing operations.

Anchor Investor Bidding Date

Tuesday, August 04, 2026

Registrar and Book Running Lead Manager

Registrar Details
KFin Technologies Limited
Email: ardeeindustries.ipo@kfintech.com
Tel: +91 40 6716 2222/ 1800 309 4001

Book Running Lead Manager
Pantomath Capital Advisors Private Limited

Ardee Industries Contact Details
Khasra No. 340, 1st Floor and 3rd Floor, Village Sultanpur,
Mehrauli, Gadaipur, Delhi, New Delhi, 110030.
Email: cs@ardeeindustries.com
Phone: +91 11 4760 021

Ardee Industries Business Model

The company earns its revenue through specializing in the environmentally responsible recovery and recycling of end-of-life energy storage products and non-ferrous scrap, while reclaiming critical resources from waste streams.

Ardee Industries Growth Trajectory

Ardee Industries’s Total Income for FY26 was ₹1168.88 crores, whereas in FY25 and FY24 it was ₹743.53 crores and ₹463.39 crores, respectively.

The Profit After Tax for FY26 was ₹84.68 crores, whereas in FY25 and FY24 it was ₹33.27 crores and ₹8.95 crores, respectively.

Their EBITDA for FY26 was ₹147.08 crores, whereas in FY25 and FY24 it was ₹65.93 crores and ₹28.06 crores, respectively.

Ardee Industries Market Position

As of March 31, 2026, the company has served more than 50 customers across diverse industries including battery and metal, both in the domestic and international markets.

As of 31 March 2026, the company’s Total Income, Profit After Tax, and EBITDA were ₹1168.88 crores, ₹84.68 crores, and ₹147.08 crores, respectively.

How to apply for Ardee Industries IPO?

• Step 1: Log in to your Kotak Neo Demat account to access IPO investments. Next, select the current IPO section.
• Step 2: Specify IPO details. Enter the number of lots and the price you wish to apply for.
• Step 3: Enter UPI ID. After entering your UPI ID, click submit. This will place your bid with the exchange.
• Step 4: Mandate Notification. Your UPI app will receive a mandate notification to block funds.
• Step 5: Approve Request. Your funds will be blocked once you approve the mandate request on your UPI.