Ardee Industries Files Draft IPO Papers With SEBI With Fresh Issue Of Rs 320 Crore

Ardee Industries, a key player in the circular economy specialising in the recycling of energy storage products, has filed preliminary papers with the SEBI to launch an Initial Public Offering or an IPO. The offering comprises a fresh issue of equity shares worth Rs 320 crore and an Offer For Sale or an OFS of 3.76 crore equity shares by the promoters, according to the Draft Red Herring Prospectus submitted on Sunday.

The company, which focuses on the environmentally responsible recovery and recycling of end-of-life energy storage products and non-ferrous scrap, plans to allocate a significant portion of the fresh issue proceeds toward funding its working capital needs.

Specifically, Rs 220 crore will be earmarked for incremental working capital requirements, while Rs 22 crore will go towards repaying existing debt. The remaining amount will be utilized for general corporate purposes.

Ardee Industries' product portfolio includes pure lead and various lead alloys, such as lead-calcium, lead-antimony, and lead-tin, which are critical resources for industries spanning energy storage, e-mobility, automotive, and chemicals.

As of March 31, the company had established a strong domestic presence across 10 states and an international footprint across seven countries, including the United States, Japan, and Singapore, serving over 50 customers.

The company operates a manufacturing facility located in Andhra Pradesh with an installed capacity of 104,025 Million Tonnes Per Annum or MTPA. Pantomath Capital Advisors has been appointed as the book-running lead manager to manage the IPO process.

(With Inputs from PTI)