Ardee Industries IPO closed with overwhelming investor demand, receiving 133.66x subscription on the final day. Meanwhile, the latest grey market premium (GMP) indicates a potential listing premium of about 28% ahead of allotment.
Here's everything investors need to know ahead of allotment and listing
Ardee Industries IPO GMP Today
According to InvestorGain, Ardee Industries IPO's latest GMP stands at Rs 15 on Aug. 7. Based on the upper price band of Rs 53 per share, the estimated listing price is Rs 68 (cap price + GMP). This indicates an estimated listing premium of Rs 15 per share (around 28.3%).
GMP reflects the premium at which IPO shares trade in the unofficial grey market before listing. It does not guarantee listing gains.
ALSO READ: LEAP India vs Technocraft Ventures IPO GMP: Which IPO Offers Better Listing Potential?
Ardee Industries IPO Subscription Status
The IPO was subscribed 133.66 times on Friday. Against 5.84 crore shares on offer, the IPO has received bids for over 780.8 crore shares. The Retail Individual Investor (RII) segment was subscribed 45.71 times. Meanwhile, the Qualified Institutional Buyers (QIBs) portion, excluding anchor investors, was subscribed 197.77 times. The Non-Institutional Investors portion was booked 255.24 times.
The IPO also attracted anchor investor interest ahead of opening, with ace investor Ashish Kacholia participating in the anchor book.
ALSO READ: Ardee Industries IPO: Ace Investor Ashish Kacholia Buys 20% Of Anchor Book Ahead Of Issue
Ardee Industries IPO Allotment and Listing Date
The share allotment status for the Ardee Industries IPO is expected to be finalised on Monday, Aug. 10, with a tentative listing scheduled on NSE and BSE on Aug. 12.
Ardee Industries IPO Details
Ardee Industries IPO comprises:
- Fresh issue of 6.04 crore shares aggregating to Rs 320 crore
- Offer for sale of 2 crore shares aggregating to Rs 105.87 crore.
The total issue size stands at Rs 425.87 crore, with a price band set at Rs 53 per share. The minimum amount of investment required by an individual investor (retail) is Rs 14,893 (281 shares).
Pantomath Capital Advisors Pvt. Ltd. is the book running lead manager and Kfin Technologies Ltd. is the registrar of the issue.
Ardee Industries IPO Use of Proceeds
Ardee Industries plans to utilise the IPO proceeds primarily to fund its working capital requirements, repay or prepay certain borrowings and use the remaining funds for general corporate purposes.
Ardee Industries IPO Financial
Ardee Industries Ltd. reported a 57% YoY jump in revenue and 155% YoY increase in profit after tax in the financial year ending with March 31, 2026.
- Total income: Rs 1,168.88 crore v Rs 743.53 crore in FY25
- Profit After Tax: Rs 84.68 crore v Rs 33.27 crore in year-ago period
- Ebitda: Rs 147.08 v Rs 65.93 in FY25
The sharp growth in revenue and profitability has been one of the key factors driving strong institutional demand for the IPO.
About Ardee Industries
Founded in 1993, Ardee Industries is engaged in the sustainable recycling of end-of-life batteries and non-ferrous scrap. The company manufactures high-purity lead and specialised lead alloys for the energy storage, e-mobility, automotive, and chemicals sectors.
As of March 2025, it served over 50 customers and has exported products to seven countries, including Singapore, Hong Kong, South Korea, Switzerland.
Disclaimer: Investments in IPOs are subject to market risks. Investors should read the red herring prospectus carefully and consult a financial adviser before making investment decisions.
Essential Business Intelligence, Sharp Market Insights, Practical Personal Finance Advice, Daily Fuel, Gold and Silver Prices and Latest Stories — On NDTV Profit.