GMP IPO Watch
Ardee Industries IPO 2026: Secondary Lead Manufacturing, Battery Recycling Business and Long-Term Investment Analysis
Ardee Industries IPO is a mainboard public issue offering investors exposure to India's gr...
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Mainboard IPO
LISTED
BSE, NSE
ARDEEIND
Ardee Industries IPO
Ardee Industries IPO details, live grey market premium (GMP), dates, price band, lot size, subscription & review.
Live GMP Today
₹17
+32.1%
Est. Listing: ₹70.00
Price Band
₹50 - ₹53
Per equity share
Lot Size
281 Shares
Min Invest: ₹14,893
Issue Size
₹425.87 Cr
Total Public Offering
Issue Dates
4 August 2026 – 6 August 2026
Bidding period
Subscription
133.66x
Total overall demand
Ardee Industries IPO Details
Key facts at a glance| IPO Open Date | 4 August 2026 | IPO Close Date | 6 August 2026 |
|---|---|---|---|
| Basis of Allotment | 9 August 2026 | Listing Date | 11 August 2026 |
| Price Band | ₹50 - ₹53 per share | Face Value | ₹10 per share |
| Market Lot Size | 281 Shares | Min Investment (Retail) | ₹14,893 |
| Total Issue Size | ₹425.87 Cr | Issue Type | Book Built Issue IPO |
| Fresh Issue | — | Offer for Sale (OFS) | — |
| Listing At | BSE, NSE | Issue Category | Mainboard Issue |
| Registrar | TBA | ||
Ardee Industries IPO Timetable (Tentative Dates)
| Event | Tentative Date | Status |
|---|---|---|
| IPO Open Date | 4 August 2026 | Confirmed |
| IPO Close Date | 6 August 2026 | Confirmed |
| Basis of Allotment | 9 August 2026 | Tentative |
| Initiation of Refunds | 11 August 2026 | Tentative |
| Credit of Shares to Demat | 11 August 2026 | Tentative |
| IPO Listing Date | 11 August 2026 | Tentative |
| Cut-off time for UPI Mandate Confirmation | 7 August 2026 (5:00 PM) | Deadline |
* Note: Timelines are tentative and subject to regulatory confirmation. UPI mandate approvals must be completed by 5:00 PM on the IPO closing day.
Ardee Industries IPO Lot Size & Investment Details
Application limits for Retail and HNI investors| Application Category | Lots | Shares | Amount (at Cut-off) |
|---|---|---|---|
| Retail (Min) | 1 Lot | 281 Shares | ₹14,893 |
| Retail (Max) | 13 Lots | 3,653 Shares | ₹1,93,609 |
| S-HNI (Min) | 14 Lots | 3,934 Shares | ₹2,08,502 |
| S-HNI (Max) | 67 Lots | 18,827 Shares | ₹9,97,831 |
| B-HNI (Min) | 68 Lots | 19,108 Shares | ₹10,12,724 |
Ardee Industries IPO Live GMP & Movement History
Daily unofficial grey market trends
Current Grey Market Premium
₹17 +32.1%
Estimated Listing Price
₹70.00
| Date | IPO GMP (₹) | Estimated Listing Price | Estimated Listing Gain (%) |
|---|---|---|---|
| 7 Aug 2026 | ₹15 | ₹68.00 | +28.30% |
| 6 Aug 2026 | ₹15 | ₹68.00 | +28.30% |
| 3 Aug 2026 | ₹7 | ₹60.00 | +13.21% |
Disclaimer: Grey Market Premium (GMP) figures are purely unofficial and indicative rates traded in the unregulated grey market. GMP is highly volatile and does not guarantee the actual listing price. Always consult a SEBI registered investment advisor before bidding.
Ardee Industries IPO Subscription Status
Demand breakdown by investor category
Retail
45.71x
QIB
197.77x
NII / HNI
255.24x
Total
133.66x
About Ardee Industries
Ardee Industries Limited is a key player in India’s circular economy, specialising in the environmentally responsible recovery and recycling of end-of-life energy storage products and non-ferrous scrap. The company’s core business involves manufacturing pure lead and various lead alloys, including lead-calcium, lead-antimony, and lead-tin alloys, by processing recyclable scrap materials such as used lead-acid batteries, remelted lead ingots, and lead scrap. It operates a manufacturing facility in Naidupet, Andhra Pradesh. The company generates revenue primarily from the sale of its recycled and refined products, which meet international purity standards of 99.97% to 99.985%, to customers in both domestic and international markets. Its products are crucial for industries like energy storage, e-mobility, automotive, and chemicals. Ardee Industries serves a diverse customer base, including large-scale battery manufacturers, across India and in export markets like Singapore, Switzerland, and South Korea.
Key Strengths
- One of India’s leading players in the circular economy, specialising in recycling end-of-life energy products.
- One of the fastest-growing companies in the sector, with a revenue CAGR of 58.81% in the last three fiscals.
- Manufacturing facility is strategically located near major battery manufacturers and ports, reducing logistical costs.
- Utilises a robust hedging mechanism to mitigate volatility in commodity prices, protecting margins.
- Maintains a strong and diverse global sourcing network for raw materials from over 50 countries.
Key Risks
- Significant revenue concentration, with the top customer contributing 40.64% of revenue from operations.
- High dependency on the battery and metal industries, which contributed 84.79% of operational revenue.
- A substantial portion of raw materials is sourced from a limited number of suppliers.
- Potential for conflict of interest exists with a group company, Pilot Industries Limited, engaged in a similar business.
- Business is vulnerable to the decline of lead-acid batteries due to the rising adoption of lithium-ion technology.
Ardee Industries IPO Reservation & Share Quotas
The Ardee Industries IPO follows the SEBI-prescribed reservation structure for a Book Built Issue. The issue is allocated across different categories of investors, including Qualified Institutional Buyers (QIBs), Non-Institutional Investors (NIIs), and Retail Individual Investors (RIIs). The category-wise allocation is intended to ensure broad participation from institutional and retail investors.
The reservation details available for the IPO are provided below. The exact number of shares for each category will be announced by the company in the final offer documents.
| Investor Category | Shares Offered | Reservation (%) |
|---|---|---|
| Anchor Investor | – Shares | –% |
| Qualified Institutional Buyers (QIB) (Excluding Anchor) | – Shares | 50% |
| Non-Institutional Investors (NII) | – Shares | 15% |
| Retail Individual Investors (RII) | – Shares | 35% |
Note: The exact number of shares reserved for each investor category will be disclosed before the IPO opens. The final allocation will be carried out in accordance with SEBI regulations and the Basis of Allotment after the issue closes.
Ardee Industries IPO Anchor Investors
Before the public subscription opens, Ardee Industries Limited may allocate a portion of its IPO to eligible Anchor Investors. Anchor investors are Qualified Institutional Buyers (QIBs) who participate in the issue one working day before the IPO opens, helping establish price discovery and enhancing investor confidence in the public offering.
The details below provide information about the anchor bidding schedule, proposed allocation, issue size, and the applicable SEBI-prescribed lock-in periods. The final list of anchor investors will be released after the completion of the anchor allocation process.
| Particular | Details |
|---|---|
| Anchor Bidding Date | August 4, 2026 |
| Anchor Investors List | |
| Shares Offered | [.] Shares |
| Anchor Issue Size | [.] Crores |
| Lock-in Period End Date (50% Shares – 30 Days) | 2026 |
| Lock-in Period End Date (Remaining 50% Shares – 90 Days) | 2026 |
Note: The final anchor investor list, total shares allotted, anchor issue size, and exact lock-in period end dates will be updated after the completion of the anchor allocation. The lock-in period is governed by applicable SEBI regulations.
Ardee Industries IPO Important Dates
| Particular | Dates |
|---|---|
| IPO Open Date | 05 Aug 2026 |
| IPO Close Date | 07 Aug 2026 |
| Basis of Allotment | 10 Aug 2026 |
| Refunds | - |
| Credit to Demat Account | - |
| IPO Listing Date | 12 Aug 2026 |
Note: The timeline for ਆਰਡੀ ਇੰਡਸਟਰੀਜ਼ IPO is tentative and subject to change.
Ardee Industries Promoters and Shareholding Pattern
The promoters of Ardee Industries Limited have played a significant role in establishing and expanding the company's business operations. Even after the completion of the IPO, the promoters will continue to hold a majority stake in the company, demonstrating their long-term commitment to its future growth and strategic direction.
The public issue will lead to a dilution in promoter shareholding due to the fresh issue of equity shares and the Offer for Sale (OFS). The shareholding pattern before and after the IPO is summarized below.
Promoters of Ardee Industries Limited
- Sandeep Aggarwal
- Nikunj Aggarwal
- Esha Gupta
| Category | Pre IPO Shares | Pre IPO Holding | Post IPO Shares | Post IPO Holding |
|---|---|---|---|---|
| Promoter and Promoter Group | 23,31,25,700 | 91.48% | 21,31,50,700 | 67.62% |
| Others* | 2,16,98,300 | 8.52% | 10,20,50,658 | 32.38% |
| Total | 25,48,24,000 | 100% | 31,52,01,358 | 100% |
Note: The post-IPO shareholding pattern is based on the proposed issue structure and may change depending on the final allotment and completion of the IPO. The promoters are expected to retain a controlling stake in Ardee Industries Limited after listing.
Ardee Industries Objects of the Issue & Utilisation of Proceeds
To Be Updated Soon
Ardee Industries About the IPO
Ardee Industries, founded in 1993, is one of the leading Indian companies in the secondary metals industry, supplying high-quality lead metal. The firm began its journey as a trading company and evolved into a leading manufacturer and recycler of refined lead and alloys, serving domestic and international markets.
Its product range includes high-purity lead and specialised lead alloys such as lead calcium, lead antimony, lead tin, lead silver, and lead cadmium alloys.
Its products cater to a wide range of industries such as energy storage, e-mobility, automotive, and chemicals. Its manufacturing facility is situated in Tirupati district, Andhra Pradesh, spanning approximately 7.61 acres. Ardee Industries has exported its products to various countries, including Singapore, Hong Kong, South Korea, Switzerland, the United Arab Emirates, Japan, and the United States of America.
Ardee Industries Company Financial Report
To Be Updated Soon
Ardee Industries Company Valuation & Key Performance Indicators
To Be Updated Soon
Ardee Industries Peer Group Comparison
To Be Updated Soon
Ardee Industries Lead Managers & Merchant Bankers
- Pantomath Capital Advisors Pvt. Ltd.
Ardee Industries IPO FAQs
Ardee Industries IPO opens for subscription on 4 August 2026 and closes on 6 August 2026.
The price band for Ardee Industries IPO is set at ₹50.00 to ₹53.00 per share.
The minimum market lot size is 281 shares. A retail investor can apply for a minimum of 1 lot requiring an investment of 281 Shares (₹14,893).
The latest Grey Market Premium (GMP) for Ardee Industries IPO is ₹17. GMP represents the unofficial premium at which shares trade prior to listing.
The basis of allotment for Ardee Industries IPO is tentatively scheduled for 9 August 2026, and shares are expected to list on the stock exchanges on 11 August 2026.
The registrar details will be confirmed in the official prospectus.
Ardee Industries IPO Analysis & Articles
