Ardee Industries IPO
Non Ferrous Metals • ₹426cr
High risk because:
- 5 material risk factors disclosed in DRHP
- High customer concentration flagged in the DRHP
- High dependency on the battery and metal industries, which contributed 84.79% of operation…
IPOFins risk score from DRHP risk factors, subscription demand & issue structure
Price Band
₹50-53
Lot Size
281 shares
Issue Size
₹426cr
Open
05 Aug 2026
Close
07 Aug 2026
Subscription
3.08×
GMP +₹14 → est. ₹67
IPO Schedule
| Issue Open Date | 05 Aug 2026 |
| Issue Close Date | 07 Aug 2026 |
| Allotment Date | 10 Aug 2026 |
| Listing Date | 12 Aug 2026 |
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. Discuss on Trading Q&A
Company Details
Founders / Promoters
Mr Sandeep Aggarwal
Founded
1993
Registrar
KARVY
Documents
DRHP / RHP Document (PDF)
View official prospectus →
Subscription Status
3.08×
Total Subscription
Grey Market Premium (GMP)
Issue Price
₹53
GMP
+₹14
Est. Listing
₹67
Est. Gain
+26.4%
GMP is unofficial grey market data — not regulated by SEBI. Use only as a sentiment indicator alongside subscription data. View all IPO GMP →
Investment Analysis
Ardee Industries — IPOFins Verdict
QuantitativeDriven by QIB demand at 1.1x and elevated disclosed risk (7/10). The signals look weak — weigh the risks carefully. This is a quantitative flag, not a recommendation.
- 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.
Score breakdown — what drove this verdict
High risk from DRHP → score -0.8
Institutional subscription → score 0
Base score: 5.0 · Final score = base + all factor adjustments, capped 1–10. Full methodology →
IPOFins Score is a quantitative signal from subscription demand, disclosed risk, and listing data — not investment advice. Not SEBI-registered.
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FAQ
What is the price band of Ardee Industries IPO?
The price band is ₹50-53 per share with a lot size of 281 shares. Minimum investment: ₹14,893.
What does Ardee Industries do?
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. Discuss on Trading Q&A
Should I apply for Ardee Industries IPO?
Ardee Industries is drawing muted interest at 3.1x overall subscription (QIB 1.1x, retail 3.2x). IPOFins Score 4/10: Driven by QIB demand at 1.1x and elevated disclosed risk (7/10). The signals look weak — weigh the risks carefully. This is a quantitative flag, not a recommendation.
Who founded Ardee Industries?
Ardee Industries was founded by Mr Sandeep Aggarwal in 1993.