Ardee Industries IPO
Non Ferrous Metals • ₹425.87 Cr
Medium risk because:
- 5 material risk factors disclosed in DRHP
- High customer concentration flagged in the DRHP
- Working capital or debt pressure highlighted in DRHP
IPOFins risk score from DRHP risk factors, subscription demand & issue structure
Price Band
₹53
Lot Size
281 shares
Issue Size
₹425.87 Cr
Open
05 Aug 2026
Close
07 Aug 2026
Subscription
133×
IPO Schedule
| Issue Open Date | 05 Aug 2026 |
| Issue Close Date | 07 Aug 2026 |
| Allotment Date | 10 Aug 2026 |
| Listing Date | 11 Aug 2026 |
About Ardee Industries
Ardee Industries Limited is engaged in the recycling and recovery of end-of-life energy storage products and non-ferrous scrap, manufacturing pure lead and lead alloys for domestic and international markets. Its product portfolio includes pure lead and lead calcium, lead antimony, lead tin, lead silver, and lead cadmium alloys, which are used across industries such as energy storage, automotive, e-mobility, and chemicals. The company also manufactures customised lead alloys with purity levels ranging from 99.97% to 99.985% to meet customer-specific requirements. As of March 31, 2026, it served more than 50 customers across India and eight international markets. The company operates a manufacturing and recycling facility spread across approximately 7.61 acres in Tirupati, Andhra Pradesh, with an installed recycling capacity of 156,950 MTPA. The facility is equipped with rotary furnaces, refining kettles, casting machines, pollution control systems, and an NABL-accredited in-house testing laboratory. It also holds ISO 9001:2015, ISO 14001:2015, and ISO 45001:2018 certifications. The company's brands "Ardee" and "ARDEE LEAD 9997" are listed on the Multi Commodity Exchange (MCX) and the London Metal Exchange (LME), respectively.
Company Details
Founders / Promoters
Mr Sandeep Aggarwal
Founded
1993
Registrar
KARVY
Documents
DRHP / RHP Document (PDF)
View official prospectus →
Investment Analysis
Ardee Industries — IPOFins Verdict
QuantitativeDriven by QIB demand at 197.8x and moderate disclosed risk (6/10), Ardee Industries listed at a premium of 35.8% to its issue price. The signals lean constructive — still confirm valuation against listed peers and read the DRHP before applying beyond one lot.
- The company claims to be one of India's leading players in the circular economy, engaged in the recycling of end-of-life energy storage products and non-ferrous scrap. As of July 27, 2026, it claims t
- The company claims to mitigate commodity price volatility through a board-approved hedging framework linked to the London Metal Exchange (LME). It follows a back-to-back pricing model and uses LME fut
- The company claims to have established a diversified customer base across domestic and international markets, serving more than 50 customers as of March 31, 2026. It exports its products to eight coun
- The company claims to benefit from an experienced leadership team with extensive industry expertise. Its promoters are stated to have a cumulative experience of more than four decades in the lead and
- The company has seen a consistent increase in revenue from operations and PAT. Revenue from operations increased from Rs 462.96 crore in FY24 to Rs 742.73 crore in FY25 to Rs 1,167.65 crore in FY26, w
Score breakdown — what drove this verdict
Moderate risk from DRHP → score -0.4
Institutional subscription → score +2.0
Strong retail interest → score +0.5
Actual listing outcome → score +1.5
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.
Listing Performance
Issue Price
₹53
Listing Price
₹72
Listing Gain/Loss
+35.85%
Listing Date
11 Aug 2026
Price Since Listing
Returns are measured against the ₹53 issue price.
Listing
₹72
+35.8%
1 Week
₹63.89
+20.5%
1 Month
₹52.2
-1.5%
Current
₹52.2
-1.5%
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FAQ
What is the price band of Ardee Industries IPO?
The price band is ₹53 per share with a lot size of 281 shares. Minimum investment: ₹14,893.
What does Ardee Industries do?
Ardee Industries Limited is engaged in the recycling and recovery of end-of-life energy storage products and non-ferrous scrap, manufacturing pure lead and lead alloys for domestic and international markets. Its product portfolio includes pure lead and lead calcium, lead antimony, lead tin, lead silver, and lead cadmium alloys, which are used across industries such as energy storage, automotive, e-mobility, and chemicals. The company also manufactures customised lead alloys with purity levels ranging from 99.97% to 99.985% to meet customer-specific requirements. As of March 31, 2026, it served more than 50 customers across India and eight international markets. The company operates a manufacturing and recycling facility spread across approximately 7.61 acres in Tirupati, Andhra Pradesh, with an installed recycling capacity of 156,950 MTPA. The facility is equipped with rotary furnaces, refining kettles, casting machines, pollution control systems, and an NABL-accredited in-house testing laboratory. It also holds ISO 9001:2015, ISO 14001:2015, and ISO 45001:2018 certifications. The company's brands "Ardee" and "ARDEE LEAD 9997" are listed on the Multi Commodity Exchange (MCX) and the London Metal Exchange (LME), respectively.
Should I apply for Ardee Industries IPO?
Ardee Industries listed at ₹72 (+35.8% premium to the ₹53 issue price) after 133.3x subscription. IPOFins Score 9/10: Driven by QIB demand at 197.8x and moderate disclosed risk (6/10), Ardee Industries listed at a premium of 35.8% to its issue price. The signals lean constructive — still confirm valuation against listed peers and read the DRHP before applying beyond one lot.
Who founded Ardee Industries?
Ardee Industries was founded by Mr Sandeep Aggarwal in 1993.