Ardee Industries IPO
Ardee Industries IPO Listing Day Performance
Ardee Industries listed on BSE & NSE on 12 August 2026 at ₹72.00, a 35.85% premium over the issue price of ₹53. A retail investor allotted one lot of 281 shares gained ₹5,339 at the listing price.
GMP vs actual listing
| Last GMP before listing | ₹16 (+30.2%) |
| GMP-implied listing | ₹69 |
| Actual listing | ₹72.00 |
| Difference | +₹3 (+4.3%) |
Demand going into listing
| Subscribed overall | 138.77× |
| QIB | 202.26× |
| NII | 266.71× |
| Retail | 47.67× |
Market Sentiment
The overall score is a weighted average of the parts below, so one weak part can sit inside a strong overall reading.
IPO Details
Day-wise Subscription (times subscribed)
| Category | Day 1 | Day 2 | Day 3 |
|---|---|---|---|
| QIB | 1.10x | 1.30x | 202.26x |
| NII | 5.32x | 30.55x | 266.71x |
| bNII > ₹10L | 5.13x | 28.25x | 289.87x |
| sNII 2-10L | 5.69x | 35.15x | 220.39x |
| Retail | 3.22x | 14.32x | 47.67x |
| Total | 3.08x | 14.16x | 138.77x |
Market Lot Size
IPO Reservation
Financial Analysis
Financial Data
Financial Performance
| Metric | 2024 | 2025 | 2026 |
|---|---|---|---|
| Revenue | 463.39 | 743.53 | 1,168.88 |
| Expense | 451.61 | 698.88 | 1,055.94 |
| Profit (PAT) | 8.95 | 33.27 | 84.68 |
| Total Assets | 196.12 | 262.06 | 363.33 |
Peer Comparison
| Company | EPS | P/E | RoNW % | NAV | Income |
|---|---|---|---|---|---|
| Ardee Industries This IPO | 3.32 | - | 57.46 | 5.78 | - |
| Gravita India Limited | 52.02 | 35.37 | 15.43 | 332.16 | 4,265.27 Cr |
| Pondy Oxides and Chemicals Limited | 43.98 | 31.94 | 16.73 | 258.39 | 2,958.36 Cr |
| Jain Resources Recycling Limited | 10.25 | 33.57 | 22.25 | 45.24 | 9,543.11 Cr |
Strengths & Risks
- Heavily oversubscribed — 138.8x overall (so far).
- Strong institutional (QIB) demand — 202.3x.
- Revenue grew 57% in the latest reported year.
- Strong return on equity — 57%.
- Mostly fresh capital — proceeds fund the company's growth, not an exit.
- Elevated leverage — debt/equity of 1.25.
Compiled from this issue's live GMP, subscription, valuation and financial data, and updated as those figures change. Informational only — not investment advice. Always read the RHP before applying.
Company Information
About Ardee Industries
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.
Company Contact Information
Ardee Industries Ltd., Khasra No. 340, 1st Floor and 3rd Floor,, Village Sultanpur,, Mehrauli, Gadaipur,, Delhi, New Delhi, 110030
Objects of the Issue
| Purpose | Amount (Cr) |
|---|---|
| Funding incremental working capital requirement of Company | 220.00 |
| Repayment and/or pre-payment, in full or in part, of certain borrowings availed by Company | 20.00 |
| Purposes | - |
Resources & Documents
Anchor Investors
Ardee Industries IPO - Quick Take
Ardee Industries has set a price band of Rs 50–Rs 53 per share for an issue size of Rs 426 crore. The stock listed with a 35.85% gain versus its issue price on August 12, 2026.
The issue is promoted by Sandeep Aggarwal, Nikunj Aggarwal and Esha Gupta with Pantomath Capital Advisors Pvt. Ltd. acting as lead manager. Net proceeds will primarily be used towards funding incremental working capital requirement of Company (Rs 220 crore) and repayment and/or pre-payment, in full or in part, of certain borrowings availed by Company (Rs 20 crore).
On fundamentals, the company is posting revenue growth of 57.2%, a profit margin of 7.2%, return on equity of 57.5% in its most recent reported period. Listed peers in this segment include Gravita India Limited (P/E 35.37x) and Pondy Oxides and Chemicals Limited (P/E 31.94x) — useful reference points when evaluating the issue's pricing relative to where the broader sector is trading.
On our data-signal score, the combined signals for this issue currently read very strong — GMP, subscription demand and fundamentals are all reading positively. This is a summary of public data, not a recommendation to apply or skip. Past performance does not predict future returns — review the price chart and peer comparison below before trading.
Frequently Asked Questions
Ardee Industries IPO GMP — What It Means
GMP stops mattering once the shares trade — it only ever estimated the listing price. The summary at the top of this page compares the last pre-listing GMP with how the shares actually listed. Its last GMP before listing was 30.2%. Of the 25 Mainboard IPOs we have tracked with a final GMP of 25% or more, 25 listed above, 0 flat and 0 below the issue price; Ardee Industries listed 35.9% above its issue price.
See the full Ardee Industries GMP history and trend, or learn how grey market premium works and how reliable it is.
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