Ardee Industries Ltd IPO
Status: Closed
Overview
IPO date
05 Aug 2026 to 07 Aug 2026
Face value
₹ 2 per share
Price
₹ 50 to ₹53 per share
Issue Size
80,351,950 shares
(aggregating up to ₹ 425.87 Cr)
(aggregating up to ₹ 425.87 Cr)
Allotment Date
10 Aug 2026
Listing at
NSE
Issue type
Book Building
Sector
Non Ferrous Metals
Unlock Stock of the Month
T&C*
Strengths vs Risks of Ardee Industries Ltd
Know the pros & cons
Strengths
- One of India's leading players in circular economy with a proven track record with demonstrated operational stability.
- Application of Hedging Mechanism for Commodity Price Risk Related Protection.
- Strong customer base along with robust raw materials sourcing capabilities.
- Track record of profitability and consistent financial performance.
- Experienced promoters and professional management team.
Risks
- The company served 52, 54 and 54 customers for the Fiscals 2026, 2025 and 2024. The revenue from the company's top customer was Rs. 4,745.56 million, Rs. 3,804.08 million and Rs. 3,352.94 million and contributed to 40.64%, 51.22% and 72.42% of revenue from operations during the respective years. The loss of any of these customers could have a material adverse effect on its business, financial condition, results of operations and cash flows.
- During the Fiscals 2026, 2025 and 2024, 84.79%, 87.23% and 88.64% of the company's revenue from operations, respectively, were attributed to the battery and metal industries and therefore its business operations is dependent upon the said industries. Any downturn in the demand of battery and metal industries and the other industries in which the company's customers operates, could adversely affect its business, financial performance and condition.
- The company depends on third party suppliers for the supply of raw material required for its business operations. Any disruptions in the supply or availability of the raw material or fluctuations in their prices may have an adverse impact on the company's business operations, cash flows and financial performance. Further, its cost of raw material purchased from the company's top 10 suppliers were Rs. 3,567.49 million, Rs. 3,047.48 million and Rs. 1,881.67 million, representing 38.48%, 53.71% and 51.06%, of its total purchases of raw materials in the Fiscals 2026, 2025 and 2024, respectively.
- The company has a limited operating history, and its historical performance may not be indicative of the company's future growth or financial results.
- The company debt-to-equity ratio, as per its Restated Financial Information, was 1.25 times, 2.65 times and 4.87 times for Fiscals 2026, 2025 and 2024, respectively. A high debt-to-equity ratio may adversely affect the company's financial condition and results of operations.
- The company operates in a labour-intensive industry and dependent on contract labour for its manufacturing operations. In the event of non-availability of contract labour or increase in labour cost or any adverse regulatory orders or strikes or labour unrest, it may have a material adverse impact on its operations.
- Any adverse revision to the company's credit rating by rating agencies may adversely affect its ability to raise additional financing and the interest rates and other commercial terms at which such funding is available.
- The company's inability to comply with repayment and other covenants in the financing agreements or otherwise meet its debt servicing obligations could adversely affect the company's business, financial condition, cash flows and credit rating. Further, the company is subject to risks arising from interest rate fluctuations, which could reduce its profitability and adversely affect the company's business, financial condition and results of operations.
- The company derived about 83.68% to 92.80% of its Revenue from Operations from repeat customers in the preceding three Fiscals and any loss of or a significant reduction in the repeat customers or revenue generated from them could adversely affect the company's business, results of operations, financial condition and cash flows.
- Out of the company's Revenue from Operations from 12 states/union territories across India, more than 40.84% of its revenue from operations during the Fiscal 2026 was derived from Andhra Pradesh. Further out of the company's Revenue from Operations from 8 countries, a significant amount of revenue is earned from countries such as Singapore, Switzerland and South Korea. Any disruption, including occurrence of any internal or external factors in the State of Andhra Pradesh or in Singapore, Switzerland and South Korea may restrict its operations and adversely affect the company's business, results of operations and financial conditions.
- The price of the lead products industry is volatile and volatility in prices of lead products or raw materials may have a material adverse effect on the company's business, results of operations, prospects and financial condition.
- Any under-utilization of capacity of the company's Manufacturing Facility and an inability to effectively optimize its operations may have an adverse effect on the company's business and future financial performance. Further, information relating to the installed capacity and capacity utilization of its manufacturing operations included in this Red Herring Prospectus are based on various assumptions and estimates and future manufacturing capacity may vary.
- The company's operations requires individuals to work under potentially dangerous circumstances. These activities can be extremely dangerous and any accident could cause serious injury to people or property and in certain circumstances, even death, during transit and this may adversely affect its production schedules, costs, sales and ability to meet customer demand.
- Conflict of interest may arise out of common business objects shared by the Company and one of its Group Company, Pilot Industries Limited.
- Any decline in the use of lead-acid batteries due to increasing adoption of lithium-ion battery technologies could adversely affect the company's business, results of operations and financial condition.
- The company is subject to strict quality requirements and is required to incur significant expenses to maintain its product quality as per industry standards. Any failures to comply with such industry standards may lead to cancellation of existing and future orders which may adversely affect the company's reputation, financial conditions, cash flows and results of operations.
- The company's existing international operations and its plans to expand the company's customer base into such overseas markets subject it to various business, economic, political, regulatory and legal risks.
- There have been certain instances of delays in the payment of statutory dues by the Company in the past. Any delay in payment of statutory dues by the Company in future, may result in the imposition of penalties and in turn may have an adverse effect on the Company's business, financial condition, results of operation and cash flows.
- The company is exposed to foreign currency exchange rate fluctuations, which may impact its results of operations and cause the company's financial results to fluctuate.
- Failure to accurately forecast customer demand could lead to excess inventories or inventory shortages, which could result in decreased operating margins and reduced cash flows and adversely affect the company's business, financial condition, cash flows and results of operations.
- Any disruption or shortage of essential utilities including fuel & gas and water and electricity could disrupt the company's operations and increase its production costs, which could adversely affect the company's results of operations.
- The company has experienced negative cash flows in the past and may continue to do so in the future and the same may adversely affect its cash flow requirements, which in turn may adversely affect the company's ability to operates its business and implement the company's growth plans, thereby affecting its financial condition.
- The company's contingent liabilities as stated in the Restated Financial Information could adversely affect its financial condition, cash flows, and results of operations.
- Any variation in the utilisation of the Net Proceeds would be as per the Companies Act, 2013 and other applicable laws and subject to certain compliance requirements, including prior shareholders' approval.
- Certain of the company's historical corporate records and filings made by the company not traceable or have certain discrepancies or have been filed with a delays. Further, the Company has inadvertently failed to make certain filings with the RoC which may lead to penal action by the competent regulatory authority in relation to such discrepancies.
- The company does not has long-term agreements with its customers. In order to retain some of the company's existing customers its may also be required to offer terms which the company may place restraints on its resources.
- The company has substantial capital requirements and may requires additional capital and financing in the future and its operations could be curtailed if the company is unable to obtain the required additional capital and financing when needed.
- The Company has in the last three Fiscals entered into related party transactions with its Promoters, Directors and Group Companies, Promoter Group members/entities and may continue to do so in the future. There can be no assurance that such transactions, individually or in the aggregate, will not have an adverse effect on the company's financial condition and results of operations.
- The company's funding requirements and proposed deployment of the Net Proceeds are based on management estimates and may be subject to change based on various factors, some of which are beyond its control.
- The company's manufacturing operations is concentrated in the State of Andhra Pradesh. Any disruption including occurrence of any internal or external factors in the State of Andhra Pradesh may restrict its operations and adversely affect the company's business, results of operations and financial conditions.
- Its success depends on the company's ability to execute its growth strategies. If the company is unable to sustain or manage its growth, the company's business, results of operations, cash flows and financial condition may be adversely affected.
- The company's inability to maintain, protect and use its intellectual property may adversely affect the company's results of operations.
- If the company does not continue to invest in new technologies and equipment, its technologies and equipment may become obsolete and the company's cost of processing may increase relative to its competitors, which may have an adverse impact on the company's business, results of operations, and financial condition.
- As of the date of this Red Herring Prospectus, there are certain outstanding legal proceedings involving the Company and Promoters. However, any future litigation involving these parties may adversely affect its business, financial condition, and results of operations.
- The company faces competition from domestic lead and metal recycling companies (from both organized and unorganized players) and primary lead suppliers and its inability to compete effectively may have a material adverse impact on the company's business, results of operations and financial condition.
- The company is highly dependent on experience and skill of its management team and a number of Key Managerial Personnel (KMP), Senior Management and skilled personnel for the company day-to-day operations. If its lose such personnel or is unable to attract or retain such personnel, the company may not be able to maintain client relationships and grow effectively, which may have a material adverse effect on its business performance.
- The company is subject to various environmental, health and safety laws and regulations and failures to comply with such laws and regulations or if the company does not obtain, renew, or maintain the statutory and regulatory permits and approvals required to operates its business could impose substantial cost upon the company.
- The company's insurance coverage may not be adequate to protect it against all potential losses, which may have a material adverse effect on its business, financial condition, cash flows and results of operations.
- If the company is unable to establish and maintain an effective internal controls and compliance systems, its business and reputation could be adversely affected.
- The company's inability to collect receivables in time or at all, and any default in payment from its customers, could result in the reduction of the company's profits and affect its cash flows.
- The company's employees may engage in fraud, misconduct or other improper activities, including non-compliance with regulatory standards and requirements and the same may results into imposition of criminal penalties, fines, revocation of regulatory approvals and harm to the company's reputation, any of which could form a material adverse effect on its business.
- The company uses fleet of transportation vehicles provided by third party transportation & logistics providers and customs house agents for delivery of finished products to its customers as well as raw materials to the company's Manufacturing Facility. Any delay in delivery of finished products or raw materials or increase in the charges of transportation charges by third party transportation & logistics providers and customs house agents could adversely affect its business, results of operations and financial condition. The company also may be exposed to the risk of theft, accidents and/or loss of its products in transit.
- Some of the premises where the company's Registered Office, Manufacturing Facility and other premises are located on leasehold lands or taken on leave and license basis. Failures to comply with the conditions of the use of such properties could result in an adverse impact on its business and operations. Further there can be no assurances that these lease or leave and license agreements will be renewed upon termination or that the company will be able to obtain other premises on lease or on lease/leave and license basis on same or similar commercial terms.
- The company's restated profit for Fiscals 2026, 2025 and 2024 was Rs. 846.81 million, Rs. 332.71 million and Rs. 89.54 million, respectively. Its historical performance is not indicative of the company future growth or financial results and if the company fails to implement its strategies, the company's business, results of operations and prospects could be adversely affected.
- The industry related disclosure in this Red Herring Prospectus has been derived from the F&S Report which the company has commissioned and purchased and any reliance on such information for making an investment decision in the Offer is subject to inherent risks.
- The company's Promoters and Promoter Group members will continue to retain significant control in the Company after the Offer which will allow them to influence the outcome of matters submitted to shareholders for approval. Such a concentration of ownership may also have the effect of delaying, preventing or deterring a change in control.
- The company is exposed to the risks of malfunctions or disruptions of information technology systems.
- The company's ability to pay dividend in the future will depends upon future earnings, financial condition, cash flows, working capital requirements, capital expenditures and restrictive terms of its financing arrangements.
- The proceeds from the Offer for Sale will be paid to the company's Promoter Selling Shareholders.
- The company has issued specified securities during the preceding 12 months from the date of this Red Herring Prospectus at a price which may be below the Offer Price.
- The company has in this Red Herring Prospectus included certain non-GAAP financial measures and certain other industry measures related to its operations and financial performance that may vary from any standard methodology that is applicable across the industry the company operates.
- The requirements of being a publicly listed company may strain its resources.
- Some of the company's Directors on its board does not possess experience of being on the board of a listed company.
Ardee Industries Ltd Peer Comparison
Understand the company’s industry standing
Ardee Industries Ltd
Gravita India Limited
Pondy Oxides and Chemical s Limited
Face Value
2
2
5
Standalone / Consolidated
Standalone
Consolidated
Consolidated
Total Income Rs. Cr.
1167.653
4265.27
2958.361
EPS-Basis
3.32
52.02
43.98
EPS-Diluted
3.32
52.02
43.98
NAV Per Share
5.78
332.16
258.39
P/E-Basic EPS
---
35.37
31.94
P/E-Diluted EPS
---
---
---
RONW(%)
57.46
15.43
16.73
Latest NAV Period
---
---
---
Latest NAV
---
---
---
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The IPO opens on 05 Aug 2026 & closes on 07 Aug 2026.
Ardee Industries Limited was originally incorporated as a private limited Company at Chennai, Tamil Nadu, dated September 16, 1993, with the Assistant Registrar of Companies. Thereafter, Company was converted into a Public Limited company by the Central Registration Centre on May 6, 2025.
The Company took over the manufacturing operations of pure lead and lead alloys in 2021 and commenced the exports. Since then, Company engages in the business of manufacturing non ferrous metal and batteries along with process, refine mix, recycling of lead, lead oxide, red oxide, etc. Company specializes in manufacturing of pure lead and lead alloys that conform to international standards, with purity levels ranging from 99.97% to 99.985%. The Company has increased the capacity of manufacturing plant in Tirupati District of Andhra Pradesh at 156,950 MPTA in FY2025.
The Company undertake recovery and recycling of end-of-life energy storage products and non-ferrous scrap into high-quality materials. The main products derived from such products include, pure lead and lead alloys. Further, the products consist of pure lead and lead alloys such as lead calcium alloys, lead antimony alloys, lead tin alloys, lead silver alloys and lead cadmium alloys.
The Company launched the IPO aggregating 80,351,950 Equity shares of Rs 2 each and raised funds of Rs 425.8 crore, which comprise a fresh issue of 60,376,950 equity shares amounting to Rs 320 crore and the offer for sale of 19,975,000 Equity shares amounting to Rs 105.8 crore on August 7, 2026.
Ardee Industries Ltd IPO will close on 07 Aug 2026.
- One of India's leading players in circular economy with a proven track record with demonstrated operational stability.
- Application of Hedging Mechanism for Commodity Price Risk Related Protection.
- Strong customer base along with robust raw materials sourcing capabilities.
- Track record of profitability and consistent financial performance.
- Experienced promoters and professional management team.
| S.No | Promoters Name | Pre Issue Shares | Pre Issue Percentage | Post Issue Shares | Post Issue Percentage |
|---|---|---|---|---|---|
| 1 | Sandeep Aggarwal | 116530850 | 45.73 | 106543350 | 33.8 |
| 2 | Nikunj Aggarwal | 115762850 | 45.43 | 105775350 | 33.56 |
| 3 | Esha Gupta | 8000 | --- | 8000 | --- |
| 4 | Jaishree Aggarwal | 8000 | --- | 8000 | --- |
| 5 | Ridhima Agarwal | 8000 | --- | 8000 | --- |
| 6 | Sandeep Aggarwal HUF | 8000 | --- | 8000 | --- |
| 7 | D.P. Auto Industries Limited | 800000 | 0.31 | 800000 | 0.25 |
- The company served 52, 54 and 54 customers for the Fiscals 2026, 2025 and 2024. The revenue from the company's top customer was Rs. 4,745.56 million, Rs. 3,804.08 million and Rs. 3,352.94 million and contributed to 40.64%, 51.22% and 72.42% of revenue from operations during the respective years. The loss of any of these customers could have a material adverse effect on its business, financial condition, results of operations and cash flows.
- During the Fiscals 2026, 2025 and 2024, 84.79%, 87.23% and 88.64% of the company's revenue from operations, respectively, were attributed to the battery and metal industries and therefore its business operations is dependent upon the said industries. Any downturn in the demand of battery and metal industries and the other industries in which the company's customers operates, could adversely affect its business, financial performance and condition.
- The company depends on third party suppliers for the supply of raw material required for its business operations. Any disruptions in the supply or availability of the raw material or fluctuations in their prices may have an adverse impact on the company's business operations, cash flows and financial performance. Further, its cost of raw material purchased from the company's top 10 suppliers were Rs. 3,567.49 million, Rs. 3,047.48 million and Rs. 1,881.67 million, representing 38.48%, 53.71% and 51.06%, of its total purchases of raw materials in the Fiscals 2026, 2025 and 2024, respectively.
- The company has a limited operating history, and its historical performance may not be indicative of the company's future growth or financial results.
- The company debt-to-equity ratio, as per its Restated Financial Information, was 1.25 times, 2.65 times and 4.87 times for Fiscals 2026, 2025 and 2024, respectively. A high debt-to-equity ratio may adversely affect the company's financial condition and results of operations.
- The company operates in a labour-intensive industry and dependent on contract labour for its manufacturing operations. In the event of non-availability of contract labour or increase in labour cost or any adverse regulatory orders or strikes or labour unrest, it may have a material adverse impact on its operations.
- Any adverse revision to the company's credit rating by rating agencies may adversely affect its ability to raise additional financing and the interest rates and other commercial terms at which such funding is available.
- The company's inability to comply with repayment and other covenants in the financing agreements or otherwise meet its debt servicing obligations could adversely affect the company's business, financial condition, cash flows and credit rating. Further, the company is subject to risks arising from interest rate fluctuations, which could reduce its profitability and adversely affect the company's business, financial condition and results of operations.
- The company derived about 83.68% to 92.80% of its Revenue from Operations from repeat customers in the preceding three Fiscals and any loss of or a significant reduction in the repeat customers or revenue generated from them could adversely affect the company's business, results of operations, financial condition and cash flows.
- Out of the company's Revenue from Operations from 12 states/union territories across India, more than 40.84% of its revenue from operations during the Fiscal 2026 was derived from Andhra Pradesh. Further out of the company's Revenue from Operations from 8 countries, a significant amount of revenue is earned from countries such as Singapore, Switzerland and South Korea. Any disruption, including occurrence of any internal or external factors in the State of Andhra Pradesh or in Singapore, Switzerland and South Korea may restrict its operations and adversely affect the company's business, results of operations and financial conditions.
- The price of the lead products industry is volatile and volatility in prices of lead products or raw materials may have a material adverse effect on the company's business, results of operations, prospects and financial condition.
- Any under-utilization of capacity of the company's Manufacturing Facility and an inability to effectively optimize its operations may have an adverse effect on the company's business and future financial performance. Further, information relating to the installed capacity and capacity utilization of its manufacturing operations included in this Red Herring Prospectus are based on various assumptions and estimates and future manufacturing capacity may vary.
- The company's operations requires individuals to work under potentially dangerous circumstances. These activities can be extremely dangerous and any accident could cause serious injury to people or property and in certain circumstances, even death, during transit and this may adversely affect its production schedules, costs, sales and ability to meet customer demand.
- Conflict of interest may arise out of common business objects shared by the Company and one of its Group Company, Pilot Industries Limited.
- Any decline in the use of lead-acid batteries due to increasing adoption of lithium-ion battery technologies could adversely affect the company's business, results of operations and financial condition.
- The company is subject to strict quality requirements and is required to incur significant expenses to maintain its product quality as per industry standards. Any failures to comply with such industry standards may lead to cancellation of existing and future orders which may adversely affect the company's reputation, financial conditions, cash flows and results of operations.
- The company's existing international operations and its plans to expand the company's customer base into such overseas markets subject it to various business, economic, political, regulatory and legal risks.
- There have been certain instances of delays in the payment of statutory dues by the Company in the past. Any delay in payment of statutory dues by the Company in future, may result in the imposition of penalties and in turn may have an adverse effect on the Company's business, financial condition, results of operation and cash flows.
- The company is exposed to foreign currency exchange rate fluctuations, which may impact its results of operations and cause the company's financial results to fluctuate.
- Failure to accurately forecast customer demand could lead to excess inventories or inventory shortages, which could result in decreased operating margins and reduced cash flows and adversely affect the company's business, financial condition, cash flows and results of operations.
- Any disruption or shortage of essential utilities including fuel & gas and water and electricity could disrupt the company's operations and increase its production costs, which could adversely affect the company's results of operations.
- The company has experienced negative cash flows in the past and may continue to do so in the future and the same may adversely affect its cash flow requirements, which in turn may adversely affect the company's ability to operates its business and implement the company's growth plans, thereby affecting its financial condition.
- The company's contingent liabilities as stated in the Restated Financial Information could adversely affect its financial condition, cash flows, and results of operations.
- Any variation in the utilisation of the Net Proceeds would be as per the Companies Act, 2013 and other applicable laws and subject to certain compliance requirements, including prior shareholders' approval.
- Certain of the company's historical corporate records and filings made by the company not traceable or have certain discrepancies or have been filed with a delays. Further, the Company has inadvertently failed to make certain filings with the RoC which may lead to penal action by the competent regulatory authority in relation to such discrepancies.
- The company does not has long-term agreements with its customers. In order to retain some of the company's existing customers its may also be required to offer terms which the company may place restraints on its resources.
- The company has substantial capital requirements and may requires additional capital and financing in the future and its operations could be curtailed if the company is unable to obtain the required additional capital and financing when needed.
- The Company has in the last three Fiscals entered into related party transactions with its Promoters, Directors and Group Companies, Promoter Group members/entities and may continue to do so in the future. There can be no assurance that such transactions, individually or in the aggregate, will not have an adverse effect on the company's financial condition and results of operations.
- The company's funding requirements and proposed deployment of the Net Proceeds are based on management estimates and may be subject to change based on various factors, some of which are beyond its control.
- The company's manufacturing operations is concentrated in the State of Andhra Pradesh. Any disruption including occurrence of any internal or external factors in the State of Andhra Pradesh may restrict its operations and adversely affect the company's business, results of operations and financial conditions.
- Its success depends on the company's ability to execute its growth strategies. If the company is unable to sustain or manage its growth, the company's business, results of operations, cash flows and financial condition may be adversely affected.
- The company's inability to maintain, protect and use its intellectual property may adversely affect the company's results of operations.
- If the company does not continue to invest in new technologies and equipment, its technologies and equipment may become obsolete and the company's cost of processing may increase relative to its competitors, which may have an adverse impact on the company's business, results of operations, and financial condition.
- As of the date of this Red Herring Prospectus, there are certain outstanding legal proceedings involving the Company and Promoters. However, any future litigation involving these parties may adversely affect its business, financial condition, and results of operations.
- The company faces competition from domestic lead and metal recycling companies (from both organized and unorganized players) and primary lead suppliers and its inability to compete effectively may have a material adverse impact on the company's business, results of operations and financial condition.
- The company is highly dependent on experience and skill of its management team and a number of Key Managerial Personnel (KMP), Senior Management and skilled personnel for the company day-to-day operations. If its lose such personnel or is unable to attract or retain such personnel, the company may not be able to maintain client relationships and grow effectively, which may have a material adverse effect on its business performance.
- The company is subject to various environmental, health and safety laws and regulations and failures to comply with such laws and regulations or if the company does not obtain, renew, or maintain the statutory and regulatory permits and approvals required to operates its business could impose substantial cost upon the company.
- The company's insurance coverage may not be adequate to protect it against all potential losses, which may have a material adverse effect on its business, financial condition, cash flows and results of operations.
- If the company is unable to establish and maintain an effective internal controls and compliance systems, its business and reputation could be adversely affected.
- The company's inability to collect receivables in time or at all, and any default in payment from its customers, could result in the reduction of the company's profits and affect its cash flows.
- The company's employees may engage in fraud, misconduct or other improper activities, including non-compliance with regulatory standards and requirements and the same may results into imposition of criminal penalties, fines, revocation of regulatory approvals and harm to the company's reputation, any of which could form a material adverse effect on its business.
- The company uses fleet of transportation vehicles provided by third party transportation & logistics providers and customs house agents for delivery of finished products to its customers as well as raw materials to the company's Manufacturing Facility. Any delay in delivery of finished products or raw materials or increase in the charges of transportation charges by third party transportation & logistics providers and customs house agents could adversely affect its business, results of operations and financial condition. The company also may be exposed to the risk of theft, accidents and/or loss of its products in transit.
- Some of the premises where the company's Registered Office, Manufacturing Facility and other premises are located on leasehold lands or taken on leave and license basis. Failures to comply with the conditions of the use of such properties could result in an adverse impact on its business and operations. Further there can be no assurances that these lease or leave and license agreements will be renewed upon termination or that the company will be able to obtain other premises on lease or on lease/leave and license basis on same or similar commercial terms.
- The company's restated profit for Fiscals 2026, 2025 and 2024 was Rs. 846.81 million, Rs. 332.71 million and Rs. 89.54 million, respectively. Its historical performance is not indicative of the company future growth or financial results and if the company fails to implement its strategies, the company's business, results of operations and prospects could be adversely affected.
- The industry related disclosure in this Red Herring Prospectus has been derived from the F&S Report which the company has commissioned and purchased and any reliance on such information for making an investment decision in the Offer is subject to inherent risks.
- The company's Promoters and Promoter Group members will continue to retain significant control in the Company after the Offer which will allow them to influence the outcome of matters submitted to shareholders for approval. Such a concentration of ownership may also have the effect of delaying, preventing or deterring a change in control.
- The company is exposed to the risks of malfunctions or disruptions of information technology systems.
- The company's ability to pay dividend in the future will depends upon future earnings, financial condition, cash flows, working capital requirements, capital expenditures and restrictive terms of its financing arrangements.
- The proceeds from the Offer for Sale will be paid to the company's Promoter Selling Shareholders.
- The company has issued specified securities during the preceding 12 months from the date of this Red Herring Prospectus at a price which may be below the Offer Price.
- The company has in this Red Herring Prospectus included certain non-GAAP financial measures and certain other industry measures related to its operations and financial performance that may vary from any standard methodology that is applicable across the industry the company operates.
- The requirements of being a publicly listed company may strain its resources.
- Some of the company's Directors on its board does not possess experience of being on the board of a listed company.
The Issue type of Ardee Industries Ltd is Book Building.
The minimum application for shares of Ardee Industries Ltd is 281.
The total shares issue of Ardee Industries Ltd is 80351950.
Initial public offer of 80,351,950 equity shares of face value of Rs. 2 each ("Equity Shares") of Ardee Industries Limited ("Company" or "Issuer") for cash at a price of Rs. 53 per equity share (including a share premium of Rs. 51 per equity share) ("Offer Price") aggregating to Rs. 425.87 Crores comprising a fresh issue of 60,376,950 equity shares of face value of Rs. 2 each aggregating to Rs. 320.00 Crores by the company ("Fresh Issue") and an offer for sale of 19,975,000 equity shares of face value of Rs. 2 each aggregating to Rs. 105.87 Crores ("Offered Shares") comprising 9,987,500 equity shares of face value of Rs. 2 each aggregating to Rs. 52.93 Crores by Sandeep Aggarwal and 9,987,500 equity shares of face value of Rs. 2 each aggregating to Rs. 52.93 Crores by Nikunj Aggarwal (collectively, the "Promoter Selling Shareholders") and such offer for sale, together with the fresh issue, the "Offer". The offer constituted 25.49% of the post-offer paid up equity share capital of the company.
Price Band: Rs. 53 per equity share of face value of Rs. 2 each.
The floor price is 26.50 times of the face value of the equity shares.
Bids can be made for a minimum of 281 equity shares of face value of Rs. 2 each and in multiples of 281 equity shares of face value of Rs. 2 each thereafter.