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Ardee Industries Ltd IPO
Status: Upcoming
Overview
IPO date
05 Aug 2026 to 07 Aug 2026
Face value
₹ 2 per share
Price
₹ 50 to ₹53 per share
Issue Size
80,352,358 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
- We served 52, 54 and 54 customers for the Fiscals 2026, 2025 and 2024. The revenue from our 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 our business, financial condition, results of operations and cash flows.
- During the Fiscals 2026, 2025 and 2024, 84.79%, 87.23% and 88.64% of our revenue from operations, respectively, was attributed to the battery and metal industries and therefore our business operations are dependent upon the said industries. Any downturn in the demand of battery and metal industries and the other industries in which our customers operate, could adversely affect our business, financial performance and condition.
- We depend on third party suppliers for the supply of raw material required for our business operations. Any disruptions in the supply or availability of the raw material or fluctuations in their prices may have an adverse impact on our business operations, cash flows and financial performance. Further, our cost of raw material purchased from our 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 our total purchases of raw materials in the Fiscals 2026, 2025 and 2024, respectively.
- We have a limited operating history, and our historical performance may not be indicative of our future growth or financial results.
- Our debt-to-equity ratio, as per our 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 our financial condition and results of operations.
- We operate in a labour-intensive industry and dependent on contract labour for our 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 our operations.
- Any adverse revision to our credit rating by rating agencies may adversely affect our ability to raise additional financing and the interest rates and other commercial terms at which such funding is available.
- Our inability to comply with repayment and other covenants in the financing agreements or otherwise meet our debt servicing obligations could adversely affect our business, financial condition, cash flows and credit rating. Further, we are subject to risks arising from interest rate fluctuations, which could reduce our profitability and adversely affect our business, financial condition and results of operations.
- We derived about 83.68% to 92.80% of our 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 our business, results of operations, financial condition and cash flows.
- Out of our Revenue from Operations from 12 states/union territories across India, more than 40.84% of our revenue from operations during the Fiscal 2026 was derived from Andhra Pradesh. Further out of our 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 our operations and adversely affect our 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 our business, results of operations, prospects and financial condition.
- Any under-utilization of capacity of our Manufacturing Facility and an inability to effectively optimize its operations may have an adverse effect on our business and future financial performance. Further, information relating to the installed capacity and capacity utilization of our manufacturing operations included in this Red Herring Prospectus are based on various assumptions and estimates and future manufacturing capacity may vary.
- Our operations require 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 our production schedules, costs, sales and ability to meet customer demand.
- Conflict of interest may arise out of common business objects shared by our Company and one of our 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 our business, results of operations and financial condition.
- We are subject to strict quality requirements and are required to incur significant expenses to maintain our product quality as per industry standards. Any failure to comply with such industry standards may lead to cancellation of existing and future orders which may adversely affect our reputation, financial conditions, cash flows and results of operations.
- Our existing international operations and our plans to expand our customer base into such overseas markets subject us to various business, economic, political, regulatory and legal risks.
- There have been certain instances of delays in the payment of statutory dues by our Company in the past. Any delay in payment of statutory dues by our Company in future, may result in the imposition of penalties and in turn may have an adverse effect on our Company's business, financial condition, results of operation and cash flows.
- We are exposed to foreign currency exchange rate fluctuations, which may impact our results of operations and cause our 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 our 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 our operations and increase our production costs, which could adversely affect our results of operations.
- We have experienced negative cash flows in the past and may continue to do so in the future and the same may adversely affect our cash flow requirements, which in turn may adversely affect our ability to operate our business and implement our growth plans, thereby affecting our financial condition.
- Our contingent liabilities as stated in the Restated Financial Information could adversely affect our 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 our historical corporate records and filings made by us are not traceable or have certain discrepancies or have been filed with a delay. Further, our 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.
- We do not have long-term agreements with our customers. In order to retain some of our existing customers we may also be required to offer terms which we may place restraints on our resources.
- We have substantial capital requirements and may require additional capital and financing in the future and our operations could be curtailed if we are unable to obtain the required additional capital and financing when needed.
- Our Company has in the last three Fiscals entered into related party transactions with our 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 our financial condition and results of operations.
- Our 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 our control.
- Our manufacturing operations are 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 our operations and adversely affect our business, results of operations and financial conditions.
- Our success depends on our ability to execute our growth strategies. If we are unable to sustain or manage our growth, our business, results of operations, cash flows and financial condition may be adversely affected.
- Our inability to maintain, protect and use our intellectual property may adversely affect our results of operations.
- If we do not continue to invest in new technologies and equipment, our technologies and equipment may become obsolete and our cost of processing may increase relative to our competitors, which may have an adverse impact on our business, results of operations, and financial condition.
- As of the date of this Red Herring Prospectus, there are certain outstanding legal proceedings involving our Company and Promoters. However, any future litigation involving these parties may adversely affect our business, financial condition, and results of operations.
- We face competition from domestic lead and metal recycling companies (from both organized and unorganized players) and primary lead suppliers and our inability to compete effectively may have a material adverse impact on our business, results of operations and financial condition.
- We are highly dependent on experience and skill of our management team and a number of Key Managerial Personnel (KMP), Senior Management and skilled personnel for our day-to-day operations. If we lose such personnel or are unable to attract or retain such personnel, we may not be able to maintain client relationships and grow effectively, which may have a material adverse effect on our business performance.
- We are subject to various environmental, health and safety laws and regulations and failure to comply with such laws and regulations or if we do not obtain, renew, or maintain the statutory and regulatory permits and approvals required to operate our business could impose substantial cost upon us.
- Our insurance coverage may not be adequate to protect us against all potential losses, which may have a material adverse effect on our business, financial condition, cash flows and results of operations.
- If we are unable to establish and maintain an effective internal controls and compliance systems, our business and reputation could be adversely affected.
- Our inability to collect receivables in time or at all, and any default in payment from our customers, could result in the reduction of our profits and affect our cash flows.
- Our 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 our reputation, any of which could form a material adverse effect on our business.
- We use fleet of transportation vehicles provided by third party transportation & logistics providers and customs house agents for delivery of finished products to our customers as well as raw materials to our 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 our business, results of operations and financial condition. We also may be exposed to the risk of theft, accidents and/or loss of our products in transit.
- Some of the premises where our Registered Office, Manufacturing Facility and other premises are located on leasehold lands or taken on leave and license basis. Failure to comply with the conditions of the use of such properties could result in an adverse impact on our business and operations. Further there can be no assurances that these lease or leave and license agreements will be renewed upon termination or that we will be able to obtain other premises on lease or on lease/ leave and license basis on same or similar commercial terms.
- Our restated profit for Fiscals 2026, 2025 and 2024 was Rs. 846.81 million, Rs. 332.71 million and Rs. 89.54 million, respectively. Our historical performance is not indicative of our future growth or financial results and if we fail to implement our strategies, our 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 we have commissioned and purchased and any reliance on such information for making an investment decision in the Offer is subject to inherent risks.
- Our Promoters and Promoter Group members will continue to retain significant control in our 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.
- We are exposed to the risks of malfunctions or disruptions of information technology systems.
- Our ability to pay dividend in the future will depend upon future earnings, financial condition, cash flows, working capital requirements, capital expenditures and restrictive terms of our financing arrangements.
- The proceeds from the Offer for Sale will be paid to our Promoter Selling Shareholders.
- We have 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.
- We have in this Red Herring Prospectus included certain non-GAAP financial measures and certain other industry measures related to our operations and financial performance that may vary from any standard methodology that is applicable across the industry we operate.
- The requirements of being a publicly listed company may strain our resources.
- Some of our Directors on our board do 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
Consolidated
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 Ardee Industries Private Limited', 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 and the name of the Company was changed to Ardee Industries Limited' issued by the Registrar of Companies, 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 during the year. 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 operate a manufacturing plant in Tirupati District of Andhra Pradesh having the installed capacity of 1,04,025 MPTA.
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.
Company is planning the IPO by raising a fresh issue of Rs 320 Cr Equity Shares having face value of Rs 2 each and by issuing 37,650,000 Equity Shares through offer for sale.
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 | 31.79 |
| 2 | Nikunj Aggarwal | 115762850 | 45.43 | 105775350 | 31.56 |
| 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 | 0.24 |
- We served 52, 54 and 54 customers for the Fiscals 2026, 2025 and 2024. The revenue from our 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 our business, financial condition, results of operations and cash flows.
- During the Fiscals 2026, 2025 and 2024, 84.79%, 87.23% and 88.64% of our revenue from operations, respectively, was attributed to the battery and metal industries and therefore our business operations are dependent upon the said industries. Any downturn in the demand of battery and metal industries and the other industries in which our customers operate, could adversely affect our business, financial performance and condition.
- We depend on third party suppliers for the supply of raw material required for our business operations. Any disruptions in the supply or availability of the raw material or fluctuations in their prices may have an adverse impact on our business operations, cash flows and financial performance. Further, our cost of raw material purchased from our 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 our total purchases of raw materials in the Fiscals 2026, 2025 and 2024, respectively.
- We have a limited operating history, and our historical performance may not be indicative of our future growth or financial results.
- Our debt-to-equity ratio, as per our 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 our financial condition and results of operations.
- We operate in a labour-intensive industry and dependent on contract labour for our 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 our operations.
- Any adverse revision to our credit rating by rating agencies may adversely affect our ability to raise additional financing and the interest rates and other commercial terms at which such funding is available.
- Our inability to comply with repayment and other covenants in the financing agreements or otherwise meet our debt servicing obligations could adversely affect our business, financial condition, cash flows and credit rating. Further, we are subject to risks arising from interest rate fluctuations, which could reduce our profitability and adversely affect our business, financial condition and results of operations.
- We derived about 83.68% to 92.80% of our 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 our business, results of operations, financial condition and cash flows.
- Out of our Revenue from Operations from 12 states/union territories across India, more than 40.84% of our revenue from operations during the Fiscal 2026 was derived from Andhra Pradesh. Further out of our 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 our operations and adversely affect our 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 our business, results of operations, prospects and financial condition.
- Any under-utilization of capacity of our Manufacturing Facility and an inability to effectively optimize its operations may have an adverse effect on our business and future financial performance. Further, information relating to the installed capacity and capacity utilization of our manufacturing operations included in this Red Herring Prospectus are based on various assumptions and estimates and future manufacturing capacity may vary.
- Our operations require 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 our production schedules, costs, sales and ability to meet customer demand.
- Conflict of interest may arise out of common business objects shared by our Company and one of our 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 our business, results of operations and financial condition.
- We are subject to strict quality requirements and are required to incur significant expenses to maintain our product quality as per industry standards. Any failure to comply with such industry standards may lead to cancellation of existing and future orders which may adversely affect our reputation, financial conditions, cash flows and results of operations.
- Our existing international operations and our plans to expand our customer base into such overseas markets subject us to various business, economic, political, regulatory and legal risks.
- There have been certain instances of delays in the payment of statutory dues by our Company in the past. Any delay in payment of statutory dues by our Company in future, may result in the imposition of penalties and in turn may have an adverse effect on our Company's business, financial condition, results of operation and cash flows.
- We are exposed to foreign currency exchange rate fluctuations, which may impact our results of operations and cause our 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 our 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 our operations and increase our production costs, which could adversely affect our results of operations.
- We have experienced negative cash flows in the past and may continue to do so in the future and the same may adversely affect our cash flow requirements, which in turn may adversely affect our ability to operate our business and implement our growth plans, thereby affecting our financial condition.
- Our contingent liabilities as stated in the Restated Financial Information could adversely affect our 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 our historical corporate records and filings made by us are not traceable or have certain discrepancies or have been filed with a delay. Further, our 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.
- We do not have long-term agreements with our customers. In order to retain some of our existing customers we may also be required to offer terms which we may place restraints on our resources.
- We have substantial capital requirements and may require additional capital and financing in the future and our operations could be curtailed if we are unable to obtain the required additional capital and financing when needed.
- Our Company has in the last three Fiscals entered into related party transactions with our 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 our financial condition and results of operations.
- Our 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 our control.
- Our manufacturing operations are 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 our operations and adversely affect our business, results of operations and financial conditions.
- Our success depends on our ability to execute our growth strategies. If we are unable to sustain or manage our growth, our business, results of operations, cash flows and financial condition may be adversely affected.
- Our inability to maintain, protect and use our intellectual property may adversely affect our results of operations.
- If we do not continue to invest in new technologies and equipment, our technologies and equipment may become obsolete and our cost of processing may increase relative to our competitors, which may have an adverse impact on our business, results of operations, and financial condition.
- As of the date of this Red Herring Prospectus, there are certain outstanding legal proceedings involving our Company and Promoters. However, any future litigation involving these parties may adversely affect our business, financial condition, and results of operations.
- We face competition from domestic lead and metal recycling companies (from both organized and unorganized players) and primary lead suppliers and our inability to compete effectively may have a material adverse impact on our business, results of operations and financial condition.
- We are highly dependent on experience and skill of our management team and a number of Key Managerial Personnel (KMP), Senior Management and skilled personnel for our day-to-day operations. If we lose such personnel or are unable to attract or retain such personnel, we may not be able to maintain client relationships and grow effectively, which may have a material adverse effect on our business performance.
- We are subject to various environmental, health and safety laws and regulations and failure to comply with such laws and regulations or if we do not obtain, renew, or maintain the statutory and regulatory permits and approvals required to operate our business could impose substantial cost upon us.
- Our insurance coverage may not be adequate to protect us against all potential losses, which may have a material adverse effect on our business, financial condition, cash flows and results of operations.
- If we are unable to establish and maintain an effective internal controls and compliance systems, our business and reputation could be adversely affected.
- Our inability to collect receivables in time or at all, and any default in payment from our customers, could result in the reduction of our profits and affect our cash flows.
- Our 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 our reputation, any of which could form a material adverse effect on our business.
- We use fleet of transportation vehicles provided by third party transportation & logistics providers and customs house agents for delivery of finished products to our customers as well as raw materials to our 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 our business, results of operations and financial condition. We also may be exposed to the risk of theft, accidents and/or loss of our products in transit.
- Some of the premises where our Registered Office, Manufacturing Facility and other premises are located on leasehold lands or taken on leave and license basis. Failure to comply with the conditions of the use of such properties could result in an adverse impact on our business and operations. Further there can be no assurances that these lease or leave and license agreements will be renewed upon termination or that we will be able to obtain other premises on lease or on lease/ leave and license basis on same or similar commercial terms.
- Our restated profit for Fiscals 2026, 2025 and 2024 was Rs. 846.81 million, Rs. 332.71 million and Rs. 89.54 million, respectively. Our historical performance is not indicative of our future growth or financial results and if we fail to implement our strategies, our 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 we have commissioned and purchased and any reliance on such information for making an investment decision in the Offer is subject to inherent risks.
- Our Promoters and Promoter Group members will continue to retain significant control in our 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.
- We are exposed to the risks of malfunctions or disruptions of information technology systems.
- Our ability to pay dividend in the future will depend upon future earnings, financial condition, cash flows, working capital requirements, capital expenditures and restrictive terms of our financing arrangements.
- The proceeds from the Offer for Sale will be paid to our Promoter Selling Shareholders.
- We have 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.
- We have in this Red Herring Prospectus included certain non-GAAP financial measures and certain other industry measures related to our operations and financial performance that may vary from any standard methodology that is applicable across the industry we operate.
- The requirements of being a publicly listed company may strain our resources.
- Some of our Directors on our board do 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 80352358.
Initial public offer of up to 80,352,358 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 up to Rs. 425.87 Crores comprising a fresh issue of up to 60,377,358 equity shares of face value of Rs. 2/- each aggregating up to Rs. 320.00 Crores by the company ("Fresh Issue") and an offer for sale of up to 19,975,000 equity shares of face value of Rs. 2/- each aggregating up to Rs. 105.87 Crores ("Offered Shares") comprising up to 9,987,500 equity shares of face value of Rs. 2/- each aggregating up to Rs. 52.93 Crores by Sandeep Aggarwal and up to 9,987,500 equity shares of face value of Rs. 2/- each aggregating up 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 shall constitute [*]% of the post-offer paid up equity share capital of the company.
Price Band: Rs. 50 to Rs. 53 per equity share of face value of Rs. 2 each.
The floor price is 25.00 times of the face value of the equity shares and the cap 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.