Ardee Industries IPO GMP today is Rs 17. Investors can use this GMP along with price band and subscription status for a better IPO review.
Closed
Mainboard IPO
ARDEEIND
Ardee Industries IPO GMP & Allotment
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.
- IPO Price Band
- ₹50.00 - ₹53.00
- Lot Size
- 281 Shares
- Bidding Closes
- 07 Aug 2026
- Listing Date
- 12 Aug 2026
Quick Answer & Highlights
Ardee Industries IPO GMP Today & Key Takeaways
Last updated: 07 Aug 2026
As of 07 Aug 2026, the latest Grey Market Premium (GMP) for Ardee Industries IPO is ₹17, pointing to an estimated listing price of Est. ₹70 (+32.08% expected listing gain over the upper price band of Rs 53.00). Public bidding has closed. The basis of allotment is expected on 10 Aug 2026, ahead of stock exchange listing on 12 Aug 2026.
As of 07 Aug 2026, the latest Grey Market Premium (GMP) for Ardee Industries IPO is ₹17, pointing to an estimated listing price of Est. ₹70 (+32.08% expected listing gain over the upper price band of ₹53.00). Bidding has closed. The basis of allotment is expected on 10 Aug 2026, ahead of stock exchange listing on 12 Aug 2026.
| Key Metric | Figure | Status / Context |
|---|---|---|
| Current GMP | ₹17 | +32.08% vs upper band (07 Aug 2026) |
| Est. Listing Price | Est. ₹70 | +32.08% Est. Listing Gain |
| Price Band | ₹50.00 - ₹53.00 | Mainboard IPO |
| Retail Minimum Investment | ₹14,893 | 1 Lot (281 Shares) |
| Bidding Window | 05 Aug 2026 – 07 Aug 2026 | Closed |
| Allotment & Listing Dates | Allotment: 10 Aug 2026 | Listing: 12 Aug 2026 |
Current GMP Status
₹17
+32.08% vs upper band
Est. Listing Gain
+32.08%
Last Trend
07 Aug 2026
Listing Price
Est. ₹70
Retail Entry
₹14,893
IPO Details
Complete IPO information
| IPO Open Date | 05 Aug 2026 |
|---|---|
| IPO Close Date | 07 Aug 2026 |
| IPO Price Band | ₹50.00 - ₹53.00 |
| Lot Size | 281 Shares |
| Current GMP | ₹17 |
| Estimated Listing Gain | +32.08% |
| Issue Size | Approx ₹425.87 Cr |
| Fresh Issue | - |
| Issue Type | Mainboard |
| IPO Listing | BSE, NSE |
| Retail Quota | TBA |
| Registrar | TBA |
| Overall Subscription | 133.66x |
| Minimum Investment | ₹14,893 |
| DRHP Draft Prospectus | |
| RHP Draft Prospectus | - |
Demand Tracker
Subscription Status
| Category | Shares Reserved | Shares Applied | Subscription (x) |
|---|---|---|---|
| QIB | 164.35 | 32,504.36 | 197.77xx |
| NII | 125.96 | 32,150.59 | 255.24xx |
| Retail | 293.91 | 13,433.22 | 45.71xx |
| Overall Subscription | 584.22 | 78,088.17 | 133.66xx |
Analysis
IPO Snapshot & Investor Takeaways
At the upper end of its price band, Ardee Industries is priced at ₹53 per share. With a minimum lot size of 281 shares, a retail investor applying for one lot would need approximately ₹14,893 to participate in this Mainboard issue.
The latest recorded Grey Market Premium for Ardee Industries stands at ₹17, implying an estimated listing gain of around 32.08% over the issue price if it holds until listing. GMP reflects informal grey-market sentiment rather than a guaranteed outcome, and can change at any point until the day of listing.
As of the latest update, Ardee Industries's IPO was subscribed 133.66x overall, with a category-wise breakdown of Retail 45.71x, QIB 197.77x, NII 255.24x.
Among the strengths highlighted in Ardee Industries's IPO documents: 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..
Investors should also weigh the risk factors Ardee Industries has disclosed, including: Significant revenue concentration, with the top customer contributing 40.64% of revenue from operations..
A share of Ardee Industries's issue proceeds is earmarked for Repayment Of Borrowings: 20 (6.25%).
Mainboard IPOs list on the main platform of BSE/NSE, typically involve larger issue sizes, and draw participation across retail, HNI and institutional (QIB) investor categories.
Timeline
IPO roadmap at a glance
✓
Bidding Opens
05 Aug 2026
✓
Bidding Closes
07 Aug 2026
03
Allotment Next
10 Aug 2026
04
Listing
12 Aug 2026
| Event / Milestone | Scheduled Date | Status |
|---|---|---|
| Bidding Opens | 05 Aug 2026 | Completed |
| Bidding Closes | 07 Aug 2026 | Completed |
| Allotment | 10 Aug 2026 | Next Milestone |
| Listing | 12 Aug 2026 | Pending |
Grey Market Premium
Daily GMP status
| Date | GMP | Change | Gain |
|---|---|---|---|
| 07 Aug 2026 | ₹15.00 | - | 28.30% |
| 06 Aug 2026 | ₹15.00 | +₹8.00 | 28.30% |
| 03 Aug 2026 | ₹7.00 | - | 13.21% |
Swipe to see more →
Market Lot
Application size breakdown
| Category | Lots | Shares | Amount |
|---|---|---|---|
| Retail Minimum | 1 Lot | 281 | ₹14,893 |
| Retail Maximum | 13 Lot | 3,653 | ₹1,93,609 |
| S-HNI Minimum | 14 Lot | 3,934 | ₹2,08,502 |
| S-HNI Maximum | 67 Lot | 18,827 | ₹9,97,831 |
| B-HNI Minimum | 68 Lot | 19,108 | ₹10,12,724 |
Swipe to see more →
Fund Utilization
Objects of the Issue & Official Documents
- Repayment Of Borrowings 20 (6.25%)
- Working Capital 220 (68.75%)
- General Corporate Purpose 80 (25%)
Issue Notes
Important takeaways before applying
Strengths
- 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.
Risks
- Significant revenue concentration, with the top customer contributing 40.64% of revenue from operations.
- High dependency on the battery and metal industries, which contributed 84.79% of operational revenue.
- A substantial portion of raw materials is sourced from a limited number of suppliers.
- Potential for conflict of interest exists with a group company, Pilot Industries Limited, engaged in a similar business.
- Business is vulnerable to the decline of lead-acid batteries due to the rising adoption of lithium-ion technology.
Analysis
Ardee Industries IPO Reservation
The Ardee Industries IPO follows the SEBI-prescribed reservation structure for a Book Built Issue. The issue is allocated across different categories of investors, including Qualified Institutional Buyers (QIBs), Non-Institutional Investors (NIIs), and Retail Individual Investors (RIIs). The category-wise allocation is intended to ensure broad participation from institutional and retail investors.
The reservation details available for the IPO are provided below. The exact number of shares for each category will be announced by the company in the final offer documents.
| Investor Category | Shares Offered | Reservation (%) |
|---|---|---|
| Anchor Investor | – Shares | –% |
| Qualified Institutional Buyers (QIB) (Excluding Anchor) | – Shares | 50% |
| Non-Institutional Investors (NII) | – Shares | 15% |
| Retail Individual Investors (RII) | – Shares | 35% |
Note: The exact number of shares reserved for each investor category will be disclosed before the IPO opens. The final allocation will be carried out in accordance with SEBI regulations and the Basis of Allotment after the issue closes.
Analysis
Ardee Industries IPO Anchor Investors
Before the public subscription opens, Ardee Industries Limited may allocate a portion of its IPO to eligible Anchor Investors. Anchor investors are Qualified Institutional Buyers (QIBs) who participate in the issue one working day before the IPO opens, helping establish price discovery and enhancing investor confidence in the public offering.
The details below provide information about the anchor bidding schedule, proposed allocation, issue size, and the applicable SEBI-prescribed lock-in periods. The final list of anchor investors will be released after the completion of the anchor allocation process.
| Particular | Details |
|---|---|
| Anchor Bidding Date | August 4, 2026 |
| Anchor Investors List | |
| Shares Offered | [.] Shares |
| Anchor Issue Size | [.] Crores |
| Lock-in Period End Date (50% Shares – 30 Days) | 2026 |
| Lock-in Period End Date (Remaining 50% Shares – 90 Days) | 2026 |
Note: The final anchor investor list, total shares allotted, anchor issue size, and exact lock-in period end dates will be updated after the completion of the anchor allocation. The lock-in period is governed by applicable SEBI regulations.
Analysis
Ardee Industries IPO Dates
| Particular | Dates |
|---|---|
| IPO Open Date | 05 Aug 2026 |
| IPO Close Date | 07 Aug 2026 |
| Basis of Allotment | 10 Aug 2026 |
| Refunds | - |
| Credit to Demat Account | - |
| IPO Listing Date | 12 Aug 2026 |
Note: The timeline for Ardee Industries IPO is tentative and subject to change.
Analysis
Ardee Industries IPO Promoters and Holding Pattern
The promoters of Ardee Industries Limited have played a significant role in establishing and expanding the company's business operations. Even after the completion of the IPO, the promoters will continue to hold a majority stake in the company, demonstrating their long-term commitment to its future growth and strategic direction.
The public issue will lead to a dilution in promoter shareholding due to the fresh issue of equity shares and the Offer for Sale (OFS). The shareholding pattern before and after the IPO is summarized below.
Promoters of Ardee Industries Limited
- Sandeep Aggarwal
- Nikunj Aggarwal
- Esha Gupta
| Category | Pre IPO Shares | Pre IPO Holding | Post IPO Shares | Post IPO Holding |
|---|---|---|---|---|
| Promoter and Promoter Group | 23,31,25,700 | 91.48% | 21,31,50,700 | 67.62% |
| Others* | 2,16,98,300 | 8.52% | 10,20,50,658 | 32.38% |
| Total | 25,48,24,000 | 100% | 31,52,01,358 | 100% |
Note: The post-IPO shareholding pattern is based on the proposed issue structure and may change depending on the final allotment and completion of the IPO. The promoters are expected to retain a controlling stake in Ardee Industries Limited after listing.
Analysis
Ardee Industries Objects of the Issue & Utilisation of Proceeds
To Be Updated Soon
Analysis
Ardee Industries About Ipo
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.
Analysis
Ardee Industries Company Financials
To Be Updated Soon
Analysis
Ardee Industries Company Valuation – FY2026
To Be Updated Soon
Analysis
Ardee Industries IPO Peer Group Comparison
To Be Updated Soon
Analysis
IPO Lead Managers aka Merchant Bankers
- Pantomath Capital Advisors Pvt. Ltd.
Comparison
Compare Ardee Industries IPO with similar IPOs
FAQ
Ardee Industries IPO FAQs
Based on the latest Grey Market Premium (GMP) of Rs 17 and an issue price of Rs 53, the estimated listing price for Ardee Industries IPO is Rs 70.00 (approx 32.08% listing gain). Actual listing price is determined by market demand on the listing day.
Ardee Industries IPO price band is Rs 50.00 to Rs 53.00. Check the latest issue price, lot size and GMP together before applying.
Ardee Industries IPO open date is 05 Aug 2026, close date is 07 Aug 2026, and listing date is 12 Aug 2026.
Ardee Industries IPO lot size is 281 shares. The minimum retail investment is Rs 14,893.
Ardee Industries is classified as a Mainboard IPO. This helps investors quickly understand the issue category and exchange segment.
Ardee Industries IPO subscription status currently shows Retail 45.71x, QIB 197.77x, NII 255.24x, Overall 133.66x.
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.
Ardee Industries IPO issue size is 425.87 and the expected allotment date is 10 Aug 2026.
In our empirical study of 117 Indian IPO listings, positive GMP was followed by a positive listing gain 69.8% of the time. However, as an exact forecast, the median variation between GMP-implied gain and actual listing price was 8 percentage points. GMP reflects informal market sentiment and should always be evaluated alongside company valuation and fundamentals.
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