Ardee Industries IPO listing on Wednesday; GMP signals healthy listing pop. Details here | Stock Market News
Ardee Industries IPO: After witnessing healthy overall subscription and with share allotment done, Ardee Industries shares appear set to debut on the Indian bourses on Wednesday, 12 August.
The initial public offering (IPO) of energy storage products and non-ferrous scrap recycler, Ardee Industries, concluded with a healthy subscription of 139 times.
Ardee Industries shares are attracting investors' attention in grey markets. The latest grey market premium (GMP) suggests the stock could list at a decent double-digit premium.
According to grey market sources, Ardee Industries' IPO GMP on Tuesday morning was ₹13.5. This suggests the stock could list at ₹66.5 on the BSE and the NSE, a premium of 25.5% to the issue price.
The highest GMP of the IPO over the last two weeks was ₹16. The current GMP reflects the expectations of the stock's strong listing.
The book-build issue of ₹425.87 crore combined a fresh issue of 6.04 crore shares to raise ₹320 crore, and an offer for sale (OFS) of 2 crore shares, aggregating to ₹105.87 crore.
Priced at ₹53 per share, the IPO opened for subscription on Wednesday, 5 August, and concluded on Friday, 7 August. Share allotment was finalised on Monday, 10 August.
As per the RHP, Ardee Industries specialises in the environmentally responsible recovery and recycling of end-of-life energy storage products and non-ferrous scrap, while reclaiming critical resources from waste streams.
"Our product portfolio comprises pure lead and lead alloys such as lead calcium alloys, lead antimony alloys, lead tin alloys, lead silver alloys and lead cadmium alloys, which find applications in critical industries including energy storage, e-mobility, automotive, chemical, among others," reads the RHP.
For FY24, the company's revenue from operations stood at ₹462.96 crore, which increased to ₹742.74 crore in FY25, and to ₹1,167.65 crore in FY26. Profit in FY24, FY25, and FY26 were ₹8.95 crore, ₹33.27 crore, and ₹84.68 crore, respectively.
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