Ardee Industries, a leading player in the secondary metals and circular economy sectors, has raised ₹127.75 crore from anchor investors ahead of its initial public offering (IPO), which opens for public subscription on Wednesday, August 5, 2026.
The company informed the exchanges that it allocated 2,41,05,584 equity shares to anchor investors at ₹53 per share.
The anchor book saw participation from a diverse set of investors, including Bank of India Small Cap Fund, Ashish Kacholia-led Bengal Finance & Investment Pvt Ltd, Rohit Kothari-led Winro Commercial (India) Limited, The Wealth Company Alternates Trust – Bharat Value Fund, India Max Investment Fund Limited, Sundar Iyer-led Cognizant Capital Dynamic Opportunities Fund – Investment Account, and IMAP India Capital Investment Trust – Catalyst New India Fund, the company said.
IPO details
The company will launch its initial public offering (IPO) on August 5 to raise up to ₹426 crore through a combination of a fresh issue and an offer for sale (OFS).
The offer comprises a fresh issue of equity shares aggregating up to ₹320 crore and an offer for sale of up to 1,99,75,000 equity shares by certain promoter selling shareholders, including up to 99,87,500 equity shares each by Sandeep Aggarwal and Nikunj Aggarwal.
Of the proceeds from the fresh issue, ₹220 crore will be used to fund the company’s incremental working capital requirements, ₹20 crore will be utilised for debt repayment, and the remaining amount will be used for general corporate purposes.
The price band for the issue has been fixed at ₹50-53 per equity share. Investors can bid for a minimum of 281 equity shares and multiples of 281 shares thereafter.
The issue has reserved 50% for qualified institutional buyers (QIBs), 35% for retail investors, and the remaining 15% for non-institutional investors (NIIs).
Earlier last week, the company also completed a pre-IPO secondary transaction worth ₹115 crore at ₹53 per equity share.
Marquee investors, including Ashish Kacholia, Bharat Value Fund, Winro Commercial (India) Limited, Gagandeep Consultancy Private Limited, Urjita Jagdish Master, Shruti Gagan Chaturvedi, Jaisinghani Family Office, and Meru Investment Fund, participated in the transaction.
The combined pre-IPO transaction and anchor book participation reflect strong institutional interest in the company, signalling robust investor confidence ahead of the public issue.
Pantomath Capital Advisors Private Limited is the book-running lead manager to the issue.
About the company
Ardee Industries operates in the circular economy segment, focusing on the recovery and recycling of end-of-life energy storage products and non-ferrous scrap. The company also reclaims critical resources from waste streams and manufactures pure lead and lead alloys used across industries such as energy storage, e-mobility, automotive, and chemicals.
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