About
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 schedule
| Issue open date |
2026-08-05 |
| Issue close date |
2026-08-07 |
| UPI mandate deadline |
2026-08-07 (5 PM) |
| Allotment finalization |
2026-08-10 |
| Refund initiation |
2026-08-11 |
| Share credit |
2026-08-11 |
| Listing date |
2026-08-12 |
| Mandate end date |
2026-08-22 |
| Lock-in end date for anchor investors (50%) |
2026-09-08 |
| Lock-in end date for anchor investors (remaining) |
2026-11-07 |
Financials
| Financial Year Ended |
March 2024 |
March 2025 |
March 2026 |
| Total Assets |
196.12 |
262.06 |
363.33 |
| Revenue |
463.39 |
743.53 |
1168.88 |
| Profit After Tax |
8.95 |
33.27 |
84.68 |
Issue size
| Funds Raised in the IPO |
Amount (₹ Cr.) |
| Total issue size |
425.87 |
| Fresh Issue - Proceeds go to the company |
320 |
Offer for sale - Proceeds go to the existing investors
|
105.87 |
Utilisation of proceeds
| Purpose |
INR crores (%) |
| Funding incremental working capital requirements |
220 (68.75%) |
| Repayment and/or pre-payment of certain company borrowings |
20 (6.25%) |
| General corporate purposes |
80 (25%) |
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.
Allotment Status for Ardee Industries
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- Visit the Kfin Technologies IPO Application Status page.
- Select the company name from the dropdown menu.
- Select and enter one of the following: PAN, Application Number, DP/Client ID, or Account Number/IFSC.
- Click Submit to view your allot