Ardee Industries IPO price band set at ₹50-₹53 per share; check lot size and key dates

Lead recycler and manufacturer Ardee Industries Ltd has set a price band of ₹50-₹53 per share for its ₹405.86 crore initial public offering. The issue will open for subscription on August 5.

The bidding for anchor investors will take place on August 4. The IPO will conclude on August 7.

The initial share sale is a mix of fresh issuance of ₹320 crore and an offer for sale (OFS) of ₹105.86 crore by promoters Sandeep Aggarwal and Nikunj Aggarwal.

The fresh issue proceeds will be utilised for funding incremental working capital requirements, repayment of certain borrowings availed by the company and general corporate purposes.

"Our company expects that the listing of the equity shares will enhance our visibility and our brand image among our existing and potential customers and creation of a public market for our equity shares," according to the red herring prospectus.

Ardee Industries IPO: Lot size

A lot consists of 281 shares and multiples thereafter. Half of the net offer will be reserved for qualified institutional buyers, 35% for retail investors and 15% for non-institutional investors.

Ardee Industries IPO: Allotment and listing date

• Subscription period: August 5 to August 7
• Finalisation of basis of allotment: August 10
• Credit of equity shares to Demat account: August 11
• Listing of equity shares: August 12

Pantomath Capital Advisors Private Limited is the issue's sole book-running lead manager, while KFin Technologies is the registrar.

Shares of the company will be listed on the National Stock Exchange (NSE) and the BSE.

Ardee Industries is one of the leading domestic players in the circular economy, specialising in the environmentally responsible recovery and recycling of end-of-life energy stock products and non-ferrous scrap, while reclaiming critical resources from waste streams.

Its product portfolio consists of pure lead and lead alloys like lead calcium alloys, lead tin alloys, lead antimony alloys, lead silver alloys and lead cadmium alloys.