Ardee Industries listing today: Shares list at 35.8% premium over IPO price on NSE

Ardee Industries shares made a robust stock market debut on Wednesday, August 12. Shares of the energy storage recycler listed at ₹72 apiece on the National Stock Exchange (NSE), reflecting a premium of 35.8% over the initial public offering (IPO) issue price of ₹53 apiece.

On the BSE, Ardee Industries stock started trading at ₹73.6, up 38.8% from the issue price.

How much return investors made after Ardee Industries listing?

Ardee Industries IPO lot size was of 281 shares and cost ₹14,893 for retail investors. Investors who received Ardee Industries IPO allotment made ₹5,339 per lot, taking the value of their investment to ₹20,232, as per the listing price on the NSE.

On BSE, the listing day returns were slightly higher at ₹20,681.6 as the stock listed at ₹73.6 apiece.

Ardee Industries is engaged in eco-friendly recycling of energy storage products like lead-acid batteries and non-ferrous scrap metal recycling. The company’s initial public offering was subscribed 133.66 times between 5 and 7 August, with bids for 7,80,88,19,433 shares as against 5,84,22,516 shares on offer, according to the NSE data.

The ₹425.87 crore IPO comprised a fresh issue of equity shares worth ₹320 crore and an offer-for-sale (OFS) component of up to 1.99 crore shares valued at ₹105.87 crore by promoters Sandeep Aggarwal and Nikunj Aggarwal.

Ardee Industries Financials

Ardee Industries IPO objective

• Repayment of debts: The company will use ₹20 crore fund for repayment of certain borrowings availed by the company.
• Working capital: The company will use ₹220 crore for funding incremental working capital requirements of the company.
• General corporate purposes: Part of the IPO proceeds will be used for general corporate purposes, issue expenses.

About the company

Ardee Industries operates through a 7.61 acres facility in Tirupati district of Andhra Pradesh, located close to battery producers and near three ports such as Chennai, Kattupalli, and Ennore for facilitating domestic and international operations. The installed capacity has increased from 54,750 MTPA in FY24 to 156,950 MTPA as on the date of RHP.

As of March 31, 2026, the firm had more than 50 customers (44 domestic, 8 foreign) in the battery and metal industries. Amara Raja Energy & Mobility is the largest domestic customer, accounting for 40.6% of FY26 operating income. Sebang Metal Trading Co. Ltd is one of the important foreign customers of the company. The total contribution of the top 10 customers in FY26 is 91.6%.

The main inputs include battery scrap, remelted lead ingots/blocks, lead scrap, and lead master metal, which are available from 55 domestic and 165 foreign vendors in FY26.

Pure lead generated revenue of 56.4% in FY26, while that of lead alloy constituted 27.5%. Sales of scrap and others constituted the rest of the revenues in FY26. Domestically sold goods constituted 55.4% of total revenues, while exports generated 39.8% of revenue. Revenue from exports has shown a CAGR of 138.6% from FY24 to FY26. Singapore and Switzerland were the top two countries of exports in FY26.

The demand growth for recycled lead is fuelled by increased automotive manufacturing, increased installations of telecom towers, additional data centre capacities (estimated to cross 4,500 MW by 2030), and increased solar power backup applications.