Ardee Industries IPO share allotment was finalized on Monday following massive investor bidding that pushed total subscription to 133.66 times
Ardee Industries finalized its share allotment process on Monday, August 10, following an overwhelming response from market investors during its three-day bidding window. The New Delhi-headquartered metal recycling company saw its ₹426 crore public offering subscribed a massive 133.66 times overall between August 5 and August 7.
Investors who bid for the issue are now checking their status to see if they bagged any shares. The allotment messages and email alerts regarding the debit or unblocking of investor funds will go out by Tuesday, August 11. Meanwhile, the company’s equity shares are scheduled to officially list on the BSE and NSE on Wednesday, August 12.
The public offer attracted more than 41.2 lakh applications, generating total bids worth over ₹41,300 crore. High-net-worth investors showed the strongest interest, with the non-institutional investor portion getting booked 255.25 times. Qualified institutional buyers subscribed 197.77 times their allotted quota, while the retail category was subscribed 45.71 times.
The company had set its IPO price band between ₹50 and ₹53 per share, requiring a minimum retail investment of ₹14,893 for a single lot of 281 shares. The total issue size of ₹426 crore included a fresh issue of shares worth ₹320 crore and an offer-for-sale of ₹106 crore by existing shareholders.
Due to the heavy oversubscription, receiving an allotment was tough for applicants. In the retail segment, the probability of getting an allotment stood at approximately 2.7%, meaning only 1 out of every 37 retail applicants will secure a lot. Odds were even lower for non-institutional bidders owing to massive bidding volume in those tiers.
Following the high demand, the grey market premium for the company’s stock nearly doubled. Shares traded at an unofficial premium of ₹14 to ₹15 apiece ahead of listing. This indicates a potential listing gain of around 26% to 28% over the upper band price of ₹53.
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Incorporated in 1993, Ardee Industries is a key player in India’s circular economy and lead recycling sector. The company recovers used batteries and non-ferrous metal scrap to manufacture pure lead and specialized alloys. It operates a large-scale manufacturing plant in Tirupati, Andhra Pradesh, with an annual recycling capacity of 156,950 metric tonnes.
The company plans to use the net proceeds from the fresh issue to fund its growing working capital requirements and repay outstanding loans. Paying down existing borrowings will strengthen its balance sheet and lower its debt-to-equity ratio to 0.35 times, creating a stronger financial foundation for expansion.
Financially, the recycling firm has shown rapid top-line and bottom-line growth over recent years. Ardee Industries reported an operating revenue of ₹1,167.65 crore for fiscal year 2026, up from ₹742.74 crore in fiscal year 2025. Its net profit jumped to ₹84.68 crore in fiscal 2026, compared to ₹33.27 crore recorded in the previous year.
Successful applicants will have their shares credited directly to their demat accounts on Tuesday, August 11, right before trading begins. Strong financial momentum, reasonable issue pricing, and growing demand for recycled secondary metals have driven this enthusiasm among market participants.
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