Ardee Industries has submitted preliminary documents to the Securities and Exchange Board of India (SEBI) to initiate an Initial Public Offering (IPO), which includes a fresh issue of equity shares valued at ₹320 crore. According to the Draft Red Herring Prospectus (DRHP) filed on Sunday, the IPO will also feature an Offer For Sale (OFS) of 3.76 crore equity shares by the company’s promoters.
Of the freshly issued capital, ₹220 crore is intended to finance the company’s working capital requirements, ₹22 crore is allocated for debt repayment, and the remaining funds will be utilized for general corporate purposes.
Ardee Industries is a significant player in the circular economy, focusing on the environmentally responsible recovery and recycling of end-of-life energy storage products and non-ferrous scrap, while reclaiming essential resources from waste streams. Their product line includes pure lead and lead alloys such as lead-calcium, lead-antimony, lead-tin, lead-silver, and lead-cadmium alloys, which are used in critical sectors including energy storage, e-mobility, automotive, and chemicals.
As of March 31, 2025, the company serves over 50 clients across a range of industries, including battery and metal sectors, in both domestic and international markets. Its export operations extend to seven countries: Singapore, Hong Kong, South Korea, Switzerland, the United Arab Emirates, Japan, and the United States. Domestically, Ardee Industries operates across ten Indian states.
The company has a manufacturing facility located in Andhra Pradesh with an installed capacity of 104,025 million Tonnes Per Annum (MTPA). Pantomath Capital Advisors has been appointed as the book-running lead manager for the IPO.
Published on September 29, 2025.
