Ardee Industries Limited
Promoters SANDEEP AGGARWAL · NIKUNJ AGGARWAL · ESHA GUPTA
Against an issue price of ₹53. Split- and bonus-adjusted official closes — a past move, never a forecast.
Ardee Industries Limited raised ₹650 crore through a mainboard initial public offer.
The filing places it in Non - Ferrous Metals and names three promoters: SANDEEP AGGARWAL, NIKUNJ AGGARWAL and ESHA GUPTA.
The book was open from 5 August 2026 to 7 August 2026.
The issue was priced at ₹53 a share, from a band of ₹50 to ₹53.
As of the exchange's 07-Aug-2026 19:00:00 update the book was subscribed 133.7 times the shares on offer, counting bids on NSE and BSE together.
Against their reserved portions: qualified institutional buyers 197.77 times, non-institutional investors 255.24 times and retail investors 45.71 times. Those portions add up to the whole offer; the sub-categories below each one are already counted inside it.
114.05 crore shares were bid at cut-off — applications that accept whatever price the issue is finally set at rather than naming one.
The shares listed on 12 August 2026.
The last official close on file is ₹52.08 (22 September 2026), which is 1.7% below the issue price.
It now trades as ARDEE, and its filed financials are on its company page.
Shares sold in the issue at ₹53 last closed at ₹52.08.
See ARDEE’s filed financials and price history →Official exchange closes, restated for splits, bonuses and rights issues since listing. A record of past price movement, not a forecast.
- Registrar
- Kfin Technologies Limited
- Lead manager
- Pantomath Capital Advisors Private Limited
- Bidding opens5 Aug 2026
- Bidding closes7 Aug 2026
- Basis of allotmentnot published
Not published in the exchange feeds we ingest — we do not estimate it.
- Listing12 Aug 2026
Investors have bid for 133.66 times the shares on offer. Each category below has its own reserved portion, and those portions add up to the whole offer.
This is a single reading. The exchange publishes only the current cumulative figure and no history, so a day-by-day curve exists only for issues we happened to be polling live.
Bids placed on NSE alone, excluding BSE. It is smaller than the 133.66x headline above and the two must never be compared or added together.
Every bid names a price, or accepts whatever the final price turns out to be. This shows how many shares have been bid for at each price or above it — so the bar at the top of the band counts only the bids willing to pay it.
The columns are near-identical because they are: demand falls only 0.05% between ₹50 and ₹53, so almost every bid was willing to pay the top of the band. The axis starts at zero — the flatness is the finding, not a missing scale.
These accept whatever price the issue is finally set at, so they have no place on the price axis and are not in the chart.
How much of the demand falls away between the bottom and the top of the band.
Cumulative shares bid at or above each price in the band, from the exchange's own demand schedule. Bids placed at cut-off carry no price and are counted separately.
We have not extracted an anchor allotment list for this issue.
- Anchor investors — first trancheSEBI ICDR 2018 Reg. 32(5)(b) — 50% of the anchor allocation, 30 days from allotment11 Sept 202650% of this tranche
- Anchor investors — second trancheSEBI ICDR 2018 Reg. 32(5)(a) — the remaining 50% of the anchor allocation, 90 days from allotment10 Nov 202650% of this tranche
- All other pre-issue capitalSEBI ICDR 2018 Reg. 17 — all other pre-issue capital, 6 months from allotment12 Feb 2027whole tranche releases on this date
- Promoters' minimum contributionSEBI ICDR 2018 Reg. 16(1)(a) — promoters' minimum contribution, 18 months from allotment12 Feb 2028whole tranche releases on this date
Computed from the SEBI ICDR 2018 lock-in rules, not disclosed by the issuer or the exchange. The regulation counts from the date of allotment, which no feed we ingest publishes, so these are counted from the listing date and fall at most two to three business days later than the true expiry.
Every offer document must set out the reasoning behind its own price: what the company earned in the years before it came to market, and what multiple of those earnings it is asking for. This is that chapter — the issuer’s argument for its price, not our assessment of it.
| Year | Basic | Diluted | Weight |
|---|---|---|---|
| FY2024 | ₹0.35 | ₹0.35 | 1 |
| FY2025 | ₹1.31 | ₹1.31 | 2 |
| FY2026 | ₹3.32 | ₹3.32 | 3 |
Weighted-average return on net worth over the same years: 51.55%.
Figures as printed in the offer document's "Basis for Offer Price" chapter. A record of the case the issuer made for its own price, not our valuation of it.
Restated figures the issuer is required to publish in its offer document, covering the years before it came to market.
| Line | FY2023 | FY2024 | FY2026 |
|---|---|---|---|
| Net cash from/ (used in) financing Activities(₹ million) | 543.52 | 133.43 | 38.36 |
| Net cash from/ (used in) investing Activities(₹ million) | -272.02 | -228.66 | -197.74 |
| Net cash from/ (used in) operating Activities(₹ million) | -252.62 | 78.4 | 298.25 |
| EBITDA(₹ million) | 280.57 | 659.34 | 1,470.82 |
| Basic Earnings per share(₹ per share) | 0.35 | 1.31 | 3.32 |
| Diluted Earnings per share(₹ per share) | 0.35 | 1.31 | 3.32 |
| Equity Share Capital(₹ million) | 31.85 | 31.85 | 509.65 |
| Net Asset Value per Share (in ₹)(₹ per share) | 1.15 | 2.46 | 5.78 |
| Net Worth(₹ million) | 292.49 | 626.01 | 1,473.8 |
| Profit after tax(₹ million) | 89.54 | 332.71 | 846.81 |
| Revenue from operations(₹ million) | 4,629.59 | 7,427.35 | 11,676.53 |
| Return on Net worth (RONW) (%)(%) | 30.61 | 53.15 | 57.46 |
| Total borrowings(₹ million) | 1,423.6 | 1,657.66 | 1,827.48 |
Figures as filed by the issuer in its offer document.
What the company says it will do with the money it raises. Only the fresh-issue portion reaches the company; anything raised through an offer for sale goes to the shareholders selling.
- Funding incremental working capital requirement of our Company2,200₹ million
- Repayment and/or pre-payment, in full or in part, of certain borrowings200₹ million
- General corporate purposes—
- Total—
Figures as filed by the issuer in its offer document.
The offer document must name the listed companies the issuer considers comparable, and print their valuation figures beside its own. This is that list — the issuer’s choice of comparison, not ours.
| Company | P/E | P/B | RoNW | EPS | Income |
|---|---|---|---|---|---|
| Gravita India Limited | 35.4 | — | 15.4% | 52.02 | ₹42,653 cr |
| Jain Resources Recycling Limitednot in our universe | 33.6 | — | 22.3% | 10.25 | ₹95,431 cr |
| Pondy Oxides & Chemicals Limited | 31.9 | — | 16.7% | 43.98 | ₹29,584 cr |
The issuer's own figures as printed at the head of the same table — its claim about itself, on the same basis as its claims about the companies below.
Figures as PRINTED by the issuer in its own offer document. The comparison set is the issuer's choice, not ours.
| Firm | Issues | Typical listing move | Below issue @30d | @90d | @180d |
|---|---|---|---|---|---|
Pantomath Capital Advisors Private Limited 2023 – 2026 | 15 2 measurable | +13.5% | 1 of 2 | — | — |
| Firm | Issues | Typical listing move | Below issue @30d | @90d | @180d |
|---|---|---|---|---|---|
Kfin Technologies Limited 2021 – 2026 | 127 30 measurable | +7.9% | 8 of 18 | 2 of 5 | 2 of 5 |
A count of what happened to the other issues each firm was named on, computed from exchange closes. Not a rating, not a ranking, and not a view on the firm.
- Prospectus· PDF · exchange archive10 Aug 2026
- Red herring prospectus (RHP)· ZIP · exchange archive27 Jul 2026
- Red herring prospectus (RHP)· ZIP · exchange archive
- Draft red herring prospectus (DRHP)· PDF · exchange archive28 Sept 2025
- Abridged prospectus· PDF · exchange archive28 Jul 2026
- Anchor investor allotment· ZIP · exchange archiveThis document is a scan with no text layer — readable by eye, not by machine.
- Financial ratios advertisement· ZIP · exchange archive
- In-principle approval (XBRL)· XML · exchange archive
Filed with SEBI and the exchanges by the issuer. These are the source for every figure on this page.
Compiled from NSE and SEBI offer documents and exchange feeds. A description of the issue and of the bids received — not investment advice, and not a view on whether to apply. No grey-market premium, no allotment lookup and no listing-gain estimate is published here.