Ardee Industries IPO Filing: Circular economy leader eyes public offer to raise Rs 320 crore
Ardee Industries filed its DRHP with SEBI for an IPO, including a Rs 320 crore fresh equity issue and promoter OFS. Proceeds will fund working capital and debt repayment. A key player in the circular economy, Ardee recycles end-of-life energy storage products and non-ferrous scrap, supplying critical lead alloys to global battery and metals sectors.
New Delhi: Ardee Industries has submitted the draft papers with the market regulator Securities and Exchange Board of India (SEBI) for its Initial Public Offer (IPO). The public offerijng includes a fresh equity issue worth Rs 320 crore and an Offer for Sale (OFS) of 3.76 crore equity shares by promoters, as per the Draft Red Herring Prospectus (DRHP) filed on Sunday, September 28.
Ardee Industries IPO
The company plans to utilise net proceeds from the fresh issue by allocating worth Rs 220 crore to meet incremental working capital needs. Additionally, Rs 22 crore will be earmarked for the use of debt repayment. The remaining proceeds will go towards general corporate expenses and purposes.
Ardee Industries is a key player in the circular economy focusing on environmentally responsible recovery and recycling of end-of-life energy storage products and non-ferrous scrap.The company reclaims critical resources from waste streams and supplies materials to essential industries.
The company's portfolio spans pure lead and specialized lead alloys, including lead-calcium, lead-antimony, lead-tin, lead-silver, and lead-cadmium alloys. These elements are widely used in sectors such as energy storage, e-mobility, automotive, and chemicals.
Ardee Industries Operations
As of March 31, 2025, Ardee Industries has catered to over 50 customers across domestic and global markets, with a strong presence in the battery and metals sectors. The export network of the company extends to seven countries, viz., Singapore, Hong Kong, South Korea, Switzerland, the UAE, Japan, and the USA. Domestically, the company is having operations across 10 states.
The company runs a manufacturing facility in Andhra Pradesh with an installed capacity of 104,025 MTPA (million tonnes per annum), supporting both domestic demand and exports.
Pantomath Capital Advisors has been appointed as the book running lead manager (BRLM) for the IPO.
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