(L) Karan Gupta, MD–Investment Banking, Pantomath Capital Advisors and Ardee Industries officials including Arun Kumar Mallik, CFO, Sandeep Aggarwal, CMD and Nikunj Aggarwal, Whole-time Director at the company’s IPO press conference in Mumbai on Wednesday.
Ardee Industries, a lead-acid battery recycling company, plans to raise ₹426 crore through initial public offering on the main board. The company has fixed a price band of ₹50- 53 per equity share.Investors have to bid for minimum 281 shares and in multiples thereafter. The issue opens for subscription on August 5.The offer includes fresh issue of equity shares worth ₹320 crore and an offer for sale (OFS) of up to 1.99 crore equity shares by certain promoter selling shareholders including 99.87 lakh shares by Sandeep Aggarwal and 99.87 lakh shares by Nikunj Aggarwal.Issue managersPantomath Capital Advisors will be the book running lead manager while Kfin Technologies will be the registrar.Ardee Industries, a leading domestic players in the circular economy, specialises in the environmentally responsible recovery and recycling of end-of-life energy stock products and non-ferrous scrap, while reclaiming critical resources from waste streams.The company’s product portfolio consists of pure lead and lead alloys like lead calcium alloys, lead tin alloys, lead antimony alloys, lead silver alloys and lead cadmium alloys.Sandeep Aggarwal, Chairman and Managing Director, Ardee Industries, said the proceeds from the fresh issuance of shares will be used for incremental working capital as the company recently completed its expansion.The company is leading supplier of lead to large OEM battery manufacturers and the demand has been quiet strong in India, he said.Ardee Industries imports 80 per cent of its scrap requirement for recycling and finds a natural hedge in revenue from exports, he added.The company expects that the listing of the equity shares will enhance its visibility and brand image among the existing and potential customers and creation of a public market for its equity shares.Published on July 29, 2026
