As part of the IPO, Ardee Industries raised ₹127.75 crore from seven anchor investors by allotting 2,41,05,584 shares at ₹53 per share.
Ardee Industries’ initial public offering was subscribed 2.43 times as of 3.24 pm on the opening day, reflecting strong investor response.The non-institutional investors (NIIs) portion was subscribed 3.75 times, while the retail investors’ category was booked 2.61 times. The qualified institutional buyers (QIBs) segment was subscribed 1.10 times.The company launched its ₹426-crore initial public offering at a price band of ₹50-53 per share. The IPO, which closes on August 7, 2026, comprises a fresh issue of up to ₹320 crore and an offer for sale of up to 1.99 crore equity shares by promoters Sandeep Aggarwal and Nikunj Aggarwal.As part of the IPO, Ardee Industries raised ₹127.75 crore from seven anchor investors by allotting 2,41,05,584 shares at ₹53 per share. The anchor book included Bank of India Small Cap Fund, Ashish Kacholia-led Bengal Finance & Investment Pvt Ltd, Rohit Kothari-led Winro Commercial (India) Limited, The Wealth Company Alternates Trust – Bharat Value Fund, India Max Investment Fund Limited, Sundar Iyer-led Cognizant Capital Dynamic Opportunities Fund – Investment Account, and IMAP India Capital Investment Trust – Catalyst New India Fund.Of the proceeds from the fresh issue, ₹220 crore will be used to fund the company’s incremental working capital requirements, ₹22 crore will be allocated towards debt repayment, and the remaining amount will be used for general corporate purposes.Earlier last week, the company completed a pre-IPO secondary transaction aggregating ₹115 crore at ₹53 per equity share.Pantomath Capital Advisors Private Limited is the book running lead manager to the issue.Published on August 5, 2026
