Ardee Industries Powers Forward with IPO: A Circular Economy Gamechanger

Ardee Industries has officially initiated the process to raise capital through an Initial Public Offering (IPO), as outlined in the documents submitted to market regulator Sebi. The offering includes a fresh issue of shares totaling Rs 320 crore, with an additional Offer For Sale (OFS) from promoters including 3.76 crore equity shares.

The company anticipates using Rs 220 crore from the fresh issue to bolster its working capital, Rs 22 crore for debt clearance, and the balance for general corporate necessities. Specializing in environmentally responsible recycling within the circular economy, Ardee Industries recycles end-of-life energy storage products and non-ferrous scrap to reclaim vital resources.

Ardee's product range spans pure lead and various lead alloys, catering to industries such as energy storage, automotive, and chemicals. As of March 2025, the company services over 50 clients including both domestic and international customers, exporting to seven countries. Pantomath Capital Advisors has been designated as the book running lead manager for the IPO.

(With inputs from agencies.)