Ardee Industries files draft IPO papers with Sebi; seeks to raise Rs 320 cr via fresh issue

New Delhi: Ardee Industries has filed preliminary papers with capital markets regulator Sebi to raise funds through an Initial Public Offering (IPO), comprising a fresh issue of equity shares worth Rs 320 crore.

Along with this, there will be an Offer For Sale (OFS) of 3.76 crore equity shares by promoters, according to the Draft Red Herring Prospectus (DRHP) filed on Sunday.

Of the fresh issue, Rs 220 crore will be earmarked for funding the company's incremental working capital requirements, Rs 22 crore will go towards debt repayment, and the remaining amount will be used for general corporate purposes.

A key player in the circular economy, Ardee Industries specialises in the environmentally responsible recovery and recycling of end-of-life energy storage products and non-ferrous scrap, while reclaiming critical resources from waste streams.

Its product portfolio includes pure lead and lead alloys such as lead-calcium, lead-antimony, lead-tin, lead-silver, and lead-cadmium alloys, which find applications across critical industries including energy storage, e-mobility, automotive, and chemicals.

As of March 31, 2025, the company served more than 50 customers across diverse industries, including battery and metal sectors, in both domestic and international markets.

Its export footprint spans seven countries, comprising Singapore, Hong Kong, South Korea, Switzerland, the United Arab Emirates, Japan, and the United States. On the domestic front, Ardee Industries has a presence across 10 states.

The company operates a manufacturing facility in Andhra Pradesh, with an installed capacity of 104,025 Million Tonnes Per Annum (MTPA).

To manage the IPO, Pantomath Capital Advisors has been appointed as the book running lead manager.