- Ardee Industries launched its ₹426-crore IPO at a price band of ₹50-53 per share on 5 August 2026.
- The IPO 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.
- Ahead of the IPO, the company raised ₹127.75 crore from seven anchor investors at ₹53 per share.
- The public issue has been subscribed over 14 times in the first two days of bidding.
- By day 3, the issue was booked 132.89 times, with NII at 254.79 times and QIB at 197.77 times.
- The IPO subscription crossed 98.07 times overall, with NII demand exceeding 233 times.
- The grey market premium rose from ₹7 to ₹15 in two days.
- The IPO is scheduled to close on 7 August 2026, with allotment on 10 August and listing on 12 August.
Ardee Industries Ltd's IPO has garnered significant attention, being oversubscribed 98.07 times, with the non-institutional investor segment seeing a staggering 233 times demand. The overall subscription reached 133.66 times, with qualified institutional buyers (QIB) subscribing 197.77 times and retail investors at 45.71 times.156
The IPO, launched on August 5, 2026, aims to raise ₹426 crore at a price band of ₹50-53 per share. It consists of a fresh issue of ₹320 crore and an offer-for-sale of 1.99 crore equity shares by promoters Sandeep and Nikunj Aggarwal. Proceeds will fund working capital, repayment, and general corporate purposes.2
The grey market premium for Ardee Industries shares has seen a notable increase, rising from ₹7 to ₹15 in just two days, indicating strong investor sentiment. Analysts from BP Equities and Marwadi Shares & Finance have recommended a 'subscribe' rating, citing the company's integrated business model and reasonable valuation compared to peers.7
The IPO's allotment is expected to be finalized on August 10, with refunds initiated on August 11 and shares credited to successful applicants on the same day. The listing is scheduled for August 12 on the BSE and NSE.
“The IPO, priced at ₹50-53 per share, aims to raise ₹426 crore, with proceeds earmarked for working capital and debt repayment. Anchor investors, including Bank of India Small Cap Fund and Ashish Kacholia-led Bengal Finance, subscribed ₹127.75 crore, while the issue remains open until August 7.”
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