Investors await the final allotment of Ardee Industries’ highly subscribed IPO, with the listing expected on August 12 following a 133.66 times subscription rate and strong international interest.
Investors are waiting for the Ardee Industries initial public offering allotment to be confirmed after the issue closed on August 7 and drew strong demand from all categories. Zee Business reported that the offering was subscribed 133.66 times, underscoring the enthusiasm for the manufacturing and recycling company’s market debut.
The allotment is expected to be finalised on August 10, according to Zee Business. Successful applicants should see shares credited to their demat accounts, while funds blocked for unsuccessful bids are due to be released. The company’s shares are slated to list on the National Stock Exchange and the Bombay Stock Exchange on August 12.
Applicants will be able to check their status through the NSE, BSE or KFin Technologies, which is acting as registrar to the issue. KFin Technologies says investors can view allotment details by using a PAN, application number or demat account information on its allotment portal. The registrar also notes that if no shares are allotted, application money is refunded automatically.
The issue comprised a fresh sale of 6.04 crore shares worth ₹320 crore and an offer for sale of 2 crore shares valued at ₹105.87 crore. The price band was set at ₹50 to ₹53 a share, with a minimum application size of 281 shares, meaning a retail investor bidding at the top of the range needed at least ₹14,893 for one lot.
Ardee Industries, incorporated in 1993, recycles end-of-life energy storage products and non-ferrous scrap. Its output includes high-purity lead and a range of specialised lead alloys used in energy storage, e-mobility, automotive and chemicals. According to the company’s red herring prospectus, it had more than 50 customers across domestic and international markets as of March 31, 2025, and had exported to seven countries, including the US, Japan and the UAE.
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