Ardee Industries Raises ₹127.75 Cr Pre-IPO from Anchor Investors
By Business Desk
Ardee Industries secures ₹127.75 Cr from anchor investors ahead of its ₹426 Cr IPO launch on August 5, 2026. Key investors include Bank of India Small Cap Fund and Ashish Kacholia.
Ardee Industries secured ₹127.75 crore from anchor investors, preceding its IPO launch on Wednesday, August 5, 2026. The company allocated 2,41,05,584 equity shares to these investors at ₹53 each.
The anchor book attracted a diverse group of investors. These included the Bank of India Small Cap Fund and Ashish Kacholia-led Bengal Finance & Investment Pvt Ltd.
Further participants were Rohit Kothari-led Winro Commercial (India) Limited, The Wealth Company Alternates Trust – Bharat Value Fund, and 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 also joined.
IPO Funding Details
The upcoming IPO aims to raise a total of ₹426 crore. This is structured through a fresh issue of ₹320 crore and an offer for sale of up to 1,99,75,000 equity shares.
Promoter selling shareholders Sandeep Aggarwal and Nikunj Aggarwal are each offering up to 99,87,500 equity shares. Proceeds from the fresh issue are earmarked for specific purposes.
₹220 crore will fund incremental working capital requirements, while ₹20 crore is allocated for debt repayment. The remaining amount will be utilized for general corporate purposes.
The IPO’s price band has been set between ₹50 and ₹53 per equity share. Investors can bid for a minimum of 281 equity shares.
Allocation reserves 50% for qualified institutional buyers (QIBs), 35% for retail investors, and 15% for non-institutional investors (NIIs).
Pre-IPO Secondary Transaction
Ardee Industries also completed a pre-IPO secondary transaction last week, raising ₹115 crore at ₹53 per equity share. This transaction saw participation from several investors.
Key participants included Ashish Kacholia, Bharat Value Fund, Winro Commercial (India) Limited, and Meru Investment Fund. Pantomath Capital Advisors Private Limited is serving as the book-running lead manager for the issue.
Ardee Industries operates within the circular economy, specializing in the recovery and recycling of end-of-life energy storage products and non-ferrous scrap. The company manufactures pure lead and lead alloys, essential for various industries.