Ardee Industries IPO to Open on August 5, Eyes INR 426 Crore Fundraise

Ardee Industries proposes to open its Initial Public Offering (IPO)  of its equity shares at INR 2 each on August 5, 2026. The anchor investor bidding will take place on August 4, 2026, while the issue will close on August 7, 2026. 

The price band for the offer has been fixed at INR 50 to INR 53 per equity share of face value INR 2 each. Bids can be made for a minimum of 281 equity shares and in multiples of 281 equity shares thereafter. 

The Offer comprises a fresh issue of Equity Shares aggregating up to INR 426 Crores and an Offer for Sale of up to 19,975,000 Equity Shares by certain promoter selling shareholders including up to 9,987,500 Equity Shares of face value ₹INR 2 each by Sandeep Aggarwal and up to 9,987,500 Equity Shares of face value INR 2 each by Nikunj Aggarwal.

This Offer is being made through the Book Building Process, in terms of Rule 19(2)(b) of the Securities Contracts (Regulation) Rules, 1957, as amended (“SCRR”) read with Regulation 31 of the SEBI ICDR Regulations and in compliance with Regulation 6(1) of the SEBI ICDR Regulations, wherein not more than 50 percent of the Offer shall be allocated on a proportionate basis to Qualified Institutional Buyers, provided that our Company may, in consultation with the Book Running Lead Manager, allocate up to 60 percent of the QIB Portion to Anchor Investors on a discretionary basis in accordance with the SEBI ICDR Regulations, of which 40 percent shall be available for allocation as follows, (i) 33.33 percent shall be available for allocation to domestic Mutual Funds, and (ii) 6.67 percent for Life Insurance Companies and Pension Funds, subject to valid Bids being received from domestic Mutual Funds, Life Insurance Companies and Pension Funds at or above the price at which allocation is made to Anchor Investors. In the event of undersubscription, or non-allocation in the Anchor Investor Portion, the balance Equity Shares shall be added to the Net QIB Portion. Further, 5 percent of the Net QIB Portion shall be available for allocation on a proportionate basis only to Mutual Funds, subject to valid Bids being received at or above the Offer Price, and the remainder of the Net QIB Portion shall be available for allocation on a proportionate basis to all QIBs, including Mutual Funds.

Further, not less than 15 percent of the Offer shall be available for allocation to Non-Institutional Bidders, of which one-third of the Non-Institutional Portion shall be available for allocation to Non-Institutional Bidders with a Bid size of more than INR 0.20 million and up to INR 1.00 million and two-thirds of the Non-Institutional Portion shall be available for allocation to Non-Institutional Bidders with a Bid size of more than INR 1.00 million provided that under-subscription in either of these two sub-categories of the Non-Institutional Portion may be allocated to Non-Institutional Bidders in the other sub-category of Non-Institutional Portion in accordance with the SEBI ICDR Regulations, subject to valid Bids being received at or above the Offer Price, and not less than 35 percent of the Offer shall be available for allocation to Retail Individual Bidders in accordance with the SEBI ICDR Regulations, subject to valid Bids being received from them at or above the Offer Price. 

All potential Bidders (except Anchor Investors) are mandatorily required to participate in the Offer through the Application Supported by Blocked Amount (“ASBA”) process by providing details of their respective ASBA accounts and UPI ID in case of UPI Bidders using the UPI Mechanism, as applicable, pursuant to which their corresponding Bid Amount will be blocked by the Self Certified Syndicate Banks (“SCSBs”) or by the Sponsor Banks under the UPI Mechanism, as the case may be, to the extent of the respective Bid Amounts. Anchor Investors are not permitted to participate in the Offer through the ASBA process.

The Equity Shares are proposed to be listed on BSE and the National Stock Exchange of India.