Summary:
Ardee Industries shares debuted strongly on August 12, listing at ₹73.60 on BSE, a 38.87% premium over the ₹53 IPO price, while NSE opened at ₹72. The ₹426 crore IPO was subscribed 133.66 times, reflecting strong demand across QIB, NII and retail categories. The strong listing was supported by investor optimism around the company’s recycling and circular economy business. Ardee Industries focuses on recovering critical materials and producing lead and specialty lead alloys from end-of-life energy storage products and non-ferrous scrap.
The shares of Ardee Industries saw an impressive launch on Wednesday, August 12, following the overwhelming response of investors to its ₹426 crore IPO. At BSE, the stocks hit an initial price of ₹73.60, registering a premium of 38.87% from its IPO issuance price of ₹53. At NSE, the stocks commenced trading at ₹72, recording a premium of 35.85%.
The market capitalization of Ardee Industries at listing was ₹2,319.88 crore. This listing performance was better than the expectations, where the grey market premium indicated a possible listing gain of 30-32%.
Strong Investor Response to ₹426 Crore IPO
The Ardee IPO was listed between August 5 and August 7 with the price band being ₹50-53 per share. The lot size was 281 shares meaning that retail investors had to invest ₹14,893 at the highest price band.
The issue was subscribed 133.66 times with close to 41.2 lakh applications and bids worth more than ₹41,300 crore. The QIB portion was subscribed 197.77 times while the NII and retail portion were subscribed 255.25 times and 45.71 times, respectively.
The company had collected ₹128 crore through the anchor investor route before the IPO. The issue consisted of the fresh issue of up to 6,03,77,358 shares worth ₹320 crore and offer for sale of up to 1,99,75,000 shares worth ₹106 crore.
For retail investors with a single lot at the listing price at BSE of ₹73.60, their profit would be about ₹5,780. For HNI investors with 14 lots which comprised of 3,934 shares, their profit would be more than ₹81,000 with an investment of ₹2,08,502.
Check out: Ardee Industries Stock on Ventura
Why Ardee Industries Shares Surged After Listing?
The impressive performance was due to strong IPO demand as well as investor optimism towards the recycling and circular economy industry, together with good profitability expectations. Ardee Industries is reporting an impressive return on net worth of 57.46% while operating in the industry involved in the reclamation and recycling of energy storage products at the end of their life cycle and non-ferrous scrap.
Ardee Industries is involved in the recovery of critical materials from waste streams and producing pure lead and specialty lead alloys such as lead calcium, lead antimony, lead tin, lead silver and lead cadmium alloys.
About Ardee Industries
Founded in 1993 and headquartered in New Delhi, Ardee Industries is involved in the sustainable recovery and recycling of energy storage products that reach the end of their useful life as well as non-ferrous scraps. The goal of the company is to capitalize on the growing demand for recyclables.
