Ardee Industries Ipo
Ardee Industries IPO Review & Key Points
Review:
IPO Lead Managers aka Merchant Bankers
Pantomath Capital Advisors Pvt. Ltd.
| Name of the Company | Face Value (₹) | EPS basic (₹) | EPS Diluted (₹) | RONW (%) | P/E Ratio | NAV (₹) |
| Powerica Limited | 5 | 15.26 | 15.26 | 15.37 % | 24.45 | 99.76 |
| Listed Peers | ||||||
| Cummins India Limited | 2 | 72.15 | 72.15 | 26.45% | 64.13 | 272.78 |
| Kirloskar Oil Engines Limited | 2 | 33.71 | 33.60 | 15.85% | 43.24 | 212.60 |
| NTPC Green Energy Limited | 10 | 0.67 | 0.67 | 2.58% | 129.40 | 21.88 |
| Acme Solar Holdings Limited | 2 | 4.55 | 4.53 | 5.59% | 50.74 | 74.54 |
| Adani Green Energy Limited | 10 | 8.37 | 8.37 | 11.90% | 101.53 | 76.62 |
| IPO Open Date | August 5, 2026 |
| IPO Close Date | August 7, 2026 |
| Face Value | ₹2 Per Equity Share |
| IPO Price Band | ₹50 to ₹53 Per Share |
| Issue Size | Approx ₹425.87 Crores |
| Fresh Issue | Approx ₹320 Crores |
| Offer for Sale: | Approx 1,99,75,000 Equity Shares |
| Issue Type | Book built Issue |
| IPO Listing | BSE, NSE |
| DRHP Draft Prospectus | |
| RHP Draft Prospectus |
| Application | Lot Size | Shares | Amount |
| Retail Minimum | 1 | 281 | ₹14,893 |
| Retail Maximum | 13 | 3,653 | ₹1,93,609 |
| S-HNI Minimum | 14 | 3,934 | ₹2,08,502 |
| S-HNI Maximum | 67 | 18,827 | ₹9,97,831 |
| B-HNI Minimum | 68 | 19,108 | ₹10,12,724 |
| Investor Category | Share Offered | -% Shares |
| Anchor Investor | – Shares | -% |
| QIB (Ex. Anchor) | – Shares | 50% |
| NII Shares Offered | – Shares | 15% |
| Retail Shares Offered | – Shares | 35% |
| Anchor Bidding Date | August 4, 2026 |
| Anchor Investors List | |
| Shares Offered | [.] Shares |
| Anchor Size | [.] Cr. |
| lock-in period end date 50% shares (30 Days) | 2026 |
| lock-in period end date 50% shares (90 Days) | 2026 |
| IPO Open Date: | August 5, 2026 |
| IPO Close Date: | August 7, 2026 |
| Basis of Allotment: | August 10 2026 |
| Refunds: | August 11, 2026 |
| Credit to Demat Account: | August 11, 2026 |
| IPO Listing Date: | August 12, 2026 |
| Particular | Pre IPO Shares | Pre IPO % Shares | Post IPO Shares | Post IPO % Shares |
| Promoter and Promoter Group | 23,31,25,700 | 91.48% | 21,31,50,700 | 67.62% |
| Others* | 2,16,98,300 | 8.52% | 10,20,50,658 | 32.38% |
| Total | 25,48,24,000 | 100% | 31,52,01,358 | 100% |
| Purpose | Crores |
| Funding incremental working capital requirement of Company | ₹220.00 |
| Repayment and/or pre-payment, in full or in part, of certain borrowings availed by Company | ₹20.00 |
| Purposes | ₹- |
| Period Ended | Revenue | Expense | PAT | Assets |
| 2024 | ₹463.39 | ₹451.61 | ₹8.95 | ₹196.12 |
| 2025 | ₹743.53 | ₹698.88 | ₹33.27 | ₹262.06 |
| 2026 | ₹1,168.88 | ₹1,055.94 | ₹84.68 | ₹363.33 |
| KPI | Values |
| ROE: | 57.46% |
| ROCE: | 44.26% |
| EBITDA Margin: | 12.60% |
| PAT Margin: | 7.25% |
| Debt to equity ratio: | 1.25 |
| Earning Per Share (EPS): | ₹3.32 (Basic) |
| Price/Earning P/E Ratio: | N/A |
| Return on Net Worth (RoNW): | 57.46% |
| Net Asset Value (NAV): | ₹5.78 |
| Company | EPS | PE Ratio | RoNW % | NAV | Income |
| Gravita India Limited | 52.02 | 35.37 | 15.43% | 332.16 | 4,265.27 Cr. |
| Pondy Oxides and Chemicals Limited | 43.98 | 31.94 | 16.73% | 258.39 | 2,958.36 Cr. |
| Jain Resources Recycling Limited | 10.25 | 33.57 | 22.25% | 45.24 | 9,543.11 Cr. |
| Period Ended | Revenue | Expense | PAT | Assets |
| 2023 | ₹184.81 | ₹154.97 | ₹32.10 | ₹251.58 |
| 2024 | ₹206.45 | ₹175.85 | ₹34.44 | ₹339.25 |
| 2025 | ₹322.58 | ₹261.43 | ₹28.13 | ₹455.49 |
| Dec 2025 | ₹236.50 | ₹186.96 | ₹38.69 | ₹561.34 |