Ardee Industries IPO
Ardee Industries IPO is a mainboard IPO raising ₹426 Cr at ₹50 – ₹53 a share. It listed on 12 Aug 2026 at ₹72, +35.8% against its issue price of ₹53, and trades at ₹51 today (−3.8% since issue). It was subscribed 134× in total.
133.7 times more demand than shares on offer
populated partly populated we hold nothing here — the tab says why
Where your money goes
Only the fresh issue reaches the company. The offer for sale is existing shareholders selling their own stock — that money goes to them, not the business.
A red herring prospectus is filed before the price is fixed, so it states share counts rather than rupee amounts. derived: shares x cut-off price Rs53. Checked: exchange issue size Rs426 Cr vs derived Rs425.9 Cr (0.0% apart).
What the fresh money funds
The stated uses of the net proceeds, from the prospectus’s Objects of the Issue table. Only the fresh issue funds these — the offer-for-sale money goes to the selling shareholders above.
As stated in the prospectus. “General corporate purposes” is the part with no committed use; SEBI caps it at 25% of the issue.
The price they’re asking
From the prospectus’s own “Basis for Issue Price” — the issuer’s earnings multiple against the peers it chose to compare itself with.
Priced 52% below the median multiple of the peers the issuer itself names.
| Listed peer (issuer’s choice) | P/E | RoNW | EPS |
|---|---|---|---|
| Gravita India Limited | 35.37× | 15.43% | ₹52.02 |
| Pondy Oxides and Chemicals Limited | 31.94× | 16.73% | ₹43.98 |
| Jain Resources Recycling Limited | 33.57× | 22.25% | ₹10.25 |
| This issue | 16× | 57.46% | ₹3.32 |
derived: cut-off price Rs53 / stated EPS Rs3.32 (FY2026 (year ended March 31, 2026) diluted EPS, restated consolidated, face value ₹2). Peer figures are as printed in the prospectus — they date from its filing, not today. A multiple is one lens, not a verdict.
Terms of the issue
The mechanics of what is being sold. Held for every issue we track.
Not here yet
The anchor-investor allocation — which institutions were allotted shares before bidding opened — is still to be read out of its document.