Ardee Industries Files for Rs 320 Crore IPO, Aims to Boost Working Capital

Ardee Industries, a prominent player in the recycling sector specializing in energy storage products, has taken a significant step towards going public. The company has filed its draft red herring prospectus (DRHP) with the Securities and Exchange Board of India (SEBI) for an initial public offering (IPO).

IPO Structure

The proposed IPO comprises two components:

• A fresh issue of shares worth Rs 320.00 crore
• An offer for sale (OFS) of 3.76 crore equity shares by the company's promoters

Fund Utilization

Ardee Industries has outlined clear plans for the funds raised through the fresh issue:

• Rs 220.00 crore for working capital requirements
• Rs 22.00 crore for debt repayment
• The remaining amount for general corporate purposes

Company Profile

Ardee Industries has established itself as a key player in the recycling industry, with a focus on energy storage products. The company's primary offerings include:

• Pure lead
• Lead alloys

These products cater to various sectors, including:

• Energy storage
• E-mobility
• Automotive industry
• Chemical industry

Operational Footprint

The company boasts a significant presence both domestically and internationally:

• Operations across 10 states in India
• International presence in seven countries
• A client base of over 50 customers

Manufacturing Capacity

Ardee Industries operates a state-of-the-art manufacturing facility:

• Located in Andhra Pradesh
• Annual production capacity of 104,025 MTPA (Metric Tonnes Per Annum)

IPO Management

Pantomath Capital Advisors has been appointed as the book-running lead manager for the IPO.

This IPO marks a significant milestone for Ardee Industries as it seeks to capitalize on the growing demand for recycled energy storage products. The company's decision to go public could provide it with the necessary capital to expand its operations and strengthen its market position in the recycling and energy storage sectors.