Overview
- The company completed a heavily subscribed IPO that ran from August 5–7 and listed on August 12 with an initial gain of about 35–39% versus the Rs 53 issue price.
- The offer was subscribed 133.66 times with roughly 41.2 lakh applications and bids exceeding Rs 41,300 crore, showing strong retail and institutional demand.
- The Rs 426 crore issue combined a fresh issue of about Rs 320 crore and an offer-for-sale of about Rs 106 crore with Pantomath Capital Advisors as book-running lead manager and Kfin Technologies as registrar.
- Shares jumped at debut then showed early selling pressure, and brokers urged caution by recommending profit-booking for short-term traders and stop-losses for IPO allottees.
- Ardee is a New Delhi recycler that recovers metals from end-of-life energy-storage products to make high-purity lead and alloys, a niche that may benefit from growing e-mobility and resource-recovery demand.