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Ardee Industries raises ₹127.75 crore in anchor funding ahead of IPO
The IPO on August 5 targets up to ₹426 crore, with proceeds earmarked for working capital, debt repayment, and general corporate use, and the price band set at ₹50-53 per share.
Ardee Industries, a player in the secondary metals and circular economy space, has raised ₹127.75 crore from anchor investors ahead of its IPO, with the issue scheduled to open for public subscription on Wednesday, August 5, 2026. According to LiveMint Markets, the company allocated 241,05,584 equity shares to anchor investors at ₹53 per share.
The company plans to raise up to ₹426 crore through a mix of a fresh issue and an offer for sale. LiveMint Markets said the fresh issue would account for up to ₹320 crore, while promoter selling shareholders would offer up to 1,99,75,000 equity shares.
For the use of proceeds, the fresh issue funding will be directed toward incremental working capital needs, debt repayment, and general corporate purposes. LiveMint Markets reported that ₹220 crore is earmarked for working capital, ₹20 crore for debt repayment, and the remaining amount for general corporate uses.
The IPO price band has been fixed at ₹50-53 per share, with reservations of 50% for qualified institutional buyers, 35% for retail investors, and 15% for non-institutional investors. LiveMint Markets also noted the company completed a pre-IPO secondary transaction worth ₹115 crore at ₹53 per equity share earlier last week.