Ardee Industries' Shares Debut With Nearly 39% Premium

Shares of Ardee Industries on Wednesday listed with a premium of nearly 39% against the issue price of ₹53.

The stock started trading at ₹73.60, up 38.86% from the issue price on the BSE.

At the NSE, it listed at ₹72, registering a jump of 35.84% from the issue price.

The company's market valuation stood at ₹2,119.10 crore.

The initial public offering of Ardee Industries received strong participation from investors, with the issue getting subscribed 133.66 times on the final day of bidding on Friday last week.

The ₹426-crore IPO had a price band of ₹50-53 per equity share.

The IPO had a fresh issue of equity shares worth up to ₹320 crore and an offer-for-sale (OFS) of up to 1.99 crore shares by promoters.

Ardee Industries is engaged in the circular economy segment, focusing on the recovery and recycling of end-of-life energy storage products and non-ferrous scrap.

It also reclaims critical resources from waste streams and manufactures pure lead and lead alloys used in sectors such as energy storage, e-mobility, automotive and chemicals.