Ardee Industries IPO Day 3 LIVE: The initial public offering (IPO) of Ardee Industries Ltd hit the Indian primary market on 5 August 2026. The public issue proposed for listing on the BSE and the NSE will remain open until 7th August 2026. So, investors have just one day to apply for the book-building issue. The company management has offered Ardee Industries shares at a price band of ₹50 to ₹53 per equity share.
The company aims to raise ₹426 crore, which means the Ardee Industries IPO size is ₹426 crore. The public issue is a mix of fresh shares and Offer for Sale (OFS). The company aims to raise ₹320 crore through the issuance of fresh shares, while the remaining ₹106 crore is reserved for the OFS. Meanwhile, the company’s shares have risen in the grey market. In the last two days, the premium on the company’s shares has risen from ₹7 to ₹15 in the grey market.
Ardee Industries IPO GMP today
According to Investorgain, the company shares are available at a premium of ₹15 in the grey market today. This means Ardee Industries’ IPO GMP (Grey Market Premium) today is ₹15, up from ₹7 two days ago. So, Ardee Industries IPO GMP has risen from ₹7 to ₹15 in the last two days. Market observers believe that positive sentiment in the secondary market and strong Ardee Industries IPO subscription status could be behind the more than 100% appreciation in the grey market premium on the company’s stock.
Ardee Industries IPO subscription status
By 2:30 PM on day 3 of bidding, the public issue had been booked 72.92 times, the retail portion had been subscribed 37.26 times, whereas the NII segment had been filled 205.23 times. The QIB portion had been subscribed to 35.28 times.
Ardee Industries IPO review
Whether Ardee Industries IPO is good or bad for investors, BP Equities says, “Considering its integrated business model, improving financial profile and attractive valuation relative to peers, we recommend a “SUBSCRIBE” rating for the issue with a long-term investment horizon.”
Marwadi Shares & Finance has also assigned a ‘subscribe’ tag to the public issue, saying, “Considering the FY26 EPS of ₹2.69 on a post-issue basis, company is set to list at a P/E of approximately ~20x with a market cap of ₹1,670 cr whereas its peers namely Gravita India Ltd, Pondy Oxides and Chemicals Ltd and Jain Resources Recycling Ltd are trading at P/E ratio of approximately ~30x, ~29x, ~33x respectively. We assign a “Subscribe (With Caution)” rating to this IPO, as the company is one of India’s leading players in the circular economy and is supported by a reasonable valuation relative to its peers. However, high client concentration (with the top five clients contributing 82% of revenue), weak cash conversion, and elevated debt levels make us cautious from a long-term investment perspective.”
Canara Bank Securities, Choice Broking, SBI Capital Securities, Sushil Financial Services, Swastika Investmart, and Ventura Securities have also assigned a ‘subscribe’ tag to the public issue.
Ardee Industries IPO details
The anchor book of the public issue saw participation from Bank of India Mutual Fund, Bengal Finance & Investment Pvt. Ltd. (led by Ashish Kacholia), Winro Commercial (India) Ltd. (led by Rohit Kothari), The Wealth Company Alternates Trust, India Max Investment Fund Ltd., Cognizant Capital Dynamic Opportunities Fund, IMAP India Capital Investment Trust, and Catalyst New India Fund.
According to the tentative schedule, the Ardee Industries IPO allotment is likely to be finalised on Monday, August 10. Refunds are expected to be initiated on Tuesday, August 11, while shares will be credited to the demat accounts of successful applicants on the same day. The Ardee Industries share price is scheduled to be listed on the BSE and NSE on Wednesday, August 12.
Disclaimer: This story is for educational purposes only. The views and recommendations above are those of individual analysts or broking companies, not Mint. We advise investors to check with certified experts before making any investment decisions.
