Bengaluru : Ardee Industries Limited, (“Ardee” or “Company”) has filed Draft Red Herring Prospectus on September 29, 2025 comprising of Fresh Issue of up to ₹ 3,200 million and Offer for Sale of up to 37,650,000 Equity Shares of face value of ₹ 2.
Ardee is one of the India’s leading players in circular economy, specializing in the environmentally responsible recovery and recycling of end-of-life energy storage products and non-ferrous scrap, while reclaiming critical resources from waste streams. It’s product portfolio comprises pure lead and lead alloys such as lead calcium alloys, lead antimony alloys, lead tin alloys, lead silver alloys and lead cadmium alloys which find applications in critical industries including energy storage, e-mobility, automotive, chemical, among others.
By closing the loop across collection, recycling, and production, the Company reduces India’s reliance on imported critical metals, strengthens domestic resource security, and lowers the environmental impact of industrial growth. With an installed recycling capacity of 104,025 MTPA and a consistent track record of producing quality compliant alloys, the Company aligns closely with India’s sustainability agenda and supports the global transition toward a circular, resource-efficient economy.
The Company operates a strategically located manufacturing facility spread over ~7.61 acres in Tirupati District, Andhra Pradesh. The facility is equipped with advanced machinery, including rotary furnaces, refining kettles, casting machines, and pollution control systems, enabling efficient and environmentally responsible lead recycling. It is accredited with ISO 9001:2015 (Quality Management), ISO 14001:2015 (Environmental Management), and ISO 45001:2018 (Occupational Health & Safety). An in-house testing laboratory ensures stringent quality control, aligning production with customer specifications and industry standards.
It’s brand ‘Ardee’ is listed on the MCX platform, offering customers and commodity traders the ability to purchase and trade in its product, pure lead. The MCX listing enhances credibility and competitiveness, facilitates transparent price benchmarking, enables hedging against price risks, and improves market visibility. Additionally, the Company has applied for the listing of ‘Ardee Lead 9997’ on the London Metal Exchange (LME).
As of March 31, 2025, the Company served more than 55 customers across domestic and international markets, including marquee names such as Amara Raja Energy & Mobility Limited and Sebang Metal Trading Co. Ltd. This diverse customer base underscores the Company’s strong industry relationships and credibility.
The Company is among the fastest-growing players in its peer group, having achieved a revenue CAGR of 34.30% between Fiscal 2023 and Fiscal 2025, increasing to ₹ 7,425.35 million in Fiscal 2025 from ₹ 4,629.59 million in Fiscal 2024. Gross margin per ton increased from ₹ 19,511.95 in Fiscal 2023 to ₹ 33,642.16 in Fiscal 2025. Over the same period, EBITDA recorded a CAGR of 70.20%, increasing to ₹ 659.34 million in Fiscal 2025 from ₹ 280.57 million in Fiscal 2024, while profit after tax grew at a CAGR of 97.07% reaching ₹ 332.71 million in Fiscal 2025 from ₹ 89.54 million in Fiscal 2024. This strong financial performance has been driven by the Company’s continued focus on efficiency, productivity improvements, and cost rationalization.
Pantomath Capital Advisors Private Limited is the sole book-running lead manager. Company’s equity shares are proposed to be listed on the BSE and NSE.
