Ardee Industries Ltd - IPO

Ardee Industries Ltd IPO Details

Initial public offer of 80,351,950 equity shares of face value of Rs. 2 each (Equity Shares) of Ardee Industries Limited (Company or Issuer) for cash at a price of Rs. 53 per equity share (including a share premium of Rs. 51 per equity share) (Offer Price) aggregating to Rs. 425.87 Crores comprising a fresh issue of 60,376,950 equity shares of face value of Rs. 2 each aggregating to Rs. 320.00 Crores by the company (Fresh Issue) and an offer for sale of 19,975,000 equity shares of face value of Rs. 2 each aggregating to Rs. 105.87 Crores (Offered Shares) comprising 9,987,500 equity shares of face value of Rs. 2 each aggregating to Rs. 52.93 Crores by Sandeep Aggarwal and 9,987,500 equity shares of face value of Rs. 2 each aggregating to Rs. 52.93 Crores by Nikunj Aggarwal (collectively, the Promoter Selling Shareholders) and such offer for sale, together with the fresh issue, the Offer. The offer constituted 25.49% of the post-offer paid up equity share capital of the company.Price Band: Rs. 53 per equity share of face value of Rs. 2 each.The floor price is 26.50 times of the face value of the equity shares. Bids can be made for a minimum of 281 equity shares of face value of Rs. 2 each and in multiples of 281 equity shares of face value of Rs. 2 each thereafter.

Objective of issue

Funding incremental working capital requirement of the Company. Repayment and/or pre-payment, in full or in part, of certain borrowings availed by its Company. General corporate purposes.

Ardee Industries Ltd Contact Details

Ardee Industries Ltd, Karvy Selenium Tow-B, 31&32 Financial Dist, Nanakramguda, Hyderabad-500032

Phone - 91-40-67162222

Fax - 91-40-23001153/23420814

Email - cs@ardeeindustries.com

Website - www.ardeeindustries.com