Ardee Industries makes strong debut, shares list at 39% premium

Ardee Industries shares opened at ₹72 on the NSE, up ₹19 apiece or 35.85 per cent, compared with the IPO issue price of ₹53. On the BSE, the shares debuted at ₹73.60, up ₹20.60 or 38.87 per cent.

Ardee Industries share price today: Ardee Industries shares made a strong debut on the bourses on Wednesday, listing at a premium of up to 39 per cent over the IPO issue price.

 

Ardee Industries shares opened at ₹72 on the National Stock Exchange (NSE), up ₹19 apiece or 35.85 per cent, compared with the IPO issue price of ₹53.

 

On the BSE, the shares debuted at ₹73.60, up ₹20.60 or 38.87 per cent over the issue price. It, however, slipped as profit booking dragged the stock down 9 per cent to ₹66.82 as of 10:35 AM.

 

Following the listing, Ardee Industries' market capitalisation stood at ₹2,319.88 crore, according to BSE data.

 

The listing was stronger than indicated by grey market trends, which had suggested a premium of around 28-30 per cent.  The stellar listing comes amid a weaker broader trend, with benchmark indices trading lower. The 30-share BSE Sensex slipped 250 points or 0.32 per cent to trade at 77,904, while the 50-share NSE Nifty dived 78 points or 0.32 per cent to 24,392.    Ardee Industries stock: Should you buy?  

Post-listing, Shivani Nyati, head of wealth at Swastika Investmart, said that the outlook remains positive, supported by attractive valuations, strong RoNW of 57.46 per cent, healthy profitability and its presence in the growing circular economy and recycling space. However, after a sharp 36–39 per cent listing gain, investors should avoid chasing the stock at higher levels and watch for profit-booking.

  "IPO allottees can continue to hold with a stop-loss of ₹65 on a closing basis, while fresh investors may consider buying only on meaningful dips," Nyati said. 

The price band for the IPO was fixed at ₹50-53 per equity share, valuing the company at ₹1,671 crore.

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

Ardee Industries IPO subscription data   Ardee Industries' IPO received strong investor participation, with the issue subscribed 133.66 times. The ₹426 crore IPO had received bids for 7,80,88,19,433 shares against 5,84,22,516 shares on offer, as per data available with the NSE. The non-institutional investors subscribed their category 255.24 times. The Qualified Institutional Buyers (QIBs) segment was booked 197.77 times, and the retail quota was subscribed 45.71 times.

 

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. 

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