Ardee Industries Ltd has launched its initial public offering on Indian stock exchanges, pricing shares within a band of ₹50 to ₹53 per equity share.
The ₹426 crore offering, which includes a fresh issue of up to ₹320 crore and an Offer for Sale by promoters, marks the public market debut for the secondary metals and circular economy specialist.
Brokerage analysts have largely favored the listing, pointing to the company’s strong fundamentals and growth trajectory in the steel products sector.
However, some market participants have raised concerns regarding the valuation implied by the price band, suggesting that the offering may be priced at the higher end of historical comparables for the industry.
The IPO follows a robust anchor investor phase, where Ardee secured ₹127.75 crore in commitments.
This institutional appetite signaled confidence in the company’s business model ahead of the public subscription.