Ardee Industries has secured ₹127.75 crore in anchor investor commitments ahead of its initial public offering, signaling strong institutional appetite for the secondary metals and circular economy specialist.
The anchor book closure precedes the opening of the public subscription window, which begins on Wednesday, August 5, and runs through August 7.
The anchor allocation represents roughly 30% of the total offering, providing a floor of demand as the company prepares for its debut on Indian stock exchanges.
The total issue size stands at ₹426 crore, with the company setting the price band at ₹50 to ₹53 per equity share.
The anchor allocation represents roughly 30% of the total offering, providing a floor of demand as the company prepares for its debut on Indian stock exchanges.
Proceeds from the IPO are earmarked for working capital requirements, repayment of existing debt, and general corporate purposes, aiming to strengthen the balance sheet ahead of potential expansion.
Ardee Industries operates in the secondary metals sector, focusing on steel products and circular economy solutions.