Ardee Industries IPO
Ardee Industries Limited (ARDEE) · mainboard IPO on NSE and BSE · 100% Book Building. Listed on 12 August 2026.
Issue details
Listing day
Back-tested estimate (from a model that had only seen earlier years' IPOs): listing gain +37.8% (likely range +24% to +48%), day's high +48.3%, chance of a gain 92%. Actual: +35.9% at the open, +38.1% at the high.
Subscription status
| Category | Shares offered | Shares bid for | Subscribed | |
|---|---|---|---|---|
| QIB (institutions) | 1,64,35,297 | 3,25,04,36,028 | 198x | |
| NII (HNI) total | 1,25,96,166 | 3,21,50,58,971 | 255x | |
| Big NII (above ₹10 lakh) | 83,97,444 | 2,32,91,23,014 | 277x | |
| Small NII (₹2-10 lakh) | 41,98,722 | 88,59,35,957 | 211x | |
| Retail | 2,93,91,053 | 1,34,33,24,434 | 45.7x | |
| Total | 5,84,22,516 | 7,80,88,19,433 | 134x |
Bids on NSE and BSE together, as published by NSE, as of 07 Aug 2026, 07:00 PM. Shares offered exclude the anchor portion. 15% of all shares bid for were at the cut-off price.
Past IPOs with similar demand
Earlier mainboard IPOs whose QIB, NII and retail subscription and size were closest to Ardee Industries's, and how they listed.
| IPO | QIB | NII | Retail | Total | Size | Listing gain | Day high |
|---|---|---|---|---|---|---|---|
| Caliber Mining and LogisticsJul 2026 | 241x | 267x | 41.1x | 147x | ₹475 Cr | +18.0% | +27.1% |
| GNG ElectronicsJul 2025 | 266x | 228x | 46.8x | 148x | ₹479 Cr | +49.8% | +51.6% |
| Mukka ProteinsMar 2024 | 189x | 250x | 58.5x | 137x | ₹224 Cr | +42.9% | +50.9% |
| Regaal ResourcesAug 2025 | 191x | 357x | 57.7x | 160x | ₹306 Cr | +38.2% | +42.8% |
| Arkade DevelopersSep 2024 | 163x | 163x | 51.4x | 107x | ₹434 Cr | +36.7% | +48.4% |
| Orient TechnologiesAug 2024 | 190x | 301x | 66.9x | 152x | ₹218 Cr | +39.8% | +46.8% |
Lead managers and their listing record
| Book running lead manager | Mainboard IPOs since 2019 | Avg listing gain | Listed at a premium |
|---|---|---|---|
| Pantomath Capital Advisors | 19 | +20.0% | 79% |
Offer documents (NSE)
Frequently asked
What is the Ardee Industries IPO price band and lot size? ₹50.0–53.0 per share, with a lot of 281 shares, so the smallest retail bid is ₹14,893.
How many times has it been subscribed? 134x overall: QIB 198x, NII 255x, retail 45.7x.
How did it list? It opened at ₹72.0, +35.9% against the issue price of ₹53.0, and closed its first day +26.6%.
