Energy storage recycler Ardee Industries enjoyed a standout debut on Indian bourses, listing at a premium of nearly 39 percent over its IPO issue price. On the National Stock Exchange, the stock opened at ₹72—a 35.85 percent jump from its issue price of ₹53 per share.
It fared even better on the Bombay Stock Exchange, debuting at ₹73.60 to record a gain of 38.87 percent. Shortly after trading began across both exchanges, the company's market valuation topped ₹2,319 crore.
The solid stock market entry reflects heavy investor demand during the bidding phase for the ₹425.87 crore public issue. Operating in the circular economy space, Ardee Industries specializes in recovering and recycling non-ferrous metal scrap alongside spent energy storage materials.
The firm plans to use funds raised from the fresh issue component to cover working capital needs, pay down existing debt, and drive general corporate growth. Market watchers point to rising investor enthusiasm for sustainable industries and domestic energy storage solutions as key factors behind the strong listing day rally.