Ardee Industries Files Draft IPO with Sebi to Raise Rs 320 Crore

Ardee Industries has filed its Draft Red Herring Prospectus (DRHP) with capital markets regulator Sebi, aiming to raise Rs 320 crore through a fresh equity issue.

In addition to the fresh issue, the IPO will include an Offer For Sale (OFS) of 3.76 crore equity shares by the company’s promoters.

Of the funds raised through the fresh issue, Rs 220 crore will be allocated to meet the company’s incremental working capital requirements, Rs 22 crore will be used for debt repayment, and the remaining amount will support general corporate purposes, the DRHP stated.

The move marks a significant step for Ardee Industries to strengthen its financial position and support growth initiatives as it enters the public market