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Ardee Industries IPO at โ‚น53: Recycling Business, Concentration and Valuation

Original: โ‚น 53 Ardee Recycling Company IPO: Important RHP points?

52.5K views ยท Aug 05, 2026 ยท 9:44 min ยท Watch on YouTube โ†—
Takeaway

Ardee's apparent valuation discount depends on sustaining margins and reducing customer concentration after listing.

Summary

  • Ardee recycles used batteries to recover lead, with Amara Raja identified as its largest customer and the top ten customers contributing about 91% of revenue.
  • The IPO review describes a โ‚น426 crore issue, including โ‚น320 crore of fresh capital and โ‚น106 crore of shareholder sales, at a โ‚น50โ€“53 price band.
  • The host sees a valuation discount to listed recycling peers but questions whether the company's recently higher margins can persist; customer concentration and working-capital debt remain key risks.
ipobattery-recyclingvaluation
Original description 
Our SEBI Registration:Our promoters-owned company & promoters hold various registrations with regulators&regulated entities
Money Purse FinservLLP (SEBI:INA000022260,AMFI:ARN116900,APMI:APRN06893)
RKSV Securities:Sai Krishna Pathri AP2513030911
Angel One:Shahin Shaik AP011061201164011


๐Ÿ“Œ ๐Ž๐ฉ๐ž๐ง ๐˜๐จ๐ฎ๐ซ ๐ƒ๐ž๐ฆ๐š๐ญ ๐€๐œ๐œ๐จ๐ฎ๐ง๐ญ
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๐”๐๐’๐“๐Ž๐— ๐Ÿ‘‰ https://tinyurl.com/y8sbw9w8
๐…๐‹๐˜๐„๐‘๐’ ๐Ÿ‘‰ https://bit.ly/3JZwgyc
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๐“๐ž๐ฅ๐ž๐ ๐ซ๐š๐ฆ ๐Ÿ‘‰  https://telegram.openinapp.co/money-p...
๐–๐ก๐š๐ญ๐ฌ๐€๐ฉ๐ฉ ๐‚๐ก๐š๐ง๐ง๐ž๐ฅ ๐Ÿ‘‰ https://tinyurl.com/32cra3sc
๐†๐ž๐ญ ๐…๐ข๐ญ ๐…๐š๐ฆ๐ข๐ฅ๐ฒ (๐’๐ญ๐ซ๐š๐ฏ๐š) ๐Ÿ‘‰ https://strava.app.link/4U0TAr1zzTb

๐Ÿค ๐’๐ญ๐š๐ฒ ๐‚๐จ๐ง๐ง๐ž๐œ๐ญ๐ž๐ ๐–๐ข๐ญ๐ก ๐”๐ฌ
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Thanks for watching.
Team Money Purse

00:00 Intro 
00:35 Business 
03:00 Revenue Breakup 
05:07 Management 
05:14 share Holding Pattern
05:29 IPO Details 
06:07 Financials 
07:57 Peer Comparison
09:17 conclusion

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