ACE INVESTOR ASHISH KACHOLIA MAKES RS 7 CRORE GAIN ON BLOCKBUSTER LISTING OF ARDEE INDUSTRIES

Ace investor Ashish Kacholia made a notional gain of around Rs 7.77 crore after shares of Ardee Industries made a strong debut on the exchanges on Wednesday.

Shares of Ardee Industries listed at Rs 73.60 on the BSE, a premium of 38.86 percent over the issue price of Rs 53. On the NSE, the stock listed at Rs 72, up 35.84 percent from the issue price.

Kacholia, who acquired a 1.48 percent stake in the lead and lead-alloys manufacturer in the pre-IPO bids, bought 37,73,600 equity shares from promoters Sandeep Aggarwal and Nikunj Aggarwal on July 24 at Rs 53 per share, for a total investment of about Rs 20 crore.

At the BSE listing price of Rs 73.60, the value of his investment rose to around Rs 27.77 crore, translating into a notional gain of about Rs 7.77 crore, or 38.87 percent.

Kacholia invested Rs 20 crore to acquire 37.73 lakh shares, while Bharat Value Fund – Series III emerged as the largest investor among them, purchasing 47.17 lakh shares for Rs 25 crore.

Winro Commercial and Shruti Gagan Chaturvedi each acquired 28.3 lakh shares for Rs 15 crore.

The initial public offering of Ardee Industries received strong participation from investors, with the issue subscribed 133.66 times on the final day of bidding on Friday last week.

The Rs 426-crore IPO had a price band of Rs 50-53 per equity share.

Ardee Industries is engaged in the circular economy segment, focusing on the recovery and recycling of end-of-life energy storage products and non-ferrous scrap.

It also reclaims critical resources from waste streams and manufactures pure lead and lead alloys used in sectors such as energy storage, e-mobility, automotive and chemicals.

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2026-08-12T08:25:25Z