New Delhi, Sep 29 (PTI) Ardee Industries has filed preliminary papers with capital markets regulator Sebi to raise funds through an Initial Public Offering (IPO), comprising a fresh issue of equity shares worth Rs 320 crore.

Along with this, there will be an Offer For Sale (OFS) of 3.76 crore equity shares by promoters, according to the Draft Red Herring Prospectus (DRHP) filed on Sunday.

Of the fresh issue, Rs 220 crore will be earmarked for funding the company's incremental working capital requirements, Rs 22 crore will go towards debt repayment, and the remaining amount will be used for general corporate purposes.

A key player in the circular economy, Ardee Industries specialises in the environmentally responsible recovery and recycling of end-of-life energy storage products and non-

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