IPO Watch, March 28 -- Ardee Engineering Limited has filed its draft red herring prospectus (DRHP) with the capital market regulator, Securities and Exchange Board of India (SEBI), for an initial public offering (IPO) to raise Rs.580 crore.

Ardee Engineering is a comprehensive design, engineering, and manufacturing firm that operates with three main business sectors: pre-engineered buildings (PEB), material handling systems (MHS), and engineering services.

Founded in 2008 as a partnership, Ardee has attracted key clients, including renowned blue chip companies such as ArcelorMittal Nippon Steel India Limited (AM/NS), JK Cement Limited, Navayuga Engineering Company Limited, and Udaipur Cement Works Limited, among others.

With a broad cl...