Shares of Adroit Industries will list on the BSE and NSE on Wednesday, September 30. The Rs 150.71-crore IPO got a strong response, as it was subscribed 176.85 times. With a grey market premium of 41%, many investors expect a solid debut. The company plans to use the funds for manufacturing.
Synopsis
The Rs 150.71-crore Adroit Industries IPO was a book-built issue comprising a fresh issue of 98.97 lakh shares aggregating to Rs 132.62 crore and an offer for sale (OFS) of 13.50 lakh shares worth Rs 18.09 crore. The company had fixed the IPO price band at Rs 126-134 per share.
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Shares of Adroit Industries are set to make their debut on the BSE and NSE on Wednesday, September 30, with strong sentiment prevailing in the grey market. The IPO is currently commanding a grey market premium (GMP) of around 41%, indicating expectations of a strong listing premium over the issue price.
The Rs 150.71-crore Adroit Industries IPO was a book-built issue comprising a fresh issue of 98.97 lakh shares aggregating to Rs 132.62 crore and an offer for sale (OFS) of 13.50 lakh shares worth Rs 18.09 crore. The company had fixed the IPO price band at Rs 126-134 per share.
The IPO opened for subscription on September 23 and closed on September 25, 2026. The issue was subscribed 176.85 times overall. The retail investor portion was subscribed 99.81 times, while the non-institutional investor (NII) category received 332.35 times subscription. The qualified institutional buyer (QIB) portion was subscribed 195.04 times.
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Choice Capital Advisors Pvt. Ltd. is the book-running lead manager for the issue, while Bigshare Services Pvt. Ltd. is the registrar.
The Adroit Industries IPO is currently commanding a grey market premium (GMP) of Rs 55 per share, representing a premium of around 41% over the upper end of the IPO price band of Rs 134. Based on the prevailing GMP, the estimated listing price stands at around Rs 189 per share.
The grey market premium is an unofficial and unregulated indicator of market sentiment and does not guarantee the stock’s actual listing price. GMP can fluctuate depending on demand, market conditions and investor sentiment, and the actual listing price may differ significantly from the GMP-based estimate.
The company plans to utilise the net proceeds from the issue primarily towards capital expenditure and strengthening its manufacturing capabilities.
Of the total estimated proceeds of Rs 87.98 crore, Rs 19.91 crore is proposed to be used to procure machinery and equipment for enhancing operations at the Dewas facility, along with transportation vehicles for moving goods between manufacturing facilities.
Further, Rs 43.96 crore is proposed to be invested in its subsidiary, Adroit Driveshafts Private Limited, through debt, equity or a combination of both. The funds will be used towards capital expenditure at the Pithampur facility and the procurement of transportation vehicles.
Another Rs 24.12 crore is proposed to be invested in the subsidiary towards the repayment or prepayment of certain borrowings, while the balance will be allocated towards general corporate purposes.
Financial performance
About Adroit Industries (India) Ltd.
Incorporated in January 1995, Adroit Industries (India) Limited is a vertically integrated manufacturer and supplier of propeller shafts and torque-transmission components for driveline systems.
The company offers more than 5,000 SKUs, including precision-machined torque-transmission components, complete propeller shaft assemblies and forged components. Its manufacturing capabilities span forging, precision machining, heat treatment, assembly, balancing and testing, enabling end-to-end control over production.
The company primarily serves commercial vehicle manufacturers, while also catering to SUVs, defence and emergency services, heavy equipment, off-highway machinery and industrial applications.
The company has an export presence across North America, Europe, Latin America, the Middle East, Africa and Asia-Pacific, with customers in more than 32 countries during FY26.
The company is supported by its subsidiary, Adroit Driveshafts Private Limited. Together, the two entities had 367 permanent employees as of July 31, 2026.
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