Adroit Industries shares make stellar debut, list at 87% premium over IPO 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 pric...
By Ritesh Presswala, ETMarkets.com | Updated:
ETMarkets.com
In a stellar start on Dalal Street, shares of Adroit Industries listed at 87% premium over IPO price on Wednesday. The stock opened at Rs 250 on the BSE, implying a 86.57% premium over issue price of Rs 134. Meanwhile, the stock opened at Rs 235, indicating 75.37% listing gains.
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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Adroit Industries shares are scheduled to list on both the NSE and BSE on September 30, 2026.
Choice Capital Advisors Pvt. Ltd. is the book-running lead manager for the issue, while Bigshare Services Pvt. Ltd. is the registrar
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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.
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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.
Adroit supplies its products through distributors, Tier-1 driveline component suppliers and directly to original equipment manufacturers (OEMs), catering to customer-specific technical requirements.
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.
Disclaimer: The views/recommendations mentioned in this article, wherever applicable, are those of the respective SEBI-registered Research Analyst/brokerage and have been reproduced/reported with due attribution. They should not be construed as the views or recommendations of The Economic Times Digital or the journalist. Readers are advised to consider the original research report and make their investment decisions based on their own assessment. Brokerage disclaimers here
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.
Read more: ArMee Infotech shares to list today: Check GMP ahead of debut
Adroit Industries shares are scheduled to list on both the NSE and BSE on September 30, 2026.
Choice Capital Advisors Pvt. Ltd. is the book-running lead manager for the issue, while Bigshare Services Pvt. Ltd. is the registrar
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Adroit Industries IPO: Objects of the issue
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.
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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.
Read more: Swastika Infra shares to list today: Check GMP ahead of debut
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Financial performance
Adroit Industries (India) Ltd. reported a 5% increase in total income, which rose from Rs 137 crore in FY25 to Rs 143 crore in FY26. Profit after tax (PAT) increased 44%, from Rs 18 crore in FY25 to Rs 26 crore in FY26, indicating a stronger bottom-line performance during FY26.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.
Adroit supplies its products through distributors, Tier-1 driveline component suppliers and directly to original equipment manufacturers (OEMs), catering to customer-specific technical requirements.
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.
Disclaimer: The views/recommendations mentioned in this article, wherever applicable, are those of the respective SEBI-registered Research Analyst/brokerage and have been reproduced/reported with due attribution. They should not be construed as the views or recommendations of The Economic Times Digital or the journalist. Readers are advised to consider the original research report and make their investment decisions based on their own assessment. Brokerage disclaimers here
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