Adroit Industries (India) IPO: Price Band, Lot Size, Financials & Review
Adroit Industries (India) IPO listed on BSE & NSE on Wed, 30 Sep 2026. The issue was subscribed 176.85x overall.
- Open Date
- 23 Sep 2026
- Close Date
- 25 Sep 2026
Last updated
- Price band
- ₹126 – ₹134
- Lot size
- 111 shares
- Min. investment
- ₹14,874
- Issue size
- ₹150.71 Cr
- Last GMP
- +₹55
- Subscribed
- 🔥 176.85x
Adroit Industries (India) IPO details
Adroit Industries (India) IPO is a ₹150.71 Cr book-building IPO on the Mainboard segment, listing on BSE & NSE. It combines a fresh issue of ₹132.62 Cr (88.00%) with an offer for sale of ₹18.09 Cr (12.00%) by existing shareholders. Only the fresh issue money goes to the company.
The issue was open from Wed, 23 Sep 2026 to Fri, 25 Sep 2026. Allotment was finalised on Mon, 28 Sep 2026, and the shares listed on BSE & NSE on Wed, 30 Sep 2026.
The price band is ₹126 to ₹134 per share and the lot size is 111 shares, so the minimum retail application is ₹14,874. Retail investors can apply for up to 13 lots (1,443 shares, ₹1,93,362).
Bigshare Services Pvt Ltd is the registrar, and Choice Capital Advisors Pvt Ltd is the book running lead manager.
Grey market premium (GMP)
Day-wise GMP →The last Adroit Industries (India) IPO GMP before listing was +₹55 (+41.04% against the upper price band of ₹134), implying an estimated listing price of ₹189. Across 10 days of tracking, GMP ranged from +₹32 (21 Sep) to +₹58 (27 Sep).
| Last GMP | +₹55 |
|---|---|
| GMP vs upper band | +41.04% |
| Estimated listing price | ₹189 |
| Highest (27 Sep) | +₹58 |
| Lowest (21 Sep) | +₹32 |
Grey market trading is unofficial and unregulated. GMP is a sentiment indicator, not a guarantee of the listing price. See the Adroit Industries (India) IPO day-wise GMP.
Subscription
Day-wise subscription →Adroit Industries (India) IPO was subscribed 176.85x overall: QIB 195.04x, NII 332.35x and retail 99.81x.
| Category | Subscribed |
|---|---|
| QIB | 195.04x |
| NII | 332.35x |
| └ bNII (above ₹10 lakh) | 345.97x |
| └ sNII (₹2–10 lakh) | 305.09x |
| Retail | 99.81x |
| Total | 176.85x |
Final figures at the close of bidding on 25 Sep 2026. Category-wise bids, application-wise breakup and allotment chances are on the Adroit Industries (India) IPO day-wise and category-wise subscription page.
Share reservation by category
| Category | Shares offered | Share of issue |
|---|---|---|
| Anchor Investors | 33,74,100 | 30.00% |
| Qualified Institutions | 22,49,400 | 20.00% |
| Non-Institutional | 16,87,050 | 15.00% |
| └ BNII | 11,24,700 | 10.00% |
| └ SNII | 5,62,350 | 5.00% |
| Retail Investors | 39,36,450 | 35.00% |
| Total | 1,12,47,000 | 100.00% |
Shares offered include the anchor investor portion, which is allotted a day before the issue opens. Subscription figures exclude anchors, so category sizes on the subscription page are smaller.
Adroit Industries (India) IPO lot size
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (Min) | 1 | 111 | ₹14,874 |
| Retail (Max) | 13 | 1,443 | ₹1,93,362 |
| S-HNI (Min) | 14 | 1,554 | ₹2,08,236 |
| S-HNI (Max) | 67 | 7,437 | ₹9,96,558 |
| B-HNI (Min) | 68 | 7,548 | ₹10,11,432 |
Amounts at the upper end of the price band.
Issue structure and valuation
It combines a fresh issue of ₹132.62 Cr (88.00%) with an offer for sale of ₹18.09 Cr (12.00%) by existing shareholders. Only the fresh issue money goes to the company.
At the upper price band of ₹134, the issue is priced at 17.89x pre-issue earnings and 22.95x post-issue earnings per share.
The post-issue P/E is higher because the fresh issue adds new shares, which spreads the same profit over more shares.
Listed peers with positive earnings trade at a median P/E of 12.98x (3 companies).
Promoter holding falls from 96.10% before the issue to 71.86% after it.
| EPS (pre-issue) Latest earnings per share before the issue | ₹7.49 |
|---|---|
| P/E (pre-issue) Upper price band ÷ pre-issue EPS | 17.89x |
| EPS (post-issue) EPS on the enlarged share capital | ₹5.84 |
| P/E (post-issue) Upper price band ÷ post-issue EPS | 22.95x |
| Promoter holding (pre-issue) | 96.10% |
| Promoter holding (post-issue) | 71.86% |
Adroit Industries (India) Limited financials
Between 31 Mar 2025 and 31 Mar 2026, Income rose from ₹136.61 Cr to ₹143.04 Cr, and profit after tax rose from ₹18.14 Cr to ₹26.16 Cr. The PAT margin for 31 Mar 2026 was 18.29%.
| Period ended | 31 Mar 2026 | 31 Mar 2025 | 31 Mar 2024 |
|---|---|---|---|
| Assets | 212.74 | 187.01 | 199.39 |
| Total Income | 143.04 | 136.61 | 125.10 |
| Profit After Tax | 26.16 | 18.14 | 14.53 |
| EBITDA | 38.71 | 31.02 | 29.69 |
| Net Worth | 128.63 | 103.53 | 87.82 |
| Reserve & Surplus | 105.59 | 86.07 | 70.37 |
| Total Borrowings | 52.40 | 8.32 | 16.29 |
₹ in crore, as stated in the prospectus.
Key performance indicators
| KPI | 31 Mar 2026 | Mar 2025 | Mar 2024 |
|---|---|---|---|
| ROE % | 22.54 | 18.97 | 18.99 |
| ROCE % | 19.01 | 17.06 | 15.11 |
| Debt / Equity | 0.41 | 0.63 | 0.94 |
| RoNW % | 22.51 | 18.94 | 18.95 |
| Pat Margin % | 18.69 | 13.55 | 11.67 |
Peer comparison
| Company | Face value | P/E | EPS (basic) | EPS (diluted) | RoNW | NAV |
|---|---|---|---|---|---|---|
| Adroit Industries (India) Ltd | 10 | — | 7.48 | 7.48 | 22.51% | 36.84 |
| Hindustan Hardy Ltd | 10 | 12.98 | 55.92 | 55.92 | 25.00% | 250.24 |
| Talbros Engineering Ltd | 10 | 10.70 | 57.34 | 57.34 | 17.32% | 359.20 |
| GNA Axles Ltd | 10 | 20.85 | 27.24 | 27.24 | 12.28% | 233.89 |
From the prospectus. P/E is shown as — when earnings are zero or negative, or not reported for the issuer before listing.
Objectives
The company intends to allocate the net proceeds from the offering to the following objectives.
| Sr | Objective |
|---|---|
| 1 | Funding capital expenditure by our Company towards procurement of; (i) machinery and equipment for enhancement of operations at Dewas Facility; and (ii) transportation vehicle for local transportation of goods between the Manufacturing Facilities |
| 2 | Investment in our Subsidiary, Adroit Driveshafts Private Limited, in the form of debt or equity or a combination thereof, for funding capital expenditure towards procurement of; (i) machinery and equipment for enhancement of operations at Pithampur Facility; and (ii) transportation vehicle for local transportation of goods between the Manufacturing Facilities |
| 3 | Investment in our Subsidiary, Adroit Driveshafts Private Limited, in the form of debt or equity or a combination thereof, for re-payment or pre-payment, in full or in part, of certain borrowings availed by our Subsidiary |
| 4 | General Corporate Purposes |
About Adroit Industries (India) Limited
Adroit Industries (India) Ltd., incorporated in 1966, is an established manufacturer of propeller shafts, torque-transmission components, and other precision-engineered products used across the automotive, defense, heavy equipment, and industrial machinery sectors.
The company operates a fully integrated manufacturing setup, covering key processes such as forging, machining, assembly, and testing under one manufacturing ecosystem. This integrated approach enables Adroit to maintain consistent quality standards, improve production efficiency, and exercise greater control over the manufacturing process.
With a portfolio of more than 5,000 products, Adroit serves a diverse customer base comprising distributors, leading component manufacturers, OEMs, and industrial customers. Its products are primarily used in commercial vehicles, defense applications, heavy earth-moving and mining equipment, and a wide range of industrial machinery where reliable torque transmission and high-performance drivetrain components are essential.
Adroit's manufacturing facilities are located in Madhya Pradesh, India, and are equipped to support large-scale production while meeting the quality and technical requirements of various domestic and international customers.
The company has established relationships with several reputed organizations across the automotive, engineering, defense, mining, and industrial sectors. Its customer base includes Godrej & Boyce Manufacturing Company Limited, BEML Limited, VE Commercial Vehicles Limited, Sandvik Mining and Rock Technology India Private Limited, Oilgear India Private Limited, and other prominent industrial and infrastructure companies.
In addition to its strong domestic presence, Adroit has developed a significant international footprint, exporting its products to more than 25 countries across North America, Europe, Asia-Pacific, and other global markets. The company's long-standing relationships with established customers and its diversified product portfolio contribute to recurring business and provide a stable foundation for long-term growth.
Overall, Adroit Industries has built its position around manufacturing integration, a broad product portfolio, diversified end-market exposure, established customer relationships, and an expanding international presence, making it a recognized supplier of torque-transmission and drivetrain components for automotive and industrial applications.
Promoters
- Saurabh Sangla
- Mukesh Sangla
- Monika Sangla
- Shubhangi Trust
- Shreya Trust
- Swan Irrigation
Contact details
Adroit Industries (India) Ltd.
Gala No. 02, Building No. A-2, Gr. Floor
Print World Industrial Complex, Survey No. 15/1,
Mankoli Road, Vehele, Shastrinagar, Bhiwandi
Thane, Maharashtra, 421302
Telephone: +91 91711 14099
E-mail: cs@adroitindustries.com
Website: https://www.adroitindustries.com/
Adroit Industries (India) IPO FAQs
- What is the Adroit Industries (India) IPO price band?
- The Adroit Industries (India) IPO price band is ₹126 to ₹134 per share.
- What is the Adroit Industries (India) IPO lot size and minimum investment?
- The Adroit Industries (India) IPO lot size is 111 shares. The minimum retail investment is ₹14,874 for one lot at the upper price band. Retail investors can apply for up to 13 lots (1,443 shares), costing ₹1,93,362.
- When was Adroit Industries (India) IPO open for subscription?
- Adroit Industries (India) IPO was open for subscription from Wed, 23 Sep 2026 to Fri, 25 Sep 2026.
- What is the Adroit Industries (India) IPO subscription status?
- Adroit Industries (India) IPO was subscribed 176.85x overall: QIB 195.04x, NII 332.35x and retail 99.81x. Day-wise and category-wise figures are on the subscription page.
- What was the Adroit Industries (India) IPO GMP before listing?
- The last Adroit Industries (India) IPO GMP before listing was +₹55 (+41.04% against the upper price band of ₹134), implying an estimated listing price of ₹189. Across 10 days of tracking, GMP ranged from +₹32 (21 Sep) to +₹58 (27 Sep). GMP is an unofficial grey market indicator and can change quickly.
- What is the Adroit Industries (India) IPO allotment date?
- The Adroit Industries (India) IPO basis of allotment was finalised on Mon, 28 Sep 2026. You can check your allotment status on the Bigshare Services Pvt Ltd website.
- What is the Adroit Industries (India) IPO listing date?
- Adroit Industries (India) IPO listed on BSE & NSE on Wed, 30 Sep 2026.
- Is the Adroit Industries (India) IPO a fresh issue or an offer for sale?
- It combines a fresh issue of ₹132.62 Cr (88.00%) with an offer for sale of ₹18.09 Cr (12.00%) by existing shareholders. Only the fresh issue money goes to the company.
- Who are the registrar and lead managers of the Adroit Industries (India) IPO?
- The registrar for the Adroit Industries (India) IPO is Bigshare Services Pvt Ltd, and the book running lead manager is Choice Capital Advisors Pvt Ltd.
Data is compiled from the prospectus, stock exchanges and market sources and is for information only. It is not investment advice; read the RHP before applying.