Adroit Industries (India) IPO
Adroit Industries (India) IPO at a glance
Adroit Industries (India) IPO was a mainboard issue of ₹150.71 Cr at a price band of ₹126 – ₹134 per share, open from 23 Sep 2026 to 25 Sep 2026. It was subscribed 14.76 times overall (QIB 0.07x, NII 23.29x, retail 20.4x). The shares listed on BSE, NSE on 30 Sep 2026.
IPO Signal Analysis
📊 Based on Grey Market Premium (GMP) & Subscription Data — not financial advice
Not financial advice
Issue Details
Objects of the Issue
- 💰 Machinery and vehicles at the Dewas facility — ₹19.91 Cr
- 💰 Investment in a subsidiary for the Pithampur facility — ₹43.96 Cr
- 💰 Investment in a subsidiary to repay its borrowings — ₹24.12 Cr
- 💰 General corporate purposes
About the Company
Adroit Industries (India), incorporated in 1995 and based in Bhiwandi, Maharashtra, makes propeller shafts and other torque-transmission parts for vehicle driveline systems — more than 5,000 SKUs including shaft assemblies, forged parts and precision-machined components. Its products go into commercial vehicles, SUVs, defence and emergency vehicles, construction and off-highway machinery, and it exports to over 32 countries.
Strengths
- ✅ Wide product range of more than 5,000 SKUs
- ✅ Exports to over 32 countries across several continents
- ✅ Vertically integrated, with forging and machining in-house
- ✅ PAT rose from ₹14.5 Cr in FY24 to ₹26.2 Cr in FY26
Risk Factors
- ⚠️ Income growth has been slow, about 5% a year
- ⚠️ Borrowings rose sharply in FY26, to about ₹52 Cr from ₹8 Cr
- ⚠️ Demand follows the vehicle and construction-equipment cycle
- ⚠️ Most of the IPO money goes into new plants through subsidiaries, so returns depend on execution
Subscription Status
GMP Trend
Day-wise Subscription
| Day | QIB | NII | RII | Overall |
|---|---|---|---|---|
| Day 1 | — | — | — | 0.00x |
| Day 2 | — | — | — | 0.00x |
| Day 3 | — | — | — | 0.00x |
Share Reservation
Allocation as per SEBI regulations for Mainboard IPO
Anchor Investors
Promoter Holding
Founders & Leadership
IPO Timeline
Key Financials
Company Financials (Restated Consolidated)
| Period Ended | FY26 | FY25 | FY24 |
|---|---|---|---|
| Total Income | 143.04 | 136.61 | 125.10 |
| Profit After Tax | 26.16 | 18.14 | 14.53 |
| Net Worth | 128.63 | 103.53 | 87.82 |
| Total Borrowing | 52.40 | 8.32 | 16.29 |
Amount in ₹ Crore
Key Performance Indicators (KPI)
| KPI | FY26 | FY25 |
|---|---|---|
| ROE (%) | 20.34 | 17.52 |
| Debt / Equity | 0.41 | 0.08 |
| Net Worth (Rs. Cr) | 128.63 | 103.53 |
| Metric | Pre IPO | Post IPO |
|---|---|---|
| EPS | ₹5.84 | — |
| P/E (x) | 22.95x | — |
| ROE (%) | 22.51% | — |
| Promoter Holding | 96.1% | 71.86% |
| Market Cap | ₹600 Cr | |