Adroit Industries Sets IPO Price Band at ₹126-134; Issue Opens September 23

Adroit Industries India will launch its ₹150.7 crore IPO on September 23, as the auto components manufacturer fixed the price band at ₹126-134 per share. 

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Based in Madhya Pradesh and managed by Sunil Singhania’s Abakkus Asset Manager, Adroit will offer 1.12 crore equity shares via its IPO. The company will receive the major share of funds, as the fresh issue will comprise of 98.97 lakh shares worth ₹132.6 crore. Promoter entity Mukesh Sangla HUF will sell 13.5 lakh shares worth ₹18.09 crore through the offer for sale route. 

If the price of Adroit is fixed at ₹134 per share, then its valuation would be ₹600.4 crore. 

The IPO will be open till September 25. The anchor book will be available to institutional investors on September 22, one day before the bidding starts. 

Qualified institutional buyers will get the allotment of 50% of the shares. Non-institutional investors will receive 15%, while 35% of the shares will be reserved for retail investors. 

A minimum of 111 shares can be bid, and in multiples of 111 thereafter. It means that the minimum bid by the retail investor will be ₹14,874, and the maximum retail investment will be ₹1,93,362. 

Adroit expects to finalise the allotment by September 28, with its shares scheduled to make their market debut on September 30. 

Fresh funds to go towards expansion and debt repayment 

Adroit plans to put ₹53.7 crore from the net fresh issue proceeds into machinery and equipment for its Dewas and Pithampur facilities. Part of this allocation will also be used to purchase a vehicle for transporting goods between its manufacturing units. 

Another ₹20.2 crore has been earmarked for repayment of debt at subsidiary Adroit Driveshafts. The balance will be available for general corporate purposes. 

The company had filed its draft offer documents in March 2026 and received SEBI approval in August. 

Adroit manufactures propeller shafts and precision-machined torque-transmission components used in driveline systems. Its portfolio runs to more than 5,000 stock-keeping units and serves both automotive and non-automotive customers. 

Exports account for the overwhelming majority of the business. In FY26, 95.4% of revenue came from overseas markets, leaving 4.6% from domestic operations. 

Revenue for the year ended March 2026 stood at ₹127.1 crore, up 4.9% from ₹121.2 crore a year earlier. 

Ahead of the offer, promoters held 96.1% of Adroit. Abakkus Venture Opportunities Fund owned 3.18%, while Chattisgarh Investments held 0.64%. 

Choice Capital Advisors is the sole merchant banker to the issue.