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NSE, BSE
Adroit Industries (India) Ltd
Listed
Makes propeller shafts and torque-transmission parts for commercial vehicles, SUVs, defence and off-highway uses, with wide exports.
Issue details
Price band
₹126 – ₹134
Face value
₹10
Lot size
111 shares
Minimum investment
₹14,874
Issue size
₹150.71 Cr
Fresh issue
₹132.62 Cr
Offer for sale
₹18.09 Cr
Issue type
Book Built
Exchange
NSE, BSE
Key dates
Opens
23 Sep 2026
Closes
25 Sep 2026
UPI mandate cut-off
5:00 PM on 25 Sep 2026
Allotment
28 Sep 2026
Refunds
29 Sep 2026
Shares in demat
29 Sep 2026
Listing
30 Sep 2026
Subscription and listing
Subscription
122.97x
Listing price
₹235
Registrar
Bigshare Services Pvt Ltd
Lead manager
Choice Capital Advisors Pvt Ltd
Subscription by category
Total
122.97x
Total applications
30,66,100
Anchor investors
Amount raised
₹45.21 Cr
Bid date
22 Sep 2026
50% lock-in ends
27 Oct 2026
Rest lock-in ends
26 Dec 2026
Listing day
Issue price
₹134
Open
₹235.00
High
₹248.39
Low
₹235.00
Day close
₹248.39
Listing gain at open
+75.37%
Issue structure
Shares reserved per category and share of the total issue
QIB
56,23,500
50.00%
Anchor Investor
33,74,100
30.00%
QIB (Ex. Anchor)
22,49,400
20.00%
NII
16,87,050
15.00%
bNII > ₹10L
11,24,700
10.00%
sNII < ₹10L
5,62,350
5.00%
Retail
39,36,450
35.00%
Total
1,12,47,000
100.00%
Finaccle’s quick read
Apply for long term
Solid margins (PAT 18.69%), ROE of 22.54% and D/E of 0.41, but income grew only about 5% in FY26 while PAT rose about 44%, and post-issue P/E of 22.95 looks full.
A rules-based screen of growth, margins, debt and valuation, built from the offer document and data on Chittorgarh.com. It is for information only and is not investment advice or a recommendation to buy or sell. Read the RHP and speak to a SEBI-registered adviser before you apply.
About the company
Adroit Industries (India) is a vertically integrated maker of propeller shafts and torque-transmission parts for vehicle drivelines, offering more than 5,000 SKUs from forgings to complete shaft assemblies. Its customers span commercial vehicles, SUVs, defence, construction and off-highway equipment, and it exported to over 32 countries in FY26. Operations are in Madhya Pradesh (Dewas, with a Pithampur expansion via its subsidiary) and it has 367 permanent staff.
Founded
Promoters
Products and segments
Promoter holding
Financial performance
Period
PAT
ROE
22.54%
ROCE
19.01%
Debt / equity
0.41
PAT margin
18.69%
P/E post issue
22.95
Market cap
₹600.43 Cr
Use of IPO money
Capex at Dewas facility and transport vehicles
₹19.91 Cr
Investment in subsidiary for Pithampur capex
₹43.96 Cr
Investment in subsidiary for debt repayment
₹24.12 Cr
General corporate purposes
₹24.14 Cr
Issue expenses
₹23.29 Cr
Strengths
✓
Strong margins: EBITDA 27.66%, PAT 18.69%
✓
Wide range of over 5,000 driveline SKUs
✓
Export customers in more than 32 countries
✓
Moderate debt/equity of 0.41
✓
About 88% of the issue is fresh capital
Risks to watch
!
Revenue grew only about 5% in FY26
!
PAT rose about 44% while sales barely moved
!
Borrowings jumped from ₹8.32 Cr to ₹52.40 Cr in FY26
!
Post-issue P/E of 22.95 is fairly full
!
Linked to commercial vehicle and capex cycles
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Last updated:
Information is compiled from exchange notices and the company’s offer document. It is for general information only and is not investment advice or a recommendation to apply. Read the prospectus before investing.