Adroit Industries (India) IPO
LISTEDMAINBOARDListing Performance
▲ 75.37%
Issue Price
₹134
Listing Price
₹235
Listed On
30 Sep 2026
- Price Band
- ₹126 – ₹134
- Lot Size
- 111
- Lot Value
- ₹14,874
- Open Date
- 23 Sep23 Sep 2026
- Close Date
- 25 Sep25 Sep 2026
- Min Investment
- ₹14,874
About Adroit Industries (India)
Adroit Industries is an integrated manufacturer and supplier of propeller shafts and torque-transmission components serving distributors, Tier-1 driveline suppliers, and OEMs across international and domestic markets.
Manufactures and supplies propeller shafts and driveline components to automotive OEMs, Tier-1 suppliers, and distributors on an order-based model.
Use of IPO Proceeds
Total allocation: ₹87.98 Cr (excludes issue expenses)
Promoters
Saurabh Sangla
Chairman cum Managing Director
Associated with the Company since March 13, 2007 and has over 18 years of experience in the torque-transmission industry.
Mukesh Sangla
Non-Executive Director
Associated with the Company since March 13, 2007 and has over 18 years of experience in the torque transmission industry.
Monika Sangla
Promoter
Investment Analysis
Quick Analysis: 4 strengths · 6 risk factors· Exchange: Equity
Strengths (4)
- •Vertically integrated manufacturing with specialized equipment across precision forging, machining, and assembly.
- •Long-standing customer relationships with high repeat order rates across 110+ customers.
- •Strong presence in both automotive and non-automotive applications diversifying revenue sources.
- •Significant export presence with established distributor network in Colombia and overseas markets.
Risk Factors (6)
- •First public issue with no formal market history; offer price based on book building assessment cannot be relied upon as indicative of future trading price after listing.
- •No assurance of active or sustained trading in equity shares post-listing; trading price may differ materially from offer price based on market conditions.
- •Non-GAAP financial measures used in prospectus lack standardized methodology; may not be comparable to similar measures of other companies in the industry.
- •Significant accounting differences exist between Ind AS and US GAAP/IFRS; financial results reported under Ind AS may substantially differ under other standards.
- •Investors must rely on commissioned CareEdge industry report which may contain estimates and assumptions proven incorrect; methodologies may not reflect current trends.
- •Equity investment carries high degree of risk; investors may lose entire investment if company performance deteriorates or market conditions worsen.
Demand snapshot
Subscription and grey market data as reported. Not a recommendation.
- Subscribed 176.12x (QIB 195.04x, NII 332.03x, Retail 98.49x) at close
Investor Quota
Approx. shares reserved per category
Estimated from total issue size; actual reserved lots are set in the RHP.
Application Lot Sizes
Retail caps at ₹2,00,000 (13 lots here). S-HNI is ₹2L–₹10L, B-HNI is above ₹10L.
| Category | 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 |
Subscription Status
| Category | Day 1 | Day 2 | Day 3 |
|---|---|---|---|
| QIB | 0.05x | 1.79x | 195.04x |
| sNII (S-HNI) | — | — | — |
| bNII (B-HNI) | — | — | — |
| Retail | 7.22x | 23.00x | 98.49x |
| Total | 5.16x | 17.61x | 176.12x |
Colour: red <1x · amber 1–10x · green ≥10x oversubscribed.
Allotment Statistics
Retail Individual Investors (RII)
Subscription
98.49x
Allotment Ratio
1 lot per 99 applicants
Allotment Probability
~1.0%
Non-Institutional Investors (NII / HNI)
Subscription
332.03x
Allotment Type
Proportionate allotment
Qualified Institutional Buyers (QIB)
Subscription
195.04x
Allotment Type
Discretionary allotment
Total Subscription
176.12x
Allotment probability is estimated based on subscription data and is not guaranteed. Actual allotment depends on the registrar's process.
Basis of Allotment
Category-wise subscription & allotment ratio
Weigh your chances
IPO Timeline
Issue Opens
23 Sep 2026 · Wed
Issue Closes
25 Sep 2026 · Fri
Bidding Cut-off (UPI Mandate)
25 Sep 2026 · 5:00 PM IST
Allotment
28 Sep 2026 · Mon
Listing
30 Sep 2026 · Wed
Issue Opens
23 Sep 2026 · Wed
Issue Closes
25 Sep 2026 · Fri
Bidding Cut-off (UPI Mandate)
25 Sep 2026 · 5:00 PM IST
Allotment
28 Sep 2026 · Mon
Listing
30 Sep 2026 · Wed
IPO Details
| Registrar | Bigshare Services Private Limited |
| Exchange | Equity |
| ISIN | — |
| Face Value | ₹10 |
| Issue Size | ₹150.71 Cr |
| Fresh Issue | — |
| OFS Size | ₹18.09 Cr |
| Lead Managers | Choice Capital Advisors Private Limited |
3-Year Financial Summary
Revenue trend
↑ FY24→FY26
| Fiscal Year | Revenue (₹Cr) | PAT (₹Cr) | EPS | P/E | ROE |
|---|---|---|---|---|---|
| FY26 | 139.94 | 26.16 | 7.49 | 17.88 | 20.34% |
| FY25 | 133.89 | 18.14 | 5.20 | 25.78 | 17.53% |
| FY24 | 124.53 | 14.53 | 4.16 | 32.20 | 16.54% |
Detailed Line Items (₹ Cr)
| Line Item | FY24 | FY25 | FY26 |
|---|---|---|---|
| EBITDA | 29.69 | 31.02 | 38.71 |
| Net Worth | 87.82 | 103.53 | 128.63 |
From the company's offer document (DRHP/RHP); restated figures where available.
Valuation at Issue Price
Issue P/E
17.9x
Price ÷ EPS
EPS (FY26)
₹7
Earnings per share
RoNW
20.34%
Return on net worth
ROCE
—
Not in abridged DRHP
EBITDA margin
27.7%
EBITDA ÷ revenue
Price/NAV
—
NAV not in abridged DRHP
Check the valuation yourself
Company Fundamentals
12 sections extracted from this filingCapital Structure
| Authorised Capital | — |
| Issued Capital | — |
| Paid-up Capital | — |
| Equity Shares (Pre-Issue) | 3,49,11,340 |
| Equity Shares (Post-Issue) | — |
Source: Adroit Industries (India) offer document (DRHP/RHP).
Shareholding Pattern
Pre-Issue
Pre-Issue not disclosed in this filing.Not separately disclosed in Adroit Industries (India)'s filing.
Post-Issue
Post-Issue not disclosed in this filing.Not separately disclosed in Adroit Industries (India)'s filing.
Source: Adroit Industries (India) offer document (DRHP/RHP).
Reservations & OFS
Investor Reservation
- QIB+50.00%
- NII / HNI+15.00%
- Retail+35.00%
OFS Selling Shareholders
- Mukesh Sangla HUF13,50,000 sh
Source: Adroit Industries (India) offer document (DRHP/RHP).
Board & Management
Board of Directors (2)
- Saurabh Sangla₹0.84 Cr p.a.
Chairman and Managing Director
- Mukesh Sangla
Non-Executive Director
Key Managerial Personnel (1)
- B.R. Patidar₹0.01 Cr p.a.
Chief Financial Officer
Source: Adroit Industries (India) offer document (DRHP/RHP).
Industry & Market
Per CareEdge Report, a report commissioned by the company (not independent).
Material Litigation
| Type | Against | Matters | Amount (₹Cr) |
|---|---|---|---|
| Tax | Company | — | 4.392 |
Income tax and custom duty demands under dispute in appeals
Registrar (RTA)
SEBI-registered Registrar & Transfer Agent — handles allotment and refunds.
Registrar:Bigshare Services Private Limited→Lead Managers (BRLMs)
Click any merchant banker for their full IPO track record (positive listing rate, average gain, IPOs managed).
Documents
Frequently Asked Questions
When is the Adroit Industries (India) IPO opening?
The Adroit Industries (India) IPO opens on 23 Sep 2026 and closes on 25 Sep 2026. Check this page for the latest updates as we refresh every 30 minutes.
What is the price band of the Adroit Industries (India) IPO?
The price band for the Adroit Industries (India) IPO is ₹126 to ₹134. The final price is announced after the book-building process and is confirmed before listing.
What is the lot size and minimum investment for the Adroit Industries (India) IPO?
The minimum lot size is 111 shares with a minimum investment of ₹14,874. Retail investors can apply for up to the retail limit defined by SEBI.
What is the GMP of Adroit Industries (India) IPO today?
The latest Grey Market Premium for Adroit Industries (India) is ₹55 (+41.04%). GMP is unofficial data and is not a guarantee of listing price.
When will the Adroit Industries (India) IPO list on NSE and BSE?
The Adroit Industries (India) IPO is expected to list on 30 Sep 2026 on Equity. Actual listing day trading begins at the start of the normal market session.
How can I check the Adroit Industries (India) IPO allotment status?
The registrar for this IPO is Bigshare Services Private Limited. You can check your allotment status on the registrar's portal using your PAN, application number, or DP ID. We link to the registrar directly on our allotment page after the allotment date.
Is the Adroit Industries (India) IPO a mainboard or SME issue?
Adroit Industries (India) is a mainboard IPO that will list on the main NSE and BSE boards. Mainboard IPOs are open to retail investors with a minimum application of one lot.
How do I apply for the Adroit Industries (India) IPO?
You can apply for the Adroit Industries (India) IPO through any SEBI-registered broker such as Zerodha, Upstox, or Angel One using UPI or ASBA while the issue is open for bidding.
What is the GMP-implied price of Adroit Industries (India) IPO?
The GMP-implied price (unofficial, not a forecast) is ₹189: the upper price band of ₹134 plus the latest grey market premium of ₹55, as of 30 Sep 2026, 11:33 PM IST. GMP is unofficial grey market data, and the actual listing price can differ from it.
What is the allotment ratio for Adroit Industries (India) IPO?
Based on the retail subscription of 98.49x, the estimated allotment ratio is 1 lot per 99 applicants (approximately 1.0% chance of allotment). This is an estimate and actual allotment may vary.
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