Adroit Industries (India) IPO
UPCOMINGMAINBOARDUpcoming Issue
₹989718.09 Cr
Opens
23 Sep 2026
Fresh / OFS
₹989700.00 Cr / ₹18.09 Cr
- Price Band
- ₹126 – ₹134
- Lot Size
- 111
- Lot Value
- ₹14,874
- Open Date
- 23 Sep 2026
- Close Date
- 25 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: BSE, NSE
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.
📊 Algorithmic Score
Computed from issue structure — GMP, fresh issue %, OFS %, issue size
Why do these differ? The Algorithmic Score measures issue quality (structure, size, promoter commitment). The Demand Analysis measures investor interest signals (subscription, GMP, risks). A high-quality issue can still have unconfirmed demand — especially before subscription opens.
✍️ Demand & Risk Analysis
Based on market demand signals — subscription, GMP trend, risk factors
IPO Market Analysis
ANALYSIS PENDINGRating will be available once IPO opens for subscription.
This is algorithmic analysis, not investment advice. Always read the DRHP before investing.
GMP Trend
GMP data will appear a few days before the IPO opens.
Quick Profit Calculator
Pre-filled: Issue Price = ₹134, Lot Size = 111 shares
Number of Lots
| Lots | Investment |
|---|---|
| 1 | ₹14,874 |
| 2 | ₹29,748 |
| 3 | ₹44,622 |
| 5 | ₹74,370 |
| 10 | ₹1,48,740 |
Estimated profit based on GMP. Actual listing price may vary.
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
Subscription data will appear once bidding begins.
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 | BSE, NSE |
| ISIN | — |
| Face Value | ₹10 |
| Issue Size | ₹989718.09 Cr |
| Fresh Issue | ₹989700.00 Cr |
| 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
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?
Grey Market Premium data for Adroit Industries (India) is not available yet. It typically starts appearing a few days before the IPO opens.
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 BSE, NSE. 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. Use the Apply Now buttons on this page to go directly to the broker.
Should I subscribe to Adroit Industries (India) IPO?
Based on our algorithmic analysis, Adroit Industries (India) IPO is rated UNRATED with low confidence. Rating will be available once subscription and GMP data is collected. This is not investment advice — please read the DRHP and consult a financial advisor before investing.
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