Madhya Pradesh-headquartered auto parts maker Adroit Industries has successfully raised ₹45.21 crore from six anchor investors ahead of its maiden public issue launching on Dalal Street. The company allotted 33.74 lakh shares to these investors on September 22, 2026 at the upper end of its price band of ₹126-134 per share. Among the anchor investors, ace investor Sunil Singhania's Abakkus Asset Manager acquired 7.46 lakh shares worth ₹10 crore, adding to its existing 3.18% stake in the company. Chhattisgarh Investments also purchased 7.46 lakh shares, while Valour Capital Trust and Cognizant Capital Dynamic Opportunities Fund each picked up 5.59 lakh shares worth ₹7.5 crore. Other participants included Aarth AIF Growth Fund (3.88 lakh shares for ₹5.2 crore) and Fortune Hands Growth Fund Scheme (3.73 lakh shares for ₹5 crore).
The company has fixed its price band at ₹126-134 per share and is seeking a valuation of ₹600.4 crore at the upper end of the price band. This will be the sixth company in the mainboard segment opening next week, alongside Varmora Granito, ArMee Infotech, Swastika Infra, Elevate Campuses, and A-One Steels India. The ₹150.71 crore IPO opens for subscription on September 23, 2026 and closes on September 25, 2026. The IPO comprises a fresh issue of 98.97 lakh shares worth ₹132.6 crore and an offer-for-sale of 13.5 lakh shares amounting to ₹18.09 crore by promoter entity Mukesh Sangla HUF.
Ahead of the issue, Adroit Industries IPO's latest grey market premium (GMP) stood at ₹32 as of 11:30 a.m. on September 22, implying an estimated listing premium of 23.88% over the upper price band. With the upper price band of ₹134, the estimated listing price of the IPO is ₹166 (upper end of IPO price band + today's GMP). This implies a 23.88% estimated listing gain over the issue price. However, investors should note that GMP is entirely unofficial, based on speculative unlisted market demand, and does not guarantee the actual listing price.
The company is raising ₹150.7 crore through an initial public offering of 1.12 crore equity shares, with ₹63.8 crore earmarked for procurement of machinery and equipment for enhancement of operations at Dewas and Pithampur facilities, and transportation vehicles for local transportation of goods between manufacturing facilities. Additionally, ₹24.1 crore will be used for repaying debt of its subsidiary Adroit Driveshafts, with the remainder allocated for general corporate purposes. The offer has been structured with 50% reserved for qualified institutional buyers, 15% for non-institutional investors, and 35% for retail investors. The minimum bid requirement is 111 equity shares, with retail investors able to invest a minimum of ₹14,874 and maximum of ₹1,93,362.
Adroit Industries manufactures propeller shafts and precision-machined torque-transmission components and offers over 5,000 SKUs of torque-transmission components and assemblies forming part of driveline systems, catering to both automotive and non-automotive sectors. The company recorded revenue of ₹127.1 crore for the year ended March 2026, representing a 4.9% increase from ₹121.2 crore in the previous year. Exports contributed 95.4% to its revenue in FY26, while domestic business accounted for the remaining portion. As per the latest financial data, the company has demonstrated consistent revenue growth with exports aggregating ₹600.04 million for the six-month period ended September 30, 2025, representing 94.15% of total revenue from sale of products. With over four decades of operational experience, the company serves automotive, primarily commercial vehicles and non-automotive applications, including defence and emergency services, heavy equipment and off-highway machinery and industrial equipment to over 32 countries.
Adroit Industries competes with listed peers including Hindustan Hardy, Talbros Engineering, and GNA Axles. As reported by Moneycontrol, Abakkus Venture Opportunities Fund held a 3.18% stake (pre-offer basis) in the company, while Chattisgarh Investments held 0.64%, and promoters maintained 96.1% shareholding at the time of filing the red herring prospectus. Choice Capital Advisors has been appointed as the sole merchant banker for the IPO, with Bigshare Services serving as the registrar. Saurabh Sangla, Chairman and Managing Director, emphasized the company's vertically integrated capabilities spanning forging, precision machining, heat treatment, assembly, balancing and testing, stating that the company has built an export-led driveline business over four decades with a diversified customer base across automotive and non-automotive applications. Looking ahead, the company plans to focus on strengthening capacity across three manufacturing facilities, improving operational efficiency, and deepening engagement with distributors, OEMs and tier-I customers in India and abroad.
