Adroit Industries Sets IPO Price Band at ₹126–₹134 Ahead of September 23 Launch

Adroit Industries (India) Limited, a vertically integrated manufacturer of propeller shafts and driveline components, has finalised the terms of its initial public offering (IPO), with the bidding window set to open on Wednesday, September 23, 2026. The public issue, valued at up to ₹150.71 crore, will run through Friday, September 25, 2026.

The company has fixed the price band in the range of ₹126 to ₹134 per equity share having a face value of ₹10 each. Retail investors can bid for a minimum lot size of 111 shares, requiring an investment of ₹14,874 at the upper price limit, with bids permitted in multiples of 111 shares thereafter.

Issue Breakdown and Timeline

The issue comprises a fresh offering of up to 1,12,47,000 equity shares to raise ₹150.71 crore.

The key tentative dates for the offering are:

• IPO Opens: September 23, 2026
• IPO Closes: September 25, 2026
• Basis of Allotment: September 28, 2026
• Listing on BSE and NSE: September 30, 2026

Choice Capital Advisors Private Limited is acting as the book running lead manager for the issue, while Bigshare Services Private Limited serves as the registrar.

Utilisation of Proceeds

Adroit Industries has earmarked identified proceeds of ₹87.99 crore to support balance-sheet deleveraging and manufacturing expansions. Specifically, the company intends to utilise the capital for:

• Funding capital expenditure for machine procurement
• Equity infusion into its subsidiary, Adroit Driveshafts Private Limited (ADPL), for capex procurement
• Debt repayment and prepayment, in full or part, for certain borrowings availed by ADPL
• General corporate purposes

Business Footprint and Export Profile

Operating across multiple facilities in Madhya Pradesh, including Indore, Dewas, and Dhar, Adroit Industries manufactures precision-machined torque-transmission components, propeller shafts (cardan shafts), and assemblies. With in-house operations encompassing forging, machining, heat treatment, and testing, the company maintains a portfolio of over 5,000 SKUs.

Unlike several domestic-focused auto component suppliers, Adroit relies overwhelmingly on global markets, with export sales contributing around 95% of its total revenue. The United States forms the primary export destination, generating 53.76% of its overseas business.

Financial Snapshot

Adroit Industries has demonstrated operational growth over the last three fiscal years. Profit after tax (PAT) rose from ₹14.53 crore in FY24 to ₹18.14 crore in FY25, and reached ₹26.16 crore in FY26. Over the same timeframe, the company's PAT margin widened from 11.67% to 18.69%, supported by operational integration and cost management. The company's leverage profile has also improved, with its debt-to-equity ratio easing to 0.41x ahead of the public issue.

Tags: Adroit Industries IPO BSE NSE Auto Ancillaries SEBI