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Adroit Industries (India) Limited IPO
Propeller Shafts · Torque-Transmission Components · Auto Ancillary · Thane, Maharashtra
📋 Mainline IPO
Fresh + OFS
NSE, BSE
₹134
Upper Price
₹150.71 Cr
Issue Size
Sep 30, 2026
Listing Date
₹467.81 Cr
Market Cap (Pre)
📅 IPO Timetable
All dates tentative🟢
IPO Opens
Wednesday, 23 September 2026
Bidding starts — apply before close
🔒
IPO Closes
Friday, 25 September 2026
Last day to bid — closes at 5:00 PM IST
📊
Basis of Allotment
Monday, 28 September 2026
Allotment finalised by registrar
🔄
Refund & Share Credit
Tuesday, 29 September 2026
Unallotted funds returned; shares credited to demat
🏷️
Wednesday, 30 September 2026
Trading begins from 10:00 AM IST
📋 IPO Details
IPO Open Date23 September 2026 (Wed)
IPO Close Date25 September 2026 (Fri)
Listing Date30 September 2026 (Wed)
Face Value₹10 per share
Price Band₹126 to ₹134
Issue Price (Upper Band)₹134 per share
Issue TypeBook Build — Fresh + OFS
Lot Size111 shares
Total Issue Size1,12,47,000 shares (₹150.71 Cr)
Fresh Issue98,97,000 shares (₹132.62 Cr)
Offer for Sale (OFS)13,50,000 shares (₹18.09 Cr)
Pre-Issue Shares3,49,11,340
Post-Issue Shares4,48,08,340
Promoter Holding (Pre)96.10%
Market Cap (Pre-IPO)₹467.81 Cr
Listing ExchangeNSE, BSE
Lead ManagerChoice Capital Advisors Pvt.Ltd.
RegistrarBigshare Services Pvt.Ltd.
💰 Lot Size & Minimum Investment
At upper price ₹134| Investor Type | Lots | Shares | Amount |
|---|---|---|---|
| Retail — Minimum | 1 | 111 | ₹14,874 |
| Retail — Maximum | 13 | 1,443 | ₹1,93,362 |
| S-HNI (sNII) — Min | 14 | 1,554 | ₹2,08,236 |
| S-HNI (sNII) — Max | 67 | 7,437 | ₹9,96,558 |
| B-HNI (bNII) — Min | 68 | 7,548 | ₹10,11,432 |
⚠️ Note: Investors can bid for a minimum of 111 shares and in multiples thereof. Retail individual investors can apply up to ₹2,00,000.
👥 Investor Reservation
Allocated portion of Net OfferNot more than 50.00%
QIB Portion
Not less than 35.00%
Retail Portion
Not less than 15.00%
NII Portion
📊 Subscription Status
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📈 Company Financials
Restated Consolidated · ₹ Crore| Metric | 31 Mar 2026 | 31 Mar 2025 | 31 Mar 2024 |
|---|---|---|---|
| Total Assets | 212.74 | 187.01 | 199.39 |
| Total Income | 143.04 | 136.61 | 125.10 |
| PAT | 26.16 | 18.14 | 14.53 |
| EBITDA | 38.71 | 31.02 | 29.69 |
| Net Worth | 128.63 | 103.53 | 87.82 |
| Reserves & Surplus | 105.59 | 96.92 | 78.79 |
| Total Borrowing | 52.40 | 8.32 | 16.29 |
Income Growth
FY 2023–24₹125.10 Cr
FY 2024–25₹136.61 Cr
FY 2025–26₹143.04 Cr
🎯 Key Performance Indicators
22.54%
ROE
FY 2025–26
0.41
Debt/Equity
FY 2025–26
19.01%
ROCE
FY 2025–26
18.69%
PAT Margin
FY 2025–26
27.66%
EBITDA Margin
FY 2025–26
22.51%
RoNW
FY 2025–26
3.64x
Price/Book
FY 2025–26
36.84
NAV
FY 2025–26
⚖️ Valuation & EPS
Pre-IPO EPS
₹7.49
FY26 earnings + pre-issue shares
P/E: 17.89xPost-IPO EPS
₹5.84
FY26 earnings + post-issue shares
P/E: 22.95xPrice to Book Value
3.64x
At upper price band ₹134
Market Cap (Pre-IPO)
₹467.81 Cr
At issue price ₹134
ℹ️
Pre-IPO EPS (₹7.49) based on pre-issue shares (3,49,11,340) and FY26 restated PAT (₹26.16 Cr). Post-IPO EPS (₹5.84) accounts for the dilution resulting from the issuance of 98,97,000 fresh equity shares extending the total post-issue equity to 4,48,08,340 shares. Post-IPO Market Cap expands to ₹600.43 Cr at the upper issue price of ₹134.
🎯 Objects of the Issue
Net proceeds utilisation1
Funding capital expenditure by the Company towards procurement of: (i) machinery and equipment for enhancement of operations at Dewas Facility; and (ii) transportation vehicle for local transportation of goods between the Manufacturing Facilities
₹19.91 Cr
2
Investment in the Subsidiary, Adroit Driveshafts Private Limited, in the form of debt or equity or a combination thereof, for funding capital expenditure towards procurement of: (i) machinery and equipment for enhancement of operations at Pithampur Facility; and (ii) transportation vehicle for local transportation of goods between the Manufacturing Facilities
₹43.96 Cr
3
Investment in the Subsidiary, Adroit Driveshafts Private Limited, in the form of debt or equity or a combination thereof, for re-payment or pre-payment, in full or in part, of certain borrowings availed by the Subsidiary
₹24.12 Cr
4
General Corporate Purposes
Balance
Total Fresh Issue Goal
₹132.62 Cr
🏢 About Adroit Industries (India) Ltd.
Est. 1995 · Thane, Maharashtra · Driveline & Propeller Shaft SolutionsAdroit Industries (India) Limited, incorporated in January 1995, is a vertically integrated engineering manufacturer and supplier of propeller shafts and precision torque-transmission components used in driveline systems. The company boasts an extensive product catalog of over 5,000 SKUs encompassing complete propeller shaft assemblies, precision-machined torque components, and specialized forgings.
The business maintains fully integrated manufacturing infrastructure executing in-house forging, precision machining, heat treatment, dynamic balancing, and assembly. This vertical integration allows strict quality control across components serving commercial vehicles, SUVs, defense/emergency vehicles, heavy industrial machinery, and off-highway equipment. Supplying directly to global Tier-1 driveline vendors and OEMs, Adroit Industries maintains an active international footprint exporting to customers across more than 32 countries throughout North America, Europe, Latin America, the Middle East, Africa, and Asia-Pacific. Supported by its operating subsidiary, Adroit Driveshafts Private Limited, the organization employs 367 permanent personnel.
Brand Ecosystem
⚙️
Propeller Shaft Assemblies
Complete heavy-duty propeller shaft trains engineered for commercial vehicles and off-highway systems.
🔧
Torque Components
Precision-machined torque transmission components and specialized forgings covering over 5,000 SKUs.
🏭
Integrated Manufacturing
End-to-end production lines across Dewas and Pithampur facilities covering forging, heat treatment, and testing.
🌎
Global Tier-1 Supplier
Established supply chain networks servicing OEMs and Tier-1 driveline clients across 32+ international nations.
Competitive Strengths
🏆Broad product diversity with over 5,000 SKUs catering to varied commercial and specialized defense applications.
🌎Diversified international customer network distributing products across 32+ countries in Europe and the Americas.
⚙️Comprehensive vertical integration providing strict quality validation from primary forging to balancing.
📈Healthy financial health delivering ₹26.16 Cr in PAT, a 22.54% ROE, and a conservative Debt/Equity ratio of 0.41 in FY26.
Company Promoters
SS
Saurabh Sangla, Mukesh Sangla & Monika Sangla
Promoters, Adroit Industries (India) Ltd.
ST
Shubhangi Trust, Shreya Trust & Swan Irrigation LLP
Promoter Entities, Adroit Industries (India) Ltd.
Key Selling Shareholders (OFS)
Mukesh Sangla (HUF)13,50,000 Shares (₹18.09 Cr)
📅 Key Dates
IPO Opens23 Sep 2026
IPO Closes25 Sep 2026
Allotment28 Sep 2026
Refund & Share Credit29 Sep 2026
Listing Day30 Sep 2026
💡 Quick Summary
Price Band₹126 – ₹134
Upper Price₹134 / share
Lot Size111 shares
Min. Investment (Retail)₹14,874
Issue Size₹150.71 Cr
ListingBSE, NSE
🏦 Registrar & Lead Manager
Lead Manager
Choice Capital Advisors Pvt.Ltd.
📍 Registered Address
Adroit Industries (India) Ltd.
Gala No. 02, Building No. A-2, Gr. Floor,
Print World Industrial Complex, Survey No. 15/1,
Mankoli Road, Vehele, Bhiwandi, Thane, Maharashtra — 421302
📞 +91 91711 14099
[email protected]
Gala No. 02, Building No. A-2, Gr. Floor,
Print World Industrial Complex, Survey No. 15/1,
Mankoli Road, Vehele, Bhiwandi, Thane, Maharashtra — 421302
📞 +91 91711 14099
[email protected]
🛡️ Regulatory Note: Mainline IPO investments are subject to SEBI regulations. Always read the Prospectus/RHP before applying. Consult a SEBI-registered advisor before investing.
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Disclaimer: This page presents publicly available information from the Adroit Industries IPO RHP for informational purposes only. It does not constitute investment advice. IPO investments are subject to market risk. Please read all offer documents and consult a SEBI-registered advisor before investing.
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