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    Adroit Industries (India) IPO

    Updated 11 Nov 2026, 6:45 pm.

    Open Demat Account
    GMP disclaimer: GMP is unofficial and unregulated. It is not a recommendation or a reliable estimate of listing price or returns. Consider the RHP and your own risk assessment before applying.

    Minimum investment (Retail)

    ₹14,874

    1 lot · 111 shares at the upper price band

    Price band

    ₹134

    Latest GMP

    ₹58

    +43.3% of the ₹134 upper band

    Est. listing price

    ₹192

    Issue size

    ₹150.71 Cr

    Listing price

    ₹235.00

    NSE ADROITIND, special pre-open price

    Listing gain

    +75.4%

    Listing price against the issue price

    First-day close

    ₹248.39

    Since issue

    +52.3%

    ₹204.08 close, 13 Nov 2026

    As NSE lists it

    The exchange's own issue data, NSE symbol ADROITIND · read 14 Nov 2026, 12:15 am

    Price band
    ₹126–134
    Bidding
    23 Sept 2026 – 25 Sept 2026
    Subscribed (NSE)
    —
    Shares offered
    —
    Listed
    30 Sept 2026
    Issue price
    ₹134

    NSE's subscription counts bids on its own platform and can differ from the combined NSE + BSE figure above.

    Allotment status

    Check it on the registrar's page or either exchange with your PAN or application number.

    1. Allotment finalised28 Sept 2026(done)
    2. Refunds start29 Sept 2026(done)
    3. Shares credited to demat29 Sept 2026(done)
    4. Listing30 Sept 2026(done)
    Check on Bigshare Services Pvt.Ltd.Check on BSECheck on NSE

    GMP history

    Each point is a recorded observation from the scheduled data sync.

    ObservedGMPEst. listing price
    30 Sept 2026, 1:50 pm₹58₹192
    30 Sept 2026, 1:45 pm₹58₹192
    29 Sept 2026, 6:50 pm₹58₹192
    29 Sept 2026, 6:45 pm₹58₹192
    29 Sept 2026, 1:50 pm₹56₹192
    29 Sept 2026, 1:45 pm₹58₹192
    29 Sept 2026, 8:50 am₹58₹192
    29 Sept 2026, 8:45 am₹58₹192
    28 Sept 2026, 6:50 pm₹58₹192
    28 Sept 2026, 6:45 pm₹58₹192
    28 Sept 2026, 1:50 pm₹58₹192
    28 Sept 2026, 1:45 pm₹58₹192
    28 Sept 2026, 8:50 am₹58₹192
    28 Sept 2026, 8:45 am₹58₹192
    26 Sept 2026, 6:50 pm₹50₹181
    26 Sept 2026, 6:45 pm₹47₹181
    26 Sept 2026, 1:50 pm₹48₹181
    26 Sept 2026, 1:45 pm₹47₹181
    26 Sept 2026, 8:50 am₹41₹168
    26 Sept 2026, 8:45 am₹34₹168
    25 Sept 2026, 6:50 pm₹41₹168
    25 Sept 2026, 6:45 pm₹34₹168
    25 Sept 2026, 1:45 pm₹34₹168
    25 Sept 2026, 8:50 am₹34₹168
    25 Sept 2026, 8:45 am₹34₹168
    24 Sept 2026, 6:50 pm₹36₹168
    24 Sept 2026, 6:45 pm₹34₹168
    24 Sept 2026, 1:50 pm₹35₹168
    24 Sept 2026, 1:45 pm₹34₹168
    24 Sept 2026, 8:50 am₹34₹168
    24 Sept 2026, 8:45 am₹34₹168
    23 Sept 2026, 6:50 pm₹35₹168
    23 Sept 2026, 6:45 pm₹34₹168
    23 Sept 2026, 1:50 pm₹34₹168
    23 Sept 2026, 1:45 pm₹34₹168
    23 Sept 2026, 8:50 am₹34₹168
    23 Sept 2026, 8:45 am₹34₹168
    22 Sept 2026, 6:50 pm₹29₹166
    22 Sept 2026, 6:45 pm₹32₹166
    22 Sept 2026, 1:50 pm₹29₹166
    22 Sept 2026, 1:45 pm₹32₹166
    22 Sept 2026, 8:50 am₹32₹166
    22 Sept 2026, 8:45 am₹32₹166
    21 Sept 2026, 6:50 pm₹32₹166
    21 Sept 2026, 6:45 pm₹32₹166
    21 Sept 2026, 1:50 pm₹32₹166
    21 Sept 2026, 1:46 pm₹32₹166
    21 Sept 2026, 11:23 am₹32₹166
    21 Sept 2026, 8:45 am₹32₹166
    19 Sept 2026, 6:45 pm₹37₹171
    19 Sept 2026, 1:45 pm₹37₹171
    19 Sept 2026, 8:45 am₹37₹171

    GMP is an unofficial, unregulated grey-market estimate — not a prediction of listing performance.

    Issue details

    Board
    Mainboard
    Price band
    ₹134
    Issue size
    ₹150.71 Cr
    Lot size
    111
    Opens
    23 Sept 2026
    Closes
    25 Sept 2026
    Allotment
    28 Sept 2026
    Listing
    30 Sept 2026
    Est. listing price
    ₹192
    Listing price
    ₹235
    Listing gain
    +75.4%
    Registrar
    Bigshare Services Pvt.Ltd.
    Minimum investment
    ₹14,874 (1 lot · 111 shares)
    Face value
    ₹10 per share
    Issue type
    Bookbuilding IPO
    Sale type
    Fresh capital cum OFS
    Fresh issue
    ₹133 Cr
    Offer for sale
    ₹18 Cr
    Listing at
    BSE, NSE
    Refunds
    29 Sept 2026
    Shares credited
    29 Sept 2026
    Promoter holding
    96.1% before · 71.86% after
    Lead managers
    Choice Capital Advisors Pvt.Ltd.

    Offer documents & links

    Red Herring Prospectus (RHP)Check allotment statusCompany website

    Subscription by category

    As of 25 Sept 2026, 6:54 pm.

    Total subscription

    176.85x

    Qualified Institutional195.04×
    Non Institutional332.35×
    Retail Individual99.81×

    Full issue details

    Details as published for this issue, read 29 Sept 2026, 2:05 pm. Verify against the RHP before applying.

    IPO Details

    IPO Date23 to 25 Sep, 2026
    Listing DateWed, Sep 30, 2026 (tentative)
    Face Value₹ 10 per share
    Price Band₹126 to ₹134
    Issue Price₹134 per share
    Lot Size111 Shares
    Sale TypeFresh capital cum OFS
    Issue TypeBookbuilding IPO
    Listing AtBSE, NSE
    Total Issue Size1,12,47,000 shares (agg. up to ₹ 151 Cr)
    Fresh Issue98,97,000 shares (agg. up to ₹ 133 Cr)
    Offer for Sale13,50,000 shares of ₹ 10 (agg. up to ₹ 18 Cr)
    Share Holding Pre Issue3,49,11,340 shares
    Share Holding Post Issue4,48,08,340 shares

    IPO Timetable (Tentative)

    IPO Open
    Wed, Sep 23, 2026
    IPO Close
    Fri, Sep 25, 2026
    Allotment
    Mon, Sep 28, 2026
    Refund
    Tue, Sep 29, 2026
    Credit of Shares
    Tue, Sep 29, 2026
    Listing
    Wed, Sep 30, 2026

    Issue Reservation

    • QIB50.00%
    • NII (HNI)15.00%
    • Retail35.00%
    Issue Reservation: Share of the issue reserved for each investor category. Figures as published in the table below.
    Investor CategoryShares% of Total IssueMax Allottees
    QIB56,23,50050.00%NA
    - Anchor Investor33,74,10030.00%NA
    - QIB (Ex. Anchor)22,49,40020.00%NA
    NII (HNI)16,87,05015.00%NA
    - bNII > ₹10L11,24,70010.00%723
    - sNII < ₹10L5,62,3505.00%361
    Retail39,36,45035.00%35,463
    Total1,12,47,000100.00%—

    Adroit Industries IPO comprises a total issue size of 1,12,47,000 shares. Out of which, 56,23,500 (50.00%) are allocated to QIB , 16,87,050 (15.00%) allocated to NII 39,36,450 (35.00%) allocated to RII .

    IPO Lot Size

    Retail (Min)₹14,874
    Retail (Max)₹1,93,362
    S-HNI (Min)₹2,08,236
    S-HNI (Max)₹9,96,558
    B-HNI (Min)₹10,11,432
    IPO Lot Size: What an application costs at the upper price band, by category. Figures as published in the table below.
    ApplicationLotsSharesAmount
    Retail (Min)1111₹14,874
    Retail (Max)131,443₹1,93,362
    S-HNI (Min)141,554₹2,08,236
    S-HNI (Max)677,437₹9,96,558
    B-HNI (Min)687,548₹10,11,432

    Investors can bid for a minimum of 111 shares and in multiples thereof.

    IPO Anchor Investors

    Bid DateTue, Sep 22, 2026
    Shares Offered33,74,100
    Anchor Portion (₹ Cr.)45.21
    Anchor lock-in period end date for 50% shares (30 Days)Wed, Oct 28, 2026
    Anchor lock-in period end date for remaining shares (90 Days)Sun, Dec 27, 2026

    Adroit Industries IPO raises ₹ 45.21 crore from anchor investors . Adroit Industries IPO Anchor bid date is September 22, 2026 .

    📝 Anchor Investors Letter (PDF)

    About Adroit Industries (India) Ltd.

    Incorporated in January 1995, Adroit Industries (India) Limited is a vertically integrated manufacturer and supplier of propeller shafts and torque-transmission components used in driveline systems. The Company offers a portfolio of over 5,000 SKUs comprising precision-machined torque-transmission components, complete propeller shaft assemblies and forged components. Its vertically integrated manufacturing capabilities cover forging, precision machining, heat treatment, assembly, balancing and testing, enabling end-to-end control over the production process.

    The Company supplies its products through distributors, Tier-1 driveline component suppliers and directly to OEMs, based on customer-specific technical requirements. Its products cater primarily to commercial vehicles, as well as SUVs, defence and emergency services, heavy equipment, off-highway machinery and industrial applications.

    The Company has a strong export presence, supplying products to customers across North America, Europe, Latin America, the Middle East, Africa and Asia-Pacific. During Fiscal 2026, it supplied products to customers across more than 32 countries.

    The Company is supported by its subsidiary, Adroit Driveshafts Private Limited, and together they had 367 permanent employees as of July 31, 2026.

    Competitive Strengths

    Portfolio of over 5,000 SKUs.

    Healthy financial performance.

    Diversified international customer base.

    Strong engineering and validation capabilities.

    Vertically integrated manufacturing operations.

    Experienced promoters and management team.

    Established customer relationships and repeat business.

    Company Financials (Restated Consolidated)

    Total Income

    31 Mar 2024125.10
    31 Mar 2025136.61
    31 Mar 2026143.04

    Profit After Tax

    31 Mar 202414.53
    31 Mar 202518.14
    31 Mar 202626.16

    EBITDA

    31 Mar 202429.69
    31 Mar 202531.02
    31 Mar 202638.71

    NET Worth

    31 Mar 202487.82
    31 Mar 2025103.53
    31 Mar 2026128.63
    Company Financials (Restated Consolidated): Each line is scaled to its own largest period, ₹ crore - compare periods within a line, not one line against another. Figures as published in the table below.
    Period Ended31 Mar 202631 Mar 202531 Mar 2024
    Assets212.74187.01199.39
    Total Income143.04136.61125.10
    Profit After Tax26.1618.1414.53
    EBITDA38.7131.0229.69
    NET Worth128.63103.5387.82
    Reserves and Surplus105.5996.9278.79
    Total Borrowing52.408.3216.29
    Amount in ₹ Crore

    Adroit Industries (India) Ltd.'s revenue increased by 5% and profit after tax (PAT) rose by 44% between the financial year ending with March 31, 2026 and March 31, 2025.

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    IPO Objects of the Issue

    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 Facilities19.91
    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 Facilities43.96
    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 Subsidiary24.12
    IPO Objects of the Issue: What the proceeds are earmarked for (₹ Cr.). Figures as published in the table below.
    #Issue ObjectsEst Amt (₹ Cr.)
    1Funding 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 Facilities19.91
    2Investment 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 Facilities43.96
    3Investment 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 Subsidiary24.12
    4General Corporate Purposes—
    Total87.98

    The Company proposes to utilise the Net Proceeds from the Issue towards the following objects:

    Key Performance Indicator (KPI)

    KPIMar 31, 2026
    ROE22.54%
    ROCE19.01%
    Debt/Equity0.41
    RoNW22.51%
    PAT Margin18.69%
    EBITDA Margin27.66%
    NAV36.84
    Price to Book Value3.64

    Check IPO Peer Comparison here.

    IPO Valuation

    Valuation MetricPre IPOPost IPO
    EPS (₹)7.495.84
    P/E (x)17.8922.95
    Market Cap at Offer Price₹467.81 Cr.₹600.43 Cr

    Disclaimer

    The value will be calculated using Equity Dilution = Share Holding Pre Issue - Share Holding Post Issue

    The Pre IPO EPS is calculated based on Pre issue shareholding as on date of RHP and the latest FY earnings as of March 31, 2026 available in RHP.

    The Post Issue EPS is calculated based on the Post issue shareholding and annualized FY earnings of March 31, 2026 available in RHP.

    Shareholding Structure

    Pre IPO

    • Promoter and Promoter Group96.1%
    • Public3.90%

    Post IPO

    • Promoter and Promoter Group71.86%
    • Public28.14%
    Shareholding Structure: Who holds the company before and after the issue. Figures as published in the table below.
    CategoryPre IPOPost IPO
    Promoter and Promoter Group96.1%71.86%
    Public3.90%28.14%
    Total100%100%

    Company Promoters: Saurabh Sangla, Mukesh Sangla, Monika Sangla, Shubhangi Trust, Shreya Trust and Swan Irrigation LLP.

    Offer For Sale - Selling Shareholder

    NameCategoryNo. of Shares OfferedAmount (₹ cr.)
    Mukesh Sangla (HUF)Promoter13,50,00018.09
    Total—13,50,00018.09

    Adroit Industries IPO Recommendations

    Review BySubscribeMay ApplyNeutralAvoid
    Brokers0020
    Members0000

    IPO Subscription Status

    CategorySubscription (x)Shares OfferedShares bid for
    QIB (Ex Anchor)195.0422,49,40043,87,19,397
    NII332.3516,87,05056,06,83,422
    bNII (> ₹10L)345.9711,24,70038,91,15,939
    sNII (< ₹10L)305.095,62,35017,15,67,483
    Retail99.8139,36,45039,28,92,381
    Total176.8578,72,9001,39,22,95,200

    The Adroit Industries IPO is subscribed 176.85 times on September 25, 2026 6:54:40 PM (Day 3). The public issue subscribed 99.81 times in the retail category, 195.04 times in the QIB category, and 332.35 times in the NII category. Check Day by Day Subscription Details (Live Status)

    Reload

    Total Applications: 31,47,253

    IPO Registrar

    Bigshare Services Pvt.Ltd.

    8657578989/8069219065/8069219060

    ipo@bigshareonline.com

    IPO Lead Manager(s)

    Choice Capital Advisors Pvt.Ltd.

    Contact Details

    Adroit Industries (India) Ltd. Address

    Gala No. 02, Building No. A-2, Gr. Floor

    Print World Industrial Complex, Survey No. 15/1,

    Mankoli Road, Vehele, Shastrinagar,

    Bhiwandi, Maharashtra , 421302

    +91 91711 14099

    cs@adroitindustries.com

    Adroit Industries (India) IPO in the news

    Recent coverage in the financial press. Headlines are the publishers' own; verify details with the RHP.

    Adroit Industries Limited has completed an IPO in the amount of INR 1.507098 billion.

    marketscreener.com · 29 Sept 2026

    Adroit Industries IPO allotment: How to check status on BSE, NSE, Bigshare Services

    IndiaIPO · 29 Sept 2026

    Adroit Industries IPO Allotment: 1 In 80 Retail Chance, Check Your Status Now!

    IPO Central · 28 Sept 2026

    Adroit Industries IPO allotment today, check status on BSE, NSE and Bigshare Services; latest GMP

    India TV News · 28 Sept 2026

    Adroit Industries IPO allotment today as GMP hints strong listing; How to check share finalisation status on NSE, BSE, Bigshare Services

    ET Now · 28 Sept 2026

    Adroit Industries (India) IPO wraps up with stellar subscription

    Business Standard · 28 Sept 2026

    Adroit Industries IPO Allotment Status: Check Shares, GMP and Listing Date

    Kalkine India · 28 Sept 2026

    Adroit Industries IPO Allotment Status: Check Allocation Online

    HDFC Sky · 28 Sept 2026

    FAQ

    Adroit Industries (India): common questions

    Answered from this issue's own record.

    The Adroit Industries (India) Mainboard IPO is priced at ₹134 per share, for an issue size of ₹150.71 crore.

    The issue opens on 23 Sept 2026 and closes on 25 Sept 2026, with listing expected on 30 Sept 2026.

    One lot is 111 shares, and applications must be in multiples of a lot. At the upper band that is ₹14,874 for one lot.

    Latest recorded subscription: QIB 195.04x, NII 332.35x, retail 99.81x (as of 11 Nov 2026).

    Adroit Industries (India) listed at ₹235 on 30 Sept 2026. That was a gain of 75.37% against the issue price.