Adroit Industries (India) Limited is a manufacturer and supplier of propeller shafts and torque-transmission components used in automotive and industrial driveline systems. The company has vertically integrated manufacturing capabilities covering forging, precision machining, heat treatment, assembly, balancing and testing. Its product portfolio includes more than 5,000 SKUs of torque-transmission components and propeller shaft assemblies supplied to automotive, defence, heavy equipment and other industrial applications.
The company serves a diversified customer base comprising distributors, Tier-1 suppliers and original equipment manufacturers. Its business is predominantly export-oriented, with more than 94% of revenue from product sales derived from international markets across North America, Europe, Latin America, the Middle East, Africa and Asia-Pacific. Adroit Industries operates manufacturing facilities in Dewas, Pithampur and Sanwer in Madhya Pradesh.
The Adroit Industries IPO is a book-built public issue comprising a fresh issue of up to 98,97,000 equity shares and an offer for sale of up to 13,50,000 equity shares by Mukesh Sangla HUF. The total offer comprises up to 1,12,47,000 equity shares. The shares are proposed to be listed on the BSE and NSE.
The IPO will open on 23 September 2026 and close on 25 September 2026. The price band is ₹126 to ₹134 per share and the lot size is 111 shares. At the upper price band, one lot requires an investment of ₹14,874. The shares are scheduled to be listed on 30 September 2026.
Table of Contents
Adroit Industries IPO Details Information
| Particular | Details |
|---|---|
| IPO Name | Adroit Industries IPO |
| Company Name | Adroit Industries (India) Limited |
| IPO Type | Mainboard IPO |
| Issue Type | Book Built Issue |
| Face Value | ₹10 per Equity Share |
| IPO Price | ₹126 to ₹134 per Share |
| Total Issue Size | ₹150.71 Cr |
| Fresh Issue | ₹132.62 Cr |
| Offer for Sale | ₹18.09 Cr |
| Listing At | BSE & NSE |
| IPO Open Date | 23 September 2026 |
| IPO Close Date | 25 September 2026 |
| Lot Size | 111 Shares |
| Minimum Investment | ₹14,874 |
| Listing Date | 30 September 2026 |
| Registrar | Bigshare Services Private Limited |
| Lead Manager | Choice Capital Advisors Private Limited |
Adroit Industries IPO Dates
| IPO Event | Date |
|---|---|
| IPO Open Date | 23 September 2026 |
| IPO Close Date | 25 September 2026 |
| Basis of Allotment | 28 September 2026 |
| Initiation of Refunds | 29 September 2026 |
| Credit of Shares to Demat | 29 September 2026 |
| Listing Date | 30 September 2026 |
Adroit Industries IPO Reservation
| Investor Category | Shares Offered |
|---|---|
| Anchor Investors | 33,74,100 (30%) |
| Qualified Institutional Buyers (QIB) | 22,49,400 (20%) |
| Non-Institutional Investors (NII) | 16,87,050 (15%) |
| Retail Individual Investors (RII) | 39,36,450 (35%) |
| Total | 1,12,47,000 (100%) |
Adroit Industries IPO Lot Size
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail Minimum | 1 | 111 | ₹14,874 |
| Retail Maximum | 13 | 1,443 | ₹1,93,362 |
| S-HNI Minimum | 14 | 1,554 | ₹2,08,236 |
| S-HNI Maximum | 67 | 7,437 | ₹9,96,558 |
| B-HNI Minimum | 68 | 7,548 | ₹10,11,432 |
About Adroit Industries
Adroit Industries (India) Limited was established in 1966 and has developed manufacturing capabilities in propeller shafts and related torque-transmission components. The company operates manufacturing facilities in Madhya Pradesh and has in-house capabilities across several stages of production.
The company offers more than 5,000 SKUs of torque-transmission components and assemblies forming part of driveline systems. Its product portfolio primarily includes precision-machined torque-transmission components and complete propeller shaft assemblies.
Adroit Industries also manufactures forged components that are used as intermediate inputs in its machining and assembly operations. Its products are supplied through distributors, Tier-1 suppliers and directly to OEMs.
Business Operations
- Propeller Shafts: Manufacturing of propeller shafts and driveline assemblies.
- Torque-Transmission Components: Production of precision-machined components.
- Forging: In-house forging of components used in further manufacturing.
- Precision Machining: Machining of components according to technical requirements.
- Heat Treatment: In-house treatment processes for manufactured components.
- Assembly and Testing: Balancing, assembly and testing of finished products.
- OEM Supply: Products supplied to OEMs, Tier-1 suppliers and distributors.
Industry Overview
Propeller shafts are important torque-transmission components used in automotive and industrial driveline systems. Demand is linked to commercial vehicles, passenger vehicles with applicable driveline configurations, tractors, construction equipment and mining machinery. Propeller shafts also have applications in railways, defence vehicles and industrial equipment.
Business Strategy
- Capacity Expansion: Invest in capital expenditure and procurement to support manufacturing requirements.
- Vertical Integration: Continue leveraging in-house forging, machining, heat treatment and assembly capabilities.
- Subsidiary Investment: Invest in Adroit Driveshafts Private Limited for capital expenditure.
- Product Development: Maintain a broad portfolio of torque-transmission products and assemblies.
- Market Reach: Serve OEMs, Tier-1 suppliers and distributors across domestic and international markets.
Adroit Industries Financial Information
| Financial Year | Total Assets (₹ Cr) | Revenue (₹ Cr) | PAT (₹ Cr) |
|---|---|---|---|
| FY2024 | 199.39 | 125.10 | 14.53 |
| FY2025 | 187.01 | 136.61 | 18.14 |
| FY2026 | 212.74 | 143.04 | 26.16 |
Adroit Industries reported growth in revenue and profit in FY2026, with revenue of about ₹143.04 crore and PAT of ₹26.16 crore.
Financial Summary
| Particular | FY2024 | FY2025 | FY2026 |
|---|---|---|---|
| Revenue | ₹125.10 Cr | ₹136.61 Cr | ₹143.04 Cr |
| PAT | ₹14.53 Cr | ₹18.14 Cr | ₹26.16 Cr |
| Total Assets | ₹199.39 Cr | ₹187.01 Cr | ₹212.74 Cr |
| Net Worth | ₹87.82 Cr | ₹103.53 Cr | ₹128.63 Cr |
Key Performance Indicators (KPIs)
| KPI | FY2026 |
|---|---|
| EPS | ₹7.49 |
| P/E | 17.89x |
| ROE | 22.54% |
| ROCE | 19.01% |
| RoNW | 22.51% |
| PAT Margin | 18.69% |
| Debt/Equity | 0.41 |
| NAV | ₹36.84 |
The valuation figures are based on the IPO price information and financial data reported from the issue documents.
Objects of IPO
The company proposes to use the net proceeds from the fresh issue for strengthening its manufacturing capabilities and supporting the expansion of its business operations. A portion of the funds is proposed to be used for capital expenditure at the company’s Dewas facility, including the procurement of machinery and equipment for enhancing operations and a transportation vehicle for movement of goods between manufacturing facilities.
The company also proposes to invest in its subsidiary, Adroit Driveshafts Private Limited, through debt or equity for capital expenditure at its Pithampur facility. The proposed investment is intended to support the purchase of machinery and equipment and a transportation vehicle for local movement of goods between manufacturing facilities.
Another portion of the IPO proceeds is proposed to be invested in Adroit Driveshafts Private Limited for repayment or prepayment, in full or in part, of certain borrowings availed by the subsidiary. The company has disclosed ₹16.768 crore for its proposed capital expenditure, ₹36.964 crore for investment in the subsidiary for capital expenditure and ₹20.268 crore for investment in the subsidiary for loan repayment in the DRHP. The remaining proceeds will be used for general corporate purposes, subject to the final offer documents.
The offer for sale component will not result in any proceeds being received by Adroit Industries. The proceeds from the OFS will accrue to the selling shareholder after deducting applicable offer-related expenses and taxes.
- Capital Expenditure: Funding capital expenditure towards procurement.
- Investment in Subsidiary: Investment in Adroit Driveshafts Private Limited for capital expenditure.
- Repayment of Borrowings: Investment in the subsidiary for repayment or pre-payment of certain borrowings.
- General Corporate Purposes: Funding general corporate requirements.
The company will not receive proceeds from the OFS portion.
Adroit Industries IPO Listing Performance
Adroit Industries IPO is scheduled to list on the BSE and NSE on 30 September 2026. Since the listing has not taken place yet, the actual listing price, listing gain or loss and first-day trading performance are not available. The eventual listing price will be determined by market trading and can be compared with the final IPO issue price.
The IPO price band is ₹126 to ₹134 per share, with a lot size of 111 shares. The issue is a book-built offering and the final issue price will be determined within the disclosed price band through the IPO process. The DRHP also states that the offer price should not be considered indicative of the market price after listing.
Investors should distinguish between unofficial grey market indications, if available, and the actual exchange-listed performance of the shares. Grey market prices are not official exchange prices and may change before listing. The actual listing price and subsequent market performance can only be established after trading commences on the BSE and NSE.
| Listing Details | Information |
|---|---|
| Listing Exchange | BSE & NSE |
| IPO Price | ₹126 to ₹134 |
| Listing Price | Yet to be Updated |
| Listing Gain/Loss | Yet to be Updated |
| Closing Price on Listing Day | Yet to be Updated |
Adroit Industries IPO GMP
The latest available unofficial GMP was ₹33 per share on 20 September 2026, against the upper price band of ₹134. GMP is an unofficial grey-market indicator and can change before listing.
GMP History
| Date | GMP | Sub2 | Kostak |
|---|---|---|---|
| 20 September 2026 | ₹33 | — | — |
| 19 September 2026 | ₹33 | — | — |
| 18 September 2026 | ₹18 | — | — |
Adroit Industries IPO Subscription Status
The IPO subscription status will be updated after bidding begins on 23 September 2026.
| Investor Category | Subscription |
|---|---|
| Qualified Institutional Buyers (QIB) | To be updated |
| Non-Institutional Investors (NII) | To be updated |
| Retail Individual Investors (RII) | To be updated |
| Employee Category | Not applicable |
| Total Subscription | To be updated |
Adroit Industries IPO Review
Adroit Industries has a long operating history and vertically integrated manufacturing capabilities in propeller shafts and torque-transmission components. Its portfolio of more than 5,000 SKUs provides exposure to multiple driveline applications.
The company also reported improving profitability, with PAT increasing from ₹14.53 crore in FY2024 to ₹26.16 crore in FY2026. Investors should consider the company’s customer and export exposure, industry conditions, valuation and risks disclosed in the offer documents.
Strengths
- Long Operating History – Established in 1966 with decades of experience in driveline components.
- Vertically Integrated Manufacturing – In-house forging, machining, heat treatment, assembly and testing capabilities.
- Diversified Product Portfolio – More than 5,000 SKUs across torque-transmission components and assemblies.
- Improving Profitability – PAT increased to ₹26.16 crore in FY2026 from ₹14.53 crore in FY2024.
- Multiple Customer Channels – Supplies products to distributors, Tier-1 suppliers and OEMs.
Risk Factors
- Export Exposure – A significant portion of revenue is generated from overseas markets, creating exposure to international trade conditions.
- Customer Concentration – Dependence on key customers can affect revenue if orders decline.
- Automotive Industry Dependence – Demand is linked to automotive and industrial vehicle production.
- Raw Material Costs – Changes in input prices can affect margins.
- Competition – The company operates in a competitive automotive-component industry.
- IPO Valuation – Investors should assess the valuation at the final issue price.
Promoters
The promoters of Adroit Industries (India) Limited are Saurabh Sangla, Mukesh Sangla, Monika Sangla, Shubhangi Trust, Shreya Trust and Swan Irrigation LLP. The promoters and promoter group have been associated with the company’s manufacturing and business activities and are involved in guiding its strategic and operational development.
Saurabh Sangla is the Chairman and Managing Director of the company and has experience in manufacturing and the torque-transmission industry. Mukesh Sangla is a Non-Executive Director and has more than four decades of experience in commodity and polymer trading, manufacturing and torque-transmission activities.
| Promoter | Category |
|---|---|
| Saurabh Sangla | Promoter |
| Mukesh Sangla | Promoter |
| Monika Sangla | Promoter |
| Swan Irrigation LLP | Promoter Group |
| Shubhangi Trust | Promoter Group |
| Shreya Trust | Promoter Group |
Management Team
The management team of Adroit Industries is responsible for overseeing the company’s manufacturing operations, business strategy, financial management and day-to-day activities. Saurabh Sangla serves as Chairman and Managing Director, while Mukesh Sangla is a Non-Executive Director. The company’s key managerial personnel include Sumit Purohit as Chief Financial Officer and Lokendra Garhwal as Company Secretary, according to the company’s disclosed management information.
The management focuses on strengthening the company’s integrated manufacturing capabilities, expanding production capacity, increasing automation and improving its presence in international markets. The company has also stated its strategy of increasing OEM engagement, adopting advanced manufacturing technologies and expanding its product portfolio.
| Name | Designation |
|---|---|
| Saurabh Sangla | Chairman & Managing Director |
| Mukesh Sangla | Non-Executive Director |
| Surabhi Agrawal | Non-Executive Independent Director |
| Mradul Jain | Company Secretary & Compliance Officer |
The company website identifies its leadership and investor-related information, while IPO information identifies Mradul Jain as the Company Secretary and Compliance Officer.
Registrar Details
Bigshare Services Private Limited is the registrar to the Adroit Industries IPO. The registrar is responsible for processing IPO applications, maintaining investor application records and coordinating activities related to allotment, refunds and credit of shares. Investors can approach the registrar for queries relating to their IPO applications and allotment status.
The disclosed contact person is Babu Rapheal C. The registrar’s telephone number is +91 22 6263 8200 and the email address provided for the IPO is [email protected]. Investors should refer to the final offer documents for the latest contact details.
| Particular | Details |
|---|---|
| Registrar | Bigshare Services Private Limited |
| Address | Pinnacle Business Park, Mahakali Caves Road, Andheri East, Mumbai |
| Phone | +91 86575 78989 / 80692 19065 / 80692 19060 |
| [email protected] | |
| Website | bigshareonline.com |
Lead Manager Details
Choice Capital Advisors Private Limited is the book running lead manager for the Adroit Industries IPO. The lead manager is responsible for coordinating various activities related to the public issue, including issue management, due diligence, regulatory coordination, documentation and other processes associated with the IPO.
The disclosed contact persons are Nimisha Joshi and Aditya Chanani. The contact telephone numbers are +91 22 6707 9999 and 7919, and the IPO email address provided in the offer document is [email protected]. Investors should refer to the final offer documents for the latest issue-related contact information.
| Particular | Details |
|---|---|
| Lead Manager | Choice Capital Advisors Private Limited |
| Address | 156-158, J.B. Nagar, Andheri East, Mumbai |
| [email protected] | |
| Website | choiceindia.com |
| SEBI Registration No. | INM000011872 |
Company Contact Details
| Particular | Details |
|---|---|
| Company | Adroit Industries (India) Limited |
| Registered Office | Gala No. 02, Building No. A-2, Print World Industrial Complex, Bhiwandi, Thane, Maharashtra – 421302 |
| Corporate Office | Plot No. 99, Smart Industrial Park, Near NATRIP, Dhar, Madhya Pradesh |
| Phone | +91 91711 14099 |
| [email protected] | |
| Website | https://adroitindustries.com/ |
| CIN | U74999MH1995PLC084474 |
How to Check Allotment Status
Adroit Industries IPO allotment status can be checked online after the basis of allotment is finalised. Applicants can use the IPO registrar’s website or the BSE website to check the status of their application. Investors generally need to enter their PAN, application number or other details requested on the respective platform to view whether shares have been allotted.
Through Registrar
- Visit the Bigshare Services IPO status page.
- Select Adroit Industries (India) Limited.
- Enter PAN or application details.
- Submit the details to check the allotment status.
Through BSE
- Visit the BSE IPO application-status section.
- Select the equity issue.
- Select Adroit Industries (India) Limited.
- Enter the required application or PAN details.
- Submit to view the allotment result.
Conclusion
Adroit Industries IPO is a book-built public issue comprising a fresh issue of up to 98,97,000 equity shares and an offer for sale of up to 13,50,000 equity shares. The total offer comprises up to 1,12,47,000 equity shares. The price band is fixed at ₹126 to ₹134 per share and the lot size is 111 shares. The IPO opens on 23 September 2026 and closes on 25 September 2026, with listing scheduled for 30 September 2026 on the BSE and NSE.
Adroit Industries operates in the automotive and industrial driveline components segment and manufactures propeller shafts, torque-transmission components and related assemblies. The company has more than 5,000 SKUs and serves customers across more than 25 countries. Its three manufacturing facilities support various stages of production, including forging, machining, heat treatment, assembly, balancing and testing.
The fresh issue proceeds are proposed to support capital expenditure at the Dewas facility, investments in Adroit Driveshafts Private Limited for capital expenditure and repayment or prepayment of certain borrowings. Investors should also consider the company’s export concentration, customer concentration, automotive exposure, financial performance and other risk factors disclosed in the offer documents.
Before applying, investors should review the latest offer documents, price band, valuation, financial statements, objects of the issue, promoter details and risk factors. The final IPO documents should be referred to for any changes in issue size, dates, pricing, allocation or other offer terms.
Adroit Industries IPO FAQs
What is Adroit Industries IPO?
Adroit Industries IPO is a ₹150.71 crore mainboard book-built issue comprising a fresh issue and an offer for sale.
When will Adroit Industries IPO open?
The IPO will open on 23 September 2026.
When will Adroit Industries IPO close?
The IPO will close on 25 September 2026.
What is the Adroit Industries IPO price band?
The price band is ₹126 to ₹134 per share.
What is the Adroit Industries IPO lot size?
The minimum lot size is 111 shares.
What is the minimum investment in Adroit Industries IPO?
The minimum investment is ₹14,874 for one lot of 111 shares at the upper price band.
What is the Adroit Industries IPO issue size?
The total issue size is ₹150.71 crore.
What is the Adroit Industries IPO listing date?
The tentative listing date is 30 September 2026.
Who is the registrar of Adroit Industries IPO?
The registrar is Bigshare Services Private Limited.
Who is the lead manager of Adroit Industries IPO?
The lead manager is Choice Capital Advisors Private Limited.
