Adroit Industries (India) Limited IPO
Open now23–25 Sep 2026
Latest update:
GMP +17.9% (₹24) · Price band ₹126–₹134 · Closes 25 Sep 2026 · Allotment 28 Sep 2026 (Confirmed) · Lists 30 Sep 2026 (Expected)
What Adroit Industries (India) Limited does
With over four decades of operational experience, we are a vertically integrated manufacturer and supplier of propeller shafts (also known as a drive shaft or cardan shaft) and related torque-transmission components, with in-house capabilities across forging, precision machining, heat treatment, assembly, balancing and testing.
Adroit Industries (India) Limited financials
Rs crore · AnnualLatest year highlighted in green. Sparklines show the trend.
| 2024 | 2025 | 2026 | ||
|---|---|---|---|---|
| Sales | 125 | 134 | 140 | |
| Operating Profit | 30 | 31 | 39 | |
| OPM % | 23.8% | 23.2% | 27.7% | |
| Net Profit | 15 | 18 | 26 | |
| Total Debt | 82 | 65 | 52 |
Adroit Industries (India) Limited IPO offer structure
Total: ₹151 cr. Fresh issue proceeds go to the company; OFS proceeds go to selling shareholders.
Issue size and split come from a public aggregator rather than the exchange, cross-checked against a second one. The offer document states the offer-for-sale as a share count against a blank amount, so it cannot be read from the document itself.
Use of proceeds- Funding capital expenditure by our Company towards procurement of machinery and equipment for enhancement of operations at Dewas Facility and transportation vehicle: ₹20 cr
- Investment in our Subsidiary, Adroit Driveshafts Private Limited, in the form of equity, for funding capital expenditure towards procurement of machinery and equipment for Pithampur Facility and transportation vehicle: ₹44 cr
- Investment in our Subsidiary, Adroit Driveshafts Private Limited, in the form of equity, for re-payment or pre-payment, in full or in part, of certain borrowings availed by our Subsidiary: ₹24 cr
- General Corporate Purposes
Adroit Industries (India) Limited promoters and holding
- Saurabh Sangla: Chairman and Managing Director
- Mukesh Sangla: Non-Executive Director
- Monika Sangla: Promoter
- Swan Irrigation LLP: Promoter
- Shubhangi Trust: Promoter
Adroit Industries (India) Limited strengths and risks
Company-stated strengths and disclosed risk factors from the offer document.
- Offering over 5,000 SKUs of torque-transmission components and assemblies forming part of driveline systems (p.306)
- Vertically integrated manufacturing operations with end-to-end control across forging, machining and assembly operations (p.307)
- Established relationships with diversified customer base and high degree of repeat business (p.308)
- Entry barriers supported by established validation and advanced engineering capabilities (p.310)
- Strong export presence with diversified international customer base (p.311)
- Major portion of our revenue from Sale of Products is derived from export sales and a significant portion of such export sales is concentrated in the United States. (p.29)
- Our revenue from operations is significantly concentrated among a limited number of customers. (p.33)
- Our manufacturing operations are concentrated at facilities located in the state of Madhya Pradesh, India. (p.34)
- Our Company and our Subsidiary, ADPL experienced negative cash flows from certain activities in the past on a consolidated as well as a standalone basis. (p.41)
- There have been multiple instances of delays in statutory filings and non-compliances with respect to corporate and regulatory reporting obligations in the past. (p.37)
Adroit Industries (India) Limited peer comparison: DRHP median P/E 13.0x
Live BSE prices| Company | CMP | P/E | OPM% | ROE% | Source |
|---|---|---|---|---|---|
| Hindustan Hardy Ltd | Rs 785.15 +0.7% | 13.0x | 8.7% | 25.5% | live |
| Talbros Engineering Ltd | Rs 623.15 -0.3% | 10.7x | 11.2% | 20.6% | live |
| GNA Axles Ltd | — | 20.9x | — | — | DRHP |
P/E from offer document where live data unavailable. Not a fair-value judgement.
Adroit Industries (India) Limited market and competition
Adroit Industries is among the few players in India with in-house forging capability. GNA Axles Limited has 53% in domestic market and 47% in export markets in FY26.
Adroit Industries (India) Limited outlook, as the document states it
As part of our growth strategy, we intend to strengthen our manufacturing capabilities through the installation of additional machinery and equipment at our existing Dewas Facility and Pithampur Facility in Madhya Pradesh. We also intend to continue developing and manufacturing additional driveline components and assemblies, including propeller shaft assemblies, universal joints, axle shafts and related components, including recently launched aluminum driveline components.
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Adroit Industries (India) Limited IPO: common questions
What is the Adroit Industries (India) Limited IPO GMP (grey-market premium) today?
As of 23 Sep 2026 the indicative grey-market premium (GMP) for the Adroit Industries (India) Limited IPO is +17.9% from a single grey-market source. GMP is unregulated and self-reported, so treat it as a sentiment signal, never a guarantee. For context, across the 29 IPOs we have tracked from a pre-listing GMP quote through to the actual listing, grey-market premium pointed the right way 79% of the time. Never decide on GMP alone.
When does the Adroit Industries (India) Limited IPO open and close?
The Adroit Industries (India) Limited IPO is open from 23 Sep 2026 to 25 Sep 2026.
What is the Adroit Industries (India) Limited IPO price band?
The price band is ₹126–₹134 per share.
What is the lot size and minimum investment for the Adroit Industries (India) Limited IPO?
One lot is 111 shares, and a retail application must be at least one lot. That is about ₹14,874 at the upper end of the band. An HNI application starts above Rs 2 lakh, so the minimum is higher for that category.
When are the Adroit Industries (India) Limited IPO allotment and listing dates?
Not published yet. Derived from the close date on the usual timetable: allotment around 28 Sep 2026, refund/unblock around 29 Sep 2026 and listing around 30 Sep 2026. Treat these as estimates until the exchange confirms them.
How do I apply for the Adroit Industries (India) Limited IPO?
Through any broker app or your bank's net banking, using a demat account and a PAN. You bid in lots at a price inside the band, or at cut-off. The money is blocked in your account, not debited, until allotment. One application per PAN. We do not recommend brokers and carry no broker links. How to apply, start to finish →
Sources & method
Subscription and issue data come from the NSE and BSE exchange feeds, with the third-party aggregator, clearly labelled, where an exchange feed is unreachable. DRHP analysis is extracted from the offer document itself, every figure cited to its page. Each figure on the page carries its source and its timestamp.
Grey-market premium (GMP) is unregulated.
Every GMP figure is a self-reported grey-market estimate. No exchange, regulator or clearing body records or audits it, and there is no settlement guarantee or recourse. Shown for context only; never decide on GMP alone. New to GMP? The 30-second explainer → Has GMP actually been right? →
How often do these actually open above the issue price?
Of the 519 mainboard IPOs that have listed on the NSE since 2003, 369 (71%) opened above their issue price, at a median of +10%. That is the segment's own record, not a forecast for this issue.