Mumbai (Maharashtra) [India], September 21: Adroit Industries (India) Limited is a vertically integrated manufacturer of propeller shafts and torque-transmission components with over four decades of operational experience, serving automotive, primarily commercial vehicles, and non-automotive applications, including defence and emergency services, heavy equipment and off-highway machinery and industrial equipment across more than 32 countries, proposes to open its Initial Public Offering on Wednesday, September 23, 2026 with an offer size of up to ₹150.71 crore at the upper price band, with shares to be listed on the BSE & NSE.
Total Offer Size- Up to 1,12,47, 000 Equity Shares of face value of ₹10 each
Fresh Issue Size – Up to 98,97,000 Equity Shares
OFS size – Up to 13,50,000 Equity Shares
Total Size – ₹ 150.71 Crore (At Upper Price Band)
Price Band – ₹ 126 – ₹ 134 per share
Lot Size – 111 Equity Shares
The offer size is up to 1,12,47,000 Equity Shares with a face value of ₹10 each with a price band of ₹126 – ₹134 Per Share.
Equity Share Allocation
QIB Portion – Not more than 50.00% of the Offer
Non-Institutional Investors – Not less than 15.00% of the Offer
Retail Individual Investors – Not less than 35.00% of the Offer
The net proceeds from the IPO will be utilized for funding capital expenditure by the company towards procurement of machinery and equipment for enhancement of operations at the Dewas Facility and transportation vehicles for movement of goods between the manufacturing facilities, investment in its subsidiary Adroit Driveshafts Private Limited for capital expenditure towards machinery and equipment at the Pithampur Facility and transportation vehicles for movement of goods between the manufacturing facilities, investment in the subsidiary for repayment or pre-payment, in full or in part, of certain outstanding borrowings availed by it, and general corporate purposes. The anchor bidding is on Tuesday, September 22, 2026. The offer will open on Wednesday, September 23, 2026 and will close on Friday, September 25, 2026.
The Book Running Lead Manager to the Offer is Choice Capital Advisors Private Limited and the Registrar is Bigshare Services Private Limited.
Mr. Saurabh Sangla, Chairman and Managing Director of Adroit Industries (India) Limited “expressed, The upcoming IPO marks a new phase for the Company. Over the years we have built vertically integrated capabilities spanning forging, precision machining, heat treatment, assembly, balancing and testing, and expanded our portfolio to over 5,000 SKUs of driveline components supplied to customers in more than 32 countries.”
Mr. Ratiraj Tibrewal, Director of Choice Capital Advisors Private Limited said, “Adroit Industries (India) Limited has built an export-led driveline business over four decades, with vertically integrated manufacturing and a diversified customer base across automotive and non-automotive applications. The Company’s integrated manufacturing capabilities, long-standing customer relationships and product portfolio are part of its operating profile. We are pleased to be associated with Adroit Industries (India) Limited as it enters the public markets.”
About Adroit Industries (India) Limited
Adroit Industries (India) Limited is a vertically integrated manufacturer and supplier of propeller shafts – also known as drive shafts or cardan shafts – and related torque-transmission components. Its portfolio spans over 5,000 SKUs of driveline components, including propeller shaft assemblies, yokes, shafts, companion flanges, universal joints and accessories, supplied to automotive applications, largely commercial vehicles and SUVs, and to non-automotive applications spanning defence and emergency services, heavy equipment and off-highway machinery and industrial equipment.
The Company operates three manufacturing facilities in Madhya Pradesh – Dewas Facility i.e for die making and forging processes, Pithampur Facility for machining and assembly, operated by its subsidiary Adroit Driveshafts Private Limited, and Sanwer Road Facility for certain finishing operations– with end-to-end in-house capabilities covering forging, precision machining, heat treatment, assembly, balancing and testing. The facility is certified under IATF 16949, ISO 9001, ISO 14001 and ISO 45001.
With operations commencing in 1966, the Company has evolved into an export-led driveline components manufacturer, with 95.39% of Fiscal 2026 product sales derived from outside India across more than 32 countries, supported by a Canadian subsidiary for North American customer engagement, and serving 185 customers in Fiscal 2026 through distributors, Tier-1 driveline component suppliers and OEMs.
In FY26, The Company achieved a Revenue from operations of ₹1,399.43 million, EBITDA of ₹387.10 million & PAT of ₹261.58 million.
Disclaimer:
This article is for informational purposes only and should not be construed as an offer, invitation, solicitation or recommendation to subscribe to the securities mentioned. The proposed Initial Public Offering of Adroit Industries (India) Limited is subject to applicable statutory and regulatory approvals, market conditions and other applicable conditions. Investors should not rely on this article for making any investment decision. Readers are advised to carefully read the Red Herring Prospectus (RHP), offer documents and related materials filed with the relevant regulatory authorities, including the section on “Risk Factors”, before making any investment decision. The securities involve risks, and investors should consider all relevant risks and disclosures contained in the offer documents. Past performance, where mentioned, is not indicative of future results.