Summary of this article
Adroit Industries shares listed 86.57 per cent higher on BSE
NSE listing price was Rs 235, up 75.37 per cent
IPO proceeds will fund capacity expansion and repay subsidiary borrowings
Adroit Industries shares made a strong debut on the stock exchanges on Wednesday, September 30, listing at a premium of up to 86.57 per cent over the issue price of Rs 134 per share.
The shares listed at Rs 250 on the BSE, marking a gain of Rs 116, or 86.57 per cent, over the IPO price. On the National Stock Exchange (NSE), the stock debuted at Rs 235, up Rs 101, or 75.37 per cent.
The company's market cap rose to Rs 1,120.21 crore post listing from Rs 600.43 crore at the IPO price.
The grey market had indicated a listing price of around Rs 189, based on a GMP of Rs 55, but the stock debuted significantly higher on both exchanges.
The strong listing came after the Rs 150.71 crore initial public offering (IPO) of Adroit Industries (India) Limited received a massive response from investors. The issue was subscribed 176.85 times during the three-day bidding period from September 23 to September 25.
The IPO received bids for 1.39 billion shares against 7.87 million shares offered to public investors.
Qualified institutional buyers (QIBs) subscribed to their portion 195.04 times, while the non-institutional investor (NII) category was subscribed 332.35 times. Retail investors subscribed to 99.81 times the shares reserved for them.
The IPO comprised a fresh issue of 9.89 million shares worth Rs 132.62 crore and an offer for sale (OFS) of 1.35 million shares aggregating to Rs 18.09 crore.
The company had fixed the IPO price at the upper end of the Rs 126-134 price band. The minimum retail investment was Rs 14,874 for one lot of 111 shares.
How Adroit Industries Plans To Use IPO Proceeds
Adroit Industries plans to use Rs 19.91 crore for machinery and transportation vehicles at its Dewas facility.
Another Rs 43.96 crore will be invested in subsidiary Adroit Driveshafts for capital expenditure at its Pithampur facility.
The company will use Rs 24.12 crore to repay or prepay borrowings of the subsidiary.
In total, Rs 63.87 crore, or 72.6 per cent of the stated proceeds, is earmarked for capital expenditure, while Rs 24.12 crore will go towards debt repayment.
What Does Adroit Industries Do
Incorporated in 1995, Adroit Industries manufactures propeller shafts and torque-transmission components used in driveline systems.
The company has more than 5,000 stock keeping units (SKUs), covering precision-machined torque-transmission components, complete propeller shaft assemblies and forged components. Its manufacturing process includes forging, precision machining, heat treatment, assembly, balancing and testing.
Its products are used primarily in commercial vehicles, along with SUVs, defence and emergency services, heavy equipment, off-highway machinery and industrial applications.
Adroit Industries also has a sizeable export business and supplied products to customers in more than 32 countries in fiscal 2026.
Adroit Industries Financial Performance
The company's revenue and profit have grown over the past three financial years.
Adroit Industries reported total income of Rs 143.04 crore in FY26, compared with Rs 136.61 crore in FY25 and Rs 125.10 crore in FY24.
Its profit after tax rose to Rs 26.16 crore in FY26 from Rs 18.14 crore in FY25 and Rs 14.53 crore in FY24.
Earnings before interest, tax, depreciation and amoritsation (Ebitda) increased to Rs 38.71 crore in FY26 from Rs 31.02 crore a year earlier, and Rs 29.69 crore in FY24.
However, total borrowings also increased sharply to Rs 52.40 crore in FY26 from Rs 8.32 crore in FY25.
As of March 2026, Adroit Industries had a net worth of Rs 128.63 crore and reserves and surplus of Rs 105.59 crore.
