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  5. Adroit Industries IPO gets fully subscribed on Day 1 led by retail investors, NIIs; check key dates, other details

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Adroit Industries IPO gets fully subscribed on Day 1 led by retail investors, NIIs; check key dates, other details

image Ahana Chatterjee
By Ahana Chatterjee

3 min read | Updated on September 23, 2026, 18:57 IST

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SUMMARY

Until 5 PM, the initial share sale of the firm had received bids for 4.08 crore shares as compared to 78,72,900 shares on offer, as per exchange data.

Adroit-Industries-IPO-day-1-Sept-23

The IPO of Adroit Industries is a book-building issue, comprising a fresh issue of ₹133 crore and an offer for sale of ₹18 crore. Image: Company website

The initial public offering (IPO) of Adroit Industries witnessed strong demand on the first day of bidding, with the issue fully subscribed and receiving total bids for 5.18 times on Wednesday, September 23.

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Until 5 PM, the initial share sale of the firm had received bids for 4.08 crore shares as compared to 78,72,900 shares on offer, as per exchange data.

The non-institutional investor (NII) category was subscribed 7.20 times, while the retail individual investor (RII) segment saw 7.24 times subscriptions. However, the Qualified Institutional Buyers (QIB) portion was booked 0.05 times.

The ₹151 crore IPO includes fresh issues and an offer for sale. It has a price band set between ₹126 and ₹134 per share. The minimum lot size for an application is 111 shares, and the investor would have to apply for a minimum of 1 lot.

The IPO is a book-building issue, comprising a fresh issue of ₹133 crore and an offer for sale of ₹18 crore.

Also read: Elevate Campuses IPO subscribed 5% so far on Day 1: Check price band, lot size and key date

Adroit Industries IPO Objective

The money raised from the IPO will be used towards the following objectives:

Capital expenditure (14.9%): The company will utilise ₹19.90 crore to fund the purchase of machinery, equipment and transportation vehicles at the Dewas facility. 
Investment in subsidiary (33%): ₹43.96 crore will be invested as equity in Adroit Driveshafts Private Limited (subsidiary) for machinery and equipment at the Pithampur facility and an inter-facility transport vehicle.
Repayment of borrowings (18.1%): The company will utilise ₹24.11 crore to repay certain outstanding borrowings. The aggregate outstanding borrowings are ₹57.46 crore as of July 31, 2026. 
General corporate purposes and issue expenses (33.8%): Part of the IPO proceeds will be used for general corporate purposes and issue expenses.

Adroit Industries IPO allotment and listing date

EventDate
Subscription datesSeptember 23 to September 25
Allotment finalisationSeptember 28
Refund initiationSeptember 29
Credit of shares to DematSeptember 29
Listing date on NSE and BSESeptember 30
Also read: Hero Motors shares list at over 2% discount on NSE; here's how much investors lost per lot

About Adroit Industries

Adroit Industries (India) is a vertically integrated manufacturer of propeller shafts (also known as drive shafts or cardan shafts) and other torque-transmission components. With over 40 years of operating experience, the company owns and operates all of its key manufacturing processes in-house, including forging, precision machining, heat treatment, assembly, balancing and testing.

The company operates three manufacturing facilities in Madhya Pradesh. As of July 31, 2026, it has a product portfolio of over 5,000 SKUs of torque-transmission components and assemblies used in driveline systems.

Adroit follows a B2B business model, and its products are sold primarily to distributors, Tier-1 driveline component suppliers and OEMs in India and overseas markets. Shares of the company will be listed on both the National Stock Exchange and the Bombay Stock Exchange.

Disclaimer: This article is written purely for informational purposes and should not be considered investment advice from Upstox. Securities mentioned are illustrative and not recommendations. Please consult a financial advisor before making any investment decisions.

About The Author

image Ahana Chatterjee
Ahana Chatterjee is a business journalist with 7 years of experience across several leading news platforms. At Upstox, she covers stock markets and corporate news.

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