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Adroit IPO Oversubscribed 5x on Day 1!
23 Sep
Summary
- IPO subscribed 5.18 times on the first day of bidding.
- Proceeds will fund capital expenditure and debt repayment.
- Company exports to over 32 countries, with US as key market.
The Initial Public Offering (IPO) of Adroit Industries experienced robust demand, being subscribed 5.18 times on its opening day, September 23, 2026. Investors placed bids for 4.07 crore shares against the 78.72 lakh shares available, indicating strong market confidence. The subscription period is set to conclude on September 25, 2026.
The company intends to utilize the proceeds from the IPO for significant capital expenditure and to reduce its outstanding debt. Approximately Rs 19.90 crore will be invested in machinery and equipment for the Dewas facility, with another Rs 43.95 crore allocated for similar upgrades at the Pithampur facility. Additionally, Rs 24.19 crore will be used for debt repayment.
Adroit Industries specializes in manufacturing propeller shafts and other torque-transmission components. In the fiscal year 2026, the company reported net sales of Rs 139.94 crore, a 5% increase from the previous year, with net profit rising 44% to Rs 26.13 crore. A significant portion of its revenue, 95.39% in FY26, comes from exports to over 32 countries, with the US being the largest export market.
