Adroit Industries Sets IPO Price Band, Aims for Dalal Street Debut on Sep 23

In a move that’s got market watchers buzzing, Adroit Industries – the torque‑transmission specialist from Madhya Pradesh – has finally pinned down its IPO price band at Rs 126 to Rs 134 per share. The company, which is backed by Sunil Singhania’s Abakkus Asset Manager, is set to make its public debut on Dalal Street on September 23.

It isn’t just a one‑off fresh issue either. The total offer size is a blend of fresh equity worth about Rs 132.6 crore (roughly 9.9 million shares) and an offer‑for‑sale component of Rs 18.09 crore, which translates to another 1.35 million shares being sold by the promoter’s Mukesh Sangla HUF. All told, investors can snap up 1.12 crore shares, a package that could value the firm at roughly Rs 600.4 crore if the upper end of the band is hit.

How the shares are split is also noteworthy. Half of the issue is earmarked for qualified institutional buyers, 15 % for non‑institutional investors, and the remaining 35 % is open to retail hands. For the little guy, the minimum bid is 111 shares – that’s a modest Rs 14,874 – while the ceiling sits at Rs 1,93,362.

The timeline is tight. The anchor book opens on September 22 for a single day, after which the public subscription runs until September 25. Allotment is expected by September 28 and the stock should start trading on the market by September 30.

Adroit isn’t just a name on paper. The firm manufactures over 5,000 SKUs of propeller shafts, torque‑transmission components and related assemblies that find their way into both automotive and non‑automotive driveline systems. In FY 2026, it posted revenue of Rs 127.1 crore, a modest 4.9 % rise over the previous year, with an impressive 95.4 % of that coming from exports.

As for the use of proceeds, the company says it will channel Rs 53.7 crore into new machinery and equipment for its Dewas and Pithampur plants, plus a vehicle for internal logistics. Another Rs 20.2 crore will go towards clearing debt of its subsidiary, Adroit Driveshafts, while the balance will be kept for general corporate purposes.

Current shareholders include Abakkus Venture Opportunities Fund (about 3.18 % pre‑offer), Chhattisgarh Investments (0.64 %), and the promoters who hold a dominant 96.1 % stake. Choice Capital Advisors has been tapped as the sole merchant banker to steer this IPO through the capital markets.

Adroit will join a busy queue of main‑board listings next week, alongside Varmora Granito, ArMee Infotech, Swastika Infra, Elevate Campuses and A‑One Steels India. Whether the market can swallow another auto‑parts play remains to be seen, but the firm’s steady export base and clear capital‑raising plan give investors something concrete to chew on.