Data shown is for informational purposes only and does not constitute investment advice. TopFund is not SEBI-registered. Consult a SEBI-registered advisor before investing.
Adroit Industries IPO
Price Band
₹126.0–134.0
Issue Size
₹150.71 Cr
Lot Size
111 shares
Min Investment
₹14,874
GMP
+₹58.0 (43.28%)
Issue Price
₹134.0
Subject to Sauda
₹4900
Paid only if allotted
Adroit Industries IPO AI Summary
- Adroit Industries IPO is allotted on BSE, NSE in the Industrial Products sector.
- Price band: ₹126.0–₹134.0 per share, lot size 111 shares (min. investment ₹14,874).
- Subscription window: 23 Sep–25 Sep 2026, listing on 30 Sep 2026.
- Current GMP is +₹58.0 (43.28%), an estimated listing price of ₹192 — unofficial and can change daily.
TopFund is not SEBI-registered — this is educational analysis, not personalized investment advice.
Adroit Industries IPO — Third-Party Research Views
Reviews below reflect analyst calls made before this IPO closed on 25 Sep 2026 — not a current signal.
Recommendations are sourced from third-party research firms and are not TopFund's own investment advice.
Important Dates
Subscription Status
Overall Subscription
176.85x
| Category | Subscription | Status |
|---|---|---|
| QIB (Institutional) |
195.04x
|
195x 🔥 |
| NII (HNI) |
332.35x
|
332x 🔥 |
| ↳ bNII (>₹10L) |
345.97x
|
346x 🔥 |
| ↳ sNII (<₹10L) |
305.09x
|
305x 🔥 |
| Retail (RII) |
99.81x
|
100x ✓ |
| Total | 176.85x | 176.85x |
Auto-updated every 5 min · As of 25th Sep 2026 18:56
Adroit Industries IPO Grey Market Premium (GMP) Today
GMP
+₹58.0
GMP %
+43.28%
Est. Listing
₹192.0
Updated: 28 Sep 2026 02:15
GMP Trend (Last 9 Days)
TopFund Score — Listing Data Indicator
GMP is 43.3% above issue price
QIB subscribed 195.04x
No anchor allocation for this IPO
Similar IPOs (same sector & type) averaged 33.2% listing gain
A rules-based composite of GMP, subscription demand, anchor participation and comparable-IPO history — each weighted as shown above. Not a statistically validated probability, a guarantee of listing performance, or personalized investment advice.
Limitations: weights are fixed by TopFund, not backtested against outcomes; the "Historical Similar-IPO Performance" factor needs at least 3 comparable past listings and falls back to a broader, less specific cohort when this sector/type doesn't have enough; GMP and subscription data can change daily right up to listing day, so scores shown may already be stale — check the "as of" date above.
About the Company
Adroit Industries (India) Ltd., incorporated in 1966, is a manufacturer of propeller shafts and torque-transmission components used in vehicles and industrial machinery. The company has a fully integrated manufacturing setup, handling everything from forging and machining to assembly and testing, which helps maintain quality and efficiency. The company offers over 5,000 products to distributors, large component manufacturers, and OEMs. These are mainly used in commercial vehicles, defense, heavy equipment, and industrial machinery. Its manufacturing facilities are located in Madhya Pradesh, India, and are equipped to support large-scale production. Its customer base includes well-known companies such as Godrej & Boyce Manufacturing Company Limited, BEML Limited, VE Commercial Vehicles Limited, Sandvik Mining and Rock Technology India Private Limited, Oilgear India Private Limited, and other industrial and infrastructure players. Adroit has a strong international presence, exporting to over 25 countries across North America, Europe, the Asia-Pacific region, and other regions. It also maintains long-term relationships with reputed customers, supporting steady revenue and repeat business. Competitive Strengths: A large and diversified product portfolio with over 5,000 SKUs Fully integrated manufacturing operations ensure quality control and cost efficiency Strong and long-standing relationships with a diversified customer base High entry barriers supported by technical expertise and validation capabilities Well-established export network across multiple international markets Experienced promoters and management team driving business growth
Company Financials (₹ Cr)
As of 2026-03-31
| Period Ended | 31 Mar 2026 | 31 Mar 2025 | 31 Mar 2024 |
|---|---|---|---|
| Assets | 212.74 | 187.01 | 199.39 |
| Total Income | 143.04 | 136.61 | 125.10 |
| Profit After Tax | 26.16 | 18.14 | 14.53 |
| EBITDA | 38.71 | 31.02 | 29.69 |
| NET Worth | 128.63 | 103.53 | 87.82 |
| Reserves and Surplus | 105.59 | 96.92 | 78.79 |
| Total Borrowing | 52.40 | 8.32 | 16.29 |
Key Ratios
EPS
₹7.49
NAV
₹36.84
ROE
22.54%
ROCE
19.01%
RoNW
22.51%
P/B Value
3.64
P/E Ratio
17.89
Market Cap
₹600.43 Cr
PAT Margin
18.69%
Debt/Equity
0.41
Peer Comparison
| Company | NAV | RoNW | P/E (x) | EPS Basic |
|---|---|---|---|---|
| GNA Axles Limited | 233.89 | 12.28% | 20.85 | 27.24 |
| Talbros Engineering Ltd | 359.2 | 17.32% | 10.7 | 57.34 |
| Hindustan Hardy Ltd | 250.24 | 25% | 12.98 | 55.92 |
| Adroit Industries (India) Ltd. This IPO | 36.84 | 22.51% | — | 7.48 |
Promoters
Saurabh Sangla, Mukesh Sangla, Monika Sangla, Shubhangi Trust, Shreya Trust, Swan Irrigation LLP
Objects of the Issue
The Company proposes to utilise the Net Proceeds from the Issue towards the following objects: # Issue Objects Est Amt (₹ Cr.) 1 Funding capital expenditure by the Company towards procurement of; (i) machinery and equipment for enhancement of operations at Dewas Facility; and (ii) transportation vehicle for local transportation of goods between the Manufacturing Facilities 19.91 2 Investment in the Subsidiary, Adroit Driveshafts Private Limited, in the form of debt or equity or a combination thereof, for funding capital expenditure towards procurement of; (i) machinery and equipment for enhancement of operations at Pithampur Facility; and (ii) transportation vehicle for local transportation of goods between the Manufacturing Facilities 43.96 3 Investment in the Subsidiary, Adroit Driveshafts Private Limited, in the form of debt or equity or a combination thereof, for re-payment or pre-payment, in full or in part, of certain borrowings availed by the Subsidiary 24.12 4 General Corporate Purposes Total 87.98
IPO Evaluation
Generated 27 Sep 2026Revenue Trend
Total income was ₹125.10 Cr in the period ending 31 Mar 2024, increasing to ₹136.61 Cr by 31 Mar 2025, and further rising to ₹143.04 Cr by 31 Mar 2026. This indicates a consistent growth trend in revenue over the reported periods.
Profit Trend
Profit After Tax was ₹14.53 Cr in the period ending 31 Mar 2024, which increased to ₹18.14 Cr by 31 Mar 2025, and further rose to ₹26.16 Cr by 31 Mar 2026. This shows a positive trend in profitability over the periods.
Valuation
At the issue price of ₹134.0, Adroit Industries has an implied P/E ratio of approximately 17.89, compared to peer P/E ratios ranging from 10.7 to 20.85.
Grey Market Premium, Explained
The Grey Market Premium (GMP) indicates the potential premium at which shares of an IPO might trade in the unofficial market before listing. A higher GMP suggests strong demand and potential listing gains, while a lower GMP may indicate weaker interest.
Subscription Demand
As of 25th September 2026, the IPO has received strong interest, with a total subscription of 176.85 times. The QIB category saw a subscription of 195.04 times, while the NII category was subscribed 332.35 times. Retail investors subscribed 99.81 times, indicating robust demand across all segments.
Who This IPO Suits
Investors comfortable with short-term volatility and a long-term horizon typically weigh IPOs like this against their investment goals and risk tolerance. It is essential to consider the company's fundamentals and market conditions before making a decision.
Who May Want to Wait
Investors who prefer stable returns and are risk-averse may want to avoid IPOs, as they can be subject to significant price fluctuations in the initial trading days.
IPO Timeline, Explained
The IPO opens for subscription on 23rd September 2026 and closes on 25th September 2026. Allotment of shares will be done on 28th September 2026, with shares expected to list on the stock exchange on 30th September 2026.
Listing Gains — The Risk
Listing gains refer to the potential profit an investor can make when shares of an IPO are listed on the stock exchange. However, these gains are not guaranteed and can be influenced by market conditions, investor sentiment, and the company's performance post-listing.
This evaluation is generated from Adroit Industries's own public IPO filing data for educational purposes and is not investment advice or a recommendation to apply, subscribe to, or avoid this issue — see Broker Recommendations below for named third-party research views (clearly attributed, not TopFund's own). TopFund is not a SEBI-registered investment adviser — see our Disclaimer.
Frequently Asked Questions
What is Adroit Industries IPO GMP today?
Adroit Industries IPO GMP today is +₹58.0 (43.28%), indicating an estimated listing price of ₹192. GMP is an unofficial grey-market indicator and can change daily.
What is the price band of Adroit Industries IPO?
The price band of Adroit Industries IPO is ₹126.0–₹134.0 per share.
When does Adroit Industries IPO open and close?
Adroit Industries IPO opens on 23 September 2026 and closes on 25 September 2026.
When does Adroit Industries IPO list on the stock exchange?
Adroit Industries IPO is scheduled to list on 30 September 2026, with an estimated listing price of ₹192.0 based on current GMP.
What is the lot size for Adroit Industries IPO?
The lot size for Adroit Industries IPO is 111 shares, requiring a minimum investment of ₹14,874.
What is the TopFund Listing Data Indicator for Adroit Industries?
Adroit Industries's Listing Data Indicator score is 87/100 (Very High signal), a weighted composite of GMP strength, subscription demand, anchor investor interest and how similar past IPOs performed on listing. It's a rules-based summary of public market data, not a statistically validated probability, a guarantee, or personalized investment advice.
What is the price band for the Adroit Industries IPO?
The price band for the Adroit Industries IPO is ₹126.0 to ₹134.0.
What is the minimum investment required?
The minimum investment required is ₹14,874.0.
What is the lot size for this IPO?
The lot size for the Adroit Industries IPO is 111 shares.
When does the IPO open and close?
The IPO opens on 23rd September 2026 and closes on 25th September 2026.
What does GMP mean?
GMP stands for Grey Market Premium, which indicates the premium at which shares might trade in the unofficial market before listing.
Issue Details
Investor Allocation
Registrar
Lead Managers / Book Running
IPO Timeline
Open
23 Sep 2026
Close
25 Sep 2026
Allotment
28 Sep 2026
Listing
30 Sep 2026
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