Adroit Industries to raise ₹151 cr through IPO

Adroit Industries, a vertically integrated manufacturer of propeller shafts and torque-transmission components, has announced plans to raise ₹151 crore through an initial public offering (IPO) on the mainboard. The company will issue 1.12 crore equity shares, with an offer for sale of 13.50 lakh shares. The price band for the shares has been set at ₹126 - ₹134 per share. The IPO is set to open for subscription on Wednesday, with a lot size fixed at 111 equity shares.

Adroit Industries, which has over four decades of operational experience, serves the automotive industry, focusing mainly on commercial vehicles as well as non-automotive applications, including defense, emergency services, heavy equipment, and off-highway machinery. The company supplies its products to over 32 countries. The funds raised from the IPO will be utilized for capital expenditure on machinery and equipment enhancement at the Dewas Facility, transportation vehicles for moving goods between manufacturing sites, investment in the subsidiary Adroit Driveshafts for capital expenditure at the Pithampur Facility, repayment of certain outstanding borrowings, and general corporate purposes.

Saurabh Sangla, Chairman and Managing Director, Adroit Industries (India), stated that the company has developed a vertically integrated capability encompassing forging, precision machining, heat treatment, assembly, balancing, and testing. Adroit Industries currently has a portfolio of over 5,000 SKUs of driveline components, which are supplied to customers worldwide.

Looking ahead, the company aims to strengthen its capacity across three manufacturing facilities, improve operational efficiency, deepen engagement with distributors, original equipment manufacturers (OEMs), and tier-I customers in India and abroad.