Adroit Industries shares make strong debut, jump 86.5%
Adroit Industries' ₹151-crore issue had a price band of ₹126-134 per share
On their trading debut, shares of Adroit Industries (India) Ltd soared 86.5 per cent, trading at ₹250 while listed at ₹134 as the issue price. The stock began at ₹235 on the National Stock Exchange, climbing 75.37 per cent. Adroit Industries' market valuation stood at ₹1,112.82 crore. The company's ₹151-crore Initial Public Offering received an impressive subscription rate of 176.85 times, with the non-institutional category subscribing 332.35 times and Qualified Institutional Buyers (QIB) 195.04 times.
Retail investors enjoyed a 99.81 times subscription rate. The IPO's price band ranged from ₹126 to ₹134 per share. Adroit Industries, established in 1966, is a vertically integrated manufacturer and supplier of propeller shafts and related torque-transmission components, possessing in-house capabilities for forging, precision machining, heat treatment, assembly, balancing, and testing.
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