Vertically integrated driveline manufacturer aims to strengthen capacity, expand operations, and accelerate growth across global markets
Mumbai, September 21, 2026: Adroit Industries (India) Limited, a leading manufacturer of propeller shafts and torque-transmission components with a strong export-oriented business model, has announced the launch of its Initial Public Offering (IPO), which will open for subscription on September 23, 2026. The company plans to raise up to ₹150.71 crore at the upper end of the price band, marking a significant milestone in its journey toward becoming a publicly listed enterprise.
The IPO comprises a total offer of 1,12,47,000 equity shares with a face value of ₹10 each. This includes a fresh issue of up to 98,97,000 equity shares and an Offer for Sale (OFS) of up to 13,50,000 equity shares. The shares are proposed to be listed on both the BSE and NSE.
The company has fixed the price band at ₹126 to ₹134 per equity share, while investors can bid in lots of 111 shares. Anchor investor bidding is scheduled for September 22, 2026, with the public issue remaining open from September 23 to September 25, 2026.
IPO Structure and Allocation
Under the book-building process, the company has earmarked:
- Up to 50% of the offer for Qualified Institutional Buyers (QIBs)
- Not less than 15% for Non-Institutional Investors (NIIs)
- Not less than 35% for Retail Individual Investors (RIIs)
The IPO is being managed by Choice Capital Advisors Private Limited as the Book Running Lead Manager, while Bigshare Services Private Limited is acting as the registrar to the issue.
Funding Expansion Across Manufacturing Operations
The proceeds from the fresh issue are expected to support Adroit Industries' next phase of expansion. The company intends to deploy the funds toward capacity enhancement and operational modernization across its manufacturing facilities.
A significant portion of the capital will be utilized for the procurement of machinery and equipment at the company's Dewas facility, along with transportation vehicles to improve logistics between plants. Additionally, funds will be invested in its subsidiary, Adroit Driveshafts Private Limited, for expanding machinery and equipment at the Pithampur facility, strengthening intra-facility transportation capabilities, and repaying certain outstanding borrowings. The balance will be used for general corporate purposes.
Four Decades of Manufacturing Expertise
Adroit Industries has built a reputation over more than 40 years as a vertically integrated manufacturer of driveline solutions. Its product portfolio includes over 5,000 SKUs, ranging from propeller shaft assemblies, yokes, shafts and companion flanges to universal joints and related accessories.
The company caters primarily to the automotive sector, particularly commercial vehicles and SUVs, while also serving a growing range of non-automotive segments including defence and emergency services, industrial equipment, heavy machinery, and off-highway applications.
What distinguishes Adroit is its extensive in-house manufacturing capability. The company operates three facilities in Madhya Pradesh:
- Dewas Facility for die making and forging operations
- Pithampur Facility, operated through subsidiary Adroit Driveshafts Private Limited, for machining and assembly
- Sanwer Road Facility for finishing operations
Together, these facilities provide end-to-end manufacturing capabilities covering forging, precision machining, heat treatment, assembly, balancing, and testing.
Export-Led Growth Story
Having commenced operations in 1966, Adroit has steadily transformed itself into an export-driven enterprise. In Fiscal 2026, approximately 95.39% of its product sales were generated from international markets, reflecting its strong global footprint.
The company currently serves customers across more than 32 countries and supports its North American operations through a Canadian subsidiary. Its customer base includes distributors, OEMs and Tier-1 driveline component suppliers, with 185 customers served during Fiscal 2026.
This extensive international reach, coupled with diversified end-use applications, has helped the company establish long-standing relationships across multiple geographies and industries.
Leadership Confident of Next Growth Phase
Commenting on the IPO, Saurabh Sangla, Chairman and Managing Director of Adroit Industries (India) Limited, described the public issue as a pivotal step in the company's evolution.
He noted that the company has built integrated capabilities across the entire manufacturing value chain and developed a broad product portfolio serving customers worldwide. Going forward, management intends to focus on expanding manufacturing capacities, enhancing operational efficiency, strengthening relationships with distributors, OEMs and Tier-1 suppliers, and widening the company's presence across both automotive and non-automotive segments.
According to Sangla, the IPO will provide financial support for these strategic growth initiatives and help the company pursue its long-term expansion objectives.
Investor Interest Expected in Specialized Engineering Play
Industry observers see Adroit's IPO as an opportunity for investors to participate in a niche manufacturing business with established export credentials. The company combines vertically integrated operations, a diversified customer mix, and significant international exposure, all of which have contributed to its growth trajectory.
Ratiraj Tibrewal, Director of Choice Capital Advisors Private Limited, highlighted the company's four-decade track record, integrated manufacturing model and diversified customer base as key strengths. He stated that the listing represents an important step in Adroit's corporate journey and positions the company to capitalize on future growth opportunities.
Strong Financial Performance
For Fiscal 2026, Adroit Industries reported:
- Revenue from Operations: ₹1,399.43 million
- EBITDA: ₹387.10 million
- Profit After Tax (PAT): ₹261.58 million
The performance underscores the company's operational strength and profitability as it prepares to access public capital markets.
Looking Ahead
As global demand for commercial vehicles, industrial equipment and specialized driveline solutions continues to evolve, Adroit Industries is positioning itself to scale its manufacturing footprint and deepen its international reach. The upcoming IPO is expected to provide the resources necessary to strengthen capacity, enhance efficiency and support the company's ambitions in both domestic and global markets.
With a strong export orientation, vertically integrated manufacturing ecosystem and diversified application base, Adroit Industries enters the public market at a stage where it is seeking to convert decades of engineering expertise into its next chapter of growth