Adroit Industries IPO GMP Today, Subscription Status, Price, Lot Size & Review

Q: What is Adroit Industries IPO?

Adroit Industries IPO is a ₹150.71 Cr Mainboard book built issue made up of a fresh issue of ₹132.62 Cr and an offer for sale of ₹18.09 Cr. The shares will list on BSE and NSE.

Q: What is Adroit Industries IPO GMP today?

As of Sep 29 · 4:30 PM IST, the grey market premium is ₹50 (≈37.3%), implying an estimated listing price of about ₹184. The GMP has ranged ₹18 – 50 since Sep 18. GMP is unofficial and not a guarantee of the listing price.

Q: What is the price band of Adroit Industries IPO?

The price band is ₹126 – ₹134 per equity share of face value ₹10.

Q: What is the lot size of Adroit Industries IPO?

The minimum lot is 111 shares. Retail investors can apply for 1 to 13 lots (111 to 1,443 shares).

Q: What is the minimum investment for Adroit Industries IPO?

The minimum retail investment is ₹14,874 (111 shares at ₹134). The maximum retail application is ₹1,93,362 (13 lots).

Q: When does Adroit Industries IPO open and close?

The IPO opens on Sep 23, 2026 and closes on Sep 25, 2026.

Q: What is the allotment date of Adroit Industries IPO?

The basis of allotment is finalised on Sep 28, 2026. Refunds and demat credit are expected on Sep 29, 2026.

Q: When will Adroit Industries IPO be listed?

The tentative listing date is Sep 30, 2026 on BSE and NSE.

Q: What is Adroit Industries IPO subscription status?

At close (Sep 25 · 5:00 PM IST), the issue was subscribed 176.85× overall — QIB 195.04×, bHNI 345.97×, sHNI 305.09×, Retail 99.81×.

Q: What is the P/E ratio and valuation of Adroit Industries IPO?

At the upper band, the P/E is 17.9× pre-issue and 22.9× post-issue, with a market cap of about ₹600.43 Cr. Listed peers include Hindustan Hardy (12.9×) and Talbros Engineering (10.7×).

IPO Dates

Adroit Industries IPO Date & Timeline

Tentative schedule from the RHP.

Sep 23

Opens

Sep 25

Closes

Sep 28

Allotment

Sep 29

Refunds

Today

Sep 29

Demat credit

Today

Sep 30

Listing

Grey Market

Adroit Industries IPO GMP Today

Updated Sep 29 · 4:30 PM IST

Unofficial, aggregated from market sources. It never feeds our score.

GMP today

₹50

unchanged since last update

GMP %

37.3%

on upper band ₹134

Est. listing

₹184

₹134 + ₹50

Range

₹18 – 50

since Sep 18

GMP trend 33 updates · Sep 18 – Sep 29

Full GMP history (33 updates)

Date & time (IST)	GMP	Change	GMP %	Est. listing
Sep 29, 2026 · 4:30 PM	₹50	₹0	37.3%	₹184
Sep 29, 2026 · 8:30 AM	₹50	₹0	37.3%	₹184
Sep 28, 2026 · 9:00 PM	₹50	₹0	37.3%	₹184
Sep 28, 2026 · 4:30 PM	₹50	₹0	37.3%	₹184
Sep 28, 2026 · 11:45 AM	₹50	₹0	37.3%	₹184
Sep 27, 2026 · 11:59 PM	₹50	+₹3	37.3%	₹184
Sep 26, 2026 · 11:59 PM	₹47	+₹8	35.1%	₹181
Sep 25, 2026 · 6:00 PM	₹39	+₹8	29.1%	₹173
Sep 25, 2026 · 1:30 PM	₹31	+₹1	23.1%	₹165
Sep 25, 2026 · 11:45 AM	₹30	+₹2	22.4%	₹164
Sep 25, 2026 · 10:30 AM	₹28	−₹2	20.9%	₹162
Sep 25, 2026 · 9:30 AM	₹30	₹0	22.4%	₹164
Sep 25, 2026 · 7:00 AM	₹30	+₹1	22.4%	₹164
Sep 24, 2026 · 10:15 PM	₹29	₹0	21.6%	₹163
Sep 24, 2026 · 7:15 PM	₹29	+₹1	21.6%	₹163
Sep 24, 2026 · 4:45 PM	₹28	+₹2	20.9%	₹162
Sep 24, 2026 · 3:45 PM	₹26	₹0	19.4%	₹160
Sep 24, 2026 · 1:45 PM	₹26	+₹1	19.4%	₹160
Sep 24, 2026 · 12:00 PM	₹25	−₹2	18.7%	₹159
Sep 24, 2026 · 11:15 AM	₹27	−₹1	20.1%	₹161
Sep 24, 2026 · 6:00 AM	₹28	₹0	20.9%	₹162
Sep 23, 2026 · 9:00 PM	₹28	₹0	20.9%	₹162
Sep 23, 2026 · 7:15 PM	₹28	₹0	20.9%	₹162
Sep 23, 2026 · 1:45 PM	₹28	₹0	20.9%	₹162
Sep 23, 2026 · 12:00 PM	₹28	+₹2	20.9%	₹162
Sep 23, 2026 · 10:30 AM	₹26	₹0	19.4%	₹160
Sep 23, 2026 · 9:00 AM	₹26	+₹2	19.4%	₹160
Sep 23, 2026 · 6:15 AM	₹24	₹0	17.9%	₹158
Sep 22, 2026 · 11:59 PM	₹24	−₹6	17.9%	₹158
Sep 21, 2026 · 11:59 PM	₹30	−₹3	22.4%	₹164
Sep 20, 2026 · 11:59 PM	₹33	₹0	24.6%	₹167
Sep 19, 2026 · 11:59 PM	₹33	+₹15	24.6%	₹167
Sep 18, 2026 · 11:59 PM	₹18	—	13.4%	₹152

!GMP is unofficial and unregulated. It reflects grey-market sentiment only and is not a basis for a decision. Sep 18–22 values are IPOji's last recorded quote for each day.

Demand

Adroit Industries IPO Subscription Status

Final · Day 3 · Sep 25 · 5:00 PM IST

From NSE + BSE bid data, excluding the anchor portion.

QIB

195.04×

bHNI (>₹10L)

345.97×

sHNI (₹2–10L)

305.09×

NII total

332.35×

Retail

99.81×

Overall

176.85×

dashed line = 1× (fully subscribed)

Applications

31,54,811

as of Day 3

Final: the issue closed 176.85× subscribed on Day 3 (5 PM, Sep 25). QIBs 195.04×, NIIs 332.35× (big HNIs 345.97×, small HNIs 305.09×), retail investors 99.81×.

Day-wise subscription

Day	QIB	bHNI	sHNI	NII total	Retail	Total
Shares offered	22,49,400	11,24,700	5,62,350	16,87,050	39,36,450	78,72,900
Day 1 · Sep 23	0.05×	5.70×	10.49×	7.30×	7.31×	5.23×
Day 2 · Sep 24	1.82×	22.55×	36.54×	27.22×	23.45×	18.08×
Day 3 · Sep 25	195.04×	345.97×	305.09×	332.35×	99.81×	176.85×

Issue Details

Adroit Industries IPO Details

Checked against the RHP and cross-checked on NSE and BSE.

IPO date	Sep 23 – 25, 2026
Price band	₹126 – 134 per share
Face value	₹10 per share
Lot size	111 shares
Total issue size	1,12,47,000 shares ₹150.71 Cr
Fresh issue	98,97,000 shares ₹132.62 Cr
Offer for sale	13,50,000 shares ₹18.09 Cr

Issue type	Book Built · Mainboard
Listing at	BSE, NSE
Market cap	≈ ₹600.43 Cr
Promoter holding	96.1% → 71.86%
Lead manager	Choice Capital Advisors Pvt. Ltd.
Registrar	Bigshare Services Pvt. Ltd.

Offer documents

PDFDRHPSEBI filing PDFRHPRed herring prospectus ZIPAnchor listExchange filing

How much to invest

Adroit Industries IPO Lot Size

Minimum and maximum bids by investor type at the upper band of ₹134.

Application	Lots	Shares	Amount
Retail (min)	1	111	₹14,874
Retail (max)	13	1,443	₹1,93,362
sHNI (min)	14	1,554	₹2,08,236
sHNI (max)	67	7,437	₹9,96,558
bHNI (min)	68	7,548	₹10,11,432

Who gets what

Adroit Industries IPO Reservation

Shares set aside for each category, and the maximum number of applicants who can get an allotment.

Category	Shares offered	% of issue	Max. allottees
Anchor investors	33,74,100	30%	—
QIB (ex-anchor)	22,49,400	20%	—
NII (HNI)	16,87,050	15%	—
↳ bHNI (>₹10L)	11,24,700	10%	724
↳ sHNI (₹2–10L)	5,62,350	5%	362
Retail	39,36,450	35%	35,464
Total	1,12,47,000	100%

Retail is 99.81× subscribed. With 35,464 retail slots, allotment is by lottery: roughly 1 in 100 retail applicants may get a lot (indicative only).

Company Financials

Adroit Industries Financials (FY24 – FY26)

Restated consolidated figures from the RHP, ₹ crore. Years end March 31.

Revenue vs Profit ₹ Cr

RevenueProfit after tax (not to scale)

Financial statement

₹ Cr	FY24	FY25	FY26	YoY
Revenue	125.10	136.61	143.04	+4.7%
EBITDA	29.69	31.02	38.71	+24.8%
Profit after tax	14.53	18.14	26.16	+44.2%
Total assets	199.39	187.01	212.74	+13.8%
Net worth	87.82	103.53	128.63	+24.2%
Reserves & surplus	78.79	96.92	105.59	+8.9%
Total borrowing	16.29	8.32	52.40	+529.8%

Revenue grew a modest ~7% a year, but profit rose 44% in FY26 as EBITDA margin widened to ~27%. Borrowings jumped to ₹52.4 Cr in FY26; ₹24.12 Cr of the fresh issue repays subsidiary debt.

Valuation

Adroit Industries IPO Valuation & Peer Comparison

At the upper band of ₹134. Peers from the RHP "Basis for Offer Price".

Earnings

EPS pre-IPO

₹7.49

EPS post-IPO

₹5.84

P/E pre-IPO

17.9×

P/E post-IPO

22.9×

Returns & margins

ROE

22.54%

ROCE

19.01%

RoNW

22.51%

PAT margin

18.69%

EBITDA margin

27.66%

Price / Book

3.64×

Market cap

₹600 Cr

Debt / Equity

0.41×

Peer comparison

Company	P/E	P/B	RoNW
Adroit Industries	17.9×	3.64×	22.51%
Hindustan Hardy	12.9×	2.90×	25.00%
Talbros Engineering	10.7×	1.71×	17.30%
GNA Axles	20.8×	2.43×	12.20%

Returns are strong (RoNW ~22.5%), but at 17.9× pre-issue and 23× post-issue earnings Adroit is priced above Hindustan Hardy (12.9×, higher RoNW) and Talbros Engineering (10.7×). Only GNA Axles (20.8×) is comparable.

Company & Offer

About Adroit Industries

Business profile from the RHP.

1995Incorporated (converted from a partnership)
5,000+ SKUsPropeller shafts, torque-transmission and forged components
32+ countries~94–96% of product sales are exports
Madhya PradeshDewas plant + Pithampur plant (subsidiary)

Promoters & holding

Saurabh Sangla, Mukesh Sangla, Monika Sangla, Shubhangi Trust, Shreya Trust, Swan Irrigation

Pre-issue96.10%

Post-issue71.86%

Objects of the issue

Subsidiary capex: machinery & vehicles at Pithampur₹43.96 Cr

Repay / prepay subsidiary borrowings₹24.12 Cr

Capex: machinery & vehicle at Dewas₹19.91 Cr

General corporate purposesBalance

OFS: goes to selling shareholders, not the company₹18.09 Cr

Anchor investors

Raised

₹45.21 Cr

Investors

6

Anchor price

₹134

Domestic MFs

None

Allotted Sep 22, 2026 · 33,74,100 shares. Participants include Abakkus Venture Opportunities Fund, Chhatisgarh Investments Ltd., Valour Capital Trust – I, Cognizant Capital Dynamic Opportunities Fund, Aarth AIF Growth Fund and Fortune Hands Growth Fund Scheme I.

IPOSignal Review

Adroit Industries IPO Review: Should You Apply?

Our 100-point score, and both sides of the case.

58out of 100

Proceed with Caution · Priced Above Peers

Confidence: 70% (Medium)

Score breakdown

Financial health15/25

Valuation4/20

Business quality11/15

Industry growth6/10

Management8/10

Governance6/10

Subscription7/7

Sentiment1/3

GMP is not part of the score.

Our view: A profitable niche driveline-component exporter with ~27% EBITDA margins, 22%+ RoNW and strong retail and NII demand. But at ~23× post-issue earnings it is priced above listed peers, revenue growth is modest, and heavy export and customer concentration add risk.

Strengths

Strong profitability: FY26 profit rose 44% to ₹26.2 Cr, with a ~27.7% EBITDA margin and ~22.5% RoNW.
Wide range of 5,000+ driveline SKUs, made through an integrated forging, machining, assembly and testing process.
Long-standing customers across commercial vehicles, defence, heavy equipment and industrial machinery (e.g. BEML, VE Commercial Vehicles, Sandvik).
Most of the fresh issue (~₹88 Cr) goes to capacity capex and cutting subsidiary debt.
Promoters keep ~72% after the issue, and the OFS is small (₹18 Cr).

Risks

Priced at ~23× post-issue earnings vs listed peers at ~11–21× (Hindustan Hardy, Talbros Engineering, GNA Axles).
Around 94–96% of product sales are exports, so overseas demand, tariffs and currency swings matter a lot.
Customer concentration: the top 10 customers bring in about two-thirds (~67%) of sales.
Revenue growth is modest (~7% a year FY24–26), and borrowings jumped to ₹52.4 Cr in FY26 from ₹8.3 Cr.
All manufacturing is in Madhya Pradesh; QIB demand arrived only on the final day (1.82× after Day 2, 195.04× at close), and the anchor book had no mutual funds.

Post-Listing Check

Adroit Industries Listing Performance Updates after Sep 30

We close the loop: issue vs listing price, and whether our call was right.

Issue price

₹134

Listing price

—

Listing gain

—

Our call

Proceed with Caution

Allotment & Contacts

Adroit Industries IPO Allotment Status & Contact Details

Allotment was finalised on Sep 28. Check it with your PAN or application number.

Bigshare Services Pvt. Ltd.

Registrar

Phone: 8657578989 / 8069219065 / 8069219060
Email: ipo@bigshareonline.com

Check allotment status →

Adroit Industries (India) Ltd.

Company

Address: Gala No. 02, Building No. A-2, Print World Industrial Complex, Mankoli Road, Vehele, Bhiwandi, Thane, Maharashtra 421302
Phone: +91 91711 14099
Email: cs@adroitindustries.com
Website: adroitindustries.com

FAQs

Adroit Industries IPO FAQs

GMP, price, lot size, dates, allotment and how to apply.

What is Adroit Industries IPO?

Adroit Industries IPO is a ₹150.71 Cr Mainboard book built issue made up of a fresh issue of ₹132.62 Cr and an offer for sale of ₹18.09 Cr. The shares will list on BSE and NSE.

What is Adroit Industries IPO GMP today?

As of Sep 29 · 4:30 PM IST, the grey market premium is ₹50 (≈37.3%), implying an estimated listing price of about ₹184. The GMP has ranged ₹18 – 50 since Sep 18. GMP is unofficial and not a guarantee of the listing price.

What is the price band of Adroit Industries IPO?

The price band is ₹126 – ₹134 per equity share of face value ₹10.

What is the lot size of Adroit Industries IPO?

The minimum lot is 111 shares. Retail investors can apply for 1 to 13 lots (111 to 1,443 shares).

What is the minimum investment for Adroit Industries IPO?

The minimum retail investment is ₹14,874 (111 shares at ₹134). The maximum retail application is ₹1,93,362 (13 lots).

When does Adroit Industries IPO open and close?

The IPO opens on Sep 23, 2026 and closes on Sep 25, 2026.

What is the allotment date of Adroit Industries IPO?

The basis of allotment is finalised on Sep 28, 2026. Refunds and demat credit are expected on Sep 29, 2026.

When will Adroit Industries IPO be listed?

The tentative listing date is Sep 30, 2026 on BSE and NSE.

What is Adroit Industries IPO subscription status?

At close (Sep 25 · 5:00 PM IST), the issue was subscribed 176.85× overall — QIB 195.04×, bHNI 345.97×, sHNI 305.09×, Retail 99.81×.

What is the P/E ratio and valuation of Adroit Industries IPO?

At the upper band, the P/E is 17.9× pre-issue and 22.9× post-issue, with a market cap of about ₹600.43 Cr. Listed peers include Hindustan Hardy (12.9×) and Talbros Engineering (10.7×).

Should I apply for Adroit Industries IPO?

IPOSignal's view is Proceed with Caution · Priced Above Peers (58/100). A profitable niche driveline-component exporter with ~27% EBITDA margins, 22%+ RoNW and strong retail and NII demand. But at ~23× post-issue earnings it is priced above listed peers, revenue growth is modest, and heavy export and customer concentration add risk. This is research, not investment advice.

How to check Adroit Industries IPO allotment status?

Check on the registrar Bigshare Services Pvt. Ltd.'s site (ipo.bigshareonline.com/IPO_Status.html), or on the BSE / NSE allotment pages, using your PAN or application number.

Who is the registrar and lead manager of Adroit Industries IPO?

The registrar is Bigshare Services Pvt. Ltd.. The book-running lead manager is Choice Capital Advisors Pvt. Ltd..

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