Adroit Industries (India) Ltd made a strong stock market debut on Wednesday, September 30, with its shares listing at Rs 250 on the BSE, an 86.56 per cent premium over the IPO issue price of Rs 134. The company also opened higher on the National Stock Exchange, where shares began trading at Rs 235, delivering a listing premium of 75.37 per cent. The BSE debut gave investors allotted shares at the issue price a gain of Rs 116 per share at listing. On the NSE, the opening price represented a gain of Rs 101 per share. The company’s market valuation stood at Rs 1,112.82 crore. The exchange-specific opening prices showed premiums on both trading platforms, following strong demand during the public offer. Adroit Industries’ Rs 151 crore initial public offering attracted bids equivalent to 176.85 times the shares available, according to NSE data released on Friday. Non-institutional investors led the subscription figures, bidding for 332.35 times their allotted quota. The qualified institutional buyers category recorded subscription of 195.04 times, while the retail investor portion was subscribed 99.81 times. These figures reflected strong participation across all three investor categories ahead of the company’s stock exchange debut.
IPO Price Band And Structure
The public issue carried a price band of Rs 126–134 per share, with the final issue price fixed at the upper end. The offering comprised a fresh issue of up to 98,97,000 equity shares and an offer for sale of up to 13,50,000 shares. The Rs 134 issue price serves as the reference for calculating the company’s listing premiums on the BSE and NSE.
Propeller Shaft Manufacturing Business
Established in 1966, Adroit Industries manufactures and supplies propeller shafts, also called drive shafts or cardan shafts, alongside related torque-transmission components. The company operates a vertically integrated manufacturing model, with in-house forging, precision machining, heat treatment, assembly, balancing and testing capabilities.
