Abakkus-backed auto parts maker Adroit Industries fixes price band at Rs 126-134, IPO to hit Dalal Street…

Fresh updates from the financial markets indicate that Madhya Pradesh-headquartered auto parts maker Adroit Industries, which is backed by Sunil Singhania's Abakkus Asset Manager, has decided to launch its maiden public offering on Dalal Street on September 23, with price range at Rs 126-134 per share.

This would be the sixth firm in the mainboard segment opening the week ahead along side Varmora Granito, ArMee Infotech, Swastika Infra, Elevate Campuses, and A-One Steels India.

The propeller shafts and precision-machined torque-transmission components manufacturer is raising Rs 150.7 crore via initial public offering (IPO) of 1.12 crore equity shares, which is a combination of fresh offering of 98.97 lakh shares worth Rs 132.6 crore and an offer-for-sale of 13.5 lakh shares amounting to Rs 18.09 crore by promoter entity Mukesh Sangla HUF.

Adroit approached capital markets by filing draft document in March 2026, which subsequently was approved by the SEBI in August 2026.

The firm, which seeks valuation of Rs 600.4 crore at the upper end of price range, has reserved half of its offer size for qualified institutional buyers, 15 percent for non-institutional market participants, and the remainder 35 percent shares for retail market participants.

The minimum bid in the offer can be placed for 111 equity shares, and thereafter it should be in multiples of 111 shares. Retail market participants can invest a minimum of Rs 14,874, while their maximum investment would be Rs 1,93,362.

The anchor book will be opened for a day on September 22, while the offer will close for the public subscription on September 25. The firm is anticipated to finalise IPO share allotment by September 28, and make its market debut on September 30.

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Adroit Industries offers over 5,000 SKUs of torque-transmission components and assemblies forming part of driveline systems, catering to automotive and non-automotive sectors.

The firm intends to spend Rs 53.7 crore of proceeds from the net fresh offering for procurement of machinery and equipment for enhancement of operations at Dewas and Pithampur facilities, and transportation vehicle for local transportation of goods between the manufacturing facilities.

Further, Rs 20.2 crore will be utilised for repaying debt of its subsidiary Adroit Driveshafts, and the remainder funds for general corporate purposes.

Adroit Industries that competes with listed peers like Hindustan Hardy, Talbros Engineering, and GNA Axles has recorded topline at Rs 127.1 crore for the year ended March 2026, up 4.9 percent from Rs 121.2 crore in previous year. Exports contributed 95.4 percent to its topline in FY26 and the rest topline accounted by domestic business.

Abakkus Venture Opportunities Fund held 3.18 percent stake (pre-offer basis) in Adroit, and Chattisgarh Investments 0.64 percent, while the promoters had 96.1 percent shareholding at the time of filing RHP.

Choice Capital Advisors has been appointed as the sole merchant banker for the Adroit Industries (India) IPO.