Blockbuster debut! Mainboard Adroit Industries shares list at 87% premium; should you buy, sell or hold?

Fresh updates from the financial markets indicate that Adroit Industries shares made a firm market debut on Wednesday, stock-exchange debut at up to 86 percent premium over its initial public offering (IPO) price. The initial share sale of the firm received nearly 177 times subscription in the primary market between September 23-25.

Shares of Adroit Industries (India) were listed at Rs 250 per share on the BSE, a premium of 86.57 percent. The firm's market capitalisation post stock-exchange debut of its shares stood at Rs 1,120.21 crore.

On the NSE, the shares of the firm were listed at Rs 235 per share, a premium of 75.37 percent. The Rs 151 crore offering had a price range of Rs 126-134 per share.

Adroit Industries market debut was better than expectations in the grey market, which had anticipated a stock-exchange debut gain of around 41-43 percent.

Adroit Industries share stock-exchange debut today: Should you buy, sell or hold?

Mahesh M. Ojha, Vice President, Research & Business Development at Kantilal Chhaganlal Securities, noted that the firm's firm export presence across 32+ countries provides geographical diversification. At the same time, topline and profitability have grown steadily, with EBITDA margin improving from 23.84% in FY24 to 27.66% in FY26."

"At around 22.95x FY26 P/E at the upper price range, valuation appears reasonable, although the margin of safety is limited. The key risk stays its export-heavy business, with around 95% of product topline linked to exports, exposing the firm to US/global auto cycles, tariffs and currency movements. IPO proceeds toward capacity expansion at Dewas and Pithampur and debt repayment should backing future expansion and balance-sheet efficiency. For IPO-allotted market participants, we suggest booking partial earnings on stock-exchange debut/initial upside and holding the remaining portion for the long term, subject to quarterly execution and export-market conditions," he further noted.

The firm was established in 1966. It is a vertically integrated manufacturer and supplier of propeller shafts (additionally known as a drive shaft or cardan shaft) and related torque-transmission components, with in-house capabilities across forging, precision machining, heat treatment, assembly, balancing and testing.