Adroit Industries (India) IPO
Adroit Industries (India) IPO is a mainboard IPO raising ₹151 Cr at ₹126 – ₹134 a share. It listed on 30 Sept 2026 at ₹235, +75.4% against its issue price of ₹134, and trades at ₹162 today (+21.1% since issue). It was subscribed 177× in total.
176.8 times more demand than shares on offer
populated partly populated we hold nothing here — the tab says why
Where your money goes
Only the fresh issue reaches the company. The offer for sale is existing shareholders selling their own stock — that money goes to them, not the business.
A red herring prospectus is filed before the price is fixed, so it states share counts rather than rupee amounts. derived: shares x cut-off price Rs134. Checked: exchange issue size Rs151 Cr vs derived Rs150.7 Cr (0.2% apart).
What the fresh money funds
The stated uses of the net proceeds, from the prospectus’s Objects of the Issue table. Only the fresh issue funds these — the offer-for-sale money goes to the selling shareholders above.
As stated in the prospectus. “General corporate purposes” is the part with no committed use; SEBI caps it at 25% of the issue.
The price they’re asking
From the prospectus’s own “Basis for Issue Price” — the issuer’s earnings multiple against the peers it chose to compare itself with.
Priced 38% above the median multiple of the peers the issuer itself names.
| Listed peer (issuer’s choice) | P/E | RoNW | EPS |
|---|---|---|---|
| Hindustan Hardy Ltd | 12.98× | 25% | ₹55.92 |
| Talbros Engineering Ltd | 10.7× | 17.32% | ₹57.34 |
| GNA Axles Ltd | 20.85× | 12.28% | ₹27.24 |
| This issue | 17.9× | 22.51% | ₹7.48 |
derived: cut-off price Rs134 / stated EPS Rs7.48 (FY26 (year ended March 31, 2026), basic and diluted EPS stated as identical, restated consolidated). Peer figures are as printed in the prospectus — they date from its filing, not today. A multiple is one lens, not a verdict.
Terms of the issue
The mechanics of what is being sold. Held for every issue we track.
Not here yet
The anchor-investor allocation — which institutions were allotted shares before bidding opened — is still to be read out of its document.