Auto component maker Adroit Industries has raised Rs 45.21 crore from anchor investors at Rs 134 per share ahead of its Rs 150.7 crore IPO. The public subscription window is open from September 23 to September 25, 2026. Investors are now looking at how the company intends to use these funds for manufacturing upgrades and debt reduction.
Adroit Industries has successfully secured Rs 45.21 crore from six anchor investors ahead of its initial public offering (IPO), which opens for public subscription today, September 23, 2026. The company, which specializes in manufacturing propeller shafts and torque-transmission components, issued 33.74 lakh shares to these institutional investors at Rs 134 per share, the top end of its price band. The IPO window will remain open until September 25, 2026.
The total IPO size stands at Rs 150.7 crore, comprising a fresh issue of 98.97 lakh shares and an offer for sale (OFS) of 13.5 lakh shares by the promoter entity, Mukesh Sangla HUF. A notable participant in the anchor round was Abakkus Asset Manager, led by Sunil Singhania, which invested Rs 10 crore through its venture fund. Other investors included Chhattisgarh Investments, Valour Capital Trust, and Cognizant Capital Dynamic Opportunities Fund, along with Aarth AIF Growth Fund and Fortune Hands Growth Fund Scheme.
Adroit Industries intends to use the capital raised from the fresh issue to fund several operational goals. The company has earmarked Rs 63.8 crore to upgrade its manufacturing facilities in Dewas and Pithampur. This expenditure is aimed at purchasing new machinery and logistics vehicles to improve internal product movement. Furthermore, the company plans to allocate Rs 24.1 crore to reduce debt held by its subsidiary, Adroit Driveshafts. The remaining funds from the issue will be used for general corporate purposes.
For investors, the allocation of funds toward debt repayment is a notable detail, as lowering debt often improves a company's financial flexibility. The success of the planned manufacturing upgrades will depend on the company's ability to execute these expansions on time and increase the utilization of its new capacity. Choice Capital Advisors is acting as the merchant banker for this issue. Investors may watch for the final subscription numbers and the company’s ability to manage its production costs after the expansion is complete.