Adroit Industries priced its 98.97 lakh fresh shares at ₹134 in a ₹150.71‑crore IPO that saw a 176.85‑fold subscription, pushing the GMP to ₹55 and an indicative listing value near ₹189.
Bidding closed with institutional demand at 195.04 times, non‑institutional at 332.35 times and retail at 99.81 times, reflecting a sharp appetite across tiers.
Anchor investors poured ₹45.21 crore by buying 33.74 lakh shares at the issue price, with key participants including Abakkus Venture Opportunities Fund (₹10 crore) and Valour Capital Trust (₹7.5 crore).
Proceeds earmarked ₹63.8 crore for machinery at Dewas and Pithampur, ₹24.12 crore for Adroit Driveshafts debt repayment, and the balance for general corporate uses.
The company, headquartered in Madhya Pradesh, operates three plants that produce over 5,000 torque‑transmission components, positioning it to capitalize on rising demand in driveline systems.
Shares opened at ₹186.50, up 4.2% on debut, and the firm has not yet issued long‑term guidance, though analysts expect the premium to hold as the listing price stabilises.