Adroit Industries (India) launches ₹151cr IPO offering 1.12cr shares
Business
Adroit Industries (India) is rolling out its ₹151 crore IPO on Wednesday. It is offering 1.12 crore shares at ₹126-₹134 each.
The company makes propeller shafts and torque parts for commercial vehicles and non-automotive applications, and ships to over 32 countries.
Adroit Industries to fund Dewas upgrades
IPO funds will be used for upgrading its Dewas facility with new machines and transport vehicles, plus investing in its subsidiary Adroit Driveshafts at Pithampur.
Some cash will also help pay off loans and cover general corporate purposes.
Chairman and Managing Director of Adroit Industries (India) Saurabh Sangla says this move is all about growing its manufacturing capacity for the future.