Adroit Industries (India) IPO Subscription Update: Issue Subscribed 10.90x on Day 2
 IPO Subscription Update Issue Subscribed 10.90x on Day 2.webp)
On the second day, Adroit Industries (India) received bids for 40,90,350 shares against 22,49,400 shares available for subscription, according to NSE data.
The Retail Individual Investor (RII) category was subscribed 23.43 times, while the Non-Institutional Investor (NII) category stood at 27.21 times. The Qualified Institutional Buyer (QIB) portion, excluding the anchor allocation, was subscribed 1.82 times at the time of the update.
Investors can also visit our IPO page to track subscription updates and other upcoming public issues.
Adroit Industries IPO Subscription Details
| Sr. No. | Category | No. of Times of Total Meant for the Category |
|---|---|---|
| 1 | Qualified Institutional Buyers (QIBs) | 1.82 |
| 2 | Non-Institutional Investors | 27.21 |
| 3 | Retail Individual Investors (RIIs) | 23.43 |
| - | Total | 18.07 |
Adroit Industries (India) Overview & Purpose
Adroit Industries (India) is offering a Rs 150.71 crore IPO, comprising a fresh issue of Rs 132.62 crore and an Offer for Sale (OFS) of up to Rs 18.09 crore.
The issue is priced in the range of Rs 126 to Rs 134 per share, with a minimum lot size of 111 shares.
Use of IPO Proceeds
The company plans to utilise the fresh issue proceeds towards the following:
- Capital expenditure for machinery, equipment and transportation vehicles at its Dewas facility.
- Investment in its subsidiary, Adroit Driveshafts Private Limited, for capital expenditure at its Pithampur facility.
- Repayment or prepayment of certain borrowings of the subsidiary.
- General corporate purposes.
Disclaimer
Investments in the securities market are subject to market risks. Read all related documents carefully before investing. Registration granted by SEBI, and certification from NISM in no way guarantee the performance of the intermediary or provide any assurance of returns to investors. Choice Equity Broking Private Limited: SEBI Reg No. Broking - INZ000160131 ( BSE - 3299 ) | ( NSE - 13773 ) | ( MSEI - 73200 ) | ( MCX - 40585 ) | ( NCDEX - 01006 ). Depository Participant SEBI Reg. No. - IN - DP - 84 - 2015, DP ID CDSL - 12066900, NSDL ID - IN301895. Research Analyst - INH000000222 (CIN. NO.: U65999MH2010PTC198714)
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