Adroit Industries (India) IPO Subscription Update: Issue Subscribed 480% on Day 1
Information Subscription
On the first day till 16:12:00pm, Adroit Industries (India) received bids for 3,78,16,923 shares against 78,72,900 shares available for subscription, according to NSE data. The Retail Individual Investor (RII) category was subscribed 6.75 times, while the Non-Institutional Investor (NII) category stood at 6.64 times. The Qualified Institutional Buyer (QIB) portion, excluding the anchor allocation, was subscribed 0.01 times at the time of the update. Investors can also visit our IPO page to track subscription updates and other upcoming public issues.
| SR. NO. | CATEGORY | NO OF TIMES OF TOTAL MEANT FOR THE CATEGORY |
|---|---|---|
| 1. | Qualified Institutional Buyers(QIBs) | 0.01x |
| 2. | Non-Institutional Investors | 6.64x |
| 3. | Retail Individual Investors(RIIs) | 6.75x |
| - | Total | 4.80x |
Adroit Industries (India) Overview & Purpose
Adroit Industries (India) is offering a rupee 150.71 crore IPO, comprising a fresh issue of rupee 132.62 crore and an Offer for Sale (OFS) of up to rupee 18.09 crore. The issue is priced in the range of rupee 126 to rupee 134 per share, with a minimum lot size of 111 shares.
The company plans to utilise the fresh issue proceeds towards 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 borrowings and other 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)