Adroit Industries (India) Ltd - IPO

Adroit Industries (India) Ltd IPO Details

Initial public offering of up to 11,247,000 of Rs. 10 each (Equity Shares) of Adroit Industries (India) Limited (The Company or the Issuer) for cash at a price of Rs. 126-134 per equity share (including a securities premium of Rs. 116-124 per equity share) (Offer Price) aggregating up to Rs. 141.71-150.71 Crores (the Offer) comprising a fresh issue of up to 9,897,000 equity shares aggregating up to Rs. 124.7-132.62 Crores by the company (the Fresh Issue) and an offer for sale of up to 1,350,000 equity shares aggregating up to Rs.17.01-18.09 Crores by Mukesh Sangla HUF (promoter group selling shareholder) (offer for sale, and together with the fresh issue, the Offer). Price Band: Rs. 126 to Rs. 134 per equity share of face value of Rs. 10 each.The floor price is 12.6 times the face value of the equity shares and the cap price is 13.4 times the face value of the equity shares. Bids can be made for a minimum of 111 equity shares face value of Rs. 10 each and in multiples of 111 equity shares of face value of Rs. 10 each thereafter.

Objective of issue

Funding capital expenditure by the company towards procurement of. i) machinery and equipment for enhancement of operations at Dewas Facility. ii) transportation vehicle for local transportation of goods between the Manufacturing Facilities. Investment in its Subsidiary, Adroit Driveshafts Pvt Ltd, in the form of equity, for funding capital expenditure towards procurement of. i) machinery & equipment ii) transportation vehicle for local transportation of goods. Investment in th company Subsidiary, Adroit Driveshafts Private Limited, in the form of debt or equity or a combination thereof, for re-payment or pre-payment, in full or in part, of certain borrowings availed by the company Subsidiary. General corporate purposes.

Adroit Industries (India) Ltd Contact Details

Adroit Industries (India) Ltd, Office No S6-2, Pinnacle Busine.Park, Mahakali Caves Road, Mumbai - 400093

Phone - 91-22-62638200

Fax - 91-22-63638299

Email - cs@adroitindustries.com

Website - www.adroitindustries.com