Adroit Industries IPO : Files DRHP with SEBI

by khalid on 22/02/2011 · 0 comments

Indore based auto components manufacturer Adroit Industries (India) Limited has informed the share market (BSE/NSE) that they are planning to enter the capital market with its maiden public issue of Rs 50 crore. The company has filed a Draft Red Herring Prospectus (DRHP) with market regulator Securities and Exchange Board of India (SEBI). The premium to be decided via 100% book building process. The IPO launching date is depend on the market conditions as per company sources. Adroit Industries (India) Limited is one of the leading manufacturers of propshafts assembly and components in India. As propshafts are mainly used in commercial vehicles, the city chosen was Indore – the commercial capital of M.P. situated near the automobile hub Pithampur.

The proceeds of the IPO amount would be used by the company to set up an additional manufacturing facility at Pithampur, Indore with the production capacity of 8,10,000 units p.a., for capex and for other corporate purposes.

Currently, company has three manufacturing units in Indore, which includes Laxmibai nagar unit, Sanwer unit and Dewas Unit with production capacity is 2,70,000 units p.a. which it intends to expand to 3,60,000 units pa. The Laxmibai nagar and Dewas units are 100% export oriented units.

The Equity Shares are proposed to be listed on the Bombay Stock Exchange Limited (BSE) and the National Stock Exchange of India Limited (NSE).

The sole book running lead manager to the issue is Chartered Capital And Investment Limited.

Registrar of the Issue : Link Intime India Private Limited.

Stay tuned to BelltheBull Blog for more news on Adroit Industries IPO !

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