Adroit Industries has received the Securities and Exchange Board of India’s (SEBI) approval to raise funds through initial public offering (IPO). The IPO comprises a fresh issue of 98.97 lakh equity shares and an OFS of 13.5 lakh shares.
The net proceeds from the fresh issue will be used by the company towards capital expenditure, including procuring machinery and equipment, transportation infrastructure, investing in its subsidiary Adroit Driveshafts and repaying debt.
Adroit Industries is an engineering and manufacturing company specialising in automotive and industrial components.
