Vidhigya Associates acted as the sole legal counsel for Adroit Industries’ initial public offering (IPO) of ₹150 crore. The offering comprises a fresh issue of 9,897,000 equity shares and an offer for sale of 1,350,000 equity shares by a Promoter Group Selling Shareholder.
Adroit Industries’ Business Operations
The company is a vertically integrated manufacturer of propeller shafts and related torque-transmission components. Its operations span forging, machining, assembly, and finishing, allowing control over each step of production.
Products serve both automotive and non-automotive applications, giving the manufacturer exposure to customers across diverse sectors. It exports to more than 32 countries, creating an international customer base.
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The IPO Process
The ₹150 crore offering is split into two parts. Funds raised through this portion of the offering go to the company, subject to the stated terms of the issue. In an offer for sale, the proceeds from the shares sold generally go to the selling shareholder rather than the company.
Vidhigya Associates’ role as sole legal counsel was led by Rahul Pandey, while Himanshu Pandey and Yash Kothari formed the broader transaction team. Their work was essential for the company to meet the legal and regulatory requirements of accessing the capital markets.
As the firm moves from a privately held entity to a publicly listed company, it will face greater disclosure obligations and a more extensive regulatory framework. The vertically integrated manufacturing model and the international client network position it within a specialized segment of the engineering and component manufacturing industry.
