Tuesday, June 26, 2018

BIGGER AND LOUDER THAN EVER – PROJECT: ALOFT STAR 2018 COMPETITION SPOTLIGHTS EMERGING MUSICIANS FROM ACROSS ASIA-PACIFIC

 Marriott International’s Aloft Hotels, in partnership with Universal Music Group & Brands (UMGB), the brand strategy division of Universal Music Group (UMG), the world leader in music-based entertainment, has launched the 2018 Asia Pacific edition of  Aloft Hotels’ artist discovery competition Project: Aloft Star Asia-PacificFrom June 26 to July 31, 2018, artists, bands and songwriters are invited to submit up to two original songs in video or audio format. This exciting contest shines a spotlight on the region’s incredible, undiscovered, and up-and-coming talents.

The competition is open to entrants from countries  in the Asia Pacific region. The countries are in  five clusters spanning eleven markets: AustraliaGreater ChinaIndiaSouth-East Asia (Indonesia, Malaysia, Singapore and Thailand) and South KoreaFrom the entries submitted, UMG will select five finalists (one from each cluster) for an all-expenses paid trip to Seoul, South Korea to battle it out in the grand finale to be held at Aloft Seoul Myeongdong on 20 September 2018. Each finalist will also receive 100,000 Rewards pointsredeemable for stays at participating Marriott International hotels around the world and other rewards.

Starting today, unsigned musicians can enter for a chance to compete and win a grand prize that includes:
·         Artist & Repertoire (A&R) mentoring from UMG, which includes advice on selecting a single to record, and expert guidance throughout the process
·         A professional recording session with UMG and opportunity to release the single
·         An accompanying music video to be produced and released by UMG

This year’s Project: Aloft Star Asia-Pacific mentors include Indian singer and composer Salim Merchant, whose scores have appeared in 100 Bollywood films; award-winning Greater China singer and actress Rachel Liang; Korean R&B performing artist SAAY; and Australian radio presenter Alex Dyson.

Music fans will have the opportunity to vote for their favorite artists or bands via a public vote from September 3 - 19, 2018. Three lucky voters who predict the winner and provide a reason why they picked them will stand a chance to win 50,000 Rewards points.1

“Aloft Hotels has always been the brand for music makers and music lovers, but now through our collaboration with UMG, we’re able to support emerging artists in a more meaningful way than ever before,” said Toni Stoeckl, Global Brand Leader, Aloft Hotels; and Vice President, Distinctive Select Brands for Marriott International. “The opportunity to record a single with one of UMG’s prestigious labels and receive dedicated mentoring from the best in the industry is very rare, and we’re so glad to be able to bring this chance to emerging talent all over the world.”

Says Olivier Robert-Murphy, Global head of New Business at Universal Music Group: “UMGB is proud to partner Aloft Hotels for Project: Aloft Star Asia Pacific 2018. We love their shared ambition to discover and nurture original singer- songwriters across such a diverse and musically vibrant region.  We’re thrilled to expand our global relationship with Marriott International in such a strategically important region for both companies.”

Aloft Hotels has been an incubator for emerging musical talent for a decade. All Aloft Hotels around the world host regular live music evenings in their W XYZ® bars with local up-and-coming talent as part of the brand’s Live At Aloft Hotels music program. Aloft Hotels are in thriving music destinations, welcoming touring musicians with special discounted artist rates, the opportunity to use the W XYZ® bar as a performance space for free, and a musicians’ guide featuring everything from where to dine late-night after a gig, the best nearby affordable recording studio, to where to purchase guitar strings, and more to hit the right note for each stay.


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Adroit Industries (India) Limited IPO Opens on Wednesday, September 23, 2026 Total Offer Size- Up to 1,12,47, 000 Equity Shares of face value of ₹10 each Fresh Issue Size - Up to 98,97,000 Equity Shares OFS size - Up to 13,50,000 Equity Shares Total Size - ₹ 150.71 Crore (At Upper Price Band) Price Band - ₹ 126 - ₹ 134 per share Lot Size – 111 Equity Shares Mumbai, September 21, 2026 - Adroit Industries (India) Limited is a vertically integrated manufacturer of propeller shafts and torque-transmission components with over four decades of operational experience, serving automotive, primarily commercial vehicles, and non-automotive applications, including defence and emergency services, heavy equipment and off-highway machinery and industrial equipment across more than 32 countries, proposes to open its Initial Public Offering on Wednesday, September 23, 2026 aiming to raise ₹ 150.71 Crores (At Upper Price Band), with shares to be listed on the BSE & NSE. The offer size is up to 1,12,47,000 Equity Shares with a face value of ₹10 each with a price band of ₹126 - ₹134 Per Share. Equity Share Allocation QIB Portion – Not more than 50.00% of the Offer Non-Institutional Investors - Not less than 15.00% of the Offer Retail Individual Investors - Not less than 35.00% of the Offer The net proceeds from the IPO will be utilized for funding capital expenditure by the company towards procurement of machinery and equipment for enhancement of operations at the Dewas Facility and transportation vehicles for movement of goods between the manufacturing facilities, investment in its subsidiary Adroit Driveshafts Private Limited for capital expenditure towards machinery and equipment at the Pithampur Facility and transportation vehicles for movement of goods between the manufacturing facilities, investment in the subsidiary for repayment or pre-payment, in full or in part, of certain outstanding borrowings availed by it, and general corporate purposes. The anchor bidding is on Tuesday, September 22, 2026. The offer will open on Wednesday, September 23, 2026 and will close on Friday, September 25, 2026. The Book Running Lead Manager to the Offer is Choice Capital Advisors Private Limited and the Registrar is Bigshare Services Private Limited. Mr. Saurabh Sangla, Chairman and Managing Director of Adroit Industries (India) Limited “expressed, The upcoming IPO marks a new phase for the Company. Over the years we have built vertically integrated capabilities spanning forging, precision machining, heat treatment, assembly, balancing and testing, and expanded our portfolio to over 5,000 SKUs of driveline components supplied to customers in more than 32 countries. Going forward, our focus will be on strengthening capacity across our manufacturing facilities, improving operational efficiency, deepening engagement with the Distributors, OEMs and Tier-1 customers across our export and domestic markets and broadening our automotive and non-automotive applications. The IPO will support our plans as we continue to strengthen the business and pursue long-term growth.” Mr. Ratiraj Tibrewal, Director of Choice Capital Advisors Private Limited said, “Adroit Industries (India) Limited has built an export-led driveline business over four decades, with vertically integrated manufacturing and a diversified customer base across automotive and non-automotive applications. The upcoming IPO marks an important step in the Company’s journey as it enters the public markets. We believe the Company’s integrated manufacturing capabilities, long-standing customer relationships and expanding product portfolio provide a foundation for its next phase of growth. We are pleased to be associated with Adroit Industries (India) Limited as it takes this step towards becoming a publicly listed company.” About Adroit Industries (India) Limited Adroit Industries (India) Limited is a vertically integrated manufacturer and supplier of propeller shafts – also known as drive shafts or cardan shafts – and related torque-transmission components. Its portfolio spans over 5,000 SKUs of driveline components, including propeller shaft assemblies, yokes, shafts, companion flanges, universal joints and accessories, supplied to automotive applications, largely commercial vehicles and SUVs, and to non-automotive applications spanning defence and emergency services, heavy equipment and off-highway machinery and industrial equipment. The Company operates three manufacturing facilities in Madhya Pradesh – Dewas Facility i.e for die making and forging processes, Pithampur Facility for machining and assembly, operated by its subsidiary Adroit Driveshafts Private Limited, and Sanwer Road Facility for certain finishing operations– with end-to-end in-house capabilities covering forging, precision machining, heat treatment, assembly, balancing and testing. The facility is certified under IATF 16949, ISO 9001, ISO 14001 and ISO 45001. With operations commencing in 1966, the Company has evolved into an export-led driveline components manufacturer, with 95.39% of Fiscal 2026 product sales derived from outside India across more than 32 countries, supported by a Canadian subsidiary for North American customer engagement, and serving 185 customers in Fiscal 2026 through distributors, Tier-1 driveline component suppliers and OEMs. In FY26, The Company achieved a Revenue from operations of ₹1,399.43 million, EBITDA of ₹387.10 million & PAT of ₹261.58 million. Disclaimer: Certain statements in this document that are not historical facts are forward looking statements. Such forward-looking statements are subject to certain risks and uncertainties like government actions, local, political or economic developments, technological risks, and many other factors that could cause actual results to differ materially from those contemplated by the relevant forward-looking statements. The Company will not be in any way responsible for any action taken based on such statements and undertakes no obligation to publicly update these forward-looking statements to reflect subsequent events or circumstances.

Adroit Industries (India) Limited IPO Opens on Wednesday, September 23, 2026 Total Offer Size- Up to 1,12,47, 000 Equity Shares of face valu...