Thursday, August 16, 2018

With 40,000 farmers downloading Siddhi
in Month 1, DestaGlobal to revolutionise agriculture
       96% of farmers found agri-inputs cheaper on the app, App looks to touch 1,00,000 downloads over this quarter

Mumbai, 16 August 2018: Leading agritech and agri e-commerce startup, DestaGlobal today announced that their farmer app, aimed at improving the lives of farmers across the nation, had touched 40,000+ downloads within a month of its launch. More than 70% of the farmers are not aware of the prices of products they need to buy, and many a times they end up paying more. The app aims to bridge that gap and provide agri-input products at 10-15% cheaper than the market.

The app has a schemes page where farmers check prices and special offers on products they need at dealers near him. The knowledge section allows farmers to upload their farming related best practices and see what other farmers are sharing. Also, part of the app is a survey section that allows Desta to reach out to farmers and understand their pulse better. The brand is currently connected to 2,50,000 farmers and more than 1,200 dealers across Maharashtra.

Dealers in turn have also taken very strongly to the app, as it allows them to place orders with manufacturers basis products demanded by farmers from their region, insights on popular products and other product recommendations on the app. The aim is to help reduce sales returns, which today account for approximately 30% of sales value in certain categories such as seeds. Dealers on the DestaGlobal system have been able to liquidate 45% of the season’s stockwithin a month of the launch of Desta Siddhi.
The app also proactively suggests products to farmers and dealers basis real-time buying data which the app churns at the backend, helping understand which products are in demand in which region, as well as direct farmer reviews and feedback.

Currently launched in Maharashtra, DestaGlobal plans to take the app international this year. Speaking of the download numbers, Siddhartha Choudhary, CEO, DestaGlobal opined, “We’ve seen phenomenal pickup for the app, with around 40,000 downloads so far. We see downloads reaching 1,00,000 over the coming month. If all goes according to plan, we intend to launch across the nation. With the best discounts on offer for the farmers and the dealers, there is scope to save INR 137 crore for the Indian farmer community, in the next few years. In fact, we have an Independence Week Shopping Festival, going live from the 16thAugust, in which we are celebrating 72 years of Independence by giving upto 72% discounts for the dealers and farmers across Maharashtra.”

Recommendations the app shares with farmers are based on the trends in product purchase in the region, seasonal changes, past buying history, new products launched / launching in the  region. Farmers can see on the app how far from their location these products are available and at what price. The app is currently available in Marathi and English and maps the farming community across Maharashtra. For further information, please visit DestaGlobal or download the app from Google Play.

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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...