Wednesday, November 28, 2018

T10 League - the world's largest 10-over cricketing extravaganza - takes off with a "BOLLY-FULL" inauguration ceremony

HH Sheikh Nahyan bin Mubarak Al Nahyan inaugurated the 2nd Season of the T10 League – the UAE’s home-grown international cricket tournament at the Sharjah Cricket Stadium

His Highness Sheikh Nahyan bin Mubarak Al Nahyan, UAE Minister of Tolerance and the Chairman of Emirates Cricket Board,  officially inaugurated the 2nd Season of the T10 League – the world’s largest formal ten-over international cricket tournament – at 4:00 pm at the Sharjah Cricket Stadium on Wednesday, November 21, 2018.

The 90-minute-long colourful inauguration ceremony was attended by government officials, members of the Emirates Cricket Board (ECB), team owners and celebrities and will see live performances by 80 performers including some top Bollywood celebrities as well as a parade by eight participating teams. The parade was supported by more than 100 students of the MS Dhoni Cricket Academy in Dubai – that is grooming the future cricketing talents.

The inauguration ceremony saw live performance by celebrities including Sohail khan, Sonu Sood,Sana Khan, Daisy Shah, Urvashi Rautela, Nora Fatehi, Yashma Gill, Anoushay Abbasi, Momina Khan, Myra Sareen, Gizele Thakral, Mahek Chahal, Amir Ali, Karthik Aryan, Umair Jaiswal and Ayesha Umair, among many others.  

The 12-day international cricket league will see 128 international cricketers play in eight franchise teams – Kerala Knights, Punjabi Legends, Bengal Tigers, Maratha Arabians, Pakhtoons, Rajputs along with two newcomers – Sindhis and Northern Warriors – split in two groups in 29 matches spread over 12 days with a final match to decide the champions scheduled on December 2, 2018 – the UAE National Day.

T10 League is the world’s first and currently the only professional ten-over format international cricket league backed by the Emirates Cricket Board and sanctioned by the International Cricket Council (ICC), governing body of international cricket.

Shaji Ul Mulk, Chairman of T10 League, said “This is the world’s largest professional T10 League and the 2nd Season is three-times bigger than the first edition. This year, two more franchise teams have joined the league due to the success of the first edition that inspired us to expand the scope of the league in terms of spreading out the league to 29 matches to be played in 12 days" 

Colonel Arvinder Singh, Chief Operating Officer of the T10 League, said, “As a professional league, we have undertaken all necessary preparations and transparent system to keep the league clean, guided by the ICC rules and monitored by the ECB"







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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...