Wednesday, November 20, 2019

Ajay Singh is CAPA’s ‘Airline Executive of the Year’
Awarded for his significant contributions to Indian aviation as a pioneer of the country's LCC sector

GURUGRAM, November 15, 2019: SpiceJet Chairman and Managing Director, Mr Ajay Singh, has been awarded the ‘Asia Pacific Airline Executive of the Year’ at CAPA’s 16th annual ‘Asia Pacific Aviation Awards for Excellence’ in Singapore. Mr Singh was presented with this prestigious award for his “significant and innovative contributions to Indian aviation” at a glittery ceremony attended by over 150 of the region’s aviation luminaries.

The ‘Airline Executive of the Year’ is awarded by CAPA to the “airline executive who has had the greatest individual influence on the aviation industry, demonstrating outstanding strategic thinking and innovative direction for the growth of their business and the industry”.

Ajay Singh, Chairman and Managing Director, SpiceJet, said, “I am truly honoured to receive this prestigious award, which is a recognition of SpiceJet’s spectacular comeback and remarkable performance. Leading SpiceJet from a near shutdown to being one of the finest airlines in India has been the best experience of my life. This award belongs to every SpiceJetter who has worked relentlessly to resurrecting a dying company and building a globally admired airline that the world today speaks of with admiration and awe.”  

CAPA Chairman, Emeritus Peter Harbison said: “Ajay Singh has been one of the most effective pioneers of India's low-cost airline segment since the establishment of SpiceJet 15 years ago. Since Mr Singh's resumption of management and majority control in 2015, SpiceJet has achieved a strong turnaround from a near financial collapse. Under Mr Singh’s leadership, SpiceJet has adapted the business model to take initiatives not always associated with LCCs, for example operating a turboprop fleet alongside its Boeing737s, launching a cargo subsidiary, joining IATA and signing an MoU with Emirates over future codeshares.”

“The CAPA Asia Pacific Awards for Excellence are intended to recognise airlines, airports, executives and the wider aviation industry for their strategic leadership and success over the last 12 months, and for helping to propel the whole industry forward.”

Regarded as the pre-eminent awards for strategic excellence in aviation, CAPA first established the awards in 2003, to recognise successful airlines and airports within the Asia Pacific region.

About SpiceJet Ltd
SpiceJet is India’s favourite airline that has made flying affordable for more Indians than ever before. SpiceJet operates 630 average daily flights to 64 destinations, including 54 domestic and 10 international ones. The airline has a fleet of 82 Boeing 737, 32 Bombardier Q-400s and four B737 freighters. SpiceJet offers business class seating - SpiceBiz – on key domestic routes. The majority of the airline’s fleet offers SpiceMax, the most spacious economy class seating in India.
The airline also operates a dedicated air cargo service under the brand name SpiceXpress offering safe, on-time, efficient and seamless cargo connectivity across India and on international routes. SpiceJet is the first Indian airline to offer end-to-end cargo services and the airline’s freighters fleet consists of Boeing 737 aircraft.
SpiceJet’s standing as the country’s favourite airline has been further reinforced by the multiple awards and recognitions which includes the US-India Strategic Partnership Forum Leadership Award to Ajay Singh,, Global ‘Low-Cost Leadership Award’ conferred to Mr Singh at the Airline Strategy Awards 2018 in London, ‘BML Munjal Awards 2018’ for ‘Business Excellence through Learning and Development’, ‘Best Domestic Airline’ Award at Wings India 2018, ‘EY Entrepreneur of the year 2017 for Business Transformation’ by Ernst & Young, The CAPA Chairman’s Order of Merit for fastest turnaround in FY 2016, 'Asia's Greatest Brands - 2016', ‘Global Asian of the Year Award’  & 'Asia's  Greatest CFO 2016' at the AsiaOne Awards held in Singapore, ‘World Travel Leaders Award’ at WTM London, ‘Best Check-in Initiative’ award by Future Travel Experience global awards in Las Vegas, ‘Best Domestic Airline’ award at the 10th ASSOCHAM International Conference & Awards (Civil Aviation & Tourism).
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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...