Monday, December 7, 2020

 Marathi Industry To Get Its Own OTT Platform 'Letsflix' by Entrepreneur- Producer Narendra Firodia & Startup Studio Founder Rahul Narvekar

 


                    After the huge success of "Letsup" which is an infotainment & news app with more than 9 lakh downloads on the Play store, well-known entrepreneur & producer Narendra Firodia & Startup Studio Founder Rahul Narvekar are ready to enter the OTT Industry with the launch of their new OTT platform "Netflix". Their app 'Letsup' recently got the "AatmaNirbhar App Award" under the 'AatmaNirbhar Bharat App Innovative Challenge' & their new upcoming launch 'Letsflix' will be a regional OTT platform that will stream Marathi movies, web series & original content. The launch of Netflix was recently announced by them.

 

Producer Narendra Firodia is the founder of many successful business ventures like 'Soham', 'Anushka Motion Pictures', 'Letsup' etc. He is also the president & sponsor of Maharashtra's biggest stage play competition "Ahmednagar Mahakarandak". Along with these ventures he has also produced Marathi films like 'Aga Bai Arechyaa 2' and 'Triple Seat'.

 

Rahul Narvekar is also associated with this venture. Rahul started his journey as a scriptwriter in the early 90's with some prominent filmmakers like Anurag Kashyap and Vijay Mourya. Later he began a new journey in the startup industry. He is also the co-founder of startups like fashionandyou.com and indianroots.com. He is the founder of 'Startup Studio' and 'India Network'.

 

OTT industry has increased a lot in the past few years & now even many Bollywood celebrities are eyeing it. There's no doubt that this brand new OTT platform "Netflix" will present us with the best Marathi content!

 

Starting a new Ott platform is definitely a challenging thing but this platform will also give new opportunities to everyone said Narendra Firodia. In addition to this he said, "When we begin something new, we face challenges. But we also have a talented team with us, so we are very positive & optimistic about the future. We are ready to face these challenges and give the best content to our audience.  In India, every state has its own film industry. Our focus will be on regional content & we will start with Marathi content. For those who want to create films, web series & short films, or those who are looking for a platform to release it then we will give our platform to them to showcase their work.

 

The main motive behind starting this Marathi Ott platform, Rahul Narvekar said, "We already have an infotainment app called "Letsup" which has more than 9 lakh users, and most importantly the majority of them are Marathi. In one year we realized that people prefer video format compared to text format. Also, there is no OTT platform for Marathi so we also wanted to fill this gap. Let's also has users outside India, so to present our Marathi songs, films to this Marathi generation who is born & brought up in foreign we could introduce Marathi content to them & create a liking for it."

 

This brand new OTT platform is ready to launch in 2021.







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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...