Saturday, January 23, 2021

GrayQuest partners with SBM Bank India Limited to boost access to quality education in India

GrayQuest partners with SBM Bank India Limited to boost access to

Collaboration to result in access to education for students

Mumbai, January 21, 2021: GrayQuest, India’s leading education fintech company, has collaborated with SBM Bank India, to facilitate access to affordable funds for its clients.

 Established in 2017, GrayQuest is working towards increasing the convenience of educational fee payments in the country. Towards this, the Company has partnered with more than 2000 leading schools, colleges and universities across the country and allow parents to pay their children’s education fees in easy monthly payments. Parents can sign up for the monthly payment option within five minutes on the GrayQuest platform through a secured, convenient and paperless process, converting their annual or bulk semester school/college fees into affordable monthly payments at no extra cost. GrayQuest parents also receive benefits such as complimentary insurance cover and access to 50+ exclusive rewards for their children.

Commenting on the partnership, Rishab Mehta, Founder and CEO, GrayQuest, said, “According to our data, the average Indian household spends 13% of their annual income on the education fees per child. With rising fees and the growing aspirations of parents in their choice of education for their children, paying education fees is now a significant expenditure for most households. Covid-19 has further increased the financial burden on parents. We, at GrayQuest, feel that the current structure of bulk education fee payments can be made significantly more convenient and affordable for parents. Our partnership with SBM Bank is a major step in that regard which will significantly lower the cost and boost our ability to facilitate such financing for the end consumer.”

SBM Bank India will not only facilitate access to affordable funds to GrayQuest’s clients but also will empower them to address their holistic banking requirements.

Speaking on the partnership and Bank’s foray into education lending space, Neeraj Sinha, Head -Retail and Consumer BankingSBM Bank India Limitedsaid, “Education, the world over has been considered to be the passport to a better life. In a country, where the core belief stems from Padhoge Likhoge Banoge Nawaab, education is the most important investment and not a mere expense for each and every parent. We, at SBM Bank India, therefore are excited to partner GrayQuest to invest into this segment.”

About GrayQuest

GrayQuest is a Mumbai based education fintech company focused on creating customized credit products for India’s $100B education ecosystem. The company, which was founded by Rishab Mehta in 2017, offers parents the option to convert their annual education fee into convenient, bite-sized monthly installments, without any extra cost. GrayQuest runs India’s first learner and parent-focused privilege rewards program with benefits across academic, extra-curricular, and entertainment categories. GrayQuest has a strong presence across all the major cities in India and is currently working with 2000+ educational institutions. For further information visit https://www.grayquest.com/

 

About SBM Bank  India

SBM Bank (India) Limited “SBM Bank India” is the first bank to receive a universal banking license from the Reserve Bank of India to set up and operate as a Scheduled Commercial Bank under Wholly Owned Subsidiary (WOS) mode offering banking services in India. SBM Bank India has a network of 7 branches located in Mumbai, Delhi, Chennai, Bangalore, Hyderabad, Ramachandrapuram, and Palghar. SBM Bank India has the profound domain expertise and is led by a core team comprising of industry veterans having over a century of cumulative experience in banking and financial services. The Bank offers a diverse suite of universal products and services to its customers which include Deposits, Advances, NRI Services, Treasury Products, and Trade Finance Services. SBM Bank India stands poised to embark on a new journey, innovating in every sphere of its business, expanding its service proposition to include an extensive suite of retail and wholesale banking products and capital markets.

 

For further information, visit  www.sbmbank.co.in

 

 

 

 

 

Attachments area

quality education in India

 Collaboration to result in access to education for students

Mumbai, January 21, 2021: GrayQuest, India’s leading education fintech company, has collaborated

with SBM Bank India, to facilitate access of affordable funds for its clients.

 Established in 2017, GrayQuest is working towards increasing convenience of educational fee

payments in the country. Towards this, the Company has partnered with more than 2000 leading

schools, colleges and universities across the country and allows parents to pay their children’s

education fees in easy monthly payments. Parents can sign up for the monthly payment option

within five minutes on the GrayQuest platform through a secured, convenient and paperless

process, converting their annual or bulk semester school / college fees into affordable monthly

payments at no extra cost. GrayQuest parents also receive benefits such as complimentary insurance

cover and access to 50+ exclusive rewards for their children.

Commenting on the partnership, Rishab Mehta, Founder, and CEO, GrayQuest, said, “According to

our data, the average Indian household spends 13% of their annual income on the education fees

per child. With rising fees and the growing aspirations of parents in their choice of education for

their children, paying education fees is now a significant expenditure for most households. Covid-19

has further increased the financial burden on parents. We, at GrayQuest, feel that the current

structure of bulk education fee payments can be made significantly more convenient and affordable

for parents. Our partnership with SBM Bank is a major step in that regard which will significantly

lower the cost and boost our ability to facilitate such financing for the end consumer.”

SBM Bank India will not only facilitate access to affordable funds to GrayQuest’s clients, but also will

empower them to address their holistic banking requirements.

Speaking on the partnership and Bank’s foray into education lending space, Neeraj Sinha, Head -

Retail and Consumer Banking, SBM Bank India Limited, said, “Education, the world over has been

considered to be the passport to a better life. In a country, where the core belief stems

from Padhoge Likhoge Banoge Nawaab, education is the most important investment and not mere

expense for each and every parent. We, at SBM Bank India, therefore are excited to partner

GrayQuest to invest into this segment.”

About GrayQuest

GrayQuest is a Mumbai based education fintech company focused on creating customized credit

products for India’s $100B education ecosystem. The company, which was founded by Rishab Mehta

in 2017, offers parents the option to convert their annual education fee into convenient, bite sized

monthly instalments, without any extra cost. GrayQuest runs India’s first learner and parent focused

privilege rewards program with benefits across academic, extra-curricular and entertainment

categories. GrayQuest has a strong presence across all the major cities in India and is currently

working with 2000+ educational institutions. For further information

visit https://www.grayquest.com/



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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...