Wednesday, May 25, 2022

                                                                      Turtlemint 

 A leading Indian insurtech company today announced the launch of its first office in Dubai, UAE.

Turtlemint focusses on international expansion, opens first office in UAE Turtlemint, a leading Indian insurtech company today announced the launch of its first office in Dubai, UAE. As per Turtlemint’s growth strategy, the expansion announcement is aligned with its recent Series E funding of $120 million. The expansion is undertaken to scale its digital insurance platform offering for enterprises – Turtlefin’s operations in the Middle East. Turtlefin provides end-to-end tech solutions to enable insurance sales & services / digitize insurance sales & services via comprehensive technology support for large enterprises like Banks and other distributors. The Dubai office will serve as the central hub for Turtlemint’s business development in the Middle East region. The company aims to unlock the market opportunity in a fast developing MENA region. Turtlefin works with over 160000 financial advisors and 50+ financial institutions in India and the Middle East. In 2020 the company pioneered the common API framework. Since then the Turtlefin platform has been a significant breakthrough for the region and has gained further popularity post its partnership with Mashreq in 2021. Currently, Turtlefin is planning to work with multiple enterprises and users to help scale the insurance distribution platform. Mr Laxmikant Pawar will be leading the new center. Prior to this he held positions at Mashreq Bank and Oman Insurance in the region. He will be working with Amreesh Kher, the chief partnerships distribution officer. The company is also looking to hire multiple candidates in FY23 across departments to bolster the operations in the region. On this development, Dhirendra Mahyavanshi, Co-founder, Turtlemint stated, “Turtlemint continues with its philosophy of empowering financial advisors and distributors in India, we are going beyond borders with our bouquet of tech solutions to large institutions With this expansion we are geared to address the rising demand witnessed in the Middle East region, where banks are demonstrating an increased desire to provide superior digital services. 

We recognized a need for a technology partner in the current traditional banking landscape of the region, to facilitate a combination of legacy systems and new fintech capabilities in order to offer a seamless digital client experience. We aim to bridge this gap with Turtlefin’s comprehensive technology platform and support the BFSI community at large. Anand Prabhudesai, Co-founder Turtlemint commented, “We see a massive opportunity in the Middle East market to assist banks & financial institutions in becoming digital-first by improving their value chain. With Turtlefin we have digitized and simplified the entire insurance distribution value chain benefiting all stakeholders” He further added, “The biggest testimony to our product has been our consistent growth numbers. In a short period of time, Turtlefin has received a grand welcome by the Middle East BFSI fraternity, as over 50+ banks and financial institutions are already benefiting from our solutions, along with 45+ Insurers on board across India & UAE” About Turtlemint India-born Insurtech firm Turtlemint has grown significantly since its inception in 2015, raising close to USD 190 million from marquee investors GGV Capital,

 American Family Ventures, MassMutual Ventures , SIG , Blume Ventures, Sequoia Capital India, Nexus Venture Partners, Dream Incubator, Trifecta Capital ,Jungle VC & adding Amansa Capital, Vitruvian Partners and Marshall Wace in their latest round. Turtlemint has a wide network of 160,000 + insurance advisors (PoSPs), trained and equipped to issue an insurance policy instantly to its prospective buyer via Turtlemint’s user-friendly and innovative digital platform. It empowers PoSPs to sell insurance policies to consumers in their first language in every part of the country across metros, cities, and towns covering 15,000+ pin codes, thus ensuring the last mile connect. Most recently, the company on boarded Mahendra Singh Dhoni as the brand ambassador and launched the campaign #ActiveHoJaao to sensitize passive customers For details please visit https://www.turtlemint.com. Twitter : https://twitter.com/helloturtlemint | LinkedIn: https://www.linkedin.com/company/turtlemint

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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...