Friday, June 9, 2023

 Ajay Devgn's company, NY Cinemas to revive 57 years of heritage in Kanpur

The renowned Indian actor Mr. Ajay Devgn's multiplex chain NY Cinemas will reopen Heer Palace for the people of Kanpur, bringing new life to the iconic heritage of the city.

Heer Palace, one of Kanpur’s oldest movie theatre, was built in the year 1966 and is situated on Mall Road, the city's busiest street. Kanpur’s favourite Heer Palace which used to be a single screen cinema, has now been converted into a luxurious three-screen multiplex. 

It has all the amenities of a modern entertainment center while maintaining a vintage movie theatre ambiance. The architecture of NY Cinemas was inspired by the city's cultural diversity and abundance of historical landmarks, as it is evident from the building's façade and even when you are inside the cinema. The entire theatre is split into two levels, with a seating capacity of around 700 people and refreshment booths on each level. The cinema is equipped with 3D screens and top-of-the-line plush seats. This multiplex also features a screen with Dolby Atmos surround sound system, ensuring top-tier audio quality that enhances the overall movie-watching experience of its patrons. A cinema viewing experience is incomplete without popcorn and an appetizing meal thus NY Cinemas Kanpur offers variety of food options at Café NY, which serves moviegoers with mouth-watering delicacies. A live station where foodies can enjoy a meal of their choice that is freshly prepared by handpicked chefs. The cinema also features NY store which is equipped with unique collectibles and celebrity-branded merchandise available on display.

In the words of Mr. Ajay Devgn, “I want to bring people together from all sections of society where no one feels left out. This is purely for the passion and FOR THE LOVE OF CINEMA.” Keeping this as the brand ideology, NY Cinemas was founded, the initials of which were derived from Mr. Ajay Devgn's children's names, Nysa and Yug, indicating the business's core philosophy, which is rooted in pure love.

NY Cinemas is already operational in 11 cities making Kanpur its 5th city in the state of Uttar Pradesh. 

“Kanpur is one of the most significant cities in Uttar Pradesh. With Kanpur our objective is not just to make another movie theatre but to give Kanpurians an immersive entertainment space retaining the vintage feel and look of Heer Palace but in NY style. We sincerely hope that Kanpurians will welcome us with lots of love and offer their blessings.” said Mr. Rajeev Sharma, CEO of NY Cinemas.

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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...