Thursday, June 22, 2023

Muthoot Homefin Ltd. has been recognised as one of the Most Trusted Brands in 2023 at the 2nd Edition of the Most Trusted BFSI Brands 2023, in association with Team Marksmen

 Muthoot Homefin Ltd. has been recognized as one of the Most Trusted Brands in 2023

Muthoot Homefin Ltd., a wholly owned subsidiary of Muthoot Finance Limited, has achieved a significant milestone by being selected as one of the Most Trusted brands in 2023 at the 2nd Edition of the Most Trusted BFSI Brands 2023, in association with Team Marksmen.

The 2nd edition of the Most Trusted BFSI Brands 2023 celebrates a diverse group of trailblazers who are revolutionizing the concept of success. This esteemed list shortlists brands that embody brand loyalty, advocacy, brand identity, consumer perception, consumer centricity, and a consistent three-year year-on-year growth pattern. These remarkable brands exemplify a can-do attitude, driving positive change and fostering a more inclusive socioeconomic system for all.

 

The Most Trusted Brands of India 2023 celebrated the exceptional brands that have triumphed in the past year and beyond. They also highlighted the significance the brands hold for their consumers. Furthermore, the event shed light on valuable insights gained from every brand's remarkable journey. The accomplishments of these trusted brands will serve as a guiding compass for their peers, helping them navigate through the challenges of a rapidly evolving world.

 

Speaking on the achievement, Mr. Alok Aggarwal, Chief Executive Officer, of Muthoot Homefin said, “Muthoot Homefin, is trusted widely by its customers and we are extremely delighted to have been recognized as one of the 'Most Trusted Brands in 2023'. Our team has been unwavering in the pursuit of enhancing consumer experience and introducing industry-leading innovations, to evolve into a consumer-centric business organization, empowered by technology. We are honored and grateful for being recognized for our efforts. We will continue to strive to be a pillar of support for our customers, empower them to realize their dream of owning a home, and build a legacy for financial inclusion in the country.”

 

Muthoot Homefin (MHIL) aims to empower individuals to realize their dreams of owning a home by providing them with tailored financial solutions, and the organization has been unwavering in its pursuit of enhancing customer experience. Their relentless efforts have resulted in MHIL's credit rating being upgraded to AA+ / Stable by CRISIL Limited. This upgrade enables them to raise funds at a more competitive rate, thereby enabling them to extend greater benefits to their valued customers.

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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...