Saturday, August 26, 2023

Hon’ble Union Minister Mr. Piyush Goyal and French Foreign Trade Minister Mr. Olivier Becht Jointly Inaugurate “NAVARATAN” Exhibition at G20 TIMM being held in Jaipur

Hon’ble Union Minister Mr Piyush Goyal and French Foreign Trade Minister Mr Olivier Becht Jointly Inaugurate the “NAVARATAN” Exhibition at G20 TIMM being held in Jaipur


Hon’ble Minister of Commerce & Industry, Shri Piyush Goyal, and Mr Olivier Becht, Minister Delegate for Foreign Trade, Economic Attractiveness and French Nationals Abroad, Government of France, who are currently attending the G20 Trade and Investment working group meetings (TIMM) in Jaipur, inaugurated the “NAVARATAN” exhibition, which is held on the sidelines of the G20 TIMM at the Chandra Mahal, Sawai Man Singh Mahal, Rambagh Palace Hotel, Jaipur.

Part of a series of exhibitions aligned with the G20 Trade and Investment Ministerial Meeting, the "Navaratan" offers an engaging spectacle for distinguished G20 delegates, showcasing the city's expertise in gems and jewellery, textiles and handicrafts. The theme revolved around the concept of “NAVARATAN” symbolising the nine precious stones in different colours and their influence on the Jewellery, Traditional Crafts, and vibrant textiles of Rajasthan thus contributing to the diverse heritage of the region. This comprehensive exhibition aims to foster collaboration, encourage investments, and promote trade between domestic and international stakeholders in these sectors.


Mr. Piyush Goyal, along with Mr. Olivier Becht interacted with artisans at the experience zone. They sought to gain insights into the intricate processes of crafting various gems and jewellery items and a wide variety of indigenous textiles from Rajasthan like Dabu, Block Print, Bandhani, Gotta Patti, Ralli Patchwork & Kota Doria. Also, traditional handicrafts such as ornate & carved boxes, adorned figurines, marble gold leaf work, hand-painted wooden handicrafts, inlay work and Jodhpur Jutties. 

 

The captivating experience zone representing gems and jewellery organised by The Gem & Jewellery Export Promotion Council (GJEPC), showcased Rajasthan as a prominent global jewellery hub. This innovative zone immersed delegates in the intricate art of jewellery making, showcasing the journey of the traditional art of Kundan Meena, diamonds and precious gemstones from the mines to market and the meticulous craftsmanship process that goes into each creation. Central to this experience are exclusive stands that proudly display the breathtaking spectrum of coloured gemstones, spanning from their raw forms to cut specimens, integrated into jewellery pieces expertly.


Mr. Vipul Shah, Chairman, of GJEPC, expressed his enthusiasm, stating, "The exhibition exemplifies the seamless fusion of tradition and modernity that characterizes Jaipur's industries.” He emphasized how this dynamic blend not only preserves heritage but also propels Jaipur's industries towards a vibrant and innovative future.


Also, there were live craft demonstrations of Thikri Craft, Block Printing, Lac Bangles, Blue Pottery and Sanjhi Art to make the event more immersive and interactive for the delegates to give a firsthand experience of the rich craft traditions and Heritage of Rajasthan.


Complementing this, the event also featured stands that spotlight Rajasthan's cultural opulence, presenting meticulously carved boxes, ornate handbooks, exquisite jewellery and adorned figurines that reflect the region's rich heritage. The immersive experience zone of Gems & Jewellery also unfolded the rich traditions, intricate craftsmanship and the meticulous process of Rajasthan’s jewellery-making art through a captivating movie.


With more than 300 delegates poised to converge from G20 countries, this pivotal meeting (TIMM) is chaired by the Hon’ble Union Commerce and Industry Minister, Mr Piyush Goyal himself. His visionary leadership sets the tone for discussions that will shape global trade and investment policies under the Indian Presidency. Jaipur serves as a perfect backdrop where delegates get a brief but immersive experience of India’s rich cultural heritage, art & traditions.


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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...