Friday, October 13, 2023

ITME Africa 2023 ushering a new era of self-reliance, socio-economic advancement

 ITME Africa 2023 ushering a new era of self-reliance, socio-economic advancement

Through Textile Technology & Engineering in Africa

 India ITME Society, organizer ITME Africa & Middle East 2023 hosted a Preview & Curtain Raiser program recently in Mumbai. This networking presentation was to showcase a glimpse of the upcoming international exhibition ITME Africa & M.E 2023 from 30th Nov to 2nd Dec 2023 at Nairobi, Kenya.  This is the 2nd event of the series hosted for global audience; The 1st event was hosted in Nairobi, Kenya on 3rd October in the presence of Senior Kenyan Govt. Officials & Embassy participation.

Left to Right : Ms. Seema Srivastava, Executive Director, India ITME Society; Mr. Ketan Sanghvi, Chairman, India ITME Society; Mr. Pramod Khosla, Chairman & Managing Director, Khosla Profil Pvt. Ltd.; Mr. Updeep Singh, Textile Industry Expert; Mr. Balvinder Singh Sawhney, Asst. Secretary General, FICCI; Mr. S Senthil Kumar, Hon’ Treasurer, India ITME Society

The highlights & topics at this Mumbai edition’s Curtain Raiser & Preview covered by eminent Dignitaries & Speakers, included Strength of Indian Textile & How Africa can collaborate with India to lead the Textile Industry by Industry expert & experienced Textile professional Mr. Updeep Singh. Africa a land of Opportunities for India & how Exhibition can be a gateway for bilateral trade for the Textile Industry promotion by Mr. Balvinder Singh Sawhney, Asst. Secretary General, FICCI, Views on Technical Textiles & the future by Mr. Pramod Khosla, Chairman & Managing Director, Khosla Profil Pvt. Ltd. Increase in business Engagement between India and Africa since 2020 in Textile Segment by Mr. Avinash Mayekar, Managing Director, Suvin.

ITME Africa & Middle East 2023 promises to offer an unique and valuable experience for all participants. Whether it is to gain insights, network with industry leaders, Business interactions or Joint Ventures, this event will provide  ample networking opportunities, and direct connect with professionals and peers.
Apart from the 3-day Exhibition, ITME Africa & Middle shall also host multiple concurrent programs such as panel discussions and interactive sessions on Technical & Financial topics that will enhance knowledge and skills. These interactive & focused sessions by renowned Speakers & Industry stalwarts shall bring best opportunity to listen, interact & learn from experts doing groundbreaking work in the textile & textile engineering industry:

⦁ Investment & Technology Joint Venture : 
⦁ Kenya as a business destination Gateway to Middle East, EU & US Markets.
⦁ Africa- The Next Big Destination for Textile Manufacturing.
⦁ Financial Solutions for Investments & Technology upgradation : 
⦁ Funding for; Investment & Sourcing capital goods from India
⦁ Start-ups, Entrepreneurs in Textile Segment
⦁ Domestic Financial Schemes for Kenyan Textile Industry
⦁ Kenya – A Success story Textile Business & Investment.
⦁ Technical & Technological Seminar
⦁ Good Practices of cultivating quality cotton fibre | Importance of Physical properties of cotton in textile industry by Cotton Expert.
⦁ Technological advancement for cotton ginning & high production by Ginning Expert.
⦁ Ideas & Best Practices for spinning profits in Textile Industry by Spinning Specialist.
⦁ Panel Discussion
⦁ Textile Technology empowering complete textile value chain of African continent & M.E. 
(Participating Countries – India, Italy, China, Switzerland)
Many Government organization & Associations from Kenya have joined hands with India ITME Society to host this Textile Technology & Engineering event to bring prosperity to the whole of African Continent & explore potential of Kenya as a new business destination along with other 23 exhibiting countries - Austria, Benin, China, Egypt, Ethiopia, Germany, Ghana, Italy, Jordan, Kenya, Nigeria, Rwanda, South Africa, Spain, Sri Lanka, Taiwan, Togo, Turkey, Tunisia, Uganda, Unites States of America & Zambia apart from India

Addressing the media, Mr. Ketan Sanghvi, Chairman, India ITME Society said “ITME Africa & Middle East 2023 is an important milestone in enhancing bilateral trade relations and promoting industrial cooperation between Kenya and India. This partnership aims to leverage the business potential of both the countries and build on the innovation, economic growth and sustainability goals of their respective textile technology and engineering industries. With as many as 23 countries taking part in the India ITME Society exhibition in Kenya, Africa is sure to derive the immense benefits of investing in future partnerships and building successful business ventures in the entire African region.”

In the press conference Mr. Updeep Singh, Textile Industry Expert “India possesses a robust textile engineering foundation and boasts the world's second-largest textile industry, featuring manufacturing facilities. With this being the focus, the efforts of the ITME society by hosting their quadrennial event ITME Africa & Middle East 2023 in Nairobi Kenya will attract more attention towards the Kenyan textile industry and also showcase the business potential of the country, globally. This will increase visibility and business inquiries and widen opportunities for India’s exports in Textiles and Machinery businesses leveraging an untapped customer base of the African continent.” He also added “Now, with the addition of the African Union in the G20 Summit conducted in New Delhi, the trade volumes with India is expected to rise in the Continent and Textile machinery companies should capitalize on this.”

Mr. Pramod Khosla, Chairman & Managing Director, Khosla Profil Pvt. Ltd. brought attention to the fact that there is tremendous scope in infrastructure development in most of African Countries which can be a great opportunity for Geo textile and also for many other Technical Textiles segment such as Indutech, Packtech, Buildtech Protech etc. “India ITME society has taken the right steps to promote trade relations between India and Africa that will help the textile industry and allied ventures by generating demand and boosting production in the African Continent.
Mr Balvinder Singh Sawhney, Asst. Secretary General, FICCI emphasised that exhibition provides less riskier & cost competitive platform to explore new ventures & new shows especially for Small Medium Businesses. His three ‘‘E’s” mantra to industry is “Explore & Expand with Exhibition”.

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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...