Monday, November 20, 2023

Latest Hindi song SuperHero HanuMan from the upcoming film HanuMan.

No Objection (“NOC”) to broadcast our Sound Recordings on FM radio channels owned and operated by the Counter-party (defined hereinafter).

1. We, Tips Industries Limited (hereinafter referred to as “TIL”) hereby declare that we are the copyright owners of the Sound Recordings, as more particularly described in Annexure A below. Pursuant to a promotional campaign being run by TIL, the Counter-Party intends to broadcast our aforementioned Sound Recordings on their FM radio channel(s), owned, operated, and controlled solely by the Counter-party. 

1.(“Channel(s)”).

2. We state that we have no objection to the Counter-Party broadcasting the aforementioned Sound Recordings and/or part thereof along with the underlying literary and musical works (“Underlying Works”) therein, throughout the Term and Territory as specified in Annexure A, and for such broadcast, the Counter-Party shall not be required to make any payment of consideration to TIL. In furtherance to the aforesaid, TIL hereby grants to the Counter-party a non-exclusive, non-transferable, no objection to broadcast the Sound Recording along with the Underlying Works contained therein on an as-is basis on the Channels during the Term and in the Territory. TIL and the Counter-party however hereby agree that royalties shall become payable as applicable laws for the use of the Sound Recordings and the Underlying Works in the Channels.

3. The Counter-party hereby agrees and undertakes that the use of the Sound Recordings along with the Underlying Works shall be on a non-commercial basis; and the Counter-party shall, at all times, ensure that such usage is in compliance with all applicable laws of the Territory. Notwithstanding anything contrary contained herein, the Counter-party undertakes and agrees that it shall solely be responsible for procuring all requisite licenses/permissions from the copyright societies and/or collection organizations and for payment of all statutory royalties in accordance with applicable laws, without any recourse to TIL, for the use of the Sound Recordings and Underlying Works as per the terms hereof.

4. This NOC does not confer any rights, title, or ownership in the Sound Recordings, Underlying Works, and/or any part thereof in favor of the Counter-party, and all intellectual property rights in and to the Sound Recordings and Underlying Works shall continue to be owned solely and exclusively by TIL in perpetuity. The no objection granted herein is subject to the Counter-party not exploiting the Sound Recordings (or any part of the song and/or the Underlying Works and performances) on a stand-alone basis independent of the Channel or in any manner not expressly authorized herein, and to the Counter-party undertaking to not upload/make available any part of the songs and/or Sound Recordings on any other platforms, social media platforms, applications, etc. save and except for the Channel for the sole purpose as permitted herein.

5. The Counter-party herein agrees to indemnify and hold harmless TIL and its respective directors, offices, and employees (to the extent of all benefits and awards, cost of litigation, disbursements, and reasonable attorneys fees that may be incurred in connection therewith) from any third-party claim which may arise due to a breach of any term of this NOC by the Counter-party during the Term and in the Territory.

6. This NOC and the content thereof is without prejudice to TIL and their rights, remedies, contentions, and positions in various pending/Sub-judice matters viz suits, appeals, and/or other court proceedings, instituted by them or against them, in connection / with respect to the broadcast of Sound Recordings on FM radio stations or any proceedings that may be instituted in the future by TIL, or any third party.

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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...