Friday, December 13, 2024

IPRS Stage: Shines a Spotlight on the Rich Diversity of Indian Music at Serendipity Festival 2024.

                                                                          IPRS Stage :

  IPRS Stage Shines a Spotlight on the Rich Diversity of Indian Music at Serendipity Festival                                                                     2024 Mumbai, December 12th, 2024: 






The Indian Performing Right Society Ltd. (IPRS) is all set to launch the IPRS Stage, at the upcoming Serendipity Arts Festival 2024 in Panaji, Goa, from December 15 to 22. This vibrant platform promises to discover and promote emerging creators, regional artists, and hidden talents from across India, while celebrating the country’s rich cultural heritage. By focusing on regional, folk, and emerging artists, IPRS Stage aims to spotlight exceptional talent from even the remotest corners of the country. It offers them a unique opportunity to connect with music lovers, industry professionals, and renowned artists from leading music markets. Through this initiative, IPRS seeks to preserve India’s cultural heritage, empower local artists with the visibility they deserve, and bridge the gap between traditional and contemporary platforms, ensuring regional and folk music resonates with a broader audience and fosters collaboration and cultural exchange.

The IPRS Stage at Serendipity Arts Festival 2024 will present an exciting lineup of performances celebrating the diversity of Indian music. On December 16, Mythical Melodies, led by Dr. Ulka Mayur, will explore the ancient orgin of Indian music through evocative narratives and traditional instruments. On December 17, Project Folks-Wagon by Madhur Padwal will take the audience on a captivating journey through India’s folk traditions, featuring unique instruments and multilingual melodies. On December 20, Jaadoo Bastar by Daira will offer a harmonious mix of modern art-rock and traditional Bastar tunes, performed in Halbi, Bhatri, and Gondi. A key highlight at the festival is the panel discussion scheduled for December 19, titled “Navigating Intellectual Property Rights in the Music Industry.” This session will bring together industry leaders to explore crucial topics like music publishing, copyright, licensing, managing rights and royalties for new-age creators. Panelists include Rakesh Nigam (CEO of IPRS), Atul Churamani (Managing Director of Turnkey Music & Publishing), Mayur Puri (lyricist, screenwriter, actor, and IPRS Board Member), and Rafael Pereira, (Executive Trustee of IMX). The discussion will provide invaluable insights for music creators, independent artists and industry professionals seeking to navigate the evolving music industry landscape. Rakesh Nigam, CEO of IPRS, shares, “The IPRS Stage at Serendipity Arts Festival 2024 is more than a platform to showcase talent; it is a groundbreaking initiative designed to identify, empower, and celebrate the rich musical heritage of our nation and its creators. By spotlighting artists from diverse regions and remote corners of the country, it ensures every unique musical creation across genres gets the recognition it deserves, fostering creativity and appreciation for India’s cultural legacy. 

The IPRS Stage is a significant step in discovering emerging talent, showcasing India’s unparalleled musical diversity, and sharing it with audiences far and wide.” Mayur Puri, songwriter, actor, and IPRS Board Member, adds, “The IPRS Stage will offer emerging and regional artists a chance to shine on a national platform, helping them connect with a wider audience and community of music creators across the country. It allows creators, particularly those from remote areas, to showcase their talent and share their stories through music. This initiative is about celebrating diversity, creativity, and the rich traditions of Indian music while shaping its future.” With the IPRS Stage set to make its mark at the Serendipity Arts Festival 2024, this initiative promises to celebrate the transformative power of music and its ability to unite and inspire. IPRS invites everyone to join this celebration of talent, diversity, and creativity, while also engaging in thought-provoking conversations on the importance of intellectual property rights in shaping the future of Indian music.
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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...