REC signs agreement with CVPPPL for ₹1869 Cr term loan for Kiru 624MW Hydro Project

Gurugram/Jammu, 24 April 2024: REC Limited, a Maharatna CPSE under Ministry of Power and a leading NBFC, has signed an agreement with Chenab Valley Power Project Private Limited (CVPPPL) for financial assistance of ₹1869.265 Crore as Term Loan. 

The loan will be utilized for Development, Construction and Operation of Greenfield Kiru Hydro Electric Project (4 x156 MW) on River Chenab located in Kishtwar District of Jammu & Kashmir. 

The Agreement was signed in the presence of Shri Ramesh Mukhiya, Managing Director; Shri Vasant Hurmade, General Manager (C&P); Shri Sanjay Kumar Gupta, General Manager (Finance) from CVPPPL and Shri Pramod Kumar Soni, Dy. General Manager; Shri Rishabh Jain, Dy. General Manager from REC Limited, among other key officials from both organizations.

Kiru Hydro Electric Project (624 MW), a run-of-river scheme is proposed on river Chenab in district Kishtwar of Union Territory of J&K and is about 42 kms from Kishtwar. The Project envisages construction of 135 m high Dam and an underground Power House with 4 units of 156 MW each.

ABOUT CVPPL: CVPPPL is a Joint Venture Company between NHPC (51%) and JKSPDC (49%) formed at the initiative of Government of J&K and Government of India to harness the vast hydro potential of river Chenab. The Company has been incorporated in 2011. CVPPPL has been entrusted with construction of Kiru HE Project (624 MW), Pakal Dul HE Project (1000 MW), Kwar HE Project (540 MW), & Kirthai-II HE Project (930 MW) on Build, Own, Operate and Maintain (BOOM) basis with aggregate installed capacity of 3094 MW.

ABOUT REC LIMITED: REC is a 'Maharatna' CPSE under the Ministry of Power, and is registered with RBI as Non-Banking Finance Company (NBFC), and Infrastructure Financing Company (IFC). REC is financing the entire Power-Infrastructure sector comprising Generation, Transmission, Distribution, Renewable Energy and new technologies like Electric Vehicles, Battery Storage, Pumped Storage projects, Green Hydrogen, Green Ammonia projects etc. Recently, REC has also diversified into the Non-Power Infrastructure sector comprising Roads & Expressways, Metro Rail, Airports, IT Communication, Social and Commercial Infrastructure (Educational Institution, Hospitals), Ports and Electro-Mechanical (E&M) works in respect of various other sectors like Steel, Refinery, etc. REC Ltd. provides loans of various maturities to State, Central and Private Companies for creation of infrastructure assets in the country. 

REC Ltd. continues to play a key strategic role in the flagship schemes of the Government for the power sector and has been a nodal agency for Pradhan Mantri Sahaj Bijli Har Ghar Yojana (SAUBHAGAYA), Deen Dayal Upadhaya Gram Jyoti Yojana (DDUGJY), National Electricity Fund (NEF) Scheme which resulted in strengthening of last mile distribution system, 100% village electrification and household electrification in the country. REC has also been made the nodal agency for certain States and Union Territories for the Revamped Distribution Sector Scheme (RDSS). REC has also been given the responsibility of PM Surya Ghar Muft Bijli Yojna from Central Government. The loan book of REC stands at Rs 4.97 Lakh Crore and Net Worth at Rs. 64,787 crores as on 31st Dec, 2023.

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For further details, contact:

Business Development and Marketing (BDM) Division

(Corporate Communications cell)

REC Limited

recccprco@gmail.com

Website: https://www.recindia.nic.in/ 

Facebook: https://www.facebook.com/reclindia 

Twitter: https://twitter.com/reclindia 

Instagram: https://www.instagram.com/reclindia/ 

LinkedIn: https://www.linkedin.com/company/reclindia/    

Radhika Madan OPENS UP on Impact of OTT on the entertainment landscape

Actress Radhika Madan, who has proven her acting mettle across all three mediums - OTT, TV, and the big screen, recently opened up about the changing entertainment landscape with OTT's increasing popularity during a recent event by Dish TV where she launched the revolutionary Dish TV Smart+ Services. 

When asked about the impact of OTT on the entertainment landscape, Radhika shared, 'I would say it doesn't matter what the platform is. It doesn't matter if it is television or OTT or theaters; art impacts different people on different levels. It is very individualistic, and as an actor, I just want to portray different lives and entertain audiences on whatever platform feels convenient for them.'

Discussing her association and thoughts on the Dish TV Smart+ Services, Radhika said, 'The first thought that came to my mind was convenience. I've been a victim of forgetting to pay my subscriptions to different platforms and just keeping track of which series is available where. So, what Dish TV has done is it has created a one-stop destination for all entertainment. And that has made my life really easy. So yes, when I heard about this, I was just grateful to them and I was like, thank you for making my life easier.'

On the work front, the actress was last seen in 'Saas, Bahu Aur Flamingo' and 'Sajini Shinde Ka Viral Video.' Her upcoming projects include 'Sanaa' and 'Sarfira,' details of which are yet to be disclosed."

JNK India IPO subscribed 49% on Day 1

 The Initial Public Offering of JNK India Limited was subscribed 49% on the first day of bidding.

The issue received bids of 53,90,568 shares against the offered 1,10,83,278 equity shares, at a price band of ₹395-415, according to the data available on the stock exchanges. 

Qualified Institutional Buyer Portion subscribed 67%, Retail Portion was subscribed 48%, whereas Non-Institutional Investors Portion was subscribed 25%. The issue kicked off for subscription on Tuesday, April 23, 2024 and will close on Thursday, April 25, 2024. 

A day prior to the opening of the issue, JNK India Ltd had raised Rs 194.84 crores from anchor investors. Foreign and Domestic Institutions who participated in the anchor were Goldman Sachs, Kotak MF, HDFC MF, Nippon MF, Mirae Asset fund, DSP, LIC MF, Bajaj Allianz Life Insurance and Aditya Birla SunLife Insurance. 

Leading brokerages like Anand Rathi, Nirmal Bang, Reliance Securities, Arihant Capital, Choice Broking, InCred Equities, Swastika Invesmart, Ventura Securities, BP Wealth, and Stoxbox have given a “SUBSCRIBE” rating to the issue, highlighting the company's established track record, diverse customer base, and strong position in the heating equipment market. JNK India's demonstrated capabilities, robust financial performance, and order book visibility, projecting it as well-positioned to benefit from industry tailwinds and global expansion.

JNK India's focus on diverse offerings, strategic collaborations, and its ability to meet growing demand in the domestic and global markets. The company's valuation metrics, such as P/E multiples and EV/EBITDA, are considered reasonable or at a discount compared to peers, further enhancing its investment appeal. Brokerages recommend a "Subscribe with a Long Term" rating, underlining JNK India's niche product profile, strong growth prospects, and favorable industry dynamics in the heating equipment sector.

IIFL Securities Limited and ICICI Securities Limited are the book running lead managers and Link Intime India Private Limited is the registrar to the issue. 

Company Information

The Company have capabilities in thermal designing, engineering, manufacturing, supplying, installing, and commissioning heating equipment and caters to both domestic and overseas markets. (Source: F&S Report). Over the years the Company has diversified into flares and incinerator systems and have been developing capabilities in the renewable sector with green hydrogen. The Heating Equipment are required in process industries such as oil and gas refineries, petrochemicals, fertilizers, hydrogen and methanol plants etc.

As of December 31, 2023, it has served 21 customers within India 8 customers overseas. In India, it has completed projects in, amongst others, Andhra Pradesh, Assam, Bihar, Karnataka, Kerala, Maharashtra, Tamil Nadu, West Bengal and globally have completed projects in Nigeria and Mexico. Further, it has ongoing projects in Gujarat, Odisha, Haryana, Rajasthan in India and globally in Oman, Algeria, and Lithuania. Further, it has successfully completed projects in far-reaching locations which included projects in India at Numaligarh, Assam; Kochi, Kerala; Barauni, Bihar; and overseas at Lagos, Nigeria. 

The table below shows subscription data for all the categories of investors:

  

It would be a dream to work with Shah Rukh sir, says Radhika Madan

Every actor, whether aspiring or established in the entertainment industry, harbours a dream of sharing the screen with the legendary Shah Rukh Khan. Recently, actress Radhika Madan candidly revealed her admiration and dream of working alongside the iconic actor. 

The actress was questioned about working with Shah Rukh Khan at the Dish TV Smart+ services launch. Shah Rukh Khan was the face of the brand in the yesteryears.  On which she expressed, "Oh my God, it would be a dream come true to work alongside Shah Rukh Sir. It will be such a joy just to be in the same frame as him. I am an ardent fan and I can't wait for that day to happen." 

The actress also opened up about the roles that attract her, "I think roles which scare the hell out of me. It should make me feel that I can't do it. It needs to give me sleepless nights and I just want to offer a different character to the audience every time I come on screen with different stories, not the same character wearing different clothes. I wouldn't want to do that .Because I don't enjoy watching that as an audience and I hope I am able to offer that versatility to people just like Dish TV Smart+ Services." 

Just like Shah Rukh Khan, Radhika also began her journey in the entertainment industry with a Television show. The actress was last seen in Saas, Bahu Aur Flamingo and Sajini Shinde Ka Viral Video.

Anushka Sen and Kush Jotwani talk about their romantic chemistry in Prime Video’s upcoming series, Dil Dosti Dilemma

Prime Video’s upcoming young-adult series, Dil Dosti Dilemma’s trailer has created a fervour and excitement amongst audience, which is increasingly palpable as they await the premiere of the series on April 25. The overwhelming response was meted with another treat in the form of a soothing romantic song, Dil Sheher, which has everyone swooning over not just the soundtrack but also the sparkling chemistry between the newest on screen jodi of Anushka Sen and Kush Jotwani aka Asmara and Farzan.

“Spending time with Anushka, both on and off set, felt natural, and soon, our chemistry started reflecting in our characters too. We hit it off instantly. Each scene with Anushka felt so real, like I was just being myself,” expressed Kush Jotwani. 

Talking about contrast in the characters which makes this pairing so perfect, Ansuhka added, “My favorite aspect, undoubtedly, is the bond between Asmara and Farzan, two vastly different individuals. We unraveled the complexities of Asmara's character and her psyche through workshops and deep dives into the script, which was very different from Farzan. She is excited about almost everything in her life, while Farzan takes everything calmly.”

Garnering immense love from fans, the lead pair are sure to strike a chord with audiences across ages. Directed by Debbie Rao, the series brings to life a delectable tale that tugs at the heartstrings while capturing the essence of summer escapades. Dil Dosti Dilemma will premiere exclusively on Prime Video in India and across more than 240 countries and territories worldwide, on April 25.

Main Ladega's song Tujhse Pyaar Hai will make you reminisce about the innocence of first love

Akash Pratap Singh's Main Ladega is ready to release on the big screens soon. And while the film's trailer pointed at an impressive story being told, now, a song from the film is also here to stir the soul. Called Tujhse Pyaar Hai, the song encapsulates the feeling of falling in love for the first time. 

What is also great about this romantic number is that it not only reminds you of the innocence of first love but also brings back the nostalgia of the early 2000s with its music. Sung by Tushar Joshi, Tujhse Pyaar Hai features Akash Pratap Singh and Vallari Viraj. The lyrics of the song have been written by Anwesha Datta Gupta, while the music director for this one is Akshay Menon.

Produced by Akshay Bhagwanji & Pinakin Bhakta. The lead actor Akash Pratap Singh has also written the story. Main Ladega is directed by Gaurav Rana. Presented as well as produced by Kathakaar Films which was founded by Akshay Bhagwanji and Akash Pratap Singh, Main Ladega will be released in theaters on 26th April 2024.

Mumbai Comic Con Wraps Up with a Bang, A Celebration of Pop Culture and More!

~ Comic Con India, the country's premier pop-culture celebration is back in the city of dreams. From celebrity appearances to exclusive merchandise, and top notch cosplayers from India and around the  globe at the ultimate weekend for pop culture enthusiasts !~

Mumbai, India – 22nd April - The city of dreams, Mumbai witnessed an exhilarating weekend of the year for all things pop culture. Comic Con India brought pop culture enthusiasts from across the city for its last of this season's event. The event served as a haven for cosplay enthusiasts and spectators alike, offering a gateway to a world where fantasy and reality collide. The weekend was filled with interactive activities, games, and an array of merchandise, keeping the spirit of Comic Con soaring high. 

Presented by Maruti Suzuki Arena, powered by Crunchyroll and in association with Android, Mumbai Comic Con 2024 treated every attendee to an exclusive copy of Spiderman-India (No.1 Issue) comic book, in collaboration with Marvel Comics. The event showcased comics in a big way with a slew of upcoming publishing houses and Indian artists like Indusverse, Holy Cow Entertainment, Acid Toad, Garbage Bin, Bullseye Press, Bakarmax, Art of SAVIO, and Abhijeet Kini  and many more along with International guests Jason Loo and GUY Delisle graced the event. The event saw immense love pouring in for popular movies, games and comic book characters like Itachi, Luffy, Goku, Deadpool & Wolverine, Spidermans, Batman, Viper (Valorant), Victor (Pubg shooter), Subzero (Mortal Kombat), Franklin (GTA), Xiao, Zhongli (Genshin Impact), Brimstone (Sage) and so much more.

The venue buzzed with excitement as new comic book launches took center stage, including Karejwa by Bakarmax, Monday To Friday by Corporat Comics, Ghosts of South India by Abhijeet Kini, Minnal Murali by Tinkle Comics, and the announcement of Suppandi’s birthday by Google Android. Art Guy Rob conducted a captivating session igniting nostalgia among audiences.

A special panel on Demon Slayer, featuring voice-over artist Natsuki Hanae, stole the spotlight, while the dynamic duo Rohan Joshi and Sahil Shah delivered yet another hilarious session of Binge-O-Clock. Popular rapper MC Altaf set the stage on fire with his rap, and the cast of Lakadbaggha also made an appearance. DJ Kazu and Shahrule kept the crowd grooving with their electrifying beats and rap. The talented comedian Harsh Gujral brought laughter to everyone with his wit.

Speaking about the thrilling weekend celebration, Jatin Varma, Founder, Comic Con India, said, “The excitement and enthusiasm that the celebration brings along with boundless creativity and passion of pop culture enthusiasts at Comic Con, fills me with immeasurable joy. Each edition of Comic Con has been a rewarding journey, and Mumbai, as the final stop, embodies the vibrant spirit of our community. The infectious energy witnessed at our shows creates memories that last a lifetime. I am grateful to our audience for their unwavering support and participation and eagerly anticipate more unforgettable moments in the editions to come.”

MC Altaf shared, "Mumbai Comic Con is very close to my heart as it's my home turf.  Performing here was a memorable experience that I will always cherish."

Comedian Harsh Gujral said, "This is my first Comic Con experience. I think the energy in the audience was exceptional. I was scared in the beginning to perform in the open, but I was really surprised. People were enjoying the entire event while also paying attention to all the various performances happening and that's what I loved the most. The vibe and energy of the audience was commendable."

Comic artist and cartoonist Jason Loo said, "Working with Marvel comics is always a dream.  I'm always amazed at every project I do, I get to draw or write this character today like Thor or Captain  America; this is awesome, and Mumbai Comic Con has been overwhelming. It has exceeded all my expectations with the high energy and enthusiasm of all the fans. I've never been shown this kind of love before in any kind of show. I would definitely like to be back for another Comic Con in India."

On April 20th-21st, 2024, the event also featured The Arena – a dedicated gaming expo, featuring amazing experiences, tournaments, free play zones as well as the opportunity to meet & greet with leading streamers. Key Event Partners include brands such as CELIO, HDFC, Comedy Central, OnePlus, Android, NYX Cosmetics, McDonald’s & VH1. 

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About Comic Con India:

THE BEST WEEKEND OF THE YEAR!

Comic Con India is the biggest celebration of pop culture on the subcontinent. With multiple shows held across India, attracting over 200K+ fans annually and millions more digitally. We bring together a series of fandoms of various elements of pop culture ranging from comics, toys, merch, anime, cosplay, TV, movies, gaming & more.

Social Media:

Instagram: www.instagram.com/comicconindia

Facebook: www.facebook.com/comicconindia

Official Hashtag: #ComicConIndia