Monday, July 23, 2018

VITS LUXURY HOTELS LAUNCHES ‘VITS SHARANAM THANE’



VITS Hotels, one of the fastest growing hotel chains, has launched 'VITS Sharanam Hotel, Thane', a luxury corporate hotel located at just a 10-minute drive from the Thane Railway Station. Conveniently situated from major shopping hubs and close to Eastern Expressway the hotel is an ideal choice for globetrotting travelers and corporate sojourners.

Announcing the launch, Chandrakant Shetty, CEO, VITS Hotels says, “We are delighted to announce the launch of VITS Sharanam Thane. This is our sixth property in Maharashtra and we are extremely upbeat on the exponential growth prospect in this region. We are pleased to welcome guests with refined elegance, finest services and contemporary amenities thereby setting new benchmark in hospitality services. VITS positioned as moderately priced full service luxury business hotels enjoys high occupancy rate at all our properties nationally. We believe VITS Sharanam Thane will provide a wonderful amalgam of exquisite facilities for the guests to experience the perfect stay in the city.

VITS Sharanam Hotel, Thane offers a stunning array of facilities that include resplendently crafted deluxe rooms & suites, multi-cuisine restaurant, travel desk, 24 hours room service, business center, conference room and banquet hall. Guests can indulge in a gastronomical adventure at ‘The Café’, offering an array of authentic delicious multi-cuisine flavors from India and the around the globe. The hotel houses a pure vegetarian restaurant, ‘Kamats’, India’s largest pure vegetarian restaurant chain that serves mouth watering delicacies in South Indian, Punjabi and Mughalai. It is ideal place to take a quick bite and choose from wide of variety of quality food, fresh ingredients and distinctive flavours.

VITS Sharanam Hotel Thane offers well-furnished Deluxe and Super Deluxe Rooms. The rooms are embellished with soft tones and soothing color palettes. The well air-conditioned accommodation blends contemporary design and modern amenities replete with LED TV, electronic safe locker, Tea & Coffee Maker, in room dining round the clock, Wi-Fi internet, travel desk, doctor on call and laundry service. Celebrate your event in a grand and special way at the commodious banquet hall & Conference Room – Emerald and Sapphire. The banquet facility is apt for hosting marriage parties, kitty parties, conferences, birthday parties and other memorable occasions.

VITS Luxury Hotels presently operates properties in Mumbai, Thane, Pune, Aurangabad, Bhubaneshwar, Ankleshwar, Agra, Dwarka, Gurugram, Latur, Nanded and Silvassa. VITS Luxury Hotels recently rolled out three boutique properties in the picturesque island of Phuket, Thailand’s most popular tour destination. As part of global expansion VITS group plan to take over 15 hotels primarily in Thailand and Malaysia within the next two years. The hotel chain presently has inventory of 1,000 Plus rooms with host of banqueting, conferencing, restaurant and lifestyle facilities. As part of its domestic expansion plans VITS Hotels will unveil the VITS hospitality experience in Mumbai (Colaba), Dahej, Ahmedabad and Mangalore shortly.

VITS Sharanam Hotel Thane, Eastern Express Highway, Service Road, Teen Hath Naka, Near New R.T.O, Thane, Maharashtra 400604.

Sunday, July 22, 2018

#MumbaiGeliKhaddyat : RJ Malishka How Dare you abuse Aamchi Mumbai ?

From Red FM Facebook page : Make one motivational song dedicated to Police force, Traffic Police & BMC workers who keep working in flooded situation. To demotivate people is easiest task. And Water logging is still a problem in USA, google it if someone have doubt. 

Municipal Corporation of Greater Mumbai, better known as BMC is life line of Mumbai. Mumbaikars love to hate MCGM. Overpopulated Mumbai is bursting at seams still she is alive and thriving with able administration of MCGM.

Let’s not argue and take a snap at the typical Mumbai-day. We get up in the morning, hurry into the bathroom, turn the tap and voila! The water is always running, though the whole Maharashtra is facing serious water shortage. The engineers, sluice men of MCGM’s water department work skillfully to keep meticulous quantity of water flowing throughout the slums and skyscrapers of Mumbai.

Next we dump our leftover food and scrap into the bins. We never separate our wet and dry garbage. The solid waste management department of MCGM takes care of it.

While passing by the garbage trucks we cover our precious noses with eau-de-cologned hankies. The sewerage workers toil in those stinking trucks to keep our city spic and span, whether it’s scorching or pouring.

We always get adequate and fresh supply of vegetables, fruits, fish, and meat at reasonable prices from MCGM’s 21 markets spread throughout city and suburbs.

The most important of MCGM’s duty and where it spends its major chunk of the revenue is Public Health Department. There are 229 Health posts from where free vaccination, immunization, vitamins, family planning methods and general medicines are administered for whole Mumbai.

MCGM runs 30 maternity homes plus 16 hospitals assist in child delivery and maternal care. The best medical treatment is available at affordable rates at Cooper, Bhagwati, Lokmanya Tilak, Rajawadi, V.N. Desai, Nair, Centenary ( Shatabdi ), Kasturaba etc. MCGM’s mobile medicine vans routinely provide general medicine in various slum pockets of Mumbai. The airborne diseases are kept in check by the Pest Control Department.

MCGM gives free school education to 5, 19160 students of Mumbai.
Its Storm Water drain Department carries away pouring rain water to keep Mumbai active.MCGM administers 23 Fire brigade stations.

In other states, separate boards are formed for Water ,Sewerage, Education, but only in Maharashtra it’s MCGM which does the thankless extra job of providing the essential services.

Why do people whine so much about Mumbai-rains?. If The Train's schedule is disrupted due to monsoon, the Railway Board is responsible for that. Most of the potholes , the traffic jams on highways are due to Metro-work , where MMRDA is equally responsible. Just cursing and abusing BMC ( MCGM ) for everything under the SUN and above the SEA is absolutely foolish. If they really find it so much bothersome as to want to shift to Mars or Zumaritalayya, who has stopped them?. Nobody has invited or forced people to stay in Mumbai. It's equivalent to cursing our own mother and father for big family and resultant poverty. Finally If Mumbai is so problematic, why more and more people from inside as well as outside India rushing to Mumbai, dreaming to settle in Mumbai ?

It’s a fact that Mumbai is an Island, eclipsed by appx. 65% unauthorized slum population. The unauthorized constructions have blocked Mithi river, Sanjay Gandhi National Park ( aka Borivli national park ), drainage, beaches and footpaths. Many more rush to Mumbai, every hour of 365 days a year. How and where can MCGM accommodate and manage such mammoth population?.

Let me know about any island on Earth which is as much densely populated as Mumbai and still efficiently administered by local Municipal body.


Our Mumbai is clean, healthy and going strong with the efforts of MCGM’s work force. MCGM is truly the lifeline of Mumbai. But do we citizens care for the proper functioning of our lifeline which is clogged with slums and unauthorized constructions. Until and unless we remove these hurdles how could we expect the proper flow of services from MCGM?

We tend to take MCGM for granted, neglecting our own duties. Is it fair?

Change in GST rates needed to help smokers quit smoking


The increased GST on the NRT products may deter smokers from trying to quit the habit


Mumbai, Nicotine Replacement Therapy (NRT), is an effective approach to tackle tobacco addiction. Despite aiding positive outcomes, NRT formulations continue to have a higher GST slab, which would certainly prevent tobacco addicts from trying the therapy and adopt healthier lives. Under the current GST regime, Nicotine Polacrilex gum comes under the 18% slab, as against 11.3% average total indirect tax under the pre-GST regime, which is extremely high and not in consonance with the exercise of fitting a product in the nearest GST slab applicable. Surprisingly all other pharmaceutical products have been categorized under the ‘NIL’ or 5% or 12% slabs. This alarming discrepancy in the rates will not help India tackle the menace of tobacco smoking and would risk higher morbidity due to lifestyle and non-communicable diseases. This would act contrary to the National Health Policy.

In a country like India, with more than 100 million smokers and over one-fifth of the world’s tobacco-related deaths, tobacco de-addiction (both smoking & smokeless) is key area for the government under the ambit of the country’s Health Policy. Government has announced its aim to reduce tobacco use by 15% by 2020 and eventually 30% by 2030. For us as a country how do we provide tobacco addicts with easy access to rehabilitation related products and services, which become increasingly unaffordable due to the GST related issue.

According to Dr. Jagannath P, Former State Consultant for Karnataka, and also worked for a WHO-funded project on National Tobacco Control Program “NRT has been instrumental in aiding innumerable smokers quit the habit. Global health bodies such as WHO and United States Federal and Drug Administration (US FDA) have also identified NRT as an aid to smoking cessation and recommends it as first line of treatment. Making NRT expensive would defeat the aim of the government in striving for a healthier nation and enhanced productivity.”
“NRT isan effective and easy aid to help quit smoking. By making NRT accessible to millions in India, we could decrease smoking-related disease burden by successfully mitigating the risks of lung cancer, emphysema, stroke, heart attack and complications in pregnancy. With the usage of Nicotine Replacement Therapy, the mortality rate due to smoking-related diseaseswould drop drastically within just a few years of quitting smoking, even for long-time smokers.” added Dr. RajamIyer, Pulmonologist associated with Bhatia and Hinduja Hospital, Mumbai. 

NRT provides small quantities of nicotine to the brain, without exposing the body to other harmful products of tobacco combustion. This small quantity of nicotine helps a smoker overcome the urge to smoke, which in turn helps a him quit the habit. Let GST not be a hindrance to India’s Health mission. India’s present & future is primarily dependent on good health.GST should enhance health seeking behavior of millions and not deter.

Friday, July 20, 2018

PepsiCo India Transforms Snacks Portfolio; Re-sizes packaging and Reduces Sodium



  • PepsiCo India reduces its carbon footprint by resizing packaging for its flagship brands Lay’s and Kurkure
  • PepsiCo India to reduce salt in 75% of its Snacks portfolio by 2025
  • Launched Lay’s Magic Masala and Spanish Tomato Tango with reduced sodium


 PepsiCo India continues to transform its Snacks portfolio, in line with its global sustainability agenda of ‘Performance with Purpose’. Committed to contributing to a greener India, the company has resized its packaging for its flagship snacks brands Lay’s and Kurkure to reduce its carbon footprint significantly.

Further to providing value to its consumers, the company has launched upgraded variants with reduced sodium in its bestselling Lay’s flavors i.e Indian Magic Masala and Spanish Tomato Tango. Adapting to changing consumers taste profiles, the new Lay’s ‘Indian Magic Masala’ and ‘Spanish Tomato Tango’ are now available with a better enhanced mix of spices containing 13% to 15% lesser sodium respectively.  This is in addition to its recently launched Kurkure Multigrain with Power grain Ragi and 21% reduced sodium.


Talking about PepsiCo India’s portfolio transformation, Mr. Jagrut Kotecha, Vice President – Snacks Category, PepsiCo India Ltd. said, “As a responsible Snacking company, PepsiCo India has made significant progress in transforming its snacks portfolio. We have reduced 5% to 25% sodium across popular variants of our snacks flagship brands, Lay’s and Kurkure and we further aim at reducing sodium in 75% of our food’s portfolio by 2025”

In line with our Performance with Purpose goals 2025, we are working to reduce the impact of our packaging on the environment and increase recycling of plastic waste. The first step towards the actualization of this journey is the resizing of packaging of our brands Lay’s and Kurkure. This will significantly help us in reducing our carbon footprint, thereby contributing towards a greener India. He added.
PepsiCo India entered India in 1989 and has grown to become one of the largest MNC food and beverage businesses in India. PepsiCo India has been consistently investing in the country and has built an expansive beverage and snack food business supported by 62 plants across the country. PepsiCo India’s diverse portfolio includes iconic brands like Pepsi, Lay’s, Kurkure, Tropicana 100%, Gatorade and Quaker.
PepsiCo’s growth in India has been guided by “Performance with Purpose”, its goal to deliver top-tier financial performance while creating sustainable growth and shareholder value. In practice, Performance with Purpose means providing a wide range of foods and beverages from treats to healthy eats; finding innovative ways to minimize our impact on the environment and reduce our operating costs; providing a safe and inclusive workplace for our employees globally; and respecting, supporting and investing in the local communities where we operate. In 2009, PepsiCo India achieved a significant milestone, by becoming the first business to achieve ‘Positive Water Balance’ in the beverage world, a fact verified by Deloitte Touché Tohmatsu India Pvt. Ltd. The company has been Water Positive since then. For more information, please visit www.pepsicoindia.co.in

HGH India 2018 closes with overwhelming business results



 HGH India 2018, 7th annual edition of the trade show for Home Textiles, Home Décor, Houseware, and Gifts received an overwhelming response from the trade visitors and the industry. 34,960 trade visitors, primarily retailers, distributors and institutional buyers from 480 cities and towns across India attended this trade show to find innovations, source home products for their business and discover upcoming home fashion trends for 2018-19. This latest edition of HGH India witnessed 14% rise in the number of visitors over last year. Over 600 brands and manufacturers from 30 countries unveiled their innovations and new collections at HGH India 201 8, either directly or through their Indian partners.
HGH India 2018 reflected the rising interest in integrated approach to Home Textile, Home Decor and Houseware as they continued to move towards a single lifestyle category called ‘Home’. Buyers and visitors showed interest in new and trendy products along with offerings from international players. The organizers’ effort to launch the new concept of ‘Indian Heritage’ products with an appeal for Handicrafts, Jute, Coir and Khadi to modern consumers attracted keen attention. Indian Heritage was supported by various Government organizations, emphasizing on the importance of reconnecting with the roots. The quality of presentations and products evolved testifying the upgrade of consumer needs and expectations.
Dr. Kavita Gupta, I.A.S, Textile Commissioner, Government of India, inaugurated the event and commented saying, “HGH India has grown almost 40% over last year which reflects the importance of this trade show as well as the Indian market. We as a country are in the position to buy and promote items in the home textiles and related industry especially now as our tastes are evolving and becoming more trendy and fashionable. The Trend Pavilion at HGH India is particularly important as it sets the theme for the home textile and décor trends for the Indian market."
Mr. Keval Mehta, General Secretary- Atco (All India Wallpaper Coverings Association) said, “We are very happy with the outcome of HGH India, especially this year.  I feel that both our organizations’ relationship will only continue to evolve further in the years ahead.  We have over thirty brands exhibiting this year which is a big step forward for us, and I foresee this only growing further next year as well. I must also mention that I am very impressed with the Trends Pavilion this year. In fact, we have incorporated some of these trends into our products that are on display. I look forward to HGH India 2019.”

Mr. Rajesh Mahajan, Chairman- Maspar said, “We have been with HGH India since its first year, and are thus overjoyed to be part of the show again. The response to our offerings has been great on all three days. Each year, we look forward to meet retailers and consumers from different regions, cities and towns of India every year and in my opinion, this is the perfect platform to achieve the same. I believe that this industry is still evolving and therefore, I am thankful to HGH India for consistently providing us the opportunity to showcase our new concepts and merchandise to strengthen our rapport with visitors on all three days of the trade show.” 

HGH India 2018 forecasted the latest trends in home fashion and lifestyle. Conceptualized and implemented by the internationally renowned design studio Sahm + Permantier, the trends, under the title ‘#Transition’, were showcased at the Trend Pavilion to bring fashion and style directions to the Indian home products community. It also focuses on the acceptance of Indian culture from the ethnic past to the modern present by contemporary Indian consumers, which was reflected in the range of new products on offer.

The predicted trends are derived from intense research on colours, materials and patterns as well as on changing consumer values, lifestyle, evolving technology and attitudes. The #Transition trend book helps manufacturers, brands, retailers and professionals in home business to connect their products and innovations to the aspirational Indian consumers who see their home as an expression of their lifestyle and evolving culture. Given the success of last year, this year the Trends Pavilion was set up in a larger format to cater to the rising interest of the exhibitors, product developers, designers, buyers and other trade visitors.

Arun Roongta, Managing Director, HGH India, said, “HGH India continues to develop as a trade show for the Indian Home Products Market but with International standards. It is a great business platform for Indian buyers, retailers, manufacturers and brands to connect and mutually grow their respective business and also the industry in its entirety. With the increasing buying power and refined sensibilities of the Indian market, we hope that the home products industry witnesses’ manifold growth and HGH India continue to be an important partner in this journey. I am happy that we could attract not only urban visitors but also visitors from interior cities and towns of India. Home products are a desire and a necessity all over the country."
HGH India 2018 saw some of the biggest brands like Welspun, Bombay Dyeing and Marshal launch their new products which peaked the buyer's interests. HGH India 2018 also saw international participation showcasing products from Turkey, German, Italy, UK, France, Greece, USA, Taiwan, Thailand, Korea, China, Russia, Poland, Japan, Belgium, Bangladesh, Sri Lanka and many others.
The next edition of HGH India is scheduled from 2th to 4th July 2019 at Bombay Exhibition Centre, Mumbai.
About HGH India
HGH India, the annual trade show for Home Textiles, Home Décor, Gifts& Houseware is organised by Texzone Information Services Pvt. Ltd. The trade show is specially designed to connect Indian market for home products and gifts. High quality trade visitors at HGH India comprise of all categories of retailers.  They include department stores, hyper markets, specialty stores, high-end luxury stores and boutiques, traditional store owners, and online and electronic medium retailers. Institutional buyers, corporate gift buyers, interior designers, prospective agents and franchisees too come in large numbers.
Besides these, leading Indian importers, distributors, buying agents and brand representatives attend HGH India to explore new business opportunities and partnerships.
HGH India has firmly established itself as a world-class, professional, trend-setting trade show for home textiles, home décor, houseware and gifts. The show connects its exhibitors with their high potential trade buyers in India and helps them find their long-term business partners here. It provides a quick and effective access to the rapidly emerging Indian home products market

Thursday, July 19, 2018

Edelweiss announces Rs.20,000 million Public Issue of Secured Redeemable Non-Convertible Debentures (NCDs)



ISSUE OPENS ON 24 July & CLOSES ON 16 Aug, 2018
 ECL Finance Ltd (ECLF), the NBFC arm of Edelweiss Financial Services Limited, today announced the public issue of Secured Redeemable Non-Convertible Debentures (NCDs) of the face value of Rs. 1,000 each, aggregating to Rs. 5,000 million, with an option to retain over-subscription up to Rs. 15,000 million aggregating to a total of Rs. 20,000 million (Rs. 2000 crores).
The NCDs offer an interest rate of 9.45% p.a. for 36 months tenure, 9.65% p.a. for 60 months tenure and 9.85% for 10 years tenure. Further, there is also a floating rate option which is linked to the overnight Mumbai Inter-Bank Offer Rate (MIBOR). Under this option, investors can earn the average annualized overnight MIBOR + 2.5% p.a. for 3 years. (Please refer to the Offer Documents for more details).
CRISIL  has rated the offering “CRISIL AA/Stable” and ICRA has given it a  “ICRA AA (Stable)” indicating that the instruments are considered to have a high degree of safety for timely servicing of financial obligations and carry very low credit risk.
Total income and profit after tax (PAT) of ECL Finance Ltd. for the financial year ended March 31, 2018 was Rs. 30,600.27 million and Rs. 4,620.47 million, respectively. Over four years the Company’s income from operations witnessed a CAGR of39.32 % to Rs. 30,600.27 million in FY2018, PAT witnessed a CAGR of 30.35 % to Rs. 4,620.47 million in FY 2018 and the loan book of the Company has witnessed a CAGR of 37.84% to Rs. 220,081.23 million in FY2018.

The funds raised through this Issue will be used for onward lending purposes, for refinancing the existing borrowing and general corporate purposes.
Axis Bank Ltd and Edelweiss Financial Services Limited are the lead managers for this NCD Issue. The issue opens on July 24, 2018 and closes on August 16, 2018 with an option of early closure**. The NCDs will be listed on BSE Limited and National Stock Exchange of India Limited to provide liquidity to the investors.
**The subscription list for the Issue shall remain open for subscription upto 5 p.m. on all working days, with an option for early closure or extension by such period, as may be decided at the discretion of the duly authorized committee of Directors of our company subject to necessary approvals, if any. In the event of such early closure of the Issue or extension of the Issue, our Company shall ensure that notice of such early closure or extension of the Issue is given as the case may be on such date of closure through advertisement/s in a leading national daily newspaper with wide circulation on or before such earlier or initial date of Issue closure.
About ECL Finance Limited:
ECL Finance Limited (ECLF) was set up on July 18, 2005 as a wholly owned subsidiary of Edelweiss Financial Services Limited (EFSL). It is a Systemically Important Non-Deposit taking Non-Banking Financial Company (NBFC-NDSI) registered with the Reserve Bank of India.
ECLF is primarily engaged in the business of corporate lending, providing finance to industrial enterprises, SMEs and individuals, and investment in other securities. Its products include loans to SME, loans against property, , loans against securities, ESOP and IPO financing, , structured collateralized loans to corporates and real estate finance etc.
The company is headquartered in Mumbai and the network of branches across India enables it to service clients across locations.
ECLF’s Company Identification number is U65990MH2005PLC154854

About Edelweiss Group
Edelweiss Group is one of India's prominent diversified financial services conglomerate catering to the diverse investment and strategic requirements of corporate, institutions, high net worth individuals and retail clients. Its businesses are broadly divided intoCredit BusinessFranchise & Advisory Business and Insurance.
The Edelweiss Group serves around 1.2 mn clients from the retail and wholesale segments across its various businesses out of its 448 offices.

DISCLAIMER OF ECL FINANCE Ltd: ECL Finance Limited, subject to market conditions and other considerations is proposing a public issue of secured, redeemable non-convertible debentures (“NCDs”) and has filed the Shelf Prospectus dated 13 July 2018 and Tranche I Prospectus dated 13 July 2018 with the Registrar of Companies, Maharashtra at Mumbai, National Stock Exchange of India Limited, BSE Limited and SEBI. The Shelf Prospectus dated 13 July 2018 and Tranche I Prospectus dated 13 July 2018 are available on our websitehttps://eclfinance.edelweissfin.com, on the website of the stock exchanges www.nseindia.comwww.bseindia.com and the respective websites of the lead managers at www.axisbank.com and www.edelweissfin.com. Investors proposing to participate in the issue, should invest only on the basis of the information contained in the Shelf Prospectus dated 13 July 2018 and Tranche I Prospectus dated 13 July 2018. Investors should note that investment in NCDs involves a high degree of risks and for details relating to the same, please refer to Shelf Prospectus dated 13 July 2018, including the section on “Risk Factors” beginning on Page 14 of the Shelf Prospectus dated 13 July 2018.
DISCLAIMER CLAUSE OF BSE: It is to be distinctly understood that the permission given by BSE should not in anyway be deemed or construed that the Prospectus has been cleared or approved by BSE nor does it certify the correctness or completeness of any of the contents of the Prospectus. The investors are advised to refer to the Prospectus for the full text of the Disclaimer Clause of the BSE.
DISCLAIMER CLAUSE OF USE OF BSE ELECTRONIC PLATFORM: It is to be distinctly understood that the permission given by the BSE to use their network and software of the Online system should not in any way be deemed or construed as compliance with various statutory requirements approved by the Exchange; not does it in any manner warrant, certify or endorse the correctness or completeness of any of the compliance with the statutory and other requirements; nor does it take any responsibility for the financial or other soundness of this Company, its promoters, its management or any scheme or project of this Company.
DISCLAIMER CLAUSE OF NSE: It is to be distinctly understood that the permission given by NSE should not in anyway be deemed or construed that the Offer Document has been cleared or approved by NSE nor does it certify the correctness or completeness of any of the contents of the Offer Document. The investors are advised to refer to the Offer Document for the full text of the Disclaimer Clause of the NSE.
DISCLAIMER CLAUSE OF USE OF NSE ELECTRONIC PLATFORM: It is to be distinctly understood that the permission given by the NSE to use their network and Online Platform for facilitating applications for public issue of NCDs shall not in any way be deemed or construed as compliance with various statutory and other requirements by the Company; LMs are cleared or approved by NSE; nor does it warrant, certify or endorse the correctness or completeness of any of the compliance with the statutory and other requirements; nor does it take any responsibility for the financial or other soundness of the Issuer, its promoters, its management or any scheme or projects of the Issuer.
DISCLAIMER CLAUSE OF CRISIL: CRISIL ratings reflects CRISIL’s current opinion on the likelihood of timely payment of the obligations under the rated instrument and CRISIL does not guarantee the accuracy, adequacy or completeness of the information reviewed. CRISIL ratings are not a recommendation to invest / disinvest in any and should not be construed as an expert advice or investment advice or any form of investment banking within the meaning of any law or regulation. CRISIL is not responsible for any errors and especially states that it has no financial liability whatsoever to the subscribers/users/transmitters/distributors of this product
DISCLAIMER CLAUSE OF ICRA: An ICRA rating is a symbolic indicator of ICRA’s current opinion on the relative capability of the issuer concerned to timely service debts and obligations, with respect to the instrument rated. ICRA ratings should not be treated as recommendation to buy, sell or hold the rated debt instruments. ICRA ratings are subject to a process of surveillance, which may lead to revision in ratings. ICRA in particular makes no representation or warranty, express or implied as to the accuracy, timelines or completeness of any such information. All information contained herein must be construed solely as statement of opinion, and ICRA shall not be liable for any losses incurred by users from any use of this publication or its contents.

World’s 1st tech-enabled courier by 13-year-old Tilak Mehta, Papers N Parcels launched


 Papers N Parcels, the brainchild of 13-year-old Tilak Mehta, is creating digital disruption in courier servicing. Bringing together the power of technology with the world’s most efficient network of Mumbai dabbawalas, it was launched after a successful beta testing phase.
Papers N Parcels, the app-based courier service, has tied up with the Mumbai Dabbawalas to leverage the award-winning network of over 5000 dabbawalas for door-to-door delivery and pick-up of packages within Mumbai City limits. Every dabbawala who doubles up as a courier boy, carries an Android phone loaded with the Papers N Parcels app to take orders for pick-up or delivery. To use this service, people need to download the app and schedule their time.
The Papers N Parcels app has real-time tracking features as also of the courier person with their contact details, which enhances the safety factor.  At the beta test phase, the Papers N Parcels app was efficiently handling about 1000 to 1200 deliveries per day.
Heralded as India’s youngest entrepreneur, 13-year-old Tilak is all set to break boundaries built on traditional business models and rebuild one that stands on an integrated business approach combining digital and traditional marketing solutions to meet customer needs.
Speaking on the launch, Tilak Mehta, Founder, Papers N Parcels, said: “I always marvelled at the swiftness and the efficiency of the dabbawalas food delivery network. I thought if this system could be replicated for parcel deliveries as well, then it would make in-city courier services much more efficient and cost-effective. With the launch of the Papers N Parcels mobile app, we are also ‘Uberising’ the category by providing door-to-door courier service at the press of a button.”
“Our business model is B2B, B2C and C2C all of which we will aggressively foray into. We are targeting at least 1 lakh deliveries per day by the end of 2019 and plan to employ around 2000 people”, added Ghanshyam Parekh, CEO, Papers N Parcels.
Talking about their association with Papers N Parcels, Subhash Talekar, Spokesperson, Mumbai Dabbawalas, said, “We are excited about our association with Papers N Parcels with its unique concept and that it creates an additional source of income after completing our tiffin deliveries.  We are looking at fulfilling some of our dreams with the extra income we get from courier deliveries for Papers N Parcels.”
Papers N Parcels allows hassle-free, safe, same-day, door-to-door pick-up and delivery facility, a user-friendly app, direct booking through the website and a direct dedicated customer service helpline to register requests and complaints, along with competitive prices for courier deliveries. You can also place your orders on the website.
About Papers N Parcels
Papers N Parcels is a digital disruption in courier servicing that brings together the power of mobile technology with the world’s most efficient network of Mumbai dabbawalas for same-day pick-up and delivery of parcels and packages across Mumbai city. It caters to the needs of people who are either short of time or of manpower resources - starting from collection of cheques to important documents, personal items like specs or chargers, reports, medicine, pathology, clothes, etc.
For further information, please visit: http://www.papersnparcels.com/