Thursday, September 21, 2023

GATORADE® WELCOMES SUMIT NAGAL AS ITS NEW FAMILY MEMBER

National, September 21, 2023: After coming across Tennis player Sumit Nagal’s heartfelt confession, Gatorade® came forward to support Sumit by welcoming him to the Gatorade® family with a 3-year association. Gatorade’s®  purpose has always been to fuel hardworking athletes forward along with its mission to remove the barriers to sporting success and encouraging greater participation.

With a vast history of supporting athletes across the world, Gatorade® believes in enabling athletes to achieve peak performance. This move by Gatorade® underscores its commitment towards helping athletes. In addition, Sumit will be assisted on his recovery and nutrition needs under the guidance of a team of experts at the Gatorade®  Sports Science Institute (GSSI). Gatorade® Sports Science Institute helps athletes optimize their health and performance through research, innovation and education on hydration and nutrition science which is key element for sportspeople.  

Ankit Agarwal, Associate Director, Energy & Hydration, PepsiCo India adds on the association, “Gatorade has always believed in supporting sportspeople to achieve peak performance. Sumit is a role model for the new-gen athletes of India with his career being a true example of hard work and sweat that makes talent shine. As a brand that is dedicated to supporting athletes in removing barriers to sporting success, we are delighted to welcome Sumit to the Gatorade squad. We wish him the best as he represents the nation, and we hope to empower the next generation of athletes with this association as they continue to pursue their dreams.”

Tennis Player, Sumit Nagal said, “I am deeply moved and grateful to join hands with Gatorade. This association comes to me at a pivotal time, and I am thankful my hard work and passion is getting recognized and appreciated. With Gatorade by my side, I am sure I will reach new heights and give it my all both on and off the court.

Get Ready for the FIFA 2023 Showdown: Olympus Gaming Lounge's Ultimate Gaming Event



Football fans and gamers, get ready for an epic showdown as Olympus Gaming Lounge is all set to host their FIFA 2023 Tournament on 23rd September. The stage is set, and the excitement is palpable as players from all corners of the city gather to showcase their skills and vie for glory!


This isn't your average gaming event; it's a celebration of football and esports coming together. With about 50 participants and a prize pool of INR 23,000,  FIFA enthusiasts will have the opportunity to test their mettle against fellow players, and, of course, bragging rights as the FIFA 2023 champion 


The tournament is a testament as we bid farewell to our trusty FIFA 2023 and welcome a brand new adventure with FC 24!


Whether you're a seasoned FIFA pro or just a casual player looking for a fun and competitive atmosphere, this event has something for everyone. Spectators are also welcome to come and cheer for their favorite players, with an electrifying atmosphere that's sure to get your heart racing. It's the perfect opportunity for anyone looking for a good time to come together and share their passion for the game.


Join us for a day filled with adrenaline-pumping matches, incredible goals, and unforgettable moments. Let's kick off the FIFA 2023 Tournament at Olympus Gaming Lounge with a bang!


When: Saturday 23rd September, 11am - 3pm

Address:

Upper Basement Link Corner Mall, 24th road and 33rd road corner Bandra (Near Starbucks Linking Road), Mumbai - 400050

Contact number: 07021425992

Know more onhttps://www.instagram.com/olympusgaminglounge/



Zee One: Elevating Bollywood Entertainment on Samsung TV Plus in Germany


Zee One Channel returns to television screens via Samsung TV Plus in Germany, Switzerland, and Austria

Mumbai, 21 September 2023: Responding to the demand for Bollywood and Indian television content, Zee Entertainment Enterprises Limited (ZEEL) announces the re-launch of Zee One, a Bollywood-centric channel uniquely tailored for German viewers through a groundbreaking partnership with Samsung TV Plus. This strategic move ensures seamless access to the channel's content on Samsung TV Plus. Additionally, it provides audiences with thousands of hours of Bollywood films, including titles like Happy New Year, Pardes, Rustom, Shamitabh and many more. Furthermore, it offers highly successful Indian television series dubbed in the German language, such as Jamai Raja, Kundali Bhagya, and Jodha Akbar. Zee One promises to deliver high-quality entertainment from the cinematic Mecca of Asia: Bollywood. Zee One’s premium content is specially adapted for the German market. This fast channel will broadcast a highly curated mix of movies and series, starring Bollywood superstars such as Shah Rukh Khan, Anil Kapoor, and Deepika Padukone. The movies will span all genres, including romance, comedy, action, among others.


Mr. Punit Misra, President-Content & International Markets at Zee Entertainment Enterprises, highlighted the strategic importance of this step: "We are delighted to collaborate with Samsung TV Plus to offer an enriched Indian entertainment experience for our viewers in Germany, Switzerland, and Austria. As a global content company, Zee is present in over 190 countries, entertaining over a billion viewers worldwide. With this partnership, we are recommitting ourselves to being Extraordinary Together in the service of one of the most competitive and leading content markets worldwide.”


Ashok Namboodiri, Chief Business Officer – International Business, said,"Zee One is more than just a channel – it's a cultural bridge that connects audiences in Germany, Switzerland, and Austria to the vibrant world of Bollywood. Our goal is to provide genuine and captivating viewing experiences that transcend borders while honoring the timeless universal language of storytelling. Partnering with Samsung TV Plus aligns perfectly with our vision of serving not just the South Asian diaspora with channels and programming in Indian languages but also the wider international audience in their native languages.”


Benedikt Frey, Country Lead DACH - Samsung TV Plus, says,"We are delighted to add Zee One to Samsung TV Plus in Germany, Switzerland, and Austria. This marks an exciting moment as we bring hours of Bollywood-centric content to the service in the DACH region. We look forward to bringing the vibrant world of Bollywood to new and existing audiences, in Indian languages.”


Zee Entertainment Enterprises is a global media and entertainment powerhouse, recognized for its diverse content offerings that resonate with audiences across the globe. With a strong commitment to creativity and quality, Zee Entertainment Enterprises has consistently set new benchmarks in the entertainment industry.


Samsung TV Plus is Samsung’s own FAST (free ad-supported streaming TV) service; no subscription, sign-up, additional devices, or credit card are required. It comes pre-installed on Samsung Smart TVs from 2016 to 2023 and can be downloaded from the Google Play and Galaxy Store on Samsung Galaxy devices in select territories. With Samsung TV Plus, users can access numerous channels spanning news, sports, entertainment, along with a library of movies and popular shows for on-demand viewing. This ad-supported service is accessible in the UK and 15 other European regions, requiring only an internet connection.

Wednesday, September 20, 2023

Ministry of External Affairs Issues Advisory for Indians Living in Canada


20th September, Mumbai/New Delhi: Amidst the ongoing tensions with Canada, the Ministry of External Affairs has issued an advisory for Indians living in Canada. The Ministry of External Affairs said in the advisory that due to the increase in anti-India activities and politically motivated hate crimes and criminal violence in Canada, all Indians traveling there and present there are advised to exercise caution.


“Recently, threats have particularly targeted Indian diplomats and sections of the Indian community who oppose the anti-India agenda”, further stated the advisory. Therefore, Indian citizens should avoid going to places where violent incidents have taken place in Canada recently, or places where violence is possible. 


The Ministry of External Affairs has mentioned that it will remain in touch with Canadian authorities to ensure the safety and well-being of the Indian community in Canada. The Ministry has especially advised Indian students to exercise extreme caution and remain alert in such times of heightened violence. 


The Ministry of External Affairs has advised Indian citizens to register with the Indian High Commissioner in Ottawa, Canada or the Consulate General of India in Toronto and Vancouver through their respective websites, or the MADAD portal madad.gov.in. These registrations will help the Indian Missions better connect with Indian citizens in the event of any emergency.

World Alzheimer's Day- 21 September



Only 10 % Alzheimer patients received medical intervention on time in India

Mumbai- Alzheimer's disease is a condition where the brain starts to shrink, and the brain cells start to die. This leads to significant memory loss, cognitive decline, loss of ability to do daily tasks and changes a person's ability to function properly. Alzheimer's disease is a serious condition and requires immediate treatment and supervision. Every year, World Alzheimer's Day is celebrated to create awareness about this disease and the importance of early treatment. Signs, prevention and treatment options are explored on this day and people come closer to learn about the disease together.

Commenting on Alzheimer's disease on the occasion of World Alzheimer’s Day Dr. Deepak Aiwale Neurologist & Director of Solaris Hospital, Thane says, “In India, only 10% of the individuals affected with dementia get a definite medical diagnosis and the vast majorities are misconstrued as mere instances of senile memory impairment. This can be attributed to the lack of knowledge about dementia, particularly amongst the rural community (which forms the major share in population). Alzheimer's disease is a progressive disease that remains undiagnosed at its prodromal stages due to the absence of noticeable symptoms, but as the disease progresses further and symptoms first appear, the extent of neuronal damage becomes irremediable. In due course, neuronal cells that are required for conducting even simple bodily tasks such as swallowing and walking are affected, rendering the patient to become bedridden. Cognizance of the disease is the first step towards its management; therefore, there is an urgent need for the government to educate the masses about Alzheimer's disease through print, networking or media. This will further promote individuals with disease symptoms and/or their families to go for a clinical diagnosis. Diagnosing Alzheimer's early allows for early intervention and the initiation of treatments that can help manage symptoms and slow down the progression of the disease.

He further added, currently India has 8.8 million active cases of Alzheimer's disease and is expected 16.9 million seniors may get affected by 2036 and triple by 2050. However, the prevalence of Alzheimer's disease varies noticeably in different states of the country with Kerala, Goa, Andhra Pradesh, Tamil Nadu and Himachal Pradesh ranked as the top 5 contributors to the country’s total Alzheimer's disease case load and this positively correlates with proportion of elderly individuals in the total population of the states. The proportion of disease burden was observed to be higher in the female population. World Alzheimer's Day is important for creating awareness, empowering caregivers, promoting solidarity across the globe, fostering research, and advocating for the patients. It is a day to show support, and improve the lives of Alzheimer's patients and their families.

About Solaris  Hospital : The Solaris hospital is equipped with diagnostic and therapeutic services under one roof with daycare and acute care unit, 24×7 radiology services including CT scan, 24x 7 sonology and radio intervention. Solaris hospital is the first dedicated neuro-critical care unit with team experience and well-known critical care consultant team etc. Solaris hospital has a memory clinic that offers a comprehensive screening and care program for Alzheimer's disease and other memory disorders, including neurologist and geriatric physician consultation, physical and cognitive rehabilitation, and psychotherapy. Since cognitive and behavioral problems affect the family along with the patient, we also offer family counseling services, help target rehabilitative goals and equip the family for long term home care.

www.solarishospitals.com





Monday, September 18, 2023

Duroflex partners with Inspire Institute of Sport to elevate Indian athletes’ performance at international sporting events


~Aims to foster future champions through expert guidance~

National, September 18, 2023: Duroflex, a trusted name synonymous with the pursuit of better sleep, is proud to announce their partnership with Inspire Institute of Sport (IIS), a JSW Group initiative. The collaboration with IIS, a High-Performance Training Centre that nurtures young athletes in five Olympic disciplines, seeks to redefine the way Indian athletes prepare for success. Leveraging their expertise in sleep, Duroflex, in partnership with IIS, embark on an inspiring journey in support of India’s talented athletes as they compete on the international stage.


As part of this collaboration, Duroflex is equipping IIS athletes with their high-quality, research-based sleep infrastructure to ensure they obtain the deep, restful sleep vital for their training and peak performance. This includes Duroflex's Energise range of mattresses, meticulously crafted to enhance sleep quality for athletes. This initiative aims to establish an ideal environment for athletes to rejuvenate, recover, and achieve peak performance as Champions of India.


Mohanraj J., CEO at Duroflex emphasized, “Duroflex has always been committed to improving sleep quality to transform lives. This collaboration with IIS is a testament to our belief that quality sleep is the cornerstone of peak performance. We are proud to support our nation’s athletes. Our mission is to help athletes understand the significance of rest in their journey. We aim to provide them with the ultimate sleep experience, helping them awaken refreshed and ready to conquer their dreams.”


Rushdee Warley, CEO at Indian Institute of Sport, expressed his enthusiasm for this collaboration stating, “At IIS, we are on a relentless mission to empower our athletes with the best resources to excel. Quality sleep has often been underestimated in the past, but it’s a game-changer. Our partnership with Duroflex reflects our commitment to ensuring our athletes have the best tools for success.”


The announcement of this collaboration was made at an exclusive press conference featuring key spokespersons from Duroflex, IIS and JSW Sports, as well as the presence of talented athletes who are also representing India at the upcoming The Asian Games - Yamini Maurya (Judoka) – Qualified for Asian Games 2023, World University Games Bronze Medallist, Kalaivani Srinivasan (Boxer) – Gold Medallist, South Asian Games 2019 and Nikhil Yadav (Wrestler) – Junior World Championship Bronze Medallist.


The synergy between Duroflex and IIS in this mission is not merely any association; it’s a shared vision. When it comes to athletic performance, sleep is as crucial as consistent practice and a balanced diet. Athletes push their physical and mental limits, and good sleep plays a pivotal role in the recovery process, aiding the body in healing and rebuilding. While sleeping their bodies regenerate, repair muscles, and rejuvenates.

Jupiter Life Line Hospitals IPO Makes a healthy debut on the Exchanges; Lists at 32.38% premium


Mumbai, September 18, 2023: Multispecialty Hospital Chain, Jupiter Life Line Hospitals Limited debuted on the exchanges at 32.38% premium.

The scrip listed Rs. 960.00 per share on BSE and Rs. 973.00 per share on NSE, at a premium of 30.61% and 32.38% respectively. The company's share price closed at Rs. 1,075.25 per share on the BSE, a 46.29% premium, and at Rs. 1,073.95 per share on the, 46.11% premium.

As per NSE, the total quantity traded stood at 128 lakh shares, on BSE the total Quantity stood at 8.5 lakh shares. Total Turnover (BSE+NSE) on Day 1 stood at Rs 1,406.46 crore.

The Market Capitalization of the Company at today’s closing price stood at Rs. 7,049.99 Crore as per BSE and Rs. 7,041.46 Crore as per NSE.

Led by founder, Chairman and Managing Director, Dr. Ajay P Thakker with over 3 decades of experience in the field of medicine and healthcare and Dr. Ankit Thakker, Executive Director and Chief Executive Officer who has a more than a decade experience in the healthcare sector. The Company commenced operations in 2007 with a hospital in Thane, Maharashtra and has been operating for over 15 years as a corporate quaternary care healthcare service provider in the western regions of India. It currently operates three hospitals in Thane, Pune and Indore under the “Jupiter” brand. 


Jupiter Hospitals has a strategic focus on the western India healthcare market. It currently is in the process of developing a multispecialty hospital in Dombivli, Maharashtra, which is being designed to accommodate over 500 beds. The construction of the hospital began in April 2023 and will be spread across 600,000 sq. feet.

JSW Infrastructure Limited’s Initial Public Offering to open on Monday, September 25, 2023, sets price band at ₹113 to ₹119 per Equity Share


Price Band of ₹113 – ₹119 per equity share bearing face value of ₹2 each (“Equity Shares”)

Bid/Issue Opening Date – Monday, September 25, 2023, and Bid/Issue Closing Date – Wednesday, September 27, 2023. 

The Anchor Investor Bidding Date - Friday, September 22, 2023;

Minimum Bid Lot is 126 Equity Shares and in multiples of 126 Equity Shares thereafter.

The Floor Price is 56.50 times the face value of the Equity Shares and the Cap Price is 59.50 times the face value of the Equity Shares.





JSW Infrastructure Limited (the “Company”), a part of the JSW Group and India’s second largest commercial port operator in terms of cargo handling capacity in Fiscal 2023 (Source: CRISIL Report), has fixed the price band at ₹113 to ₹119 per Equity Share for its initial public offering of Equity Shares.  


The initial public offering (“IPO” or “Issue”) of the Company will open on Monday, September 25, 2023, for subscription and close on Wednesday, September 27, 2023. Investors can bid for a minimum of 126 Equity Shares and in multiples of 126 Equity Shares thereafter. The Issue is entirely a fresh issue of Equity Shares worth ₹ 2,800 crore. 


The objects of the issue is to prepay or repay Rs 880 cr of it’s outstanding borrowings; finance capital expenditure requirements amounting to Rs 865.75 cr for an LPG Terminal Project, Rs 59.4 crs for setting up an electric sub-station, Rs 103.88 cr for the purchase and installation of a dredger and finance Rs 151.04 crs for the proposed expansion at Mangalore Container Terminal besides general corporate purposes.


JSW Infrastructure Limited is a port-related infrastructure company which received initial cargo from the JSW Group as anchor customer. In addition to partnering with JSW Group Customers, to pursue its growth strategies, the Company has diversified its customer base to include third-party customers across geographies and has expanded its cargo mix by leveraging its locational advantage and maximizing asset utilization. As on June 30, 2023, the Company’s installed cargo handling capacity was 158.43 million tonnes per annum ("MTPA”). The Company provides maritime related services including, cargo handling, storage solutions, logistics services and other value-added services to its customers.

The Company’s operations expanded from one port concession at Mormugao, Goa (acquired by the JSW Group in 2002) where it commenced operations in 2004, to nine Port Concessions as of June 30, 2023. It has a diversified presence across India with Non-Major Ports located in Maharashtra and port terminals located at Major Ports across the industrial regions of Goa and Karnataka on the west coast, and Odisha and Tamil Nadu on the east coast. 




The Company’s Port Concessions are strategically located and well-connected to cargo origination and consumption points. This enables the Company to serve the industrial hinterlands of Maharashtra, Goa, Karnataka, Tamil Nadu, Andhra Pradesh and Telangana and mineral rich belts of Chhattisgarh, Jharkhand and Odisha (Source: CRISIL Report), making its ports a preferred option for its customers. 

It also operates two port terminals under operations & maintenance agreements in Fujairah Terminal and Dibba Port in the UAE with cumulative cargo handling capacity of 41 MTPA as of June 30, 2023. 

The Company plans to further expand its operations through brownfield and greenfield projects. It is also considering inorganic opportunities to further expand its capacities, customer base, service offerings and geographical footprint. The new capacity building is aimed at strengthening its presence in handling container and liquid cargo with a focus on growing its third-party customer base. 

The Company’s third party cargo business in India has witnessed a compounded annual growth rate  of 65.58% from 11.30 million metric tonne (“MMT”) in FY21 to 30.98 MMT in FY23 and by 32.29% from 7.03. MMT in the three-month period ended June 30, 2022 to 9.30 MMT in the three-month period ended June 30, 2023. 

The cargo handled for the Company’s third-party customers in India as a proportion of its total cargo handled by volume increased from 24.81% in FY21 to 33.37% in FY23. It emerged as the fastest growing port-related infrastructure company in terms of growth in installed cargo handling capacity and overall cargo volumes handled during Fiscal 2021 to Fiscal 2023 (Source: CRISIL Report). 


The Company’s business is aligned to the Government of India’s thrust towards privatization of Terminals across Major Ports hitherto managed by Port Trust Authority. Government policies have provided great impetus to the Ports sector through various initiatives including Gati Shakti Scheme, National Logistics Policy, Sagarmala and Bharatmala Pariyojana to improve transport infrastructure. (Source: CRISIL Report). 

From operating terminals at major ports to developing greenfield ports like Jaigarh Port and Dharamtar Port, handling multi-commodity cargo including dry bulk, break bulk, liquid and gases and containers, with an aim to increase its third-party customer base, JSW Infrastructure Limited is uniquely positioned to capitalise on India’s growth opportunities with a strong balance sheet and ambitious growth targets. 

JM Financial Limited, Axis Capital Limited, Credit Suisse Securities (India) Private Limited, DAM Capital Advisors Limited, HSBC Securities and Capital Markets (India) Private Limited, ICICI Securities Limited, Kotak Mahindra Capital Company Limited, and SBI Capital Markets Limited are the book running lead managers and KFin Technologies Limited is the registrar to the Issue. The Equity Shares are proposed to be listed on BSE and NSE.





DISCLAIMER: JSW INFRASTRUCTURE LIMITED is proposing, subject to receipt of requisite approvals, market conditions and other considerations, to make an initial public offer of its Equity Shares and has filed a draft red herring prospectus dated May 9, 2023 with SEBI (the “DRHP”) and a red herring prospectus dated September 13, 2023 with the RoC. The RHP is made available on the website of the SEBI at www.sebi.gov.in as well as on the website of the BRLMs i.e., JM Financial Limited at www.jmfl.com, Axis Capital Limited at www.axiscapital.co.in, Credit Suisse Securities (India) Private Limited at http://www.credit-suisse.com/in/en/investment-banking-apac/investment-banking-in-india/ipo.html, DAM Capital Advisors Limited at www.damcapital.in, HSBC Securities and Capital Markets (India) Private Limited at www.business.hsbc.co.in/en-gb/in/generic/ipo-open-offer-and-buyback, ICICI Securities Limited at www.icicisecurities.com, Kotak Mahindra Capital Company Limited at https://investmentbank.kotak.com and SBI Capital Markets Limited at www.sbicaps.com, the website of the NSE at www.nseindia.com and the website of the BSE at www.bseindia.com and the website of the Company at www.jsw.in/infrastructure. Any potential investor should note that investment in equity shares involves a high degree of risk and for details relating to such risks, please see the section titled “Risk Factors” beginning on page 31 of the RHP. Potential investors should not rely on the DRHP for making any investment decision. The Equity Shares have not been and will not be registered under the United States Securities Act of 1933, as amended (the “U.S. Securities Act”) or any other applicable law of the United States and, unless so registered, may not be offered or sold within the United States except pursuant to an exemption from, or in a transaction not subject to, the registration requirements of the U.S. Securities Act and applicable state securities laws. Accordingly, the Equity Shares are being offered and sold (a) in the United States only to “qualified institutional buyers” (as defined in Rule 144A under the U.S. Securities Act pursuant to Rule 144A of the U.S. Securities Act, and (b) in "offshore transactions" as defined in, and in reliance on, Regulation S under the U.S. Securities Act and the applicable laws of the jurisdiction where those offers and sales are made. 

DISCLAIMER CLAUSE OF SEBI: SEBI only gives its observations on the offer documents and this does not constitute approval of either the Issue or the specified securities stated in the Issue Document. The investors are advised to refer to pages 485 of the RHP for the full text of the disclaimer clause of SEBI. 

DISCLAIMER CLAUSE OF BSE: It is to be distinctly understood that the permission given by BSE Limited should not in any way be deemed or construed that the RHP has been cleared or approved by BSE Limited nor does it certify the correctness or completeness of any of the contents of the RHP. The investors are advised to refer to the pages 489 of the RHP for the full text of the disclaimer clause of BSE.

DISCLAIMER CLAUSE OF NSE: It is to be distinctly understood that the permission given by NSE should not in any way be deemed or construed that the Issue 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 page 490 of the RHP for the full text of the disclaimer clause of NSE.

DISCLAIMER CLAUSE OF CRISIL MI&A: CRISIL MI&A, a division of CRISIL Limited (CRISIL) has taken due care and caution in preparing this report (Report) based on the Information obtained by CRISIL from sources which it considers reliable (Data). This Report is not a recommendation to invest / disinvest in any entity covered in the Report and no part of this Report should be construed as an expert advice or investment advice or any form of investment banking within the meaning of any law or regulation. Without limiting the generality of the foregoing, nothing in the Report is to be construed as CRISIL providing or intending to provide any services in jurisdictions where CRISIL does not have the necessary permission and/or registration to carry out its business activities in this regard. JSW Infrastructure Limited will be responsible for ensuring compliances and consequences of non-compliances for use of the Report or part thereof outside India. CRISIL MI&A operates independently of, and does not have access to information obtained by CRISIL Ratings Limited, which may, in their regular operations, obtain information of a confidential nature. The views expressed in this Report are that of CRISIL MI&A and not of CRISIL Ratings Limited. No part of this Report may be published/reproduced in any form without CRISIL’s prior written approval.” 

For further details in relation to the Company, BRLMs, Company Secretary and Compliance Officer of the Company, availability of application forms and RHP, please refer to the statutory advertisement published on September 18, 2023

About JSW Infrastructure Limited: JSW Infrastructure Limited is part of the JSW Group. JSW Infrastructure Limited is the second largest commercial port operator in India in terms of cargo handling capacity in Fiscal 2023 operating environment-friendly seaports & terminals. It operates nine state port concessions strategically located on the west and east coasts of India. The existing ports and terminals of the Company are capable of handling a wide range of cargo and vessels up to Cape size. Its largely mechanized cargo handling system enable quick turnaround times while ensuring efficient use of existing resources. The strategic locations of these facilities makes its ports a preferred option for its customers.  JSW Infrastructure Limited has expanded its cargo mix by leveraging its locational advantage and maximizing asset utilization. As part of its future growth strategy, the Company plans to enhance its overall cargo-handling capacity to 300 MTPA by 2030. It is also strengthening its market position by focusing on value-added offerings with end-to-end logistic support and a diversified cargo profile. JSW Infrastructure is committed to strengthening its ESG performance across the operational ecosystem by aligning its policies and practices with international standards. As a multinational conglomerate, JSW Group also has other business interests in sectors such as steel, energy, cement, paints, sports and venture capital. (Source: CRISIL Report)

Sunday, September 17, 2023

QubeHealth bags funding from Inflection Point Ventures, Green Ivy Ventures & others


The Healthcare payments company tops-up its Pre-Series-A round

The company expects to deploy Rs. 3000 Crore in medical credit over the next three years

Mumbai, Monday 18 September 2023: QubeHealth (“Qube”), a healthcare payments company has topped-up its Pre-Series-A round with investments led by the Inflection Point Ventures, Green Ivy Ventures and other Family Investment offices. Keiretsu Forum and other existing shareholders of the company, also added to the undisclosed funding amount.

Speaking on the funding, Chris George, Co-Founder & CEO, Qube said, “Qube is changing the way Indians pay for their family’s healthcare. Integrating payment methods, no-cost medical loans, an open network of healthcare providers, we are on a mission to make healthcare payments, frictionless. This funding round adds to our pre-series-A corpus and gives us a runway of up to two years, while setting us up for our upcoming Series-A.”

Qube, offers a payments system and healthcare credit line to employees of companies that sign up to its QubeHealth-Credit product. Offered as a complement to the group health insurance policy provided by employers. 

From paying medical bills that are not covered, or partially covered by health insurance, to paying non-cashless bill payments OR OPD, Qube’s Users borrow and pay as they need from a pre-assigned credit limit. They choose the amount, the healthcare provider and a payback period of up to one year, with no interest or fees on repayments. The credit line is free to the employee, but the employer pays a small subscription fee, on behalf of the employee.

With medical inflation doubling in the last five years, insurance is turning out to be inadequate. Add to this a high friction insurance claims experience, and cashless payments continuing to be a burden, Indians are paying over $55 Billion every year on healthcare expenses, from their pockets. Qube operates in this part of the healthcare market, using embedded finance and payment systems to provide better access and options for healthcare to employed Indians.

The Company stated that they do not disclose funding amounts, but claimed that it has already activated Rs. 1000 Crore of medical credit to over 2 lakh employees of 270 corporates in India. In the next three years the company expects to deploy Rs. 3000 Crore in medical credit, enabling quick payments via its mobile app to any hospital or clinic in the country, linking a User’s bank account, Insurance payments, employer reimbursements and Qube’s own no-cost credit line.

Qube is only available through Indian employers for the time being.

Commenting on the investment, Mitesh Shah, Co-founder, Inflection Point Ventures said, “The intersection of finance and healthcare is a very interesting area for us and Qube has been at the forefront of this from the time we first invested in the company two years ago. Their focus and financially prudent approach to building a company has seen our initial investment grow four times and we believe that they are on a path to dominate the healthcare payments sector in India.”

Puneet Kothapa, for Green Ivy Ventures added, “Paying for your family’s healthcare is the foremost fear in the minds of any Indian and a solution that helps them in taking control of this will see rapid adoption. We believe Qube has proven that financing and frictionless payments is a great way to solve the healthcare access problem.”


About QubeHealth

QubeHealth (“Qube”) is a Mumbai headquartered company on a mission to give Indians better control of their healthcare bills. By aggregating healthcare providers, financing companies, and Indian corporates, Qube empowers employed Indians to borrow easily and pay quickly for any health or medical expense. Qube’s product is only available through employers in India.


QubeHealth has partnered with over 270 of India’s largest employers, over 600 brands of health service providers, and over 11,000 hospitals, clinics, and doctors, making it arguably India’s largest healthcare marketplace.

QubeHealth is a Pre-Series-A funded company, with investments from Inflection Point Ventures, Keiretsu Forum, Axiomatic Ventures, New Horizon Ventures, Mr. Mohit Burman (Chairman of Dabur India Ltd.), and other prominent Indian and International angel investors.


Tata Sampann expands its staple food portfolio with the launch of vermicelli

 Sampann newly introduced product range comprises of three distinct variants

Mumbai, 18 September 2023 – Tata Sampann, the brand dedicated to delivering high quality and tasty products, has expanded its offering of staple foods by introducing Vermicelli across the southern Indian market. The newly introduced product range comprises of three distinct variants - 'Sorghum Millet Vermicelli,' 'Protein Rich Roasted Vermicelli,' and 'Protein Rich Seviyan Vermicelli.'  The latter two options are made with 100% semolina (suji), which ensures a balance of protein and dietary fibre.


Crafted without the addition of maida, Tata Sampann Vermicelli boasts of a remarkable protein content. If the Roasted Vermicelli offers a texture that is non-sticky and non-lumpy, the Seviyan variant is with a source of dietary fibre, while the Sorghum Millet Vermicelli is a wholesome blend of suji and jowar. These quick-cooking varieties transform into a delightful meal in just a span of 10 minutes once roasted, providing convenience with nutrition. Apart from satiating the taste buds, Vermicelli also contributes to a well-rounded diet. It forms a cornerstone for an array of culinary innovations, making it the perfect choice for food enthusiasts who wish to savour authentic flavours without compromising on their wellbeing.


Ms. Deepika Bhan, President, Packaged Foods (India), Tata Consumer Products said, "We are delighted to introduce the Tata Sampann Vermicelli range in the Southern part of India, in line with our dedication to providing both nourishing and delectable options. As health consciousness continues to rise, consumers are increasingly seeking nutrition without compromising on flavour. Our range of Roasted, Unroasted, and Millet vermicelli is strategically positioned to cater to these evolving preferences and tap into the market's potential. Vermicelli's versatility makes it a food option beyond breakfast making it a wholesome option for meals throughout the day. It is a quintessential ingredient in most Indian households which now comes in premium forms that elevate everyday meals. With Sampann, we continue to satiate local tastes while delivering a wholesome choice."


The launch of Tata Sampann Vermicelli in the southern Indian market exemplifies the company’s commitment to providing premium quality products that consumers can trust.  The 200 g roasted vermicelli pack can be bought for Rs. 30/- (MRP incl. of all taxes) and the unroasted variant of 200 g can be bought at Rs. 22/- (MRP incl. of all taxes)    while the Millet vermicelli is priced at Rs. 30/- (MRP incl. of all taxes) for 180g. The products will be available in select premium outlets and leading e-commerce channels.

Saturday, September 16, 2023

SignatureGlobal (India) Limited - Initial Public Offer to open on Wednesday, September 20, 2023


Price Band fixed at ₹ 366 to ₹ 385 per Equity Share of face value of ₹1 each of  SignatureGlobal (India) Limited

Offer will close on Friday, September 22, 2023

Bids can be made for a minimum of 38 Equity Shares and in multiples of 38 Equity Shares thereafter


SignatureGlobal (India) Limited (“SGL” or the “Company”), proposes to open on Wednesday, September 20, 2023, an initial public offer of equity shares of face value of ₹1 each (“equity shares”) of SignatureGlobal (India) Limited (“Company” or “Issuer”) for cash at a price per equity share (including a share premium per equity share) aggregating up to ₹7,300.00 million (the “Offer”) comprising a fresh issue of equity shares aggregating up to ₹6,030.00 million by the Company (“Fresh Issue”) and an offer for sale of equity shares aggregating up to ₹1,270.00 million by the International Finance Corporation as the selling shareholder (the “Offered Shares”). 


The Offer will close on Friday, September 22, 2023.


The Price Band of the Offer has been fixed at ₹ 366 to ₹ 385 per Equity Share. Bids can be made for a minimum of 38 Equity Shares and in multiples of 38 Equity Shares thereafter.


ICICI Securities Limited, Axis Capital Limited & Kotak Mahindra Capital Company Limited are the Book Running Lead Managers to the offer.

 

SignatureGlobal (India) Ltd. is the largest real estate development company in the National Capital Region of Delhi (“Delhi NCR”) in the affordable and lower mid segment housing in terms of units supplied (in the below ₹ 8 million price category) between 2020 and the three months ended March 31, 2023, with a market share of 19%. (Source: Anarock Report).

 

The Company commenced operations in 2014 through its Subsidiary, Signature Builders Private Limited, with the launch of our Solera project on 6.13 acres of land in Gurugram, Haryana. It has grown its operations over the years and in less than a decade, and as of March 31, 2023, it had sold 27,965 residential and commercial units, all within the Delhi NCR region, with an aggregate Saleable Area of 18.90 million square feet. The Company’s Sales (net of cancellation) have grown at a compounded annual growth rate (“CAGR”) of 42.46%, from ₹ 16,902.74 million in Fiscal 2021 to ₹ 34,305.84 million in Fiscal 2023. As of March 31, 2023, it sold 25,089 residential units with an average selling price of ₹ 3.60 million per unit. 


SignatureGlobal (India) adopted an integrated real estate development model, with in-house capabilities and resources to execute projects from inception to completion which enables it to offer projects at competitive prices. Among its core strengths is the Company’s ability to efficiently turnaround projects on land that it ties-up and it typically launched projects within a period of 18 months from the date of acquisition of the land.


The Company has an extensive distribution network focused on the customer segments it targets, with 593 channel partners and an in-house team of 41 employees engaged in direct sales and 100 employees for indirect sales, as of March 31, 2023, that has helped to achieve the current scale of offerings. The Company has also been effectively leveraging technology for the sale of inventory. The Company’s AHP (Affordable Housing) projects are sold exclusively through digital channels, as mandated by the Directorate of Town and Country Planning, Haryana (“DTCP”) and since January 2022, its entire project inventory under AHP projects is being exclusively sold online, including on the government website.


The Company's investor base includes IFC and HDFC Capital Advisors who participated in multiple rounds of capital raise undertaken by the Company.


Disclaimer:


SIGNATUREGLOBAL (INDIA) LIMITED is proposing, subject to receipt of requisite approvals, market conditions and other considerations, to make an initial public offering of its equity shares (“Offer”) and has filed a Red Herring Prospectus (“RHP”) with the Registrar of Companies, Delhi and Haryana at New Delhi (“RoC”). The RHP is available on the website of the SEBI at www.sebi.gov.in, the website of the National Stock Exchange of India Limited at www.nseindia.com and the website of the BSE Limited at www.bseindia.com and the respective websites of the book running lead managers to the Offer, ICICI Securities Limited at www.icicisecurities.com, Axis Capital Limited at www.axiscapital.co.in and Kotak Mahindra Capital Company Limited at https://investmentbank.kotak.com. Investors should note that investment in equity shares involves a high degree of risk. For details, potential investors should refer to the RHP filed with the RoC, including the section titled “Risk Factors” on page 30 of the RHP. Potential investors should not rely on the DRHP read with the addendum dated August 10, 2023.


The Equity Shares have not been and will not be registered under the U.S. Securities Act of 1933 (the “U.S. Securities Act”) or any state securities laws in the United States, and unless so registered, and may not be offered or sold within the United States, except pursuant to an exemption from, or in a transaction not subject to, the registration requirements of the U.S. Securities Act and applicable U.S. state securities laws. Accordingly, the Equity Shares are being offered and sold outside the United States in ‘offshore transactions’ in reliance on Regulation S and the applicable laws of each jurisdictions where such offers and sales are made. There will be no public offering of the Equity Shares in the United States.



Launch of the book “Chal Mann Vrindavan” by Union Minister Anurag Singh Thakur, Hema Malini, Shatrughan Sinha, Jitendra, Jackie Shroff


Hon’ble Minister of Information & Broadcasting and Youth Affairs & Sports launches “Chal Mann Vrindavan” Coffee Table Book at Mumbai


Mr. Anurag Singh Thakur, Hon’ble Minister of Information & Broadcasting and Youth Affairs & Sports launched “Chal Mann Vrindavan” Coffee Table Book, a publication supported by Indian Oil Corporation Limited, in the presence of Ms. Hema Malini, MP & eminent film actress , Mr. Shrikant Madhav Vaidya, Chairman, Indian Oil, Dr. Ashok Bansal, Author & Editor of “Chal Mann Vrindavan” and Dr. Harivansh Chaturvedi, Director, BIMTECH and Publisher, “Chal Mann Vrindavan”.


"Chal Mann Vrindavan'...as the name suggests, is a window to the illustrious heritage of the globally popular temple-town of Vrindavan, situated 12 Km from Mathura. This book celebrates many key figures and events credited with shaping the present identity of the region. The development of this edition was motivated by the desire to make the rich legacy to a global audience.


“Chal Mann Vrindavan is a glimpse of Braj, and various cultural dimensions of Braj are presented in this Coffee Table Book. I appreciate Smt. Hema Malini and her team, as well as the Indian Oil team led by Shri Shrikanth Madhav Vaidya, for bringing forth this prestigious book which reflects the true essence of Vrindavan.” Indian Oil is also into preserving our rich cultural heritage and it has played a vital role in bringing this book to fruition” said Mr. Thakur while addressing the gathering.


“I always say that film is my career, dance is my devotion and dedication, and being a politician is my service to society. On this occasion of the release of this prestigious Coffee Table Book, I would like to thank Indian Oil for this wonderful job and for providing support to this noble cause. Mr. Shrikanth Madhav Vaidya and his team deserve thanks and applause for their wonderful cooperation in bringing this book to life.” said Ms. Hema Malini in her address.


"The vision behind Chal Mann Vrindavan was brought to life by none other than Smt. Hema Malini ji. Dedication over the years has resulted in this magnificent journey to Vrindavan captured in eloquent prose and vivid illustrations. While this book paints the portrait of Braj’s spirituality and cultural legacy, it simultaneously narrates Indian Oil’s deep-rooted connection with Mathura. Chal Mann Vrindavan is more than just a book. It's a spiritual odyssey that intertwines the rich heritage of Vrindavan with Indian Oil’s contribution to sustainable development." Mr. Vaidya said while speaking on Indian Oil’s association with this project.


Indian Oil & Mathura


During the last 3 years, Indian Oil has spent around Rs.82 crore for various CSR programmes in Uttar Pradesh, which is around 8% of our total CSR spending, touching 36 lakh lives. Some of our major CSR initiatives in the state include running of Swarn Jayanti Samudayik Hospital at Mathura, Contribution towards development of Namo Ghat at Varanasi, Intensified TB elimination project in UP, Provision of cancer care equipment for Homi Bhabha Cancer Hospital and Mahamana Pandit Madan Mohan Malaviya Cancer Centre, Varanasi etc.


When it comes to Mathura, Indian Oil has spent around Rs.33 crore for more than 50 CSR programmes during the last 3 years, which is around 40% of total CSR spending in the state of Uttar Pradesh. We have been running the Swarn Jayanti Samudayik Hospital here at Mathura since 1999; Under Indian Oil Aarogyam scheme 4 MMUs are providing healthcare services to 48 villages around Mathura; Around 800 solar streetlights have been installed nearby to the villages of Mathura Refinery; Battery-Operated Tricycles have been provided to the differently abled near Mathura Refinery; Roads have been constructed at various locations around the refinery providing connectivity to the hinterlands thus aiding rural development.

Sai Silks (Kalamandir) Limited Initial Public Offer to open on September 20, 2023

(L-R) Mr. John Perinchery, Senior Group Vice President, Motilal Oswal Investment Advisors Limited; Mr. K.V.L.N. Sarma, Chief Financial Officer, Sai Silks (Kalamandir) Limited; Mr. Prasad Chalavadi, Founder & Managing Director, Sai Silks (Kalamandir) Limited; Mr. Bharadwaj Rachamadugu, Senior Vice President, Sai Silks (Kalamandir) Limited; Mr. Mitul Shah, Head – Equity Capital Market, HDFC Bank Limited and Mr. Sachin Khandelwal, Executive Director & Co-Head - ECM, Corporate Finance, Nuvama Wealth Management Limited at a press conference in Mumbai to announce Sai Silks (Kalamandir) Limited’s forthcoming Initial public Offer (IPO).

Price Band fixed at ₹ 210 to ₹ 222 per Equity Share of face value of ₹ 2 each;


The Floor Price is 105 times and the Cap Price is 111 times the face value of the Equity Shares;


Bid/ Offer will open on Wednesday, September 20, 2023 and close on Friday, September 22, 2023. The Anchor Investor Bidding Date shall be Monday September 18, 2023;


Bids can be made for a minimum of 67 Equity Shares and in multiples of 67 Equity Shares thereafter

National, September, 14th 2023: Sai Silks (Kalamandir) Limited (the “Company”), shall open its initial public offer of Equity Shares on Wednesday September 20, 2023. The initial public offering comprises of a fresh issue of Equity Shares aggregating up to ₹ 6,000 million (the “Fresh Issue”) and an offer for sale up to 27,072,000 Equity Shares by Selling Shareholders (the “Offer for Sale” and together with the Fresh Issue, the “Offer”). 


The Anchor Investor Bidding Date shall be Monday, September 18, 2023.  The Offer will open on Wednesday, September 20, 2023 for subscription and will close on Friday, September 22, 2023.


The Price Band of the Offer has been fixed at ₹ 210 to ₹ 222 per Equity Share. Bids can be made for a minimum of 67 Equity Shares and in multiples of 67 Equity Shares thereafter.


The Company proposes to utilize the proceeds raised through the Fresh Issue towards - Funding capital expenditure towards setting-up of 30 new stores (“New Stores”) amounting to Rs. 1,250.84 million; Funding capital expenditure towards setting-up of two warehouses amounting to Rs. 253.99 million; Funding working capital requirements of our Company amounting to Rs. 2,800.67 million; Repayment or pre-payment, in full or part, of certain borrowings availed by our Company amounting to Rs. 500 million and balance amount for general corporate purposes.


The Offer for Sale comprises of up to 6,409,345 Equity Shares by Nagakanaka Durga Prasad Chalavadi; up to 7,949,520 Equity Shares by Jhansi Rani Chalavadi (collectively, “the Promoter Selling Shareholders”), up to 3,083,865 Equity Shares by Dhanalakshmi Perumalla, up to 656,295 Equity Shares by Doodeswara Kanaka Durgarao Chalavadi,  up to 6,346,975 Equity Shares  by Kalyan Srinivas Annam, up to  2,120,500 Equity Shares by Subash Chandra Mohan Annam and up to 505,500 Equity Shares by Venkata Rajesh Annam. 


The Equity Shares are being offered through the Red Herring Prospectus (“RHP”) dated September 13, 2023, and are proposed to be listed on BSE Limited (“BSE”) and National Stock Exchange of India Limited (“NSE”). For the purposes of this Offer, BSE Limited shall be the Designated Stock Exchange.


The Offer is being made through the Book Building Process, in terms of Rule 19(2)(b) of the Securities Contracts (Regulation) Rules, 1957, as amended (the “SCRR”), read with Regulation 31 of the Securities and Exchange of India (Issue of Capital and Disclosure Requirements) Regulations, 2018 (“SEBI ICDR Regulations”) and in compliance with Regulation 6(1) of the SEBI ICDR Regulations wherein not more than 50% of the Offer shall be available for allocation on a proportionate basis to Qualified Institutional Buyers (“QIBs”, and such portion, “QIB Portion”) provided that our Company may, in consultation with the book running lead managers (BRLMs), allocate up to 60% of the QIB Portion to Anchor Investors on a discretionary basis in accordance with the SEBI ICDR Regulations (“Anchor Investor Portion”), of which one-third shall be reserved for domestic Mutual Funds, subject to valid Bids being received from domestic Mutual Funds at or above the price at which allocation is made to Anchor Investors (“Anchor Investor Allocation Price”). 


Further, 5% of the QIB Portion (excluding the Anchor Investor Portion) shall be available for allocation on a proportionate basis only to Mutual Funds and the remainder of the QIB Portion (excluding the Anchor Investor Portion) shall be available for allocation on a proportionate basis to all QIBs (other than Anchor Investors), including Mutual Funds, subject to valid Bids being received at or above the Offer Price. Further, not less than 15% of the Offer shall be available for allocation on a proportionate basis to Non-Institutional Bidders (“Non-Institutional Category”) of which (a) one-third of the Non-Institutional Category shall be available for allocation to Bidders with an application size of more than ₹ 200,000 and up to ₹ 1,000,000 and (b) two-thirds of the Non-Institutional Category shall be available for allocation to Bidders with an application size of more than ₹ 1,000,000, and under-subscription in either of these two sub-categories of Non-Institutional Category may be allocated to Bidders in the other sub-category of Non-Institutional Category in accordance with the SEBI ICDR Regulations, subject to valid Bids being received at or above the Offer Price. Further, not less than 35% of the Offer shall be available for allocation to Retail Individual Investors (“Retail Category”), in accordance with the SEBI ICDR Regulations, subject to valid Bids being received from them at or above the Offer Price. 


Motilal Oswal Investment Advisors Limited, HDFC Bank Limited and Nuvama Wealth Management Limited (formerly known as Edelweiss Securities Limited) are the BRLMs to the offer.


All capitalised terms referred to in this press release that have not been defined shall have the same meaning as prescribed in the RHP.


Disclaimer:


SAI SILKS (KALAMANDIR) LIMITED is proposing, subject to receipt of requisite approvals, market conditions and other considerations to undertake an initial public offer of its Equity Shares and has filed the RHP with RoC. The RHP is available on the website of SEBI at www.sebi.gov.in as well as on the websites of the Stock Exchanges, i.e., BSE at www.bseindia.com and NSE at www.nseindia.com, the Company at www.sskl.co.in and is available on the website of the BRLMs , i.e., Motilal Oswal Investment Advisors Limited at www.motilaloswalgroup.com, HDFC Bank Limited at www.hdfcbank.com and Nuvama Wealth Management Limited (formerly known as Edelweiss Securities Limited) at www.nuvama.com. Any potential investor should note that investment in equity shares involves a high degree of risk and for details relating to such risk, see “Risk Factors” beginning on page 28 of the RHP. Potential investors should not rely on the DRHP dated July 21, 2022 or the addendum to the DRHP dated July 25, 2023 filed with SEBI in making any investment decision.


The Equity Shares have not been and will not be registered under the U.S. Securities Act of 1933 (the “U.S. Securities Act”) or any state securities laws in the United States, and unless so registered, may not be offered or sold within the United States, except pursuant to an exemption from, or in a transaction not subject to, the registration requirements of the U.S. Securities Act and applicable U.S. state securities laws. Accordingly, the Equity Shares are being offered and sold outside the United States in ‘offshore transactions’ in reliance on Regulation S and the applicable laws of each jurisdictions where such offers and sales are made. There will be no public offering of the Equity Shares in the United States.


Luv Sinha's art event ’Varuna' in collaboration with Rraaj Gharana celebrating art, bespoke jewellery and monsoons is a big hit, Shatrughan Sinha , Poonam Sinha ,Kussh Sinha, Utkarsh Sharma and others attend in grand style

Luv Sinha's House Of Creativity is celebrated and renowned for promoting various art forms and giving them a platform to express them freely. For the unversed, House Of Creativity was launched by Luv as a special token of appreciation to showcase his respect and love for his parents on the occasion of their anniversary few years back. Ever since then, HOC has grown and has become quite popular. Their latest initiative ’Varuna' in collaboration with Rraaj Gharana is a huge hit as well. The event took place on September 15th and went on till the 17th. The event was all about celebrating art, bespoke jewellery designs and monsoons and it took place at Rraaj Gharana Gems & Jewels. 


The event was duly attended by the likes of Luv Sinha, Shatrughan Sinha, Kush Sinha, Poonam Sinha, Utkarsh Sharma of Gadar 2 fame and Neha Kanddhari. 


Monsoon clouds are personified by Varuna, India’s beloved rain God. From an aesthetic perspective, artistes have always been inspired by the divine energy of monsoons and the masterly elements of Varuna’s spirit of ecological harmony during the beautiful rains. At Rraj Gharana too, this idea is rooted in their design philosophy. The idea of water through its varied forms and stages, reminds us about the importance of conserving, protecting, and sharing our heritage. Luv Sinha's 'House of Creativity' has brought together the abundant beauty of contemporary art by showcasing contemporary Indian artists - Nehha Kandhari, Sarika Mehta, Kedar DK, Kabir Hirani, Gautam Bansal and Shalaka Patil. 


Regarding the success of the event, Luv Sinha says,


"I am extremely grateful to everyone who made it a point to be there at the event for this very special initiative. I am happy that the artiste community came together to promote and encourage contemporary art in the best way possible. The presence of my family and Utkarsh who's a dear friend made it memorable. I’m thankful to all of them for gracing the event. The goal is to make this even bigger next time."


Stay tuned for more updates.

Friday, September 15, 2023

Financial Market Conclave on Indian Financial Markets: Powering the India Growth Story

The Bengal Chamber of Commerce & Industry organized Financial Market Conclave on 15th September, 2023 at the ITC Grand Central, Mumbai. The theme of the Conclave was Indian Financial Markets: Powering the India Growth Story. The Conclave discussions were around the issues in the Banking and Finance sectors, Capital market, Insurance Market and other related industry issues.


The Conclave was addressed by Guests of Honour Mr. C.S. Setty, MD, State Bank of India and Mr. S S Mundra, Chairman, BSE and Former Deputy Governor, RBI.


The other dignitaries were Mr. Amitabh Malhotra, Managing Director & Head of Global Banking, HSBC India, Mr. Dhiraj Relli, MD & CEO, HDFC Securities Limited, Mr. Ritesh Kumar, MD & CEO, HDFC ERGO General Insurance, Mr. G S Agarwal, CFO, Shriram Housing Finance, Mr. Shekaar Subramanian, Head-Structured Finance, Fedfina, Mr. Vishal Kapoor, CEO, Bandhan Mutual Fund, Mr. T. S. Ramakrishnan, MD & CEO, LIC Mutual Fund, Mr. Deepak Mehta, Head - Strategic Alliances, UTI Mutual Fund, Mr. Anand Pejawar, Whole Time Director, SBI General Insurance Company Ltd., Mr. Abhay Tewari, MD & CEO, SUD Life Insurance Co. Ltd., Mr. Ashok Suvarna, Chief Distribution Officer, Aditya Birla Sun Life Insurance Co. Limited, Mr. Gaurav Arora - Chief- Underwriting Claims, Property & Casualty, ICICI Lombard General Insurance Co. Ltd.


Mr. C.S. Setty, MD, State Bank of India stated that inclusive growth and backed by technology and digital public infrastructure has enabled the journey towards 5 trillion dollar economy in which financial inclusion is one of the key factors and he has mentioned about Jandhan Account in this reference. Also, we need to understand the credit need of the future and secure their citizen with insurance and empowerment with compound growth factors from capital market, mutual fund etc. Pre-approved credit lines is going to be a game changer. Lots of fintechs are there today. Mainstream banks and Fintechs combined together will ensure the digital connect between the banks and the customers beyond physical borders. Participation of end users is important in financial inclusion.


Mr. Amitabh Malhotra, Managing Director & Head of Global Banking, HSBC India spoke of digital revolution and stated that lots of positive development is taking place in the BFSI sector. UPI as a technology is revolutionary. ESG is becoming important in the banking industry. However, availability of people having the domain knowledge is a challenge. Regulatory framework in terms of bank’s obligations must be clear cut.    


Mr. Dhiraj Relli, MD & CEO, HDFC Securities Limited – There is need of infrastructure development in the country and it would grow as we grow. Finance will enable all businesses. So, there is a need to leverage the digital ecosystem to democratize the payments and the banking system. Financial inclusion needs to be low cost and end user driven. ESG is an important parameter for banks, business, and the entire ecosystem. When you follow sustainability and ESG framework you get a green halo from all the stakeholders and the regulators, investors, partners, employees have a positive view of the organization. Green halo has many positives across all the stakeholders.


Mr. Ritesh Kumar, MD & CEO, HDFC ERGO General Insurance – When we talk of financial inclusion, insurance inclusion is a very important too. The insurance literacy needs to start early right from school and colleges.  


Mr. S S Mundra, Chairman, BSE and Former Deputy Governor, RBI – The banking system today is well capitalized, sharper and stabilized. Global development can always impact but there is every reason to be optimistic. Mr. Mundra mentioned that the cash to derivatives ratio is quite high in India.

Manoj Vaibhav Gems ‘N’ Jewellers Limited’s Initial Public Offering to open on Friday, September 22, 2023, sets the price band at ₹204 to ₹215 per Equity Share

Price Band of ₹204– ₹215 per equity share bearing face value of ₹10 each (“Equity Shares”)

Bid/Offer Opening Date – Friday, September 22, 2023, and Bid/Offer Closing Date – Tuesday, September 26, 2023.

Minimum Bid Lot is 69 Equity Shares and in multiples of 69 Equity Shares thereafter.

The Floor Price is 20.4 times the face value of the Equity Share and the Cap Price is 21.5 times the face value of the Equity Share.












 


Mumbai, September 15, 2023: Vaibhav Jewellers is a leading regional jewellery brand in South India, with a presence in the micro markets of Andhra Pradesh & Telangana with 13 showrooms across 8 towns and 2 cities and a market share of ~4% of the overall Andhra Pradesh and Telangana jewellery market and ~10% of the organized market in these two states in FY2023, has fixed the price band at ₹204 to ₹215 per Equity Share for its initial public offer. The initial public offering (“IPO” or “Offer”) of the Company will open on Friday, September 22, 2023, for subscription and closes on Tuesday, September 26, 2023. Investors can bid for a minimum of 69 Equity Shares and in multiples of 69 Equity Shares thereafter.


The Public Issue of face value of ₹10 per Equity Share comprises of fresh issuance of equity shares worth up to Rs 210 crore and an Offer for Sale (OFS) of up to 2.8 million equity shares.


The jewellery brand is one of the earlier entrants in the organised jewellery retail market of Andhra Pradesh and continues to focus on regional expansion into the high-growth untapped regions within the micro-markets of Andhra Pradesh & Telangana thereby creating a market for branded jewellery in the area of operations. In 2007, it launched its flagship showroom in Visakhapatnam is spread across 29,946 sq ft and four different floors of shopping experience  

77% of its retail showrooms are in Tier 2 and Tier 3 cities and the rest are in Hyderabad and Vishakhapatnam catering to urban consumers. Each of its showroom houses has a varied exquisite and large inventory of designs across a wide range of products in Gold, Diamond, Gems, Platinum & Silver Jewellery or Articles. Its sub-brand Visesha caters to a premium segment of gold and diamond jewellery. 

For the three months ended June 30, 2023, revenue from operations stood at Rs 508.90 crore and net profit was Rs 19.24 crore. In FY 23 its revenue from operations was Rs 2027.34 cr, majorly from the sale of gold jewellery. In 2005 it stood at Rs 50.9 cr. The Jewellery brands per retail showroom average revenue and EBITDA metrics for fiscal 2023 stood at Rs 155.95 cr and Rs 11.00 cr respectively. Between FY21-23 the Revenue and PAT grew a CAGR of 18.92% and 85.81%. Its e-commerce sales grew from Rs 4.16 cr in FY 19 to Rs 36.40 cr in FY 23. 

Bajaj Capital Limited and Elara Capital (India) Private Limited are the book-running lead managers and Bigshare Services Private Limited is the Registrar to the Offer. The Equity Shares are proposed to be listed on BSE and NSE.

DISCLAIMER: MANOJ VAIBHAV GEMS 'N' JEWELLERS LIMITED is proposing, subject to receipt of requisite approvals, market conditions, and other considerations, to make an initial public offer of its Equity Shares and has filed a red herring prospectus (the “RHP”) with RoC. The RHP shall be made available on the website of the SEBI at www.sebi.gov.in as well as on the website of the BRLMs i.e., www.bajajcapital.com and www.elaracapital.com and the website of the National Stock Exchange of India Limited at www.nseindia.com and the website of the BSE Limited at www.bseindia.com and on the Company website at www.vaibhavjewellers.com. Any potential investor should note that investment in equity shares involves a high degree of risk and for details relating to such risks, see “Risk Factors” beginning on page 30 of the RHP. Potential investors should not rely on the RHP for any investment decision. 

This announcement has been prepared for publication in India and may not be released in the United States. This announcement does not constitute an offer of securities for sale in any jurisdiction, including the United States, and any securities described in this announcement may not be offered or sold in the United States absent registration under the U.S. Securities Act of 1933 or an exemption from registration. Any public offering of securities to be made in the United States will be made by means of a prospectus that may be obtained from the Company and that will contain detailed information about the Company and management, as well as financial statements. However, the securities described in this announcement are not being offered or sold in the United States

DISCLAIMER: The Equity Shares, to be offered through the Red Herring Prospectus are proposed to be listed on the Stock Exchanges. Our Company has received ‘in-principle’ approvals from the BSE and the NSE for the listing of the Equity Shares pursuant to their letters dated October 17, 2022, respectively. For the purposes of this Offer, the Designated Stock Exchange shall be BSE Limited. A copy of the Red Herring Prospectus and the Prospectus shall be filed with the RoC in accordance with Sections 26(4) and 32 of the Companies Act, 2013. For details of the material contracts and documents available for inspection from the date of the Red Herring Prospectus until the Bid/ Offer Closing Date, please see the chapter titled “Material Contracts and Documents for Inspection” beginning on page 397 of the RHP

DISCLAIMER CLAUSE OF SEBI: SEBI only gives its observations on the offer documents and this does not constitute approval of either the Offer or the specified securities stated in the offer document. The investors are advised to refer to page 338 of the RHP for the full text of the disclaimer clause of SEBI.


DISCLAIMER CLAUSE OF BSE (The Designated Stock Exchange): It is to be distinctly understood that the permission given by BSE Limited should not in any way be deemed or construed that the RHP has been cleared or approved by BSE Limited nor does it certify the correctness or completeness of any of the contents of the RHP. The investors are advised to refer to the page 340 of the RHP for the full text of the disclaimer clause of the BSE Limited


DISCLAIMER CLAUSE OF NSE: It is to be distinctly understood that the permission given by NSE should not in any way 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 page 340 of the RHP for the full text of the disclaimer clause of NSE.


For further details in relation to the Company, BRLM, Company Secretary and Compliance Officer of the Company, availability of application forms and RHP, please refer to statutory advertisement published on 14 September, 2023.


14वी वर्ल्ड स्पाईस काँग्रेस शुक्रवारपासून


मुंबई, 14 सप्टेंबर, 2023: वर्ल्ड स्पाईस काँग्रेसची (डब्ल्यूएससी) बहुप्रतीक्षित 14वी आवृत्ती शुक्रवारपासून (15 सप्टेंबर) सुरू होणार आहे. मसाले बोर्ड इंडिया, वाणिज्य आणि उद्योग मंत्रालय, विविध व्यापार संस्था आणि निर्यात मंच यांच्या संयुक्त विद्यमाने आयोजित डब्ल्यूएससीने मसाले उद्योग आणि व्यापारासाठी प्रमुख कार्यक्रम म्हणून जागतिक ओळख मिळवली आहे. काँग्रेसच्या 14व्या आवृत्तीमध्ये धोरणकर्ते (पॉलिसी मेकर्स), नियामक अधिकारी ( रेग्युलेटरी ऑथॉरिटीज), मसाले व्यापार संघटना, सरकारी अधिकारी आणि विविध देशांतील तांत्रिक तज्ञांसह उपस्थितांचा समुदाय जागतिक मसाल्यांच्या व्यापारातील आव्हाने आणि संभाव्यतेवर चर्चा करण्यासाठी एकत्र येतात.

यावेळच्या आवृत्तीसाठी वाणिज्य आणि उद्योग राज्यमंत्री, सचिव, वाणिज्य, भारत सरकार आणि विदेश व्यापार महासंचालक अनुप्रिया पटेल यांच्यासह मान्यवर पाहुण्यांची उपस्थिती लाभणार आहे. 

या प्रसंगी टिप्पणी करताना, स्पाइसेस बोर्डाचे सचिव डी साथियान म्हणाले की, "वर्ल्ड स्पाइस काँग्रेस 2023 हे स्टेकहोल्डर्ससाठी कोविड-19 नंतरच्या उदयोन्मुख उद्योग ट्रेंडचे मूल्यांकन करण्यासाठी आणि एकत्रितपणे पुढे जाण्यासाठी एक अमूल्य व्यासपीठ म्हणून काम करेल."

 केवळ व्यापारच नव्हे तर नियामक धोरणांनाही प्रोत्साहन देण्यावर समर्पित लक्ष केंद्रित करून हा तीन दिवसीय कार्यक्रम जागतिक मसाल्यांच्या व्यापाराला चालना देण्याच्या उद्देशाने विशेष व्यावसायिक सत्रांचे आयोजन करेल, असेही ते म्हणाले.

14वी वर्ल्ड स्पाईस काँग्रेस हा मेगा इव्हेंट 17 सप्टेंबर 2023 पर्यंत नवी मुंबईतील सिडको इंटरनॅशनल कन्व्हेन्शन सेंटर येथे सुरू राहणार आहे.


- वर्ल्ड स्पाईस काँग्रेस 2023 चे (डब्ल्यूएससी) ठळक मुद्दे

व्हिजन 2023: स्पायसेस (VISION 2030: SPICES) ही डब्ल्यूएससी 2023 ची थीम आहे. ही थीम शाश्वतता, उत्पादकता, नावीन्य, सहयोग, उत्कृष्टता आणि सुरक्षिततेचे प्रमुख स्तंभ समाविष्ट करते. काँग्रेसमधील चर्चासत्रात पिके आणि बाजार अंदाज आणि ट्रेंड यावर चर्चा होईल; अन्न सुरक्षा आणि गुणवत्ता मानके आणि प्रमाणपत्रे; फार्मास्युटिकल, न्यूट्रास्युटिकल, नाविन्यपूर्ण आणि प्रतिबंधात्मक आरोग्य सेवा उत्पादनांमधील मसाल्यांसाठी ट्रेंड आणि संधी; मसाले-आधारित मसाले आणि कार्यात्मक अन्न उत्पादने; वापरण्यास तयार/स्वयंपाक/ पेय उत्पादने; मसाला तेले आणि ओलिओरेसिनसाठी ट्रेंड आणि संधी, ग्राहकांची प्राधान्ये आणि उदयोन्मुख ट्रेंड; पुरवठा साखळी व्यवस्थापनातील विश्वासार्हता आणि अखंडता, पॅकेजिंगवरील आंतरराष्ट्रीय आवश्यकता, जागतिक मसाला बाजारातील ट्रेंड आणि संधी इत्यादी डब्ल्यूएससी 2023 चा भाग म्हणून मसाले आणि मूल्यवर्धित मसाल्यांच्या उत्पादनांची विविधता तसेच मसाले उद्योगातील नाविन्यपूर्ण तंत्रज्ञान आणि उपायांवर प्रकाश टाकणारे प्रदर्शन देखील आयोजित केले आहे.


- इव्हेंटमध्ये पुढील गोष्टी समाविष्ट:

● अवॉर्ड नाइट्स – मसाल्यांच्या निर्यातीत उत्कृष्टतेसाठी प्रतिष्ठित पुरस्कारांचे वितरण

● मसाला अनुभव क्षेत्र

● अस्सल भारतीय अनुभव – सांस्कृतिक आणि पाककला

● टेक टॉक सत्र आणि उत्पादन लाँच

● तंत्रज्ञान चर्चा, उत्पादन लॉन्च आणि कुकरी शोचे समवर्ती सत्र.


भारतीय मसाला आणि खाद्यपदार्थ निर्यातदार संघटना, मुंबई सारख्या भारतातील मसाला व्यापारी संघटनांच्या सक्रिय सहभागाने स्पाइसेस बोर्ड इंडियाद्वारे डब्ल्यूएससीचे आयोजन केले जात असून भारतीय मिरपूड आणि मसाला व्यापार संघटना, कोची; इंडियन चेंबर ऑफ कॉमर्स, कोलकाता; फेडरेशन ऑफ इंडियन स्पाईस स्टेकहोल्डर्स, उंझा, गुजरात आणि ऑल इंडिया स्पाईस एक्सपोर्टर्स फोरमचा (एआयएसईएफ) यात प्रामुख्याने सहभाग आहे. 

डब्ल्यूएससी 2023 मध्ये फक्त नोंदणीकृत प्रतिनिधी सहभागी होऊ शकतात. त्यामुळे सहभागासाठी स्वारस्य असणार्‍यांनी www.worldspicecongress.com वर ऑनलाइन नोंदणी करावी. 


डब्ल्यूएससीबद्दल:

जागतिक स्पाइस काँग्रेस (डब्ल्यूएससी) हे जागतिक मसाला उद्योगाचे समूह गेल्या तीन दशकांच्या प्रदीर्घ कालावधीत या क्षेत्राच्या चिंताजनक घडामोडी आणि विचारांवर चर्चा करण्यासाठी सर्वात योग्य व्यासपीठ बनले आहे. मसाले मंडळ, वाणिज्य आणि उद्योग मंत्रालय, भारत सरकारच्या नेतृत्वाखाली विविध व्यापार आणि निर्यात मंचांच्या पाठिंब्याने आयोजित वर्ल्ड स्पाइस काँग्रेस ही या क्षेत्राला अधिक चांगल्या प्रकारे जाणून घेण्याची संधी प्रदान करते. व्यापार, शाश्वतता, गुणवत्ता आणि अन्न सुरक्षा उपक्रम, अलीकडील घडामोडी, चिंता आणि भविष्यातील शक्यता यावर उद्योगातील प्रमुख घटक असलेले उत्पादक, व्यापारी, प्रोसेसर, निर्यातदार आणि घडामोडी जगभरातील नियामकांद्वारे तपशीलवार चर्चा केली जाते.

Thursday, September 14, 2023

RISE: Udyog Bhushan Marathwada Edition set to celebrate Marathwada's Business Mavericks


The entrepreneurial landscape of Marathwada is in the midst of a profound transformation, with a burgeoning focus on technology start-ups, agribusinesses, and small-scale manufacturing units. In a momentous endeavour, ‘RISE: Udyog Bhushan Marathwada Edition’, an esteemed program is poised to recognize outstanding entrepreneurs who are redefining the world of business, ushering visionary change, and pioneering innovation. This landmark event is scheduled to take place on Friday, 15th September 2023, in the vibrant city of Aurangabad, Maharashtra.


Marathwada's industrial development, particularly in Aurangabad, has played a pivotal role in fostering economic growth and generating employment opportunities. Entrepreneurs in this region are tapping into local expertise and resources to craft innovative solutions that not only cater to local needs but also resonate with global markets. It exerts a magnetic pull on both tourists and investors, offering a rich tapestry of cultural heritage and economic potential. The presence of a diverse range of industries has also spurred infrastructural enhancements and urban development.


The upcoming RISE: Udyog Bhushan Marathwada Edition by Zee24 TAAS will be graced by Hon. Bhagwat Karad, Minister of State for Finance, Govt. of India, Hon. Uday Samant, Minister of Industries, Govt of Maharashtra, Hon. Atul Save, Minister of Housing, Govt of Maharashtra, Hon. Sandipan Bhumare, Minister of Employment Guarantee & Horticulture, Govt of Maharashtra.   The event looks forward at engaging Industry stalwarts and dignitaries in in-depth discussions on topics revolving around infrastructure development, including road connectivity, transportation, and utility services, the growth of real estate in Aurangabad, focusing on affordable housing, development challenges, and investment prospects, dairy farming and livestock management, market links for agricultural and dairy products, both within India and for potential export etc


“RISE: Udyog Bhushan Marathwada Edition is a platform that celebrates the indomitable spirit of innovation and entrepreneurship within Marathwada and Aurangabad. It spotlights the remarkable contributions of young executives and entrepreneurs who are rewriting the rules of business, harnessing the city's rich entrepreneurial legacy. We are honored to host this event in Aurangabad, a city that seamlessly blends history with industrial progress, making it a thriving hub for visionary entrepreneurs," highlighted Dr. Nilesh Khare, Editor of Zee24 TAAS.


RISE: Marathwada Udyog Bhushan Edition promises to be an enlightening and enriching experience, bringing together visionaries, industry experts, and innovators who are shaping the destiny of Marathwada and beyond. The Associate Sponsors for the event are Dr. Chate Homeopathy, E Agro Care Machineries & Equipment Pvt Ltd & भाग्यविजय Astro Vastu Solution

Florintree buys a significant stake in Videonetics, India’s #1 Video Computing Platform Company

Kolkata, 14 September, 2023: 

Florintree, a growth-stage private equity firm, has bought a significant stake in Videonetics, a globally renowned video computing platform company headquartered in Kolkata India. 


The financial investors, GenNext Ventures Fund, and an US-based global investor saw an exit through this transaction.


Founded in 2008 by a globally renowned scientist and inventor, Dr. Tinku Acharya, Videonetics has been consistently ranked the #1 Video Management Software provider in India and among the top 5 in Asia (OMDIA Informa Tech 2021). It has recently expanded offshore with operations in Singapore to cater to the Southeast Asian markets and is on its way to establishing itself in other geographies. The company is driven by a passion for innovations and committed to making the world a safer, smarter, happier place.


Dr Tinku Acharya, Fellow IEEE, Chairman & Managing Director, Videonetics said, "I am very excited to partner with Florintree. Videonetics had achieved a great milestone by taking a leadership position in India. Videonetics is poised to become a dominant player in the global arena and add significant value to the marketplace. Moreover, our innovations in AI-enabled video computing technologies will continue, and I am confident that they will scale to newer heights."


Mathew Cyriac, Executive Chairman of Florintree Advisors, said, Videonetics is amongst the few Indian companies with a core DNA of R&D and innovation, having created significant IP in its domain. We are very excited to partner with Videonetics and Dr. Acharya as they take the “Made In India” Video Computing platform to the global stage.


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Note to Editors


About Videonetics:


Videonetics’ unified video management platform, powered by indigenously developed AI and deep learning engine, is a one-stop integrated video management solution that is also modular, encompassing cutting-edge applications such as Intelligent Video Management Software (IVMS), Video Analytics, Traffic Management (ITMS) and Face Recognition Software (FRS). The platform is trained on massive data sets, making the solutions incredibly robust, smart, and versatile for all industries and segments. The solutions and products are cloud-ready, cloud-agnostic, ONVIF compliant, OS and hardware-agnostic, scalable, and interoperable.


About Florintree


Florintree Advisors Private Limited is a specialist India focused alternative investment manager based in Mumbai. Florintree currently manages PIPE and private market investments. Florintree is led by Mr. Mathew Cyriac. Over the last 6 years or so, Florintree has concluded investments across multiple sectors in the private as well as public markets and has listed three of its portfolio companies via IPO (MTAR Technologies, Data Patterns and Ideaforge Technology).