Completion of the term of Dr. Hasmukh Adhia as Chairman of Bank of Baroda

Mumbai, February 29, 2024: Bank of Baroda, a prominent public sector bank, officially announces the completion of the term of Dr. Hasmukh Adhia, on 29th February, 2024, after completing 5 years in the Bank as Non-Executive Chairman. 

Dr. Adhia contributed significantly to the growth and success of Bank of Baroda.  His visionary leadership, strategic acumen, and unwavering commitment have played a pivotal role in establishing Bank of Baroda as India’s second largest public sector bank.

Bank of Baroda extends its deepest appreciation to Dr. Hasmukh Adhia for his outstanding service, leadership, and dedication throughout the years.  

Bank of Baroda remains committed to upholding the highest standards of banking excellence set by Dr. Hasmukh Adhia and will continue its mission of contributing to the nation's economic growth.

About Bank of Baroda

Founded on 20th July, 1908 by Sir Maharaja Sayajirao Gaekwad III, Bank of Baroda is one of the leading commercial banks in India. At 63.97% stake, it is majorly owned by the Government of India. The Bank serves its global customer base of ~165 million through over 70,000 touch points spread across 17 countries in five continents and through its various digital banking platforms, which provide all banking products and services in a seamless and hassle-free manner. The Bank’s vision matches the aspirations of its diverse clientele base and seeks to instil a sense of trust and security in all their dealings with the Bank.

· Visit us at www.bankofbaroda.in 

· Facebook https://www.facebook.com/bankofbaroda/

· Twitter https://twitter.com/bankofbaroda

· Instagram https://www.instagram.com/officialbankofbaroda/

· YouTube https://www.youtube.com/channel/UCdf14FHPLt7omkE9CmyrVHA 

· LinkedIn https://www.linkedin.com/company/bankofbaroda/

Mukka Proteins IPO subscribed 2.47 times on Day 1

The Initial Public Offering of Mukka Proteins Limited was subscribed 2.47 times on the first day of bidding.

The issue received bids of 13,81,99,060 shares against the offered 5,60,00,435 equity shares, at a price band of ₹26-28, according to the data available on the stock exchanges.

Retail Portion was the most subscribed with 3.69 times, Non-Institutional Investors Portion with 1.55 times, whereas Qualified Institutional Buyer Portion subscribed 1.01 times. The issue kicked off for subscription on Thursday, February 29, 2024 and will close on Monday, March 04, 2024. 

A day prior to the opening of the issue, GPT Healthcare Ltd had raised Rs 67.20 crores from anchor investors. Investors who participated in the anchor were Neomile Growth Fund, Saint Capital Fund, Zinnia Global Fund PCC, Eminence Global Fund PCC, Craft Emerging Market Fund PCC, and Elara India Opportunities Fund. 

Fedex Securities Private Limited is the sole book-running lead manager and Cameo Corporate Services Limited is the registrar to the offer. The equity shares are proposed to be listed on the BSE and NSE.

Company Information

Mangaluru-based Mukka Proteins, manufactures fish meal, fish oil and fish soluble paste, an essential ingredient in the manufacturing of aqua feed (for fish and shrimp), poultry feed (for broiler and layer) and pet food (dog and cat food).

Mukka Proteins is one of the key players of the Fish Protein industry in India and consistently being awarded by the Marine Products Export Development Authority (MPEDA) for its export performance. In Fiscal 2023, the company contributed 25%-30% of the estimated ₹3,200 crore to ₹4,100 crore revenue of the Indian fish meal and fish oil industry, according to a CRISIL report mentioned in the RHP.

Moreover, fish oil serves various purposes, including its utilization in pharmaceuticals (particularly in extracting EPA-DHA for nutraceuticals), soap production, leather processing, and paint manufacturing. The company distributes its products within the domestic market and exports them to more than 10 countries including Bahrain, Bangladesh, Chile, Indonesia, Malaysia, Myanmar, Philippines, China, Saudi Arabia, South Korea, Oman, Taiwan and Vietnam. Additionally, the company, in partnership with its associate EPPL, has ventured into the manufacturing and sale of insect meal and insect oil. Omega-3 pills and other related products produced from fish oil are also becoming more popular as healthful and high-nutrient dietary supplements.

It has 6 (six) manufacturing facilities, of which 2 (two) are held through its Foreign Subsidiary, namely Ocean Aquatic Proteins LLC, which is based in Oman and 4 (four) are located in India. Additionally, the company runs 5 (five) storage facilities and 3 (three) blending facilities in India along strategically significant coastlines.

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

MUKKA PROTEINS LIMITED

Last updated on

29 Feb 2024 | 05:00:00 PM

Sr.No. Category No.of shares offered / reserved No. of shares bid for No. of times of total meant for the category

1 Qualified Institutional Buyers (QIBs) 1,60,00,435 1,62,09,430 1.01

1(a) Foreign Institutional Investors (FIIs) - 7,490 -

1(b) Domestic Financial Institutions(Banks/ Financial Institutions(FIs)/ Insurance Companies) - - -

1(c) Mutual Funds - - -

1(D) Others - 1,62,01,940 -

2 Non Institutional Investors(NIIS) 1,20,00,000 1,85,96,065 1.55

2.1 Non Institutional Investors(Bid amount of more than Ten Lakh Rupees) 80,00,000 56,60,835 0.71

2.1(a) Corporates - 35,845 -

2.1(b) Individuals (Other than RIIs) - 53,73,540 -

2.1(c) Others - 2,51,450 -

2.2 Non Institutional Investors(Bid amount of more than Two Lakh Rupees and upto 10 lakh rupees) 40,00,000 1,29,35,230 3.23

2.2(a) Corporates - 82,925 -

2.2(b) Individuals (Other than RIIs) - 1,24,16,280 -

2.2(c) Others - 4,36,025 -

3 Retail Individual Investors (RIIs) 2,80,00,000 10,33,93,565 3.69

3(a) Cut Off - 9,60,51,760 -

3(b) Price Bids - 73,41,805 -

4 Employee Reserved - - -

4(a) Employee (Cut off) - - -

4(b) Employee (Price) - - -

5 Reservation PortionShareholder - - -

5(a) RPS (Cut off) - - -

5(b) RPS (Price) - - -

Total 5,60,00,435 13,81,99,060 2.47

Bharat Highways InvIT IPO fully subscribed on Day 2

The Initial Public Offering of Bharat Highways InvIT was fully subscribed on the second day of bidding.

The issue received bids of 10,57,27,500 units against the offered 10,30,12,800 units, at a price band of ₹98-100, according to the data available on the stock exchanges. Overall, the Issue was subscribed 1.03 times.

Other Investors Portion was subscribed 2.24 times and Institutional Investors Portion was subscribed 0.02 times. The issue kicked off for subscription on Wednesday, February 28, 2024 and will close on Friday, March 01, 2024. 

A day prior to the opening of the issue, Bharat Highways InvIT had raised Rs 825.97 crores from anchor investors. Institutions who participated in the anchor were ICICI Prudential Mutual Fund, HDFC Mutual Fund, Kotak Mutual Fund, Quant Mutual Fund, HDFC Life Insurance, Nippon India Mutual Fund, Axis Mutual Fund, Aditya Birla Mutual Fund, UTI Mutual Fund, Max Life Insurance, Baroda BNP Mutual Fund, Reliance General Insurance and DSP Mutual Fund amongst others.

ICICI Securities Limited, Axis Capital Limited, HDFC Bank Limited and IIFL Securities Limited are the Book-running Lead Managers to the Issue and KFin Technologies Limited is the Registrar of the Offer. The Units are proposed to be listed on the BSE Limited and National Stock Exchange of India Limited.

Company Information

Bharat Highways InvIT (the “InvIT”) an infrastructure investment trust established to acquire, manage and invest in a portfolio of infrastructure assets in India and to carry on the activities of an infrastructure investment trust, as permissible under the SEBI InvIT Regulations. Its initial portfolio assets consist of seven road assets, all operating on HAM basis, in the states of Punjab, Gujarat, Andhra Pradesh, Maharashtra and Uttar Pradesh. These roads are operated and maintained pursuant to concession rights granted by the NHAI and are owned and operated by the Project SPVs, which are currently wholly owned by G R Infraprojects Limited (GRIL) (an Associate of the Investment Manager). 

Reference Table (BSE + NSE Cumulative)

  BSE + NSE Cumulative

  No. of Units Offered/Reserved No of Units Bid For No. of Times of Total Meant for the Category

Institutional Investors 56188800 1005300 0.02

Other Investors 46824000 104722200 2.24

Total 103012800 105727500 1.03

BSE Demand Link: https://www.bseindia.com/markets/publicIssues/BSEDemandSchedule_invit.aspx?Scripcode=6469

NSE Demand Link: 

https://www.nseindia.com/market-data/issue-nformation?symbol=BHINVIT&series=IV&type=Active

FanCode Signs Multi-Year Exclusive Broadcasting Deal with Formula 1®

• FanCode will become exclusive broadcast partner to Formula 1^®  streaming all race weekends in India including practice and qualifying sessions, F1 Sprint events and Grands Prix.
• Formula 1^®  and FanCode will take a digital-first approach to revolutionise the viewing experience for fans in India.

Mumbai, 29 February, 2024 : FanCode, India’s premier sports destination, will be the exclusive broadcast partner for Formula 1^® in India for the 2024 and 2025 seasons. The longest-ever F1 season, consisting of 24 races starting February 29 in Bahrain will be available to Indian fans on FanCode across multiple devices including smart TVs, mobile phones, and tablets.

FanCode’s extensive coverage of Formula 1 races will include all practice and qualifying sessions, F1 Sprint events and Grands Prix throughout the season.

FanCode’s best-in-class technical capabilities will deliver a world-class experience.  Formula 1 fans will have flexibility to choose what they want to watch, through individual race passes or a season pass to watch all the 24 races.

Speaking about it, FanCode co-founder Yannick Colaco, said: “Formula 1 is among the biggest sporting properties in the world, and we’re thrilled to partner with them to bring all the exciting action to millions of fans in India. Aside from providing F1 fans with a world class experience, we look forward to taking the sport to a wider audience across the country.”

Ian Holmes, Director of Media Rights and Content Creation at Formula 1, said: “I am delighted to announce that fans in India will be able to watch F1 on FanCode for the next two seasons. We have found a strong broadcast partner in them with expert knowledge on how we can best serve our 60 million existing fans and reach new audiences in India. Together, we will take our combined expertise to produce premium content that showcases the sporting spectacle that is F1.” 

FanCode is home to more than 100 million sports fans in India. Started in 2019, FanCode has worked with top sporting bodies and organisations from around the globe. It has previously broadcast the Hockey World Cup, ICC U19 Women’s T20 World Cup, Rugby World Cup, FIFA Women’s World Cup, FIBA Basketball World Cup and global cricket leagues like Caribbean Premier League, The Hundred, Bangladesh Premier League amongst others.

 

J.G.Chemicals Limited’s Initial Public Offering to open on Tuesday, March 5, 2024, price band set at ₹210/- to ₹221/- per Equity Share

• Price Band of ₹210/- – ₹221/- per equity share bearing face value of ₹10/- each (“Equity Shares”)

• Bid/Offer Opening Date – Tuesday, March 5, 2024 and Bid/Offer Closing Date – Thursday, March 7, 2024.

• Minimum Bid Lot is 67 Equity Shares and in multiples of 67 Equity Shares thereafter.

• The Floor Price is 21 times the face value of the Equity Share and the Cap Price is 22 times the face value of the Equity Share.

 

 

Mumbai, February 29, 2024: J.G.Chemicals Limited, India’s largest zinc oxide manufacturer in terms of production and revenue, has fixed the price band of ₹210/- to ₹221/- per Equity Share of face value ₹10/- each for its maiden initial public offer.  The Initial Public Offering (“IPO” or “Offer”) of the Company will open on Tuesday, March 5, 2024, for subscription and close on Thursday, March 7, 2024.  Investors can bid for a minimum of 67 Equity Shares and in multiples of 67 Equity Shares thereafter.

The issue consists of a fresh issue of equity shares worth Rs 1,650 million and an offer for sale (OFS) of up to 3.90 million equity shares by investor selling shareholders. 

Proceeds from the fresh issue to the extent of (A) Rs. 910.58 million will be utilised for investing in JG Chemicals’ Material Subsidiary by way of (i) Rs. 600 million for funding its long-term working capital requirements, (ii) Rs 60.58 million for setting up of a research and development centre at Naidupeta, Andhra Pradesh and (iii) Rs 250.00 million for repayment or pre-payment, in full or in part, of all or certain borrowings availed by the Material Subsidiary; (B) Rs 350.00 million will be utilised for funding the long-term working capital requirements of J.G.Chemicals Limited, and (C) general corporate purposes.

J.G. Chemicals along with its subsidiary are India’s largest zinc oxide manufacturer in terms of production and revenue through French process, with a market share of around 30% as of March 2022. It uses French process for the manufacturing zinc oxide, a dominant production technology for producing zinc oxide adopted by all the major producers in Americas, Europe and Asia. (Source: CARE Report)

It sells over 80 grades of zinc oxide and are among the top ten manufacturers of zinc oxides globally. Companies in the tyre industry in India are the largest consumers of its product. The Company also supplies to leading paints manufacturers, footwear players and cosmetics players in India.

Its product caters to a wide spectrum of industrial applications, including in the rubber (tyre & other rubber products), ceramics, paints & coatings, pharmaceuticals & cosmetics, electronics & batteries, agro-chemicals & fertilizers, speciality chemicals, lubricants, oil & gas and animal feed. 

From Fiscals 2017 to 2021, tyre production in India has grown at a CAGR of 0.32%, according to a CARE Report, whereas in the same period, the Company’s volumes have grown at a significantly higher CAGR of 13.32%. Despite the slow growth of the Company’s biggest end-use industry customer, it has been able to grow primarily on account of inter alia its long-term relationships with tyre companies which have been developed through the products it offers them; its ability to scale up production and quality systems as per the customer requirements; certainty of and on time supply of its products to its customers; and its ability offer the right quality at the right price to its customers.

Centrum Capital Limited, Emkay Global Financial Services Limited, and Keynote Financial Services Limited are the book running lead managers and KFin Technologies Limited is the registrar of the offer. The equity shares are proposed to be listed on the BSE and NSE.

Disclaimer: J.G.CHEMICALS 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 dated February 27, 2024 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., Centrum Capital Limited at www.centrum.co.in, Emkay Global Financial Services Limited at www.emkayglobal.com and Keynote Financial Services Limited at www.keynoteindia.net , 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.jgchem.com. 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 33 of the RHP. Potential investors should not rely on the DRHP for making any investment decision and should only rely on the information included in the Red Herring Prospectus.

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. 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” as defined in and in reliance on Regulation S and the applicable laws of each jurisdictions where such offers and sales are made. 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. There will be no public offering of the Equity Securities in the United States.

LISTING: The Equity Shares, offered through the Red Herring Prospectus are proposed to be listed on the Stock Exchanges. Our Company has received an ‘in-principle’ approval from the BSE Limited and the National Stock Exchange of India Limited for the listing of the Equity Shares pursuant to their respective letters, each dated March 02, 2023. For the purposes of the Offer, the Designated Stock Exchange shall be BSE Limited. A signed 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 further details of the material contracts and documents, which will be made available for inspection from the date of the Red Herring Prospectus until the Bid/Offer Closing Date, please see section titled “Material Contracts and Documents for Inspection” on page 418 of the RHP.

DISCLAIMER CLAUSE OF SECURITIES AND EXCHANGE BOARD OF INDIA (“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 343 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 346 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 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 347 of the RHP for the full text of the disclaimer clause of NSE.

Patient recovered from epilepsy struck after 12 years Mumbai doctor removed part of brain causing seizures

Mumbai - 34-year-old lady from Mumbai Smita Trivedi (Name changed) working in a small private firm and she was suffering from epilepsy for 12 years. Many times due to headache and other problems she was not able to attend her office. At the age of 22 she suffered first epilepsy attack when she was in college and due to regular epilepsy she couldn’t complete her higher studies and now Smita has been taking 6 medicines every day for the last 5 years. When her husband approached Neurosurgeon Dr. Samir Parekh from Apex Hospitals in Kandivali for how to reduce daily medicines, the doctor suggested Brain Surgery because in this case medicine wasn’t able to control epilepsy. Giving more information about this unique medical case study Neurosurgeon Dr. Samir Parekh from Apex Hospitals, Kandivali said, “This patient was in panic mode due to epilepsy and she was not able to concentrate on her job. We did neurology and neuropsychology assessments. MRI brain and EEG showed origin of fits from the left side temporal lobe of the brain. So we decided to remove the temporal lobe on the left side of the brain (temporal lobectomy and removal of amygdala and hippocampus.) This Brain Surgery lasted for 1 hour and the post-surgery patient was fully conscious and talking and moving all 4 limbs. On follow up after 3 months she is on only 2 medicines and now we have reduced dose to only one medicine which is a discreet success case in Epilepsy diseases.”

Epilepsy is a disease that affects the central nervous system of the brain. People affected by this condition suffer from abnormal brain activity that ultimately leads to seizures, lack of consciousness, and unusual behavior. It is estimated that there are around 50 million people living with epilepsy (PWE) globally. Around one-sixth of this population resides in India. Around 10–12 million people with epilepsy reside in India, added by Neurosurgeon Dr. Samir Parekh from Apex Hospitals, Kandivali. Apex Group of Hospitals is a chain of Hospitals managed and run by expert Medical Professionals with experience of 25 years. Currently Apex group of Hospitals manage more than 350+ beds and provide qualitative healthcare services to the people of Mumbai and surrounding areas. Apex Hospitals is located in Borivali, Kandivali & Mulund.

www.apexgroupofhospitals.com

Shree Karni Fabcom Limited IPO Opens on March 06, 2024

● Issue Size – 18,72,000 Equity Shares of ₹ 10 each

● Issue Size – ₹ 41.18 Crores - ₹ 42.49 Crores

● Price Band – ₹ 220 - ₹ 227

● Market Lot Size – 600 Equity Shares 

Mumbai, 29 February, 2024 – Shree Karni Fabcom Limited, one of the leading player in the manufacturing of specialized technical textiles, has announced its plan to go public with an Initial Public Offering on March 06, 2024. The company is aiming to raise ₹ 42.49 Crore on upper price band through this IPO, with shares set to be listed on the NSE Emerge platform.

The issue size is Up to 18,72,000 equity shares at face value of ₹ 10 each. 

Equity Share Allocation

● QIB Anchor Portion – Up To 5,32,800 Equity Shares 

● Qualified Institutional Buyers (QIB) – Up To 3,55,800 Equity Shares 

● Non-Institutional Investors (NII) – Up To 2,67,000 Equity Shares 

● Retail Individual Investors (RII) – Up To 6,22,800 Equity Shares 

● Market Maker – Up To 93,600 Equity Shares 

The net proceeds from the IPO will be utilized for funding capital expenditure, including the setting up of a dyeing unit in Navsari District, Surat, Gujarat, and the purchase of new machinery proposed to be installed at a new unit for manufacturing bags in Palsana, Surat, Gujarat, with the intent to expand their product portfolio. Funds will also be allocated for meeting working capital requirements of the company and meeting general corporate expenses. The bidding for the Anchor portion will open on March 05, 2024, and the issue will close on March 11, 2024.

The Book Running Lead Manager to the Issue is Horizon Management Private Limited. The Registrar to the Issue is MAS Services Limited.

Mr. Rajiv Lakhotia, Managing Director of Shree Karni Fabcom Limited expressed, “Embarking on this momentous journey of taking Shree Karni Fabcom Limited public with our IPO fills us with immense pride and excitement. Our journey has been characterized by a relentless commitment to quality and innovation in the manufacturing of specialized technical textiles.

We plan to allocate the proceeds towards funding capital expenditure, including the establishment of a state-of-the-art dyeing unit in Navsari District, Surat, Gujarat, as well as the acquisition of new machinery for our upcoming bag manufacturing unit in Palsana, Surat, Gujarat. Our commitment to excellence and innovation remains unwavering as we forge ahead in shaping the future of specialized technical textiles.”

Mr. Manav Goenka, Director of Horizon Management Private Limited said, “Entering a momentous phase in the journey for Shree Karni Fabcom Limited, this IPO signifies a remarkable leap towards new horizons. With a diversified product portfolio, the company has demonstrated its ability to meet the evolving needs of various industries. We are confident that Shree Karni Fabcom Limited's forward-thinking approach will enable it to seize emerging market opportunities and achieve continued success.”

About Shree Karni Fabcom Limited:

Shree Karni Fabcom Limited is a renowned player in the manufacturing of specialized technical textiles, serving diverse industries such as travel accessories, apparel, upholstery, and more. Their expertise spans woven, knitted, and coated fabrics, with a focus on 100% polyester materials. Operating under the brand 'SKFL', they offer a wide range of products tailored to meet various needs, from luggage and vehicle covers to medical arch supports and raincoats. With recent acquisition of a stake in IGK Technical Textile LLP, their capabilities have expanded significantly. Committed to continuous innovation, they have plans to establish a dyeing facility and diversify into bag manufacturing. Through a robust B2B model, they engage with institutional manufacturers and traders across India, ensuring the supply of top-notch technical textiles to both domestic and international markets.

In FY23, The Company Achieved a Revenue of ₹ 12,694.65 L, EBITDA of ₹ 1,519.16 L, & PAT of ₹ 555.25 L.

Disclaimer: 

Certain statements in this document that are not historical facts are forward looking statements. Such forward-looking statements are subject to certain risks and uncertainties like government actions, local, political or economic developments, technological risks, and many other factors that could cause actual results to differ materially from those contemplated by the relevant forward-looking statements. The Company will not be in any way responsible for any action taken based on such statements and undertakes no obligation to publicly update these forward-looking statements to reflect subsequent events or circumstances.

Tigers in Tadoba will get global recognition

A world record for tree planting with the support of the Miss World team

Tadoba Festival from 1st to 3rd March

Organized Festival for Wildlife Conservation and Sustainable Tourism- Minister Sudhir Mungantiwar

  Mumbai, Dt. 27: 'Tadoba Festival' is being held from March 1 to 3 at Chandrapur, which is called the tiger capital of the world. The 71st Miss World team announced their support to the state government's 'Save the Tiger' campaign in a program organized to mark the occasion. Forest Minister Sudhir Mungantiwar expressed the feeling that the festival has been organized for wildlife conservation and sustainable tourism and with Miss Universe from 112 countries declaring their support, it will create more awareness around the world about tiger conservation and conservation. He said that on the second day of this festival, the world record of planting the most trees in a single day will be established. Principal Secretary of Forest Department B. Venugopal Reddy, Head and CEO of Miss World Organization Mrs. Julia Morley, Miss World 2023 winner Carolina, Jamil Saidi were present on the occasion.

             Minister Shri. Mungantiwar said that the Tadoba-Andhari Tiger Reserve was established in 1955. Tadoba is the oldest national park in Maharashtra. The festival will be held at various locations in the Tadoba-Andhari Tiger Reserve. The Tadoba festival is a testament to our commitment to preserving our natural heritage while promoting sustainable development. The event not only highlights the importance of wildlife conservation but also the role of local communities with wildlife. By promoting tourism practices and conservation efforts, we are not only protecting our precious ecosystems but also creating opportunities for economic growth and local community empowerment, he noted. Promoting tourism, promoting industrial development all ensure protection of wildlife habitats, he said.

             In this three-day festival, various events are organized every day. In which interactive sessions are organized in the morning, panel discussions in the afternoon and cultural program in the evening. Nature Quiz. A traditional dance performance, a short film presentation and Shreya Ghoshal's song performance will be held on the inaugural day.

             On the second day of the event, there will be photography workshops, charity runs, seminars, and cultural events. The centerpiece of the program on this day is the Guinness World Record for the largest tree plantation program in the world. The festival will be replete with performances by renowned artistes like Ricky Cage and a poetry meet and other cultural events.

             On the 3rd day of the event, the participants will be treated to various events including Treasure Hunt Competition, Cyclothon, Painting Competition, Wildlife Quiz Competition and CSR Conclave. Minister Shri. Mungantiwar said

जागतिक महिला दिनाचे औचित साधून 10 मार्च 2024 दुपारी 2 ते 6 पर्यत नवक्षितिज चॅरिटेबल ट्रस्ट यांच्या वतीने गावदेवी मंदिर युनिट क्र 4 आरे कॉलनी गोरेगाव पूर्व येथे उल्लेखनीय कार्य करणाऱ्या महिलाचा नवक्षितिज नारी सन्मान पुरस्कार देऊन सत्कार करण्यात येणार आहे

प्रसिद्ध निवेदिका tv9 सौ प्रज्ञा कुलकर्णी हस्तक ( पत्रकारिता), सौ सुषमा दवडे ( सामाजिक ), सौ प्रमिला मसराम ( सामाजिक ) कु. कोमल सुभाष देवकर ( क्रीडा ), सौ संपदा अमोल झिगाडे ( कला ),सौ संगीता थोरात ( कला ), सौ नलिनी बुजड ( सामाजिक ),सौ कल्पना नाईक ( सामाजिक ), सौ निता कमलाकर डांगे ( आरोग्य ), सौ शामल देसाई (  सामाजिक )कु रसिका चंद्रकांत अवेरे ( क्रीडा ) यांना पुरस्कार देऊन गौरव गौरवण्यात  येणार आहे

 यावेळी माहिती अधिकारी कार्यकर्ता व वरिष्ठ पत्रकार अनिल गलगली, समाजसेवक व जेष्ठ वकील उच्च न्यायालय जगदीश जायले, शिवसेना उपनेते अमोल कीर्तिकर, मुंबई काँग्रेस महासचिव संदेश कोडविलकर,अभिजित राणे सरचिटणीस धडक कामगार युनियन व कामगार नेते,समाजसेवक व उद्योगपती ईश्वर रणशूर, औषधी निर्माण तज्ञ व्याख्याते डॉ. महेश अभ्यंकर, व्याख्याता व समुपददेशक रत्नप्रभा गोमासे आदि मान्यवराच्या उपस्थित पुरस्कार वितरण सोहळा पार पडला जाणार आहे

यावेळी महिलांच्या मनोरंजना करीता सन्मान नारीचा खेळ पैठणीचा रंगारग कार्यक्रम सिने- नाट्य अभिनेता सचिन कामतेकर सादर करणार आहे

 यात मोठ मोठी बक्षीसे व उपस्थित सर्व महिलांना आकर्षक भेटवस्तू दिली जाईल तरी मोठ्या संख्येत महिलांनी उपस्थित राहून जल्लोषात  जागतिक महिला दिन साजरा करावा असे  नवक्षितिज चॅरिटेबल ट्रस्टचे अध्यक्ष सुनिल कुमरे, सायली भोसले,श्रद्धा शिंदे, सुनिधी कुमरे, रेखा बिहारे, सुरेखा घुटे, संध्या मोहिते, गीता राजपूत, शारदा नादगावकर, कल्पना बिहारे यांनी कळविले आहे

Grand Exhibition from 27th to 29th February, 2024. At Bombay Exhibition Centre, Goregaon, Mumbai*

*For awareness about electrical safety*

*“Ecamex – 2024”

On the occasion of the centenary year of the Electrical Contractors Association of Maharashtra (ECAM), a grand exhibition “ECAMEX – 2024” has been organized to create awareness among consumers about electrical safety.

This exhibition is available to customers. 27, 28 & 29 February, 2024 at Bombay Exhibition Center (NESCO), Hall no. 2, Goregaon (East), Mumbai from 10 am to 6 pm for free. The exhibition was inaugurated on Tuesday. It will be held on February 27, 2024 at 10 am and on this occasion officials of manufacturing companies such as Palicab, RR Cable, Greatwhite and many organizations, power distribution and power related organizations will be present.

The main objective of the exhibition “Ecamex – 2024” is electrical safety. This exhibition has been organized keeping in mind the objective of making India free from electrical accidents, creating awareness about safety to avoid electrical accidents. Renowned manufacturers and distributors in the field of electricity from the country and abroad will participate in this exhibition and in this exhibition, lectures by different world-class experts in the field of electricity have been organized for three consecutive days. Electrical contractors, builders, consultants, engineers, builders, interior decorators, government semi-government officials, architects, consumers and students of engineering colleges will be visiting for this exhibition. Manufacturers of generators, transformers, solar, EV, UPS, stabilizers, wires, cables, switches, pipes, inverters, CTPT, poles, feeders, panels, lights, instruments, automation etc. have participated in this exhibition. Also organizations such as CREDAI, CEMA, EMA, CASMA, EMA etc. are collaborating in this exhibition. Maratha Chamber of Commerce and Industry, Udyog Association, Mahavitran, Tata Power, Adani Electric have received substantial support. As ISI, ISO manufacturers are participating in this exhibition, customers will get an opportunity to see and study the quality products.

Electrical Contractors Association of Maharashtra (ECAM) is a global organization with a renowned and glorious history spanning over 100 years. The organization is progressing day by day under the skillful leadership of the organization's President Vaman Bhure, General Secretary Devang Thakur, Vice President Umesh Rekhe, Treasurer Raosaheb Rakibe, Associate Director Maruti Mali, Narendra Shindekar, Suresh Pote, Amey Kannav, Amol Kolpakar, Prakash Jadhav and all other officials. The head office of this organization is in Mumbai and there are five thousand members of the organization. Eight departments of the organization are working in Maharashtra. It has divisional offices at Pune, Nashik, Nagar, Dhule, Nandurbar, Jalgaon, Western Maharashtra, Thane, Konkan. Work is done to solve the problems of government licensed electrical contractors and mainly electricity consumers, to create awareness among consumers about electrical safety. ECAM is constantly trying to spread the message to the general public that all electrification works should be carried out by approved electrical contractors.

Ministry of Culture names Niladri Kumar among Sangeet Natak Academi Puraskar winners for the year 2023

The Maverick Musician is receiving the award for his contribution in the field of Creative & Experimental Music

Mumbai, 28th February 2024: Indian music icon and sitar maestro Niladri Kumar has been named among winners of Sangeet Natak Academi Puraskar for the year 2023, by the Ministry of Culture and Sangeet Natak Akademi Puraskar. This is the highest national recognition given to stalwarts in the field of performing arts. Niladri Kumar had earlier won Ustad Bismillah Khan Yuva Puraskar by the Sangeet Natak Academi in 2007.

“I am very grateful to Ministry of Culture and Sangeet Natak Akademi for honouring my journey in music, and I sincerely seek blessings for the path I yet have to travel. My greatest reward is to witness my music touch the hearts of listeners from all over the world, across all these years,” says Niladri Kumar. 

Born to sitar maestro, Kartick Kumar, a disciple of Ravi Shankar and Sangeet Natak Akademi Puraskar winner, Niladri Kumar first performed on Doordarshan at the tender age of seven. He has since been breaking barriers and setting trends in Indian music. Taking forward his father’s legacy, the maverick musician has been well recognised at national as well as global forums. 

An artist, who believes in walking with the times alongside staying true to his Indian roots, Niladri Kumar has featured in jazz-guitar legend John McLaughlin’s album Floating Point. He has also toured and played with giants of world music, including tabla maestro Ustad Zakir Hussain and jazz-rock bass virtuoso Jonas Hellborg. He has also composed music for hit Bollywood numbers such as Chup Ke from Bunty Aur Babli, Crazy Kiya Re from Dhoom 2 and Bheeegi Bheegi from Gangster. A great aspiration, Niladri Kumar is truly India’s pride.

Kinetic Green Bags “Dream Company to Work for” Award and “Most Iconic HR Leader” Award at the prestigious World HRD Congress 2024

Pune, 27th February 2024: Kinetic Green, a leading manufacturer of electric vehicles in India, has been honored with the "Dream Companies to Work for – Automotive Sector" award at the prestigious World HRD Congress. The company has been recognized for its progressive policies, work-life balance initiatives, collaborative environment, social responsibility, and continuous feedback and open communication culture. In addition, Ranjit Kondeshan, CHRO, Kinetic Green Energy & Power Solutions Ltd., has been recognized with the "Most Iconic HR Leaders Award."

Ms. Sulajja Firodia Motwani, the Founder and CEO of Kinetic Green, expressed her delight at the awards, stating, "We are truly honored to be recognized as a Dream Company to Work for in the Automotive Sector. This award is a testament to our commitment to investing in our people and building a culture of inclusivity, innovation, and open communication. This recognition is a tremendous honor and a strong confirmation that our leadership and development programs are effectively aligned. It encourages us to formulate further initiatives aimed at creating a profound impact on workforce transformation."

Kinetic Green proudly stands out as an exemplary workplace, driven by its unwavering commitment to “doing good by being good”: as a purpose driven organization deeply committed to social impact, passion and innovation are at the heart of Kinetic Green’s vibrant culture. investing in its workforce and fostering a culture characterized by inclusivity, innovation, and open communication. The company has been a trailblazer in Diversity & Inclusion, nurturing an environment where prominent women leaders serve as inspirations, challenging stereotypes, and actively contributing to the organization's overall success. Kinetic Green's noteworthy pledge to maintain a 25% women workforce in the 2-wheeler assembly at its manufacturing facility near Pune underscores its steadfast dedication to gender diversity. Prioritizing Work-Life Balance & Fun at Work, the company has implemented progressive policies, including an initiative for an all-Saturday-off and encouragement of regular breaks, thereby creating a positive and supportive work atmosphere. The company's proactive adaptation of leave policies to align with changing times demonstrates a commitment to fostering a progressive work environment. Additionally, the purpose of existence was redesigned to position Kinetic Green as an "Employer at Heart," emphasizing the value and support provided to employees.

With a focus on fostering a Collaborative Environment, Kinetic Green places its trust in Cross-Functional Teams (CFTs) such as "Project GO" and "KG Warriors," showcasing effective problem-solving and teamwork. The foundation of their healthy workplace culture lies in Continuous Feedback & Open Communication, evident through their Open Door Policy, Town Hall Meetings, digitization for peer feedback via HRMS, and innovative talent management initiatives. Together, these efforts contribute to an environment characterized by transparency, trust, and collaboration, ultimately ensuring enhanced performance and satisfaction among employees.

Ranjit Kondeshan, CHRO, Kinetic Green Energy & Power Solutions Ltd., shared his thoughts on receiving the Most Iconic HR Leaders Award, "I am humbled to receive the prestigious 'Most Iconic HR Leaders Award.' This recognition reflects the entire team's hard work and dedication to creating a positive, supportive, and diverse workplace. We strive to implement innovative HR practices that contribute to the overall success of our organization. This award motivates us to continue enhancing HR technology and best practices for the benefit of our employees and the industry.”

The World HRD Congress is renowned for celebrating excellence in human resources development, bringing together the best minds and practices in the industry. The "Dream Companies to Work for – Automotive Sector" award recognizes organizations that go above and beyond to create an exceptional workplace culture.

About Kinetic Green:

Kinetic Green, the latest venture from Kinetic and Firodia Group, today is a leading player in the Electric Vehicle space, offering a wide range of electric vehicles, including electric three-wheelers, both cargo and passenger, and recently introduced electric two- wheelers under the Kinetic Green brand.  For electric golf-carts and buggies, the company has formed a Joint Venture with the world’s leading luxury brand, Tonino Lamborghini of Italy.  

Spearheaded by third generation scion of the Firodia family, Ms. Sulajja Firodia Motwani, the company has successfully designed, manufactured, and cumulatively sold over 100,000 electric vehicles and achieved sales of around ₹1200 Crores.  

The mission of Kinetic Green is to provide green mobility to the masses. Kinetic Green has had several firsts to its name, including being the first company to develop ARAI approved electric three-wheelers and the first to offer Lithium-ion battery technology in their electric three-wheelers in India. 

H.M King Charles III confers Honorary Knighthood (KBE) on Sunil Bharti Mittal for advancing India – UK business relations

New Delhi. Wednesday, Feb 28, 2024: Sunil Bharti Mittal has become the first Indian citizen to be awarded Honorary Knighthood, the Knight Commander of the Most Excellent Order of the British Empire (KBE), by King Charles III. 

The KBE is among the highest honours conferred by the British Sovereign to civilians. It is awarded in an honorary capacity to foreign nationals. 

Sunil Bharti Mittal said, “I am deeply humbled by this gracious recognition from His Majesty, King Charles. UK and India have historical relations, which are now entering a new era of increased cooperation and collaboration”

He added, “I remain committed to working towards strengthening the economic and bilateral trade relationships between our two great nations. I am thankful to the Government of UK, whose support and keen attention to the needs of business has been critical in making the country an attractive investment destination.”

In 2007, Sunil was bestowed with the Padma Bhushan, one of India’s highest civilian honours, awarded to individuals for demonstrating distinguished services of high order. 

Bharti in the UK

Bharti’s Airtel Africa was successfully listed on the London Stock Exchange in 2019, and is a constituent of the FTSE100 Index. 

Sunil successfully led the revival of OneWeb (now Eutelsat), leading a consortium with the UK Government and other strategic investors to offer satellite broadband services globally. 

Mittal, a member of the India-UK CEO Forum, has been awarded the Honorary Doctor of Civil Law from Newcastle University and an Honorary Doctor of Laws from the University of Leeds. 

He is a member of the Vice Chancellor’s Circle of Advisors at the University of Cambridge. 

Additionally, Sunil Bharti Mittal has served on the Governing Body of the London Business School (LBS) and as a Member of the India Advisory Group at London School of Economics and Political Science (LSE). 

Notes to the Editor

 

1. About The Most Excellent Order of the British Empire among the highest honours conferred by the British Sovereign to civilians.

 

a) The Order of the British Empire was established by King George V in 1917 to honour those who had served in a non-combative role and expanded the Order to reward contributions to the Arts, Sciences, Charitable work and Public Service.

 

b) Knighthood, the Knight Commander (KBE), is conferred for a pre-eminent contribution in any field of activity (usually, but not exclusively, at national level), or in a capacity recognized by peer groups as inspirational and significant nationally and demonstrates sustained commitment.

 

c) The KBE is awarded in an honorary capacity to foreign nationals. While the Knighthood conferred on UK nationals gives them the title of Sir or Dame, non UK nationals conferred with the Honour add KBE (or DBE for women) after their name instead of using titles such as Sir or Dame. Previous recipients of the Honorary KBE include Ratan Tata (2009), Ravi Shankar (2001) and Jamshed Irani (1997). 

d) Similarly, for UK citizens being conferred knighthood, the investiture ceremony is led by a Member of the Royal Family while in case of a non UK citizen, the investiture ceremony is done by the High Commissioner or Ambassador of the UK formally handing over the insignia

Platinum Industries IPO subscribed 22.22 times on Day 2

The Initial Public Offering of Platinum Industries Limited was subscribed 22.22 times on the second day of bidding.

The issue received bids of 21,40,84,467 shares against the offered 96,32,988 equity shares, at a price band of ₹162-171, according to the data available on the stock exchanges.

Non-Institutional Investors Portion was subscribed 42.88 times, Retail Portion was subscribed with 25.56 times, whereas Qualified Institutional Buyer Portion subscribed 0.90 times. The issue kicked off for subscription on Tuesday, February 27, 2024 and will close on Thursday, February 29, 2024.

A day prior to the opening of the issue, Platinum Industries Ltd had raised Rs 70.59 crores from anchor investors. Foreign and Domestic Institutions who participated in the anchor were Baring Private Equity India AIF 2, Elara India Opportunities Fund, Saint Capital Fund, Antara India Evergreen Fund Ltd, Nav Capital VCC - NAV Capital Emerging Star Fund, Astorne Capital VCC Arven, Leading Light Fund VCC - The Triumph Fund.

Leading brokerage firms like Ventura Securities, BP Wealth, AnandRathi and Hensex have given a “Subscribe” rating to Platinum Industries Ltd, given its varied and specialized product portfolio catering to diversified industries, in-house R&D capabilities and consistent financial performance. They are the third largest player of PVC stabilizer in terms of sales with an ~13.00% market share for the financial year 2022-23 in the domestic market.

Platinum is also expanding its global market reach by establishing a new manufacturing facility in Egypt and trying to increase its market share both in its domestic and global markets.

Dependence of revenue from few customers, lack of long-term arrangements and an inability to effectively utilize their expanded manufacturing capacities are pointed out as key risks of the company by the brokers.

Unistone Capital Private Limited is the sole book running lead manager and Bigshare Services Private Limited is the registrar of the offer. The equity shares are proposed to be listed on the BSE and NSE.

 

Company Information

Platinum Industries, a multi-product company engaged in the business of manufacturing stabilizers, which includes PVC stabilizers, CPVC additives and lubricants, operates in the speciality chemicals industry. Its product range serves various applications in PVC pipes, PVC profiles, PVC fittings, electrical wires and cables, SPC floor tiles, Rigid PVC foam boards, packaging materials, etc.

According to the CRISIL Report mentioned in the RHP, Platinum Industries is the third largest player of PVC stabilizer in terms of sales with an ~13.00% market share for the financial year 2022-23 in the domestic market.

The Company's has a business model aimed at consistently expanding its product portfolio by introducing new products to cater to multiple end-use applications. With a strong emphasis on product quality and a robust distributor network, the company has established a reputable brand image, facilitating penetration into new product segments.

PVC stabilizers and CPVC additives are chemical substances used in the production of polyvinyl chloride (PVC) and chlorinated polyvinyl chloride (CPVC) based products, respectively. PVC stabilizers enhance the performance and durability of PVC materials, while CPVC additives improve heat and chemical resistance, enabling CPVC to withstand higher temperatures and exposure to various chemicals and corrosive substances. Additionally, lubricants such as PE Wax and Lubpack are integral to PVC formulation, reducing friction between PVC molecules, lowering melt viscosity, and facilitating metal and mold release effects.

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

PLATINUM INDUSTRIES LIMITED Last updated on 28 Feb 2024 | 05:00:00 PM Sr.No. Category No.of shares offered / reserved No. of shares bid for No. of times of total meant for the category 1 Qualified Institutional Buyers (QIBs) 27,52,375 24,67,755 0.90 1(a) Foreign Institutional Investors (FIIs) - 4,872 - 1(b) Domestic Financial Institutions(Banks/ Financial Institutions(FIs)/ Insurance Companies) - 13,311 - 1(c) Mutual Funds - - - 1(D) Others - 24,49,572 - 2 Non Institutional Investors(NIIS) 20,64,184 8,85,15,975 42.88 2.1 Non Institutional Investors(Bid amount of more than Ten Lakh Rupees) 13,76,123 4,75,73,079 34.57 2.1(a) Corporates - 5,41,749 - 2.1(b) Individuals (Other than RIIs) - 4,22,38,935 - 2.1(c) Others - 47,92,395 - 2.2 Non Institutional Investors(Bid amount of more than Two Lakh Rupees and upto 10 lakh rupees) 6,88,061 4,09,42,896 59.50 2.2(a) Corporates - 78,213 - 2.2(b) Individuals (Other than RIIs) - 3,65,84,109 - 2.2(c) Others - 42,80,574 - 3 Retail Individual Investors (RIIs) 48,16,429 12,31,00,737 25.56 3(a) Cut Off - 10,89,15,735 - 3(b) Price Bids - 1,41,85,002 - 4 Employee Reserved - - - 4(a) Employee (Cut off) - - - 4(b) Employee (Price) - - - 5 Reservation PortionShareholder - - - 5(a) RPS (Cut off) - - - 5(b) RPS (Price) - - - Total 96,32,988 21,40,84,467 22.22