Ceigall India Limited raises Rs. 375.20 crore from Anchor Investors

Mumbai, July 31, 2024: Ceigall India Limited, an infrastructure construction company, having completed over 34 projects across ten states in India with experience in undertaking specialized structural work such as elevated roads, flyovers, bridges, railway over bridges, tunnels, highways, metros, expressways and runways, has garnered Rs. 375.20 crores from anchor investors ahead of its initial public offering that opens for public subscription on Thursday, August 1, 2024. The company informed the bourses that it allocated 93,56,581 equity shares at Rs. 401 per share on Wednesday, July 31, 2024, to anchor investors.

Foreign and Domestic Institutions who participated in the anchor were Nomura Funds Ireland Public Ltd – India Equity Fund, ICICI Prudential Flexicap Fund, HDFC Smallcap Fund, HDFC Trustee Company Ltd, Nippon Life India Smallcap Fund, Kotak Infrastructure & Economic Reform Fund, Axis Mutual Fund, Bandhan Infrastructure Fund, SBI General Insurance Company, Nataxis International Fund, Carmignac Portfolio, Goldman Sachs (Singapore) PTE- ODI, Tata Multicap Fund, Tata Dividend Yield Fund, ICICI Prudential Life Insurance Company Ltd, Bajaj Allianz Life Insurance Company Ltd, Max Life Insurance Ltd, Edelweiss Trusteeship Co. Ltd. Bank of India Manufacturing & Infrastructure Fund, Universal Sompo General Insurance Company Ltd, Hero Venture Trust, Integrated Core Strategies(Asia) PTE., Ltd. Societe Generale, Morgan Stanley Asia (Singapore) PTE., Citigroup Global Markets Mauritius Pvt. Ltd..

Out of the total allocation of 93,56,581 equity shares to the anchor investors, 50,89,727 equity shares were allocated to 9 domestic mutual funds through a total of 13 schemes amounting to Rs. 204.10 crore (approx.) i.e. 54.40% of the Total Anchor Book Size.

ICICI Securities Limited, IIFL Securities Limited, and JM Financial Limited are the book running lead managers and Link Intime India Private Limited is the registrar to the offer. The equity shares are proposed to be listed on BSE and NSE.

IPO Details

The IPO consists of fresh issue of up to Rs 6,842.52 million and an offer for sale (OFS) of up to 1,41,74,840 equity shares by Promoter Selling Shareholders and Individual Selling Shareholder.

The Company is proposing to open its initial public offering of Equity Shares (the “Offer”) on Thursday, August 1, 2024, and closes on Monday, August 5, 2024. The price band for the Offer has been determined at Rs 380 – Rs 401 per equity share.

The IPO will fetch Rs 1,252.66 crore at the upper end of the price band.

Investors can bid for a minimum of 37 equity shares and in multiples of 37 equity shares thereafter.

The Offer is being made through the Book Building Process, wherein not more than 50% of the net offer shall be available for allocation to Qualified Institutional Buyers, not less than 15% of the net offer shall be available for allocation to Non-Institutional Investors and not less than 35% of the net offer shall be available for allocation to Retail Individual Investors.

Radisson Hotel Group enhances Mumbai’s sweetscape with new Meetha by Radisson stores in Borivali and Bandra

 

Meetha by Radisson’s new store located in Borivali

Radisson Hotel Group is delighted to announce the expansion of Meetha by Radisson with the opening of two new stores in Mumbai. Building on the remarkable success of its flagship store in Goregaon, Meetha by Radisson is now set to savor sweet enthusiasts in Borivali and Bandra. This expansion is a testament to the Group’s vision of strengthening its food and beverage portfolio and driving innovation in India’s branded mithai (sweets) industry.

Meetha by Radisson is the Group’s premium offering of curated Indian sweets and is developed and conceptualized by Chef Rakesh Sethi and his exceptional team. Each sweet creation at Meetha by Radisson embodies a perfect harmony of tradition and luxury and is created using hand-picked, finest, and freshest ingredients to ensure a memorable experience. Currently, these are available for take-away or home delivery in Mumbai and Delhi NCR. 

The two new stores offer an exquisite selection of over 100 artisanal mithais, featuring delightful new additions such as Motichoor Cheesecake, Coconut Kalakand Cake, and Biscoff Kalakand. Highlights also include the indulgent Kaju Biscoff and Chocolate Biscoff creations, as well as the stuffed Medjoul Dates with four different fillings. These Moroccan premium dates are high-quality, large-size dates stuffed with innovative fillings to make them a favourite throughout seasons and festivities.

 

Meetha by Radisson’s new store located in Bandra

“Meetha by Radisson and the concept’s unique approach to mithai has received an overwhelming response from our patrons. Our expansion into Borivali and Bandra is a testament to this growing love, and we are enthused to offer these premium offerings to more customers in Mumbai. At Radisson Hotel Group, F&B continues to be a significant growth driver for us which is not only enabling guest satisfaction but also boosting revenue, reinforcing our commitment to culinary excellence,” said Nikhil Sharma, Managing Director and Area Senior Vice President, South Asia - Radisson Hotel Group.

This expansion is supported by a state-of-the-art central kitchen, which ensures the highest standards of quality and hygiene, reflecting Meetha by Radisson’s unwavering commitment to excellence. The luxurious packaging options cater to all occasions, from grand weddings to intimate corporate events, making every celebration a touch more special. The brand’s meticulous approach ensures that each piece of mithai not only meets but exceeds the highest standards of taste and presentation.

“We are delighted to extend the Meetha by Radisson experience to Borivali and Bandra,” said Rafiq Balwa, Director of Radisson Mumbai Goregaon. “Our brand seamlessly blends tradition with luxury, and we are excited to offer our premium products to a broader audience in Mumbai. The enthusiastic response to our Goregaon store has been incredibly encouraging, and we look forward to replicating that success in these new locations.”

The mithai under Meetha by Radisson is prepared and packaged following the highest standards of health and hygiene to ensure its freshness and most importantly, the safety of guests. All packs are made to order. 

###

MEDIA CONTACT:

Sonakshi Yajurvedi, Area Senior PR Manager – South Asia, Radisson Hotel Group

sonakshi.yajurvedi@radissonhotels.com

Anmol Kakkar, AvianWE

smriti@avianwe.com  | T: +91 9953181096

RADISSON HOTEL GROUP

Radisson Hotel Group is an international hotel group, operating in EMEA and APAC with over 1,380 hotels in operation and under development in +95 countries. The international hotel group is rapidly expanding with a plan to significantly grow the portfolio. The Group’s overarching brand promise is Every Moment Matters with a signature Yes I Can! service ethos.

The Radisson family of brands portfolio includes Radisson Collection, art’otel, Radisson Blu, Radisson, Radisson RED, Radisson Individuals, Park Plaza, Park Inn by Radisson, Country Inn & Suites by Radisson, and prizeotel brought together under one commercial umbrella brand Radisson Hotels. 

Radisson Rewards is Radisson Hotel Group’s loyalty program, which delivers an elevated experience that makes Every Moment Matter, counting more than 17 million members. As the most streamlined program in the sector, members enjoy exceptional advantages and can access their benefits from day one across a wide range of hotels in Europe, Middle East, Africa, and Asia Pacific.

 

Radisson Meetings provides tailored solutions for any event or meeting, including hybrid solutions placing guests and their needs at the heart of its offer. Radisson Meetings is built around three strong service commitments: Personal, Professional and Memorable, while delivering on the brilliant basics and being uniquely 100% Carbon Neutral. 

At Radisson Hotel Group we care for people, communities and planet and aim to be Net Zero by 2050 based on the approved near-term Science Based Targets. With unique solutions such as 100% carbon neutral Radisson Meetings, we make sustainable hotel stays easy. To facilitate sustainable travel choices, all our hotels are becoming verified on Hotel Sustainability Basics.

The health and safety of guests and team members remain a top priority for Radisson Hotel Group. All properties across the Group’s portfolio are subject to health and safety requirements, ensuring we always care for our guests and team members.

For more information, visit our corporate website. Or connect with Radisson Hotels on:

LinkedIn | Instagram | X | Facebook | YouTube | TikTok

RECPDCL Hands Over NERGS-I Power Transmission Limited to M/s Techno Electric & Engineering Company Limited

Gurugram, 30th July: REC Power Development and Consultancy Limited (RECPDCL), a wholly owned subsidiary of REC Limited, the Maharatna CPSU under the aegis of Ministry of Power & a leading NBFC, handed over a project specific SPV (Special Purpose Vehicle) viz, NERGS-I Power Transmission Limited to M/s Techno Electric & Engineering Company Limited, formed for establishment of new 400 kV switching station at Bokajan in Assam and LILO (loop‐in and loop‐out) of both circuits of Misa – New Mariani 400 kV D/c line at Bokajan in Assam.

M/s Techno Electric & Engineering Company Limited emerged as the Transmission Service Provider (TSP) for the scheme through Tariff-based Competitive Bidding (TBCB) process conducted by RECPDCL, the Bid Process Coordinator. 

The SPV was handed over by Shri T.S.C. Bosh, CEO, RECPDCL to Shri Dinesh Parikh, General Manager (Commercial), Techno Electric & Engineering Company Limited in the presence of senior officials of RECPDCL, Central Transmission Utility (CTU) of India Limited and Techno Electric & Engineering Company Limited.

About RECPDCL: REC Power Development and Consultancy Limited, RECPDCL, a wholly owned subsidiary of REC Limited, has been providing knowledge-based consultancy and expert project implementation services to several State power distribution companies/Power Departments of States. RECPDCL has also been implementing transmission projects in UTs of J&K and Ladakh. RECPDCL has also been acting as Bid Process Coordinator (BPC) for Inter-state as well as Intrastate transmission projects and RE-Bundling projects implemented through Tariff Based Competitive Bidding (TBCB). RECPDCL with its expert consulting, project implementation and transaction advisory services is thus playing a key role across the power sector value chain of the country.

About REC Limited: REC is a 'Maharatna' company under the administrative control of the Ministry of Power, Government of India, and is registered with RBI as Non-Banking Finance Company (NBFC), Public Financial Institution (PFI) and Infrastructure Financing Company (IFC). REC is financing the entire Power-Infrastructure sector comprising Generation, Transmission, Distribution, Renewable Energy and new technologies like Electric Vehicles, Battery Storage, Pump Storage projects, Green Hydrogen, Green Ammonia projects etc. More recently REC Limited has also diversified into the Non-Power Infrastructure sector comprising Roads & Expressways, Metro Rail, Airports, IT Communication, Social and Commercial Infrastructure (Educational Institution, Hospitals), Ports and Electro-Mechanical (E&M) works in respect of various other sectors like Steel, Refinery, etc. REC Limited provides loans of various maturities to State, Central and Private Companies for creation of infrastructure assets in the country. REC Limited continues to play a key strategic role in the flagship schemes of the Government for the power sector and has been nodal agency for Pradhan Mantri Sahaj Bijli Har Ghar Yojana (SAUBHAGAYA), Deen Dayal Upadhaya Gram Jyoti Yojana (DDUGJY), National Electricity Fund (NEF) Scheme which resulted in strengthening of last mile distribution system, 100% village electrification and household electrification in the country. REC has also been made the nodal agency for certain States and Union Territories for the Revamped Distribution Sector Scheme (RDSS). REC has also been given the responsibility of PM Surya Ghar Muft Bijli Yojna from Central Government. The loan book of REC stands at ₹ 5.30 lakh crore and Net Worth at Rs. ₹ 72,351 crore as on 30th June, 2024.

NIIT IFBI Announces ACE Banker Program in Collaboration with HDFC Bank

New Delhi, July, 29, 2024: NIIT Institute of Finance, Banking and Insurance (NIIT IFBI), a subsidiary of NIIT, today announced the launch of the “ACE Banker Program” in collaboration with HDFC Bank, India’s largest private sector bank. A key component of NIIT’s Talent Pipeline as a Service (TPaaS) initiative, this programme aims to recruit and train customer service professionals for HDFC Bank.

The ACE Banker Program is designed to address the evolving needs of the banking sector by equipping participants with the essential skills and knowledge required to excel in customer service roles at HDFC Bank. This comprehensive full-time program includes 45 days of residential training at NIIT University’s Campus. Upon completion of the course, candidates will receive a joint certificate from HDFC Bank and NIIT Limited and would be offered jobs, subject to the terms and conditions of the Program. 

Pankaj Jathar, Chief Executive Officer, NIIT Ltd., said, "At NIIT, we are dedicated to fostering skilled human capital and enriching the talent ecosystem to meet the evolving demands of the business landscape. Our strategic collaboration with HDFC Bank for the ACE Banker Program will not only address the talent needs of HDFC Bank but also unlock new employment opportunities for aspiring individuals and will contribute to the banking industry's talent pool.”

Vinay Razdan, CHRO, HDFC Bank said, “The ACE Banker Program is a positive step that will further help add to and nurture high-caliber talent in customer service. This initiative seeks to establish a robust talent pool in the customer experience domain, offering substantial career opportunities to young professionals eager to join the banking sector.” 

About the Program:

The ACE Banker Program is an opportunity for individuals aspiring to enter the dynamic and rewarding field of banking. Graduates of this exhaustive 45-day program will undergo meticulous training, acquiring the essential skills and industry insights needed to confidently pursue their desired roles in banking.

This program addresses the critical need for job-ready talent in the banking sector. Through a demanding and immersive curriculum, participants will gain indispensable expertise in customer service and banking operations, equipping them to embark on successful and fulfilling careers.

The ACE Banker Program offers a distinctive residential learning experience that emphasizes collaboration, practical application and teamwork. Participants will attain a profound understanding of key banking concepts through:

• Interactive Classroom Sessions: Engaging lectures and discussions led by industry experts.

• Practical Exercises and Simulations: Real-world scenarios and simulations to apply theoretical knowledge.

• Team-Building Activities: Collaborative projects and activities to foster teamwork and leadership skills.

An immersive environment in the classroom ensures that participants develop the proficiency, confidence and acumen necessary to excel in real-world banking settings.

Click here for further details and enrollment inquiries.

About NIIT Limited 

The NIIT Group is a leading digital talent development organization and a leading provider of managed training services that is engaged in building skilled human capital and enhancing workforce talent worldwide. Set up in 1981 to help the nascent IT industry overcome its human resource challenges, NIIT Group ranks amongst the world's leading training organizations owing to its vast and comprehensive array of talent development programs. With a footprint in over 30 countries, NIIT Group delivers learning interventions that create superior outcomes. The group comprises NIIT Limited (NIIT) and NIIT Learning Systems Limited (NIIT MTS). 

NIIT Institute of Finance Banking and Insurance (NIIT IFBI) is the preferred training partner for the BFSI (Banking, Financial Services, and Insurance) sector offering standard as well as customized training solutions targeted at Banks, Insurance Companies, Financial Services Organizations, and IT/TES organizations. For more details, please visit www.ifbi.com. 

Airtel re-farms its mid-band spectrum to meet the exponential growth in 5G traffic

 Successfully pilots seamless SA and NSA switch on its 5G network in select few circles

Smartphone Original Equipment Manufacturers (OEMs) to push the NSA and SA combined binaries with carrier aggregation functionality

Mumbai, July 29, 2024: Bharti Airtel (“Airtel”), one of India’s leading telecommunications services providers, today, announced that it has started re-farming its existing mid-band spectrum to accommodate the growing traffic demand on its 5G network. With more customers moving to the 5G network, Airtel is re-farming its mid-band spectrum to expand 5G services on its 1800, 2100, 2300 MHz bands across the country.

As a result of the use of the mid-band spectrum, customers can enjoy enhanced browsing speeds in addition to improved indoor coverage. As data demand grows, Airtel is re-farming its existing spectrum at a faster pace to provide its customers with a brilliant 5G experience.

“Randeep Sekhon, CTO, Bharti Airtel said, “As more customers pivot to our 5G services, we have re-farmed our mid band spectrum which was being used for 4G services. With this we are also ready to launch Stand-alone technology. This will mean that the Airtel network will be the first network in India to run on both stand-alone and non-standalone modes allowing us to deliver the best experience in the market.”

The pilot on the SA and NSA switch has been conducted in Rewari, Chennai and Bhubaneswar and the results have been encouraging. This capability on the 5G network will enable Airtel to introduce new innovative applications, services and solutions through open APIs, differentiated connectivity and service-based architecture. 

In the last one year, Airtel has demonstrated the power of 5G with a host of powerful use cases that have changed the way customers lead their lives and do business. Airtel’s 5G roll-out has been one of the fastest in the country and is now available across all 28 states and 8 union territories.

About Bharti Airtel Limited

Headquartered in India, Airtel is a global communications solutions provider with over 550 million customers in 17 countries across South Asia and Africa. The company ranks amongst the top three mobile operators globally and its networks cover over two billion people. Airtel is India’s largest integrated communications solutions provider and the second largest mobile operator in Africa. Airtel’s retail portfolio includes high speed 4G/4.5G mobile broadband, Airtel Xstream Fiber that promises speeds up to 1 Gbps with convergence across linear and on-demand entertainment, streaming services spanning music and video, digital payments and financial services. For enterprise customers, Airtel offers a gamut of solutions that includes secure connectivity, cloud and data centre services, cyber security, IoT, Ad Tech and cloud based communication. For more details visit www.airtel.com 

 

Bollywood’s newest action hero & KILL actor Lakshya all set to shine at IFFM*

Bollywood’s rising star, Lakshya, is set to make his mark on the international stage once again. 

Hot off the headlines he’s been making for his smouldering performance in KILL, Bollywood’s newest action hero and “it” boy Lakshya has been invited to attend the 15th edition of the Indian Film Festival of Melbourne to be held in Australia from August 15th. 

Joining him at the prestigious event will be a galaxy of stars, including Telugu superstar Ram Charan, maestro AR Rahman and renowned filmmakers like Karan Johar and Rajkumar Hiran, Imtiaz Ali among others. 

Known for his electrifying performance in KILL, Lakshya has quickly become a fan favourite and will also be presenting an award at the IFFM Awards Night.

Truly you deserve national award" Says a fan while praising Kartik Aaryan in Chandu Champion!

Kartik Aaryan truly won hearts with his outstanding performance in Chandu Champion. Playing the role of Murlikant Petkar, he literally brought the character to life, achieving a shocking transformation through his dedication and hard work. The actor's performance is truly worthy of a National Award. This is evident as a fan praised the film and Kartik's performance, calling him a worthy National Award winner.

Kartik Aaryan took to his social media and reposted a fans post in which he shared a poster of Chandu Champion and jotted down the caption - 

"A movie that really deserves lots of love and @kartikaaryan you are the most finest actor ever seen recreating the legendar biopic. truly you deserve national award Immense pleasure and the tears I can't stop"

To this, Kartik replied - "🙏🏻🙏🏻"

https://www.instagram.com/stories/kartikaaryan/3422118611810353088?utm_source=ig_story_item_share&igsh=MWMzazIybGhibWl4Zw==

Moreover, Veteran actor Shatrughan Sinha is very impressed with Kartik Aaryan's performance in Chandu Champion. In an interview, he was seen saying Kartik should be awarded a National Award for his performance. He added, "He should get all the awards for this including the National award." 

Meanwhile, Kartik who is just off the success of Chandu Champion, has a string of big releases that he is waiting for – starting with Diwali release Bhool Bhulaiyaa 3 and then news is he will jump to Pati Patni Aur Woh 2 and Anurag Basu’s musical love story.

Ola Electric Mobility Limited’s Initial Public Offering to open on Friday, August 2, 2024, price band set at ₹72/- to ₹76/- per Equity Share

Mumbai, July 29, 2024: Bengaluru-based Ola Electric Mobility Limited, a pure EV player in India building vertically integrated technology and manufacturing capabilities for EVs and EV components, has fixed the price band of ₹72/- to ₹76/- 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 Friday, August 2, 2024, for subscription and close on Tuesday, August 6, 2024. Investors can bid for a minimum of 197 Equity Shares and in multiples of 197 Equity Shares thereafter.

The IPO consists of fresh issue of up to Rs 55,000 million and an offer for sale (OFS) of up to 84,941,997 equity shares by Promoter Selling Shareholders and Investor Selling Shareholder. The offer also includes a reservation for eligible employees.

The proceeds from the fresh issue, to the extent of Rs 12,276.41 million will be used for capital expenditure incurred by the Subsidiary, OCT for the Project; Rs 8,000 million for repayment or pre-payment, in full or part, of the indebtedness incurred by the Subsidiary, OCT; Rs 16,000 million for investment into research and product development; Rs 3,500 million for expenditure to be incurred for organic growth initiatives and general corporate purposes.

Ola Electric manufactures EVs and certain core EV components like battery packs, motors and vehicle frames at the Ola Futurefactory. Its business focuses on capturing the opportunity arising out of electrification of mobility in India and also to export its EVs in select international markets in the future. It commenced the delivery of its first EV model, the Ola S1 Pro, in December 2021, followed by delivery of Ola S1 in September 2022, the Ola S1 Air in August 2023 and the Ola S1 X+ in December 2023. 

Within nine months of delivering its first EV scooter in December 2021, it became the best-selling E2W brand in India in terms of monthly E2W registrations on the VAHAN Portal of Ministry of Road Transport and Highways (“VAHAN”) according to the Redseer Report.

Ola's business model comprises of its R&D and technology platform with in-house design and development across EV technologies and components, adaptable manufacturing and supply chain platform, and D2C omnichannel distribution platform. Its model is vertically integrated across R&D and technology, manufacturing, supply chain, sales and service, and charging facilities.

The current EV scooter Generation 2 platform is the base for the Ola S1 scooter models – Ola S1 Pro, Ola S1 Air, Ola S1 X+, Ola S1 X (2 kWh) and Ola S1 X (3 kWh). It plans to replicate the platform approach for its recently announced motorcycle range which comprises four models – Diamondhead, Adventure, Roadster and Cruiser.

Ola has a Futurefactory, Gigafactory and a Battery Innovation Centre in Bengaluru, whereas it is in the process of building its EV hub in Krishnagiri and Dharmapuri districts in Tamil Nadu.

Kotak Mahindra Capital Company Limited, Citigroup Global Markets India Private Limited, BofA Securities India Limited, Goldman Sachs (India) Securities Private Limited, Axis Capital Limited, ICICI Securities Limited, SBI Capital Markets Limited, and BOB Capital Markets Limited are the book running lead managers and Link Intime India Private Limited is the registrar to the offer. The equity shares are proposed to be listed on BSE and NSE.

The Offer is being made through the Book Building Process, wherein not less than 75% of the net offer shall be available for allocation to Qualified Institutional Buyers, not more than 15% of the net offer shall be available for allocation to Non-Institutional Bidders and not more than 10% of the net offer shall be available for allocation to Retail Individual Bidders.

Notes for Reference: 

Issue Size of the IPO based on the upper and lower end of the price band

Fresh (Rs 5,500 crore)  OFS (84,941,997 equity shares) Total 

Lower Band (@Rs 72) Rs 5,500 crore Rs 611.58 crore Rs 6,111.58 crore

Upper Band (@Rs 76) Rs 5,500 crore Rs 645.56 crore Rs 6,145.56 crore

Ceigall India Limited’s Initial Public Offering to open on Thursday, August 1, 2024, price band set at ₹380/- to ₹401/- per Equity Share

Mumbai, July 29, 2024: Ceigall India Limited, an infrastructure construction company, having completed over 34 projects across ten states in India with experience in undertaking specialized structural work such as elevated roads, flyovers, bridges, railway over bridges, tunnels, highways, metros, expressways and runways, has fixed the price band of ₹380/- to ₹401/- per Equity Share of face value ₹5/- each for its maiden initial public offer. The Initial Public Offering (“IPO” or “Offer”) of the Company will open on Thursday, August 1, 2024, for subscription and close on Monday, August 5, 2024. Investors can bid for a minimum of 37 Equity Shares and in multiples of 37 Equity Shares thereafter.

The IPO consists of fresh issue of up to Rs 6,842.52 million and an offer for sale (OFS) of up to 1,41,74,840 equity shares by Promoter Selling Shareholders and Individual Selling Shareholder.

The proceeds from the fresh issue, to the extent of Rs 997.89 million will be used for purchase of equipment; Rs 4,134 million for repayment/ prepayment, in full or in part, of certain borrowings availed by the Company and its Subsidiary, CIPPL; and General corporate purposes.

Ceigall India is one of the fastest growing engineering, procurement and construction (“EPC”) company in terms of three-year revenue CAGR as of Fiscal 2024, among the companies with a turnover of over ₹ 10,000 million in Fiscal 2024 with over 20 years of experience in the industry. The Company has one of the highest year-on-year revenue growth of approximately 43.10% in Fiscal 2024 among its peers. 

The Company has grown at a CAGR of 50.13% between Fiscals 2022 to 2024. Over the last two decades, the Company has transitioned from a small construction company to an established EPC player, demonstrating expertise in the design and construction of various road and highway projects including specialised structures across 10 states in India, according to a CARE Report.

The Ludhiana-based Company's principal business operations are broadly divided into EPC projects and hybrid annuity model (“HAM”) projects, spread across over ten states in India. As on June 30, 2024, the Company's Order Book was ₹ 94,708.42 million. 

The Company has completed over 34 projects, including 16 EPC, one HAM, five O&M and 12 Item Rate Projects, in the roads and highways sector. Currently, it has 18 ongoing projects, including 13 EPC projects and five HAM projects which includes elevated corridors, bridges, flyovers, rail over-bridges, tunnels, expressway, runway, metro projects and multi-lane highways.

Ceigall India’s revenue from operations increased significantly by 46.48% from ₹ 20,681.68 million in the Fiscal 2023 to ₹ 30,293.52 million in the Fiscal 2024, primarily driven by increase in revenue from construction contracts, and revenue from sale of goods and materials and Finance income on financial assets carried on amortised cost, while the company recorded a significant increase in its profit for the year by ₹ 1,672.72 million in the Fiscal 2023 to ₹ 3,043.07 million in the Fiscal 2024.

ICICI Securities Limited, IIFL Securities Limited, and JM Financial Limited are the book running lead managers and Link Intime India Private Limited is the registrar to the offer. The equity shares are proposed to be listed on BSE and NSE.

The Offer is being made through the Book Building Process, wherein not more than 50% of the net offer shall be available for allocation to Qualified Institutional Buyers, not less than 15% of the net offer shall be available for allocation to Non-Institutional Investors and not less than 35% of the net offer shall be available for allocation to Retail Individual Investors.

Notes for Reference: 

Issue Size of the IPO based on the upper and lower end of the price band

Fresh (Rs 684.25 crore)  OFS (1,41,74,840 equity shares) Total 

Lower Band (@Rs 380) Rs 684.25 crore Rs 538.64 crore Rs 1,222.89 crore

Upper Band (@Rs 401) Rs 684.25 crore Rs 568.41 crore Rs 1,252.66 crore

HONOR launches HONOR 200 Series in India, redefines mobile imaging with AI-powered Studio-level Portrait Photography

 

Features DXO Mark Gold-certified 6.78-inch Eye Comfort Display, pro-grade portrait photography with HONOR AI Portrait Engine co-engineered with Studio Harcourt, and enhanced performance with Second-Generation Silicon-Carbon Battery

New Delhi, 18th July 2024: HONOR, expanding its portfolio in the Indian market, today announced the launch of HONOR 200 Series, the latest addition to its esteemed Number Series lineup. Comprising the HONOR 200 Pro 5G and HONOR 200 5G, this new series pushes the boundaries of power and creativity, delivering a top-notch experience to consumers with groundbreaking AI-powered portrait capabilities, immersive displays, robust hardware performance, and intuitive user-centric AI experiences. 

HONOR 200 Pro 5G will be available in two beautiful colors Ocean Cyan and Black and will be priced at INR 57,999. Sale will start from 20th July 12:00 midnight across Amazon.in, brand website - explorehonor.com and mainline stores near you.  During the Amazon Prime days, From 20th July to 23rd July, the smartphone can be grabbed with an instant discount of INR 8000 for all customers. In addition, ICICI bank and SBI Bank Credit card holders can avail a discount of INR 3000. Additionally, customers can avail free HONOR gifts worth 8,499 in few selected mainline stores or can avail an instant coupon discount of INR 2000 instead. 

HONOR 200 5G will also be available in two color options - Moonlight White and Black in two variants. The 12GB+512GB will be priced at INR 39,999 and 8GB+256 GB will be priced at 34,999. Sale starting 20th July 12:00 midnight across Amazon.in, brand website - explorehonor.com and mainline stores near you. During the Amazon Prime days From 20th July to 23rd July, the smartphone can be grabbed with an instant discount of INR 1000 coupled with bank offers of INR 2000. Additionally, customers can avail free HONOR gifts worth 8,499 in few selected mainline stores or can avail an instant coupon discount of INR 2000. With exciting offers, the HONOR 200 5G (8GB +256GB) variant can be availed starting INR 29,999* on 20th and 21st July.

Strengthening the commitment towards building a trusted and reliable brand, HONOR is also providing the following service offers for customers -  

• One -time ADLD within 6 Months from Date of Purchase

• Assured Buyback up to 90% ex GST Valid 30 days from date of invoice

• 6 months Extended Warranty

• 18 months of door-to-door service

• 3 months of cyber security cover (upto 50,000) for the first time in the industry 

Not only this, the HONOR 200 series will be available at zero down payment. Other affordability options like NCEMI is also available.  In addition, original 100W HONOR chargers will also be available for purchase across Amazon.in, brand website - explorehonor.com and mainline stores near you. 

Poised to become the go-to choice for users seeking top-notch performance, AI capabilities, and elegant design, the HONOR 200 series excels in photography with a triple-camera system: a 50MP Portrait Main Camera, 50MP Portrait Telephoto Camera, 12MP ultra-wide lens, and a 50MP Portrait Selfie Camera. The series elevates portrait photography with its AI-enhanced HONOR AI Portrait Engine, developed in collaboration with Studio Harcourt. This technology integrates Harcourt’s lighting and shadow techniques for studio-level portraits, assessing lighting, skin tone, color temperatures, and scene composition for ideal exposure settings. 

Both devices feature AI-powered eye-comfort and AMOLED Quad Curved Displays and runs on MagicOS 8.0 (Android 14) with HONOR's MagicLM AI, the series ensures seamless performance with Snapdragon 8s Gen 3 on the HONOR 200 Pro and Snapdragon 7 Gen 3 on the HONOR 200. The HONOR 200 series also includes a second-generation 5200mAh Silicon-carbon battery, offering exceptional battery life and reliable performance even in challenging conditions.

To maximize productivity, the HONOR 200 series features lightning-fast 100W Wired HONOR SuperCharge, charging the HONOR 200 Pro in just 41 minutes. The Pro variant also offers 66W Wireless HONOR SuperCharge, ensuring uninterrupted online gaming and immersive video streaming without battery concerns.

Commenting on the launch, Mr. CP Khandelwal, Joint Managing Director, HTech said, “The launch of the HONOR 200 series marks a significant milestone in our journey to redefine the smartphone experience in India. With its cutting-edge AI-powered portrait photography, superior display technology and performance capabilities, the HONOR 200 series is poised to set new benchmarks in the industry. We are committed to delivering innovative products that not only meet but exceed our customers' expectations, and the HONOR 200 series exemplifies this commitment. We are excited to bring these groundbreaking devices to the Indian market and look forward to the transformative impact they will have on our users' lives."

Telangana-based Standard Glass Lining Technology Limited files DRHP for IPO

Telangana-based Standard Glass Lining Technology Limited, one of the top five specialised engineering equipment manufacturer for pharmaceutical and chemical sectors in India, in terms of revenue in Fiscal 2024, has filed its draft red herring prospectus (DRHP) with capital market regulator Securities and Exchange Board of India (SEBI) to mop up funds through an initial public offering (IPO). 

The IPO, with a face value of ₹10 each, is a mix of fresh issuance of Rs 250 crore and an offer for sale of up to 18.44 million equity shares by promoters and Other Selling Shareholders. 

The offer for sale consists of up to 5.20 million equity shares by M/s S2 Engineering Services, up to 4.90 million equity shares by Kandula Ramakrishna, up to 4.13 million equity shares by Kandula Krishna Veni, up to 7.65 lakh by Nageswara Rao Kandula, up to 5.04 lakh equity shares by M/s Standard Holdings, up to 5 lakh equity shares by Katragadda Venkata Ramani, 3.50 lakh equity shares by Venkata Siva Prasad Katragadda, up to 4.50 lakh equity shares by Venkata Sandeep Gopineedi, up to 3.50 lakh equity shares by Mahitha Katragadda, up to 3.50 lakh equity shares by Katragadda Harini.

The company, in consultation with the book-running lead managers, may consider an issue of specified securities, aggregating to Rs 50 crores as Pre-IPO placement shall not exceed 20% of the size of the fresh issue. If such placement is completed, the fresh issue size will be reduced.  

The offer is being made through the book-building process, wherein not more than 50% of the offer shall be available for allocation on a proportionate basis to qualified institutional buyers, not less than 15% of the offer shall be available for allocation to non-institutional bidders, and not less than 35% of the offer shall be available for allocation to retail individual bidders.

The proceeds from its fresh issuance to the extent of Rs 10 crore will be utilized for funding of capital expenditure requirements of our Company towards purchase of machinery and equipment; Rs 130 crore for repayment or prepayment, in full or in part, of all or a portion of certain outstanding borrowings availed by the Company and investment in its wholly owned Material Subsidiary, S2 Engineering Industry Private Limited, for Repayment or prepayment, in full or in part, of all or a portion of certain Outstanding borrowings availed by S2 Engineering Industry Private Limited, from banks and financial institutions; Rs 30 crore for Investment in its wholly owned Material Subsidiary, S2 Engineering Industry Private Limited, for funding its capital expenditure requirements towards purchase of machinery and equipment; Rs 20 crore for funding inorganic growth through strategic investments and/or acquisitions; and general corporate purposes.

Standard Glass Lining Technology offers comprehensive solutions that encompass design, engineering, manufacturing, assembly, installation, and commissioning, as well as establishing standard operating procedures for pharmaceutical and chemical manufacturers on a turnkey basis. 

Its product portfolio includes essential equipment used in the production of pharmaceutical and chemical products, categorized into Reaction Systems; Storage, Separation and Drying Systems; and Plant, Engineering and Services. As of March 31, 2024, the portfolio consisted of more than 65 products and offerings. Over the last decade, it has delivered more than 11,000 products.

According to the DRHP, the company ranks among India’s top three manufacturers of specialized engineering equipment made from glass-lined, stainless steel, and nickel alloy based on revenue in Fiscal 2024. Additionally, it is one of the top three suppliers of polytetrafluoroethylene (PTFE) lined pipelines and fittings in India for the same period. Over the past three fiscal years, it has been the fastest-growing company in its industry in terms of revenue. 

The company has  443 customers , including end-users in the pharmaceutical, chemical, paint, biotechnology, and food and beverage sectors. As of June 30, 2024, their notable customers include 30 out of approximately 80 pharmaceutical and chemical companies in the NSE 500 index. Some of its pharma clients include the likes of Aurobindo Pharma Limited, Cadila Pharmaceutical Limited, Deccan Fine Chemicals (India) Private Limited, Laurus Labs Limited, Granules India Limited, Macleods Pharmaceuticals Limited, Natco Pharma Limited, Piramal Pharma Limited, Suven Pharmaceuticals Limited, and Tagros Chemicals India Private Limited.

The company has entered into an agreement with HHV Pumps Private Limited (“HHV”), for supply of vacuum pumps along with a private label arrangement. It also has a supply and purchase arrangement for India with Japan based Asahi Glassplant Inc. and GL Hakko Co. Ltd (“GL Hakko”) for procurement of specified grades of glass for its glass lining division. 

Standard Glass Lining Technology's revenue from operations increased by 9.26% from ₹497.59 crore in fiscal 2023 to ₹543.67 crore in fiscal 2024, primarily due to an increase in overall quantity of products sold; increase in sale prices of its products; increase in sale of services and comprehensive maintenance contracts; Profit after tax increased by 12.33% from ₹ 53.42 crore in fiscal 2023 to ₹ 60.01 crore in fiscal 2024.

IIFL Securities Limited and Motilal Oswal Investment Advisors 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 BSE and NSE.

REC DECLARES 1ST INTERIM DIVIDEND OF ₹ 3.50 PER SHARE

HIGHEST 1ST QUARTER PROFIT OF RS. 3,442 CRORES

Delhi, 27th July 2024: The Board of Directors of REC Limited, today approved the limited reviewed standalone and consolidated financial results for the quarter ended 30th June 2024. 

 

Operational and Financial Highlights: Q1 FY25 vs Q1 FY24 (Standalone)

 Total sanctions: ₹ 1,12,791 crore vs. ₹ 90,797 crore, up 24%, of which sanctions to renewable sector: ₹ 39,655 crore vs. ₹ 24,985 crore, up 59%

 Disbursements: ₹ 43,652 crore vs. ₹ 34,133 crore, up 28%, of which disbursements to renewables constituted major component with YoY increase of 249%

 Revenue from operations: ₹ 13,023 crore vs. ₹ 10,976 crores, up 19%

 Total income: ₹ 13,037 crore vs. ₹ 10,981 crores, up 19%

 Net interest income: ₹ 4,713 crore vs. ₹ 3,612 crore, up 30%

 Net Profit: ₹ 3,442 crore vs. ₹ 2,961 crore, up 16%

 Yield: 9.99% vs. 9.82%, up 17 bps

 Average cost of funds: 7.05% vs. 7.23%, reduction by 18 bps

 Spread: 2.94% vs. 2.59%, up 35 bps

 Net interest margin: 3.64% vs. 3.28%, up 36 bps

 Return on net worth: 19.51% 

 Market capitalization: ₹ 1,38,348 crore vs. ₹ 43,356, up 219% 

Owing to growth in all the verticals, resetting of interest rates on loan assets and effective management of Finance Cost, REC is able to maintain its spreads and NIMs resulting in robust quarterly profit after tax of ₹ 3,442 crore. As a result, the Earnings Per Share (EPS) for the period ended 30th June 2024 accelerated by 16% to ₹ 13.07 per share as against ₹ 11.24 per share as at 30th June 2023. 

 

The loan book has maintained its growth trajectory and has increased by 17% on sustained basis to ₹ 5.30 lakh crore as against ₹ 4.54 lakh crores as at 30th June 2023. The net credit-impaired assets as at 30th June 2024 have reduced to 0.82% from 0.97% as at 30th June 2023 with Provision Coverage Ratio of 68.48% on NPA assets, as at 30th June 2024.

Aided by growth in profits, the Net Worth has grown to ₹ 72,351 crores as on 30th June 2024, registering an increase of 19% YoY.

 

 

Indicating the ample opportunity to support the future growth, the Capital Adequacy Ratio (CRAR) of the Company stands at a comfortable 26.77% as at 30th June 2024.

 

Continuing with the tradition to reward its shareholders, the Board of Directors of the Company has declared the interim dividend of ₹ 3.50 per equity share (on face value of ₹ 10/- each).

ABOUT REC LIMITED -

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

REC Limited continues to play a key strategic role in the flagship schemes of the Government for the power sector and has been nodal agency for Pradhan Mantri Sahaj Bijli Har Ghar Yojana (SAUBHAGAYA), Deen Dayal Upadhaya Gram Jyoti Yojana (DDUGJY), National Electricity Fund (NEF) Scheme which resulted in strengthening of last mile distribution system, 100% village electrification and household electrification in the country. REC has also been made the nodal agency for certain States and Union Territories for the Revamped Distribution Sector Scheme (RDSS). REC has also been given the responsibility of PM Surya Ghar Muft Bijli Yojna from Central Government. 

Shri Manoj Mittal takes charge as Chairman and Managing Director of SIDBI

July 27, 2024:  Shri Manoj Mittal takes charge as Chairman and Managing Director (CMD) of the Small Industries Development Bank of India (SIDBI), following his appointment by the Government of India.

Shri Manoj Mittal has over 33 years of extensive experience in the Finance sector, including his previous tenures as Managing Director and CEO at Industrial Finance Corporation of India (IFCI) and Deputy Managing Director at SIDBI. 

For further information, please contact:

Divya Talwar

divya.t@conceptpr.com

+91 9920213090 Milind Jha

milind@conceptpr.com

+91 8208131051 Zaheer Chauhan

zaheer@conceptpr.com

+91 9920202720

About Small Industries Development Bank of India (SIDBI):

Small Industries Development Bank of India (SIDBI) was established on April 2, 1990, under an act of the Indian Parliament. SIDBI is mandated to serve as the Principal Financial Institution for executing the triple agenda of promotion, financing and development of the MSME sector and coordination of the functions of the various Institutions engaged in similar activities.

To know more, check out: https://www.sidbi.in 

The biggest horror comedy franchise Stree2 drops their first song: ‘Aaj Ki Raat’ featuring Tamannaah Bhatia; Song out Now!

The highly anticipated and most loved horror-comedy Stree2 is all set to make a grand comeback this Independence Day. Following the frenzy from the trailer launch, the makers have now released the film’s first song, an electrifying dance track ‘Aaj Ki Raat.’ Featuring the stunning Tamannaah Bhatia, ‘Aaj Ki Raat’ is poised to become the next big hit on the dance floor. Basanti’s dance from Sholay made history, now Shama’s ready to make waves in Chanderi with her mesmerising moves.

Sung by Madhubanti Bagchi and composed by the dynamic duo Sachin-Jigar, ‘Aaj Ki Raat’ is a vibrant,  high-energy track that will make you want to hit the dance floor instantly. And with the incredible choreography by the talented Vijay Ganguly, this sensuous song is set to become the dance anthem of the year, following the viral success of ‘Oo Antava’.

Music composers Sachin-Jigar shared their excitement, "After Kamariya and Milegi Milegi created magic for Stree, we had to go all out for 'Aaj Ki Raat' to deliver a track that’s as fun and energetic. With Tamannaah's killer moves coupled with brilliant choreography, we believe this song is going to be a crowd favourite."

The visuals are stunning, the beats are infectious, and the vibe is electric. ‘Aaj Ki Raat’ is now available on Saregama Music's YouTube channel and all other favourite streaming apps. Don't miss out!

https://bit.ly/AajKiRaat_SongOut

Jio Studios and Dinesh Vijan present ‘Stree 2’ releasing this Independence Day, directed by Amar Kaushik, produced by Dinesh Vijan and Jyoti Deshpande, A Maddock Films Production. Stree 2 hits theatres on August 15th, 2024!

Arkade Developers celebrates 38 years of creating happy spaces, launches #FamilyFirst Campaign for Mumbaikars

Mumbai, 26th July 2024: In a novel and commendable initiative, Arkade Group, a prominent real estate developer in Mumbai, has unveiled its latest campaign titled "Family First." Rooted in their core values, this campaign seeks to highlight the profound inspiration families have provided to Arkade over the years. Since 1986, the company has consistently strived to create landmarks that foster the growth and prosperity of families.

The philosophy of "Family First" stems from the fundamental values that form the bedrock of a family and its unity. Through this campaign, Arkade places utmost importance on nurturing care, affection, bonding, happiness, and trust among its esteemed customer base of over 5000 individuals.

Conceptualized by Arkade, #FamilyFirst is a comprehensive campaign spanning radio, OOH, digital, among other platforms. Within the campaign, the brand has adopted an innovative approach by utilizing CGI to promote #FamilyFirst. The CGI video showcases the numeric '1' prominently displayed in strategic city locations, symbolizing Arkade's leadership and commitment to family values.

"Through this campaign, we aim to inspire not only the people of Mumbai but also our esteemed clients, partners, bankers, architects, and most importantly, all our dedicated team members to wholeheartedly embrace a 'Family First' approach. We recognize that while the world around us may undergo constant change, the fundamental elements of warmth, love, and family remain timeless. It is with this understanding that we remain steadfast in our commitment to prioritizing families and ensuring that every Arkade project embodies a joyful and serene living space. This campaign is a heartfelt tribute to Arkade's philosophy- Family First. We firmly believe in creating 'Happy Spaces for Happy Faces' that resonate with the desires and aspirations of every family member. This dedication has been instrumental in our remarkable growth over the past 38 years," expresses Mr. Amit Jain, CMD of Arkade Group.

The campaign is now live across online and offline platforms: 

Campaign Landing Page: http://arkadefamilyfirst.com/

LinkedIn:https://www.linkedin.com/posts/arkade-group_arkadegroup-familyfirst-familyvalues-activity-7221834351154515968-qX1A/

Instagram: https://www.instagram.com/reel/C9tmo3UOj8x/?igsh=MWlud3llOGVscnM0MA==

YouTube: https://www.youtube.com/watch?v=Lo3lMArPMG4&ab_channel=Arkade

CGI Video Link: https://www.instagram.com/reel/C94AdF5C1Vz/?igsh=eTE3NjRyZDUwdzZt

About Arkade Developers: Arkade is a leading real estate developer with a legacy spanning over three decades, renowned for crafting luxurious residential and commercial properties. Building quality homes is about passion more than profession. For over three decades, this has been the working philosophy with which Mr. Mangilal Jain and Mr. Amit Jain have led Arkade to become one of the most respected real estate companies in Mumbai. Under their able leadership, Arkade has come a long way, leaving behind footprints of excellence across the length and breadth of the city. Thanks to their futuristic vision, Arkade as a brand is today synonymous with Trust, Quality, Assurance, Ethics and Transparency. Every single residential or commercial property bearing the Arkade insignia is a fine specimen of the highest standards that transcends customer expectations consistently. For more info: https://arkade.in/

Event Management Company Mach Conferences and Events Limited files DRHP for SME IPO

Delhi-based Event Management Company Mach Conferences and Events Limited providing comprehensive array of services for MICE (Meeting, Incentives, Conferences, Exhibitions) and Events sector, has filed its draft red herring prospectus (DRHP) for its initial public offering (IPO) on the SME platform of BSE Limited (BSE SME).

The IPO, with a face value of Rs 10 per equity share, is a mix of fresh issue of up to 22.29 lakh equity shares and an offer of sale up to 33.39 lakh equity shares by Promoters. The offer also includes a reservation for a subscription by market makers in the market maker reservation portion.

The Offer for Sale includes sale of equity shares up to 30.04 lakh equity shares by Amit Bhatia, and up to 3.34 lakh equity shares by Laveena Bhatia.

The issue is being made through the book-building process, wherein not more than 50% of the net offer shall be available for allocation on a proportionate basis to qualified institutional buyers, not less than 15% of the net offer shall be available for allocation to non-institutional investors, and not less than 35% of the net offer shall be available for allocation to retail individual investors.

The proceeds from its fresh issuance to the extent of Rs 33.26 crore for meeting the working capital requirement and general corporate purpose.

Mach Conferences and Events Ltd were founded under the leadership of Amit Bhatia and Laveena Bhatia, specializing in conference management, exhibition management, and global event planning. The company handles all logistical aspects of events at various destinations, including venue selection, accommodation arrangements, transportation logistics, local activities, and on-site coordination. It has a team of MICE (Meetings, Incentives, Conferences, and Exhibitions) and Events professionals dedicated to attention to detail; continuous budget control, and boundless creativity, helping clients explore new venues and innovative ways to impress their attendees.

The company provides comprehensive services for corporate meetings, conferences, trade shows, and other gatherings, ensuring seamless planning, execution, and coordination, serving clients from the Banking, Finance, and Insurance sectors, it has also worked with various other industries including hospitality, infrastructure, and FMCG. Over the past three years, Mach Conferences and Events Ltd has successfully completed 90 events in locations such as London, Mussoorie, Bangalore, South Korea, Paris, Goa, Srinagar, and Singapore. The average revenue for each event in FY 2023-24 was ₹ 263.62 lakhs.

Currently, it focuses on B2B customers, the company plans to expand into the B2C segment with the launch of a travel portal, “BookMyYatra.com,” aiming to leverage its existing customer base and broaden its market reach. Additionally, the company is looking to diversify its services into religious tourism, recognizing the blend of spirituality, economic opportunity, and cultural stewardship that makes investing in this sector both a wise business decision and a meaningful contribution to India's tourism landscape.

Mach Conferences and Events Ltd has a presence in over 18 states and union territories, including Delhi, Maharashtra, Kolkata, Assam, Tamil Nadu, Jammu & Kashmir, Himachal Pradesh, Goa, and Rajasthan.

Mach Conference’s revenue from operations increased 67.92% to Rs 237.26 crore in fiscal 2024 from Rs 141.29 crore in fiscal 2023. Profit after tax increased more than two times to Rs 26.18 crore in fiscal 2024 from Rs 8.81 crore in fiscal 2023.

Beeline Capital Advisors Private Limited is the sole book running lead manager, and Skyline Financial Services Private Limited is the registrar of the issue.

Life Insurance Corporation of India hits a new life time high of Rs 1178.60

Friday, 26 July, 2024: State-run insurer Life Insurance Corporation of India (LIC) touched a new life time high of Rs 1178.60 on BSE.

 

Prior to this, on 9th February, 2024, the stock had hit its life time high of Rs 1175 a share.

Adding to the remarkable performance, year to date, the stock has given 38.61% return much higher than the benchmark index, Sensex and Nifty which have given a return of 11.24% and 12.86% respectively. 

Surging to a new all-time high in today's trade, the company's market capitalisation reached ₹7.34 lakh crore, securing its position as the eighth-largest listed company in India and the second foremost among government-listed PSU companies after State Bank of India.

Taking the stock's current market price of ₹1,171.40 apiece, the stock is trading 21.71% higher than its IPO price. 

To be added in the body copy to the journalist Additional Information: On the other hand, on a year to date basis, Private Life Insurers like HDFC Life Insurance Company Ltd rose 6.31%, ICICI Prudential Life Insurance Company Ltd rose 32.93% and SBI Life Insurance Company Ltd rose 18.66%.

10 years of Kick : "Jacqueline just proved how great of a dancer she is" Netizens still in awe of Jacqueliene Fernandez's dance for Jumme Ki Raat

Jacqueliene Fernandez is one actress who has always created magic on the screen with her blazing dance moves. Among many peppy dance numbers, one that is really etched in our hearts is 'Jumme Ki Raat' from 'Kick'. The way she set the dance floors on fire with her infectious energy made the song a compulsory party anthem. As the film has completed 10 years since its release, netizens are still going gaga as they reminisce about how fantastic a dancer Jacqueliene is. Here's how netizens are still raving about Jacqueliene in the 'Jumme Ki Raat' song.

"Jacqueline was on fire  wearing heels."

"Jacqueline just proved how great of a dancer she is."

"With heels flips and such ease moves! Just great. "

"Jacqueline Fernandez is a wonderful dancer ️and her dance moves are also flexible."

"Jacqueline Fernandez, this song is a very powerful song Inka record Koi Nahin Tod Sakta."

"She pulled off a split in heels so smoothly and carried on with her piece."

"Honestly, Jacqueline is a very talented dancer."

"Jacqueline is a real performer .The skills she danced here were out of the movie"

Rajputana Industries Limited IPO Opens On July 30, 2024

From Left to Right

1. Mr Piyush Sharma - Group Marketing Head

2. Mr Ashok Holani - Director at Holani Consaltant Pvt Ltd

3. Mr. Shaikh Nasim - Chairman of Rajputana Industries Limited

4. Mr Shaikh Sahil - President of Rajputana Industries Limited

● Total Issue Size – Up To 62,85,000 Equity Shares of ₹ 10 each

● Issue Size – ₹ 23.88 Crores (At Upper Band) 

● Price Band – ₹ 36 to ₹38 Per Share

● Lot Size – 3,000 Equity Shares

Mumbai, July 24, 2024 – Rajputana Industries Limited has emerged as a key player in the non-ferrous metal recycling sector, offering products made from Copper, Aluminium, Brass, and alloys, has announced its plan to go public with an Initial Public Offering (IPO) on July 30, 2024, aiming to raise ₹ 23.88 Crores, with shares to be listed on the NSE Emerge platform.

The issue size is Up To 62,85,000 equity shares at a face value of ₹ 10 each.

Equity Share Allocation

● QIB Anchor Portion – Up to 16,11,000 Equity Shares

● Qualified Institutional Buyers (QIB) – Up to 10,74,000 Equity Shares

● Non-Institutional Investors (NII) – Not less than 9,00,000 Equity Shares

● Retail Individual Investors (RII) – Not less than 20,10,000 Equity Shares

● Employee Reservation – Up to 30,000 Equity Shares

● Shera Energy Limited Shareholders Reservation – Up to 3,00,000 Equity Shares

● Market Maker – Up to 3,60,000 Equity Shares

The net proceeds from the Issue are set to be utilized primarily to Funding of Working Capital Requirement of the company, Purchasing a Grid Solar Power Generating System, and General Corporate Purposes. The bidding for the Anchor portion will open on July 29, 2024, the issue will open for subscription on July 30, 2024 and closes on August 01, 2024.   

                                                                                                                      

The Lead Manager to the Issue is Holani Consultants Private Limited, The Registrar to the Issue is Bigshare services Private Limited.

Mrs. Shivani Sheikh, Chairman and Managing Director of Rajputana Industries Limited Expressed, " "We are delighted to announce our upcoming IPO on NSE Emerge Platform. The proceeds from this issue will be strategically utilized to meet our working capital needs, invest in a Grid Solar Power Generating System for sustainable power generation, and address general corporate purposes.

This IPO milestone marks an exciting new chapter for Rajputana Industries Limited. We are confident that it will enable us to fund our working capital requirements and foster sustainable growth. Our investment in solar generation will not only reduce power costs but also benefit the environment. And this IPO will enhance our visibility among stakeholders."

Mr. Ashok Holani, Director & CEO of Holani Consultants Private Limited said, "Rajputana Industries excels in transforming scrap metal into premium products, specializing in copper, aluminum, brass, and alloys. With the non-ferrous metal recycling industry on a growth trajectory, Rajputana Industries has consistently expanded by leveraging market opportunities and in-house manufacturing capabilities. 

This IPO will enhance operational efficiency and support sustainable growth, solidifying Rajputana Industries' leadership in the sector."

About Rajputana Industries Limited:

Rajputana Industries Limited, initially Rajputana Industries Private Limited, was incorporated in 2011 and became a public company in May 2023. The Company manufacture non-ferrous metal products from recycled scrap, including Copper and Aluminium items. They are expanding into cable manufacturing for construction, with a new plant in our Sikar facility costing ₹ 5.88 Crores, funded by bank borrowings and internal accruals, construction is underway and the project is expected to be operational by September 2024, with a production capacity of 13,000 Kw.

In FY24, The Company achieved a Revenue of ₹ 32,650.56 Lakhs, EBITDA of ₹ 1,815.78 Lakhs, & PAT of ₹ 512.64 Lakhs

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.

Get Ready for Smoothness and Comfort with the Kai Bikini Razor

Mumbai: KAI India, a leading name in personal grooming solutions, offers Kai Bikini Razor for Women, perfect for bidding farewell to the discomfort of waxing and embracing a new era of pain-free, effortless shaving. This lightweight and small razor are designed to effortlessly navigate every contour in the sensitive bikini area, providing unparalleled ease and comfort. KAI India is the Indian subsidiary of Japan's leading brand KAI, with over a 115-year legacy in crafting exceptional products.

Kai's Bikini Razor is designed for the female body, using Japanese precision for achieving a flawless bikini line without cuts, nicks, or irritation. Its compact and lightweight design allows for easy navigation over the sensitive curves of the bikini area, ensuring a smooth and comfortable shaving experience. What makes the Kai Bikini Razor stand out is its small head aimed at providing optimal results. With a hair-lifting baffle under the blade, this razor lifts hair without pulling, ensuring a clean and easy shave. The inclusion of an Aloe Vera Moisture Pad adds lubrication, reducing irritation and preventing redness and bumps, leaving your skin feeling soft and supple. The razor's blade is treated with PTFE technology for rust resistance and durability and is protected by a safety guard to avoid skin damage, ensuring a gentle shave with every time.

"The Kai Bikini Razor for Women is a testament to our commitment to providing comfortable personal care solutions. We recognize the importance of a pain-free grooming experience, especially during the summer season when skin tends to be more sensitive and there's more skin exposure. The Kai Bikini Razor ensures a seamless shaving experience, delivering a perfectly smooth bikini line with minimal effort," said Mr. Hitesh Singla, Marketing Head, Kai India.

Featuring a compact design and a slender handle for added convenience, the Kai Bikini Razor is both user-friendly and economically priced. Kai Bikini Razor can be purchased on www.kaiindiaonline.com and major e-commerce platforms, ensuring a grooming worry-free summer at a discounted price of Rs 199/- only. Get ready for a Summer of smoothness and comfort with the Kai Bikini Razor – your reliable partner for effortless grooming and achieving a flawless bikini line!

Streax Professional unveils the SPECTRUM Collection at its MEGA SHOW 2024 in Mumbai

 

~ With its 5th edition, the brand reaffirms its commitment towards educating salonists and beauty professionals ~

Mumbai, 22nd July, 2024 - Streax Professional, a trendsetter in professional hair care, dazzled at the 5th edition of its MEGA SHOW 2024 in Mumbai, celebrating creativity and skill in the salon industry. Held at The Lalit on July 22, 2024, this one-day extravaganza showcased cutting-edge techniques and trend-setting styles.

The MEGA SHOW 2024 was an immersive experience, providing a dynamic platform for cut, color, and style enthusiasts. The event showcased six extraordinary looks from Streax Professional’s highly anticipated SPECTRUM collection, captivating the audience with its vibrant and versatile themes. Designed to educate and inspire, the event highlighted Streax Professional’s unwavering commitment to enhancing the skills and knowledge of salon partners. It emphasized the brand’s position as a fashion-forward authority in the beauty industry. With hands-on sessions and interactive demonstrations, the event underscored the significance of education, empowering salon professionals with cutting-edge techniques and trends.

Reflecting on the event's success Rochelle Chhabra, Head at Streax Professional, said, "At Streax Professional, we view education as the cornerstone of our industry. Our flagship event, the MEGA SHOW, is dedicated to equipping the salon community with cutting-edge knowledge and skills. This premier platform provides in-depth training on the latest international trends and advanced techniques, ensuring our professionals remain at the forefront of hair fashion while celebrating exceptional talent within our community. Our focus on education ensures that international trends are translated into practical, actionable techniques for our salon community. By providing in-depth training, we help salonists adapt these global trends to their own practices, enhancing their creativity and skills.

She further added, “The 5th edition of the MEGA SHOW proudly unveils the groundbreaking SPECTRUM Collection. Building on the success of past collections like Retro Remix, Marigold, Mercurial, and Kaleidoscope, SPECTRUM showcases a stunning range of vibrant, sophisticated, and transformative colors. This collection is not just about introducing new shades; it represents our commitment to innovation and creativity, embodying individuality, confidence, and style.

Priyanka Puri, Senior Vice President, Marketing at Streax Professional, added, "Streax Professional is a trendsetter in the industry, consistently capitalizing the latest international styles. Our unique edge lies in our deep understanding of Indian hair, enabling us to adapt global trends to suit Indian hair and skin tones.

The Streax Professional MEGA SHOW series exemplifies our dedication to the salon community by showcasing the latest trends and techniques. This year, we are thrilled to introduce the SPECTRUM Collection, featuring innovative products such as Funky Colors in Blue, Green, Yellow, and Orange. Additionally, we have launched our new range of Argan Secrets Hair Color - High Lift Shades.  Each look is designed to push boundaries and reflect evolving fashion and consumer preferences. Starting in Mumbai and expanding nationwide, our goal is to inspire and engage hair stylists and salons across India with our vibrant, high-quality offerings."

 

Vipul Chudasama, Creative Director at Streax Professional, emphasized, “The SPECTRUM collection showcased at MEGA SHOW 2024 embodies the essence of modern beauty, blending innovation with artistry. It’s inspiring to see our salon partners embrace these looks with such enthusiasm and creativity.”

Following the triumph in Mumbai, Streax Professional is excited to bring MEGA SHOW 2024 to other major cities, including Delhi, Ahmedabad, Guwahati, Kolkata, and Chandigarh. Each event promises to deliver an unparalleled experience of learning and inspiration, fostering a community of highly skilled and fashion-forward salon professionals.

The MEGA SHOW 2024 will take place in the following cities:

• Delhi: August 6, 2024 

• Ahmedabad: August 13, 2024 

• Guwahati: August 27, 2024 

• Kolkata: September 3, 2024

• Chandigarh: September 10, 2024 

*** End of press release ***

About Streax Professional

Streax Professional – a brand closely associated with style and glamour in the salon business- was launched in 2004 by Hygienic Research Institute. Streax Professional is the smart choice for smart Indian stylists and consumers. Launching innovative products with well-researched formulations, especially suited to Indian hair types, Streax Professional is the forerunner in the professional segment with the widest distribution network. Streax Professional Hair colourant range (Colour, Developer and Ultralights) is on a continuous growth path and has a partnership with over 40000 salons in India and abroad.

About Hygienic Research Institute

Hygienic Research Institute Private Limited (HRIPL) is a prominent Indian leader in beauty and personal care products, specializing in hair care, skin care, and salon services. With over 60 years of legacy since 1957, HRIPL has grown from a single-brand promoter-owned entity to a multi-brand, multi-category organization backed by private equity and is known for brands like Vasmol, Streax, and Streax Professional, along with Florozone in skin care. Committed to quality, innovation, and customer satisfaction, HRIPL operates with a vision to offer excellent products and services globally while fostering growth and spreading happiness. The company boasts a robust manufacturing legacy across six locations, adhering to international quality standards. HRIPL is honored with accolades such as Great Place to Work, Best Workplace for Innovation, and recognition in the FMCG sector, underscoring its commitment to excellence in workplace culture and innovation.

Steadview Capital, ValueQuest, and Evolvence India Invest Rs 250 Crore in IPO-Bound Unimech Aerospace

Mumbai/ Bengaluru July 24, 2024: Bengaluru-based Unimech Aerospace has successfully raised Rs 250 crore from prominent investors Steadview Capital Mauritius Limited, ValueQuest Scale Fund, and Evolvence India Fund IV Ltd at a post-money valuation of Rs 3,250 crores, as a part of the Company's private placement round. Anand Rathi Advisors provided advisory services for this transaction.

Unimech Aerospace specializes in manufacturing of high precision tooling for aero-engines and airframes, along with complex high precision components, assemblies, and electro-mechanical turnkey systems for the aerospace, defence, energy, and semiconductor industries. Their advanced capabilities and commitment to quality make them a trusted partner for some of the global OEMs and Tier 1s in the industry.

Reflecting on the fundraise and its utilization, Anil Puthan, Chairman and Managing Director of Unimech Aerospace, said, "From our humble start in 2016 as a bootstrapped team of five, we've grown to over INR 200 crore in revenue with 380 employees for FY 2023-24, all without external funding. Welcoming this first round of private placement fills us with gratitude and a profound sense of responsibility. This investment will enable us to pursue both organic and inorganic growth, enhancing our Build to Print and Build to Spec solutions.”

Anil Puthan, further added," We are delighted to announce this private placement round and grateful for the support of our investors. Beyond financial support, this investment brings invaluable intellectual capital. By leveraging our investors' expertise in private and public equity, we aim to strengthen our strategies and operations. This milestone underscores our unwavering commitment to transparency, governance, and shareholder value. The funds raised from this investment will bolster Unimech's expansion efforts and strategic objectives.”

Pushkar Jauhari, MD & Head – Private Equity at ValueQuest said "We are happy to partner with Unimech. Led by capable founders, with focus on quality, strong financial metrics, and a culture of learning, we believe in Unimech’s long-term success and look forward to this partnership.”

 

Abhishek Chandra, Managing Director at Evolvence India, said, "We believe in Unimech's efficient, high-value manufacturing model. We trust the vision of the founding team, and their complementary skill set and deep domain knowledge, to fuel exponential growth. We are excited to partner with them on this journey."

 

Puneet Kumar, Managing Director at Steadview, said, “We are excited to partner with Unimech. Unimech showcases India's rise in global manufacturing with their technical expertise and ambitious yet prudent approach. The founders' journey represents a new generation of Indian entrepreneurs who combine bold ambitions with prudent business building. We believe Unimech is on a strong growth path as India secures its place in global manufacturing.”

Unimech Aerospace, looks forward to the opportunities ahead as it enters this next phase of growth, guided by its dedication to precision and innovation in the domestic and international aerospace, defense, energy and semiconductor industries.

About Unimech Aerospace

Unimech Aerospace is a key link in the global supply chain and provides high precision engineering solutions, focusing on complex manufacturing, machining, and custom product development across industries such as aerospace, energy, defense, and semiconductors. Key clients include top aerospace, energy, defence and semiconductor OEMs. With diverse capabilities, Unimech Aerospace has also established itself as an export-oriented company with a robust presence in the USA, Europe, and the United Kingdom.

 

About Anand Rathi Advisors Ltd

Anand Rathi Advisors Limited is a full-service investment bank focusing on India’s consumption story. Its services include fund raising through Private Equity, Initial Public Offerings, Qualified Institutional Placements (QIPs), Rights Issuance, Mezzanine Funding / Structured Financing solutions, and corporate advisory services including PE, M&A, buybacks, delisting, open offers, among others.

 

About ValueQuest

Founded in 2010, ValueQuest is a leading alternate investment firm with AUM of ~ INR 150 bn deployed in India across a range of public and private market portfolio strategies. ValueQuest S.C.A.L.E. Fund is a Category II Alternative Investment Fund registered with SEBI.

 

About Evolvence India

Evolvence India (EIF) is an investment management platform focused on private markets in India. The firm has a track record that spans over 17 years across multiple funds and more than $800 million invested in early to late-stage companies.

 

About Steadview

Steadview is a global investment firm with a strong focus on India, managing $2.7 billion in AUM. It has backed some of India's leading companies, including Astral, Dixon, Lenskart, Nykaa, Dream11, and Policybazaar.

 

Disclaimer:

Unimech Aerospace and Manufacturing Limited is proposing, subject to receipt of requisite approvals, market conditions and other considerations, an initial public offering of its equity shares in the near future and is in the process of filing a draft red herring prospectus with the Securities and Exchange Board of India.

Quote by Rushabh Gandhi, MD & CEO at IndiaFirst Life Insurance

Budget Reaction | 2024

This Union Budget is aimed at enhancing employment, skill development, MSMEs, and the welfare of the middle class. By raising the standard deduction and adjusting tax slabs, taxpayers under the new regime will face lower tax burdens, thus improving their disposable income, which bodes well for consumer spending.

 

The introduction of a clause pertaining to non-deductible expenses in Section 37 for life insurance companies may lead to tax litigation. The proposed hike in Capital Gain Tax is expected to impact the tax liabilities for ULIP policyholders. However, the ULIP holders purchasing policies with premium of less than 2.5 lakh p.a. can continue to avail benefits under Section 10 (10D) and are not liable to pay any tax on maturity.

 

The decrease in TDS rate from 5% to 2% on policy payouts is anticipated to boost customers' liquidity, which is a welcome move