Union Bank of India partners with Toyota Kirloskar Motor for Comprehensive Vehicle Financing Options

Mumbai – August 30, 2024: Union Bank of India today has announced signing of Memorandum of Understanding (MoU) with Toyota Kirloskar Motor to enable comprehensive and accessible vehicle financing solutions. The MoU was executed today in the presence of dignitaries from Union Bank & Toyota Kirloskar. This partnership aims to offer innovative and attractive solutions curated to meet the evolving needs of the customers.

Key highlights of the partnership:

• Enhanced affordability and accessibility: The partnership will allow customers to enjoy up to 90% financing on the on-road price of any Toyota vehicles purchased for private use, exempting them from any foreclosure or part-payment charges.

• Flexible Financing under Union Vehicle Scheme & Union Parivahan Scheme: 

 The financing options under the Union Vehicle Scheme for private vehicle will aid customers to opt for flexible tenures up to 84 months with competitive interest rates starting from 8.80% per annum.

 Financing options under the Union Parivahan Scheme for commercial vehicle will aid customers to opt for flexible tenures up to 60 months with competitive rates.

• Broad Reach and Accessibility: Union Bank’s extensive network will provide all Toyota customers with easy access to financing options nationwide.

On the occasion of signing of MoU, Mr. Arun Kumar, General Manager, Union Bank of India, observed, “As one of the largest Public Sector Banks, we are delighted to partner with Toyota Kirloskar Motor Ltd. The MoU is surely a big step towards providing financing solutions to a vast array of customers, nationwide. Union Bank of India's robust presence across India complements this partnership and we are confident that our digitized loan procedures will enable customers aspiring to purchase a new Toyota vehicle with utmost ease and convenience. Our commitment is to streamline the auto finance process, thereby enriching the customer experience in terms of both product and service.”

Speaking about the new customer initiative, Mr. Sabari Manohar, Vice President, Sales-Service-Used Car Business of Toyota Kirloskar Motor, said, "We are delighted to partner with Union Bank of India for enhancing vehicle financing options across the nation. This collaboration signifies our dedication to providing exceptional customer experience by simplifying and making vehicle financing more accessible. Our goal is to streamline financing options, offer seamless experiences, and provide timely support to make the vehicle purchase process enjoyable.

Mach Conferences and Events Limited IPO Opens On 04th September, 2024

 

● Total Issue Size – 55,68,000 Equity Shares of ₹ 10 each

● Fresh Issue - 22,29,000 Equity Shares 

● Offer For Sale - 33,39,000 Equity Shares

● Issue Size – ₹ 125.28 Crores (At Upper Band)

● Price Band – ₹ 214 - ₹ 225 Per Share

● Lot Size – 600 Equity Shares

Mumbai, August 29th, 2024 – Mach Conferences and Events Limited specializes in providing end-to-end event management solutions within the MICE industry, proposes to open its Initial Public Offering (IPO) on September 04th, 2024. The company is aiming to raise ₹ 125.28 Crores at the upper band through this IPO, with shares set to be listed on the BSE SME platform.

The Issue Size is 55,68,000 including 22,29,000 Fresh Issue equity shares and 33,39,000 Offer For Sale at face value of ₹ 10 each.

Equity Share Allocation

● QIB (including Anchor Portion) – Not more than 26,31,600 Equity Shares

● High-Net-Worth Individual (HNI) – Not less than 7,91,400 Equity Shares

● Retail Individual Investors (RII) – Not less than 18,45,000 Equity Shares

● Market Maker – 3,00,000 Equity Shares

The net proceeds from the IPO will be utilized to meet Working Capital requirements, and General Corporate Purposes. The bidding for Anchor Portion will open on September 03th, 2024, the Issue will open for subscription for all other categories from September 04th, 2024 and closes on September 06th, 2024.

The Book Running Lead Manager to the Offer is Beeline Capital Advisors Private Limited. The Registrar to the Issue is Skyline Financial Services Private Limited.

Mr. Amit Bhatia, Chairman & Managing Director of Mach Conferences and Events Limited expressed, “This IPO represents a pivotal milestone in our journey, laying the foundation for future growth and success. With over two decades of industry experience, Mach Conferences manages events on a global scale. 

Given the working capital-intensive nature of our industry, the IPO proceeds will be instrumental in meeting our Working Capital needs, enabling us to bid for larger, high-value events. This will elevate our brand recognition and value, ultimately strengthening our operations and ensuring the long-term sustainability of our company.”

About Mach Conferences and Events Limited:

Mach Conferences and Events Limited provides comprehensive event management solutions for MICE and event sector. Mach is specialized in Conference Management, Exhibition Management and Global Event Planning. This includes venue selection, accommodation arrangements, transportation logistics, local activities, and on-site coordination. Mach offers end-to-end services for corporate meetings, conferences, trade shows, and other gatherings, facilitating seamless planning, execution, and coordination. The Company’s expertise lies in crafting tailored experiences, from conceptualization to logistics, to ensure impactful events that meet their clients' objectives. Leveraging innovative design, cost-effective management, and efficient operations. Their experience ranges from arranging small corporate events to large global events. 

In FY24, The Company achieved a Revenue of ₹ 23,725.89 Lakhs, EBITDA of ₹ 3.454.01 Lakhs, & PAT of ₹ 2,618.29 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.

LIC OF INDIA HANDS OVER DIVIDEND CHEQUE TO GOI

Shri Siddhartha Mohanty, CEO & MD, LIC of India, today presented the Dividend cheque of Rs.3662.17 Crores to Honourable Smt. Nirmala Sitharaman, Union Minister of Finance and Corporate Affairs, as the Government of India’s share of Dividend, approved by the Shareholders in the Annual General Meeting held on 22.08.2024. 

Dr. M P Tangirala, Additional Secretary, GOI, Ministry of Finance, Dept of Financial Services was present along with Officials from Life Insurance Corporation of India, Shri M Jagannath ,MD, Shri Tablesh Pandey, MD, Shri Sat Pal Bhanoo, MD, Shri R Doraiswamy, MD and Shri J.P.S.Bajaj ,ZM(I/C),Northern Zone.

LIC also paid Interim Dividend of Rs. 2441.45 Crores on 1st March 2024, thus totaling to Rs. 6103.62 Crores paid as dividend to Government of India for the year 2023-24. 

LIC is completing 68 glorious years since its incorporation and as at 31.03.2024 has an asset base of over Rs.52.85 Lakh Crores. It continues to be the market leader in the Indian Life Insurance market.

Anuga Select and Anuga FoodTec 2024 Set New Standards for Innovation and Expansion

Mumbai, 29th August 2024: Koelnmesse Pvt. Ltd. heralds the grand opening of Anuga Select and Anuga FoodTec 2024, two landmark exhibitions set to redefine the standards of excellence in the food and beverage industry. From the exhilarating Day 1, these landmark exhibitions have already set an unprecedented benchmark for excellence and innovation.

With an impressive turnout of industry luminaries, trailblazers, and decision-makers, Day 1 showcased a spectacular agenda designed to drive transformative growth and pioneering advancements across the sector. For the first time, the exhibition introduced its Innovative TrendZone, highlighting three standout brands, The Misfits, Joyspoon, and Krunchillo, that were selected from 60 nominations.

Day 1 Highlights: The first day of Anuga Select and Anuga FoodTec 2024 delivered a series of impactful and comprehensive sessions, setting the stage for an exceptional event.

• Revolutionizing Business and Technology: The day showcased groundbreaking business technologies and strategies set to transform the food and beverage industry and drive growth for start-ups and MSMEs

• Empowering MSMEs with Financial Solutions: Attendees gained insights into bespoke financial products for MSMEs, highlighting how tailored banking solutions can secure funding, manage finances, and drive sustainable growth.

• Mastering Global Market Expansion: Experts shared key strategies for entering international markets, focusing on navigating global regulations and standards to achieve export success and seize global opportunities.

• Innovating Winning Products: The agenda also featured a deep dive into product innovation, revealing the secrets to creating exceptional products that meet consumer expectations and stand out in competitive markets.

The exhibitions showcased a stellar lineup of brands and country pavilions, each making a distinctive mark on the food and beverage industry. Chitale Foods earned accolades for its dedication to authentic and premium-quality products, while MDH Masala was recognized for its extensive array of high-grade spice blends. Catch Masale was celebrated for its superior spices and seasonings, and Bonanza presented an impressive range of consumer-focused products. Moisoi introduced innovative and unique food offerings, and D’lecta displayed an array of various dairy products and Bikaner Polymers demonstrated its expertise in advanced packaging solutions. The exhibition extended to international boundaries with pavilions from countries such as Brazil, Indonesia, Iran, Italy, Poland, Saudi Arabia, South Africa, South Korea, and Turkey. There were also two new launches at Anuga Select 2024 - White Coffee by Swadgram and Indian Soul. These new products are tailored to meet India’s diverse food and beverage preferences, showcasing the exhibit’s dedication to offering unique and high-quality options for every palate.

The key panel speakers present at the discussions on Day 1 were, Mr. Prashant Waghmare, DGM, APEDA, Mr. Nilesh Amritkar, National President, AFSTI Mysore, Mr. Shri Dwivedi, Joint Director (Tech), Export Inspection Council, Mr. Gnayak Varia, Managing Director, Flavorama, Shri S.G. Dwivedi, Joint Director (Tech) Export Inspection Council Mumbai, Subha Nishtala, Vice-President, AFTSI, Mysuru, Fr. Jyothi Gokhale, Hon. Secretary. AFTSI Mumbai Mr. Vivek Kookkal, Head, Dairy & Beverages, ITC Ltd, Dr. Babu Rao Guduri, Joint Director, Indian Institute of Packaging, Mr. Vikas Gupta, Global Head, R&D, TATA Consumer Products, Mr. Saibal Chandra Banerjee, Sr. Vice President, Wellness Forever and many more esteemed guests.

There were also showcases and panel discussions in the Culinary Corner by renowned chefs such as, Chef Manjit Gill, Chef Vicky Ratnani, Chef Rakhee Vaswani, Chef Mohan Krishnan, GM, Food R&D, The Savera Chennai, Chef Sabyasachi Gorai, President of Young Chefs Association of India, Chef Jerson Monterey Jack, Director of Culinary Operations, Sudexo India. They shared exclusive insights about technology and regional cuisines and about the challenge of merging tech. 

Commenting on the same, Denis Steker, Senior VP, Koelnmesse said, “Day 1 of Anuga Select and Anuga FoodTec 2024 has been a remarkable success, demonstrating the immense potential and dynamism within the food and beverage industry. The insightful sessions on business technologies, financial solutions, and global market strategies have truly set a high standard for industry events. We are proud to provide a platform where start-ups, MSMEs, and large enterprises can come together to explore new opportunities and drive innovation.”

Adding to the same, Milind Dixit, Managing Director, Koelnmesse said, “We are thrilled with the exceptional start to Anuga Select and Anuga FoodTec 2024. The first day’s agenda showcased a powerful array of topics crucial for advancing the food and beverage sector. From groundbreaking technologies to vital financial insights and global market strategies, the event has provided invaluable resources for growth and success. The diverse array of brands on display further highlights the industry’s commitment to excellence and innovation.”

As Anuga Select and Anuga FoodTec continue, they will sustain their momentum, offering high-value content, unparalleled networking opportunities, and pivotal industry insights. These exhibitions are crucial in driving innovation, collaboration, and growth within the food and beverage sector, affirming their role as the ultimate platforms for industry advancement.

About Koelnmesse – 

Koelnmesse is a worldwide trade fairs for the food industry and food production and an international leader in organizing global trade fairs for the food and beverage industry as well as for food production. With events such as Anuga, Anuga FoodTec, ISM, and ProSweets Cologne, Koelnmesse covers a wide spectrum – from ingredients to production, packaging, finished products, and the latest technologies and innovations. These globally renowned trade fairs, held in Cologne, Germany, set benchmarks in their respective sectors. In addition, Koelnmesse organizes numerous industry-specific trade fairs in key markets worldwide, including Brazil, China, India, Italy, Japan, Colombia, Thailand, and the United Arab Emirates. Through these global activities, Koelnmesse offers its clients tailored events and leading regional trade fairs across various markets, providing a foundation for sustainable international business. Koelnmesse is thus ideally positioned to drive innovation and development in both the food industry and food production.

Global Competence in Food and FoodTec: Koelnmesse is an international leader in the implementation of trade fairs for food and services and products related to food and beverage processing. Fairs like Anuga, ISM – International Sweets and Biscuits Fair and Anuga FoodTec are recognised worldwide as absolute leaders in their sectors. Koelnmesse also organises top-notch fairs in the food and beverage sector in other emerging markets around the world, such as Brazil, China, India, Italy, Japan, Thailand, the United States and the United Arab Emirates. With these global activities, Koelnmesse provides customers with a complete portfolio of professional events across different markets, ensuring a sustainable and international business network. Further information: https://anuga-india.com/  

Koelnmesse is an international leader in organising trade fairs in the field of food and beverage processing. Anuga FoodTec and ProSweets Cologne are established, world-leading trade fairs, hosted in Cologne/Germany. In addition to the events at its Cologne headquarters, Koelnmesse also stages further food technology trade fairs with different sector specific areas of focus and content in key markets across the world, including India, Italy and Colombia. These global activities enable Koelnmesse to offer its customers bespoke events and leading regional trade fairs in a variety of markets, thus creating the foundation for sustainable international business. Koelnmesse is also ideally positioned in the field of food and beverages with its leading international trade fairs Anuga and ISM and its global network of satellite events. Further information: www.anugafoodtec.com/trade-fair/industry-trade-fairs

Hope and Healing for Rare Cancer Patients

 

Apollo Hospitals Navi Mumbai Launches RareCare Clinic

Mumbai, 29 August 2024: For patients grappling with the uncertainty and fear that come with rare cancers, finding the right diagnosis and care can feel like an overwhelming challenge. At Apollo Hospitals’ RareCare Clinic, hope is now within reach. The specialized clinic, located at the Apollo Hospitals in Navi Mumbai, is dedicated to providing comprehensive, compassionate care to those facing the unique struggles of rare and challenging cancers which are often wrongly diagnosed & treated leading to poor outcomes for the patient. 

Rare cancers, though individually uncommon with an incidence of 6 in 100,000, collectively represent a significant 20% of all cancer cases. With over 200 identified types, these cancers often leave patients feeling isolated and uncertain due to the lack of available data on diagnostic processes and treatment protocols. Rare cancers include Bone and soft tissue sarcomas (Desmoid tumors), Skin cancer, Pregnancy associated cancers, Cancers in sexual minority populations (LGBTQ+ cancers), Neuroendocrine tumors (NETs), Hereditary & familial cancers, and Adolescent or young adult cancers. Challenging situations in Oncology includes Geriatric cancer with comorbidities, Immuno compromised situations, Patients with comorbities and poly pill therapies, Uncommon presentations or rare histologies of common cancers, such as breast, gynaecological, lung, gastrointestinal, and head and neck cancers.

Dr. Jyoti Bajpai, Lead - Medical & Precision Oncology, Apollo Hospitals Navi Mumbai said, "Early diagnosis is crucial with rare cancers, as they often present with symptoms that can be easily mistaken for other conditions. Having been an active member of global cancer associations like Society of Immunotherapy in Cancers (SITC), Faculty for Immuno-Oncology at European Society of Medical Oncology (ESMO) and immediate past faculty for Sarcomas as well as core committee member for Women for Oncology (W4O)-ESMO, the exposure has provided me with the expertise to diagnose & treat rare cancer types accurately, this helps in initiating the right treatment quickly leading to favorable outcomes for the patients. Our team of clinicians work closely with each patient to develop a personalized treatment plan that takes into account their unique needs and treatment goals."

Rare cancers require special attention and the dedicated RareCare Clinic brings together a multidisciplinary team, including medical and radiation oncologists, surgeons, pathologists, radiologists, genetic counsellors, and other specialists collaborate to provide comprehensive care. 

Dr. Jyoti Bajpai added, “The RareCare Clinic doesn’t just focus on treating the disease; it cares for the whole person. We recognize the profound emotional toll that a rare cancer diagnosis can have on patients and their families. That’s why we emphasize supportive care, addressing not just the physical but also the emotional and psychological needs of our patients. From pain management to nutritional counseling, from psychosocial support to survivorship programs, we are here to provide a network of care that surrounds our patients with strength, understanding, and hope.”

The symptoms of rare cancers can be elusive, Rare cancers may present as persistent issues such as a lingering cough, shortness of breath, changes in moles or skin lesions, unexplained pain, new seizures or headaches, swollen lymph nodes, frequent fevers, persistent fatigue, or unexplained weight loss. 

Dr. Anil D'Cruz, Director Oncology and Senior Consultant Head & Neck Oncology, Apollo Hospitals, said "The global incidence of cancer is increasing exponentially over the years from 12 million in 2012 to 18 million in 2018 & 19.3 million in 2020. Cancer registries in India are showing a similar trend. Apollo Cancer Centres are giving a thrust to cancer care by initiating evidence based, organ site speciality services, tumour boards backed by excellent infrastructure & clinicians of national & international standing to ensure the best outcomes for patients who come to us. The RareCare Clinic is a testament to our dedication ensuring that even the most unique and challenging cancer cases receive personalized, multidisciplinary care. We aim to transform the cancer care experience for patients and their families” 

Mr. Arunesh Punetha, Regional CEO - Western Region, Apollo Hospitals said, “We recognize the profound challenges that individuals with rare cancers face—the fear, the uncertainty, and often the sense of isolation. That’s why we’ve established this dedicated RareCare Clinic, where they will find not only the specialized expertise and advanced treatments they need but also a compassionate team that walks alongside them every step of the way. It marks a significant step forward in the fight against rare cancers in India and reflects Apollo Hospitals’ unwavering dedication to delivering world-class cancer care, with humanity and empathy at its core." 

LIC Celebrates National Sports Day- 29th August, 2024

LIC is celebrating National Sports Day to commemorate the birth anniversary of Hockey Legend Major Dhyan Chand from 26th August to 31st August, 2024.

During this period various offices of the Corporation will conduct indoor/outdoor sports activity during any one day to encourage employees to involve fitness activities in daily walks of life.

In the spirit of celebration, all employees of the Corporation will take the FIT India Fitness Pledge on 29.08.2024.

In Mumbai, LIC will organize Fit India Walkathon on 31.08.2024 and celebrate the value of living a physically active and healthy lifestyle.

 

Orient Technologies IPO debuts with 40% premium on the exchange; Hit Upper Circuit on Listing Day

Mumbai, August 28, 2024: Shares of Orient Technologies Limited debuted on the exchange listing at a 40% premium. higher than the IPO’s issue price of Rs 206. At the time of closing the stock was locked in upper circuit with only buyers with a total bid for 8,98,578 shares on NSE.

The scrip listed at Rs 290 per share on BSE, a premium of 40.7% and at Rs 288 per share on NSE, a premium of 39.81%. The company's share price closed at Rs 304.45 per share on the BSE, and at Rs 302.40 per share on the NSE.

As per NSE, the total quantity traded stood at 27.32 lakh shares, on BSE the total Quantity stood at 6.22 lakh shares. Total Turnover (BSE+NSE) on Day 1 stood at Rs 98.74 crore. 

The Market Capitalization of the Company at today’s closing price stood at Rs. 1,267.78 Crore as per BSE and Rs. 1,259.25 Crore as per NSE.

The Initial Public Offering of Orient Technologies Limited had garnered substantial interest, and the offer was subscribed 151.71 times. Qualified Institutional Buyer and Non-Institutional Investors Portion was subscribed 189.90 times and 300.60 times respectively. Retail Portion was subscribed 66.87 times.

Orient Technologies was incorporated in the year 1997. Over the years It has built deep expertise to develop products and solutions for specialised disciplines across its business verticals, such as IT Infrastructure Products and solutions; IT Enabled Services (IteS); and Cloud and Data Management Services.

The Company’s business operations involve technologically advanced solutions for which it has to collaborate with a wide range of technology partners including Dell International Services India Private Limited (Dell) and Fortinet, Inc. (Fortinet) and Nutanix Netherlands B.V. (Nutanix). 

The Mumbai based company has established a strong relationship with marquee customers such as Coal India, Mazagon Dock, D’Décor, Jyothy Labs, ACG, Integreon, Bluechip, Tradebulls, VJS Bank, VKS Bank, and Joint Commissioner of Sales Tax (GST Mahavikas), Mumbai. 

As of June 30, 2024, Orient Technologies’ Order Book stood at ₹ 101 cr.

Elara Capital (India) Private Limited is the sole book running lead manager and Link Intime India Private Limited is the registrar to the offer. 

TANISHQ AND DE BEERS FORGE STRATEGIC COLLABORATION TO BOOST INDIA’S NATURAL DIAMOND JEWELLERY MARKET

As India becomes the world’s second largest market for natural diamond jewellery, industry leaders De Beers and Tanishq unite to connect even more people to its enduring value

De Beers Group, the world’s leading diamond company, and Tanishq, India's largest jewellery retail brand from the Tata group, today announced a long-term strategic collaboration to connect more Indian consumers with the rarity and preciousness of natural diamonds and amplify the growing opportunity in the Indian market. 

With a vibrant economy, a growing middle class and discerning consumers who seek jewellery with enduring value, demand for natural diamond jewellery from Indian consumers has surged recently and now represents 11 per cent of global demand. This has seen India replace China as the second largest market in the world for natural diamond jewellery. With diamond acquisition rates in India well below those in mature markets such as the US, this provides a significant opportunity to catalyse further growth for natural diamond jewellery in India. 

To help unlock the growth opportunity, Tanishq and De Beers have agreed to come together on a long-term collaboration to enhance consumer education, interest and confidence, and to promote natural diamonds across India. Through this collaboration, the two parties will capitalise on Tanishq’s deep understanding of the Indian market built up over three decades, combined with De Beers’ expertise in the diamond category, to deepen consumer desire for and confidence in natural diamonds, underscoring their inherent value, rarity and timelessness. 

The collaboration will focus on building extensive consumer outreach, deepening capabilities of Tanishq’s retail staff to communicate about natural diamonds, educating consumers about authenticity, and shaping customer experiences as they explore their desire for natural diamonds and studded jewellery. This will also be supported by a compelling 360-degree marketing campaign to build awareness and target expanding the customer base in the country, including first time buyers.

The new collaboration builds on the existing relationship between Tanishq and De Beers, with Tanishq already using De Beers’ proprietary diamond verification technology to support the assurance of the authenticity of its products. The two parties are also in talks regarding opportunities to collaborate on traceability, how Tanishq’s diamond supply needs can best be met and further opportunities to use De Beers’ proprietary technologies to support pipeline integrity.

Sandrine Conseiller, CEO of De Beers Brands, said: “India’s love affair with diamonds has flourished over thousands of years, and we are thrilled to partner with Tanishq to unlock the full potential of this vibrant market. Like De Beers, Tanishq recognises the power, preciousness and prestige of natural diamonds and combining our expertise with their deep understanding of the Indian market, we will work together to create something special to connect more Indian consumers to these natural treasures and their enduring value.”

Ajoy Chawla, CEO, Jewellery Division, Titan Company Limited, said: “The opportunity in India for diamonds is massive, given the very low penetration of studded jewellery and the rising per capita incomes in the world’s most populous country. Tanishq has been a pioneer in democratising diamond jewellery in the market for three decades and has always targeted the modern progressive woman. Tanishq Diamonds adhere to strictest standards, with all diamonds responsibly sourced in compliance with the Kimberley Process Certification Scheme (KPCS) and the Tanishq Suppliers Engagement Protocol (TSEP). 

“We offer our own certificate of Tanishq Diamond guarantee and have the most transparent buyback policy in India, enabling trust and peace of mind for our customers. In an increasingly man-made world where virtual living is becoming the norm, people crave authentic brands, real experiences and value natural, wholesome products. All Tanishq Diamonds are natural, rare and valuable and have attracted our customers with innovative designs. The collaboration with De Beers will unlock new opportunity for both Tanishq and the diamond sector, celebrating the eternal beauty of these miracles of nature.”

- ends –

Contact

De Beers Group Press office:

Tel +44 (0) 20 7430 3434

pressoffice@debeersgroup.com

Tanishq

Tel +91 (0) 80 67046553

corpcomm@titan.co.in

About De Beers Group

Established in 1888, De Beers Group is the world’s leading diamond company with expertise in the exploration, mining, marketing and retailing of diamonds. Together with its joint venture partners, De Beers Group employs more than 20,000 people across the diamond pipeline and is the world’s largest diamond producer by value, with diamond mining operations in Botswana, Canada, Namibia and South Africa. Innovation sits at the heart of De Beers Group’s strategy as it develops a portfolio of offers that span the diamond value chain, including its jewellery houses, De Beers Jewellers and De Beers Forevermark, and other pioneering solutions such as diamond sourcing and traceability initiatives Tracr and GemFair. De Beers Group also provides leading services and technology to the diamond industry in the form of education and laboratory services via De Beers Institute of Diamonds and a wide range of diamond sorting, detection and classification technology systems via De Beers Group Ignite. De Beers Group is committed to ‘Building Forever,’ a holistic and integrated approach for creating a better future – where safety, human rights and ethical integrity continue to be paramount; where communities thrive and the environment is protected; and where there are equal opportunities for all. De Beers Group is a member of the Anglo American plc group. For further information, visit www.debeersgroup.com.

About Tanishq

Tanishq, India’s most-loved jewellery brand from the TATA Group, has been synonymous with superior craftsmanship, exclusive designs and guaranteed product quality for over two decades. It has built for itself the enviable reputation of being the only jewellery brand in the country that strives to understand the Indian woman and provide her with gold & diamond jewellery that meets her traditional and contemporary aspirations and desires. The Tanishq retail chain currently spreads across 475+ exclusive boutiques in more than 270 cities. For more information, visit www.Tanishq.co.in.

Viacation Inaugurates New Walk-In Travel Store in Ghatkopar East, Mumbai

Mumbai, 28 August 2024 - Viacation Tourism Private Limited, a leading name in India's travel solutions industry, proudly announces the opening of its first retail store in Mumbai, located in Ghatkopar East. This marks the beginning of their retail footprint in Mumbai, with more locations set to open across the country in the coming month, including in Jaipur, Chandigarh, Bengaluru, Siliguri, and Guwahati, taking Viacation's total presence to well over 10 travel stores nationwide.

The new Ghatkopar store, occupying 300 square feet, offers an extensive range of travel services, including air ticketing, escorted group tours to Europe and other international destinations, domestic holiday packages across India, and MICE (Meetings, Incentives, Conferences, and Exhibitions) services.

“We are thrilled to launch our first walk-in retail outlet in Mumbai, a city that epitomizes vibrancy and diversity. This store represents a significant milestone for Viacation as we continue to bring our exceptional travel services closer to our customers. We aim to make the travel planning process seamless and enjoyable,” said Mr. Jatinder Paul Singh, Global CEO & Co-founder.

What sets this store apart is its all-women management team, highlighting Viacation's commitment to diversity and empowerment. The experienced staff is fluent in English, Hindi, Gujarati, and Marathi, ensuring personalized assistance for a wide range of clientele, from families to corporates, with a strong focus on the B2C market.

Located strategically on a bustling high street, this retail outlet caters to Mumbai's cosmopolitan clientele. Viacation's expansion efforts continue, with plans to open in around 25 locations by December 2025, further solidifying its presence as a trusted travel partner across India.

The Ghatkopar store will serve as a comprehensive travel hub, offering everything from flight and hotel bookings to organizing group tours and corporate travel. With this new addition, Viacation continues to solidify its reputation as a trusted travel partner in India, meeting the growing demand for personalized travel services.

Since April 2023, Viacation's corporate office has been based in Mumbai, underscoring the city’s

importance in its growth and development strategy.

Utkarsh Small Finance Bank and Super.money announce a UPI linked secured co-branded credit card in partnership with NPCI

Key Highlights: -

·        Co-Branded credit card unveiled in partnership with Utkarsh Small Finance Bank

·        Integrates UPI functionality with a secured credit card on the RuPay network

• Users can obtain the credit card backed by a fixed deposit as low as Rs. 100; earning attractive interest on FD apart from enjoying powerful benefits of the credit card
• Offers best-in-class rewards on most merchant transactions across UPI, POS and ecommerce

Mumbai– August 28, 2024: Utkarsh Small Finance Bank along with super.money a credit-first UPI platform, today unveiled its co-branded credit card. The credit card supports regular merchant payments as well as UPI transactions using super.money’s ‘Scan & Pay’ feature. The announcement comes at a time when UPI integration has significantly boosted the adoption of credit cards in India. As per recent reports, nearly 30 percent of new credit cards are now being issued on the RuPay network.

In an industry-first, super.money allows users to obtain a credit card by initiating a deposit ranging from Rs. 100 - Rs.  10 Lakhs. This wide range allows people from all walks of life to participate in the ‘credit on UPI’ ecosystem. The deposit further yields an attractive interest rate, offering the dual benefit of allowing users to build their credit profile, their funds also earn attractive returns.

Cardholders are seamlessly enrolled in superCards rewards program. The card holders get lifetime access to superUPI, 5% off on transactions on Myntra, 3% off on Cleartrip and 2% off on Flipkart. The users can also avail 0.5% cashback on all eligible transactions. Once enrolled, users automatically receive cashback rewards with each purchase, simplifying the process and delivering immediate financial benefits without any additional steps.

Commenting on the partnership Mr. Govind Singh, MD & CEO, Utkarsh Small Finance Bank, said, “Our partnership with super.money to offer  India’s first FD-linked UPI-enabled co-branded credit card aligns with our commitment to provide innovative financial solutions. This is in sync with our strategy to expand the market by bringing benefits of a credit card to a segment with lower credit penetration. By integrating our services with super.money’s platform, we aim to offer individuals the opportunity to build a positive credit profile and get access to more lending products in future. We are excited to be part of this initiative and look forward to the positive impact it will have on customers’ financial journey.”

Launching the secured credit card at the Global Fintech Fest 2024, Prakash Sikaria, Founder & CEO of super.money, said, “Credit on UPI has addressed the demand side of the ecosystem, but the challenge remains on the supply side—specifically, how to bring the masses into the mainstream credit system, given the lack of adequate data for underwriting this cohort. This universal credit card product paves the way for the financial inclusion of millions of Indians who have previously been excluded from mainstream credit, offering them a path to formalize their credit journeys. As we move forward, we are excited to expand our financial services ecosystem and democratize access to credit for all.

Stay Compliant: Key Deadlines for Income Tax, TDS, GST, and Other Filings You Can’t Afford to Miss By CA Dunia

Mumbai : As the month draws to a close, it's vital for businesses and individuals to be aware of important compliance deadlines. Missing deadlines related to Income Tax, TDS, GST, and other regulatory requirements can lead to financial penalties, legal issues, and disruptions in business operations. In this article, we discuss the key deadlines you need to be mindful of and how timely compliance can save you from unnecessary hassles.

The Importance of Timely Compliance :

Timely filing of returns and payments is essential for maintaining your financial health and reputation. Whether it’s income tax, TDS, or GST, each has strict deadlines, and missing them can result in heavy fines, interest charges, and even legal actions. Additionally, businesses that comply on time gain a better standing with financial institutions and government bodies, further enhancing their credibility.

Major Compliance Deadlines at Month-End :

As we approach the end of the month, here are some key filing deadlines that require your attention:

1. Income Tax Filings: Individuals and businesses must file their returns within the stipulated timeframe to avoid penalties.

2. TDS Payments and Returns: Ensure that TDS payments are made by the due date and that returns are filed accurately to prevent interest charges.

3. GST Filings: GST compliance is critical, with monthly and annual filings due at regular intervals. Late submissions can attract hefty penalties.

4. Other Regulatory Filings: Professional tax, Provident Fund (PF), and ESIC contributions also have fixed deadlines. Timely payments and filings are essential for regulatory compliance.

How We Can Help You Stay Compliant :

Managing multiple deadlines can be overwhelming, but our team is here to simplify the process for you:

- Personalized Reminders: Never miss a deadline with timely reminders tailored to your filing schedule.

- Document Preparation Assistance: Our experts can help you prepare and review the required documents, reducing the chances of errors and ensuring that your filings are correct.

- Filing Services: We offer end-to-end support for filing returns and making payments on time, allowing you to focus on your business.

- Consultation and Support: Our team is always available to answer your questions, provide advice, and guide you through the complexities of tax and regulatory compliance.

What You Should Do Next :

1. Review Your Compliance Calendar: Make sure you have noted all upcoming deadlines and scheduled your filings accordingly.

2. Download Our Compliance Checklist: Use this checklist to stay organized and prioritize your tasks.

3. Reach Out for Support: If you need help navigating compliance requirements, don’t hesitate to contact us. We’re here to assist you at every step.

Conclusion :

Compliance is not just about avoiding penalties; it’s about building trust and ensuring the long-term success of your business. By staying on top of deadlines and taking proactive measures, you can ensure that your operations run smoothly and without interruption. At CA Dunia, your compliance is our priority. We’re committed to helping you meet all your obligations on time, so you can focus on what matters most-growing your business.

www.cadunia.com

Elevate your culinary experience with all new Crompton AMEO BLEND Nutri Blender

Mumbai -27  August, 2024, – Crompton Greaves Consumer Electricals Limited, renowned for its long-standing commitment to technological advancement and consumer satisfaction, unveils its newest addition to its kitchen appliance portfolio – the Ameo Blend Nutri Blender. The product meets the evolving needs of today’s consumers who seek solutions for their busy lifestyles, it fits seamlessly into small kitchens while supporting healthy food habits with Blend and Carry food grade Jars and multiple attachments like Sipper Cap and Storage Lid. It addresses all these versatile needs perfectly catering to home makers, working professionals, nuclear and joint families, for bachelors and bachelorettes and for all age groups. 

Whether it's whipping up a quick morning smoothie, preparing baby food, or crafting delicious chutneys, Ameo Blend - Nutri Blender goes beyond simply being another appliance in your kitchen. It is crafted to empower a lifestyle and offers range of superior features which can blend ice also effortlessly.

• Compact Design, Big Impact: The unique, space saving design makes it portable, easy to store and is perfect for all types of small and big kitchens.

• Powerful Performance: Equipped with a 400-watt powerful copper motor, it ensures a superior blending experience which can blend ice also effortlessly.

• Food Safety: The blender comes with food-grade jars, ensuring that all blends are healthy and hygienic.

• Versatile Blades: Specially designed blades cater to both blending and grinding functions.

• Leakage-Free Operation: With UV sealed silicon gaskets, the blender promises a hassle-free, leakage-free operation.

• Easy Maintenance: It is easy to clean, use, and store, making it an ideal choice for busy lifestyles.

• Portable Convenience: The sipper cap and storage lid attachments make it easy to blend, refrigerate, and carry your favorite 

• Warranty: Crompton offers a warranty of 2 years on the product

Speaking about the company’s newly launched product, Ketan Chaudhari, PL Head, Small Domestic Appliances at Crompton Greaves Consumer Electricals Ltd., said, "At Crompton, we are committed to enhancing the everyday lives of our consumers through innovative and reliable products. The Ameo Blend Nutri Blender is a testament to this commitment. With its powerful 400-watt copper motor and innovative design, it delivers exceptional performance that meets the diverse needs of modern households. Our commitment to health and convenience is reflected in its food-grade jars and versatile functionality, ensuring that every blend is not only nutritious but also easy to prepare. We are confident that the Ameo Blend will become an essential fixture in contemporary kitchens, transforming how families approach healthy eating and simplifying their culinary routines. Whether it's whipping up a quick morning smoothie, preparing baby food, or crafting delicious chutneys, the Ameo Blend makes healthy living effortless and enjoyable."

The Ameo Blend Nutri Blender, with its compact design and powerful features, is set to redefine the blending experience in households across India. The price of the product is INR 4800 and is available at all Crompton authorized retail outlets and leading ecommerce platforms. This innovative product is poised to make morning’s easier, meals healthier, and lives simpler. 

About Crompton: 

With a brand legacy of over 85 years, Crompton Greaves Consumer Electricals Ltd. is India’s market leader in the category of fans and residential pumps. Over the years, the organization has continuously strived to produce a range of innovative products, that cater to the modern consumer, which includes superior quality and high-performance fans, pumps, lighting solutions and a range of other categories like water heaters; air coolers; small kitchen appliances like mixer grinders, air fryers, OTG, electric kettles etc., as well as other home appliances like irons and built-in kitchen appliances. The company has also invested in brand and innovation to not only better understand and meet the consumer needs, but to also help drive energy efficiency. The consumer business also has a well-established and organized distribution network driven by a strong dealer base across the country offering a wide service network and robust after sales service to its customers. 

 

The company's consistent focus and drive has helped in developing energy-efficient products and these efforts also received numerous recognitions and awards. It has been honored with three prestigious National Energy Consumer Awards (NECA) by the Bureau of Energy Efficiency, Ministry of Power. The recent award was presented by the Hon’ble President of India, Smt. Droupadi Murmu for the company's storage water heater in the year 2023. In 2019, the brand also won the award in two categories: Ceiling Fans and LED Bulbs. Additionally, it was recognized as one of India's Best Managed Companies 2022 by Deloitte Private and been listed among ‘India’s Top 500 companies 2022’ by Dun & Bradstreet India. The company has also been featured in “Brand Top 75” most valuable Indian brands list for 2020 released by WPP and Kantar. Furthermore, Crompton was also recognized as the Brand of the Decade 2021 by Herald Global and BARC Asia in the Consumer Electrical category.

 

Gala Precision Engineering Limited’s Initial Public Offering to open on Monday, September 02, 2024, price band set at ₹503/- to ₹529/- per Equity Share

 

Mumbai, Tuesday, August 27, 2024: Gala Precision Engineering Limited is a precision component manufacturer of technical springs like disc & strip springs (“DSS”); coil & spiral springs (“CSS”) and special fastening solution (“SFS”), has fixed the price band of ₹503/- to ₹529/- 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 Monday, September 02, 2024, for subscription and close on Wednesday, September 04, 2024. Investors can bid for a minimum of 28 Equity Shares and in multiples of 28 Equity Shares thereafter.

The IPO consists of fresh issue of up to 25,58,416 equity shares and an offer for sale (OFS) of up to 6,16,000 equity shares by Promoter Group Selling Shareholders and Individual Selling Shareholders.

The proceeds from the fresh issue, to the extent of Rs 370 million for setting up a new facility at Vallam-Vadagal, SIPCOT, Sriperumbuddur, Tamil Nadu for manufacturing high tensile fasteners and hex bolts; Rs 110.69 million for funding capital expenditure requirements towards purchase of equipment, plant and machinery at Wada, Palghar, Maharashtra; Rs 454.30 million for repayment/ prepayment, in full or part, of certain borrowings availed by the Company; and general corporate purposes.

Led by Kirit Vishanji Gala, Gala Precision is a technology-driven company with a strong focus on quality, design tool development, and application engineering. It has more than 3 decades of experience in developing customized products to meet the evolving needs of its customers and commands an approximation of 15% market share in the domestic SFS market for wind turbines.

The Company supplies its products to original equipment manufacturers (“OEMs”), Tier 1 and channel partners; used in sectors like renewable energy including wind turbine and hydro power plants, various industrial sectors such as electrical, off highway equipment, infrastructure and general engineering, mobility segments such as automotive and railways. 

Its technical springs and high tensile fasteners have been supplied to customers in countries such as Germany, Denmark, China, Italy, Brazil, USA, Sweden, Switzerland etc. Accordingly, it is a key link in the global supply chain for OEMs.

Its business primarily comprises of springs technology division, under which it manufactures DSS including wedge lock washers (“WLW”), CSS and SFS in which it manufactures anchor bolts, studs and nuts.

The Company operates its business from its two manufacturing facilities located in Wada, Palghar, Maharashtra. Further, it is also setting up a new manufacturing facility in Vallam-Vadagal, SIPCOT, Sriperumbuddur, Tamil Nadu for developing various high-tensile fasteners to add to its existing product portfolio and new products.

For fiscal 2023–24, the company’s revenue from operations increased by 22.41%, reaching to ₹2025.45 million in Fiscal 2024 from ₹1654.65 million in Fiscal 2023, driven incremental sales of DSS due to the addition of new customers and increased demand from renewable energy, railways and industrial sectors; as well as incremental sales of CSS, owing to increased demand from the automobile industry and the commencement of supplies to the railways. Profit after tax for the fiscal 2024 stood at ₹223.32 million.

PL Capital Markets Private Limited is the sole book running lead manager 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 Offer shall be available for allocation 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.

Notes for Reference: 

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

Fresh (25,58,416 equity shares)  OFS (6,16,000 equity shares) Total 

Lower Band (@Rs 503) Rs 128.68 crore Rs 30.98 crore Rs 159.66 crore

Upper Band (@Rs 529) Rs 135.34 crore Rs 32.58 crore Rs 167.92 crore

National Infrastructure Trust files for Rs 1,600 cr IPO

National Infrastructure Trust, an infrastructure investment trust sponsored by Gawar Construction Limited (“GCL” or “Sponsor”). The trust was established on September 25, 2023 and registered with SEBI as on March 7, 2024 with the objective to acquire, manage and invest in portfolio of infrastructure assets in the country . The infrastructure investment trust has filed its Draft Offer Document with the regulator to raise an aggregate amount of Rs 1,600 cr via an issue of units to the public. 

The IPO comprises of fresh issue of units aggregating up to Rs 1200 crore and an offer for sale of up to Rs 400 crore by Sponsor Selling Unitholder. The Issue will be made through the book building process wherein 75% excluding the strategic investor portion will be available to institutional investors and 25% to non-institutional investors. 

The Net Proceeds are proposed to be utilized towards providing loans to the Project SPVs for repayment/ pre-payment of external borrowings, in part or in full from financial lenders; Loans to Project SPVs for repayment of unsecured loans availed by the Project SPVs from the Sponsor 

The Sponsor to the Issue, Gawar Construction Limited will subscribe to 15% of the total post issue unit capital of the InvIT in order to comply with the sponsor lock in requirements. Trustee and Investment Manager to the issue are Axis Trustee Services Limited and Gawar Investment Manager Private Limited.

National Infrastructure Trust is an infrastructure investment trust sponsored by Gawar Construction Limited (“GCL” or “Sponsor”), established on September 25, 2023 with the objective to carry on the activities of, and to make investments as, an infrastructure investment trust, as permissible under the SEBI InvIT Regulations.

The Sponsor, Gawar Construction Limited (“GCL” or “Sponsor”) is an infrastructure development and construction company in India, with over 15 years of experience, primarily engaged in the construction of road and highway projects across 19 states in India for various government/ semi -government bodies and statutory authorities including NHAI, Ministry of Road Transport & Highways (MoRTH), Mumbai Metropolitan Regional Development Authority (MMRDA) and Central Public Works Department (CPWD). Since 2008, the Sponsor has undertaken more than 100 road construction projects. 

As on the date of the Draft Offer Document, the Sponsor has a portfolio of 26 road projects on a hybrid annuity mode (“HAM”) with NHAI, of which 11 are completed projects, including the five acquired assets which were erstwhile owned by Sadbhav Infrastructure Project Limited, and 15 under-construction projects.

National Infrastructure Trust intends to acquire, manage and invest in the nine completed and revenue generating Initial Portfolio Assets, aggregating to approximately 683.875 kms, operated and maintained, pursuant to concessions granted by the NHAI and are owned and operated by the Project SPVs. Three road assets are in Haryana, One road asset each in Rajasthan, Bihar, Himachal Pradesh, Madhya Pradesh, Karnataka and Uttarakhand.  

Its Initial Portfolio of Assets has a weighted average residual concession life of 12 years as of June 30, 2024. 

The Trust, through the Investment Manager, will also have the right to acquire new projects through a right of first offer with our Sponsor in accordance with the Right of First Offer Agreement (“ROFO Agreement”). The Sponsor is currently developing 17 HAM assets consisting of approximately 546.344 km of roads across eleven states in India.

The revenue from operations of the SPV for the Fiscal 2024, 2023 and 2022 was Rs 1,485 crs, Rs 2.033 crs, Rs 1,908 respectively. Projected cash flows for FY25, FY26 and FY27 is estimated to be Rs 582 crs, Rs 662 crs and Rs 585 crs respectively. 

The initial portfolio of 9 assets for the trust is expected to receive annuities amounting to Rs 6020.10 cr by the end of its concession period. As on June 30, 2024 it had received annuities amounting to Rs 464.53 crs 

As per the Draft offer document, India’s road network has grown 59% to become the second largest in the world in the last 10 years. Till November 2024, cumulatively 5,248 kms of National Highways have been constructed. A total of 202 national highway projects worth ₹ 79,789 crore (US$ 9.59 billion) are at the implementation stage in the country and are 6,270 km in length. The Government of India has allocated ₹ 111 lakh crore (US$ 1.4 trillion) under the National Infrastructure Pipeline for

FY25.

SBI Capital Markets Limited and HDFC Bank Limited are appointed as the lead managers to the issue. Axis Trustee Services Limited has been appointed as the sole Trustee of the Trust.  The Units are proposed to be listed on BSE and NSE 

CEAT Cricket Rating Awards Celebrates 26th Edition Honouring Cricketing Excellence across the Globe

Mumbai, India – 21st August, 2024:* CEAT, India's leading tyre manufacturer, celebrated the remarkable achievements of cricketing legends with the 26th edition of the CEAT Cricket Rating (CCR) Awards in Mumbai today. This prestigious event continues to be a global platform that unites the cricketing fraternity and honours exceptional performances from both international and domestic arenas.

*Speaking on the occasion, Mr. Harsh Goenka, Chairman of RPG Group, said*, _“As we mark the 26th edition of the CEAT Cricket Rating Awards, we take immense pride in continuing our commitment to celebrating cricketing excellence. Over the years, CEAT Cricket Ratings has become synonymous with recognizing the extraordinary contributions of cricketers worldwide. We salute their passion, dedication, and relentless pursuit of excellence, which continues to inspire millions. Through these awards, we not only celebrate individual brilliance but also reaffirm our belief in the power of cricket to bring people together and create lasting bonds.”_

*India cricket legend and Chief Adjudicator of the CEAT Cricket Ratings, Mr. Sunil Gavaskar, added,* _“The CEAT Cricket Rating Awards has been a beacon for recognizing outstanding talent in this great sport. This year’s award winners have set the benchmark for future generations, showcasing impeccable skill and sportsmanship. It’s a privilege to be part of this journey that celebrates the spirit of cricket.”_

*CEAT Men’s International Cricketer of the Year, Rohit Sharma,* expressed his gratitude, saying, _“Receiving the CEAT Men’s International Cricketer of the Year award is a humbling experience. It’s an acknowledgment of the hard work and determination that goes into every match. I’m grateful to CEAT for this honour and motivated to continue pushing the boundaries of what’s possible on the field.”_

*CEAT Women’s Indian Bowler of the Year, Deepti Sharma, also shared her thoughts:* _“Being recognized as the CEAT Women’s Indian Bowler of the Year is truly special. This award is a testament to the support and encouragement I’ve received from my team, coaches, and fans. CEAT’s recognition fuels my drive to keep performing at my best and contributing to the game.”_

The 26th edition of the awards honoured a distinguished group of cricketers and sports leaders who showcased exceptional talent and leadership throughout the year. Phil Salt was celebrated as the Men's T20I Batter of the Year, while Tim Southee earned the title of Men's T20I Bowler of the Year. In recognition of his tactical brilliance, Shreyas Iyer received the Award for Outstanding Leadership for TATA IPL. Sai Kishore was recognized as the CEAT Domestic Cricketer of the Year for his consistent performances on the domestic circuit. Virat Kohli took home the Men's ODI Batter of the Year award, and Mohammad Shami was named the Men's ODI Bowler of the Year. The Award for Most Matches as a Captain in Women's T20I History was awarded to Harmanpreet Kaur, while Yashashvi Jaiswal and Ravichandran Ashwin were honoured as the Men's Test Batter of the Year and Men's Test Bowler of the Year, respectively. On the women's side, Deepti Sharma was named the Women's Indian Bowler of the Year, and Smriti Mandhana earned the title of Women's Indian Batter of the Year. The Award for the Fastest Double Century in Women's Test went to Shafali Verma, while Jay Shah was recognized with the Award for Excellence in Sports Administration for their significant contributions to the sport. For his glorious contribution to the world of cricket, Rahul Dravid was honoured with the Lifetime Achievement Award.

The CEAT Cricket Rating Awards continue to be a benchmark of excellence in the cricketing world, drawing attention from cricket fans, celebrities, and sports enthusiasts across the globe.

1 CEAT Lifetime Achievement Award Rahul Dravid

2 CEAT Men's International Cricketer of the Year Rohit Sharma

3 CEAT Men's ODI Batter of the year Virat Kohli

4 CEAT Men's ODI Bowler of the year Mohammad Shami

5 CEAT Men's Test Batter of the year Yashashvi Jaiswal

6 CEAT Men's Test Bowler of the year Ravichandran Ashwin

7 CEAT Men's T20I Batter of the year Phil Salt

8 CEAT Men's T20I Bowler of the year Tim Southee

9 CEAT Domestic Cricketer of the Year Sai Kishore

10 CEAT Women's Indian Batter of the Year Smriti Mandhana

11 CEAT Women's Indian Bowler of the Year Deepti Sharma

12 Memento - Most matches as a captain in Women's T20I history Harmanpreet Kaur

13 Memento for Outstanding Leadership for TATA IPL Shreyas Iyer

14 Memento for Fastest Double Century in Women's Test Shafali Verma

15 CEAT Award for Excellence in Sports Administration Jay Shah

Rekha Jhunjhunwala-backed Baazar Style Retail Limited’s Initial Public Offering to open on Friday, August 30, 2024, price band set at ₹370/- to ₹389/- per Equity Share

Mumbai, Monday August 26, 2024: Baazar Style Retail Limited, a value fashion retailer offering quality and affordable products under the apparels and general merchandise segments, through a chain of ‘value retail’ stores, has fixed the price band of ₹370/- to ₹389/- 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 Friday, August 30, 2024, for subscription and close on Tuesday, September 03, 2024. Investors can bid for a minimum of 38 Equity Shares and in multiples of 38 Equity Shares thereafter. A Discount of 35 per Equity Share is being offered to Eligible Employees

The IPO consists of fresh issue of up to Rs 148 crore and an offer for sale (OFS) of up to 1,76,52,320 equity shares by Promoter Group Selling Shareholders and Investor Selling Shareholders.

The proceeds from the fresh issue, to the extent of Rs 146 crore for prepayment or repayment of all or a portion of certain outstanding borrowings availed by the Company; and general corporate purposes.

Earlier, this month, Baazar Style Retail Limited had undertaken a private placement of 9,56,072 equity shares to Volrado Ventures Partners Fund II at an issue price of Rs 387 per equity share (including a premium of Rs 382 per equity share) aggregating to Rs 37 crore. Accordingly, the fresh issue is reduced.

Incorporated in 2013, Style Baazar had market share of 3.03% and 2.22%, respectively in organized value retail market in the states of West Bengal and Odisha, respectively as per The Technopak Report. It has the largest retail footprint in Eastern India when compared to the Listed Value Retailers in Fiscal 2024. The Company was the fastest growing value retailer between 2017 to 2024, in terms of both store count and revenue from operations, when compared to V2 Retail Limited and V-Mart Retail Limited (“Listed Value Retailers”) as per The Technopak Report. A majority of its stores are operated under the brand name ‘Style Bazaar’. It has developed its brand ‘Style Bazaar’ over the years, through a wide range of products, which it believe has resulted in strong customer loyalty and recognition.

The Kolkata-based Retailer offers bifurcated under the apparels and general merchandise verticals. Within the apparels vertical, it offers garments for men, women, boys, girls and infants, whereas its general merchandise offerings include both non-apparels and home furnishing products. It focuses on providing a family-oriented shopping experience, offering quality products and strive to offer every Indian stylish merchandise at an affordable price. 

As of March 31, 2024, its stores had an average size of 9,046 square feet with trained staff to enhance customer experience. 

Its product portfolio includes both apparels and general merchandise including cosmetics and imitation jewellery, consumer appliances, houseware products and bags, as highlighted below. The portfolio of apparels includes shirts, t-shirts, trousers, sarees, sports and active wear, winter wear, night wear, western ware, ethnic wear and accessories catering to the needs of men, women, children, and youngsters. 

Baazar Style Retail's consolidated revenue from operations stood at ₹972.88 crore in fiscal 2024 and Profit after tax stood at ₹21.94 crore in fiscal 2024.

Axis Capital Limited, Intensive Fiscal Services Private 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 less than 50% of the Net Offer shall be available for allocation to Qualified Institutional Buyers, not more than 15% of the offer shall be available for allocation to Non-Institutional Bidders and not more than 35% of the 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    OFS (1,76,52,320 equity shares) Total 

Lower Band (@Rs 370) Rs 148 crore Rs 653 crore Rs 801 crore

Upper Band (@Rs 389) Rs 148 crore Rs 687 crore Rs 835 crore

#Stree2 SMASHES through the 400 Cr milestone!

 

#Stree2 SMASHES through the 400 Cr milestone! With a massive ₹40.7 Cr Sunday haul, the total now stands at an impressive ₹402 Cr. From multiplexes to single screens, this blockbuster shows no signs of slowing down! Tier-2 and Tier-3 markets are seeing a surge like never before. With the Janmashtami holiday around the corner, there’s no stopping this blockbuster!

साहित्यसेवक वसंत तावडे स्मृती प्रबोधन-मार्मिक कथा स्पर्धेचे आयोजन

मुंबई-शिवसेनाप्रमुख बाळासाहेब ठाकरे यांच्या ८०% समाजकारणाच्या विचारांच्या प्रेरणेतून सन १९७२ साली शिवसेना नेते व प्रबोधन गोरेगावचे संस्थापक सुभाष देसाई यांनी प्रबोधन गोरेगाव या संस्थेची स्थापना केली. ज्ञान, कला, सेवा या त्रिसूत्रीला न्याय देत आज या संस्थेने गोरेगाव आणि आजूबाजूच्या परिसरातील जनतेसाठी प्रबोधन डायलेसिस सेंटर , मीनाताई ठाकरे रक्तपेढी , प्रबोधनकार ठाकरे वाचनालय सह अभ्यासिका , जॉगर्सपार्क , ओझोन स्विमिंग पूल , प्रबोधन क्रीडाभवन असे समाज उपयोगी उपक्रम चालू केले आहेत. संस्थेला ५० वर्ष पूर्ण झाल्याच्या निमित्त प्रबोधन संस्थेने ग्रामीण भागातील अर्धवट शिक्षण झालेल्या गरीब मुला मुलींना रोजगार मिळवण्यासाठी शिक्षणा सोबत तांत्रिक कौशल्य द्यावे याउद्देशाने रायगड जिल्ह्यातील माणगांव तालुक्यात एमजीएल- प्रबोधन कौशल्य निकेतन हि संस्था २०२२ पासून सुरु केली. या संस्थेत नर्सिंग , आयटी, इलेक्ट्रिक , एसी , गॅस पाईपिंग , ब्युटीपार्लर , टेलरिंग , मोबाईल रिपेअर सुरु केले असून दरवर्षी साधारण ३२० विध्यार्थी प्रशिक्षित होणार आहेत.

स्व. वसंत तावडे हे प्रबोधन गोरेगाव संस्थेच्या संस्थापक सदस्यांपैकी एक धडाडीचे शिवसैनिक. अखेरच्या श्वासापर्यंत शिवसेना , शिवसेनाप्रमुख बाळासाहेब ठाकरे आणि प्रबोधन गोरेगाव या तीन नावानी झपाटलेला . या संस्थेचा ते एक प्रमुख आधारस्तंभ होते. शिवसेनेच्या संपूर्ण इतिहासाची व कार्याची विविध वृत्तपात्रात /मासिकात छापून आलेली कात्रणे जमा करण्याचा त्यांना छंद होता. स्व. वसंत तावडे यांच्याकडे उत्तम वाचक आणि चांगला लेखक हे गुण असल्यामुळे त्यांनी *आपले वसंतश्री* हा दिवाळी अंक प्रकाशित करण्याचा उपक्रम अनेक वर्षे सातत्याने व यशस्वीपणे चालविला. मराठी भाषेवर प्रभुत्व असल्याने व्याकरणशुद्ध मराठी लेखनासाठी  त्यांचा प्रचंड आग्रह होता.

१९७७ साली मराठी साहित्य संमेलन गोरेगाव येथे भरवण्यासाठी स्व. वसंत तावडे यांचा सिंहाचा वाटा होता. मुंबई साहित्य संघ , गिरगाव या संस्थेशी आणि त्या संस्थेच्या कार्यात त्यांचा जवळचा संबंध होता तसेच ज्या ज्या ठिकाणी मराठी साहित्य संमेलन आयोजित केले जायचे त्या त्या ठिकाणी ते आपल्या मित्र पारिवाराला आग्रह करून सोबत घेउन जायचे.

   त्यांच्या असामान्य योगदानाला विनम्र अभिवादन म्हणून यावर्षी पासून '*साहित्यसेवक वसंत तावडे स्मृती प्रबोधन-मार्मिक कथा स्पर्धा*' आयोजित करण्यात येत आहे. या स्पर्धेमध्ये मराठी कथा लेखकांनी मोठ्या प्रमाणात सहभागी व्हावे असे  आवाहन प्रबोधन गोरेगाव आणि साप्ताहिक मार्मिक तर्फे केले  आहे.

या स्पर्धेसाठी किमान ३००० ते कमाल ४००० शब्द मर्यादा असावी. या स्पर्धेतील विजेत्यांना प्रथम,द्वितीय, तृतीय,तसेच प्रथम उत्तेजनार्थ, द्वितीय उत्तेजनार्थ व सर्वोकृष्ट विनोदी कथालेखनास प्रोत्साहन म्हणून विनोदी कथा पारितोषिक दिले जाईल.लेखकांनी आपली कथा प्रबोधन गोरेगाव,प्रबोधन क्रीडाभवन,प्रबोधन क्रीडाभवन मार्ग,सिद्धार्थ नगर,गोरेगाव पश्चिम,मुंबई १०४ या पत्त्यावर किंवा prabodhankridabhavan2014@gmail.com या इमेल वर दि,३० सप्टेंबर २०२४ पर्यंत पाठवावी असे आवाहन प्रबोधन गोरेगावने केले आहे.

Vasant Tawde - Katha ( Story Writing contest) by Prabodhan Goregaon & Marmik

 

REC Limited Commits Rs. 15 Crore for Free Medical Treatment of Children with Congenital Heart Disease for the Second Consecutive Year

Gurugram : In a significant Corporate Social Responsibility (CSR) initiative, REC Limited, a Maharatna CPSE under the Ministry of Power and a leading NBFC, has committed Rs. 15 crore to provide free medical treatment and surgery for approximately 1,000 children born with congenital heart disease from economically weaker sections of society.

The Memorandum of Agreement (MoA) formalizing this noble endeavour was signed between Ms. Taruna Gupta, Executive Director of CSR at REC Limited, and Shri Vivek Gaur, Trustee of Sri Sathya Sai Health and Education Trust. The agreement was exchanged in the esteemed presence of Shri Vivek Kumar Dewangan, Chairman and Managing Director of REC Limited.

This initiative is a continuation of REC’s previous CSR initiative, "Healing Little Hearts," where Rs. 15 crore was allocated to treat 1,000 children. The success of the initial project, which provided these children with a new lease on life, has motivated REC to extend its support to even more families in need.

Through this initiative, REC Limited reaffirms its commitment to social responsibility by ensuring that children born with congenital heart disease receive the necessary medical intervention to lead healthy and active lives. This initiative underscores REC’s ongoing dedication to making a positive impact in the lives of those in need through its CSR activities.

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.

Hero Motors files DRHP for Rs 900 crore IPO

 South Asia Growth Invest backed Hero Motors, the flagship auto-components company of the Hero Motors Company (HMC) Group and one of India's leading automotive technology companies, has filed its draft red herring prospectus (DRHP) with the market regulator Securities and Exchange Board of India (SEBI) to raise Rs 900 crore through an initial public offering (IPO).

The IPO is a mix of fresh issue of up to Rs 500 Cr and an offer for sale up to Rs 400 Cr by promoters. The OFS includes Rs 250 crore worth shares by O P Munjal Holdings, and Rs 75 crore each by Bhagyoday Investments and Hero Cycles.

The company, in consultation with the book-running lead managers, may consider a pre-IPO placement of Rs 100 crore prior to filing of the Red Herring Prospectus. If such placement is completed, the amount will be reduced from the fresh issue.

Proceeds from the fresh issue of shares will be used to the extent of Rs 202 crore for repayment or pre-payment, in full or in part, of certain of its outstanding borrowings availed by the Company, Rs 124 crore for funding capital expenditure towards purchase of equipment required for expansion in capacity of our Gautam Buddha Nagar, Uttar Pradesh facility besides general corporate purposes.

Hero Motors is India’s leading automotive technology companies (Source: CRISIL Report) engaged in designing, developing, manufacturing and supplying highly engineered powertrain solutions provider to automotive OEMs in the United States, Europe, India, and the ASEAN region. The company's product range includes both electric and non-electric powertrains for various vehicle categories including two-wheelers, e-bikes, off-road vehicles, electric and hybrid cars, heavy-duty vehicles, and eVTOL.

Hero Motors operates in two segments - powertrain solutions, and alloys and metallics. It has six manufacturing facilities across India, the United Kingdom, and Thailand.

The Company has a diversified customer base including global brands such as BMW AG, Ducati Motor Holding SPA, Enviolo International Inc, Formula Motorsport, HUMMINGBIRDEV Inc, HWA AG, and leading global e-bike manufacturers.

Hero Motors is the only player manufacturing and exporting CVT hubs to global e-bike OEMs from India, and the only manufacturer of integrated electric powertrain products for e-bikes in India.

Hero Motors' revenue from operations stood ₹1,064.4 crore in the fiscal 2024.

ICICI Securities, DAM Capital Advisors, and JM Financial are the book-running lead managers to the issue.

DRHP:  LINK: https://www.bseindia.com/corporates/download/355016/1.%20DRHP%20Hero%20Motors%20Limited_23082024_20240823221948.pd