Thursday, October 3, 2024

Garuda Construction and Engineering Limited’s Initial Public Offering to open on Tuesday, October 08, 2024, price band set at ₹92/- to ₹95/- per Equity Share

Mumbai, October 3, 2024: Garuda Construction and Engineering Limited, a growing civil construction company provide end-to-end civil construction for residential, commercial, residential cum commercial, infrastructure and industrial projects and additional services for infrastructure and also hospitality projects, has fixed the price band of ₹92/- to ₹95/- 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 Tuesday, October 08, 2024, for subscription and close on Thursday, October 10, 2024. Investors can bid for a minimum of 157 Equity Shares and in multiples of 157 Equity Shares thereafter.

The IPO is a mix of fresh issue of up to 1,83,00,000 equity shares and an offer of sale up to 95,00,000 equity shares.


The net proceeds (gross proceeds less issue expenses) from its fresh issuance will be utilized to the extent of Rs 100 crore towards working capital requirement; and balance towards general corporate purposes including unidentified inorganic acquisitions.

Garuda Construction and Engineering is a growing civil construction company providing end-to-end civil construction for residential, commercial, residential cum commercial, infrastructure and industrial projects and additional services for infrastructure and also hospitality projects.

Its end-to-end civil construction starts with detailed route survey, designing, detailed engineering, mobilization of resources, micro scheduling of construction activities, obtaining construction permissions and conducting soil/water testing, hiring of contractor / manpower, procurement of material, lab testing, carrying out construction activities as per approved plan and finally handing over the project are per the agreed terms. 

Besides, civil construction it is also involved in services. It also provides services such as operations and maintenance services (“O&M”) and Mechanical, Electrical and Plumbing (“MEP”) services and finishing works as a part of its construction services.

It is currently engaged in civil construction of six (6) residential projects, two (2) commercial projects, one (1) industrial project and one (1) infrastructure, with an order book of ₹ 1,408.27 crore.

Garuda Construction’s revenue from operations has grown from ₹ 77.02 crore in Fiscal 2022 to ₹ 154.18 crore in Fiscal 2024, at a Compound Annual Growth Rate (“CAGR”) of 26.03%, and profit after tax has increased from ₹ 18.78 crore in Fiscal 2022 to ₹ 36.43 crore in Fiscal 2024, at a CAGR of 24.72%. 

For the one month ended April 2024, revenue from operations stood at ₹ 11.87 crore and Profit after Tax stood at ₹ 3.50 crore.

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.


Corpwis Advisors Private Limited is the sole book running lead manager, and Link Intime India Private Limited is the registrar of the issue.


Notes for Reference: 

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

Fresh (1,83,00,000 equity shares)  OFS (95,00,000 equity shares) Total (2,78,00,000)

Lower Band (@Rs 92) Rs 168.36 crore Rs 87.40 crore Rs 255.76 crore

Upper Band (@Rs 95) Rs 173.85 crore Rs 90.25 crore Rs 264.10 crore



Wednesday, October 2, 2024

Streax Professional Transforms Mumbai's Beauty Scene with Innovative & Global Trends at Professional Beauty India 2024


 Mumbai, October 3rd, 2024 – Streax Professional, known for its innovation and leadership in the salon products industry, successfully concluded its participation at Professional Beauty India 2024. Held on 30th September and 1st Oct 2024 at the Bombay Exhibition Centre, Nesco, Goregaon East, the event marked a significant platform for industry professionals, brands, and enthusiasts to explore the latest trends and innovations in beauty.

During Professional Beauty India 2024, Streax Professional reaffirmed its position as a frontrunner in the haircare sector by unveiling its latest product innovations such as Streax Professional Huemagic No-Ammonia Hair Colour and Argan Secrets High Lift shades. 

Rochelle Chhabra, Head - Streax Professional shared, “At PBI, Streax Professional truly captivated the audience with an immersive experience that included engaging booths, dynamic live demonstrations, and stunning ramp shows taking inspiration from our IP the MEGA SHOW – SPECTRUM COLLECTION 2024. The response from beauty professionals and enthusiasts was incredible, as they explored our wide range of products and learned about the latest trends and techniques. We are excited to introduce Huemagic, a breakthrough no-ammonia hair colour that meets the demands of both stylists and clients.”

 

Priyanka Puri, Senior Vice President Marketing at Streax Professional expressed, “Streax Professional stands as a trendsetter in the industry, consistently harnessing the latest international styles while leveraging our deep understanding of Indian hair. Our bespoke collections are meticulously crafted for our salon community and consumers, showcasing our adaptability and exceptional quality. Building on the strong foundation of our showcase in Delhi, we are excited to expand our success in Mumbai, empowering salon professionals to enhance their clients’ experiences and meet the evolving demands of today's discerning Indian consumers. Witnessing the enthusiastic reception from the industry is incredibly fulfilling.” 

In conclusion, Shirin Merchant – Technical Ambassador, Streax Professional said “Our presence at Professional Beauty India 2024 highlights our commitment to bringing global haircare trends to India and adapting them to meet the unique needs of the Indian salon industry. By bridging international innovations with local expertise, we aim to inspire and elevate the standards of haircare and styling across the country.”

Key Highlights:

Interactive Professional Booth: Streax Professional engaged attendees with an interactive booth offering comprehensive product information and personalized consultations. Visitors enjoyed experiential styling sessions and participated in a fun fortune wheel activity, winning exciting product giveaways.

Colour Pod: Exclusively dedicated to hair colouring, the Colour Pod featured live demonstrations and educational sessions, showcasing Streax Professional’s diverse range of hair colourants and techniques. Highlights included the newly launched Streax Professional Argan Secrets High-lift shades and Huemagic No Ammonia Hair Colour. 

Live Haircut & Hairstyle Show on the Ramp: The packed arena was treated to innovative techniques and stylish looks. Live haircut and styling sessions by our Technical Ambassador Shirin Merchant and Deputy General Manager of Technical Education Heena Dalvi, showcased international innovations with local expertise. In hair styling, attendees were impressed by the Vintage Wave up style and Cornrow with Hollywood waves.

Ramp Hairstyles: Models presented a variety of stunning hairstyles, such as beachy waves, glamorous high ponytails, smoothened waves, high-volume blown hair, and textured styles, highlighting the versatility and creativity of Streax Professional products.

 

Tuesday, October 1, 2024

REC signs MoU with Govt. of Rajasthan for Rs. 3 Lac Crore

Delhi, 30 sept 2024: REC Limited, a Maharatna CPSU under Ministry of Power and a leading NBFC, has signed MoU with Govt of Rajasthan, Department of Finance during the "Rising Rajasthan Investors meet" today. As per MoU, REC will provide Rs. 50,000 Crore annually (increase from Rs. 20,000 Crore) to finance projects across power and non-power infrastructure for a period of six years upto 2030 i.e. total value of MoU is Rs. 3.00 lac cr.  

The MoU was signed in the presence of Hon'ble Chief Minister, Govt of Rajasthan, Shri Bhajan Lal Sharma; Col Rajyavardhan Rathore, Minister for Industries & commerce, GoR; Sri Sudhansh Pant, Chief Secretary, GoR. The MoU was exchanged by Shri Rahul Dwivedi, ED (PMD and I&L) REC and Shri Debasish Prusty, Secretary to GoR.

On 10th March 2024, MoU was signed in Jaipur between REC and Govt of Rajasthan to finance Rs. 20,000 Crore annually till 2030. Today's MoU is update of the same. 

With this MoU, there is expected to be a rapid increase in projects in Rajasthan related to the state's infrastructure sector, such as power projects, metros, roads & highways, airports, IT infrastructure, oil refinery, steel infrastructure, ports & waterways, fiber optics, telecom, health sector, tourism infrastructure, agriculture and other infra projects. This collaboration underscores REC's commitment to supporting the development of both power and non-power infrastructure in Rajasthan, thereby contributing to the state's economic growth and prosperity.

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.



प्रबोधन-मार्मिक कथा स्पर्धेला देशभरातून भरघोस प्रतिसाद


*मुंबई : *प्रबोधन गोरेगाव आणि साप्ताहिक मार्मिक* यांच्यातर्फे आयोजित *साहित्य सेवक वसंत तावडे स्मृती कथा स्पर्धेला* देशभरातून  उदंड प्रतिसाद लाभला असून ३० सप्टेंबर या मुदतीअंती १००हून अधिक कथा स्पर्धेसाठी पाठविल्या गेल्या आहेत. 


साहित्यसेवक वसंत तावडे यांच्या स्मृतीप्रीत्यर्थ आयोजित या स्पर्धेत प्रथम क्रमांक पटकावणाऱ्या कथेला ११ हजार रुपयांचा पुरस्कार देण्यात येणार असून द्वितीय व तृतीय क्रमांकाच्या कथांना अनुक्रमे 5 हजार आणि 3 हजार रुपयांचे पारितोषिक दिले जाईल. त्याशिवाय दोन कथांना २५०० रुपयांचा उत्तेजनार्थ पुरस्कारही देण्यात येणार आहे. 


स्पर्धेचा निकाल लवकरच जाहीर होईल आणि विजेत्यांना पुरस्कार प्रदान केले जातील. पुरस्कारविजेत्या कथा साप्ताहिक मार्मिकमध्ये प्रसिद्धही केल्या जाणार आहेत.

Critical Brain Surgery Saves Life of 34-Year-Old Man with a rare Moyamoya Disease

 

Dr. Sachin Ashok Giri ( Neuro surgeon )

Dr L H Hiranandani Hospital        

“Your family super speciality hospital”

ISO 9001:2008 CERTIFIED

DAR & NABCB ACCREDITED

(National Accreditation Board for Hospitals & Healthcare Providers.  An initiative of Quality Council of India) 

A NABH Accredited Hospital


Mumbai, 2nd October, 2024: A 34-year-old man’s life was recently saved after undergoing urgent brain surgery at Dr. L H Hiranandani Hospital in Powai, Mumbai, following a rare and life-threatening stroke. The man was brought to the hospital comatose state and was unable to move the left side of his body. Doctors quickly diagnosed him with a hemorrhagic stroke caused by a rare condition called Moyamoya disease.

Dr. Sachin Ashok Giri, a Neurosurgeon at the hospital who led the procedure, explained, “Moyamoya disease is a rare, progressive condition that affects the blood vessels in the brain. In this disease, the internal carotid arteries at the base of the brain became narrowed or blocked, reducing blood flow. To compensate, the brain forms tiny, fragile blood vessels in an attempt to bypass the blockage. These vessels resemble a “puff of smoke” on brain angiography, which is where the name “Moyamoya” (Japanese for ‘Hazy’) comes from. Over time, these vessels can rupture, leading to strokes or brain hemorrhages. The disease primarily affects children but can also occur in adults. In this case, the patient had a large blood clot on the right side of his brain, putting his life in danger. Our team, performed an emergency surgery to remove the clot and in the same sitting augmented blood flow to the brain using a special technique. It was a complex operation but crucial for saving his life.”

Thanks to the surgery, the patient made remarkable progress. By the fourth day, he regained movement in his left side and was able to walk without support.

This success story underscores the importance of rapid intervention and expert medical care in treating strokes. The skilled team at Dr. L H Hiranandani Hospital has given the patient a new lease on life, and he is well on his way to recovery.

For more information, please contact: 9820545985.

To know more about the Hospital visit www.hiranandanihospital.org

Hillside Avenue, Hiranandani Gardens, Powai, Mumbai  400 076. India Tel: 2576 3333/ 3300, Fax: 2576 3311/ 2576 3344

Website: www.hiranandanihospital.org, Email: wecare@hiranandanihospital.org


The 7th Edition of Big Cine Expo Concludes with a Spectacular Showcase of Cinema Innovation, Industry Excellence, and New Horizons

Key highlights:

Exclusive Studio Presentation by Warner Bros. Discovery

Acclaimed Director Atlee treated the audience to an exclusive preview of his highly anticipated film, Baby John. 

Ramesh Sippy Honored with Special Achievement Award

Mukta A2 Cinemas, founded by director Subhash Ghai, announced a Rs 99 cap on all food and beverage prices to make movie outing costs more affordable for Indians. 


Mumbai, 1st October 2024 – The Big Cine Expo, Asia’s largest and the world’s second-largest international convention and trade show for the cinema industry, recently held in Mumbai from September 30th to October 1st. The grand inauguration saw the presence of esteemed industry leaders, including Dinesh Vijan, Founder of Maddock Films; Alok Tandon, Co-CEO of PVR-INOX; Raghavendra T. (Raghav), Director of Big Cine Expo; and Yusuf A. Galabhaiwala, Founder of Galalite Screens.

This two-day event provided a unique platform for local and international stakeholders to network, exchange insights, and showcase the latest innovations in cinema technology, products, and services aimed at transforming the entertainment landscape.

One of the major highlights of the expo was the exclusive screening of never-before-seen footage from Atlee's much-anticipated upcoming film, Baby John. The film, featuring an all-star cast including Varun Dhawan, Jackie Shroff, Keerthy Suresh, and Wamiqa Gabbi, drew significant attention and excitement from attendees.

Another key highlight was the IMAX Big Cine Awards 2024, which celebrated outstanding achievements in the cinema exhibition industry. The prestigious awards recognized leaders and innovators across several categories. PVR Inox was honored as India’s Top Multiplex Chain, while Mr. Mukunda from Bengaluru won Best Single Screen Theater of the Year. MovieMax Cinema was awarded the title of Fastest Growing Cinema Chain, and the Most Talented Cinema Entrepreneur Award went to Mr. Akkshay Rathie, acknowledging his dynamic contributions to the industry.


A panel discussion titled "Driving Innovation in the Cinema F&B Experience" brought together industry leaders to explore innovative pricing models in cinema food and beverage offerings aimed at attracting and retaining customers. The discussion focused on how cinemas can strike the right balance between creative pricing strategies and enhanced customer satisfaction, ultimately driving increased revenue and improving the overall cinematic experience. Mukta A2 Cinemas, founded by director Subhash Ghai, announced a Rs 99 cap on all food and beverage prices to make movie outing costs more affordable for Indians. The move aims to remove one of the most common deterrents for moviegoers, was revealed at the Big Cine Expo during the discussion

“Big Cine Expo is the world’s largest trade show dedicated to multiplexes, single-screen theaters, malls, and theatrical distribution in Asia, showcasing groundbreaking innovations. In the post-pandemic era, the cinema industry has the opportunity to reinvent itself. This year’s event emphasizes innovative productions that cater to the evolving needs of audiences, fueled by technological advancements.” said Raghavendra T (Raghav), Director of Big Cine Expo.

“Big Cine Expo’s 7th edition successfully united the cinema exhibition industry, offering an excellent platform for networking and collaboration. It stands as a testament to strength and innovation, and at PVR INOX, we are proud to be part of this journey. Congratulations to the team for organizing another outstanding event and for their commitment to our industry's growth,” said Ajay Bijli, Managing Director of PVR INOX Limited.


The 7th edition of Big Cine Expo not only celebrated the industry's milestones but also set the course for its future. With its focus on innovation, sustainability, and global collaboration, the expo reaffirmed its importance as a beacon for the cinema industry's ongoing evolution, promising exciting new horizons for both professionals and audiences alike.


About Network208

Network208 is a leading media company providing a better platform for the cinema and entertainment B2B business domestically and internationally. Network208 publishes a quarterly magazine ‘TheatreWorld’ and organizes the international tradeshow and convention for single-screen, multiplex cinemas and malls known as ‘Big Cine Expo.’ Asian countries are surging ahead. India is one of the world's emerging economies with the entertainment sector occupying a dominant position. In fact, the Indian cinema industry is second only to Hollywood in size. South India, having the highest number of cinema screens and the highest number of movie releases, is the top market for cinema exhibitions in India. There is a huge appetite for technical know-how and equipment owing to the untapped potential in the cinema theatre market in India and other Asian countries. And herein lies an opportunity for a viable platform in India.

For further information, please visit: https://www.bigcineexpo.com/

For more info: Please connect with Isha at 

Honourable Speaker, 18th Lok Sabha Shri Om Birla graces The CSR Journal Excellence Awards 2024 (7th Edition)

 Mumbai, 30 September, 2024: Honourable Speaker, 18th Lok Sabha Shri Om Birla was the Chief Guest at the 7th Edition of The CSR Journal Excellence Awards 2024 hosted on the 30th of September, 2024, at the Jio World Convention Centre in Mumbai. As it has been since the very inception, this year also, the theme for our awards was ‘India First’ with a focus on Women Empowerment.

Addressing a gathering of over 600 guests including senior bureaucrats, public representatives, social activists, youth leaders, artists, members of India Inc. and meritorious students representing the future of our nation at the 7th edition of The CSR Journal Excellence Awards, Honourable Speaker, 18th Lok Sabha Shri Om Birla stated, “I extend my heartfelt gratitude to each and everyone who are working hard to bring a smile on the faces of the underprivileged people and trying to make their lives better. What the companies are doing for the society is also a very noble task. I would like to say this that if with your efforts you are able to bring about a smile on at least one person's face, there is no job nobler than this.

The government at the Central and state level has introduced schemes for the economic betterment of the society and today we are witnessing a socio-economic change in India. India is progressing as a nation and has become stronger and more powerful and our nation is earning respect internationally."

Mr Amit Upadhyay, Founder & Editor-in-Chief, The CSR Journal, expressed, “Our theme for this event is India first and our focus is on women empowerment. This is a subject closer to my heart and I always keep saying this that women do not need any empowerment. They are empowered. Historically responsibility towards the society has been ingrained in Indian culture just like communal harmony. It is a part of our culture and tradition which has been running through our veins."

Member of Parliament, Rajya Sabha and President, Indian Olympic Association Smt P. T. Usha was present as one of our esteemed guests. The star-studded event also witnessed the attendance of Bollywood superstar Ayushmann Khurana, noted actors Vikrant Massey, Dia Mirza and Manushi Chhillar who are also known for their philanthropy and social work. Indian star footballer Sunil Chhetri also graced the event. Paralympic athletes Navdeep Singh and Avani Lekhara were honoured on stage for drinking honour to the nation.  

The prestigious event was hosted by Emcee Shaina Khan while talented singer Annkur Pathakk and his team left everyone mesmerised with their soulful rendition. Dance performance by V Company was a major attraction of the evening. 

India mandated Corporate Social Responsibility in 2014, and since then the field has seen enormous growth potential for human development. With an aim to recognise the efforts of India Inc. in CSR, The CSR Journal Excellence Awards are organised annually.



The CSR Journal Excellence Awards 2024 – List of Winners

Category Organisation Position

 

Education & Skill Training HDFC Bank Ltd. 1

Hindustan Petroleum Corporation Limited (HPCL) 2

Amazon India 3

   

Health & Sanitation SBI Foundation 1

Sankara Eye Foundation India 2

Maruti Suzuki India Limited 3

   

Environment Coca-Cola India Foundation (wholly owned subsidiary of Coca-Cola India Private Limited) 1

  VFS Global 2

  Sudarshan Chemical Industries Ltd. 3

   

Women Empowerment & Child Welfare NMDC Limited 1

Bharat Aluminium Company Ltd. 2

Central Coalfields Limited 3

   

Agriculture & Rural Development Dabur India Ltd. 1

JM Financial Institutional Securities Limited 2

IndusInd Bank Ltd. 3

   

Sports Jindal Steel and Power 1

Hyundai Motor India Limited 2

SBI Foundation 3

   

 The CSR Journal is pleased to announce its Special Awardees for this year:

Awardee Name

  Award Title

 

PT Usha, Member of Parliament, Rajya Sabha and President, Indian Olympic Association The CSR Journal Lifetime Achievement Award 

Sunil Chhetri, Indian Footballer The CSR Journal Pride of India Award

Neerja Birla, Founder and Chairperson, Aditya Birla Education Trust The CSR Journal Woman Entrepreneur of the Year Award 

Upasana Kamineni Konidela, Founder, URLife and Vice Chairperson CSR, Apollo Hospital The CSR Journal EmpowerHER Champion Award 

Dia Mirza, Actor, Producer, UN Secretary General’s Advocate for Sustainable Development Goals The CSR Journal Sustainability & Climate Advocate of the Year Award 

Ayushmann Khurrana, Bollywood Superstar and National Ambassador of Child Rights, UNICEF India The CSR Journal Ambassador for India’s Youth Award

Vikrant Massey, Indian Actor The CSR Journal Inspiring Youth Icon Award

Manushi Chhillar, Miss World 2017 and Indian Actress  The CSR Journal Celebrity Voice of Change

Revant Himatsingka aka Food Pharmer, Influencer The CSR Journal Social Influencer of the Year Award 

 Navdeep Singh, Indian Paralympic Athlete The CSR Journal National Hero (Sports) Award

 Avani Lekhara, Indian Paralympic Athlete The CSR Journal National Hero (Sports) Award

 

This year, we have partnered with The Centre for Excellence in CSR, Tata Institute of Social Sciences, Mumbai, to evaluate a record number of applications for impactful programmes in the Corporate Social Responsibility domain for The CSR Journal Excellence Awards 2024. TISS was our Knowledge Partner for the shortlisting process and background research which was done for months ahead of the event. The winners were chosen based on personal assessment of the jurors, following a live Q&A round which was conducted virtually before the event with the representatives of the CSR programmes in the respective categories.   

Following is the list of our Honourable Jury Members at The CSR Journal Excellence Awards 2024

Dr. Arti Singh, IPS, Inspector General of Police, Mumbai

Shri. Gopal Shetty, Former Member of Parliament, Mumbai North & Former Member, Maharashtra Legislative Assembly

Manuj Jindal, Joint Managing Director, Maharashtra State Road Development Corporation (MSRDC)

Nidhi Chaudhari, IAS, Director, National Gallery of Modern Arts

Praveen Pardeshi, IAS, Chief Executive Officer, Maharashtra Institution for Transformation, Government of Maharashtra

Upma Dada Chawdhry, IAS (Retd.), Former Director, Lal Bahadur Shastri National Academy of Administration (LBSNAA), Mussoorie & Former Additional Chief Secretary, Government of Himachal Pradesh

This year, The CSR Journal’s Special Commendation Award in Corporate Social Responsibility was awarded to:

Capgemini (For project Digital Academy)

Novartis (For project Sustainable Livelihoods for People at High Risk of Unemployment and the Community)

Redington Limited 

Apollo Foundation Total Health (For project Total Health)

Mindspace Business Parks REIT (For project Durgam Chevu Lake Transformation)

Vizag General Cargo Berth Pvt. Ltd. (For project Aarogya)

Marico (For project Jalashay- Watershed Programme)

The CSR Journal Excellence Awards’ Special Awardees for 2024 are:

Annamrita Foundation - The CSR Journal's Food for Social Change

Wockhardt Foundation - The CSR Journal's Leader in Health & Community Wellbeing Award 2024

Friends Union for Energising Lives (FUEL) - The CSR Journal's Skill-a-Nation Pioneer and Leadership Award 2024

SBI Foundation

We extend heartfelt gratitude to our partners for The CSR Journal Excellence Awards 2024. The CSR Journal Excellence Awards 2024 is presented by The CSR Journal, India’s leading print and digital news organisation in the Corporate Social Responsibility domain in association with Dr. Shrikant Shinde Foundation, our Principal Partner Reliance Industries Limited and is powered by the Aakshya Infra Projects Private Limited, MSRDC, CIDCO and Maharashtra Tourism. 

Our Esteemed Partners: 

Official Partners: Ashoka Buildcon Ltd., Maharashtra State Power Generation Co. Ltd. (MAHAGENCO), Mangrove Foundation, Paradigm Realty, MMRDA, MIDC, SLUM Rehabilitation Authority Brihanmumbai and MHADA 

Venue Partner: Jio World Center

TV Partners: ABP News and ABP Majha 

Digital Partner: ABP Live

Knowledge Partners: Tata Institute of Social Sciences (TISS) 

Associate Partners: Playbox TV and Microscan 

PR Partner: AdFactors PR 

Gift Partners: Karma Art Gallery and MiRa Gifting Solutions 

Travel Partner: Tibro Tours Pvt Ltd 

Design Partner: Pixburg

Talent Partner: Live Clefs and On Call Entertainment 

The upcoming edition of The CSR Journal print magazine will feature insightful columns and articles about our prestigious awards show. To Subscribe please visit thecsrjournal.in/magazine


Kolkata-based Vikram Solar Limited files DRHP for IPO

 Kolkata-based Vikram Solar Limited, a leading solar photo-voltaic module manufacturer in India, has filed its draft red herring prospectus (DRHP) with SEBI to raise funds through an initial public offering (IPO). 


With over 15 years of industry experience as of 31 March 2024, Vikram Solar aims for an IPO comprising fresh issues of shares up to ₹1,500 crore and an offer for sale (OFS) of up to 17.45 million equity shares by its promoter group.


The IPO has a face value of ₹10 per equity share and includes a reservation for eligible employees, alongside a discount for those participating in the employee subscription portion. In consultation with the book-running lead manager, the company may also consider issuing specified securities up to ₹300 crore as a "pre-IPO placement." 


The offer will use a book-building process, allocating not more than 50% for qualified institutional buyers, a minimum of 15% to non-institutional bidders, and at least 35% for retail individual investors.


The company plans to use the net proceeds from fresh issuance, dedicating ₹793.36 crore for capital expenditure through investment in its wholly owned subsidiary, VSL Green Power Private Limited, to set up a 3,000 MW solar cell and module manufacturing facility. Additionally, ₹602.95 crore is earmarked for expanding the existing solar module manufacturing facility from 3,000 MW to 6,000 MW, along with allocations for general corporate purposes.


Vikram Solar commenced its manufacturing journey in 2009 with a capacity of 12.00 MW, expanding to 3.50 GW by the time of the DRHP filing. According to a CRISIL report, the company holds one of the largest capacities among non-captive manufacturers on the Ministry of New & Renewable Energy’s Approved List of Module Manufacturers (ALMM), with 2.43 GW listed as of July 2024. Recognized as a Tier 1 manufacturer by BloombergNEF since 2014, Vikram Solar continues to reside in this tier in 2024.


In response to growing market demand, the company is actively pursuing expansions to increase production capacity to 10.50 GW by Fiscal 2026 and 15.50 GW by Fiscal 2027, including a 3.00 GW solar cell manufacturing plant in Tamil Nadu. 


With a presence across 23 states and three union territories, Vikram Solar operates through a network of distributors, dealers, and system integrators. It has a sales office in the U.S. and a procurement office in China, supplying solar PV modules to customers in 39 countries as of March 31, 2024.


Vikram Solar serves clients, both PSU and private, including National Thermal Power Corporation, Neyveli Lignite Corporation, and more. With extensive experience in executing EPC projects, it has completed or is engaged in over 275 projects totaling 1.03 GW capacity as of March 31, 2024. The company is endorsed by the UN Global Compact and is among the 93 Indian firms approved by the Science Based Targets Initiative (SBTI) for its sustainability efforts. 


As of the DRHP date, Vikram Solar held an order book of 8,214.63 MW, significantly exceeding its total rated capacity for Fiscal 2024. 


In CY 2024, notable contracts included a 397.70 MW project from NTPC Renewable Energy and others, along with a significant 1.00 GW order from a JSW Energy subsidiary. Vikram Solar’s revenue grew by 21.11% to ₹2,510.99 crore in Fiscal 2024, with a profit after tax rise of 450.10%. 


The book-running lead managers for the IPO include Nuvama Wealth Management and others, with Link Intime India Private Limited as the registrar.


Federal Bank Partners with Bhashini to Enhance Chatbot Feddy with Vernacular Language Support

1st October 2024, Mumbai: Federal Bank, a leading private sector Bank in India, has signed a Memorandum of Understanding (MoU) with Bhashini, AI-Powered Language Translation Platform, to enable vernacular language support in its AI Virtual Assistant, Feddy. This partnership emerged as a result of Reserve Bank Innovation Hub (RBIH)’s local language initiative to promote banking in vernacular languages. It has significantly enhanced Feddy's capabilities, making it more accessible to a wider range of customers across India. 

Feddy, Federal Bank's AI-powered chatbot, is already a popular tool for customers seeking quick and convenient banking services. With the integration of Bhashini's language translation capabilities, Feddy is now able to respond to user queries in 14 different Indian languages, including Hindi, Bengali, Tamil, Telugu, Marathi, Gujarati, Kannada, Malayalam, Odia, Assamese, Punjabi, Urdu, Manipuri, and Bodo.

The MoU was signed by Ms. Shalini Warrier, Executive Director of Federal Bank, and Mr. Amitabh Nag, CEO of Bhashini. Speaking at the occasion, Ms. Shalini Warrier, Executive Director of Federal Bank, said, "India is a country of many languages, and we have always been in the forefront of catering to our unique customer needs.  By enabling vernacular language support, we are confident that Feddy will become more user friendly and accessible. Our partnership with Bhashini, along with the huge support we have received from Reserve Bank of India’s Innovation Hub (RBIH) has enabled us to enhance the level of customer experience we provide."

Mr. Amitabh Nag, CEO of Bhashini, said, "Partnering with Federal Bank to address language barriers in fintech, Bhashini aims to revolutionize financial services by integrating advanced multilingual voice communication technology with a voice-first approach. This collaboration seeks to ensure that banking services are accessible to all, regardless of linguistic background, thereby fostering greater inclusivity and setting a new standard for user engagement in the financial sector."

Mr. Rajesh Bansal, CEO of RBIH, praised this initiative and said "In a nation as diverse as India, true digital financial inclusion must account for the linguistic variety of our people. Local language banking, powered by AI-driven solutions like Bhashini, is not just an innovation but a necessity to ensure the digital revolution benefits a billion Indians. We are proud to support this partnership between Bhashini and Federal Bank, which marks a significant step in making digital financial services more accessible and inclusive. At RBIH, we remain committed to fostering collaborations that drive innovation and inclusivity across the financial ecosystem."

With the integration of Bhashini's language translation capabilities, Feddy is now capable of responding to user queries in 14 different Indian languages. This will make it easier for customers to get the information they need, when they need it, in the language they prefer.

About Federal Bank:


Federal Bank (NSE: FEDERALBNK) is a leading Indian private sector bank with a network of around 1508 banking outlets and 2013 ATMs/Recyclers spread across the country and the Bank’s total business mix (deposits + advances) stood at ₹ 4.62 Lakh Crore as on 31st March 2024. Capital Adequacy Ratio (CRAR) of the Bank, computed as per Basel III guidelines, stood at 16.13 % as on 31st March 2024. Federal Bank has Representative Offices in Dubai and Abu Dhabi that serve as a nerve centre for Non-Resident Indian customers in the UAE. The Bank also has an IFSC Banking Unit (IBU) in Gujarat International Finance Tec-City (GIFT City). Federal Bank is transforming itself, keeping its principles intact, into an organization that offers services beyond par. It has a well-defined vision for the future as a guidepost to its progress.