Standard Glass Lining Technology Limited’s Initial Public Offering to open on Monday, January 6, 2024, price band set at ₹133/- to ₹140/- per Equity Share

(L-R) Mr. Anjaneyulu Pathuri, Chief Financial Officer and Mr. Nageswara Rao Kandula, Managing Director at their IPO price band announcement.

 

Mumbai, December 31, 2024: Standard Glass Lining Technology Limited is one of the top five specialized engineering equipment manufacturers for the pharmaceutical and chemical sectors in India, in terms of revenue in Fiscal 2024, it has fixed the price band of ₹133/- to ₹140/- 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, January 6, 2024, for subscription and close on Wednesday, January 8, 2024. Investors can bid for a minimum of 107 Equity Shares and in multiples of 107 Equity Shares thereafter.

 

The IPO is a mix of fresh issues of up to Rs 210 crore and an offer of sale of up to 1,42,89,367 equity shares by Promoter Selling and Promoter Group and Other Selling Shareholders.

 

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

 

Standard Glass Lining Technology’s capabilities include designing, engineering, manufacturing, assembly, installation, and commissioning solutions and establishing standard operating procedures for pharmaceutical and chemical manufacturers on a turnkey basis. Its portfolio comprises core equipment used in the manufacturing of pharmaceutical and chemical products, which can be categorized into: Reaction Systems; Storage, Separation, and Drying Systems; and Plant, Engineering, and Services (including other ancillary parts). It is also one of India’s top three manufacturers of glass-lined, stainless steel, and nickel alloy-based specialized engineering equipment, in terms of revenue in Fiscal 2024, according to an F&S Report. It is also one of the top three suppliers of polytetrafluoroethylene (“PTFE”) lined pipelines and fittings in India, in terms of revenue in Fiscal 2024. It has been the fastest-growing company in the industry, and it has operated during the past three completed fiscals in terms of revenue.

 

The company possesses in-house capabilities to manufacture all the core specialized engineering equipment required in the active pharmaceutical ingredient (“API”) and fine chemical products manufacturing process. Over the last decade, it has supplied over 11,000 products. Its marquee customer base includes 30 out of approximately 80 pharmaceutical and chemical companies in the NSE 500 index as of June 30, 2024. It operates through its eight manufacturing facilities spread across a built-up/floor area of over 400,000 sq. ft., strategically located in Hyderabad, Telangana, the “Pharma Hub” of India, which accounted for 40.00% of the total Indian bulk drug production in Fiscal 2024.

 

IIFL Capital Services Limited, and Motilal Oswal Investment Advisors Limited are the book-running lead managers, and KFin Technologies Limited is the registrar of the issue.

 

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 investors, 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 Issue	OFS (1,42,89,367 equity shares)	Total
Lower Band (@Rs 133)	Rs 210 crore	Rs 190.05 crore	Rs 400.05 crore
Upper Band (@Rs 140)	Rs 210 crore	Rs 200.05 crore	Rs 410.05 crore

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Kind Regards

Ankit Sahu

Account Manager | IPO PR

CONCEPT PUBLIC RELATIONS

T: +9122 40558900 M: +91 9584880377

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RECPDCL Handovers Rajasthan IV 4B Power Transmission Limited, a Transmission Project Special Purpose Vehicle to Dineshchandra R. Agrawal Infracon Private Limited

REC Power Development and Consultancy Limited (RECPDCL), a wholly owned subsidiary of REC Limited, the Maharatna CPSU under the aegis of Ministry of Power, has handed over a project specific SPV (Special Purpose Vehicle). viz, Rajasthan IV 4B Power Transmission Limited to Dineshchandra R. Agrawal Infracon Private Limited on 30^th December, 2024 at Gurugram.

 

Dineshchandra R. Agrawal Infracon Private Limited emerged as the Transmission Service Provider (TSP) through Tariff-Based Competitive Bidding (TBCB) process conducted by RECPDCL, the Bid Process Coordinator, for development of the transmission project on Build, Own, Operate & Transfer (BOOT) basis.

 

The transmission scheme is planned for evacuation of 3.5 GW of RE power from Rajasthan Renewable Energy Zone, which covers establishment of 765/400 kV, 2 X1500 MVA substation near Merta (Rajasthan), 577.97 Kms of 765 kV line and 72.8 Kms of 400 kV line along with associated works. The estimated cost of the project is Rs. 5177.41 Crores.

 

The SPV was handed over by Shri T.S.C. Bosh, CEO, RECPDCL to Shri Amit Kumar, Sr. Vice President, Dineshchandra R. Agrawal Infracon Private Limited in the presence of Senior Officials of RECPDCL, Dineshchandra R. Agrawal Infracon Private Limited and Central Transmission Utility of India Limited. The project is targeted for implementation in 24 months.

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प्रेस विज्ञप्ति

आरईसीपीडीसीएल ने राजस्थान IV 4बी पावर ट्रांसमिशन लिमिटेड, एक ट्रांसमिशन प्रोजेक्ट स्पेशल पर्पज व्हीकल को दिनेशचंद्र आर. अग्रवाल इंफ्राकॉन प्राइवेट लिमिटेड को सौंपा

आरईसी पावर डेवलपमेंट एंड कंसल्टेंसी लिमिटेड (आरईसीपीडीसीएल), विद्युत मंत्रालय के अंतर्गत महारत्न सीपीएसयू, आरईसी लिमिटेड की पूर्ण स्वामित्व वाली सहायक कंपनी, ने 30 दिसंबर, 2024 को गुरुग्राम में एक परियोजना विशिष्ट एसपीवी (स्पेशल पर्पज व्हीकल) अर्थात राजस्थान IV 4बी पावर ट्रांसमिशन लिमिटेड को दिनेशचंद्र आर. अग्रवाल इंफ्राकॉन प्राइवेट लिमिटेड को सौंप दिया है।

दिनेशचंद्र आर. अग्रवाल इंफ्राकॉन प्राइवेट लिमिटेड, बिल्ड, ओन, ऑपरेट एंड ट्रांसफर (बीओओटी) आधार पर ट्रांसमिशन परियोजना के विकास के लिए बोली प्रक्रिया समन्वयक आरईसीपीडीसीएल द्वारा आयोजित टैरिफ-आधारित प्रतिस्पर्धी बोली (टीबीसीबी) प्रक्रिया के माध्यम से ट्रांसमिशन सेवा प्रदाता (टीएसपी) के रूप में उभरी।

ट्रांसमिशन योजना राजस्थान अक्षय ऊर्जा क्षेत्र से 3.5 गीगावाट नवीकरणीय ऊर्जा की निकासी के लिए बनाई गई है, जिसमें मेड़ता (राजस्थान) के पास 765/400 केवी, 2 X1500 एमवीए सबस्टेशन की स्थापना, 577.97 किलोमीटर 765 केवी लाइन और 72.8 किलोमीटर 400 केवी लाइन के साथ-साथ संबंधित कार्य शामिल हैं। परियोजना की अनुमानित लागत 5177.41 करोड़ रुपये है।

आरईसीपीडीसीएल के सीईओ श्री टीएससी बोश ने एसपीवी को दिनेशचंद्र आर. अग्रवाल इंफ्राकॉन प्राइवेट लिमिटेड के वरिष्ठ उपाध्यक्ष श्री अमित कुमार को आरईसीपीडीसीएल, दिनेशचंद्र आर. अग्रवाल इंफ्राकॉन प्राइवेट लिमिटेड और सेंट्रल ट्रांसमिशन यूटिलिटी ऑफ इंडिया लिमिटेड के वरिष्ठ अधिकारियों की मौजूदगी में सौंपा। इस परियोजना को 24 महीने में क्रियान्वित करने का लक्ष्य रखा गया है।

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Delhi-based Refrigeration Sealing Solutions Company Ajay Poly Limited files DRHP with SEBI for IPO

Delhi-based Refrigeration Sealing Solutions Company, Ajay Poly Limited, has filed its draft red herring prospectus (DRHP) with the market regulator, Securities and Exchange Board of India (SEBI), to raise funds through Initial Public Offering (IPO).

The IPO with a face value of Re 1 is a mix of fresh issue of shares of up to Rs. 238 crore and an offer for sale (OFS) of up to 93,00,000 equity shares each by Promoter and Investor Selling Shareholders. 

Offer of Sale consists of shareholders selling shares up to 37, 00,000 equity shares by Bina Jain, up to 28,00,000 equity shares by Rajeev Jain, and up to 28,00,000 equity shares by Nitin Jain.

The company, in consultation with the BRLMS, may consider a pre-IPO placement of specified securities aggregating up to Rs. 47.60 crores. If the pre-IPO placement is completed, the amount raised under the pre-IPO placement will be reduced from the fresh issue. 

The proceeds from the fresh issue to the extent of Rs. 119 crores for repayment or prepayment in full or part of all or certain outstanding borrowings availed by the Company; Rs 64.97 crore for funding capital expenditure requirements towards the purchase of equipment, plant, and machinery at Noida Unit-IV, Noida Unit-V, Karegaon Unit, Shirwal Unit, Chennai Unit, and its registered office; and general corporate purposes.

The Offer is being made through the book-building process, wherein not more than 50% of the net offer is allocated to qualified institutional buyers, and not less than 15% and 35% of the net offer is assigned to non-institutional and retail individual investors respectively.

Ajay Poly Limited stands as one of India's foremost manufacturers of refrigeration sealing solutions, profile extrusion, and glass products for the appliance industry, holding significant market shares in Fiscal 2024, according to an F&S Report mentioned in the DRHP. The company commands 61% of the market in refrigeration sealing solutions (gaskets), 25.2% in rigid profile extrusion, and 45.96% in total profile extrusion. Additionally, it holds 31.3% and 15.4% market shares in household refrigeration glass shelves and overall toughened glass products for the appliance industry, respectively.

Specializing in a diverse range of products, Ajay Poly offers toughened glass solutions, polymer extrusion products, magnetic materials, and magnet powders. Its product portfolio includes refrigerator door gaskets, thermoplastic extruded profiles, magnetic strips, polymer sheet extrusions, refrigerator glass shelves, refrigerator glass doors, microwave glass doors, washing machine glass lids, and various toughened glass components for appliances. The company caters to sectors such as consumer durables, commercial refrigeration, and automotive industries.

Ajay Poly collaborates closely with leading multinational and Indian appliance manufacturers, contributing to the design and development of custom solutions. Its expansive customer base includes prominent multinational OEMs such as Haier Appliances (India), BSH Household Appliances, Seaga India, and Frigoglass India, alongside renowned Indian OEMs like Godrej & Boyce, Voltbek Home Appliances, and IFB Refrigeration. High customer retention highlights the company's focus on strong, long-term partnerships.

The company operates ten strategically located manufacturing facilities across India, optimizing logistics and reducing lead times for delivery. These facilities are positioned near major appliance manufacturing hubs in key regions: five in Greater Noida (NCR), two in Maharashtra (Karegaon and Shirwal), and one each in Sanand (Gujarat), Mohali (Punjab), and Chennai (Tamil Nadu).

As of June 30, 2024, Ajay Poly boasts impressive annual installed capacities, including 91,353,600 meters of soft profile extrusion, 14,040,000 meters of rigid profile extrusion, 3,903,600 square meters of toughened glass, 63,648,000 meters of magnetic strips, 12,532 tonnes of PVC compound, 2,156 tonnes of epoxidized soybean oil, 6,000 tonnes of sheet extrusion, and 10,296 tonnes of magnet powder.

The company has undertaken backward integration initiatives, to enhance its production capabilities in key areas such as soft profile extrusion (gasket production), in-house PVC compound and plasticizer manufacturing, machinery assembly, and the production of magnet powders and strips. The strategic integration, coupled with a robust product portfolio and a strong customer base, positions Ajay Poly Limited as a leader in the appliance industry, delivering value-driven solutions with efficiency and innovation.

In the past three fiscal years, revenue from operations has grown at a CAGR of 60.38% from ₹141.67 crore in Fiscal 2022 to ₹364.41 crore in Fiscal 2024. Profit after tax grew at a CAGR of 157.08% from ₹3.39 crore in Fiscal 2022 to ₹22.41 crore in Fiscal 2024.

For the three months ended June 30, 2024, revenue from operations stood at Rs. 130.13 crore, and profit after tax stood at Rs. 12.29 crore.   

Motilal Oswal Investment Advisors Limited, and SBI Capital Markets Limited are the sole book-running lead managers and KFin Technologies Limited is the registrar to the issue. The equity shares are proposed to be listed on the BSE Limited and National Stock Exchange of India Limited.

Mumbai-based Gem Aromatics Limited files DRHP with SEBI for IPO

Mumbai-based Gem Aromatics Limited, an established manufacturer of specialty ingredients, including, essential oils, aroma chemicals and Value-Added Derivatives in India with a track record of over two decades has filled its draft red herring prospectus (DRHP) with the market regulator, Securities and Exchange Board of India (SEBI), to raise funds through Initial Public Offering (IPO).

The IPO with a face value of Rs 2 is a mix of fresh issue of shares of up to Rs. 175 crore and an offer for sale (OFS) of up to 89,24,274 equity shares each by Promoter and Investor Selling Shareholders. 

Offer of Sale consists of shareholders selling shares up to 33,96,187 equity shares by Vipul Parekh, up to 16,26,183 equity shares by Kaksha Vipul Parekh, up to 16,70,835 equity shares by Yash Vipul Parekh, and up to 22,31,069 equity shares by dōTERRA Enterprises, Sàrl.

The company, in consultation with the BRLMS, may consider a pre-IPO placement for an amount of aggregating up to Rs. 35 crore. If the pre-IPO placement is completed, the amount raised under the pre-IPO placement will be reduced from the fresh issue. 

The proceeds from the fresh issue to the extent of Rs. 140 crore for prepayment and/or repayment, in full or in part, of all or a portion of certain outstanding borrowings availed by the Company and its Subsidiary, Krystal Ingredients Private Limited; and general corporate purposes.

The Offer is being made through the book-building process, wherein not more than 50% of the net offer is allocated to qualified institutional buyers, and not less than 15% and 35% of the net offer is assigned to non-institutional and retail individual investors respectively.

Gem Aromatics Ltd has established itself as a leading manufacturer of specialty ingredients in India, including essential oils, aroma chemicals, and value-added derivatives, with over two decades of experience. Its roots in the industry date back to 1915, providing a solid foundation to capitalize on the growing market demand, according to a F&S Report mentioned in the DRHP.

The company began its operations in Fiscal 1999, focusing on mint and mint derivatives such as spearmint and piperita. To diversify its offerings, Gem Aromatics ventured into the production of clove and clove derivatives in 2009. Over the years, it has built a diverse product portfolio ranging from base ingredients to value-added derivatives. These products cater to industries like oral care, cosmetics, nutraceuticals, pharmaceuticals, wellness, pain management, and personal care.

Gem Aromatics is recognized as one of India’s leading manufacturers of essential oils and value-added derivatives by volume and value, specializing in products derived from mint and clove oil. The company holds a dominant position in essential oil-based products and derivatives such as mint, clove, eucalyptus, and other oils. Notably, it is the largest procurer of Piperita oil and the largest processor of DMO, Clove Oil, Eugenol, and Eucalyptus Oil in India as of FY 2024.

With robust in-house manufacturing and R&D capabilities, Gem Aromatics has consistently delivered high-quality products and launched innovative solutions. It offers 70 products across four categories: mint and mint derivatives, clove and clove derivatives, phenol, and other synthetic and natural ingredients. The company has earned the “Three Star Export House” status, awarded by the Directorate General of Foreign Trade, Ministry of Commerce and Industry, Government of India.

In 2019, dōTERRA Enterprises invested in Gem Aromatics, initially sourcing spearmint and piperita. Over the past three fiscal years and the six-month period ending September 30, 2024, the company has supplied 18 products to dōTERRA Global Limited. Its client portfolio includes leading names like Colgate-Palmolive, Dabur, Patanjali, SH Kelkar, Rossari Biotech, and Symrise, among others. Gem Aromatics serves 170 domestic customers and 30 international clients across 13 countries, spanning the Americas, Asia, Africa, and Australia.

The company operates three advanced manufacturing facilities located in Budaun (Uttar Pradesh), Silvassa (Dadra and Nagar Haveli), and Dahej (Gujarat). It also has a dedicated R&D facility in Maharashtra, supported by a team of 15 scientists. This facility is instrumental in driving technological advancements and optimizing formulations for value-added derivatives.

By leveraging its rich legacy, innovative capabilities, and strategic partnerships, Gem Aromatics Ltd is poised to continue its leadership in the specialty ingredients industry while driving sustainable growth.

Revenue from operations increased by 6.51% to ₹ 452.45 crore in Fiscal 2024 from ₹ 424.79 crore in Fiscal 2023. Profit for the fiscal 2024 was ₹ 50.10 crore as compared to ₹ 44.67 crore for Fiscal 2023.

For the six months ended September 30, 2024, revenue from operations stood at Rs. 204.89 crore and profit after tax stood at Rs. 18.32 crore.   

Motilal Oswal Investment Advisors Limited is the sole book-running lead manager and KFin Technologies Limited is the registrar to the issue. The equity shares are proposed to be listed on the BSE Limited and National Stock Exchange of India Limited.

INDIA: WORLD’S LARGEST DEMOCRACY BUT WITH SLOWEST JUDICIARY IN THE WORLD Ø BACKLOG OF OVER 5 CRORE CASES PENDING IN INDIAN COURTS

From Left To Right: Adv Sandeep Jalan

Shri Venkatraman

Shri Bhagvanji Raiyani, National Chairman Emeritus, Forum For Fast Justice 

Shri Ashish Mehta, Ex.President, Society For Fast Justice and Trustee

Rajendra Thacker, Trustee

MUMBAI, 28th DECEMBER, 2024I : India is world’s largest democracy, having slowest judiciary in the world with a backlog of over 5 crore cases in various courts of India as on December 2023. It is the dire necessity of Indian public that they should get a timely justice within reasonable time frame for which the onus lies on Indian Government. The Govt. should take all the necessary required steps to mitigate the hardship of common men like increasing number of judges in various courts, the number of maximum hearings should be cut down to say 4 per case and passing of orders within a fixed time frame. No priority of hearings should be given to politicians & VIPs but they should be considered at par with the general public, who deserve speedy delivery of justice, stated Bhagwanji Bhai Raiyani, Chairman of Forum For Fast Justice.

 

Forum for Fast Justice ( Forum) is a trust registered in Mumbai in 2008, is the only kind of NGO in the country, rather in the world. It has presence in 23 states of India, has set up 115 centers, namely Societies for Fast Justice, affiliated to the Delhi-based National Federation of Societies for Fast Justice.

 

Mr. Raiyani further stated that “We need to insist on the Union Government for the following points for speedy disposal of cases & Quick justice to the Indian Public”:

 

To increase judges strength as directed by Supreme Court in 2002 judgment from 10.50 to 50 judges per million population.

 

To honour the 16 points programme promised in BJP 2014 election manifesto to fast tract judiciary, which has been so far totally neglected.

 

Speedy and time bound disposal of over 5 crore cases pending in Indian Courts as on December 2023.

 

To save the suffering of crores of families, financially and mentally broken, making judiciary a fast moving, time bound vehicle. After all, “Justice delayed is justice denied”.

 

To resolve frequent conflicts with the higher judiciary in a timely manner.

 

The impact of poor justice delivery system results into:

 

(i) Corruption and degrading Moral standards .

 

(ii) Attitude develops for swallowing injustice.

 

 

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(iii) Killing the spirit of fighting for justice.

 

(iv) Criminals in Society emboldened.

 

(v) Criminals in politics prosper.

 

(vi) Governance becomes inefficient and unfriendly.

 

(vii) Corruption in private and public sector flourishes.

 

(viii) Judges tempt to become corrupt.

 

(ix) A crop of middlemen operators conduct rampant corruption.

 

(x) Investment climate gets adversely affected.

 

(xi) Environmental pollution increases.

 

(xii) Lawyers tend to become exploitative.

 

(xiii) Billions of productive man-hours wasted.

 

(xiv) Democratic values suffer.

 

(xv) Nation losing image at the international level.

 

(xvi) Growth suffers: Country ruins.

 

(xvii) Encourages human rights violations.

 

(xviii) Rights of women, children, prisoners and socially backwards not protected.

 

Trustee Rajendra Thakkar and Trustee Ashish Mehta informed that they have organized a Public Meeting on Judicial Reforms on 5th January, 2025 at Ambedkar Hall, Dadar, Mumbai, which will be addressed by the leading & prominent advocates.

 

FPOs deliberate on Challenges of Commodity Derivatives Suspension

~ Represented by 10,000+ farmers, NCDEX IPFT hosts the landmark meeting ~

• FPOs discuss and share the critical impact of suspensions of Commodity Derivatives and way forward

• Highlight the research by  IIT Bombay (SJMSOM), on the ‘Impact of suspensions of Commodity derivatives on the agri Ecosystem’

Mumbai, 26th December 2024:   Farmer Producer Organizations (FPOs) from Maharashtra and Madhya Pradesh, collectively representing over 10,000 farmers gather at IIT Mumbai. This unique forum organized by NCDEX IPFT  facilitated a dialogue on the critical impact of the suspension of commodity derivatives on farmers and their livelihood.

 A study conducted by Shailesh J. Mehta School of Management (SJMSOM), IIT Bombay, titled “Impact of Suspension of Commodity Derivatives on the Agri Ecosystem,” was also presented at the event. The research underscores the critical role of commodity derivatives in price discovery and risk management for farmers and stakeholders in the agri value chain.

Shri Pasha Patel Chairman of the State Agriculture Price Committee, Maharashtra addressed the meet and opined, “The commodity derivatives markets are an extension of the spot markets. As price discovery is an important function of Commodity Exchanges – FPOs must have access to it. Government initiatives in collaboration with the Exchange can yield results that can empower the farmers/FPOs to mitigate their price risk establishing a robust and sustainable agri ecosystem”

India is the 4th largest producer of oil and oilseeds in the world accounting for 10 percent of global production. Government has launched a mission worth US$ 1.3 billion (Rs. 11,000 crore) FY’25 aimed at reducing the dependency on imported edible oils and achieving self-sufficiency in oilseed production. Commodity derivatives market played a vital role in empowering farmers by providing a transparent price discovery mechanism, mitigating price volatility and promoting sound decision-making by all agri market participants. However, the suspension of Exchange-Traded Commodity Derivatives (ETCDs) has disrupted these benefits, leaving farmers vulnerable to inconsistent mandi prices and volatile market conditions. 

The SJMSOM IIT Bombay report Impact of Suspension of Commodity Derivatives on the Agri Ecosystem highlighted that  

• commodity derivatives market and Futures trading provides a transparent price discovery process for Farmers' Producers (FPOs) to make informed decisions regarding their agricultural produce (right from sowing to selling).

• commodity derivatives serve as market-driven tools for price risk management by the entire commodity value chain in managing the price volatility and inherent risks in the agro economic space.

• commodity price fluctuations are inevitable and depends primarily upon market dynamics of Demand & Supply.

 

 Dr. Sarthak Gaurav, IIT Bombay, the author of the aforementioned report, commented that, “Commodity derivative contracts play an important role in price discovery and risk hedging, which is apparent from the analysis. The suspension of futures commodities trading has negatively impacted better price realization because of the absence of reference pricing mechanism and thus also disrupted price risk management practices of participants in the commodity value chain. Consequently, the agri-ecosystem in whole has been affected due to hurdles in market access, participation and securing fair prices."

The SJMSOM, IIT Bombay combined primary and secondary research through survey and in-depth interview of physical market participants (including farmers and FPOs) in three states i.e. Maharashtra, Rajasthan, and Madhya Pradesh with focus on Mustard Seed, Soya Oil, Soybean, Chana and Wheat. It primarily examined the relationship between futures and spot prices, volume, and volatility and presented commodity-specific price variation associated with the suspension. The report shared insights pertaining to futures trading for physical market participants including the farming community whose experiences in the context of futures trading remain understudied. Entire report is available on https://www.iitb.ac.in/

Ola Electric Accelerates EV Revolution with Record Expansion to 4,000 Stores Nationwide

● Opens 3,200+ new stores co-located with service centres, making it India’s largest EV expansion at one go

● Expansion spans beyond metros and Tier 1 & 2 cities into smaller towns and tehsils, democratising access to EVs nationwide

● Opens priority registrations for MoveOS 5 beta, with features such as Group Navigation, Live Location Sharing, Road Trip Mode powered by Ola Maps, among others

● Announces offers worth up to ₹25,000 on S1 portfolio 

National December 25, 2024: Ola Electric, India’s largest pure-play EV company, today announced the expansion of its network to 4,000 stores nationwide, registering a four-fold increase from the existing network. One of the world's most significant expansions of the EV footprint, bolstering access, growth, and adoption in the country, Ola Electric cements its leadership in the space. With the launch of 3,200+ new stores co-located with service facilities, the company is committed to driving large-scale EV adoption enabling deeper penetration beyond tier-1 and tier-2 cities to almost every town and tehsil across India. With this expansion, Ola Electric has fulfilled its promise under its #SavingsWalaScooter campaign. 

Bhavish Aggarwal, Chairman & Managing Director, Ola Electric, said, “We promised, and now we have delivered! Today marks a significant milestone in India’s EV journey as we expand our network to every city, town, and taluk. With our newly opened stores co-located with service centres, we have completely  redefined EV purchase & ownership experience, setting new benchmarks with our #SavingsWalaScooter campaign. As we continue to scale, we are committed to pushing the boundaries of innovation and accelerating the country’s journey towards #EndICEAge.”

Offers worth up to ₹25,000 on S1 portfolio

Marking the massive expansion of the network, Ola Electric has rolled out attractive offers with benefits ranging up to ₹25,000 on the S1 portfolio, exclusively available on December 25, 2024. Customers can visit their nearest newly launched Ola Store and get a flat discount of up to ₹7,000 on S1 X portfolio. Besides, customers can avail additional benefits up to ₹18,000, including ₹5,000 on select credit card EMIs and MoveOS benefits worth ₹6,000. 

Limited-Edition Ola S1 Pro Sona 

Ola S1 Pro Sona, launched to mark the massive network expansion with real 24-karat gold plated elements, has attracted a large number of footfalls across Ola Stores, with customers actively participating in #OlaSonaContest to take home the premium limited-edition scooter. Representing the pinnacle of Ola Electric’s innovation - combining luxury with functionality, Ola Sona comes with the immersive "Sona Mood," which offers a premium riding experience, a gold-themed interface for the Ola app and a customised MoveOS dashboard. The dashboard allows users to personalise ride modes and settings, enhancing their journeys. 

MoveOS 5 

Making the S1 portfolio the smartest ever, the company has opened priority registrations for MoveOS 5 beta with features designed to enhance the overall riding experience. With the rollout, Ola riders can now gain access to features such as Group Navigation, Live Location Sharing, Road Trip Mode powered by Ola Maps, Smart Charging, Smart Park, TPMS alerts, among others.  

The company recently announced the launch of its Gig and S1 Z scooter range, comprising Ola Gig, Ola Gig+, Ola S1 Z, and Ola S1 Z+, available at an introductory price of ₹39,999 (ex-showroom), ₹49,999 (ex-showroom), ₹59,999 (ex-showroom), and ₹64,999 (ex-showroom), respectively. The new range of scooters offers durable, reliable, affordable, and flexible solutions, including removable batteries, fulfilling personal and commercial use cases of rural, semi-urban, and urban customers. Reservations for the Gig and S1 Z series are open at just ₹499, and deliveries will begin in April 2025 and May 2025, respectively.

Ola Electric also offers an expansive S1 portfolio with six offerings across attractive price points catering to varied customer requirements. While the premium offerings S1 Pro and S1 Air are priced 

at ₹1,34,999 and ₹1,07,499, respectively, the mass market offerings include the S1 X portfolio (2 kWh, 3 kWh, and 4 kWh) priced at ₹74,999, ₹87,999, and ₹101,999, respectively.

At its annual flagship event, 'Sankalp', the company announced the launch of its Roadster motorcycle series, comprising Roadster X (2.5 kWh, 3.5 kWh, 4.5 kWh), Roadster (3.5 kWh, 4.5 kWh, 6 kWh), and Roadster Pro (8 kWh, 16 kWh). The motorcycles offer many segment-first technology and performance features, with their prices starting from INR 74,999, INR 1,04,999, and INR 1,99,999, respectively.

About Ola Electric Mobility Limited

Ola Electric Mobility Limited is India's leading electric vehicle (EV) manufacturer. It specialises in the vertical integration of technology and manufacturing for EVs and their components, including battery cells. The Ola Futurefactory in Tamil Nadu, where EVs and critical components are produced, is developing as India's most significant EV hub. It is supported by Ola's Bengaluru-based Battery Innovation Centre (BIC), dedicated to advancing cell and battery technology. Ola's R&D efforts span India, the UK, and the US, focusing on innovative EV products and core components. Ola maintains a direct-to-customer distribution network with more than 800 stores across India and a robust online presence, making Ola Electric the largest company-owned network of automotive experience centres in the country. 

 

Social Media Copies: 

Twitter: 

Electric mobility at scale! With 4,000 Ola Stores nationwide, we’re driving India’s largest EV revolution and tapping every pincode. This is not just growth—it’s a movement. From MoveOS 5 to S1 Pro Sona, we’re redefining what’s possible in mobility to #EndICEAge.

LinkedIn:

We’re shaping the future of mobility at scale! Today, with 4,000 Ola Stores nationwide, we’ve built India’s largest EV network that reaches every pincode. This milestone is about creating an EV ecosystem that is accessible, affordable and aspirational. From cutting edge tech in MoveOS 5 to the limited-edition S1 Pro Sona, we’re redefining mobility to #EndICEAge.

Utkarsh Small Finance Bank Limited Grows Stronger with New Banking Outlet in Handewadi

Navi Mumbai – Utkarsh Small Finance Bank Limited (Utkarsh SFBL) is pleased to announce the inauguration of its new banking outlet in Handewadi- Pune, Maharashtra. This expansion underscores the Bank's commitment to enhancing financial inclusion and providing essential banking services to the residents of Handewadi- Pune, Maharashtra. With this launch, the bank has reached 1015 banking outlets across the country and 80 in the state of Maharashtra.

Commenting on the expansion, Mr. Govind Singh, MD & CEO, Utkarsh Small Finance Bank Limited said, "Our new banking outlet in Handewadi reflects our dedication to strengthening our network in Maharashtra. Known for its rich history and strong community ties, Handewadi is an integral part of Pune. This region is famous for its landmarks such as the serene Aga Khan Palace, a site of historical importance in India's freedom struggle, and the vibrant Koregaon Park, known for its cultural richness and community spirit. The opening of this outlet marks a step forward in our journey to support the dynamic and fast-growing population of Handewadi, fostering growth and development in the city."

The Bank is in a position to provide an array of financial products and services to its customers, which includes savings and current accounts, fixed deposits, and recurring deposits. To cater to the aspirations of its customers, the Bank offers various loan products such as housing loans, business loans, and loans against property.

With its banking outlet infrastructure, digital banking capabilities, and ATM network, the Bank offers integrated customer service. Apart from this, the Bank offers multiple channels such as Internet banking, Mobile banking, Unified Payment Interface (UPI), and Call Centre.

Utkarsh SFBL aims to provide financial services to underserved and unserved customer segments while serving other segments of society, including micro-banking loans (JLG loans), MSME loans, housing loans, and loans against property, amongst others. The Bank also provides the facility for customers to open a bank account without visiting the branch through the tablet-based application-assisted model, "Digi On-Boarding."

Gadar 2 Director Anil Sharma Opens Up About 'Vanvaas' and His Creative Journey

I just wanted to make Vanvaas at this point in my life,” Anil Sharma on Vanvaas Success

Veteran filmmaker Anil Sharma, known for his blockbuster hit Gadar: Ek Prem Katha, is back with his latest project, Vanvaas, which stars the versatile Nana Patekar and Utkarsh Sharma in lead roles. The film, which released in theatres on December 20, 2024 marks a significant shift from his previous high-octane action dramas, is a heartfelt family drama that Sharma describes as a personal creation. 

In an interview, the director shared his thoughts on the making of Vanvaas and his evolving approach to filmmaking. He revealed that after the immense success of Gadar 2, he was determined to craft something that would resonate on a deeper, more personal level. "I thought, Gadar has given me so much. Now, as a director, my job is to make a family film that I can give to the audience," said Sharma.

The director further recounted how the idea for Vanvaas came about. "While I was thinking of making Vanvaas, I also got a call from Nana asking, 'Now you will do this film, or you will start some big action film?' I told him I would do it, and with Nana Sir only, because I feel like doing it with him; we had already talked about it during Gadar 2," Sharma explained.

For Sharma, Vanvaas isn't just another film—it's a personal reflection. "I just wanted to make Vanvaas at this point in my life. Some films like Gadar you make for the public. Once in a while, you make Vanvaas for yourself," he added.

The film has struck a chord with audiences, with many praising its emotional depth and compelling performances. With Vanvaas, Sharma seems to have found a perfect balance between his passion for storytelling and his connection to his audience. "Now people are liking it; I am so happy," he concluded.

Vanvaas backed by Zee Studios and directed by Anil Sharma have previously collaborated for blockbusters like Gadar: Ek Prem Katha and Gadar 2 and are now gearing up to surprise the audience with their third film Vanvaas. 

Written, produced, and directed by Anil Sharma, Vanvaas released in theaters on December 20, 2024. A Zee Studios Worldwide Release starring Nana Patekar, Utkarsh Sharma, and Simratt Kaur in the lead.

The Rabbit House" Team dazzles even before the release

 

The team of The Rabbit House, an eagerly awaited feature . With the trailer surpassing 1 million views on YouTube within a week, the buzz surrounding the film has been palpable, and Mumbai Medis welcomed the cast and crew with great enthusiasm

The Rabbit House Movie, set against the picturesque landscapes of Himachal Pradesh, The Rabbit House tells the story of a newlywed woman navigating a restrictive marriage with a partner who has OCD. Through her journey, the film explores themes of mental health, societal norms, and personal liberation, presenting a poignant narrative that resonates deeply with modern audiences.

The Rabbit House has already made waves internationally, The film, which has already won 21 prestigious international awards, promises to be a cinematic gem, combining thrilling storytelling with breathtaking visuals and soul-stirring music. Winning the Award of Merit at the Accolade Competition 2024 and the Best Feature Film award at the Chauri Chaura International Film Festival. Amit Riyaan also earned the Best Actor award at the latter festival, further raising expectations for the film.

Produced by Krishna Pandhare & Sunita Pandhare and written, directed, and edited by Vaibhav Kulkarni, the film is set to release on December 20, 2024.

The film’s captivating storyline, stellar performances, and breathtaking visuals have already created a buzz, positioning The Rabbit House as one of the most anticipated releases of the year.

With its bold narrative and heartfelt performances, The Rabbit House promises to leave an indelible mark on Indian cinema and resonate deeply with audiences nationwide.

Story, Screenplay, Dialogues:-  Vaibhav Kulkarni

Director & Editor:- Vaibhav Kulkarni

Producer:- Sunita Pandhare

Executive Producer:- Krishna Pandhare

Director of Photography:- Pratik Pathak

Music & Original score:- Padmanabh Gaikwad

Makeup, Hair, and Art:- Suresh Kumbhar

Costume Designer:- Pranoti Pathak

Associate DOP and BTS:- Abhi Hajare

Sound Designer- Sanket Dhotkar

Character Cast

Shrikant:- Amit Riyaan

Komal:- Karishma

Mohit:- Padmanabh Gaikwad 

Bickybhai:- Gagan Pradeep

Nimmi:- Preeti Sharma

HP Police:- Suresh Kumbhar

Key Highlights:

Actor Amit Riyaan - Known for his roles in Hindi and Marathi movies like Satya 2, Rajwade and Sons, Aasud. He's worked with actors like Atul Kulkarni, Vikram Gokhle and many top actors in his career.

He add his roots connected with the Punekars

Actor Padmanabh Gaikwad: He's a singer, music composer and now acting in the movie.

Composed songs for  "The Rabbit House" as well along with acting in the film.

He has worked in the music department for Ashutosh Gowariker's "Panipat" and Emraan Hashmi's "Ek Thi Daayan".

Winner of Saregama Pa Little Champs. Been in the music industry for quite a time now.

Actress Karishma is the debutant. Her first film as a lead actress.

Director Vaibhav Kulkarni 

In his debut film, 'The Rabbit House,' Vaibhav assumed multiple roles as the writer, director, and editor, showcasing his ability to craft compelling narratives and bring them to life on screen.

Alongside his work in feature films, Vaibhav has made a mark in the realm of short films. He directed the acclaimed short film 'Zingar' .

Produced by Krishna Pandhare - Sunita Pandhare 

They are into the Finance and Investment sector. Mr. Krishna Pandhare, a veteran of the financial industry with over 25 years of experience in the mutual funds business.And first time producers with this film.

Palasamudram National Painting Camp organized by NACIN with Sir JJ School of Art, Architecture and Design

Mumbai, December 19, 2024: The National Academy of Customs, Indirect Taxes and Narcotics (NACIN) organized the ‘Palasamudram National Painting Camp’ in association with the Sir JJ School of Art, Architecture and Design. This prestigious event brought together 25 renowned artists from contemporary Indian art, all distinguished alumni of the Sir JJ School of Art, Architecture, and Design. The camp was organized as part of the beautification through the creation of unique and meaningful artworks.

 The painting camp, commenced on December 13th and hosted its closing ceremony on December 19, 2024 at the NACIN campus. Over this period, the celebrated artists contributed their exceptional talents to transform the campus into a vibrant space that reflects the rich cultural heritage and creativity of India. The initiative not only aimed to enhance the aesthetic appeal of the campus but also to provide a platform for fostering artistic exchange and collaboration.

The event was curated and implemented with the joint efforts by Mr. Shashikant Kakade, Registrar, Sir JJ School of Art, Architecture and Design, Mumbai and Prof. Rajanish Kamat, Vice Chancellor, Sir JJ School of Art, Architecture and Design, Mumbai of the institute. Mr. Kakade also graced the event by his august presence.

The artists from Sir JJ School of Art, Architecture and Design showcased a remarkable confluence of art, culture, and creativity to witness the transformation of the Palasamudram campus into a masterpiece of collective imagination.

Shri Gaigongdin Panmei, Principal Director General, NACIN, Palasamudram said, “This painting camp is a unique fusion of art and purpose, symbolizing the power of creativity to inspire and transform spaces. We are honored to host such a talented group of artists who will leave a lasting legacy on our campus.” 

Prof. Rajanish Kamat, Vice Chancellor, Sir JJ School of Art, Architecture and Design, Mumbai said, “We extend our heartfelt gratitude to the participating artists and organizers for their dedication to this initiative. The National Painting Camp at Palasamudram is not only a celebration of artistic excellence but also a testament to the enduring partnership between NACIN and the Sir JJ School of Art.”

The artworks created during this camp will become an integral part of the NACIN Palasamudram campus, enriching the environment for trainees and visitors alike. The initiative reflects Sir JJ School of Art’s commitment to promoting art, culture and education in harmony. Through this event, we aim to establish Palasamudram as a hub of artistic and intellectual inspiration, paving the way for future collaborations in the field of art and design.

PCEB Welcomes New Direct Chennai-Penang Flight, Strengthening Ties Between India and Penang

View in browser PCEB Welcomes New Direct Chennai-Penang Flight, Strengthening Ties Between India and Penang Penang, Malaysia: Penang proudly celebrates the launch of the inaugural direct flight connecting Chennai, India, to Penang, Malaysia, operated by IndiGo Airlines. This marks a significant milestone in enhancing connectivity between the two cities, opening doors to new opportunities for tourism, trade, and cultural exchange... FULL PRESS RELEASE PHOTOS

Surya Hospitals to Support Neurodiversity as Healthcare Partner in Yash Charitable Trust Event

                                                                                                                                                                                          

                       

Mumbai, 21st December 2024, Surya Hospitals, is supporting Yash Charitable Trust as a healthcare partner, hosting an inspiring evening celebrating neurodiversity at St. Andrews, Bandra, on Friday, December 20th. The event was a resounding success, bringing together neurodiverse individuals, corporate leaders, and healthcare professionals to spotlight the importance of inclusivity and early intervention in developmental pediatrics.

The highlight of the evening was a series of performances by neurodiverse individuals, showcasing their exceptional talents through singing, dancing, drama, and skits. Attendees were captivated by the passion and creativity displayed on stage, underscoring the message that neurodiverse individuals possess immense professional potential.

As the healthcare partner, Surya Hospitals played a pivotal role in the event. The hospital provided medical support, including an ambulance on standby, ensuring the safety and well-being of all participants and attendees.  Dr Rajeshwari Ganesh - Development Behavioral Pediatrics, Surya Hospitals, Mumbai, a leading expert from Surya Hospital’s pediatrics team was present at the event. Surya Hospitals highlighted how timely medical and therapeutic support can significantly improve outcomes and foster greater social inclusion.

Renowned artists, including Naveen Prabhakar, Dharsi Barediya, Angela Rebello, and Parijat Sarkar, graced the event with their presence, adding a vibrant touch to the evening. Naveen Prabhakar, the celebrated comedian, entertained the audience with his humor and lively energy, making the event even more memorable.

“We are happy to be a healthcare partner for Neurodiversity celebration. Surya Hospitals is proud to support initiatives that align with its vision of holistic healthcare and societal development. The event created a benchmark on professional opportunities inclined to neurodiverse individuals and early interventions through addressing can improve its outcomes” said Dr. Bhuvan Dommeti, Zonal Director of Surya Hospitals.

“Through Sarang Sandhya we are celebrating international day of persons with disabilities as they are valued members of society and more community members need to know and appreciate that", said Dr Sushama Nagarkar, Managing Trustee, Yash Charitable Trust.

The event also saw active participation from corporate CHROs, who discussed the benefits of incorporating similar activities into their CSR mandates and the workplace.

The collaboration between Surya Hospitals and Yash Charitable Trust exemplifies the potential of partnerships between healthcare providers, NGOs, and corporates. Together, they aim to create a more inclusive society where neurodiverse individuals can thrive both personally and professionally.

The evening concluded on a high note, with attendees expressing their appreciation for the initiative and the meaningful connections it fostered. Surya Hospitals reaffirmed its commitment to supporting similar events in the future, further strengthening its role as a healthcare advocate for neurodiverse individuals.

Airtel and Zee5 partner to bring exciting Zee5 content to Airtel WiFi customers

• Zee5 content with over 1800 TV shows, a catalogue of over 4000 movies and a vast variety of popular web series across multiple languages will now be available to all Airtel Wifi customers on plans starting Rs. 699 at no additional cost

 

• Airtel Wifi now has one of the largest digital content portfolios in India, offering access to over 350 Linear TV channels and 27 OTT platforms offering thousands of movies and shows

 

Gurugram (India), December 20, 2024:  Bharti Airtel (“Airtel”) one of India’s leading telecommunications service providers, today announced that it has entered into a partnership with Zee5, India’s leading OTT platform to offer exciting digital content to its WiFi customers. All customers on plans starting at Rs. 699 or higher will have Zee5 included as part of their Airtel WiFi plan at no additional cost.  

 

Following this partnership, Zee5’s exclusive content, that includes original shows, chartbuster titles, OTT movies and series across multiple languages will now be available on Airtel WiFi for viewers, giving them access to an exhaustive catalogue of digital content. From popular titles like Sam Bahadur, RRR, Sirf Ek Bandaa Kaafi Hai, Manorathangal, Vikkatakavi, The Chronicles of Amaragiri, Aindham Vedham, Gyaarah Gyaarah amongst many others, Airtel WiFi customers can now enjoy a vast repository of 1.5 lakh+ hours of content.  

 

Amit Tripathi, Chief Marketing Officer & EVP Customer Experience - Bharti Airtel said, “Partnerships are at the core of Airtel’s DNA and we are delighted to partner with Zee5 in our endeavor to build a world-class digital content ecosystem. Zee5’s rich library adds a lot of depth to our content portfolio, enhancing the overall experience for our users. We remain committed to building our content portfolio with a single agenda of delighting our customers with the very best”.

 

Manish Kalra, Chief Business Officer, ZEE5 stated, “At ZEE5, it has been our endeavor to democratize access to high-quality entertainment by making our diverse content library available to a larger audience. The collaboration with Airtel strengthens our commitment to offering viewers a seamless entertainment experience across genres, languages, and formats. With integration of ZEE5 for Airtel Broadband users, we aim to cater to a wide audience base, ensuring engaging, personalized storytelling for every user.” 

 

Airtel Wi-Fi Plans

 

Plans	Speed	Linear TV Benefits	OTT Benefits
₹699	Up to 40 Mbps	350+ TV channels (HD included)	Zee5, Disney+ Hotstar, 22+ OTTs & much more
₹899	Up to 100 Mbps	350+ TV channels (HD included)	Zee5, Disney+ Hotstar, 22+ OTTs & much more
₹1099	Up to 200 Mbps	350+ TV channels (HD included)	Zee5, Amazon Prime, Disney+ Hotstar, 22+ OTTs & much more
₹1599	Up to 300 Mbps	350+ TV channels (HD included)	Zee5, Netflix, Amazon Prime, Disney+ Hotstar, 22+ OTTs & much more
₹3999	Up to 1 Gbps	350+ TV channels (HD included)	Zee5, Netflix, Amazon Prime, Disney+ Hotstar, 22+ OTTs & much more

 

Airtel WiFi customers can claim the free offer via the Airtel Thanks app.

 

This partnership further enhances Airtel's impressive WiFi + TV offering, which boasts of over 350 HD channels and grants customers access to Airtel Xstream Play - a comprehensive platform that aggregates content from 23 popular OTT services including SonyLiv, ErosNow, SunNxt, AHA, and many more.

 

With the addition of ZEE5 to the existing offerings like Amazon Prime, Netflix, and Hotstar, Airtel WiFi customers now have an unrivaled wealth of entertainment options on their fingertips, cementing Airtel's position as a frontrunner in providing a holistic and enriching digital lifestyle experience to its subscribers.