MODIFI Secures Strategic Investment From SMBC Asia Rising Fund To Fuel Asian Exports By SMEs

* Fintech leader strengthens position in cross-border B2B payments and trade finance, eyeing rapid growth across Asia, including China and India.

MODIFI, a leading global platform in B2B Buy Now, Pay Later (BNPL) solutions, today announced the successful completion of a $15 million funding round led by SMBC Asia Rising Fund with participation from existing investors Maersk, IntesaSanPaolo, Heliad and other top-tier global investors. Sumitomo Mitsui Banking Corporation (SMBC), one of Japan’s leading banks and a major financial force in the APAC region, brings both capital and strategic alignment to the partnership. Beyond the equity investment, MODIFI and SMBC have signed a Memorandum of Understanding (MoU) to jointly advance digital solutions that support SME exporters across Asia in expanding their international trade operations. Through a series of joint initiatives, MODIFI and SMBC aim to empower SMEs with innovative cross-border financing solutions. 

The announcement comes on the sidelines of Singapore Fintech Festival, showcasing MODIFI's drive for innovation in the global fintech landscape. This new capital infusion will accelerate MODIFI's expansion, particularly in high-growth markets like China and India, where the company has already made significant inroads. MODIFI’s platform delivers critical liquidity and flexible payment terms to small and medium-sized enterprises (SMEs), helping them optimize cash flow and expand their international reach.

"The funding underscores the strength of our business and the confidence our investors have in our vision for the future," said Nelson Holzner, CEO and Co-founder of MODIFI. "As global commerce evolves, MODIFI is at the forefront, providing innovative solutions that empower businesses to scale and succeed across borders."

MODIFI's exponential growth has solidified its position as a market leader in cross-border payments and trade finance. Recognized by Financial Times and Statista as one of the Fastest Growing European Fintech Companies in 2024, MODIFI has facilitated over $3 billion in global trade for more than 1,800 companies since it was founded in 2018. The platform offers instant working capital approval, alongside integrated risk management tools that shield businesses from buyer defaults and fraud.

"Our mission is simple: We empower SMEs to compete and thrive in the global market with fast, flexible, and secure payment solutions," added Holzner. "With this fresh funding, we’re set to redefine global trade finance—ensuring businesses of all sizes can unlock the liquidity and get the protection they need to grow internationally."

"By transforming cross-border supply chain finance for the digital age with their global presence, we believe MODIFI supports SMEs to scale their export businesses with ease. We look forward to collaborating with MODIFI to empower our corporate clients to expand their businesses globally with agility and financial flexibility overcoming traditional trade barriers.”, said Keiji Matsunaga, General Manager of Digital Strategy Department, SMBC.

About MODIFI

MODIFI is redefining global trade finance as a leader in B2B Buy Now, Pay Later (BNPL) solutions. Trusted by businesses across 55+ countries, MODIFI provides cutting-edge tools that optimize working capital and streamline cross-border payments. Through its extensive global network, MODIFI delivers fast, flexible, and secure financial solutions, helping companies expand their international footprint with ease. By integrating advanced risk management features and seamless payment processes, MODIFI is setting new benchmarks in global commerce, empowering businesses of all sizes to thrive in a rapidly evolving market.

About SMBC and SMBC Asia Rising Fund

SMBC, one of the leading banks in Japan, co-funded SMBC Asia Rising Fund with Incubate Fund which is a corporate venture capital fund, for the purpose of accelerating business development and partnerships through investments in high potential start-ups operating actively in Asia. Through this fund, SMBC Group will enhance its business and provide clients with new solutions by uncovering/ applying new technologies via partnerships with investee firms and the development of new business models and products. 

Hero MotoCorp Showcases Its Future Mobility Vision At EICMA 2024

“With our vision "Be the Future of Mobility," Hero MotoCorp aims to push boundaries and set new standards in innovation and sustainability. We are driven by our commitment to pioneering technologies that shape a future of mobility designed to benefit generations to come.

As the world's largest two-wheeler manufacturer, Hero MotoCorp embodies the spirit of "Innovating and Making in India for the World". This ethos permeates every aspect of our operations, reinforcing our dedication to serving our 120 million customers while maintaining a focus on environmental sustainability.

“Hero MotoCorp continues to be a trusted global leader, known for reliability and resilience of our machines. This enduring trust and our world-class products form the foundation as we expand into Europe and the UK.

“We are excited to unveil four world-class products, each with a distinctive global identity,  category-leading features, advanced technology, and an acclaimed engineering excellence that defines Hero MotoCorp.”

Dr. Pawan Munjal

Executive Chairman, Hero MotoCorp

Hero MotoCorp, the world’s largest manufacturer of motorcycles and scooters, unveiled a range of exciting and highly-anticipated new motorcycles and an electric scooter at the EICMA 2024. The Company announced its plans to enter multiple European and UK markets by the second half of 2025.

Aligned with its vision ‘Be the Future of Mobility’, Hero MotoCorp showcased its premium range of new and existing internal combustion engine (ICE) and electric vehicle (EV) products that consisted of the award-winning, futuristic Surge S32, FIM world championship winning adventure machine, Hero 450 Rally and path-breaking electric concepts. 

Product Showcase

Continuing its journey of premiumization and expanding its product portfolio into new categories, Hero MotoCorp unveiled three new motorcycles - the Xpulse 210, the Xtreme 250R and the Karizma XMR 250. 

The versatile motorcycle range caters to various riding styles and roads - from off-road/ adventure to the street and track – while the VIDA Z electric scooter brings style and performance to environment-conscious customers. 

VIDA Z is a product for the global audience, resonating from Barcelona to Bogota with its rich features and styling. As customers become more discerning, the new tech-enabled sustainable product aims to be an expression of freedom, excitement and joy. VIDA Z’s design philosophy is to celebrate the “fun” in functional. It has harmonious design that is identifiable and relatable due to its distinctive silhouette. 

Developed with input from the FIM World Champion Ross Branch of Hero MotoSports Team Rally, the Xpulse 210 is a globally popular product that captures the essence of effortless riding. It has a minimalistic design and offers an exhilarating ride. It's adventure-ready, straight from the showroom floor.

The Xtreme 250R is designed to be the ultimate street champion. It has a "sporty" DNA running through its design, aesthetics and performance. With its aggressive styling and powerful stance, the motorcycle is an extension of the popular Xtreme power brand. 

The Karizma XMR 250 is a head-turner that exudes both performance and style. The fully-faired design, complete with racing-inspired winglets, enhances its visual appeal and innovative features like height-adjustable clip-on handlebars ensure rider comfort. Whether on a racetrack or enjoying a spirited ride on the open road, the Karizma XMR 250 delivers an exhilarating experience.

Global Expansion

With the goal of expanding its commercial operations in Europe and UK from the second half of 2025, Hero MotoCorp will be entering the markets riding on a new electric scooter - the VIDA Z. Subsequently, the Company plans to expand its range to high capacity premium internal combustion engine (ICE) motorcycles.  

Hero MotoCorp has technology centre in Europe - Tech Centre, Germany (TCG) – and the Hero MotoSports Team Rally is also based out of the TCG. The company’s existing and new product range will suitably cater to the present and future requirements of European markets.

The Company announced the appointment of distributors in Italy - Pelpi International S.r.l. It had earlier entered into commercial agreements with partners in Spain - Noria Motos SLU, France - GD France, and UK - MotoGB UK.

Product Specifications 

VIDA Z 

VIDA Z, the latest product from VIDA, powered by Hero, has been designed keeping a global audience in mind. The scooter offers an enjoyable ride that is fit for the daily commute, while also providing freedom and excitement. 

VIDA Z delivers a “worry-free ownership” by offering the comfort of multiple modes of charging, removable battery, reliable performance and added surety of Connected and Safety suite through MY VIDA App.

The VIDA Z comes with a state-of-the-art permanent magnet synchronous motor (PMSM) drive train, which offers the best combination of efficiency, low maintenance and performance. The modular architecture can accommodate a range of battery capacity starting from 2.2 kWh and going up to 4.4 kWh battery.

The vehicle will be equipped with our new age, state-of-the-art connectivity suite + cloud platform. This new platform will allow the owners to monitor/track the vehicle health, theft/movement detection, geofencing, immobilize the vehicle in case of unauthorised usage and perform Over the Air (OTA) updates without the need of visiting the service station.

Stand out design elements of the scooter include the Handlebar, which complements the surface treatment of the scooter and accents that tastefully break the otherwise minimalistic design, a touch-enabled TFT display, and industry best gradeability. 

Xpulse 210

The Xpulse 210 is designed to empower the spirit of adventure. The powerful 210cc DOHC liquid-cooled engine generates 24.5 bhp and 20.4 Nm of torque. The 210mm front and 205mm rear suspension along with switchable ABS modes for adaptable braking, give rider the confidence to tackle any terrain.

Whether navigating rocky trails or carving through city streets, the Xpulse 210 delivers a thrilling, responsive ride. The 6-speed gearbox with a slipper and assist clutch ensures smooth gear shifts.

With a high ground clearance of 220mm, it can handle rough terrains with ease. The 4.2” TFT speedometer provides clear ride information, while the adjustable handlebar ensures tailored comfort. Paired with a rally kit for off-road readiness, it makes the perfect companion for any adventure.

Xtreme 250R

The all-new Xtreme 250R is a fast motorcycle in its segment and a statement of intent for the brand. The sporty head-turner boosts aggressive styling and a powerful stance. Every element of the motorcycle, from the robust 250cc liquid-cooled DOHC engine with a 4-valve system to the trellis frame, contributes to its agile handling and exhilarating performance. Generating a peak power of 30 PS and a peak torque of 25 Nm, it is built for speed.

The USD front suspension, 6-step adjustable mono-shock rear suspension, and radial tyres with a 50-50 weight balance provide exceptional grip and responsiveness, allowing riders to experience speed with confidence.

This bike begs to be pushed to its limits. Packed with rider-centric technology, including switchable ABS modes, auto-illumination Class-D LED Projector headlight with DRLs as well as a lap timer and drag timer – it is perfect for riders who want to test the limits. It is also equipped with connected features such as TBT navigation and music control, to stay connected and informed on the go.

Karizma XMR 250

The Karizma XMR 250 exudes both performance and style. Powered by a 250cc DOHC 4V liquid-cooled engine it delivers a peak power of 30 PS and a peak torque of 25 Nm, a true sports bike in every sense. The design highlights are the sleek lines, aggressive stance, racing-inspired winglets, along with ergonomic features like height-adjustable clip-on handlebars. 

The motorcycle's structure is reinforced by a sturdy trellis frame, and it features a USD front suspension along with a 6-step adjustable monoshock rear suspension and switchable ABS modes for a smooth ride. The lap timer and drag timer for performance tracking, along with auto-illumination Class-D multi-projector LED headlight and LED DRLs, enhance the utility of the motorcycle.

About Hero MotoCorp

The New Delhi (India) headquartered Hero MotoCorp Ltd. is the world’s largest manufacturer of motorcycles and scooters, in terms of unit volumes sold by a single company in a year — the coveted position it has held for the past 23 consecutive years. The Company has sold over 120 million motorcycles and scooters in cumulative sales since its inception. Hero MotoCorp currently sells its products in 48 countries across Asia, Africa, and Latin America. Hero MotoCorp has eight state-of-the-art manufacturing facilities, including six in India, and one each in Colombia and Bangladesh. Hero MotoCorp has two world-class, state-of-the-art R&D facilities — the Centre for Innovation and Technology (CIT) in India and Tech Centre Germany (TCG) near Munich. Hero MotoCorp is one of the largest corporate promoters of multiple sports, including, Golf, Football, Field Hockey, Cricket and Motorsports. Golf icon Tiger Woods is Hero’s Global Corporate Partner.

Could Use A Vacation Right Now: Elsa Pataky And Chris Hemsworth Partner With Experience Abu Dhabi

Hollywood couple Elsa Pataky and Chris Hemsworth have collaborated with Experience Abu Dhabi, sharing all the city has to offer blending rich culture, adventure, and peaceful escapes, with incredible weather and endless experiences for every kind of traveller to enjoy at their own pace.

The two-year partnership was announced with a campaign film that features the duo on set, dreaming of a much-needed holiday. Using a mix of comedy and action, the film sees the couple agree that they could use an escape and imagine the blissful moments they could be experiencing in a destination that has it all...Abu Dhabi.

Elsa commented on putting family first: “When it comes to family holidays, Abu Dhabi has it all. Whether it is for us as a couple or a family, every day here is a new adventure, there is something for each one of us to enjoy and discover. My kids have fallen in love with Abu Dhabi, as it gives them a playground for all the things they want to do. Whether it's theme parks with exciting roller coasters, dune bashing and horse riding in the desert to catching the best wave, Abu Dhabi has it all and is now our must-do holiday spot.”

Chris reflected on creating memories: "We're thrilled to partner with Experience Abu Dhabi. Abu Dhabi’s got everything we love all in one place. The adventures have left us with amazing memories that will last a lifetime—you can tell how special it was since the kids didn't want to leave. We've loved everything about the culture, the people and the experiences. It’s a place where we can unwind, and relax, with the feeling of being at home. We’ve travelled the world, but Abu Dhabi has captured our hearts. We’re already planning for our next trip!"

As heard in the film, the message "Could Use A Vacation Right Now" resonates with the world. So many of us are drowning in deadlines, work commitments, and a never-ending to-do list—dreaming of that next great holiday. In Abu Dhabi, you can swap your daily routine for the perfect escape, from inspiring cultural experiences to galloping across desert dunes, riding waves at Surf Abu Dhabi and reconnecting with loved ones under a stunning sunset on a white-sand beach.

The campaign film showcases how Abu Dhabi inspires every family to find their own pace—a destination brimming with new adventures and countless opportunities to create lasting memories. From kayaking around Louvre Abu Dhabi to thrilling rollercoasters, all wrapped in the warmth of Emirati hospitality, the couple had the perfect family getaway. They savoured traditional Emirati cuisine before sunset strolls on the beach, feeling welcomed and at ease.

H.E. Nouf Mohamed Al-Boushelaibi, Executive Director of Strategic Marketing & Communications at DCT Abu Dhabi, said: "We're incredibly passionate about sharing Abu Dhabi with the world and are proud to have Elsa and Chris partnering with us. Their dynamic energy and love for discovery highlights everything Abu Dhabi has to offer from inspiring cultural experiences to adventures, creating meaningful and lasting memories, all at their own pace."

Get inspired by Chris and Elsa's dream-come-true adventure in Abu Dhabi and watch the new film here.

About Experience Abu Dhabi:

Experience Abu Dhabi is the destination brand of the Department of Culture and Tourism – Abu Dhabi.

DCT Abu Dhabi drives the sustainable growth of Abu Dhabi’s culture and tourism sectors and its creative industries, fuelling economic progress and helping to achieve Abu Dhabi’s wider global ambitions.

By working in partnership with the organisations that define the emirate’s position as a leading international destination, DCT Abu Dhabi strives to unite the ecosystem around a shared vision of the emirate’s potential, coordinate effort and investment, deliver innovative solutions, and use the best tools, policies and systems to support the culture and tourism industries.

DCT Abu Dhabi’s vision is defined by the emirate’s people, heritage and landscape. We work to enhance Abu Dhabi’s status as a place of authenticity, innovation, and unparalleled experiences, represented by its living traditions of hospitality, pioneering initiatives and creative thought..

CakeZone Welcomes Palak Tiwari As Brand Ambassador Amidst Festive Excitement

* Brand film: Ordinary ko occasion mein badlo - CakeZone matlab celebration on!

CakeZone the National Dessert Brand from the House of Curefoods, announced popular actress Palak Tiwari as its official brand ambassador for the next year. Palak Tiwari’s association with CakeZone comes at an exciting time, as the brand looks to deepen its connection with younger audiences who appreciate both quality and creativity in their celebrations.

Known for her engaging persona and strong presence among Gen Z, Palak is an ideal ambassador to highlight CakeZone's commitment to innovation in the dessert space. Together, they aim to bring joy to festivities across the country, creating sweet moments that last.

Palak Tiwari expressed her excitement about this collaboration, saying, “I am thrilled to be part of the CakeZone family! Their commitment to blending tradition with modernity perfectly aligns with my own values. These festive hampers are a way to share love and joy with our loved ones during this beautiful festival.”

With the ongoing festive season, CakeZone elevated the celebrations with its exclusive Diwali hampers, thoughtfully designed to capture the spirit of tradition and modern indulgence. These special hampers offer a delightful range of treats, perfect for gifting to loved ones and ensuring a memorable Diwali. Each carefully curated hamper serves as a heartfelt postcard, filled with delectable items that reflect love and care.  These elegant and stylish hampers cater to diverse tastes, making them the ideal choice for this festive occasion.

Ankit Nagori, Founder, Curefoods, added, “We are excited to have Palak Tiwari on board as our brand ambassador. Her vibrant personality and connection with the new generation resonate perfectly with our vision. Our festive hampers are designed to make every celebration special, and we believe that with Palak’s influence, we can inspire more people to celebrate with meaningful gifts.”

As the festive season approaches, Cakezone extends an invitation to the community to explore its exclusive festive hampers, which have been thoughtfully crafted to enhance the spirit of celebration. The brand aims to honor the values of love, joy, and togetherness during this auspicious occasion with its curated offerings.

About CakeZone:

CakeZone is a cloud-kitchen dessert brand currently operating in 35 cities with more than 160 cloud kitchens and plans to expand to other important cities soon. CakeZone aspires to fill the space of being a national dessert brand, founded in 2016 in Bangalore.

After bypassing the requirement to showcase bakery products unlike brick-and-mortar stores, CakeZone developed the capabilities to deliver freshly baked products all the time. The strong operational processes and frugality helps to scale efficiently. The brand has been ranked consistently among the top dessert brands in Bangalore, Hyderabad for the last 3 years. They invested in a R&D kitchen which helped them produce new products and add a strong moat to their business. Please refer to www.cakezone.com for additional information.

About Curefoods:

Curefoods is a leading house of F&B brands in India. It was founded by Ankit Nagori in 2020. It houses brands like EatFit, Cakezone, Nomad Pizza, Sharief Bhai Biryani and Frozen Bottle, among others. It has over 350 cloud kitchens and offline stores that cater to over 10 cuisines, across 30 cities in India. Curefoods is the second-largest cloud kitchen player in India in terms of footprint with the largest manufacturing capability in the fresh food space. Additional information on Curefoods is available at https://curefoods.in

PhonePe & Bharat Connect Partner To Launch Easy Contributions For National Pension System

PhonePe, today announced the launch of contributions to NPS (National Pension System) as a new savings category under Bharat Connect (earlier known as BBPS), on its platform. With this launch, PhonePe enables millions of users to now make seamless, secure and easy contributions to their NPS account through the PhonePe app.

NPS is a highly effective tax saving instrument for personal retirement planning. This scheme not only provides significant tax savings but also comes in handy as a retirement corpus, thus helping users secure their financial future. Previously, users could only make contributions towards their NPS accounts through the websites of PFRDA, NSDL, CAMs, KFintech and Banks. However, the launch of this feature will allow users to contribute conveniently using the PhonePe app, allowing previously under-served populations to experience the ease and advantages of digital payments.

Commenting on the launch, Noopur Chaturvedi, CEO, NPCI Bharat BillPay Limited, said, “Integrating NPS category on the Bharat Connect platform is a significant step towards enabling individuals to manage their investments for retirement planning seamlessly. With this advancement, PhonePe users can now effortlessly contribute to their NPS accounts directly through the app. This initiative underscores our commitment to making financial services more accessible and inclusive for citizens across India.”

Sonika Chandra, Chief Business Officer - Consumer Payments at PhonePe, added, “We are very excited to partner with Bharat Connect to launch contributions towards NPS. This partnership between PhonePe and Bharat Connect significantly enhances the utility and convenience of making NPS contributions by offering a secure and user-friendly payment solution to millions of our users. We believe the future holds substantial potential for growth and innovative partnerships such as this make the process of payments and savings much more simple and inclusive for all.”

Here’s how users can avail this feature on the PhonePe app:

*     Click on ‘View All’ under the ‘Recharges and Pay Bills’ section on your PhonePe app home screen.

*     Click on ‘National Pension System’ under the ‘Financial Services and Taxes’ section and enter the following details:

*     Your 12-digit PRAN or 10-digit mobile number

*     Date of Birth

*     Tier

*     Contribution Amount

*     Tick the checkbox to agree to the Terms and Conditions and tap ‘Confirm’

*     Review the NPS investment details and the breakup of the amount

*     Tap ‘Proceed to Pay’, select your preferred payment mode, and complete the payment.

About PhonePe Group:

PhonePe Group is India’s leading fintech company. Its flagship product, the PhonePe digital payments app, was launched in Aug 2016. In just 8 years, the company has scaled rapidly to become India’s leading consumer payments app with 570+ million registered users and a digital payments acceptance network of 40+ million merchants. PhonePe also processes over 290+ million daily transactions with an annualized Total Payment Value (TPV) of USD 1.6+ Trillion.

On the back of its leadership in digital payments, PhonePe Group has expanded into financial services (Insurance, Lending, Wealth) as well as new consumer tech businesses (Pincode - hyperlocal e-commerce and Indus App Store - India's first localized App Store). PhonePe Group is an India headquartered technology company with a portfolio of businesses aligned with the company's vision to offer every Indian an equal opportunity to accelerate their progress by unlocking the flow of money and access to services.

FADA Releases October’24 Vehicle Retail Data

October’24 Auto Retail Report:

Overall auto retail performance:

Strong growth across all segments: October 2024 retail sales witnessed a significant growth of 32% YoY and 64% MoM

All categories reported healthy growth: 2W: +36%, 3W: +11%, PV: +32%, Trac: +3%, CV: +6% on YoY basis.

The rural market played a pivotal role, especially in boosting 2W and PV sales, supported by increased Minimum Support Price (MSP) for Rabi crops.

Segment highlights:

2W: YoY growth of 36% and MoM growth of 71%; the convergence of major festivals (Navratri & Diwali) in October significantly boosted consumer demand; attractive festive offers, new model launches, and improved stock availability drove strong performance; rural sentiments, supported by favourable monsoons and good crop expectations, further contributed to growth.

PV: Grew by 32% YoY and 75% MoM; Driven by festive demand, aggressive offers, and new model introductions; SUV demand remained strong, but dealer inventories remained high at 75–80 days, raising concerns about continued discounting through year-end.

CV: A modest 6% YoY growth, supported by agricultural demand and bulk purchases for container movements; Festive season demand helped, but challenges such as sluggish construction activities and increased vehicle prices affected overall growth.

Near Term Outlook:

Positive factors:

The upcoming wedding season, with 4.8 million weddings expected across India in November and December, is likely to fuel strong demand for 2W and PV segments.

Good crop yields and positive rural sentiments are expected to further drive sales in the near term.

Challenges:

PV inventories remain high, and OEMs are urged to rationalize supply to prevent excess stock.

Dealers in the CV segment remain cautious due to slow construction activities, financial constraints, and expected post-festivity demand decline.

Overall Outlook:

The auto industry remains optimistic about near-term growth, particularly with the wedding season ahead. However, potential challenges such as inventory overstock and economic headwinds may affect sales momentum towards the end of the year. FADA highlights the need for strategic inventory management and ongoing caution as the sector navigates these factors.

Festive Period Data:

FADA will release 42 days festive period data on 14th November 2024.

The Federation of Automobile Dealers Associations (FADA) today released Vehicle Retail Data for October'24.

FADA President, Mr. C S Vigneshwar, shared his perspective on the auto retail performance for October 2024:

“October 2024 witnessed the convergence of two major festivals, Navratri and Diwali, both occurring in the same month. These festivities traditionally account for 30–35% of total annual auto sales, so the industry's focus was keenly on how October would unfold. With dealers entering this crucial period fully committed and carrying all-time high inventory levels, the month did not disappoint!

Overall retail sales grew by 32% YoY and 64% MoM. All categories showed positive growth, with 2W up 36%, 3W up 11%, PV up 32%, Trac up 3% and CV up 6% YoY. The rural market once again played a leading role in driving growth, particularly in the 2W and PV segments. Additionally, the Government of India's announcement of an increase in the Minimum Support Price (MSP) for Rabi crops further boosted market sentiments.

In the 2W segment, sales surged by 36% YoY and an impressive 71% MoM. The coincidence of major festivals in the same month spurred consumer purchasing. Dealers reported that attractive festive schemes, discounts and new model launches significantly stimulated customer interest. Enhanced stock availability and better vehicle supplies from manufacturers enabled dealers to meet the increased demand. Positive rural sentiments, aided by favourable monsoons and crop expectations, also contributed to the strong performance. Overall, the combination of festive celebrations, promotional offers and positive market conditions led to an exceptional month for 2W dealers.

The passenger vehicle segment experienced growth of 32% YoY and 75% MoM. This impressive performance was again driven by the festivals coinciding in October, boosting consumer purchasing. Dealers highlighted that aggressive offers, attractive schemes and new model introductions further stimulated demand. Enhanced vehicle availability and strong market interest, especially for SUVs and new products, also contributed to the exceptional sales. However, despite strong sales, PV OEMs continue to heavily stock dealers, resulting in inventory levels decreasing by only five days, with overall inventory still at a high of 75–80 days. This may thus lead the season of substantial discounts to continue until the end of the calendar year.

The commercial vehicle segment registered a modest 6% YoY growth. Factors contributing to this included supportive agricultural markets and bulk purchases, particularly for container movements. The festive season, featuring both Diwali and Dussehra, also stimulated demand, along with some recovery from September's slowdown due to rains. However, dealers faced challenges such as slow demand, sluggish construction activities, financial issues among customers and increased vehicle prices leading to higher EMIs. Overall, while there were areas of growth, the CV market faced headwinds that tempered its overall performance.”

Near-Term Outlook

Looking ahead, the Indian auto industry is poised for continued robust retail performance through the end of the calendar year. With an estimated 4.8 million weddings scheduled nationwide in November and December 2024, Indian retail is preparing for an unprecedented surge in demand for wedding-related goods and services. Vehicle purchases also traditionally witnesses an uptick during the wedding season, and FADA anticipates that this will translate into strong sales in both, the 2W and PV segments in the near term.

In the 2W category, positive factors such as good crop yields, favorable rural sentiments and the upcoming marriage season are expected to drive demand. In the CV segment, while supportive agricultural markets and continued bulk purchases may contribute positively, dealers remain vigilant due to factors like sluggish construction activities, financial constraints among customers and an anticipated decrease in demand post-festivities. For PV, the marriage season and ongoing promotional offers are expected to sustain demand. Yet, there are apprehensions about potential slowdowns caused by customers postponing purchases in anticipation of better year-end discounts. FADA also urges, PV OEMs to further rationalise supply.

Overall, while the industry is optimistic about near-term growth driven by the wedding season and favourable market conditions, dealers are mindful of potential challenges that could affect sales momentum as the year concludes. The mixed sentiments reflected in the survey highlight the need for strategic planning and cautious optimism as the auto sector navigates the remaining months of the year.

Key Findings from our Online Members Survey

Liquidity

Good                   48.35%

Neutral               38.93%

Bad                      12.72%

Sentiment

Good                   50.64%

Neutral               34.86%

Bad                      14.50%

Expectation from November’24

Flat                      39.69%

Growth               37.15%

De-growth         23.16%

Nestlé India And SM Sehgal Foundation Celebrate 5 Years Of Project Vriddhi

Nestlé India and SM Sehgal Foundation celebrated the successful completion of five years of Project Vriddhi in Nuh district. The project was launched in 2019 in Rohira village to strengthen community-led rural development. Since its inception, the Project has positively impacted the lives of 18,000 beneficiaries across 14 villages.

This milestone was marked by an event in the Kaliyaka village, attended by school authorities, panchayat and community members from villages who have been positively impacted by the project.

Commenting on this significant milestone, Mr. Suresh Narayanan, Chairman and Managing Director, Nestlé India said, “At Nestlé India we strongly believe in business as a Force for Good. As part of our commitment to build a better society, Project Vriddhi was launched focussing on rural development. The project has created long-lasting change in these villages, through interventions across water and sanitation, raising nutrition awareness, enhancing farm productivity, and setting up of digital learning centres. The transformation journey of these villages has witnessed a multiplier effect on several development indicators empowering local communities to drive their progress.”

Ms. Anjali Makhija, Trustee & CEO, S M Sehgal Foundation, stated, "The project has grown from strength to strength, since 2019. We feel immensely satisfied to see the tangible impact of Project Vriddhi in the lives of rural communities. Village Development Committees have been established to oversee the upkeep of the project.”

Since its inception, the Project Vriddhi has scaled several milestones. These include restoration of eight ponds with 25 million litres of storage potential; engaging over 1000 farmers through good agricultural practices, transformation of six schools and around 395 children being equipped with digital and life skills; training of 280 women in nutrition groups, 133 kitchen gardens, and village development committees to sustain the developments.

Turkish Technic And SunExpress Sign Component Pool Support And Landing Gear Overhaul Agreements

Turkish Technic, a leading provider of maintenance, repair, and overhaul (MRO) services, has recently signed two significant agreements with SunExpress Airlines, a joint venture of Turkish Airlines and Lufthansa. The first agreement encompasses comprehensive Component Pool support, granting SunExpress access to Turkish Technic’s extensive inventory and tailored component solutions. This service will cover both the Boeing 737NG and Boeing 737MAX fleets, ensuring optimal component availability and minimizing aircraft downtime.

Additionally, a second agreement will cover the complete landing gear overhaul and spare operations for SunExpress' Boeing 737NG fleet. Together with these comprehensive agreements, Turkish Technic supports the operational continuity and fleet readiness of SunExpress, while SunExpress further reinforces its ability to deliver punctual and reliable services to its customers.

Regarding the agreements Mikail Akbulut, CEO and Board Member of Turkish Technic, remarked: “As our long-standing partnership thrives with new agreements, we are pleased to enhance SunExpress’ operational efficiency through our comprehensive component services. These agreements ensure seamless operations for SunExpress’ fleet. We are always delighted to strengthen and expand our long-standing collaboration with SunExpress. Turkish Technic remains committed to delivering world-class MRO solutions, driving operational excellence, and fostering long-lasting business partnerships within the aviation industry.”

Commenting on the continuation of the partnership, Max Kownatzki, CEO of SunExpress, expressed: “Our well-established collaboration with Turkish Technic reflects our commitment to safety and efficiency. The component support and landing gear maintenance services will help us maintain our operational reliability and performance at the highest standards. We believe that our partnership will continue to enhance our operational excellence, ensuring safe and reliable services for our customers."

With a partnership spanning over decades, Turkish Technic has provided base maintenance, component pool support, and landing gear services to SunExpress. These new agreements not only underscore the enduring collaboration but also reflect Turkish Technic’s commitment to delivering superior MRO services tailored to the evolving needs of its business partners.

About Turkish Technic

Turkish Technic (IATP: TKT), an association of Turkish Airlines group companies (Istanbul Stock Exchange: THYAO), is one of the world’s leading aviation services providers, where comprehensive maintenance, repair, overhaul, modification, and reconfiguration services are performed with a highly qualified workforce of 11.350 staff within Istanbul Ataturk Airport, Sabiha Gokcen Airport and Istanbul Airport facilities on two separate continents. Aside from its engineering and maintenance activities, Turkish Technic supports aircraft operators and owners globally with encompassing component pooling, design, certification, and production services. For more information: visit our website or connect with us on Facebook, X, Youtube, Linkedin, and Instagram.

About SunExpress

Established in 1989 as a joint venture of Turkish Airlines and Lufthansa, SunExpress acts as a tourism ambassador between Türkiye and Europe with 35 years of experience and leisure airline expertise. SunExpress flies on 200 routes to 35 countries and carries more than 12 million passengers every year. With its headquarters in Antalya and Frankfurt and bases in Izmir and Ankara, SunExpress has more than 4000 employees. SunExpress was named the 'Best Leisure Airline in Europe' in the latest global survey by Skytrax. You may find detailed information about SunExpress at www.SunExpress.com .

Hyatt Set To Expand Band Pesence In Nepal With Hyatt Regency Lumbani

* The 175-guestroom property will be the fourth Hyatt branded property in Nepal and will mark the second hotel with Golyan Group

Hyatt Hotels Corporation (NYSE: H) today announced that a Hyatt affiliate has entered into a management agreement with Veda Hospitality Private Limited, a part of the Golyan Group Limited, for Hyatt Regency Lumbini. The property will be the fourth Hyatt branded hotel in Nepal, reaffirming the significance of the market in Hyatt’s ambitious growth plans for Southwest Asia. 

Revered as the birthplace of Lord Buddha, the serene and spiritually significant town of Lumbini stands as an unparalleled destination for tourists as it draws travelers from across the world to the sacred site. It also boasts an UNESCO World Heritage status, with Lumbini's vast gardens featuring historical treasures, including the Ashoka Pillar, diverse monasteries and international temples reflecting global Buddhist traditions and fostering cultural exchange.

Nestled on the banks of the scenic Dano River, the property will be conveniently located within a short driving distance from the highly visited pilgrimage destination, Mayadevi temple, as well as other major attractions. It will also be near the Gautam Buddha International Airport, the city of Butwal, and the Nepal–India border, providing global business and leisure travelers with seamless access. Hyatt Regency Lumbini is expected to open by 2028.

“Nepal continues to play a significant role in Hyatt’s growth strategy in the Southwest Asia region, and we look forward to continued collaboration with Golyan Group Limited to bring international standards of hospitality to the province of Lumbini with the Hyatt Regency brand,” said Dhruva Rathore, vice president of development, India & Southwest Asia, Hyatt. “The profound cultural and spiritual appeal of Lumbini, with its rich heritage, positions it as a compelling destination for travelers and locals alike. It also reaffirms Hyatt's commitment to thoughtfully expanding our brand footprint in destinations preferred by our guests, World of Hyatt members, customers, and owners.”

“We are delighted to extend our collaboration with Hyatt to debut the first ever Hyatt Regency branded hotel in Lumbini,” said Akshay Golyan, managing director, Golyan Group Limited.

“Our vision for Hyatt Regency Lumbini is to create a world-class destination that elevates the hospitality experience in Nepal while respecting and promoting the cultural heritage of Lumbini. We believe this hotel will become a landmark in the region and a key contributor to Nepal’s tourism industry.”

Designed to bring people together and foster a spirit of community, Hyatt Regency hotels and resorts inspire guests to seek personal connections and professional collaboration. The upcoming property will be a blend of modern design and traditional Nepali warmth. Thoughtfully designed to complement the region’s cultural heritage, the hotel will be spread across 11 acres featuring 175 guest rooms, convenient dining options, events and meeting spaces, and a range of amenities including a state-of-the-art fitness center, a wellness spa, an outdoor pool, and other entertainment facilities.

Hyatt’s current portfolio in India and Southwest Asia consists of 52 properties, 50 in India and two in Nepal, across nine brands including Andaz, Alila, Hyatt, Hyatt Regency, Hyatt Centric, Hyatt Place, Park Hyatt, Grand Hyatt and JdV by Hyatt.

The term “Hyatt” is used in the release for convenience to refer to Hyatt Hotels Corporation and/or one or more of its affiliates.

About Hyatt Hotels Corporation

Hyatt Hotels Corporation, headquartered in Chicago, is a leading global hospitality company guided by its purpose – to care for people so they can be their best. As of June 30, 2024, the Company's portfolio included more than 1,350 hotels and all-inclusive properties in 78 countries across six continents. The Company's offering includes brands in the Timeless Collection, including Park Hyatt®, Grand Hyatt®, Hyatt Regency®, Hyatt®, Hyatt Vacation Club®, Hyatt Place®, Hyatt House®, Hyatt Studios, and UrCove; the Boundless Collection, including Miraval®, Alila®, Andaz®, Thompson Hotels®, Dream® Hotels, Hyatt Centric®, and Caption by Hyatt®; the Independent Collection, including The Unbound Collection by Hyatt®, Destination by Hyatt®, and JdV by Hyatt®; and the Inclusive Collection, including Impression by Secrets, Hyatt Ziva®, Hyatt Zilara®, Zoëtry® Wellness & Spa Resorts, Secrets® Resorts & Spas, Breathless Resorts & Spas®, Dreams® Resorts & Spas, Hyatt Vivid Hotels & Resorts, Alua Hotels & Resorts®, and Sunscape® Resorts & Spas. Subsidiaries of the Company operate the World of Hyatt® loyalty program, ALG Vacations®, Mr & Mrs Smith™, Unlimited Vacation Club®, Amstar DMC destination management services, and Trisept Solutions® technology services. For more information, please visit www.hyatt.com.

About Hyatt Regency

The Hyatt Regency brand is a global collection of hotels and resorts found in more than 230 locations in over 40 countries around the world. The depth and breadth of this diverse portfolio, from expansive resorts to urban city centers, is a testament to the brand’s evolutionary spirit. For more than 50 years, the Hyatt Regency brand has championed fresh perspectives and enriching experiences, while its forward-thinking philosophy provides guests with inviting spaces that bring people together and foster a spirit of community. As a hospitality original, Hyatt Regency hotels and resorts are founded on openness—our colleagues consistently serve with open minds and open hearts to deliver unforgettable celebrations, effortless relaxation and notable culinary experiences alongside expert meetings and technology-enabled collaboration. The brand prides itself on an everlasting reputation for insightful care—one that welcomes all people across all countries and cultures, generation after generation. For more information, visit hyattregency.com. Follow @HyattRegency on Facebook, Twitter and Instagram. 

Supriya Lifescience Ltd. Reports Strong Q2 FY25 Growth With 19% YoY Revenue Increase

The unaudited financial statements for the Q2FY25 results have been released by Supriya Lifescience Ltd., a cGMP-compliant business with a strong track record in API manufacturing and a focus on products from a variety of therapeutic segments, including anti-histamine, anti-allergic, vitamin, anaesthetic, and anti-asthmatic. The company has spread its business in more than 86 countries across the globe.

Key Highlights for Q2 FY25:

In the second quarter of FY25, Supriya Lifescience Ltd. witnessed remarkable growth in its revenue, reporting a 18.6 % year-over-year increase, reaching Rs. 166.1 crore compared to Rs. 140.1 crore in Q2 FY24

Gross Profit for Q2 FY25 stood at Rs. 120.13 crore, with a growth of 53.1% compared to Rs. 78.46 crore in Q2 FY24

EBITDA for Q2 FY25 stood at Rs. 64.72 crore, with an EBITDA Margin of 39.0%, as opposed to an EBITDA of Rs. 31.75 crore in Q2 FY24 with an EBITDA margin of 22.7%. This marks a growth of 103.8% YoY

The Profit After Tax (PAT) for Q2 FY25 came at Rs 46.15 crore, compared to Rs 23.88 crore in Q2 FY24

The PAT Margin stood at 27.8% in Q2 FY25, compared to 17.0% in Q2 FY24

Analgesic and Anaesthetic segment led the business growth in Q2 contributing 54.9% to the revenue vs 50.0% in Q2FY24. Anti-Asthmatic segment contributed 9.2% compared to 7.2%

European markets now contribute 45% of our business revenue in H1FY25 up from 39% in H1FY24

For Anaesthetic therapy 3 ANDA projects have been initiated and company is also working on ANDA projects for Anti Hypertensive and Vitamins

Capacity Utilisation has quickly increased from 47% in FY22 following a fresh capacity addition to 86% in FY24. In order to support future growth of various business segments the company has acquired three separate land parcels near different plants

Supriya Lifescience Ltd. continues to expand its global footprint, now doing business with over 1,700 customers across more than 128 countries. To ensure sustained growth and further expansion through new customer acquisition, the company has strategically distributed these geographic regions among its dedicated sales teams

Dr. Satish Wagh, Executive Chairman & WTD, Supriya Lifescience Ltd, commenting on the results, said, “Our commitment to innovation through R&D is paving the way for sustained growth and expansion. With the commissioning of our advanced R&D lab at Lote Parshuram and the upcoming Ambernath facility, we’re focusing on new product development and CMO/CDMO opportunities to complement our existing portfolio. Expanding our global presence across key regions, we're also working closely with regulatory and sales teams to acquire new customers, particularly in regulated markets. Our recent exclusive 10-year contract with a leading European firm underscores our capabilities in handling complex chemical processes, setting the stage for similar opportunities. As we enhance our infrastructure, including increasing capacity at Lote Parshuram to 1,020 KL by Q3 FY25, we’re building a foundation for a stronger future."

PNB Marks “Vigilance Awareness Week 2024” With Nationwide Integrity Pledge

In line with the Central Vigilance Commission (CVC) directives and this year theme “Culture of Integrity for Nation's Prosperity”, Punjab National Bank (PNB), nation’s leading public sector bank, celebrated the Vigilance Awareness Week 2024.

The inaugural ceremony was held at the Bank’s Corporate Office in Dwarka, New Delhi, where PNB Chairman Shri K.G. Ananthakrishnan, PNB MD&CEO Shri Atul Kumar Goel, PNB Executive Directors (EDs) - Shri M. Paramasivam and Shri Bibhu P. Mahapatra, other Directors on Board and PNB Chief Vigilance Officer (CVO) Shri Raghvendra Kumar paid tribute to Loh Purush Sardar Vallabh Bhai Patel, honouring his legacy as a champion of unity and integrity. PNB MD&CEO Shri Atul Kumar Goel administered the Integrity Pledge to staff members posted at Corporate Office, underscoring the Bank’s commitment to ethical business practices and integrity.

During the Vigilance Awareness Week, PNB also organised numerous outreach and awareness activities, including a Cyclothon (Cycle Rally) and a walkathon, both flagged off by PNB CVO Shri Raghvendra Kumar from the Bank’s Corporate Office in New Delhi, to raise awareness about the menace of corruption.

In addition, health check-up camp was conducted in collaboration with local hospital. In-house competitions for employees and their families such as essay and jingle contests, poster making competitions etc. were also organised.

PNB CVO Shri Raghvendra Kumar in his message on Social media handles of the Bank, emphasizing on the theme and importance of vigilance, stated: “The guidelines set forth by the Commission serve as a foundation for the nation's continued development. This year, the Commission initiated a three-month campaign focusing on five key areas: capacity-building programmes, identification and implementation of systemic improvement measures, updating of circulars, guidelines, and manuals, timely disposal of complaints received before 30 June 2024, and enhancing our dynamic digital presence. PNB has aligned its initiatives with the Commission's objectives to ensure that it upholds the highest standards of integrity and transparency while contributing to a robust framework that supports sustainable development of the nation and fosters a transparent system.”

Photo Caption: PNB MD&CEO Shri Atul Kumar Goel (centre), along with senior officials/ board of directors of the Bank, inaugurated Vigilance Awareness Week 2024 at PNB's Corporate Office. 

Marut Drones Secures $6.2M In Series A Funding To Strengthen Product Development And Manufacturing Capabilities

Marut Dronetech Pvt Ltd, a leading drone technology company with DGCA certification for manufacturing and training has raised $6.2 million in Series A funding from Lok Capital. Marut Drones is at the forefront of innovation in drone technology and is building a robust ecosystem to promote drone adoption across various sectors in India. Lok Capital’s investment in Marut Drones reaffirms its commitment to backing innovative tech-enabled food and agriculture business models. The impact of Marut’s initiatives extends far beyond individuals, the proactive approach will translate into heightened economic activity in tier 2 and 3 cities, fostering entrepreneurship and financial independence for rural communities at the grassroots level.

Marut Drones plans to allocate funds towards several key initiatives, including the development of advanced agricultural drones tailored to customer needs, expanding its channel partner network and service centers into Tier 2-3 cities to better serve rural customers, and establishing drone agriculture service hubs to offer Drone-as-a-Service with a partnership approach. The company also aims to recruit professionals across all verticals, foster drone entrepreneurship, launch 17 new drone academies to train skilled professionals and enhance its research and development efforts in partnership with leading institutions in India to create advanced applications like direct seeding and crop monitoring.

Hari Krishnan, Director of Lok Capital expressed his enthusiasm for this transformative investment, stating, “We’re excited to partner with the team at Marut to bring solutions to farmers and the broader rural economy. Drones for agriculture are a novel technology that can secure the health of crops, while also saving water, preserving soil health, avoiding exposure to chemicals, increase yield to farmers and providing income to village-level entrepreneurs. Our investment in the company will support market expansion, new technology innovations, and indigenous manufacturing efforts.”

Prem Kumar Vislawath, CEO and Co-Founder, Marut Drones said, ‘We are excited about this fund raise and bringing on-board like-minded investors. This significant investment reinforces Marut Drones’ commitment to empower Indian farmers and develop applications for aggregating drone-based services for institutions across sectors. The fresh capital will also allow us to make investments in building our team, increasing our manufacturing capacity to 3000 drones per annum, and marketing to continue scaling at a rapid pace to reach a revenue target of 1000 cr in the next five years.”

Founded in 2019 by Prem Kumar Vislawath, Suraj Peddi and Sai Kumar Chinthala, Marut Drones has a goal of establishing a pan-India presence, thus positioning the company to play a pivotal role in modernizing agriculture across diverse geographies. While agriculture will remain a priority, Marut Drones is also exploring disaster management and surveillance applications, reinforcing its role as a comprehensive drone technology provider. Marut is committed to creating rural employment opportunities for tier 2 and 3 cities, contributing to enhanced productivity and reduced input costs for farmers. The company has grown to over 200 team members and has a fleet of 750 drones and over 1000 drone pilots across 14 states in India. Marut’s AG365H India’s first DGCA Type Certified medium category multi-utility agricultural and fish feeding drone was recently inaugurated by Chief Minister of Andhra Pradesh and Minister of Civil Aviation of India. Marut Drones is inviting partnerships from enterprising individuals, agri entrepreneurs, large agri input companies, agri equipment manufacturers, agri retailers/ dealers/ distributors for all its business activities – drone sales, drone service and drone training, to join in its journey in creating a revolution in the Indian agri industry. 

Hero MotoCorp Surges Ahead During The Festive Season With Its Highest-Ever Festive Sales

Hero MotoCorp, the world’s largest manufacturer of motorcycles and scooters, achieved its highest-ever retail sales during the recent 32-day festive period,  starting from Navratri.

With sales of over 15.98 lakh (1.6 million) units, the company registered an impressive 13% growth compared to the festive season of 2023.

The robust demand for Hero MotoCorp's products was evident across both urban and rural India. The 125cc motorcycle segment, with Xtreme 125R, emerged as a key growth driver, while the 100cc segment also contributed positively to the company's strong sales performance.

VIDA, Hero MotoCorp's electric vehicle brand, crossed a significant milestone by achieving 11,600 retail sales during the same period. VIDA network's ongoing expansion, leveraging Hero Premia and Hero 2.0 outlets, in conjunction with a heightened emphasis on the Top 30 towns, is yielding positive results. The upcoming portfolio expansion is set to infuse the brand with further impetus.

The Harley-Davidson X440 achieved sales of over 2800 units, highlighting the brand's popularity. As the company aims to expand the Premia network to over 100 locations by the end of this fiscal year, it will enhance the reach and accessibility of this aspirational brand.

Niranjan Gupta, Chief Executive Officer, Hero MotoCorp, said “For the second consecutive year we have achieved our highest-ever festive retail sales, which is a testament to Hero MotoCorp's position as the preferred brand in India. We are grateful for the unwavering trust of our millions of customers. There has been good momentum and growth in most parts of the country with rural sales catching up with the urban segment in the latter half of the festive season. We expect the momentum to continue and are optimistic about the remainder of the year.”  

Hero MotoCorp's exceptional performance during the festive period has enabled it to further solidify its leadership position. The company's sustained focus on innovation, customer satisfaction, and a strong sales network highlights its commitment to providing high-quality products and meeting the diverse needs of its customers.

Indo-Korean Music Synergy: KOLAB’s Groundbreaking Collaboration For 2024

The Indian Performing Right Society Ltd. (IPRS) and the Korean Music Copyright Association (KOMCA) are thrilled to announce the upcoming “Indo-Korean Music Collaboration Programme”, a one-of-a-kind initiative designed to foster cultural exchange and create original cross-cultural music. Set to take place from November 6th to November 12th, 2024, at the True School of Music, Vijaybhoomi University Campus, Jamrung, Maharashtra, this event will bring together 15 artists, 10 from across India and 5 from South Korea, to collaborate on songwriting, composition, music production, and creative innovation. Blending diverse musical influences, the programme aims to forge lasting artistic and industry connections while introducing fresh, globally appealing music rooted in the rich traditions of both Indian and Korean music.

KOLAB will offer a unique setting for participants to expand their creative horizons through collaborative sessions guided by leading music creators such as Bunty Bains and Mayur Puri who will serve as the Creative Directors. Throughout the week, participants will merge their distinctive styles and ideas, infusing Indian rhythms with Korean popular music influences to create songs that embody the vibrant cultural exchange of both nations. The event will culminate in an exclusive listening session on 13th November in Mumbai, where the newly composed songs will be presented to an audience of industry professionals, offering these artists valuable exposure, feedback, and potential opportunities for broader reach and commercial success.

Commenting on the initiative, Mr. Rakesh Nigam, CEO of The Indian Performing Right Society, said, “At IPRS, we are dedicated to creating a vibrant platform for music creators, empowering them with global exposure and collaborative opportunities that transcend borders. Our collaboration with KOMCA through KOLAB is a testament to our commitment to cultural bridging, seamlessly connecting the rich musical traditions of India and Korea. Furthermore, we stand firm in our mission to protect the rights of artists, ensuring that their creative contributions are recognized and rewarded. Together, we are not just promoting music; we are fostering a thriving, interconnected community of artists.”

“Vijaybhoomi University is thrilled to host KOLAB — the first-of-its-kind Indo-Korean Songwriting Program—on its scenic & green campus in Jamrung, Maharashtra. Powered by the True School of Music at Vijaybhoomi, this seven-day residency will bring together artists from India and South Korea, providing an inspiring setting for creative expression and cross-cultural collaboration.

Organized by the Indian Performing Right Society and the Korean Music Copyright Association, this event signifies a new chapter in the expanding Indian music industry, fostering stronger ties between the two countries through the universal language of music”, said Mr. Vinay Prabhakar, Dean, The True School of Music Vijaybhoomi University.

“As curators of the Indo-Korean Song Camp, organized by IPRS in association with KOMCA, we at Bunty Bains Productions are thrilled to guide and bring together talented artists from India and Korea, This camp is a unique opportunity for artists to blend their skills and cultural, background, creating fresh, innovative music that bridges two rich musical traditions”, added Bunty Bains, Lyricist, Composer, Producer & CEO of Bunty Bains Productions.

KOLAB’s vision extends beyond producing original cross-cultural music; it aims to establish enduring collaborations between the Indian and Korean music industries. By fostering relationships throughout the programme, KOLAB aspires to create a foundation for ongoing artistic exchange and future creative partnerships, highlighting the international appeal and significance of this initiative. Through KOLAB, IPRS and KOMCA are paving the way for meaningful cultural exchange, strengthening the growth of independent music, and building a global network of creators that celebrates and sustains both musical legacies while driving innovation in the industry.

Swiggy Limited’s Initial Public Offering To Open on Nov 6-8, 2024; Price Band Fixed From Rs 371 To Rs 390 Per Equity Share

*  Price Band fixed at Rs  371 per equity share to Rs 390 per equity share of the face value of Rs 1 each (“Equity Shares”) of Swiggy Limited (the “Company”)

* Anchor Investor Bidding Date – Tuesday, November 05, 2024

* Bid /Offer Opening Date – Wednesday, November 06, 2024, and Bid/ Offer Closing Date – Friday, November 08, 2024

* Bids can be made for a minimum of 38 Equity Shares and in multiples of 38 Equity Shares thereafter

* For further details, please also see price band advertisement shared as an attachment or view price band advertisement published in Financial Express newspaper dated October 30, 2024 on  page no 26.

Swiggy Limited, India's pioneering on-demand convenience platform (the “Company”), proposes to open its initial public offering (“Offer”) on Wednesday, November 06, 2024. Bid/ Offer Closing Date will be Friday, November 08, 2024. Anchor Investor Bidding Date is one Working Day prior to Bid/Offer Opening Date, that is, Tuesday, November 05, 2024. 

The Price Band of the Offer has been fixed from Rs 371 per Equity Share to Rs 390 per Equity Share. Bids can be made for a minimum of 38 Equity Shares and in multiples of 38 Equity Shares thereafter.

The Offer comprises of a Fresh Issue of Equity Shares aggregating up to Rs  44,990 million (the “Fresh Issue”) and an offer for sale of up to 175,087,863 equity shares  (the “Offer for Sale”) by the Selling Shareholders. .

The Offer includes a reservation of up to 750,000 equity shares of face value of Rs 1 each, aggregating up to Rs [•] million, for subscription by eligible employees not exceeding 5% of our post-offer paid-up equity share capital (the “Employee Reservation Portion”). The Offer less the Employee Reservation Portion is hereinafter referred to as the Net Offer.

The Equity Shares offered through the Red Herring Prospectus are proposed to be listed on BSE Limited (“BSE”) and National Stock Exchange of India Limited (“NSE”).

This is an Offer in terms of Rule 19(2)(b) of the SCRR read with Regulation 31 of the SEBI ICDR Regulations. This Offer is being made through the Book Building Process in compliance with Regulation 6(2) of the SEBI ICDR Regulations wherein not less than 75% of the Net Offer shall be available for allocation on a proportionate basis to Qualified Institutional Buyers (“QIBs” and such portion the “QIB Portion”) provided that our Company and Selling Shareholders, in consultation with the BRLMs, may allocate up to 60% of the QIB Portion to Anchor Investors on a discretionary basis in accordance with the SEBI ICDR Regulations (“Anchor Investor Portion”), of which one-third shall be reserved for domestic Mutual Funds, subject to valid Bids being received from domestic Mutual Funds at or above the price at which Equity Shares will be allocated to the Anchor Investors (“Anchor Investor Allocation Price”), in accordance with the SEBI ICDR Regulations. In the event of under-subscription or non-allocation in the Anchor Investor Portion, the balance Equity Shares shall be added to the QIB Portion (excluding the Anchor Investor Portion) (“Net QIB Portion”). Further, 5% of the Net QIB Portion shall be available for allocation on a proportionate basis to Mutual Funds only and the remainder of the Net QIB Portion shall be available for allocation on a proportionate basis to all QIBs (other than Anchor Investors) including Mutual Funds, subject to valid Bids being received at or above the Offer Price. If at least 75% of the Net Offer cannot be Allotted to QIBs, then the entire Bid Amount (as defined hereinafter) will be refunded forthwith. However, if the aggregate demand from Mutual Funds is less than 5% of the Net QIB Portion, the balance Equity Shares available for allocation in the Mutual Fund Portion will be added to the remaining QIB Portion for proportionate allocation to QIBs. Further, not more than 15% of the Net Offer shall be available for allocation to Non-Institutional Bidders (“NIBs”) of which (a) one third portion shall be reserved for NIBs with application size of more than Rs 200,000 and up to Rs 1,000,000; and (b) two-thirds of the portion shall be reserved for NIBs with application size of more than Rs ,000,000, provided that the unsubscribed portion in either of such sub-categories may be allocated to Bidders in other sub-category of the NIBs in accordance with SEBI ICDR Regulations, subject to valid Bids being received above the Offer Price and not more than 10% of the Net Offer shall be available for allocation to Retail Individual Bidders (“RIB”) in accordance with the SEBI ICDR Regulations, subject to valid Bids being received from them at or above the Offer Price. Further, Equity Shares will be allocated

on a proportionate basis to Eligible Employees applying under the Employee Reservation Portion, subject to valid Bids being received from them at or above the Offer Price. All Bidders (except Anchor Investors) are required to mandatorily utilise the Application Supported by Blocked Amount (“ASBA”) process by providing details of their respective ASBA accounts and UPI ID (in case of UPI Bidders (defined hereinafter) using the UPI Mechanism), in which case the corresponding Bid Amounts will be blocked by the SCSBs or under the UPI Mechanism, as applicable to participate in the Offer. Anchor Investors are not permitted to participate in the Anchor Investor Portion of the Offer through the ASBA process. For details, see “Offer Procedure” beginning on page 445 of the Red Herring Prospectus.

Kotak Mahindra Capital Company Limited, J.P. Morgan India Private Limited, Citigroup Global Markets India Private Limited, BofA Securities India Limited, Jefferies India Private Limited, ICICI Securities Limited and Avendus Capital Private Limited are the book running lead managers (“Book Running Lead Managers” or “BRLMs”) to the Offer.

Terms used but not defined herein shall have the meaning assigned to such terms as defined in the RHP.

VOX India Expands Product Range With Ceiling And Wall Panels For Modern, Sustainable Architecture

~ Pioneering innovative building materials, VOX India presents Infratop Four Lamella SV26, Fronto SV24, and Welo SV22 – a trio of ceiling and wall panel solutions redefining modern aesthetics and durability for diverse architectural applications~

VOX India, a leading interior and exterior building material company, expands its product line up with the launch of three versatile wall and ceiling panels: the Infratop Four Lamella SV26, Fronto SV24, and Welo SV22. These panels cater to the growing demand for visually stunning, durable, and multi-functional materials that elevate spaces across residential and commercial settings.

Infratop Four Lamella SV26: Premium Ceiling and Soffit Panel for Versatile Applications

The Infratop Four Lamella SV26 is a sophisticated solution ideal for ceilings and soffits in both interior and exterior spaces. Its four-groove lamella design creates a streamlined, contemporary aesthetic, bringing a sleek touch to spaces like verandas, under eaves, and even indoor settings.

Key Highlights:

Sleek Design Aesthetic: The four-groove lamella structure offers clean lines and uniform spacing, enhancing the visual elegance of any setting.

Exceptional Versatility: Suitable for use both indoors and outdoors, the SV26 panel is designed to seamlessly complement a wide range of architectural styles and applications.

Durable and Low Maintenance: Resistant to weather conditions, the SV26 requires minimal maintenance, ensuring long-term durability without the need for frequent upkeep.

Fronto SV24: Dynamic Asymmetric Slat Panel for Wall and Ceiling Applications

With the Fronto SV24, VOX introduces a distinctive cladding solution designed for both wall and ceiling installations in indoor and outdoor environments. The panel’s asymmetric slat design brings a visually compelling, layered effect, adding depth and texture to any project.

Key Highlights:

Asymmetric Slat Design: A departure from traditional cladding, the non-uniform slats of the SV24 create a dynamic visual effect, adding architectural interest.

Enhanced Depth and Dimension: The interplay of light and shadow across the asymmetric slats enriches the panel's overall aesthetic, delivering a sophisticated, modern twist to any space.

Welo SV22 (Print): Versatile Ceiling Panel for Interior False Ceiling Applications

The Welo SV22 panel, featuring a five-slat design, is crafted specifically for interior ceiling applications, including false ceilings, drop ceilings, T-bar ceilings, suspended ceilings, grid ceilings, and ceiling tiles. Made from high-quality polymer material, it combines style with structural integrity, offering a clean, linear look suited for residential and commercial environments.

Key Highlights:

Five-Slat Configuration: The evenly spaced slats lend a sense of order and rhythm, adding contemporary elegance to ceilings.

Adaptable Aesthetics: Available in a range of finishes, the SV22 integrates seamlessly with various architectural styles, allowing for customization to suit distinct design needs.

Durable and Lightweight: Engineered from durable polymer, the SV22 is lightweight, water-resistant, and ideal for modern false ceiling systems, ensuring longevity in high-traffic areas.

Commenting on the launch, Mr. Varun Poddar, Founder of VOX India, stated, “Our new panel collection at VOX India represents a significant leap forward in architectural design flexibility. It is driven by our commitment to meeting an industry need for building materials that combine beauty with longevity. Through extensive research and innovation, we recognized a gap in the market for products that can withstand the demands of modern spaces while elevating their visual appeal. VOX India's latest line up continues to set new standards in the building materials sector, making it easier than ever to create spaces that are not only visually stunning but also built to last. We are excited to support architects, builders, and homeowners with pioneering solutions that redefine design potential and durability.”

The Infratop Four Lamella SV26, Fronto SV24, and Welo SV22 panels are ready to redefine residential and commercial spaces with their modern aesthetics and robust performance.

About VOX:

VOX is a renowned European brand at the forefront of designing, manufacturing, and distributing furniture, home furnishings, and building materials. Since 1989, the Voelkel family, the driving force behind the brand, has established VOX as a symbol of independence, originality, and creativity in business. With a legacy of over three decades, VOX has now established a presence in India through its association with the former promoters of Ashirvad pipes. Founded in 1975, Ashirvad pipes, renowned as the largest CPVC and column pipe manufacturer globally, concluded its operations in 2018 after being acquired by the Aliaxis group.

Turkish Airlines Received Three Awards From Airline Passenger Experience Association (APEX)

Turkish Airlines, the flag carrier of Türkiye, has been awarded the prestigious 'World Class' award by APEX (Airline Passenger Experience Association) for the fourth consecutive year, maintaining its place among the 10 airlines in the world that have received this prestigious award. The awards presented by APEX were handed out at a special ceremony during the APEX/IFSA Global Expo held in California. The carrier has also received ‘Best-In-Class’ distinction award in Sustainability, marking the airline's commitment to excellence in passenger experience and operational quality.

As a result of comprehensive inspections conducted by industry professionals, the 'World Class' recognition was awarded based on performance across three categories: Safety & Well-Being, Service-Guest Experience, and Sustainability, in which Turkish Airlines earned a ‘Best-In-Class’ distinction award. This achievement reflects Turkish Airlines’ commitment to sustainability through circular practices, digitalization, waste management, and more. In addition to these achievements, the national flag carrier has also received ‘FTE Pioneer Award’ from Future Travel Experience (FTE), a part of the APEX group. The FTE Global Airline Pioneer Awards ceremony took place in Los Angeles to award six winners worldwide that are pushing the boundaries of innovation, enhancing customer experience, and playing a vital role in advancing the air transport industry. 

Commenting on the awards, Turkish Airlines Chairman of the Board and the Executive Committee, Prof. Ahmet Bolat stated: “We are honored to receive the 'World Class' and ‘Best-In-Class Sustainability’ awards from APEX, and ‘FTE Pioneer Award’ from Future Travel Experience (FTE). This triple recognition underscores our dedication to enhancing passenger experience, driving innovation, and integrating sustainable practices across our operations while delivering a world-class experience for our guests. My heartfelt thanks to our Turkish Airlines family for making these achievements possible and to our passengers for their trust in our services.”

“Turkish Airlines has consistently redefined luxury travel, earning APEX World Class recognition year after year,” APEX Group CEO Dr. Joe Leader remarked. “Their unmatched global network, combined with a passenger experience enriched by world-renowned Turkish hospitality, sets a high bar for excellence. With the unveiling of their new Crystal Business Class suite in 2024, featuring enhanced privacy, larger seating, and exquisite design details, Turkish Airlines continues to elevate the standards of premium air travel, truly embodying the essence of APEX World Class by YATES+.”

About Turkish Airlines:

Established in 1933 with a fleet of five aircraft, Star Alliance member Turkish Airlines has a fleet of 472 (passenger and cargo) aircraft flying to 349 worldwide destinations as 296 international and 53 domestics in 130 countries. More information about Turkish Airlines can be found on its official website www.turkishairlines.com or its social media accounts on Facebook, X, YouTube, LinkedIn and Instagram. 

About Star Alliance:

Established in 1997 as the first truly global airline alliance, the Star Alliance network was founded on a customer value proposition of global reach, worldwide recognition, and seamless service. Since its inception, it has offered the largest and most comprehensive airline network, with a strong emphasis on enhancing the customer experience throughout the entire Alliance journey. The member airlines are: Aegean Airlines, Air Canada, Air China, Air India, Air New Zealand, ANA, Asiana Airlines, Austrian, Avianca, Brussels Airlines, Copa Airlines, Croatia Airlines, EGYPTAIR, Ethiopian Airlines, EVA Air, LOT Polish Airlines, Lufthansa, Shenzhen Airlines, Singapore Airlines, South African Airways, SWISS, TAP Air Portugal, THAI, Turkish Airlines, and United. Overall, the Star Alliance network currently offers 17,500 daily flights to over 1,150 airports in 189 countries. Further connecting flights are offered by Star Alliance Connecting Partner Juneyao Airlines. Star Alliance Press Office: Tel: +65 8729 6691 Email: mediarelations@staralliance.com Visit our website or connect with us on social media: 

Samsung Announces Biggest Ever Festive Offers On Galaxy Z Fold6 And Z Flip6 In India

* Consumers purchasing Samsung’s sixth generation foldables will additionally get Galaxy Z Assurance worth up to INR 14999 at just INR 999

Samsung, India’s largest consumer electronics brand, today announced exciting limited period offers on its immensely popular sixth-generation foldable smartphones - Galaxy Z Fold6 and Galaxy Z Flip6. 

Starting today, consumers purchasing Galaxy Z Fold6 will get the smartphone at as low as INR 144999 along with a 24 months no-cost EMI. Similarly, consumers purchasing Galaxy Z Flip6 will get the device at just INR 89999 with 24 months no-cost EMI as a part of a limited period festive offer. Galaxy Z Fold6 is priced starting INR 164999 and Galaxy Z Flip6 is priced starting INR 109999. Consumers seeking enhanced affordability can take advantage of the convenient EMI options starting as low as INR 2500 for Galaxy Z Flip6 and INR 4028 for Galaxy Z Fold6. 

Additionally, customers purchasing Galaxy Z Fold6 or Galaxy Z Flip6 will get Galaxy Z Assurance at just INR 999 for a limited period. The Galaxy Z Assurance programme, which provides complete device protection was originally priced at INR 14999 for Galaxy Z Fold6 and INR 9999 for Galaxy Z Flip6.  Under the Z Assurance programme, customers can now avail two claims in a year. 

Galaxy Z Flip6 and Galaxy Z Fold6 are the slimmest and lightest Galaxy Z series devices ever, and come with perfectly symmetrical design with straight edges. The Galaxy Z series is also equipped with enhanced Armor Aluminum and Corning Gorilla Glass Victus 2, making this the most durable Galaxy Z series yet. Galaxy Z Fold6 and Flip6 are equipped with the Snapdragon® 8 Gen 3 Mobile Platform for Galaxy, one of the most advanced Snapdragon mobile processors yet, combining best-in-class CPU, GPU, and NPU performance. The processor is optimized for AI processing and offers enhanced graphics along with improved overall performance.

The Galaxy Z Fold6 offers a range of AI-powered features and tools – Note Assist, Composer, Sketch to Image, Interpreter, Photo Assist and Instant Slow-mo – to maximize the large screen and significantly enhance your productivity. Galaxy Z Fold6 now comes with 1.6x larger vapor chamber for longer gaming sessions and ray tracing supports life-like graphics on its 7.6-inch screen that offers a brighter display of up to 2600 nits to deliver more immersive gaming.

The Galaxy Z Flip6 offers a range of new customization and creativity features so users can make the most of every moment. With the 3.4-inch Super AMOLED FlexWindow, consumers can use AI-assisted functions without even needing to open the device. Users can reply to texts with suggested replies, which analyzes their latest messages to suggest a suitable tailored response.

FlexCam now comes with the new Auto Zoom to compose the best framing for shots by detecting the subject and zooming in and out before making any necessary adjustments. The new 50MP Wide and 12MP Ultra-wide sensors provide an upgraded camera experience with clear and crisp details in pictures. Galaxy Z Flip6 now also comes with enhanced battery life and gets a vapor chamber for the first time.

Samsung Knox, Samsung Galaxy’s defense-grade, multi-layer security platform built to safeguard critical information and protect against vulnerabilities with end-to-end hardware, real-time threat detection and collaborative protection, secures Galaxy Z Fold6 and Z Flip6.

Galaxy Z Fold6 is available in three stunning colours- Silver Shadow, Navy Blue and Pink whereas Galaxy Z Flip6 is available in Silver Shadow, Mint and Blue. Both the devices are available across all leading online and offline retail stores.

About Samsung Electronics Co., Ltd.

Samsung inspires the world and shapes the future with transformative ideas and technologies. The company is redefining the world of TVs, smartphones, wearable devices, tablets, digital appliances, network systems and memory, system LSI, foundry and LED solutions. For latest news on Samsung India, please visit Samsung India Newsroom at http://news.samsung.com/in. For Hindi, log on to Samsung Newsroom Bharat at https://news.samsung.com/bharat. You can also follow us on Twitter @SamsungNewsIN  

Honda Cars India Releases Teaser image For The “All-New 3rd Generation Honda Amaze”

Honda Cars India Ltd, leading manufacturer of premium cars in India released the teaser for the “All-New 3rd Generation Honda Amaze”, an innovative and stylish premium compact sedan designed for young buyers and modern families.

Building on its successful legacy as India’s trusted and popular choice among entry sedans, the All-New Amaze combines bold design, cutting-edge technology, and Honda’s signature reliability to meet the lifestyle and aspirations of today’s dynamic generation.

Since its debut in India in 2013 and subsequent launch of 2nd Generation in 2018, Honda Amaze has set a benchmark for premium styling among entry sedans winning hearts of Indian consumers, and is celebrated for its stylish appeal, comfort, performance, safety and unbeatable value making it the perfect car for those starting new journeys. 

Commenting on the teaser release, Mr. Takuya Tsumura, President & CEO, Honda Cars India Ltd. said, “The Honda Amaze has always been a special product for us and our customers in India. As a pioneer in premium styling for entry sedans, the Honda Amaze has always set the standard for design and sophistication in its segment. With the 3rd generation, we are excited to take this to the next level, offering our modern Indian customers an enhanced premium package like never before.”

Mr. Itaru Otani Appointed New Chairman Of Yamaha Motor India Group

India Yamaha Motor (IYM) Pvt Ltd. is pleased to announce the appointment of Mr. Itaru Otani as the new Chairman of Yamaha Motor India Group.

Mr. Otani brings over three decades of experience with Yamaha Motor Company, having held key leadership roles across global markets, including Australia, Brazil, and Japan. With expertise spanning Sales, Marketing, and Corporate Strategy, he has consistently focused on Motorcycle Business Operations, strengthening Yamaha’s position worldwide. Prior to this role, Mr. Otani served as Chief General Manager, leading the Land Mobility Business Operations based out of Japan.    

Commenting on his appointment, Mr. Itaru Otani, Chairman, Yamaha Motor India Group of Companies, said, “It’s a privilege to lead Yamaha in a country as vibrant and full of potential as India. The aspirations of Indian consumers are evolving rapidly, and we see incredible opportunities to bring in products that blend Yamaha’s global expertise with the unique needs and desires of Indian riders. Our focus will be on promoting exciting, stylish and sporty two-wheelers that not only align with the market’s expectations but also set new benchmarks in design, quality, and innovation. I am looking forward to further strengthen Yamaha in India under ‘The Call of the Blue’ brand campaign and drive forward our long-term vision by unlocking new avenues of growth in one of the world’s most dynamic two-wheeler markets.”

About Yamaha Motor India Group of Companies

Yamaha Motor made its initial foray into India in 1985 as a joint venture. In August 2001, it became a 100% subsidiary of Yamaha Motor Co., Ltd, Japan (YMC). In 2008, Mitsui & Co., Ltd. entered into an agreement with YMC to become a joint investor in India Yamaha Motor Private Limited (IYM). IYM's manufacturing facilities comprise State-of-the-art plants at Surajpur (Uttar Pradesh) and Kanchipuram (Tamil Nadu). The infrastructure at these plants supports the production of motorcycles and parts for the domestic as well as overseas markets. YMC has established its subsidiaries - Yamaha Motor Research and Development India Pvt Ltd. (YMRI), Yamaha Motor India Sales Pvt Ltd. (YMIS) and Yamaha Motor India Pvt Ltd. (YMI) in India to independently support IYM in the development, sales & marketing of its products and overall business planning & regional control respectively.

Presently, its product portfolio includes YZF-R3 (321cc), MT-03 (321cc), YZF-R15 V4 (155cc), YZF-R15S V3 (155cc),  MT-15 V2 (155cc); FZS-Fi Version 4.0 (149cc), FZS-Fi Version 3.0 (149cc), FZ-Fi Version 3.0 (149cc), FZ-X (149cc), AEROX Version S (155cc), AEROX (155cc) and scooters like Fascino 125 FI Hybrid (125cc), Ray ZR 125 FI Hybrid (125cc), Ray ZR Street Rally 125 FI Hybrid (125cc).