Shriram Transport Finance Company Limited, one of the largest asset financing NBFC in the country, with a primary focus on financing pre-owned commercial vehicles is proposing a public issue of Rs 5,000 crores by issuing 5,00,00,000 (five crore) Secured Redeemable Non-Convertible Debentures (NCDs) of the face value of Rs. 1,000 each.
Through Tranch 1 Prospectus dated June 25, 2018 the company is offering to public for subscription 5,00,00,000 (five crore only) NCDs of face value of Rs. 1,000 each aggregating to Rs. 5,000 crore with a Base Issue consisting of 1,00,00,000 (one crore) NCDs of face values of Rs. 1,000 each aggregating to Rs. 1,000 crore with an option to retain over-subscription upto the Shelf Limit of Rs. 5,000 crore.
The issue will open on June 27, 2018 and close on July 20, 2018, with an option of early closure, subject to the Base Issue size being fully subscribed prior to such early closure and/or extension.
The proposed NCDs under this Issue have been rated ‘CRISIL AA+/Stable’ by CRISIL and ‘IND AA+: Outlook Stable’ by India Ratings and Research for an amount of upto Rs. 5,000 crore. These ratings indicate high degree of safety regarding timely servicing of financial obligations and carrying very low credit risk.
The funds raised through this issue will be used for onward lending, financing, and for repayment/ prepayment of interest and principal of existing borrowings of the Company and for general corporate purposes.
Options of investment tenors are 3, 5 and 10 years, with coupon of 9.10% p.a., 9.30% p.a. and 9.40% p.a. respectively with monthly, annual & cumulative payment options.
These NCDs, bearing a fixed rate of interest, are being offered under seven different series:
Series I and II are monthly options, having tenure of 5 years and 10 years respectively, and the Coupon shall be 8.93% p.a., 9.03% p.a. respectively.
Series III, Series IV and Series V are payable annually, having tenure of 3 years, 5 years and 10 years, respectively, and the coupon shall be 9.10% p.a., 9.30% p.a. and 9.40% p.a. respectively.
Series VI and VII are cumulative options, where face value and interest accrued are paid at the end of the tenure. Effective yield shall be 9.10% p.a., 9.30% p.a. respectively.
Additional incentive of 0.10% p.a for the individual investors across all series. Further, Senior Citizens (initial allottees) are entitled to additional incentive of 0.25% per annum across all series i.e 0.35%.
High Net-worth Individuals and Retail Individual Investors are collectively referred to as “Individuals”.
The NCDs are proposed to be listed on BSE Limited and National Stock Exchange of India Limited.
Axis Bank Ltd, AK Capital Services Ltd, Edelweiss financial Services Ltd, JM Financial Services Ltd, and Trust Investment Advisors Pvt Ltd are the Lead Managers to the Issue. Catalyst Trusteeship Limited is the Debenture Trustee to the Issue, while Integrated Registry Management Services Private Limited is the registrar to the Issue.
Amazon Prime offers unlimited free, fast shipping on millions of items from India’s largest online store, early access to top deals on Amazon.in, ad-free music listening through Amazon Prime Music and access to unlimited streaming of the latest and exclusive movies, TV shows, stand-up comedy and groundbreaking Amazon Prime Original series through Prime Video
Activate through the Vodafone Play app to enjoy the best of Prime – at no additional cost
Amazon and Vodafone announced that all Vodafone RED postpaid customers are eligible to receive a year of Amazon Prime (worth Rs 999) at no additional cost – providing customers the best in online entertainment and shopping: Prime Video, Prime Music and unlimited free fast shipping on millions of items along with early and exclusive access to deals on Amazon.in.
With this offering, Vodafone customers can enjoy unlimited streaming anytime, anywhere of premium movies and TV shows on Prime Video including the latest and exclusive blockbuster Hollywood, Bollywood and Indian Regional movies, top TV shows, stand-up comedies, kids programs and critically acclaimed Prime Original series like Breathe, Inside Edge, The Grand Tour, American Gods and coming soon, Comicstaan and Tom Clancy’s Jack Ryan. In addition, customers can stream ad-free music with unlimited offline downloads across tens of millions of songs in multiple languages – English, Hindi, Tamil, Punjabi, Telugu, Bengali and more – and get free fast delivery on millions of items with early access to deals and discounts on Amazon.
Commenting on this collaboration, Avneesh Khosla- Associate Director Consumer Business, Vodafone India said, “Today’s digitally savvy customer wants more freedom and flexibility in the way they consume content. This collaboration further strengthens our content proposition and our commitment to offer the best to our customers. It provides them access to thousands of movies, videos, TV Shows and music on the go. We are confident that Vodafone RED and Amazon Prime will provide a seamless on-the-go shopping and entertainment experience to our customers.”
Akshay Sahi, Director and Head of Amazon Prime India said, “We are thrilled to collaborate with Vodafone and make Amazon Prime available to more customers. Vodafone Postpaid customers can now experience Amazon Prime as a part of their plan, which provides customers an unparalleled combination of shopping and entertainment benefits. We believe these subscribers will love the many benefits of Prime; from watching the latest Bollywood and international video titles on Prime Video, to listening to the latest and best Indian and international music ad-free on Amazon Prime Music, to shopping exclusive deals on items they love most, to enjoying free fast delivery on millions of products.”
The annual Amazon Prime membership can be activated through the Vodafone Play app. Access to Prime Video is available after downloading the Prime Video app on supported devices. Similarly, one can enjoy Playlists and Stations specially curated by Amazon’s music editors across moods, activities, genres, artists and decades, by downloading the Amazon Prime Music app and avail shopping benefits by logging in with their Prime account credentials on Amazon.in.
Vodafone RED customers can activate their Amazon Prime membership in three easy steps:
* Upgrade to a Vodafone RED postpaid plan
* Download the Vodafone Play app from the iOS App Store or Google Play Store. Open the Vodafone Play app and
* Generate OTP by entering mobile number. Then validate and activate without any extra cost
Amazon India has announced the launch of a new monthly plan for its flagship membership program, Amazon Prime. Priced at Rs 129 per month, the monthly plan offers the same benefits as the annual plan, which include unlimited free and fast delivery, Bollywood and International titles on Prime Video, Ad-free music streaming on Amazon Prime Music and Prime Exclusive deals, but with the additional flexibility of paying for membership monthly. Customers who prefer to pay annually, can continue to sign up for the annual plan for INR 999 per year.
“We are excited to launch Prime monthly membership and offer more payment flexibility to customers. Customers are used to paying for a lot of services on a monthly basis – be it their rent, electricity and mobile bills, and we want to offer this same convenience for Prime. Monthly plan members enjoy all the same benefits as annual plan members do – free & fast shipping on millions of items, Exclusive deals on top products, the best Bollywood and International titles on Prime Video, and Ad-free streaming of millions of songs on Amazon Prime Music” said Akshay Sahi, Director & Head of Prime, Amazon India. “Bade benefits ab chhote monthly packs mein is how we like to think of our monthly plan!” he added.
Prime is Amazon’s flagship membership program, where for a subscription fee, members can enjoy amazing benefits. These include unlimited free 1 day and 2 day delivery without minimum purchase on millions of items, unlimited Video streaming on Prime Video including the latest & exclusive blockbusters from top Bollywood, regional, Indian & international studios, top international TV shows and ground-breaking Original shows, Ad-free music on Amazon Prime Music with unlimited offline downloads across tens of millions of songs in multiple languages including – English, Hindi, Tamil, Punjabi, Telugu, Bengali, exclusive deals on top brands and lots more. Now, Prime members will get to enjoy all the above benefits with the flexibility of paying for their membership on a monthly cycle.
Signing up for a monthly Prime membership is easy. Customers can go to www.amazon.in/prime Prime Video or Prime Music app and purchase the plan using any Credit Card or select Debit Cards. Once the membership starts, the membership will auto-renew on the same date of every month. There is no further action needed by members to enjoy uninterrupted Prime benefits.
Every Day Made Better with Prime
Prime is designed to make your life better every single day. Over 100 million paid members around the world enjoy the many benefits of Prime. In India, this includes unlimited access to award-winning movies and TV episodes with Prime Video; unlimited access to Prime Music, early access to select Lightning Deals and more. Prime was built on the foundation of unlimited fast, free shipping and members receive guaranteed free One-Day, Two-Day and Standard Delivery on millions of products in India.
Highlights:
· Eligibility criteria: Engineering Graduates/ Final Year Engineering students
· Duration: 6 months
· Modules: 5 modules + Project Work
· Course fee: Rs. 50,000/-
· Benefit: Competitive advantage for Business Leadership, Front line technocrats, Decision makers, Team/ Department heads (especially involved in commercial decisions)
The Institute of Cost Accountants of India (ICAI), the 2nd largest Cost & Management Accounting body in the world and the largest in Asia, has introduced an Executive Diploma Course on Cost and Management Accounting for Engineers. The Course has been specifically designed for Engineering professionals to help synergize their domain expertise with the commercial aspects of the business in the most practically oriented manner. The course aims at providing competitive advantage to engineering professionals with ambitious and leadership roles in businesses, wherein this enhanced knowledge in the domain of cost and management accounting (CMA), finance and corporate laws will provide clarity and efficiency in strategic decision making as well as operations.
The first batch will start in early July this year, to be followed by the second batch in December. Participants in the course will be evaluated through Online Examinations for each module of the course to be conducted twice in a year. Those scoring more than 50% in the examination for each module and obtain B or higher grade in the Project Work will be awarded the Executive Diploma in Cost and Management Accounting for Engineers by the Institute.
The six-month course covers critical and relevant topics under five modules, namely:
a) Costing Principles & Practices and Financial Accounting;
b) Contract Management and Industrial Laws, Commercial Laws & Company Laws;
c) Indirect Taxation (GST & Customs Law) and Project Management;
d) Treasury and Financial Services and Insurance & Risk Management; and
e) Advanced Cost & Financial Management and Management Reporting.
CMA Manas Kumar Thakur, Immediate Past President, Chairman - Board of Advanced Studies and Training & Education Facilities, Placement Committee, The Institute of Cost Accountants of India, explained, “It is crucial for Engineering professionals of any organisation, who are target oriented to reach the top positions (CEO, MD, CMD, etc.), to understand the framework of costing, accounting system in various decision making & financial reporting, resource mapping, effective utilization of scarce resources, essentials of project management, risk measurement analysis, treasury management, inventory management, working knowledge on taxation matters, understanding various ratios & their applications, working capital management, knowledge of various costing tools and techniques which are vital in strategic decision making. This course covers these issues proficiently and aims to help the managers in competent strategic decision making.”
CMA Sanjay Gupta, President, ICAI, shared, “Engineers today, are no longer the stereotype technical professionals, but have evolved to hold and manage various leadership roles in their respective organisations. It is imperative thus, that the additional responsibilities be aided by operational knowledge of the business fundamentals of Costing, Accounts, Taxation, etc. Our objective is to help provide valuable working knowledge on these essential elements of business, enabling engineers with the competitive edge in their career stride.”
In the modern competitive business environment, suitable and sound decision making is crucial. All professionals, irrespective of their domain expertise, need to understand the commercial aspects of the business, to contribute effectively and efficiently to strategic business decision making.
Engineers, being the frontline technocrats, are a part of the team for taking various commercial decisions in the interest of the organisation, which requires adequate expertise to understand the various facets of Cost, Finance, Taxation, Business Laws, and other commercial aspects.
Trend Micro Incorporated, a global leader in cybersecurity solutions, has been named a market leader in endpoint security — having been judged to have the highest score in the “current offering” category among the 15 evaluated vendors, given a five out of a possible five score for the strategy category and among the second-highest scores in the market presence category.
According to The Forrester Wave: Endpoint Security Suites, Q2 2018 report, ‘Trend Micro continues to offer the most flexible and fully featured suite on the market’ and ‘Trend Micro maintains its position as a market leader with continuous evolution of its prevention and detection engines along with best-in-class suite capabilities’.
Nilesh Jain, Vice President – South East Asia and India, Trend Micro said, “Endpoint market has been growing at a rapid rate and in the last few years, we have seen a lot of sophisticated attacks on endpoints. We at Trend Micro are committed and primarily focused on giving proactive protection to customers in any vertical be it server security, endpoint security or network security and providing solutions in this space. We are glad to be recognised and believe that it will help strengthen our performance in the long run.”
Eric Skinner, vice president product strategy, Trend Micro said, “We built our solution enhancements in response to the direct and on-going input of customers and prospects. In our view, this evaluation demonstrates that we continue to get it right. We believe that it’s another proof point that Trend Micro is a strong alternative to legacy AV solutions and has no need for additive products.”
Coming just a few months after being named a Leader in Gartner’s 2018 Magic Quadrant for Endpoint Protection Platforms (EPP), Trend Micro believes that this latest evaluation is more confirmation that its endpoint has advanced in the ways critical to the market.
Key criteria for the current offering includes malware and exploit prevention, behavioral detection, and product performance, which Forrester validated using customer feedback and third-party test results. Appraisal of strategy takes into account corporate vision and focus, security community involvement, and product road map, while judging market presence requires a focus on each vendor’s enterprise customer base and licensing partner presence.
Trend Micro is particularly gratified that customers gave the platform high marks for malware and exploit prevention efficacy, with a low negative impact on endpoint user experience.
“Admins appreciate the product’s high level of automation along with its flexibility and scalability to adapt to different operating environments,” the report stated, concluding that, “Trend Micro is still an easy shortlist addition for most enterprise environments requiring a full endpoint security stack.”
Trend Micro’s endpoint security technology is driven by its XGen approach: a cross-generational blend of threat defense techniques that intelligently applies the right technology at the right time, resulting in more effective and efficient protection against a full range of threats.
Soon after Swiggy, online insurance aggregator PolicyBazaar has joined the coveted club of ‘Unicorn’ in India. The Gurugram-based company has raised around $236 million in its Series F round of funding led by SoftBank.
According to Yashish Dahiya, co-founder of PolicyBazaar, the total round including primary and secondary investments is about $236 million (primary: $206 million and secondary: $30 million) of which large party, i.e., around $150 million came from SoftBank, reports the media.
The investment round also saw a participation of company’s existing investors InfoEdge, Temasek, Tiger Global Management, True North, and PremjiInvest. In a separate report, Mint has confirmed PolicyBazaar hitting $1 billion valuation through a company statement.
Dahiya’s further revealed that his mother and father-in-law also invested around Rs 1 crore in their personal capacity.
As far as the PolicyBazaar’s valuation is concerned, Dahiya said that his company isn’t bothered about that. However, the company’s valuation has seen a decent 2X jump from the last valuation after it had raised Rs 500 crore led by global asset management firm Wellington Management, private equity firm True North and IDG Ventures India.
Regarding the company’s much-rumoured IPO aspiration, Dahiya explained that the company is not going public anytime soon. With the backing from SoftBank, PolicyBazaar is planning to invest a majority of the fund in healthcare space.
According to the aforementioned Mint report, the company will launch a new unit – DocPrime, a marketplace for doctors connecting patients. Actually, PolicyBazaar aims a bigger opportunity in the health-insuring segment.
It sets to strike tie-ups with clinics, diagnostic centres, and hospitals to launch OPD-specific insurance products and in future, it will have its own health insurance products under DocPrime.
Founded in 2008, PolicyBazaar is an insurance policy comparison website run by EtechAces Marketing and Consulting Pvt. Ltd. With this round, it has raked in over Rs 2,600 crore risk capital from multiple investors.
It claims to clock around 300,000 transactions on a monthly basis and also broke even in the financial year 2016-17 with a total revenue of Rs 220 crore.
The Central Electro Chemical Research Institute (CECRI), Karaikudi, Tamil Nadu under Council of Scientific & Industrial Research (CSIR) and RAASI Solar Power Pvt Ltd have signed a Memorandum of Agreement for transfer of technology for India’s first Lithium Ion (Li-ion) battery project.
The agreement was signed in Bengaluru recently by Dr Vijayamohan K. Pillai, Director, CECRI and C. Narasimhan, Chairman-cum-Managing Director of RAASI Group in the presence of Union minister for Science & Technology Dr Harsh Vardhan.
A group at CSIR-CECRI headed by Dr Gopu Kumar has developed an indigenous technology of Lithium-ion cells in partnership with CSIR-National Physical Laboratory (CSIR-NPL) New Delhi, CSIR- Central Glass and Ceramic Research Institute (CSIR-CGCRI) Kolkata and Indian Institute of Chemical Technology (CSIR-IICT) Hyderabad. CSIR-CECRI has set up a demo facility in Chennai to manufacture prototype Lithium-Ion cells. It has secured global IPRs with potential to enable cost reduction, coupled with appropriate supply chain and manufacturing technology for mass production.
Currently, Indian manufacturers source Lithium Ion Battery from China, Japan and South Korea among some other countries. India is one of the largest importers and in 2017, it imported nearly 150 Million US Dollar worth Li-Ion batteries.
“Today’s development is a validation of the capabilities of CSIR and its laboratories to meet technology in critical areas to support our industry, besides other sectors,” said Dr Harsh Vardhan after the signing ceremony. “It will give tremendous boost to two flagship programmes of Prime Minister Narendra Modi – increasing the share of Clean Energy in the energy basket by generating 175 Giga Watts by 2022, of which 100 Giga Watts will be Solar and the second, National Electric Mobility Mission, to switch completely to electric vehicles by 2030.”
Dr Harsh Vardhan said, the project is in tune with Prime Minister’s vision of “Make in India”, to turn India into a manufacturing hub and to cut down outflow of foreign exchange.
Raasi Group will set up the manufacturing facility in Krishnagiri district of Tamil Nadu close to Bangalore. “We want to bring down the cost of cell manufacturing below Rs. 15,000/- per KW to replace Lead Acid Battery,” said Narasimhan. “We also have plans to make Lithium Ion battery for solar roof top with life span of 25 years to make it affordable enough to drive the Photo Voltaic segment.”
Li-Ion batteries have applications in Energy Storage System – from hearing aid to container sized batteries to power a cluster of villages, Electric Vehicles (2-wheeler, 3-wheeler, 4-wheeler and Bus), portable electronic sector, Grid Storage, Telecom and Telecommunication Towers, Medical Devices, Household and Office Power Back (UPS), Powering Robots in Processing Industry. Lithium-ion batteries can power any electrical application without the need of physical wires-means wireless.
Dr Jitendra Yadav, Director, CSIR-National Aerospace Laboratories, Bengaluru, Dr Vidyadhar Mudkavi, Director, CSIR-4PI, Dr. M. Annadurai, Director, ISRO Satellite Centre, Bengaluru were also present on the occasion. Dr Annadurai stressed, the Li-Ion cells developed by ISRO is primarily for space applications and there is room for convergence.
