Bandhan Bank IPO Price Band at Rs 370-375 Closes on March 19

Bandhan Bank Ltd, the newest among the private lenders said it will launch an IPO (initial public offering) of Rs 4,473 crore on March 15. The issue closes on March 19. The Kolkata-based bank, which transformed into a bank in 2015 from a micro-finance institution in 2001, will be selling up to 119.3 million shares in a price range of Rs 370-375 each in the IPO, according to a statement by the bank.

Kotak Mahindra Capital, Axis Capital, Goldman Sachs, JM Financial and J.P. Morgan are the banks managing the IPO. Bandhan will use the proceeds of the issue to expand its network to other parts of the country and also invest in technology, said Chandra Sekhar Ghosh, MD and CEO of Bandhan Bank. The bank will bring down the promoter holding to 82 per cent from 89 per cent post the IPO.

The Reserve Bank of India’s guidelines mandates banks to get listed within three years from the commencement of banking operations. Bandhan Bank started operations in August 2015. The bank is the first microfinance institution to receive universal banking licence.

Axis Bank Building Robust Digital Banking Ecosystem with New Axis OK and Axis Pay UPI

Axis Bank's mobile banking spends touched Rs. 51,030 cr in Q3FY18, increasing 71% YoY, thereby reinforcing the Bank's commitment to accelerate the ‘Digital India’ agenda. Equally compelling is to note that over 66% of the Bank’s transactions were made through ‘digital modes’ in Q3FY18 as against 52% in Q1FY17. 

The Bank’s focus on cards, both credit and debit, also continues to remain high with Axis continuing to be the market leader in installing ‘card-acceptance terminals’ – as of Q3FY18, the number stood upwards of 479,200. Also, Axis Bank continues to invest in newer cashless and digital payment methods, which would help get a larger population to embrace digital payments. AxisPay UPI has also witnessed over 10.4 million registrations since its launch accounting for over 65 lakh Virtual Payment Addresses (VPAs).

Speaking at the press meet, Rajiv Anand, Executive Director – Retail Banking, Axis Bank, said, “The Government’s focus on making the country embrace digital payments has been relentless. With digital transactions touching the Rs. 1 billion mark in December last year, we at Axis Bank truly believe that the adoption of digital transactions has gained momentum, thanks to the multiple initiatives taken by the centre.  ‘Payments’ has always been at the core of Axis Bank’s business priorities and it is heartening to note that consumers continue to embrace the various digital modes of payment. We have always taken the lead in helping the customers in their ‘digital journey’ through our sustained commitment towards safe, convenient and innovative digital channels.”

As per data released by the Reserve Bank of India, in January this year, banking transactions through digital mode rose 6.57% to Rs. 1.06 billion in December from Rs. 998.5 million in November. This was the first time that the transaction volume crossed the Rs. 1 billion mark. The overall value of these transactions was also the second highest in a month in the last one year. Transaction worth about Rs. 125.51 trillion were carried out in December through credit and debit cards, the unified payments interface (UPI), unstructured supplementary service data (USSD), prepaid payment instruments (PPIs) and internet banking.

In May 2017, Axis Bank launched Axis OK - a lite, secure and easy-to-use multilingual mobile app to empower users with basic feature phones to access basic banking digitally, without heavy data consumption. The app, which is under 900 kb in size, is one of the lightest banking applications with an aim to offer digital banking services to a large number of customers.

Axis Bank's commitment towards providing a congenial environment for the startup community has been exemplified through its ‘Thought Factory’ located in Bengaluru. This is a one-of-its-kind innovation lab which empowers and provides a platform for startups to expand and create avenues with investors and companies. 

Sasken 5G, Cellular V2X, and Computer Vision & Machine Learning-based Automotive Solutions Showcased at Mobile World Congress 2018

Sasken Technologies Ltd., (formerly Sasken Communication Technologies Ltd.), a leading product engineering and digital transformation solutions provider, recently participated in Mobile World Congress held from February 26 to March 1, 2018, in Barcelona, Spain. At the event, Sasken showcased its expertise in the areas of 5G, Cellular V2X, and Computer Vision & Machine Learning-based Automotive Solutions.

At MWC 2018, Sasken displayed its solutions for the autonomous car such as mobile application for Driver Alertness Detection/Warning, Object Detection, Lane Detection and Warning and Auto Tagging solution. Sasken also showcased a solution for V2V breakdown which shows how a vehicle is warned (using V2V) about a collision or accident in front of it. This help the vehicle take corrective action such as changing the route, slowing down, etc.

Speaking about Sasken’s participation in the event, Hari Haran, President, Global Sales, Marketing, and Business Lines, Sasken, said, ‘’We were delighted to be part of this year’s Mobile World Congress, as it provided a fantastic opportunity for Sasken to highlight its expertise globally. Sasken is enabling its clients to lead into the future by leveraging our deep domain expertise, cutting edge competencies, and unique value propositions. A significant percentage of our customers have been engaged with us for over two decades. This is testimony to our stellar track record of delivering quality and value to our customers. MWC 2018 was a great kick-start to the year as it served as a key platform for industry leaders to witness the latest technology advancements that will drive tomorrow’s future.”

Today, Sasken is enabling over 100 customers worldwide to build their flagship products. These include end-to-end development of LTE-based satellite terminals and solutions for the Connected and Autonomous car (V2X, ADAS and infotainment). Sasken is enabling its industrial customers to develop next-gen products for their smart factories. Sasken is also investing in accelerating 5G deployment that will make V2X connectivity, digitizing factory floor, and automated driving possible.

For close to three decades, Sasken has been serving some of the world’s leading semiconductor companies, automotive tier-1s/OEMs, smart device and rugged device OEMs, and satellite service providers in building world-class products. Sasken is working with leaders in the IoT ecosystem to enable cognitive technologies and data-driven solutions for a better tomorrow.

MAGGI Turns 35 - Rolls out new thinking under ‘Kuch Achha Pak Raha Hai’

The most iconic food brand in India, MAGGI has turned 35 years. MAGGI began its journey in 1983, with the launch of MAGGI 2-minute noodles. Since then MAGGI has brought about constant innovation in the food category through a host of launches in a number of categories, such as the taste-enhancer ‘MAGGI Masala-ae-Magic’, MAGGI Tomato Ketchup and Hot & Sweet, MAGGI Vegetable Atta Noodles, and many more.

Over the years, MAGGI has become a much-loved brand across the country. In-sync with the changes in society, MAGGI aspires to embody contemporary thinking by recognizing the larger impact women have on the society. Along these lines, on this Women’s Day, MAGGI rolls out its new campaign “Kuch Achha Pak Raha Hai” that recognizes the changing status of women (http://bit.ly/2IdXMsi)

MAGGI as a brand believes that cooking does not stop in the saucepan. The simple act of cooking does not just make us more curious, creative and empathetic, it also teaches us independence, resourcefulness and awareness. Through “Kuch Achha Pak Raha Hai” MAGGI aims to drive advocacy on this thought, supported through multiple initiatives.

For starters, MAGGI will launch a new campaign to reveal this thought with MAGGI ‘Masala-ae-Magic’. The ad revolves around a story of a mother and son, wherein the mother encourages her son to let his wife work after marriage. This campaign makes the point, just as recipes are changing, so are relationships.

Another key initiative as part of this changing MAGGI, is a campaign where we will be opening up “our kitchen”, branded “From Our Kitchen To Your Kitchen”, where consumers will be invited to learn about our products and how they are made.

Speaking on the roll out Maarten Geraets, General Manager, Foods, Nestlé India said “Our consumers are seeking more information on our products than ever before, and this campaign will allow consumers to get the understanding they seek. MAGGI aims to show-case the product journey, right from procurement of raw materials to the manufacturing, and the role it plays in your diet. The style of storytelling is aimed at eliciting interest amongst consumers and inviting them to ask any question. This campaign will leverage our 24x7 Consumer Engagement Services team and our digital asset – www.maggi.in. We are very happy to have partnered with Rocky and Mayur to make a series of digital films as part of this campaign.

CRY Indicates Working Child Reduced by 56% in Rural Karnataka

According to the latest  available figure released by government instances of child labor in Karnataka has reduced by 49 percent.  This wave of change is been led by rural Karnataka with almost 56 percent of decline in terms of child labour instances in that sector. However nearly 2 million girl child in Karnataka are battling their childhood consumed by the agriculture, forest and in urban set-ups. The fight against child labour needs to continue till we can ensure right of childhood for the last child of our nation and mitigate this problem completely.

Gender specific child labour roles see a girl child mostly working in the agriculture, forestry and fishing sectors amounting to almost 62.8 percent. The next highest sectors with the largest number of working girls is Arts, Entertainment and recreation, Activities of Households as Employers, Undifferentiated Goods and Services and related sector taking another chunk of more than a quarter (27.9 percent) of working girls.

Child Rights and You (CRY) has been one of strongest voices for children and working in tandem with local bodies to ensure that this problem can be fought.  Raichur which is second in terms of total number of working girls fall among CRY’s intervention area where the organization has been working to bring long terms sustained changes.

In Karnataka, CRY is working intensively on a targeted 99 villages or slum areas out of which 52 of them are in Raichur. CRY has been successful in reaching out to 12882 children between 0-18 years out of which 6312 of them are girls in the last one year.

In the domain of CRY’s working area there are still 1050 number of children engaged in child labour activities and 127 of them are from the troubled district of Raichur where instances of girl children working are more

CRY believes in long term and sustainable change. Spreading awareness and convincing the family on the importance of education and thereby discouraging them from engaging their child from any form of labour is the first layer of intervention. This is circumferenced by promoting education in the area. From upgrading existing schools to setting up of schools in that area is taken with utmost importance. Also, providing services like transport and tracking of families from a door-to-door approach is been taken up to ensure positive results.

CRY’s experience working on the issue for a long time shows that under the purview of labour all children might not be covered due to exemptions in law, lack of societal willingness to come and discuss about this issue and unavailability of a child due to their long engagements with work and study making the data an indication than an actual representation of the problem.

At CRY we don’t segregate children in terms of age and have a no-tolerance attitude towards child labour. Our experience shows that lot of instances of child labour go unnoticed. There are children who are working before and after going to school and thus being exposed to unparalleled mental and physical strain. We need to provide education and bring awareness within the family bring a systematic change,” said Suma Ravi,

Regional Director of Child Rights and You (CRY).
In the hindsight, there is another worrying trend that shows child labour in Karnataka is becoming increasingly urbanized, with a close to 56 percent  increase in  girls engaged in labour activities over the last decade 2001-2011. The worrisome data is backed by the highest number of girl child working being from Bangalore.

The top 5 districts for working girls between 5-14 years in Karnataka are given below. Together these 5 districts account for 45% of the working girls in the state.

Overall picture:
10.13 million child laborers are between 5-14 years in India (2011 Census data). Child labour in 2011 has decreased by around 20% from 2001 Census Figures. When compared with the 2001 figure percentage of girls and boys decreased by 23% and 17% respectively in 2011 .

Karnataka is the state with 9th highest no of working children, accounting to almost 4.2% of all working children in India

QuEST Global Aquires EXILANT Technologies to Blster Capabilities in Converging World and Enter New Markets

QuEST Global Services (QuEST Global), a global leader in providing premium engineering solutions, has announced the acquisition of EXILANT Technologies, an advanced technology provider, based out of Bengaluru, India. The acquisition, a significant move for QuEST Global’s 2020 diversification strategy, will strengthen QuEST Global’s advanced technology capabilities, and expand our footprint into the Hi-Tech industry.

 EXILANT is QuEST’s fourth acquisition this financial year after the acquisition of DETECH Fahrzeugentwicklung GmbH, IT Six Global and Mobiliya Technologies headquartered in Germany, Romania and Singapore, respectively. Each acquisition has added high value skills and focus to create one of the broadest portfolio offerings of any engineering services company.

 Founded in 2004, EXILANT has over 900 employees worldwide with locations in India, Singapore, London and Silicon Valley in the US. EXILANT provides software products and services for product engineering services, mobility and social media applications, business intelligence and analytics, and cloud-based services.

 Sreenath Murthy, CEO of EXILANT said, “This is a big milestone in the journey of EXILANT and forms a perfect launch pad for accelerated growth in a converging world. EXILANT's capabilities in developing new solutions, and rapid adoption of next generation technologies, combined with QuEST’s expertise in the industrial and mechanical world will help us enable our mutual customers to adopt advanced technologies and win in their respective markets.”

 Ajit Prabhu, Chairman & CEO, QuEST Global said, “QuEST is a leader in the industrial and mechanical world. We will continue to extend our position into adjacent vertical markets, and help all our customers embrace and integrate new technologies to lead their industries. Our acquisition of EXILANT Technologies is strategic as QuEST broadens our customer base and expertise to meet our customers’ needs in rapidly changing markets.”

Iconic Bridge Project Connecting Hong Kong to Zhuhai and Macau Adopts BIM Methodology, Reducing Construction Costs by 12%

The Leighton-Chun Wo joint venture standardized on a BIM methodology to drive consistency on this large multi-discipline design project that will connect Hong Kong, Macau, and Zhuhai. This revolutionary project includes 50 kilometers of bridges and tunnels and will create a distinctive entry point to Hong Kong. Leighton Asia conducted the civil, electrical, mechanical, structural, subsurface, and building work as the lead contractor for this ambitious project. The 130-hectare site will include site formations, roads, bridges, clearance buildings, footbridges, steel roofs, and various public facility buildings. Despite the challenge of a project team spread across several countries using a range of software applications, Leighton Asia provided consistency and uniformity for the design, survey, and construction of this transportation gateway, scheduled for completion in 2018.

For this USD 4.6 billion project, Leighton Asia leveraged Bentley technology to meet a variety of construction challenges. By standardizing on MicroStation’s DGN format, architects, engineers, contractors, and surveyors had simplified access to their design models and associated data. For the roadway design, the team used OpenRoads for conceptioneering the proposed designs. It then cross-referenced against the as-built, which ensured accuracy and improved error resolution. iModels were used as the data exchange format to ensure fidelity and integrity of engineering data. Bentley Navigator was used for clash detection and analysis, which resolved errors and issues prior to construction, reducing construction costs by 12 percent. Moreover, the team used ProjectWise as the connected data environment ensuring the engineering data could be access by a distributed project team.

Implementing BIM processes enabled a new method for working, which created a new culture within the organization that improved efficiency and streamlined workflows. By following BIM processes, project participants were trained using the same comprehensive modeling environment and BIM applications. Additionally, surveyors and design teams used Bentley’s reality modeling solution to capture and enliven digital photographs and point-cloud data of the existing site conditions. Leighton Asia contracted The Earth Solutions for technical and training support to integrate the reality mesh into the engineering environment, ensuring 3D BIM models could be cross-referenced with continuously surveyed models. This coordination reduced the cost associated with surveying by 15 percent by streamlining their workflows and adding expertise.

“Bentley’s civil BIM advancements bring BIM to the next stage by multiplying its benefits, especially in challenging and large-scale infrastructure projects. This platform has enhanced our collaboration with various stakeholders to import, acquire, and exchange valuable information.” says  Michael Kin Wong, Survey Manager, Leighton Asia