Spice Mobility Transforms its Corporate Identity to DiGiSPICE Tech, Forays into the Larger Digital Tech and Fintech-Ecosystem

Spice Mobility Limited, in its Board meeting held today, announced its consolidated Financial  results  for  the  quarter  and  year  ended  31st  March  2019,  posting  a  Revenue  of  Rs 376.68 Cr as against the previous year revenue of  Rs 280.52 Cr,  a growth of 34 % year on year and also  reported  a  Profit  after  tax  of  Rs 9.08 Cr  as  against  a  Loss  of  Rs 44.70 Cr in the previous year.

The Board of Directors also recommended a dividend of 15% of the paid-up equity capital of the Company for the year ended 31st March 2019, subject to shareholders’ approval.

The Company launched its digital initiatives in the last 12 months under the ‘’DiGiSPICE‘‘ brand and has seen notable success in developing countries like Indonesia, Bangladesh, Kenya and other countries in Sub-Saharan Africa apart from India. The Company also launched its Digital Financial Technology services business through its subsidiary company. Branded “Spice Money”, the digital platform offers financial services in semi urban and rural India.

Announcing the above developments, Mr. Dilip Modi, Chairman of the Company said: “There are two megatrends that we, at DiGiSPICE, are very excited about. The first megatrend that we are seeing is that worldwide Telcos, enterprises and governments are aggressively working on their digital transformation blueprints. DiGiSPICE Technologies, with a pedigree of digital, aims to work closely as partners with telcos and enterprises across developing and developed markets in enabling their digital transformation journey.

The second megatrend that we are witnessing is around ‘BHARAT’ going DIGITAL. Spice Money, a wholly owned subsidiary of DiGiSPICE Technologies, is working to financially empower a billion people in BHARAT using digital platforms. We, have, to date, on boarded over 200K next door kirana stores as our customer service partners on the Spice Money digital platform. More than 5 million customers are availing financial services at these Spice Money customer service points every month. We are committed towards building DiGiSPICE Technologies into a leading NextGen digital services and products company in the emerging new technologies space” added Mr. Modi.

As a part of its continuous effort to professionalize the management of the Company, the Board had recently appointed Ms. Preeti Das, as the CEO of Spice Mobility. She brings over three decades of global experience from multiple large organizations like Microsoft, Oracle, Birlasoft etc. in IT and Digital services. She will lead the Company’s Digital transformation journey with a view to create a leadership position for DiGiSPICE in offering Digital technology services to Telcos, Enterprises and Governments across the world.

The Company further announced completion of a demerger process through a Scheme of Arrangement, which has been duly approved by NCLT, Delhi. The Scheme paves the way for:

i) Consolidating all the technology services businesses under Spice Mobility, making Spice Mobility a Digital Technology Services Company.

ii) Creating a separate Digital Financial services company, as its wholly owned subsidiary.

In order to give a true representation of the nature of Company’s business, the Board of Directors also proposed:

a)       Change of name of ‘’Spice Mobility Limited’’ to ‘’DiGiSPICE Technologies Limited’’ and change of name of its subsidiary ‘’Spice Digital Limited ‘‘to‘’ Spice Money Limited’’, subject to necessary approvals. While ‘DiGiSPICE Technologies Limited ‘will focus on providing digital technologies services, ‘Spice Money Limited ‘will be the FINTECH subsidiary of the Company, focusing on driving digital financial services in India.

b)       An application to be made to the Stock Exchanges to reclassify Spice Mobility Limited (New name ‘DiGiSPICE Technologies Limited ‘) from the current Industry classification of ‘’Telecom -Telecommunication Equipment ‘‘to ‘’Information Technology -Software and Services -IT Consulting and Application software ‘’ sector. This will enable the Company to rightly position itself with customers, partners, investors and analysts and also enable investors to compare and analyze the performance of the Company with the right Industry benchmarks.

AURIC India’s Greenfield Smart Industrial City Holds Roadshow for Industries, MNCs, Entrepreneurs & Corporates in Bangalore

 

Aurangabad Industrial Township Limited conducted a Roadshow in the City to apprise a business gathering comprising Industries, MNCs, entrepreneurs, corporates and domestic enterprises based in Bangalore and Karnataka region on the opportunities, benefits, and advantages offered by the India's first Greenfield Industrial Smart City - AURIC (Aurangabad Industrial City). Addressing the gathering were Mr. Gajanan Patil (Jt. Managing Director, Aurangabad Industrial Township Limited), Mr. T. Parabrahman( Former Chairman, CII Karnataka), Mr. Prasad Kokil (MD, Sanjay Group) and Mr. Vijay Patil (General Manager, MIDC).

Aurangabad Industrial City (AURIC), a well-planned and one of its kind Greenfield smart industrial city is being developed across an area of 10,000 acres in Maharashtra as a part of Delhi – Mumbai Industrial Corridor (DMIC) and promoted by Aurangabad Industrial Township Limited (AITL), a special purpose vehicle and partnership between DMICDC (an agency of Government of India) and MIDC (the investment promotion and facilitation arm of the state government of Maharashtra).

The Delhi Mumbai Industrial Corridor (DMIC) is India`s most ambitious and one of the world's largest- infrastructure programme. Its goal is to develop new industrial cities as 'Smart Cities' and converge next generation technologies across infrastructure sectors. In the first phase, eight new cities are being created. With an estimated investment of US$100 billion, a high-tech industrial zone is planned, spread across six states.

Mr. Gajanan Patil, Jt. Managing Director, AURIC, said, “AURIC has attracted a record investment of Rs. 3,600 crore (Rs. 36 billion) in CY 2018 from investors. AURIC has allotted 52 plots comprising 507,164 sq. mt. Infrastructure packages of Rs. 7,947 crore (Rs. 79.47 bn) has been approved by the Government of India to help AURIC offer high-value, sustainable infrastructure that will support long-term economic vitality, a high quality of life, and a knowledge-based ecosystem with breakthrough innovation and efficiency. AURIC is expected to attract investment of Rs. 60,000-70,000 crore (Rs. 600-700 bn) from global players, which will generate employment for lakhs of people. The value of the output is expected to be exports of USD 11.6 billion and Industrial output of USD 46.2 bn”.

Investors include Hyosung Corporation of South Korea, the largest global spandex producer. Several global companies from the US, Europe, Russia, China, Japan and South Korea have also been considering investments in AURIC –  e.g. Fuji Silvertech Japan’s leading precast concrete manufacturing company. Companies closer home around AURIC include Skoda, Siemens, Bajaj, Johnson & Johnson, Crompton & Greaves, Perkins, Liebherr, Lupin, Endress + Hauser, Wockhardt & Endurance amongst others.

AURIC aims at offering high-value, sustainable infrastructure to support long-term economic vitality, a high quality of life, and a knowledge-based ecosystem with breakthrough innovation and efficiency. It is positioned to create over 150,000 jobs as employment along with housing for over 300,000 people including industrial workforce and their families while truly embracing the concept of live, work and play.

Besides a rail and highway network that connects the new city to major cities in India, AURIC is only 15 minutes away from the Aurangabad International Airport and provides direct flight connections to key hubs at Mumbai, Delhi and other Metro cities of India. The Jawaharlal Nehru Port Trust’s dry port and container terminal at Jalna is only 40 kilometres away. This will give industries at AURIC an easy access to India’s largest sea port of the country – the JNPT.

AURIC is India’s 1st ‘Walk-to-Work’ Smart Industrial City. The concept of ‘Walk to work’ which encourages housing options, workplaces, and shopping centres, to be developed in the vicinity of each other, will be implemented. This concept also includes walkable streets and blocks and reachable public spaces. This new integrated industrial township will be a congregation of office spaces, residences, hotels, large & small format retail, hospitals, schools, parks, entertainment hubs and lots more. 60% of the total land has been utilized for industrial purposes, while 40% is for residential, commercial, institutions, open spaces and social-cultural amenities. Thus fueling tremendous economic growth and creating a thriving, vibrant community to live, work and play. To implement this vision, a state-of-the-art smart technology will be employed, infrastructure will focus on clean, reusable and recycling methodologies, and industrial growth will be encouraged in targeted areas to build upon the industrial success of the region.

The Future-ready Smart Industrial City will showcase Smart Governance features such as e-LMS (Land Management System) which is specially developed for AURIC. This is the first-of-its-kind system in the country in which land allotment has been made simpler and efficient with a vision of ensuring 100% digital and paperless transactions. AURIC will provide a high grade and cost-efficient power source, with a reduced carbon footprint and compact design. Operated out of a GIS substation with a SCADA system, residents are assured 24x7 reliable power with an underground cable for every plot and ICT enabled “Smart + Connected” City components including Fiber optic infrastructure, Public Wi-Fi, AURIC e-Governance and ERP (AEE), Surveillance system, Internet of Things (IoT) for utilities, Multi-Services digital kiosks, Environmental sensors, e-Education and e-Healthcare, Smart poles, Cloud hosting.

Land Rover Introduces a 221 kW (300 PS) Petrol Powered Range Rover Sport from ₹ 86.71 Lakh

Jaguar Land Rover India, has announced the launch of the 2.0 l petrol derivatives of the Model Year 2019 Range Rover Sport in India, priced at ₹ 86.71 lakh. Available in S, SE & HSE trim, the new derivative is powered by a 2.0 l petrol engine with a twin-scroll turbocharger, that delivers a power output of 221 kW and 400 Nm of peak torque.

Rohit Suri, President & Managing Director, Jaguar Land Rover India Ltd. (JLRIL), said: “The success of the Range Rover Sport has been integral in driving demand for the Land Rover portfolio in India. The Model Year 2019 2.0 l petrol derivative should further increase the aspirational value of the flagship model at an attractive and exciting price.”

Combining driving pleasure, fuel economy and refinement with unparalleled capability, the Range Rover Sport is perfectly proportioned, enhancing the dynamic design and contemporary feel with features such as the sliding panoramic roof and powered tailgate. For 2019, the Range Rover Sport comes with a range of exciting features including three-zone Climate Control, Protect, Control Pro, Park Pack and Cabin Air Ionisation.

Seamlessly integrating technology in the overall driving experience, the Range Rover Sport comes with a contemporary interior and advanced features such as the Touch Pro Duo infotainment system, 31.24 cm (12.3) Interactive Driver Display and full colour Head-up Display.

Further details on the Range Rover Sport are available on www.landrover.in   

Land Rover Product Portfolio in India

The Land Rover range in India includes the Discovery Sport (starting at ₹ 44.68 Lakh), Range Rover Evoque (starting at ₹ 52.06 Lakh), Discovery (starting at ₹ 76.94 Lakh), the Range Rover Velar (starting at ₹ 72.47 Lakh), Range Rover Sport (starting at ₹ 86.71 Lakh) and Range Rover (starting at ₹ 181.86 Lakh). All prices mentioned are ex-showroom prices in India.

Jaguar Land Rover Retailer Network in India

Jaguar Land Rover vehicles are available in India through 26 authorised outlets in Ahmedabad, Aurangabad, Bengaluru, Bhubaneswar, Chandigarh, Chennai, Coimbatore, Delhi, Gurgaon, Hyderabad, Indore, Jaipur, Kolkata, Kochi, Karnal, Ludhiana, Mangalore, Mumbai, Nagpur, Noida, Pune, Raipur, Vijayawada and Surat. 

Kansai Nerolac Launches with Royal challengers Bangalore ‘Colour Trails Wall Designs’, Inspired through Photo-Walks

Kansai Nerolac Paints Ltd (KNPL), one of the leading paint companies in India launched their new offering, ‘Colour Trails Wall Designs’ with star players from the Royal Challengers Bangalore (RCB) team. The event witnessed Mr. Peeyush Bachlaus, General Manager Marketing, Decorative Paints, Kansai Nerolac Paints Limited launch the designs along with RCB players Captain Virat Kohli, Umesh Yadav, Yuzvendra Chahal, Dale Steyn and Tim Southee. Kansai Nerolac Paints is a team sponsor for Royal Challengers Bangalore (RCB).

‘Colour Trails Wall Designs’ by Kansai Nerolac is a unique theme-based photowalk initiative wherein each wall design is inspired by images clicked by photography enthusiasts across different places in India. These inspirations are then converted into wall designs for the home. This edition of wall designs takes inspirations from cities like Delhi (Rustic yet modern), Jaipur (Hawa Mahal), Kolkata (festivities and culture) and Mumbai (eclectic streets) to name a few.

Speaking on the launch, Mr. Peeyush Bachlaus, General Manager Marketing, Decorative Paints, Kansai Nerolac Paints Limited said, “At Nerolac, we constantly work towards creating experiences that transform, inspire and touch lives. The idea behind Colour Trails Wall Designs is to offer our customers an opportunity using inspiration from all round us to  personalize their home space. We have taken the photography route to bring alive one’s inspiration in the form of these wall designs and each design has a unique story to tell. It also makes a great gift for loved ones, to mark occasions and experiences shared together. We are happy to have launched this initiative with Royal Challengers Bangalore.”

Mr. Sanjeev Churiwala, Chairman of Royal Challengers Bangalore commented, “We are delighted to launch the Colour Trails Wall Designs initiative by Kansai Nerolac Paints Limited. As cricketers, the team is always travelling to new places, meeting new people and experiencing new cultures. This property is a perfect medium for them and others to bring to life their experiences in their homes.”

So far, 70 such Colour Trails have been organized by Kansai Nerolac across different parts of the country, connecting more than 1000 customers on ground and over 10 million users across social media platforms.

Goldmine’s ‘Forward’ Wins Social Media Mandate for Bank of Baroda

Established in 2014, Forward - Goldmine’s digital arm, has once again won the Social Media mandate in a multi-agency pitch and will service Bank of Baroda, India’s second largest public sector bank for another 3 years starting April 2019 across creative, media and ORM-led services.

Forward has launched the bank’s various digital platforms in 2016 and has helped Bank of Baroda connect with a new audience and push its new digital banking products. The agency has also assisted the bank leverage its partnerships with multiple events across the country.

Commenting on this development, Mr. O K Kaul, General Manager, Marketing, Corporate Communications & WMS of Bank of Baroda said, “We are delighted to extend our association with Goldmine as our social media partner. Thanks to their strategic insights, digital expertise, in-depth knowledge of the category, our visibility online is very strong today. The campaigns they have created and executed have helped us establish a good digital footprint within the banking sector. Being a technologically strong Bank, we particularly appreciate that Forward has deployed QuickMetrix, a strong social analytics and management software that supports all digital activities with relevant data.”

To this, Aastha Singla Co-founder, Forward, Goldmine said, “Servicing Bank of Baroda has always been a learning experience for us. Given the current dynamics, the next three years seem crucial especially with the three way amalgamation of Bank of Baroda, Vijaya Bank and Dena Bank, making it a financial powerhouse. With a positive outlook, we look forward to the challenges and opportunities that come in the near future.”

From the onset, Forward deployed QuickMetrix (India’s leading Social Media Listening and ORM software) for a strong technology platform to manage the Bank’s online presence across social platforms.  QuickMetrix is integrated with the Bank’s internal systems to build a seamless experience for its customers’ service requests originating from social media.

Pleased with this extension, Surendra S. Baliga, Co-founder, QuickMetrix said, “It is a matter of great pride for us that Bank of Baroda has deployed QuickMetrix since 2016 and has chosen to do so for the next three years. We have learnt a lot from Bank of Baroda and QuickMetrix will continue to evolve to serve India’s second largest Public Sector Bank.”

Magnet360, Mindtree’s Salesforce Practice, Named a Leader in Professional Services for Salesforce Sales and Service Cloud by ISG

Magnet360, the Mindtree Salesforce practice, has been named a leader in Professional Services for Salesforce Sales and Service Cloud in the U.S. ISG Provider Lens for the Salesforce Ecosystem. This recognition is attributed to our sustained investment in Salesforce solutions as well as our ability to apply Salesforce expertise across a range of industries.

The ISG Provider Lens report on the Salesforce Ecosystem examines service providers that offer capabilities covering the system integration aspects of a project for Salesforce customers. This report is focused on companies using the Salesforce Sales and Service Clouds.

“The complexity of large enterprise technology landscapes, including legacy systems, creates challenges for businesses to get the most value from their investment in Salesforce Clouds,”.,” said Matt Meents, CEO of Magnet360. “This recognition from ISG reflects the investments we’ve made over many years to help our clients tap into the full potential of the Salesforce Platform to transform their businesses.”

The ISG report cites Magnet360’s strengths in the following areas:

·         Industry solutions and accelerators: Magnet360 has several industry solutions, including offerings for consumer-packaged goods and retail, manufacturing (including IoT aspects), financial services (where it has a focus on insurance and partners with Duck Creek) and the Patient Engage solution for healthcare. Connected Manufacturing from Magnet360 provides a powerful solution for Service Cloud that extensively uses IoT elements.

·         Methodology: Magnet360 brings a well-developed methodology to project engagements and includes a variety of accelerators to support specific project activities. These include Code Analyzer, Org Optimizer, Risk Base Testing and others. Magnet360 applies a strong focus on the initial project phases, where it applies its Fast Forward methodology for strategy development and roadmap planning.
·         Attention to data quality: Magnet360’s project methodology is laser-focused on data management, including measuring data quality as part of the business performance assessment.
·         Customer commitment: Magnet360 has a growing global customer base and has won multiple Salesforce Partner Innovation Awards for its work with customers.

“Salesforce customers are looking for partners who can support multi-cloud implementations which require a well-developed procurement model to be successful,” said Jan Erik Aase, a director and principal analyst at ISG. “With their Magnet360 practice, Mindtree is able to marry 15 years of Salesforce expertise with the ability to cover integrations with other technology packages and positions them as a leading partner in the complex Salesforce ecosystem.”

The ISG Provider Lens Quadrant report series provides valuable insights on service provider capabilities based on ISG’s unique methodology, which blends empirical, data-driven research and market analysis with the real-world working experiences and observations of ISG’s global advisory team.

Renaissance Strī for Women by Bangalore Watch Company

Bangalore Watch Company, an independent boutique watch brand from India, after a lot of success with their debut collection of gentleman’s timepieces, has introduced ‘Renaissance Strī’, an extension of their debut, the Renaissance Automatic line in a women-friendly aesthetic.

The Renaissance Strī consists of a total of five categories — three of them in rose gold plated stainless steel and two in stainless steel. The watches are available in dial colours — Opaline, Anthracite and a unique Emerald.

The watches of the Renaissance Strī collection are made with surgical-grade steel, scratch-resistant Sapphire crystals, a slim case design adorned with 72 Swarovski crystals, powered by Swiss quartz movements with genuine leather straps and presented in beautiful lacquer finished wooden boxes. The price range of the collection is between INR 28,000 and INR 32,000.

Speaking about their newest watch collection for women, Founder and Creative Director of  Bangalore Watch Company  Nirupesh Joshi says, “Often, we have been asked to introduce an exclusive collection for women. This strong demand lead to the launch of Renaissance Strī, a vintage-inspired classic watch for women.”

The Renaissance Strī collection is now open for orders for the watch lovers. Renaissance Strī collection available at https://www.bangalorewatchco.in/order-renaissance-stri