o9 Solutions Doubles Its Annual Revenue Bookings During 2020

 o9 Solutions Inc., a leading provider of Integrated Business Planning platforms for the digital transformation of enterprise-wide planning and decision-making capabilities, announced significant bookings growth during 2020 today.

o9 more than doubled its annual recurring revenue bookings in 2020, demonstrating strong market demand for its platform. The company reported an 83 percent increase in employees in 2020, bringing its total headcount to 830. The company also continued to maintain a robust cash position underscoring its efficient and scaled growth trajectory.

Clients across various industry segments, including Consumer Packaged Goods (CPG), Manufacturing and Retail, are turning to o9’s intelligent, AI-enabled platform to unlock significant business value through superior visibility, predictive and prescriptive insights, and cross-functional collaboration.

“Our continued growth is a true testament to market opportunity. Business leaders are realizing the tremendous value creation potential of using o9’s platform, as the ‘digital brain’ of their enterprise,” said Chakri Gottemukkala, CEO of o9. “The pandemic has exposed the need for real-time, market-driven, and integrated planning across the enterprise. The power, flexibility, and ease-of-use of o9’s platform is driving its rapid adoption and growth, and we see these trends continuing to play out at scale.”

o9 added bookings across all its core industry verticals of CPG, Manufacturing and Retail with notable growth in the Food & Beverage and Fashion & Apparel sub-segments. The company also delivered a record number of global deployments to its clients during 2020 by leveraging its industry specific reference models and realizing rapid time to value across complex planning workflows including demand, supply and S&OP planning.

“We are seeing strong demand indicators heading into 2021 and beyond, and intend to aggressively invest into global growth particularly in China, Latin America and South-East Asia”, said Igor Rikalo, President & COO commenting on o9’s outlook. “o9 has the most advanced cloud-native platform for all planning capabilities, as evidenced by its adoption by leading Fortune 100 companies. We have significantly scaled our capabilities across sales, marketing, and delivery to support our pipeline and expected growth, and are well-positioned to capture the opportunity ahead of us.”

During 2020, o9 achieved several significant milestones including:

*  Raising its first-ever external strategic investment from KKR at ‘unicorn’ valuation.

*  Expanding its partnership with Deloitte with the announcement of a formal alliance to deliver end-to-end integrated planning and operations capabilities to customers across the world.

*  Announcing technology ecosystem partnerships with High Radius for trade promotion planning and settlement, Operaize for manufacturing scheduling and sequencing, project44 for supply chain visibility, FourKites for freight tracking visibility, and Gurobi for state-of-the-art mathematical optimization software

*  Adding vTradex and Samsung SDS as regional partners to accelerate go-to-market activities in China and South Korea, respectively

*  Provided both technical and business process implementation certifications to thousands of consultants and experts at all the major system integrators, consulting firms and geographical regions

*  Significantly expanded the AIM 10x Executive Council with former C-level executives experienced in significant digital transformation across CPG, Retail and Manufacturing industries

*  Named as Fastest Growing Private Company in America in Inc. 5000 and Deloitte’s Technology Fast 500 lists for the second consecutive year

Indigo Paints Ltd IPO Open From January 20, 2021 With Price Band Of Rs. 1,488-1,490 Per Equity Share

* Price Band of Rs. 1,488 – Rs. 1,490 per equity share of face value of Rs. 10 each (“Equity Share”) A discount of Rs. 148 per Equity Share is being offered to Eligible Employees bidding in the Employee Reservation Portion

* Bid/Offer Opening Date – Wednesday, January 20, 2021 and Bid/Offer Closing Date – Friday, January 22, 2021

* Minimum Bid Lot is 10 Equity Shares and in multiples of 10 Equity Shares thereafter

* The Floor Price is 148.8 times the Face Value of the Equity Shares and the Cap Price is 149.0 times the Face Value of the Equity Shares.

Pune based, Indigo Paints Limited (the “Company”), one of the fastest growing amongst the top five paint companies in India and fifth largest company in the Indian decorative paint industry in India in terms of its revenue from operations for FY20 (Source: F&S Report), will open the Bid/Offer period in relation to its initial public offering of Equity Shares (the “Offer”/ “IPO”) on Wednesday, January 20, 2021. The Bid/Offer period will close on Friday, January 22, 2021. The price band of the Offer has been fixed at Rs. 1,488 – Rs. 1,490 per Equity Share. The Company may, in consultation with the Book Running Lead Managers (the “BRLMs”), consider participation by Anchor Investors which shall be one Working Day prior to the Bid/Offer Opening Date.

The IPO comprises a fresh issuance of Equity Shares aggregating to Rs. 3,000 million by the Company (“Fresh Issue”) and an offer for sale of up to 5,840,000 Equity Shares by Sequoia Capital India Investments IV and SCI Investments V (the “Investor Selling Shareholders”), and the promoter selling shareholder, Hemant Jalan (the “Promoter Selling Shareholder” and together with the Investor Selling Shareholders, the “Selling Shareholders” and such offering of Equity Shares by the Selling Shareholders, the “Offer for Sale”). The Offer includes a reservation of up to 70,000 Equity Shares for subscription by Eligible Employees of the Company (the “Employee Reservation Portion”).  The Company and the Selling Shareholders in consultation with the BRLMs, are offering a discount of Rs. 148 per Equity Shareto the Offer Price to Eligible Employees bidding in the Employee Reservation Portion.

The Offer less the Employee Reservation Portion is referred to as the “Net Offer”. The Offer is being made through book building process in accordance with Rule 19(2)(b) of the Securities Contracts (Regulation) Rules, 1957 and Regulation 31 of the Securities and Exchange Board of India (Issue of Capital and Disclosure Requirements) Regulations, 2018, as amended (the “SEBI ICDR Regulations”) and in compliance with Regulation 6(1) of the SEBI ICDR Regulations, wherein not more than 50% of the Net Offer shall be allocated on a proportionate basis to Qualified Institutional Buyers (“QIBs”, the “QIB Portion”), provided that the Company may, in consultation with the BRLMs, 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 Anchor Investor Allocation Price. In the event of under-subscription, or non-allocation in the Anchor Investor Portion, the balance Equity Shares shall be added to the Net QIB Portion. Further, 5% of the Net QIB Portion shall be available for allocation on a proportionate basis only to Mutual Funds, and the remainder of the Net QIB Portion shall be available for allocation on a proportionate basis to all QIBs, including Mutual Funds, subject to valid Bids being received at or above the Offer Price. 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 Net QIB Portion for proportionate allocation to QIBs.

Further, not less than 15% of the Net Offer shall be available for allocation on a proportionate basis to Non-Institutional Bidders and not less than 35% of the Net Offer shall be available for allocation to Retail Individual Bidders in accordance with the SEBI ICDR Regulations, subject to valid Bids being received 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 received from them at or above the Offer Price. All potential Bidders (except Anchor Investors) are required to mandatorily utilise the Application Supported by Blocked Amount (“ASBA”) process providing details of their respective ASBA accounts, and UPI ID in case of RIBs using the UPI Mechanism, if applicable, in which the corresponding Bid Amounts will be blocked by the SCSBs or by the Sponsor Bank under the UPI Mechanism, as the case may be, to the extent of respective Bid Amounts. Anchor Investors are not permitted to participate in the Offer through the ASBA process.

The Company proposes to utilise the Net Proceeds as follows (i) INR 1,500 mn towards funding capital expenditure for expansion of its existing manufacturing facility at Pudukkottai, Tamil Nadu by setting-up an additional unit adjacent to the existing facility; (ii) INR 500 mn towards purchase of tinting machines and gyroshakers; (ii) INR 250 mn towards repayment/prepayment of all or certain of Company’s borrowings; and (iv) balance towards general corporate purposes.

The Equity Shares offered in this Offer are proposed to be listed at both BSE Limited (“BSE”) and National Stock Exchange of India Limited (“NSE”, together with BSE, the “Stock Exchanges”) post the listing. For the purpose of the Offer, BSE is the Designated Stock Exchange.

Kotak Mahindra Capital Company Limited, Edelweiss Financial Services Limited and ICICI Securities Limited are the BRLMs to the Offer.

All capitalized terms used herein and not specifically defined shall have the same meaning as ascribed to them in the Red Herring Prospectus dated January 11, 2021 (“RHP”)./.

Tata Motors Commences Production Of New Safari From Its Pune Plant

*  Rolls out the first Safari from the Pune plant

• Reveals the first official look of the new Safari

• Launches AR suite Imaginator for a holistic virtual experience

Tata Motors, India’s leading automotive brand, today formally unveiled the new avatar of the iconic Tata Safari, which is a potent combination of power and elegant sophistication. In a flag-off ceremony held today, the first Safari in its full glory rolled out of the line from the plant in Pune. While the Safari makes its way to the showrooms, leveraging the power of digital, Tata Motors has also launched the Tata Safari Imaginator suite, power packed with interactive features using Augmented Reality (AR), for customers to explore the Safari virtually at their preferred location including their living room!  

The award winning Impact 2.0 design language of the new Safari readily tells its all-purpose nature. The Safari’s unique and domineering stance has been enhanced in the new avatar and key areas like the elegant grille, the unmistakable stepped roof and the imposing tailgate have been given ultra - premium finishes. Sculpted impeccably with an uncompromised strong stance, imposing wheel arches and a careful accenting of chrome gives the new Safari a jewel-like appearance. The interior of the Safari takes the premium element even higher, with the rich Oyster White interior theme, paired with Ash Wood dashboard. It is specially designed and developed for the socially active, fun loving customer group, who seek unique experiences and adventure.

Unveiling the first official look of the new Tata Safari, Mr. Guenter Butschek, CEO & MD, Tata Motors said, “The Safari is our flagship offering to connect the aspirations of the discerning and evolved Indian customer. It had introduced India to the SUV lifestyle and in its new avatar, will carry forward this rich idea to build further its legacy. The new Tata Safari is ideal for families and groups with a multifaceted lifestyle, who prefer to drive together for work or leisure, as it offers an unmatchable combo of an exceptionally strong lineage, robust build quality, premium finishes and the 4Ps of Power, Performance, Presence and Prestige to ‘Reclaim Your Life’. We look forward to making the Safari rule the Indian roads once again.”

The new Safari has evolved to satisfy the new age SUV customers, who demand arresting design, unparalleled versatility, plush and comfortable interiors, outstanding performance for a modern, multifaceted lifestyle. Customers can now get close with the new Safari by remotely accessing the Tata Safari Imaginator suite.  Simply by using their handsets, they can take a walk around the new Safari or choose to step inside it for a fully immersive experience, in their preferred environment for a real-life like feel. Click here (https://cars.tatamotors.com/suv/safari/ar) to experience the new Tata Safari!

The new Safari proportions are imposing, accentuated by wide, large wheels, with tremendous road presence and powered with a graceful agility. The smart and expressive surface treatment brings in a surreal dynamism, making the Safari seem like it is moving even while standing still. The iconic stepped roof, held between the equally well regarded roof-rails have been re-imagined making them immensely stylish and yet functional.  

The interiors of the new Safari too have been crafted with exquisite deft to convey a classy, comfortable feel via diligently curated choice of features, superior ‘In-touch’ interfaces and the intriguing addition of superlative details. All materials used convey the touch, feel and colour of luxury anchored in authenticity, giving the SUV its deserving plush feel. The new Safari carry forwards the legend’s much lauded for aspect of space and cossetting occupants with high driving and sitting positions that make them always feel in command. With purposeful aesthetics, the surface language of the new Safari continues to remain clean, uncluttered and benefits from the addition of a unique design element - the signature Tri-arrow motifs.  

The new Safari further builds on the legacy of prestige and outstanding performance by combining Tata Motors’ Impact 2.0 design language with the proven capability of OMEGARC, an architecture derived from the renowned D8 platform from Land Rover, which in itself is the gold standard of SUVs worldwide. This adaptive architecture allows for further drive train enhancements including all-wheel drive and possibilities of electrification in future.

Tata Motors will open bookings of the Safari soon.

Jaguar Land Rover Adds New Retailer Partner In Brookfield, Bengaluru

* Jaguar Land Rover India has appointed Shakti Auto Cars as its new Retailer Partner

* New state-of-the-art 3S (Sales, Service and Spare parts) Retailer facility in prime Brookfield area of Bengaluru is spread over a total area of over 4 180 m2 with an expansive showroom display and a fully equipped service workshop

* This additional JLR facility in Bangalore would provide enhanced access to customers    

* Jaguar Land Rover India distribution network is spread across 28 outlets in 24 major cities across India

Jaguar Land Rover India today announced the appointment of Shakti Auto Cars as its new Retailer Partner in Bengaluru, with Venkatesh Tatuskar as its Director. The new, state-of-the-art 3S facility is located in the upscale Brookfield area of Bengaluru, close to the major IT hub of Whitefield area.

This Retailer facility is spread over 4 180 m2 and is designed to provide the highest quality of sales and after-sales experience for its customers. With a 10 cars display, a wide range of Jaguar and Land Rover vehicles can be showcased to discerning customers. An impressive handover bay for delivering vehicles at the showroom allows for a more personalized customer experience. The facility also has an Approved pre-owned car area to cater to the needs of pre-owned customers, while also showcasing a wide range of Jaguar Land Rover branded accessories and merchandise. An integrated service workshop, equipped with 18 service bays with state-of-the-art equipment is manned by a team of highly trained staff to delight customers with an exceptional ownership experience. 

Rohit Suri, President & Managing Director, Jaguar Land Rover India Ltd (JLRIL), said: “We are delighted to announce that we have partnered with Shakti Auto Cars to service our customers in Bengaluru. With its ultra-modern sales facility, housing sales, service and spares, it provides our customers with an enhanced access and convenience, along with a world class experience of owning a Jaguar Land Rover product in this region.”

Customers can even book their cars by visiting the online booking platform at www.findmeacar.in for Jaguar and www.findmeasuv.in for Land Rover.

For more information on Jaguar and Land Rover product range in India, please visit www.jaguar.in and www.landrover.in

Jaguar Product Portfolio in India

The Jaguar range in India includes XE (starting at ₹ 46.64 Lakh), XF (priced at ₹ 55.67 Lakh), F-PACE (priced at ₹ 66.07 Lakh) and F-TYPE (starting at ₹ 95.12 Lakh). All prices mentioned are ex-showroom prices in India.

Land Rover Product Portfolio in India

The Land Rover range in India includes the Range Rover Evoque (starting at ₹ 59.73 Lakh),  Discovery Sport (starting at ₹ 60.99 Lakh), Range Rover Velar (priced at ₹ 75.28 Lakh),  Discovery (starting at ₹ 75.60 Lakh), New Defender (starting at ₹ 73.98 Lakh) Range Rover Sport (starting at ₹ 89.13 Lakh) and Range Rover (starting at ₹ 201.93 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 in 24 cities, through 28 authorized outlets in Ahmedabad, Aurangabad, Bengaluru (3), Bhubaneswar, Chandigarh, Chennai, Coimbatore, Delhi (2), Gurgaon, Hyderabad, Indore, Jaipur, Kolkata, Kochi, Karnal, Lucknow, Ludhiana, Mangalore, Mumbai (2), Noida, Pune, Raipur, Surat and Vijayawada.

WFH Culture And Demand For Bigger Homes Drive Popular Trend In Bengaluru - Reveals Magicbricks PropIndex Report Q4

* Real estate market in Bengaluru showed QoQ growth in Q4

* Demand for 3bhks triggered post the lockdown

Post witnessing stunted growth ascribed to a stressed environment due to COVID induced lockdown, the real estate market in Bengaluru is gradually returning to pre-COVID levels primarily driven by growth in demand for bigger homes due to the rise in Work-From-Home (WFH) culture, shows Magicbricks PropIndex report Q4.

As a result of the “Work from Home” culture, consumers were increasingly looking for additional space which resulted in increased demand for 3BHK configuration. The demand has increased from 45% in Q3 2020 to 52% in Q4 2020. The propensity of demand was concentrated mostly in North and South Bengaluru localities such as Whitefield, Sarjapur Road, and Bellary Road which ranked continuously high in terms of searches.

According to PropIndex, in Q4 2020, Bengaluru's residential market continued to show 3.2% QoQ growth in demand, represented by property searches. Supply has also improved by 10.4% QoQ with launch of new projects and improved listings in the secondary market.

It is interesting to note that after price decline in the previous two quarters, due to the festive discount by builders, waiver on stamp duty, and deferred payment plans, under-construction (UC) properties finally showed a marginal 0.4% growth in Q4 2020, while Ready-to-move (RTM) properties in recorded price decline of 0.7% QoQ. According to Magicbricks data, price decline was witnessed in most areas such as Horamavu, Anjanapura, Ramamurthy Nagar, and Attibele within a <INR 5000 per sqft range, suggesting a decline for properties in peripheral areas with less social amenities.

Commenting on the PropIndex report, Sudhir Pai, CEO, Magicbricks, said, “With uncertainties around the economy and jobs now stabilising, we are witnessing signs of growth in the real estate sector as well.  The economy has also stopped shrinking since October 2020 and now we are seeing a V-shaped recovery in the real estate sector. There are predictions of net positive GDP growth for the ‘Oct-Dec 2020’ quarter at 0.1% and rebound growth at 10% for FY 2021-22, making it surpass pre-COVID levels. With impetus from the government in the form of stamp duty cuts in some states and first-home buyer incentives, buyer demand is expected to stay at elevated levels in 2021.”

It was also noteworthy that more consumers were preferring to shift in costlier segments. The search trends of Q4 2020 in Bengaluru has shown an increased preference for properties in the higher price range. The demand for greater than INR7,000 per sqft held a market share of 32% in Q4 2020 as against 27% in Q3 2020.

About Magicbricks: India's no 1 property site

Magicbricks is India’s No.1 property site. With monthly traffic exceeding 20 million visits and with an active base of over 1.4 million+ property listings, Magicbricks provides the largest platform for buyers and sellers of property to connect with each other in a clear, transparent manner. With this in mind, Magicbricks has innovated several product features, content, and research services, which have helped us build the largest audience pool.

Challenges: Do I Need To Repeat The Mistake My Senior Friend Made?

By Awkash Agrawal, Engineering Leader - Product and Platform Engineering, Altimetrik 

Journey of a new bee in corporate

Too many questions but answers were elusive, thus I came up with the strategy of Curiosity, Calibre and Courage. Here order is important and so is the role of mentor or senior friend. Let’s turn towards the organization setting now where a fresher joins a team, he was given a red carpet treatment and welcomed in the team with zeal. Second day in office he was given a software production problem to solve. This guy doesn't know what to do and where to start. He will be fearful about production for his life now. Second scenario, a senior friend of his is assigned this production problem and this guy sitting next to him, just curiously watching all the Greps, Traceroutes and Splunk queries senior friend is firing. He ended his day with his eyes opened but still curious in his mind that one day he will also do this on his own. That is where Curiosity comes into play where you generate enough that person feels intrigue.

After 3 weeks in the system this senior friend turns the table and asks this sophomore (borrowed term) to solve the production problem for himself. This new guy again finds himself in no man's land. Oh my god I have just seen the queries being run and that too at lightning pace, how can I deal with such a big ask from me. The initial approach of this senior friend is flawed because he has not allowed this junior to harden his capabilities and give shock therapy to gauge his calibre. Better be is to have a junior being delegated some queries to run from the second day of his job and let him/her strengthen his capability.

After 6 weeks in the system one fine day this senior friend made a call to this graduate (Borrowed term) saying he is not well today, can you look at this ticket number assigned to me. Oh gosh, another blooper, this guy again caught on the wrong foot. Where to look for the ticket to contact this details, do I have enough info about the ecosystem because till now he was doing all this for me. One more time senior friend has not played his role to a satisfactory level. Better be he should be making his junior courageous in front of him and not on the day when he was not available. He/she should have asked this guy to handle the production tickets from 5th week itself so that he is having enough info and courage under his belt to make an informed decision.

Conclusion

In conclusion keep things in check with balancing 3 Cs to ensure a frictionless pull the plug journey. Too early you will have possible chances of breaking the individual, too late will put one's learning ability and risk taking capability at stake. In the end change should be continuous and not shock therapy based.

Wipro Dec’20 Quarter Results – Strong Broad Based Growth Performance; Margin Surprises Positively

 

Result Summary

·         Wipro reported revenues of US$ 2.1bn, up 3.9%/-1.1% QoQ/YoY (CC 3.4%/-2% QoQ/YoY), in line with our expectations of $ 2.05bn. (TCS Q3FY21 revenues was US$ 5.7bn, 4.1% CC QoQ).

·         Overall EBITM expanded 280bps QoQ at 21.6% and came ahead of our expectations. (TCS Adj. EBITM expanded 40bps QoQ to 26.6%).

·         IT Services EBITM expanded 243bps QoQ on back of revenue acceleration, offshoring (52.7% of revenue vs 50.4% QoQ), and operating efficiencies.

·         Adj. Profits at Rs29.7bn (+20.3% QoQ, 21% YoY), 15% ahead of our expectations.

·         The company announced an interim dividend of Rs1 per share.

·         Company guided Q4 growth to be in the range of 1.5% - 3.5% QoQ to $2,102mn to $2,143mn

·         It signed 12 deals with TCV >US$30mn during Q3 with combined TCV of US$1.2bn

Growth by Verticals (all in constant currency terms)

·         Financial Services:  -2.5%YoY ( V/s -3.3% YoY in Sep’20 quarter)

·         Manufacturing: -2.4%YoY ( V/s -1.5% YoY in Sep’20 quarter)

·         Healthcare: 3.7%YoY( V/s 2.3% YoY in Sep’20 quarter)

·         Communications: -11.4%YoY ( V/s -10.3% YoY in Sep’20 quarter)

·         Energy: -2.6% YoY ( V/s -5.4% YoY in Sep’20 quarter)

·         Consumer Business Unit: -3.6% YoY ( V/s -2.1% YoY in Sep’20 quarter)

·         Technology: 0.6% YoY ( V/s -7.1% YoY in Sep’20 quarter)

Growth by Geographies (all in constant currency terms)

·         US: -3.2% YoY ( V/s -4% YoY in Sep’20 quarter)

·         Europe: 1.4% YoY( V/s -5.7% YoY in Sep’20 quarter)

·         ROW : -2.5% YoY( V/s 2% YoY in Sep’20 quarter)

Manpower details

Total Headcount: 190,308, up  5,065 QoQ

LTM Attrition: 11%, V/s 11% in Sep’20 quarter and 13% in Jun’20 quarter..