Shyam Metalics & Energy Limited Public Offering Of Equity Shares Opening From June 14-16, 2021

* Price Band of Rs. 303 – Rs. 306 per equity share of face value of Rs. 10 each (“Equity Share”)

* Bid/Offer Opening Date – Monday, June 14, 2021 and Bid/Offer Closing Date – Wednesday, June 16, 2021

* Minimum Bid Lot is 45 Equity Shares and in multiples of 45 Equity Shares thereafter

* The Floor Price is 30.3 times the face value of the Equity Shares and the Cap Price is 30.6 times the face value of the Equity Shares.

Shyam Metalics and Energy Limited (“SMEL”, including its subsidiaries and associates, the “Group”) is proposing to open the Bid/Offer period in relation to its initial public offering of Equity Shares (the “Offer”/ “IPO”) on Monday, June 14 2021 and close the Bid/Offer period on Wednesday, June 16, 2021. The price band for the Offer has been decided at Rs. 303 – Rs. 306 per Equity Share. The Company and the Selling Shareholders have, in consultation with the book running lead managers (the “BRLMs”), considered participation by Anchor Investors, which participation shall be one Working Day prior to the Bid/Offer Opening Date, i.e. Friday, June 11, 2021.

The total issue size is upto Rs. 909 crore with a fresh issuance of Equity Shares, aggregating up to Rs. 657 Cr and an offer for sale of Equity Shares aggregating up to Rs. 252 cr, by the Selling Shareholders. The company proposes to utilise the Net Proceeds from the Fresh Issue towards repayment or prepayment of up to Rs 470 crs of its debt and that of its subsidiary, Shyam SEL and Power Limited and for other general corporate purposes.

The Group is a producer of intermediate and long steel products, such as, iron pellets, sponge iron, steel billets, TMT, structural products, wire rods, and ferro alloys products with a specific focus on high margin products, such as, customised billets and specialised ferro alloys for special steel applications. The Group is currently in the process of further diversifying its product portfolio by entering into the segments, such as, pig iron, ductile iron pipes and aluminium foil. The Group’s key strength lies in its integrated operations across the steel value chain and strategic locations of its manufacturing plants in Odisha and West Bengal which are well connected by railways, roadways and ports in the eastern region of India and are supported by infrastructure in terms of captive railway sidings and captive power plants.

The Group’s manufacturing plants at Sambalpur and Jamuria are forward and backward integrated, and the Group is present across steel value chain, offers a diversified product mix, and has strategic locational advantage. In the nine months ended December 31, 2020, power units produced from the Group’s captive power plants accounted for 79.58% of their total power units consumed. The Group has a wide distribution network partnered through 42 distributors across 13 states and one union territory in India, as of December 31, 2020. The Group’s domestic customers include Jindal Stainless Limited, Jindal Stainless (Hisar) Limited, and Rimjhim Ispat Limited and international customers include Norecom DMCC, Norecom Limited, POSCO International Corporation, World Metals & Alloys (FZC), Traxys North America LLC, JM Global Resources Limited, Goenka Steels Private Limited and Vijayshri Steel Private Limited.

ICICI Securities Limited, JM Financial Limited, Axis Capital Limited, IIFL Securities Limited and SBI Capital Markets Limited are the BRLMS to the Offer.

The Offer is being made in terms of Rule 19(2)(b) of the Securities Contracts (Regulation) Rules, 1957, as amended (“SCRR”), read with Regulation 31 of the SEBI ICDR Regulations. The Offer is being made in accordance with Regulation 6(1) of the SEBI ICDR Regulations, through the Book Building Process wherein not less than 15% of the Offer shall be available for allocation on a proportionate basis to Non-Institutional Bidders and not less than 35% of the Offer shall be available for allocation to Retail Individual Bidders in accordance with the SEBI ICDR Regulations subject to valid Bids being received from them at or above the Offer Price. The portion of the Offer being up to 300,000 Equity Shares, which shall not exceed 5% of the post Offer Equity Share capital of our company, is available for allocation to Eligible Employees, on a proportionate basis.

Muscle And Strength India Comes Forward To Help The Needy During The Covid 19 Pandemic

The COVID-19 crisis has brought out the best and the worst in humanity. Amid the second wave that brings with it a flood of stories of despair, few humanitarians are churning out a counter-narrative of hope, unity and resilience. These people have risen to the occasion, and ensured no one on the road goes hungry or unmasked and are making a difference. In its effort to support the cause, Muscle and Strength India, one of the country’s leading retailers of fitness supplements & nutritional products have come forward to help the needy in these testing times. The company has helped under-privileged people by distributing free food, dry rations, other essentials, and also N95 masks etc. They have also distributed masks & immunity booster tablets to delivery boys for their health & safety.

As the city battles the second wave of the Covid-19 pandemic, many organizations, volunteer groups, NGO’s etc have sprung into action in offering support to those infected and also homeless people, daily wage labourers, domestic workers, roadside dwellers and low-income workers, thus keeping the spirit of humanity alive with their effort.

“Corona pandemic is turning life upside down for many. With the rise in the number of Covid-19 cases, many states imposed lockdowns. While many of us are working from home, spending quality time with our family, at the comfort of our homes during this lockdown, there are many people who aren’t as fortunate. There are scores of unorganised workers & poor people who depend on daily-based work to meet their basic needs and hence a lockdown meant an immediate pause in their current livelihood. Hence we feel that everybody has to come together to provide a helping hand to the needy in these distressing times of the pandemic.” said Mr. Praveen Chirania, Founder, Muscle and Strength India, who has been distributing the relief materials to the needy personally.

"The same set of people, whom we served earlier were waiting for us with hopeful eyes. We felt so proud and content. By serving food, we not only satiate their hunger but also give them confidence to live. Even as we are all being tested in ways we could never have imagined, there are ways in which we can help out. It may not be a big gesture, but a small act of kindness can brighten up someone’s day, and create a sense of community, support and hope. Going forward, we at Muscle and Strength India will continue to support our initiative and hope to help many more people,” added Praveen.

Muscle and Strength India offers a comprehensive range of genuine high-quality fitness supplement and nutritional products across categories such as proteins, vitamins, minerals and herbal supplements etc manufactured by international fitness brands under a single roof. Muscle and Strength India, which currently has 15 stores spread across multiple cities has the widest range with over 1000 fitness supplements and nutrition products from 42+ brands. The sole aim of the company is to make health and wellness a priority for all.

discovery+ Strengthens Its Line-Up Of Factual Storytelling With A Documentary- Bhuj: The Day India Shook; Presented By Anupam Kher

* Premiering on June 11, the premium documentary captures first-person accounts of survivors, rescuers, journalists, photographers, and top earth scientists shining light upon stories of resilience and the science behind it 

Amidst trying times, perhaps the only thing that keeps one going is looking up to brave heroes from around the world and gaining strength from their stories of resilience and courage. discovery+, country’s first and leading aggregated real-life entertainment streaming app releases trailer of ‘Bhuj: The Day India Shook’ today, uncovering one of the most damaging earthquakes that hit India, back in 2001. Premiering on 11th June, this special premium documentary emphasises on a story of bravery, heroism, miracle rescuers, misfortune, tragedy, and hope.

The incident is uncovered through exceptional storytelling skills of veteran Indian actor, mentor, and author Anupam Kher. It documents the survivors of the quake, gathers eyewitness accounts and first-hand footage of the event. 20 years later, the premium documentary re-traces the steps of this destructive disaster that not only changed how one looks at earthquakes in India, but also urban planning, medical revolution, and the eventual formation of a national disaster relief force in its aftermath. While it documents the unforgettable incident in detail, it also shines light upon stories of resilience and the science behind it, making the film heart-warming yet insightful.

The film utilises key archival footage like videos, photographs, newspaper headlines along with Satellite images of Gujarat to demonstrate the mishap and the fallout. They all meet up in a consistent account to narrate the story of brave hearts who survived and lost their loved ones. This special premium documentary unfolds the human emotions, details behind the accident and expert opinions breaking down the possible causes of the disaster. Chief Fire Officer, Rajesh Bhatt (Ahmedabad Fire & Emergency Services), Jim Livingstone, Team Medic (International Rescue Corp), Sumer Chopra, Director at Institute of Seismological Research, Gujarat, Kushala Rajendran, Geologist (Professor (Retd), Centre for Earth Sciences, Bangalore), among other experts along with survivors form the core of the story to encapsulate the specifics of the disaster.

On anchoring the show, multitalented personality Anupam Kher said, “Every little aspect of the incident gave me goosebumps, I can only imagine the kind of impact it might have had on the individuals who experienced it first-hand. Narrating this premium documentary was an emotional journey for me and my heart goes out to every individual, every survivor, every family that was impacted by this unforeseen disaster. It also fills me with pride being the face of this special documentary and take this story to every corner of this country because I truly believe, the strength of such heroes must be celebrated”.

Sai Abishek, Director, Original Content- South Asia, Discovery Inc said, “With every show launch, we at Discovery focus at exploring content that will have a lasting impact on the audience, and Bhuj: The Day India Shook is one such premium documentary that blends factual storytelling with authentic research, first-hand accounts with the dramatic reconstructions of survivors, combined with the storytelling of Mr Kher. We believe it will delight core discovery fans and also draw in the ones seeking to watch a story of human drama and survival.”

About discovery+

‘discovery+’ is an exciting new D2C streaming app, launched to satiate the unmet need of a differentiated product offering premium real-life entertainment. Priced competitively with an introductory offer of INR 299 per annum, the app has been developed and curated specifically for India. discovery+ offers thousands of hours of exclusive content across 55+ genres, including Science, Adventure, Food and Lifestyle, in 7 languages including Hindi, English, Tamil, Telugu, Malayalam, Kannada and Bengali. The premium subscribers have access to a vast selection of never-seen-before Premium Discovery titles, must-watch documentaries, India originals and exclusive acquisitions. Free users of the app have access to all-time favourites from the Discovery library.

upGrad Plans Big For Q2; Aims To Hire Over 1000 Employees To Address The Growing Demand

* In the Covid-induced job market, upGrad aims to carry out mass recruitment from 100+ campus, including metros and Tier 2 & 3 cities, as well as recruit from its own learners’ pool, thus enabling Bharat to work

upGrad, South Asia’s largest higher edtech company, announces big hiring plans for the upcoming quarter as it aims to onboard over 1000 employees in the next 3 months, generating employment in a COVID-impacted job market. The opportunities are available across departments like Learning Experience, Delivery, Marketing, and Program, along with Sales which will remain predominant. The edtech leader will be hiring from its own learners’ talent pool through upGrad Rekrut  (the recruitment and staffing solutions firm is a 100% subsidiary of upGrad) hiring drive.

The fresh Sales recruits will be working out of the specially created ‘Temporary Safe Workplace Bubbles’ across 5-star hotel properties in Mumbai and Bangalore, and the brand is further extending to include cities like Hyderabad, Delhi, and Kolkata.

This move comes at a time where over 15 Million jobs were lost in the country just in May, this year due to the second wave of the pandemic, which has led the urban joblessness to hit 18% in the week ending May 30th - the highest in the past one year, as per the data from the Centre for Monitoring Indian Economy[1] (CMIE)

While the upGrad Rekrut hiring drive will include upGrad learners from multiple courses, the edtech leader will also have fresh campus recruits from 100+ campuses across the country.

Arjun Mohan, CEO- India, upGrad said, “Our hiring plan is a result of the rapid growth that we have seen in the last 18 months. With global expansions taking shape, we are all set to ramp up our support & business teams to continue meeting the strong demand for LifeLongLearning that we are experiencing. Also, to develop the culture and belongingness to the upGrad family, we have created Temporary Safe Workplace Bubbles for our existing and future employees to provide them with a protected environment, especially for those who are staying away from home.”

The bubbles have also helped upGrad overcome the monotony of working from home for employees. “The idea to have fresh recruits come from tier II and III cities is to accelerate employability not just in metros but remotest corners of the country,” Mohan added.

Recently, the company also announced its ambition to close March 2022 at Half a Billion-Dollar Revenue Run Rate, and this hiring drive is expected to propel its growth in the right direction.

About upGrad:

upGrad is a global online higher education leader offering 100+ courses in collaboration with top-notch global universities like Duke Corporate Education (US), Michigan State University (US), Liverpool John Moores University (UK), Deakin Business School (Australia), Swiss School of Business Management, (Geneva), IIT Madras (India), IIM Kozhikode (India), and others. Founded in 2015, the edtech major has impacted over 1 million total registered learners over 50+ countries across the world.

upGrad has ranked No.1 in the LinkedIn Top Startups India 2020 list. This is the third time in a row that upGrad has been featured in the LinkedIn Top Startup list after 2018 and 2019. It is also amongst GSV Global EdTech 50 in 2020 and has ranked amongst the Top 50 in the FT Asia-Pacific High-Growth Companies 2021.

MaxiVision Eye Hospitals Launches “Mucormycosis" (Black Fungus) Early Detection Center

* Early detection and treatment of the fungal infection can save many lives averting it from turning into lethal – Dr. Kasu Prasad Reddy – Chief Surgeon

MaxiVision Eye Hospitals group, the pioneers in the industry of eye care medical services have launched “Mucormycosis (Black Fungus) Early Detection Center” at its Somajiguda Branch in Hyderabad to identify the virulent fungal infection in its initial stage preventing it from aggravating further and become fatal. Early detection and treatment of Mucormycosis (Black Fungus) can save many lives averting it from turning into lethal.

The Early Detection Centre has a team of doctors who examine the patient first to ascertain if it is Mucormycosis (Black Fungus). The team of doctors includes an Ophthalmologist, ENT specialist, and Microbiologist. If the examination by the team of doctors confirms the infection of Black Fungus, then the team will cross-examine the level and severity of the infection, etc. The infected patients will be referred to government hospitals where the treatment for Mucormycosis is available.

Speaking on the occasion Dr. Kasu Prasad Reddy, Chief Surgeon, Founder & Mentor, Co-Chairman, MaxiVision Eye Hospitals said Mucormycosis or Black Fungus is an aggressive fungal infection, acquired primarily via inhalation of fungal spores in immunity weak hosts or through direct entry during trauma. The Early Detection Center will provide comprehensive Eye Check-ups, Ocular and Orbit Diagnosis, ENT Consultations, Microbiologist Consultations, Biopsy Tests, Pathology Tests, and Radiology Support.

Some of the common symptoms of Mucormycosis are nasal discharge and stiffness, black discoloration of the nose, toothache, jaw pain, prolonged fever, headache, and facial edema (swelling). However, there are some other symptoms that relate to the eyes, like swelling and pain in and around the eyes, and a thick discharge from eyes.

Mucormycosis can severely affect the eyes of the patient and it is my earnest request that anyone who experiences discharge from the eyes should immediately contact an eye specialist and get their eye-check-up done. This is essential for those patients who have recently recovered from Covid-19”, he added.

Elaborating more on the same Dr. Anil Kumar Bathula – Medical Director, MaxiVision Eye Hospitals said, Some of the ways to prevent the Black Fungus would be to avoid repeated use of cloth masks without sterilization or wash, avoid consuming rotten vegetables & fruits, clean your air conditioners and cooler filters regularly, doing steam inhalation regularly, keeping your environment clean to avoid fungal growth in clothes, vegetables, furniture etc., good control of Blood Sugar levels, using antibiotics and antifungals judiciously,  using steroids and other medicines judiciously observing regular time and dose, etc. Post-Covid recovered patients are advised to have regular comprehensive eye check-ups done.

Patients can contact 9390110000 for more details.

State Bank of India Invests In Leading Digital Payments Firm Cashfree

Cashfree, India’s leading digital payments and banking technology company, today announced that India’s largest lender, State Bank of India (SBI) has made an investment in the organisation. The move reinforces their shared vision of promoting digital modes of payments. 

A leader in payments innovation, Cashfree provides a full-stack payments solutions platform enabling over 100,000 growing businesses in India and across the globe to accept and disburse payment online through a single integration.

Currently ranked among the leading payment service providers in India, Cashfree processes transactions worth USD 20 billion annually. Apart from India, Cashfree’s products are used in eight other countries including the USA, Canada and the UAE. 

“We are excited about our partnership with the country’s trusted and leading lender SBI. The investment from India’s largest bank shows its trust in Cashfree’s innovation and the way we are rapidly scaling up the payments business. This also underscores Cashfree’s role towards building a payments ecosystem that enables the fastest and easiest way to collect payments and make payouts for growing businesses. As we work towards digitising the economy, we remain committed to bringing uniformity, transparency and a reduced turnaround time to digital transactions among Indian businesses. The investment fits perfectly with our growth strategy as we continue to focus on customer experience and product innovation,” says Akash Sinha, Co-Founder & CEO, Cashfree.

Incubated by payments pioneer PayPal, Cashfree is backed by Apis Partners, Smilegate and Y Combinator. Cashfree is used by businesses like Zomato, Cred, Nykaa, Delhivery, Acko, Shell among others for various business payment needs like ecommerce payment collection, vendor payments, marketplace settlements etc. 

WealthDesk Launches Portfolio Optimiser In Partnership With OpenQ

* Enables retail investors to monitor and optimize investments in Stocks, ETFs and MFs

* Signs up Prabhudas Lilladher on its platform for the Optimiser

* Targets 1 million users through broking partners

WealthDesk, India’s pioneering B2B2C Investment Technology platform, that enables portfolio based investing on top of equities and ETFs consolidating research, advisory, broking, asset & wealth management ecosystem, has launched a comprehensive and detailed Portfolio Analytics and Optimization tool in partnership with OpenQ by Quantech Capital. Top brokers like Prabhudas Lilladher have signed up for the tool, while WealthDesk continues to on-board other leading brokers. 

The Portfolio Optimiser tool will help investors optimize the portfolio in a disciplined process oriented manner by analysing demat holdings, including stocks, ETFs and Mutual Funds by using more than 15,000 data points that cover the aspects of portfolio risk, returns to give rich insights in a simple and easy to understand manner.  

After analysing a user’s portfolio, the Optimiser tool will also recommend holding, monitoring and selling of stocks and ETFs while offering detailed Mutual Funds analytics including overlaps with existing direct Equities portfolio. Furthermore, the tool is also deeply integrated with WealthBaskets that are available on WealthDesk. 

Prabhudas Lilladher broking users can now use the Portfolio Optimiser tool from within their respective brokerage accounts.  

Commenting on this, Ujjwal Jain, Founder and CEO of WealthDesk said, “Our vision as a Platform ecosystem has always been to bring the most institutional premium offering to retail Investors in India. Globally, such optimiser tools are provided to Private Wealth Clients and institutional investors and such an offering now would be available to retail investors in India on top of Broking. Technology has completely democratized access to such offering and WealthDesk is focusing on it’s core strength of bringing it to as many retail Investors on top of Broking as a Platform. OpenQ being the institutional driver of Factor/Quant based Investing in India has come together for this unique offering. We are aiming to provide this offering to 1 million users through our broking partners. We are sure this will change the way people look at their Investments. They will get more detailed insights and people can make informed choices.” 

Sujit Modi, Founder and CEO of OpenQ (Quantech Capital) said, “At OpenQ, we combine Technology, Data Science and Quantitative Finance to bring the globally best manufacturing practices in designing wealth solutions as a service. OpenQ’s suite of investment and analytical products are offered as an integrated solution which will make wealth creation a passive and easy to follow process for the clients.”   

“OpenQ Optimiser will enable our clients to benefit in two ways - Apart from applying PL views on stocks they hold in their portfolio, they will now get a quantitative view of their portfolios based on Style Factors – For example, how much of the portfolio is in Dividend Yield style stocks versus how much in Momentum style stocks, apart from things like Market Capitalisation based exposures. Clients can use such advice to align portfolios to their risk profile as well as market outlook at the click of a button and therefore be much more confident about their investing” added Sandip Raichura, CEO (Retail and Distribution), Prabhudas Lilladher 

About WealthDesk 

WealthDesk is India’s pioneering B2B2C SaaS based Neo AMC platform on top of broking that powers research, advisory, broking, wealth management and portfolio management to retail investors at scale. The platform captures the entire Investment/Asset management/Advisory value chain from portfolio creation on top of Equities and ETFs, productizing these into investment products and enabling large scale distribution through broking with strong network effects. WealthDesk is building a new investment product ecosystem in India on top of Direct Stocks and ETFs  which will drive the future of investing in India in capital markets. 

About OpenQ 

OpenQ is a Factor led Quantitative Platform that uses principles of data science, quantitative finance, mathematical constructs and computer algos to design Investment and Analytical solutions. All the OpenQ offerings are created after rigorous evaluation over the last 20 years making wealth creation a passive process that one needs to follow with certain discipline.