Jana Small Finance Bank Appoints Buvanesh Tharashankar As New Chief Financial Officer

To strengthen the top management team, Jana Small Finance Bank today announced the appointment of Buvanesh Tharashankar as its President and Chief Financial Officer under the category of Key Managerial Personnel.

Buvanesh Tharashankar will be instrumental in providing strategic and long-term financial direction to Jana SFB’s business and will work closely with others in the organization’s leadership team to streamline business processes, working capital management and business strategy, optimize revenue and minimize costs.

A Citibank veteran of 26 years, Buvanesh has worked across a wide spectrum of roles within the finance function in multiple geographies. Buvanesh is a qualified Chartered Accountant and received his Bachelors in Commerce from Mumbai University.

Speaking on his appointment, Mr Ajay Kanwal, MD and CEO of Jana Small Finance Bank, said, “On behalf of Jana Small Finance Bank family, I welcome Buvanesh to our senior leadership team. Buvanesh brings a wealth of experience in management and governance of the finance function at senior levels and the acumen needed at Jana SFB.”

About Jana Small Finance Bank:

Jana Small Finance Bank Limited (Jana Small Finance Bank) is one of the leading Small Finance Banks of India in terms of assets under management and deposit size as at March 31, 2020, as per the report titled ‘Overview of Banking Sector in India’ dated March 12, 2021, issued by IRR Advisory (“IRR Report”). Jana Small Finance Bank has the second most geographically diversified portfolio with a pan-India presence among all Small Finance Banks in India as at March 31, 2020 (Source: IRR Report). As at February 28, 2021, Jana Small Finance Bank had 611 Branches, including 166 Branches in Unbanked Rural Centres, and 134 ATMs located in 229 districts in 19 states and three union territories. Jana Small Finance Bank has served over 8.00 million customers since 2008, including approximately 3.05 million active customers.

Jana Small Finance Bank Limited (the “Bank”) is proposing, subject to receipt of requisite approvals, market conditions and other considerations, to make an initial public offer of its equity shares and has filed a draft red herring prospectus (“DRHP”) with the Securities and Exchange Board of India. The DRHP shall be available on the website of SEBI at www.sebi.gov.in, websites of the Stock Exchanges i.e. BSE and NSE at www.bseindia.com and www.nseindia.com, respectively, and is available on the websites of the BRLMs i.e. Axis Capital Limited, ICICI Securities Limited and SBI Capital Markets Limited at www.axiscapital.co.in, www.icicisecurities.com and www.sbicaps.com, respectively. Any potential investor should note that investment in equity shares involves a high degree of risk and for details relating to such risk, see "Risk Factors" of the RHP, when available. Potential investors should not rely on the DRHP for any investment decision.

This announcement has been prepared for publication in India and may not be released in the United States. This announcement does not constitute an offer of securities for sale in any jurisdiction, including the United States, and any securities described in this announcement may not be offered or sold in the United States absent registration under the US Securities Act of 1933, as amended, or an exemption from registration. Any public offering of securities to be made in the United States will be made by means of a prospectus that may be obtained from the Bank and that will contain detailed information about the Bank and management, as well as financial statements. However, no public offering of securities is being made in the United States.

Melorra Launches Its 11th Experience Centre In Koramangala Forum Mall, Bengaluru

* The company has been growing from strength to strength and has launched India’s first harmonized retail concept

* Melorra now has experience centres pan India apart from a digital presence covering every pin code

Melorra, India’s fastest growing lightweight D2C fine jewellery brand designing affordable and trendy jewellery for everyday wear has launched its 11th experience centre at Koramangala Forum Mall, Bengaluru. This is Melorra’s 3rd experience centre in Bengaluru. The company will be launching 350 more centres in the years ahead. 

Melorra has been recording great traction despite the pandemic, which showcases how there is an increasing demand for daily wear gold across the country. Melorra is where its customers are and is bringing BIS hallmarked, trendy and lightweight gold to them by delivering to every pin code in India. From being a family heirloom tucked away in lockers, the brand has transformed how Indians approach gold jewellery with its trendy yet affordable pieces that can be worn every day.

Although Melorra is a digital-first D2C brand, it has launched India’s first harmonized retail concept where digital technology is embedded into the offline shopping experience too. Customers get a seamless choosing and buying experience including the touch, feel and trial of Melorra jewellery. It is the only lightweight and trendy gold jewellery brand offering BIS Hallmarked pieces to all 718 Indian districts ahead of the government’s mandate of 256.

Speaking about this, Saroja Yeramilli, Founder and CEO, Melorra, said, “Melorra has been growing extremely well even among the pandemic lows. We are now happy to inaugurate our third experience centre in Bengaluru and the 11th in India. Bengaluru is one of the most active retail markets for Melorra and we hope to witness good response in the city. Women today demand jewellery that is as dynamic as their personality and Melorra offers this and more.”

Adding further Sid Talwar, Partner, Lightbox Ventures, said, “We at Lightbox are extremely happy to announce the launch of Melorra’s 11th experience centre. Our belief in Saroja’s vision continues to grow stronger with every step that the brand takes towards its next phase of growth. The brand has completely transformed the perception around gold not just with its unique offerings but also the fact that with them, the customers can be assured of authenticity and purity as well. I wish them all the best in their endeavors.”

All of Melorra’s experience stores are designed for any of the many journeys a customer may choose to adopt: shop online pickup in-store; shop in-store ship to home and everything in between. Over 70% of their collection is priced under INR 30,000 and all the products are designed as per the latest fashion trends. To ensure consumer trust, every product at Melorra is put through 25 quality checks before it is shipped out. Melorra offers a 30-day money return policy and a lifetime exchange policy.

Since its inception in 2016, Melorra has delivered to over 27000 pin codes in the country and made its mark everywhere. The company has been growing at 200% year on year and currently stands at a revenue of INR 350 crore. It recently raised $24 million in funding from 9Unicorns, Symphony Asia, Value Quest, and other family offices. Melorra is aiming for $1 billion in revenue five years from now. 

Godrej Locks & Architectural Fittings And Systems Targets 46% Growth In Kitchen Fittings

 Godrej Locks & Architectural Fittings And Systems Targets 46% Growth In Its Kitchen Fittings Segment This Season.

Commenting on this, Mr. Shyam Motwani, EVP and Business Head, Godrej Locks & Architectural Fittings and Systems, said, “At Godrej Locks, our constant effort has been to delight our customers through best?in?class solutions designed carefully to meet their constantly evolving needs. Festivities call for redecorating and renovating homes, and what better than upgrading the kitchen with the most premium looking fittings. We are seeing encouraging signs of demand revival and are targeting a double-digit growth rate of 46% during this festive season. In 2020, we witnessed maximum traction for Kitchen Fittings and this year, we foresee demand for non-wired solutions for kitchens such as Ergo Drawer Channels, Lift up solutions, etc. We plan to grow this to INR 100 crore segment in the next 3-4 years.”

Currently, the Kitchen Fittings segment contributes about 7% to the overall revenues of Godrej Locks & Architectural Fittings and Systems. The company has been present in the architectural fittings & kitchen systems category for the last seven years since its launch in 2013. Since then, the company has aimed to cater to the growing needs of the urban middle-class for products that are strong, durable, and aesthetically superior.

Recently, the company also announced the ‘Godrej Festival Sure-Win Offer’, which ensures guaranteed cashback on every purchase of a Godrej Locks & Architectural fittings product.

About Godrej Locks:  

Godrej Locks is a 123-year-old leading manufacturer of innovative locking devices. Since its inception in 1897 by Ardeshir Godrej, the name ‘Godrej’ has become synonymous with trust, protection and integrity. From the first Anchor branded lock in 1897 to the first ever spring less lock in 1907, to the iconic 'Nav-Tal' in 1954, and to the postmodern biometric locks, Godrej has set every benchmark in the locks industry. Over the years, Godrej Locks and Architectural Hardware & Fittings have changed in form, function and scope of application. But one thing still remains the same – the solid stamp of trust and reliability. Godrej Locks adhere to global quality norms and hold ISO 9001, ISO 14001 and OHSAS 18001 certifications. 

With their locks reaching several countries around the world over a period of time, the brand has come a long way in delivering world-class smart locking solutions, therefore revolutionizing the very perception of a locking device from a mere functionality at an entry and exit point, to a proud pause at the doorstep, a moment to take in the significance of how far they have come. 

IIT-B Alumnus Develops India's First AIoT-Powered Autonomous Hatchback Car, To Hit Indian Roads By March 2022

What looked like science fiction only a few decades ago now will soon be a reality as Mumbai-based automobile-as-a-service company Autonomous Intelligence Motors Private Limited (AIMPL) is all geared up to hit the Indian roads with its path-breaking artificial intelligence-of-things (AIoT) powered autonomous hatchback car. The company will launch its ultramodern about crewless or driverless petrol and diesel hatchback variants in March 2022.

Founded in 2020 by IIT-Bombay alumnus Kushal Tanaji Shilimkar, AIMPL is a full-stack driverless automobile company that aims to unlock the future of India’s AIoT-powered autonomous mobility.

From AI to robotics, AIMPL is a classic case study on how the automobile startup pivoted to revolutionize safe and sustainable autonomous transportation and mobility solutions to provide a resilient impetus to unlock the future of clean mobility.

The launch of AIMPL’s first-of-its-kind artificial intelligence-of-things (AIoT) powered driverless hatchback car will mark a significant milestone for India’s autonomous driving industry next year. It will be a symbol of the country’s first-ever product-ready AI-powered variant fitted with BS8-compliant engines (for both petrol and diesel variants), besides electric vehicles (EVs). 

The fully autonomous cars will have highly optimized cutting-edge hardware platforms with integrated custom sensors, cameras and radars. Its perception system will use data sensed from multiple sensors and algorithms fitted in the car, which will indicate road curvatures, potholes, routes, lanes. 

AIM’s AI-based automobile sensors can perform object identification of innumerable obstacles, including emergency diversion, roadblocks, Snarled-up traffic, foggy weather conditions, heavy rainfall, flocks of scooters whizzing around cars, taxis veering off into lanes, autorickshaws abruptly halting in the middle of the street and hand-pulled carts creating congestion along the ring roads. The sensors will allow the crewless vehicle to instantly identify the actual situation and cover a distance of roughly 500 meters, thereby enabling a wide range of driving scenarios at even greater speed.

The startup seeds were sown back in 2014 when third-year Computer Technology student Shilimkar from Bharati Vidyapeeth College of Engineering, Khargar, Navi Mumbai, won great compliments and rave reviews in the National Robotics Championship (NRC) held in IIT-Bombay, where he showcased his cutting-edge breakthrough. He was a national finalist in the NRC in Computer Technology to showcase his autonomous technology. 

By using a working prototype, techno-hungry Shilimkar tested his AI-powered autonomous vehicle in a controlled environment at the NRC, where all basic road scenarios were artificially created to assess the efficacy of its pedestrian control system collision avoidance system, drive-by-automation technology, perception module software, and vehicle Odometry. 

 “It was in 2019 when my entrepreneurial journey took a turn for the better. I was gobsmacked to encounter a media report one morning, in which American entrepreneur Elon Musk was quoted with his tall claims that Tesla is the only company in the world to launch autonomous vehicles capable of L5 autonomy by the end of 2021. It was quite absurd and Ironical to read such exaggerated assertions as I had proved it way back in 2014 that I was ahead of the game and successfully tested my AIoT powered autonomous car prototype in 2014 in IIT-B. This was the defining moment in my career, and I decided to go in for robust backward integration and indigenize my product to suit Indian road conditions,” said Shilimkar.  

“It’s a matter of a couple of months before our driverless cars take everyone to work. I am confident that we’ll see a broad acceptance for fully autonomous vehicles, said Mr. Shilimkar.  

"Going entirely driverless is a key to accomplishing complete autonomy in driving and bringing to fruition our ambitious vision of engineering mobility with autonomous spirit, said Mr. Shilimkar.

“We are currently developing safe and reliable autonomous driving technology for the Indian consumer. Having accumulated several thousands of kilometers in autonomous road testing in complex scenarios, we have built a robust foundation to deliver driverless driving systems at par with global standards,” he said.

As a next-generation AIoT-powered autonomous automobile player, AIM has digital technologies, such as AI, voice control, and IoT features to make driverless driving more intelligent and safe. It has a full-bodied safety navigation system and driver assistance technology that will use the Google Map algorithm to analyze traffic data in real-time.

“Our vehicles would be 50 percent dependent on Google Maps and rest on our sensors. This feature will help us avoid the risk of total reliance on Google Maps, as sometimes tiny details are unavailable due to glitches,” said Mr. Shilimkar.

“As we are an inch closer to achieving our objective to launch our indigenously built next-generation autonomous vehicles, AIM is striving to make sure nobody in India is left behind to avail benefits of our ground-breaking ‘AIoT-autonomous’ technology.

ABOUT AUTONOMOUS INTELLIGENCE MOTORS PRIVATE LIMITED

Autonomous Intelligence Motors Private Limited (AIM) is a Mumbai-based automobile-as-a-service company, which aims to foster sustainable, safe, and accessible mobility in India. 

Founded in 2020 by IIT-Bombay alumnus Kushal Tanaji Shilimkar, full-stack driverless automobile company AIMPL aims to unlock the future of AIoT-powered autonomous mobility and augment India’s mobility system.

For the past several years, Shilimkar and his team have been exploring possibilities to create AI-powered autonomous vehicles capable of sensing the environment, measuring distance, detecting road edges, identifying lanes, and operating without human involvement, using sensory inputs.

The company has harnessed deep industry experience in its mission to develop driverless technology. It has been established as an innovator of AI-powered autonomous mobility technology, making India a frontrunner in the global race of self-driving.

AIMPL ‘s team of interdisciplinary data scientists, ML, AI experts, and experienced software developers collectively offers skill sets that allow the company to engineer autonomous technology with data-driven insights and overwhelming safety experience.  

MANAGEMENT

MR. KUSHAL TANAJI SHILIMKAR, FOUNDER & CEO, AUTONOMOUS INTELLIGENCE MOTORS PRIVATE LIMITED  

AIMPL was founded in 2020 by IIT-Bombay alumnus Kushal Tanaji Shilimkar. The full-stack driverless automobile company was formed to unlock the future of AIoT-powered autonomous mobility and augment India’s mobility system.

 Shilimkar graduated from IIT-Bombay in 2016 with a B.Tech degree in Computer Technology. He also holds a diploma in Computer Technology from Bharati Vidyapeeth College of Engineering, Khargar, Navi Mumbai. 

 In 2016, he started a bespoke digital marketing company—Vishranti Infotech in Mumbai. In 2018, he was adjudged among the top-500 CEOs of India by INDIA 5000.

Tata Motors To Increase Prices Of Its Commercial Vehicles From January 1, 2022

Tata Motors, India’s largest commercial vehicle manufacturer, has announced an impending price hike of its commercial vehicle range. An increase in price in the range of 2.5%, will be implemented from 1st January 2022 and will be put into effect across segments – M&HCV, I&LCV, SCV and Bus, basis individual model and variant of the vehicle.

The increase in the prices of commodities such as steel, aluminium and other precious metals, in addition to higher costs of other raw materials has incited this price hike commercial vehicles. While the company is absorbing a significant portion of the increased costs at various levels of manufacturing, the steep rise in overall input costs makes it imperative to pass on some residual proportion via a minimal price hike.

About Tata Motors

Part of the USD 109 billion Tata group, Tata Motors Limited (NYSE: TTM; BSE: 500570 and 570001; NSE: TATAMOTORS and TATAMTRDVR), a USD 34 billion organization, is a leading global automobile manufacturer of cars, utility vehicles, pick-ups, trucks and buses, offering extensive range of integrated, smart and e-mobility solutions. With ‘Connecting Aspirations’ at the core of its brand promise, Tata Motors is India’s market leader in commercial vehicles and amongst the top three in the passenger vehicles market.

Tata Motors strives to bring new products that fire the imagination of GenNext customers, fueled by state of the art design and R&D centers located in India, UK, US, Italy and South Korea. With a focus on engineering and tech enabled automotive solutions catering to the future of mobility, the company’s innovation efforts are focused to develop pioneering technologies that are sustainable as well as suited to evolving aspirations of the market and the customers. The company is pioneering India's Electric Vehicle (EV) transition and driving the shift towards sustainable mobility solutions by preparing a tailor-made product strategy, leveraging the synergy between the Group companies and playing an active role liasoning with the Government in developing the policy framework

With operations in India, the UK, South Korea, Thailand, South Africa, and Indonesia, supported by a strong global network of 103 subsidiaries, 9 associate companies, 4 joint ventures and 2 joint operations as on March 31, 2021, Tata Motors’ commercial and passenger vehicles are marketed in countries, spread across Africa, Middle East, South & South East Asia, Australia, South America, Russia and other CIS countries.

Lava Introduces Special EMI Offers For Z3 In The Indian Market

Lava International Ltd, a leading Indian mobile handset company announces special EMI offers for its newly launched Z3 smartphone. As a part of this special offering, Lava has partnered with Bajaj Finance to provide two exciting schemes- Double Zero & No Cost EMI. While the Double Zero scheme will give customers 4 months EMI offer at zero interest & zero down payment, the No Cost EMI scheme will enable customers to split the phone’s cost into 5 easy installments. Out of these 5 installments, the customer will have to pay the first one in advance as a down payment and then pay the remaining 4 installments at zero interest rate. This means that the customers can take home their Lava Z3 by just spending a nominal amount of Rs 1460. For online buyers, Lava will provide 3 months and 6 months no-cost EMI on all major cards.

Additionally, Lava will bring more exciting EMI offers for Z3 in the coming days.

Lava Z3 comes with 3GB RAM & 32GB ROM which coupled with MediaTek Helio processor ensures seamless performance. Equipped with a huge 6.5 inch HD+ IPS notch display, a loud audio speaker, and a big 5000 mAh battery, Lava Z3 packs a stellar combination of features for budget buyers. Priced at just Rs 7299, the phone is a visual delight with its textured finish on the back and two striking color variants- striped cyan & striped blue. Lava Z3 is currently available for purchase on Flipkart, Amazon, Lava e-store, and the brand’s 100k+ offline stores spread across the country.

On the camera front, the smartphone features an 8 MP AF Dual AI camera setup, with LED Flash and a 5MP selfie shooter with screen flash that captures stunning shots, even in low light. The smartphone’s inbuilt camera features like Gif mode, smile capture, AR stickers, and filters let users explore their creative streak and enhance their overall photography experience. Moreover, Lava Z3 is equipped with a lightning-fast fingerprint scanner along with face unlock that ensures maximum security for users’ data.

Commenting on the offer, Mr. Tejinder Singh, Head-Product, Lava International said, “Lava, as a responsible Indian brand has always believed in empowering people to do more. This EMI offer is aimed at enabling feature phone users to fulfill their aspiration of owning a smartphone & becoming a part of digital India. We are hopeful that this offer will aid many smartphone aspirers to overcome the barrier of affordability. ”

Lava Z3 runs on Android 11 and comes with a guaranteed Android OS update. On the connectivity front, the smartphone features Bluetooth version 5.0, WiFi, dual 4G SIM support, 3.5 mm audio jack, and OTG support. Additionally, the phone comes with a 100 day free screen replacement offer.

C.E. Info Systems Limited (MapmyIndia)’s iIPO To Open On Dec 09, 2021, Fixes Price Band At Rs 1,000-1,033 Per Equity Share

* Price Band of Rs 1,000/- – Rs 1,033/- per equity share bearing face value of ? 2 each (“Equity Shares”).

* Bid/Offer Opening Date – Thursday, December 09, 2021 and Bid/Offer Closing Date – Monday, December 13, 2021.

* Minimum Bid Lot is 14 Equity Shares and in multiples of 14 Equity Shares thereafter.

* The Floor Price is 500 times the face value of the Equity Share and the Cap Price is 516.50 times the face value of the Equity Share.

C.E. Info Systems Limited (MapmyIndia) (“Company”), a data and technology products and platforms company, offering proprietary digital maps as a service (“MaaS”), software as a service (“SaaS”) and platform as a service (“PaaS”) and as per the F&S Report, India’s leading provider of advanced digital maps, geospatial software and location-based IoT technologies, is proposing to open the Bid/Offer Period in relation to its initial public offering of Equity Shares (the “Offer”) on Thursday, December 09, 2021. The Bid/Offer Period will close on Monday, December 13, 2021. The Price Band for the Offer has been fixed at ? 1,000 – ? 1,033 per Equity Share.

The Offer consists of an offer for sale of 10,063,945 Equity Shares comprising up to 4,251,044 Equity Shares by Rashmi Verma (the “Individual Selling Shareholder”), up to 2,701,407 Equity Shares by Qualcomm Asia Pacific Pte. Ltd., up to 1,369,961 Equity Shares by Zenrin Co., Ltd. (collectively, the “Investor Selling Shareholders”), and up to 1,741,533 Equity Shares by persons referred to in Annexure A (the “Other Selling Shareholders” and together with the Individual Selling Shareholder and the Investor Selling Shareholders, the “Selling Shareholders”) to the Red Herring Prospectus dated December 2, 2021 (the “RHP”) filed with the Registrar of Companies, National Capital Territory of Delhi and Haryana at New Delhi (“RoC”).

The Company, the Individual Selling Shareholder, and the Investor Selling Shareholders may, in consultation with the book running lead managers to the Offer, consider participation by Anchor Investors in accordance with the Securities and Exchange Board of India (Issue of Capital and Disclosure Requirements) Regulations, 2018, as amended (the “SEBI ICDR Regulations”). The Anchor Investor Bid/Offer Period shall be one Working Day prior to the Bid/Offer Opening Date, i.e. Wednesday, December 08, 2021.

The Offer is being made through the Book Building Process, 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 and in compliance with Regulation 6(1) of the SEBI ICDR Regulations, wherein not more than 50% of the Offer shall be allocated on a proportionate basis to Qualified Institutional Buyers (“QIBs”, and such portion as “QIB Portion”), provided that the Company, the Individual Selling Shareholder, and the Investor Selling Shareholders may, in consultation with the Book Running Lead Managers, 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 undersubscription, 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.

Further, 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 (“RIBs”) in accordance with the SEBI ICDR Regulations, subject to valid Bids being received 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 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 objects of the Offer are to (i) to carry out the Offer for Sale of up to 10,063,945 Equity Shares by the Selling Shareholders; and (ii) achieve the benefits of listing the Equity Shares on the Stock Exchanges.

The Equity Shares offered in this Offer are proposed to be listed at both BSE Limited (“BSE”) and the 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.

Axis Capital Limited, JM Financial Limited, Kotak Mahindra Capital Company Limited, and DAM Capital Advisors Limited are the book running lead managers to the Offer. Link Intime India Private Limited is the registrar to the Offer.

All capitalized terms used herein and not specifically defined shall have the same meaning as ascribed to them in the RHP.