SILICON VILLAGE

Wednesday, May 18, 2022

Tepid Listing of LIC IPO; Stock Settles At Rs 875.45 On BSE On Debut

Life Insurance Corporation of India (LIC) ("Company"), India's largest life insurer with a market share of 64.1 percent in terms of premiums, listed on the NSE at Rs 872 at 8.11% discount over its issue price. The scrip got listed at BSE at Rs 867.20 per share, 8.62% per cent discount over its issue price of Rs 949. The shares of the company at day end closed at Rs 875.45 per share on BSE and at Rs 875.25 per share on NSE. The initial public offering was offered at a lower price band of Rs 902 per share and higher price band of Rs 949 per equity share.

As per BSE, the total quantity traded stood at 27.55 lakh shares with a delivery quantity percentage of 47.05%. Total Quantity traded at NSE stood at 487.92 lakh shares with a delivery quantity percentage of 39.18%. Total Turnover (BSE+NSE) on Day 1 stood at Rs 4591.10 crore.

The Market Capitalization of the Company post today’s closing price stood at Rs. 5.53 trillion as per BSE and Rs. 5.52 trillion as per NSE.

The initial share sale with a face value of Rs 10 per equity share, is a comprehensive offer-for-sale (OFS) of up to 221374920 equity shares by the President of India through the Ministry of Finance, Government of India ("Selling shareholders") and the issue was closed on 9th May 2022. The portion reserved for eligible policy holders was subscribed 6.12 times, reservation for eligible employees was subscribed 4.40 times, Retail Category was subscribed 1.99 times; the non-institutional category witnessed subscription of 2.91 times and qualified institutional buyers category saw subscription of 2.83 times. Overall the issue was subscribed 2.95 times.

Kotak Mahindra Capital Company Limited, Axis Capital Limited, BofA Securities India Limited, Citigroup Global Markets India Private Limited, JM Financial Limited, J.P. Morgan India Private Limited, Goldman Sachs (India) Securities Private Limited, ICICI Securities Limited, Nomura Financial Advisory and Securities (India) Private Limited and SBI Capital Markets Limited are the book running lead managers to the issue.

Tuesday, May 17, 2022

FalconX Launches 5-Week Global Startup Immersion Program In Bangalore

* Start-up founders can access opportunities to enter the US market

US-based tech accelerator, FalconX launched ‘Global Startup Immersion Program’ today in Bangalore to enable prospective startups launch their products in the US markets and steer them towards growth and success.

The Silicon Valley based accelerator has curated this five-week programme that is aimed at selecting and helping high impact start-ups expand their businesses in new markets primarily in the US. The immersion programme will provide tailored business, technical and leadership mentoring from over 40 serial entrepreneurs, investors and experts in the valley. The programme will culminate in a ‘Technology Day’ where startups will get an opportunity to pitch to more than 100 VCs, Corporate executives and Industry leaders. The top three startups from the immersion programme will also receive $100K strategic funding’s from FalconX.

The selected startups will gain access to a plethora of funding opportunities, 1:1 curated deal flow sessions and multiple face-to-face networking opportunities with trusted advisors and potential partners. They will be able to test, evaluate and scale their products and solutions for the global markets.

The immersion program is interlaced with practical workshops and empowering Master Class sessions by BV Jagadeesh, a successful serial entrepreneur, investor and tech evangelist. The program will provide step by step, methodologies and ground rules for success in rapidly scaling and monetizing the business & achieving product market fit.

Mr. BV Jagadeesh, Co-founder- FalconX said, “ FalconX Global Immersion Program would be hugely beneficial to startups from India who are planning to go global. Best way for such companies is to link with Silicon Valley in California using FalconX expertise as a springboard to accelerate their growth in international markets” .

Murali Chirala co-founded FalconX along with veteran technology entrepreneurs and investors BV Jagadeesh, Raju Reddy, Ashish Gupta, Pradeep Aswani, Praveen Akkiraju, Krishna Yarlagadda, Anurag Jain, Raju Indukuri and JP Vejendla. They have invested in more than 200 startups whose market cap recently exceeded 70 billion dollars.

Honeywell Technologies Solutions Is Celebrating 20th Anniversary Of Its Madurai Center

Honeywell Technology Solutions (HTS), the engineering and technology development arm of Honeywell is celebrating the 20th anniversary of its Madurai center this year.

Founded in 2002, HTS Madurai has engineering capabilities for design, development and testing of cockpit systems, and mechanical and environmental controls for aircraft and autonomous vehicles serving global original equipment manufacturers (OEMs). The center also develops technologies related to building security and access control and various other projects for Honeywell globally.

With an eye on the future, Honeywell is planning to invest in additional laboratories, equipment and engineering talent which will further enhance and broaden the center’s capability in aerospace, building technologies and sustainability initiatives that support technology development projects for Honeywell.

Samuel Pratap, president, Honeywell Technology Solutions, said, “Honeywell was among the first companies to establish a high-end, global technology development center in Madurai. Over the past two decades, it has excelled in delivering breakthrough innovations as well as connected and differentiated products and solutions for India and the world.”

Currently, local engineering talent constitutes about 90% of Honeywell’s existing workforce at the center. “Our Madurai center has helped develop local talent – many of whom have taken on global leadership roles,” said Pratap.

The center supports Honeywell’s aerospace, building technologies and process solutions businesses globally. It also has teams from the Global Tools Center of Excellence, Global Verification and Validation Center of Excellence, and Enterprise IT organization. They play key roles as software and system architects, test experts, and IT and cybersecurity experts. The proposed expansion will enable Honeywell to consolidate these capabilities onsite.

HTS drives relentless innovation across its centers in Bengaluru, Hyderabad, Gurugram and Madurai. Its strong talent pool delivers futuristic technologies with leadership commitment and purpose-led-approach across a range of industry sectors such as artificial intelligence (AI), cybersecurity, blockchain, machine learning (ML) and big data among others. Apart from creating a highly empowered environment for the innovators, Honeywell has also been preparing and shaping the future leaders for the organization.

In addition to the four centers in India, HTS has centers in Mexico City (Mexico) and Brno (Czech Republic).

About Honeywell

Honeywell (www.honeywell.com) is a Fortune 100 technology company that delivers industry-specific solutions that include aerospace products and services; control technologies for buildings and industry; and performance materials globally. Our technologies help aircraft, buildings, manufacturing plants, supply chains, and workers become more connected to make our world smarter, safer, and more sustainable. For more news and information on Honeywell, visit www.honeywell.com/newsroom.

Tata Motors Showcases High-Performance Trucks At EXCON 2022

* Exhibits three exclusive zones – Surface Tipper Zone, Mining and Quarry Zone, and Ready Mix Concrete Zone

Tata Motors, India’s largest commercial vehicle manufacturer, showcases its state-of-the-art high-performance trucks at South East Asia’s biggest construction equipment exhibition – EXCON 2022, under its ‘Striding towards nation building’ theme. Built for boosting productivity and profitability of fleet-owners, the performance-packed product portfolio of Tata Motors features innovative mobility solutions across diverse operations. Nine high-performance M&HCVs (Medium & Heavy Commercial Vehicles) are displayed at the five-day exhibition.

For over 76 years, Tata Motors has been at the forefront of building the nation, enabling growth in the logistics, construction, infrastructure and mining sector. Tata Motors has the widest product portfolio, which is built to ensure high productivity and low TCO (Total Cost of Ownership) for the customers. The vehicles are developed with superior technology, which boosts performance while ensuring utmost safety, which are further strengthened by innovative value-added services through the vehicle lifecycle. The BS6 range of M&HCVs has more than 1.50 lakh happy customers and has covered over 200 million kilometres.

Commenting on the occasion, Mr. V Seethapathi, Vice President, M&HCV Product Line, Tata Motors said, “We are delighted to showcase Tata Motors’ finest and widest commercial vehicle range at a prestigious event like EXCON 2022. With India being on a fast growth trajectory of construction and infrastructure sectors, Tata Motors strives to deliver tomorrow’s needs, today. As a mobility solutions provider, the vehicles deliver state-of-the-art technology, offering maximum uptime and higher profitability with optimal cost of ownership for fleet owners. EXCON 2022 also gives us a platform to present our comprehensive vehicle maintenance and fleet management solutions, backed by Tata Motors’ widest sales and service network across the country.“

The M&HCV range comes with the standard fitment of Fleet Edge – Tata Motors’ next-gen digital solution for optimal fleet management. Tata Motors also offers its flagship initiative, Sampoorna Seva, a bouquet of service offerings including Fleet Management Solutions, On-site support, Breakdown Assistance, Insurance and Accidental Repair, Extended Warranty and other add-on services for vehicle maintenance and lifecycle management.

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 over 103 subsidiaries, 11 associate companies, 4 joint ventures and 2 joint operations as on December 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.

JK Tyre Expands Its OTR Range-Launches 4 New OTR Tyres At Excon

Expanding their product range, Indian Tyre major, JK Tyre & Industries Ltd today launched 4 new offerings in their Off-the-Road Tyre Segment at South Asia’s largest construction equipment event Excon 2021 in Bangalore.

Over the years, JK Tyre has introduced several hi-technological products that are best suited for Indian conditions. Taking this further, four new products namely: 45/65-45 58PR VEM 63 L5 TL, 14.00-24 GTL CHAMP 16 PR G3 TT, 12.00-24 HARD ROCK CHAMPION 20PR E4 TT and 16.00-25 VEM 045 44PR E3 TT have been added to their existing product portfolio.

Speaking at the event, Mr. VK Misra, Technical Director, JK Tyre & Industries Ltd. said, “We at JK Tyre are excited to showcase the most cutting-edge technical breakthroughs at Excon 2021. Our new premium OTR tyre collection is created with advanced technology and is particularly designed to deliver increased mileage and exceptional traction in the most demanding of situations. The new tyres feature a longer tread life and wear and cut resistant tread compounds to provide extended service life, in addition to being tailored to offer superior stability. We aim at delivering improved performance with enhanced design characteristics. The Indian tyre industry is booming, offering us plenty of opportunity to demonstrate our knowledge and create solutions that meet our clients' expectations.”

The 45/65-45 58PR VEM 63 L5 tyre is a premium heavy-duty product designed for wheel loaders that provides an extra load carrying capacity along with excellent casing reliability.

Addition to the VEM 63, 14.00-24 GTL CHAMP 16 PR is designed to provide high traction, mileage and durability in harsh operation conditions and are meant to be used on Motor Grader & Tele handler.

The 12.00-24 HARD ROCK CHAMPION 20PR E4 a high tread depth tyre that provide excellent protection and traction for mining tipper trucks. The 16.00-25 VEM 045 44PR E3 TT has been designed to meet the increased load per tyre demands of new age mining tippers.

JK Tyre & Industries Limited

The flagship company of JK Organisation, JK Tyre & Industries Ltd is amongst the top 25 manufacturers in the world. Pioneers of radial technology, the Company produced the first radial tyre in 1977 and is currently the market leader in Truck Bus Radial segment. The Company provides end-to-end solutions across segments of passenger vehicles, commercial vehicles, farming, Off-the-Road and two & three-wheelers.

A global force, JK Tyre is present in 105 countries with over 180 Global distributors. The Company has 12 globally benchmarked ‘sustainable’ manufacturing facilities - 9 in India and 3 in Mexico – that collectively produce around 32 million tyres annually. The Company also has a strong network of over 6000 dealers and 650+ dedicated Brand shops called as Steel Wheels and Xpress Wheels.

JK Tyre’s unwavering commitment towards innovation is reflected through its state-of-the-art global research and technology centre – the Raghupati Singhania Centre of Excellence - in Mysore, which houses some of the world’s finest technologies and techniques.

JK Tyre launched India’s first ever ‘Smart Tyre’ technology-and introduced Tyre Pressure Monitoring Systems (TPMS) which monitors the tyre’s vital statistics, including pressure and temperature. In 2020, the company rolled out its 20 millionth Truck/Bus Radial tyre becoming the first and the only Indian company to achieve this milestone.

JK Tyre is the only Indian tyre manufacturer to be included in the list of Superbrands India in 2021 for the eighth consecutive year. Additionally, JK Tyre was featured among India’s Best Companies to Work For by Great Place to Work®. Another remarkable addition to the list of the brand's accolades is being a 3-time recipient of the Economic Times - Iconic Brand of the Year Award. JK Tyre has been conferred the Sword of Honour for Safety across its plants by the British Safety Council, UK. The company entered the Limca Book of Records with the country’s largest off-the-road tyre - VEM 04.

JK Tyre is also synonymous with motorsport in the country. For over three decades, the Company has relentlessly worked towards shaping India’s positioning as the motorsport hub of Asia, developing the right infrastructure for the sport and promoting young talent in the arena.

Tata Hitachi Commemorates 60 Years And Reinforces Commitment To Excon

· New launches, and unveiling of future products:

o Machines: All-new Wheel Loader ZW225, all-new EX200, the new cutting-edge indigenously developed mini excavator NX30, and SHINRAI PRO CNG Variant

o Attachments: Sandvik’s premium Rock Breaker range and KINSHOFER’s Drum Cutter, Hedge Trimmer and Mulcher

· On Display: EX Series and ZAXIS Series range of Hydraulic Excavators, SHINRAI range of Backhoe Loaders, the country’s only Hydrostatic Wheel Loader TL340H PRIME, and an extensive range of customised attachments meeting the demands of several specific industry applications

· Technology showcase: Cutting-edge telematics solutions ConSite and InSite, and the eDost digital platform designed for real-time connect with customers and other stakeholders for all their needs

Tata Hitachi, one of India’s leading construction machinery companies, and the market leader in excavators, today inaugurated its pavilion at Excon. Under the larger theme of its trademarked slogan, ‘Chalo Desh Banaye,’ the company commemorated 60 years of operations with the theme ’60 Years of Atmanirbharta.’

On display during the exhibition will be the company’s range of Compact, Infra and Mining Equipment, including the recently launched CEV-IV compliant Shinrai Backhoe Loaders and TL340H PRIME Series Hydrostatic Wheel Loader. Tata Hitachi also signalled new additions to its product portfolio, which include the launch of ZW225, the all-new 5-Tonne Wheel Loader, and the unveiling of its new cutting-edge indigenously developed mini excavator, NX30. As part of its environmental commitment, Tata Hitachi will also unveil the CNG variant of its SHINRAI PRO Backhoe Loader. Also, on showcase will be its all-new EX200, Prime series EX70, and ZAXIS and EX Series range of hydraulic excavators. Tata Hitachi’s support solutions on display will include a range of attachments and genuine spare parts, and array of service offerings.

In terms of technology, Tata Hitachi will be exhibiting its cutting-edge telematics solutions, ConSite and InSite. The company will also present eDost, its newly developed digital platform designed for real-time connect with customers and other stakeholders for all their needs, from products, services, attachments, and even industry-related information.

Speaking at the occasion, Mr. Sandeep Singh, Managing Director, Tata Hitachi said, “Our people, processes and products, are deeply rooted in our customer-centric philosophy. It is this ethos that has enabled us to build one of India’s largest customer-facing networks in the excavator segment. In the recent years we have also bolstered our portfolio with Backhoe Loaders and Wheel Loaders to enable us to better service the customer as a one-stop solution provider. Excon gives us the opportunity to showcase these strengths to our customer, policy makers and other visitors. It also gives us an opportunity to reinforce our avowed commitment towards the larger goal of nation building.”

“Infrastructure Is The Key To Boost Indian Economy”: Bommai At EXCON

* "Government of India to invest more than INR 100 lakh crores over the next five years on infrastructure": Gen V K Singh

The infrastructure sector is receiving an intense push from the Government, propelling India’s overall development and GDP. The new policies announced by the Government of India would ensure the time-bound creation of world-class infrastructure in the country, making it India’s new identity globally,” said Shri. Basavaraj Bommai, Chief Minister, Government of Karnataka.

Delivering his inaugural address at the 11th edition of CII EXCON, South Asia’s largest construction equipment trade fair organised by the Confederation of Indian Industry (CII) here today, Basavaraj said that the construction sector will have a major contribution to Prime Minister's vision to make India a USD 5 trillion economy. To achieve this goal, the government is embarking on major infrastructure and industrial projects worth Rs 100 lakh crores. “Though our major focus should be growing exponentially in the country by advancing our technologies, inclusion of people at the bottom of the pyramid is also critical since they are the movers of the economy. We urge the industries to collaborate with them to further enable the CE sector,” he said.

The Minister mentioned that the state presents huge business opportunities for the construction industry, as it is embarking on major infrastructure development projects in roads & flyovers, industrial infrastructure and power.

Participating as the Guest of Honour, General V K Singh, Minister of State for Road Transport & Highways, Government of India, said, “India is an emerging hub for construction equipment, component outsourcing base and design base. The private players in the construction industry must concentrate on automation, adoption of advanced technologies and global best practices, usage of alternate fuels, and innovations in using waste materials as raw materials for their construction projects to diminish the cost of construction and rate of pollution.”

"Infrastructure must be sustainable and the industry should take measures to enhance the quality at an affordable life cycle cost. India is working hard on hydrogen fuel technology and solar energy since we consider it as the future of the country. The CE industry must be prepared for the competitive market situation and focus on Industry 4.0 for revamping itself,” V K Singh added.

Mr Deepak Shetty, Chairman of CII EXCON, said that “This is the eleventh edition of the EXCON and our theme this year is Building India for a New World: Competitiveness, Growth, Sustainability, Technology. India must become less dependent on imports to build large scale infrastructure projects, roads, ports, etc. Hence, developing and embracing technologies is crucial so that we can expand our innovations and become an export hub globally. The three key strategies that will help us to fast-track developments are - focusing on new growth drivers, understanding the significance of rural economy and curate a roadmap for alternate fuels.”

The role of smart technologies and innovation in India's infrastructure development is paramount in achieving the vision of making India the global hub for construction equipment manufacturing. As a result, there is a need for rapid investments across infrastructure for sustainable development in the country.

While proposing the vote of thanks, Mr Dimitrov Krishnan, Co-chairman of EXCON, said “Indian CE industry, being the 3rd largest market in the world, has shown remarkable progress over the years. We aim to become the 2nd largest CE market in the world. EXCON will reflect on the theme elements at the exhibition and set the pace for Atmanirbhar Bharat in infrastructure development in the country.”

During the inaugural session, dignitaries at EXCON presented the “Women Building India Awards" to recognize the inclusion of women in the infrastructure industry. Women champions from Cummins India Ltd, Volvo CE India Pvt. Ltd, Schwing Stetter India Pvt. Ltd, and L&T Constructions & Mining Machinery were recognized for their efforts towards the same.

Indian Construction Equipment Manufacturers' Association is the Sector Partner and the National Highways Authority of India and Builders Association of India are supporting Partners for EXCON. The event spreads over 3,00,000 square meters of display area and attracted over 800 exhibitors from India & abroad including countries like Belgium, Czech Republic, France, Germany, Italy, South Korea, Spain, Sri Lanka, UAE, UK & USA.