Syrma SGS Technology IPO Subscribed 92% On Day 2; The Retail Segment Booked 1.56 Times

The Initial Public Offering (IPO) of Syrma SGS Technology, one of the fastest growing Indian headquartered providers of electronic design and manufacturing services for global & domestic Original Design and equipment manufacturers (ODMs and OEMs), received bids of 2,62,69,148 shares against the offered 2,85,63,816 equity shares, at a price band of Rs 209-220, according to the data available on the stock exchanges. Overall the issue was subscribed up to 92% on the Second day of bidding.

The Retail Investors portion was subscribed 1,56 times. The reserved portion of non-institutional investors witnessed a subscription of 0.74 times. The issue kicked off for subscription on Friday, August 12, and will be open till Thursday, August 18.

The IPO consists of a fresh issue of equity shares aggregating to Rs 766 crore and an offer for sale (OFS) of up to 3,369,360 equity shares.

Syrma SGS Technology Limited raised Rs 252 crore from anchor investors yesterday ahead of its initial share sale. The company aims to raise Rs 840 crore through its IPO.

KR Choksey, Canara Bank Securities, and Hem Securities have given recommendations for a Subscribe rating to the issue.

According to brokerages, expanding the scope of the EMS sector, combined with the company's diverse product portfolio, is ideal for capitalizing on the company's growth opportunity. It has grown at a CAGR of 20.8% between FY20 and FY22, owing to strong demand traction across the industries it serves and a focus on innovation.

The company is diverse, with a constantly evolving and expanding product portfolio and service offerings catering to customers in a variety of industries, and is supported by strong R&D capabilities. Furthermore, the company has established relationships with marquee customers from various countries, as well as cutting-edge manufacturing capabilities backed by a global supplier network, with a focus on vertical integration.

Dam Capital Advisors Limited, ICICI Securities Limited, and IIFL Securities Limited are the book running lead managers to the issue, and Link Intime India Private Limited is the registrar of the Issue.

Company Information

Promoted and led by Sandeep Tandon and Jasbir Singh Gujral, Syrma SGS, is a technology-focused engineering and design company engaged in turnkey electronics manufacturing services (“EMS”) that specializes in precision manufacturing.

Aura Air Is Now Available Pan-India On The Amazon Online Website

* Aura Air air-Purifiers, clinically certified for their effectiveness against the SARS-CoV-2  and Influenza A virus is now available pan India via Amazon

Aura Air, a publicly listed company with the Tel-Aviv Stock Exchange (TASE), is now made their products available on Amazon India for individuals to buy the home variant of Aura Air and Aura Air Mini. Aura Air air-purifiers detect, capture, and kill 99.9% of viruses, bacteria, mold and can remove airborne particles as small as 0.3 microns, including allergens and viruses. These IoT-enabled devices connect to a mobile phone and deliver real-time updates on the overall indoor and outdoor Air Quality Index (AQI) based on VOC (Volatile Organic Compounds), CO2 (Carbon Dioxide), CO (Carbon Monoxide), and fine particulate matter levels.

Aura Air purifiers have successfully cleared clinical trials confirming their effectiveness against the Corona virus in multiple studies conducted at Sheba Medical Center & Innovate Bioanalysis Lab, California and the results have been published in the world Journal of Surgery and Surgical Research. Aura Air is also in the process of getting an FDA (Food and Drug Administration), USA approval. More recently a study done using Aura Air Devices on Influenza A was also published citing an efficacy of 99.998%.

The flagship product of Aura Air that can be placed in spaces upto 600 SQFT rooms, offices, theatres and pretty much any indoor space is priced at ?37,500+GST. Aura for Business (Enterprise solution) is available from a starting price of ?48,500+GST. Aura Mini is available for ?13,000.

Aura Air is currently sold in 87 countries and used by marquee brands including the Sheraton, Hilton, CBRE, Subway, Coca-cola, and Audi among others. The Indian Air Purifier Market stood at over $85 million in FY21 and is projected to cross over $500 million by FY27.

“We can control what we eat and drink, but breathing is constant and indoor air is 5 times more polluted than outdoor air, we all have the right to breathe clean air while we are indoors where we spend over 90% of our time. Aura Air devices have been extremely successful in filtering the COVID-19 virus along with PM 2.5, PM 10 and this is validated in India by NABL accredited laboratories. With the sudden increase in number of air-borne infections, we decided to enlist our devices on Amazon so that it is easily accessible to all. Now with offices, theatres and other public spaces at full capacity, individuals will be able to purchase their Aura Air devices at the click of a button!” said Bharadwaj PV, Managing Director of Aura Air India

Founded in 2018 by Eldar Shnaiderman and Aviad Shnaiderman, Aura Air products use Patent Pending technology and are IOT based smart devices that can be integrated with Alexa and Google Assistant.

The Aura Air device helps to monitor indoor and outdoor air quality in real-time through its inbuilt sensors. The smart device filters and disinfects air through four stages:

Pre-filter: Filtering the big particles like dust, pollen, animal hair

HEPA Ray filter®: The patent pending ray filter consists of 3 unique antibacterial layers

Sterionizer: Creating pure air with patented technology

UVC: Kills bacteria, viruses, and parasites 

ACC Launches #BuildingIndia Campaign Commemorating India’s 75 Years Of Independence

* Campaign helps citizens relive company’s contribution to some of India’s most iconic structures built since 1936.

* Launched a series of byte-sized short films on the occasion of Azadi Ka Amrit Mahotsav.

Over 8 decades separate, the dates of commissioning of the Marine Drive in Mumbai  and the Durgam Cheruvu Bridge in Hyderabad, ranked among the country’s iconic and picture-perfect landmarks today, but one factor unites the two – ACC, India’s 1st cement maker with nation building in its veins and sustainability and innovation as its central ethos.

These two landmark structures are just among the many that ACC has been involved in building. Started in 1936, ACC  has served India’s infrastructure with its products being the backbone of a large number of India’s most visible and prominent landmarks. And on the occasion of India’s 75 years of Independence Day celebrations, the company launched a campaign, #BuildingIndia for the citizens to relive those iconic architectural wonders that have been built with ACC’s products - wonders built as early as 1936 to many wonders of today. The company released a series of byte-sized short films on the occasion celebrating ACC’s contribution to nation building .

Just as a great nation builds enduring legacies, ACC celebrates some of the iconic landmarks that the nation has built and are standing the test of time— landmarks that have proudly been built with ACC’s innovative products, expertise and guidance. These landmarks are setting the bar higher for ACC to perform better by the day. They include flyovers, bridges, dams, expressways and more.

Mr. Sridhar Balakrishnan, MD & CEO, ACC Ltd., said: “ACC’s decades-old culture is being directly involved in nation building and set up structures that define and enable India’s progress. As a responsible corporate, we will continue #BuildingIndia for a long-lasting future, with passion in our hearts and innovation in our veins.”

The company, one of India’s leading makers of ready-mix concrete and green cement, is at the heart of iconic landmarks—be it the Bhakra Nangal Dam that was built in 1960, to the Mumbai-Pune Expressway. Thus for over 80 years, ACC has not only been synonymous with cement, it has also established its reputation as a pioneer organisation that consistently sets new benchmarks in research and innovative product development.

About ACC:

ACC Limited is one of India’s leading producers of cement and ready-mix concrete and is a part of the Holcim Group. It has over 6,400 employees, 17 cement manufacturing sites, 80 concrete plants and a nationwide network of over 50,000 channel partners to serve its customers. With a world-class R&D centre in Mumbai, the quality of ACC’s products and services, as well as its commitment to technological development, make it a preferred brand in building materials. ACC was ranked among the Top 2 companies in Business Today's "Best Companies To Work For" Survey in the Construction and Infrastructure sector. Established in 1936, ACC is counted among the country’s 'Most Sustainable Companies' and is recognised for its best practices in environment management and corporate citizenship. With sustainability at the core of its strategy, ACC is the first Indian Cement Company to sign the Net Zero Pledge with Science Based Targets.

DCB Remit: Dhamakedar Festive Offer Send Money Abroad At A Competitive Rate

·         Resident Indians can transfer funds in six currencies to over 20 countries

using DCB Remit & receive up to 15 paise off per rupee

·         Transfer limit: US$100,000 for DCB Bank customers; US$25,000 for non-DCB Bank customers

DCB Bank will help customers gift their siblings abroad a little extra with a special offer to transfer funds before 31st August 2022 and receive up to 15 paise off per Rupee.

Resident Indians can use DCB Remit online service to send money via net banking to the designated countries from any bank account in India. Any citizen can seamlessly transfer funds to any person who may have travelled abroad for business or leisure. DCB Remit makes money transfers quicker, secure, transparent and cost-efficient too.

For remittances of 3,000 to 10,000 in foreign currency, a DCB Remit user can use Code: DCBFEST10. For more than 10,000 in foreign currency, use Code: DCBFEST15. Funds can be transferred in six currencies – US$, AUS$, GBP, SGD, CAD and the Euro.

The DCB Remit service can be availed of by registering and transferring up to US$100,000 for DCB Bank customers and US$25,000 for non-DCB Bank customers in each financial year.

Resident Indians can avail the services of DCB Remit without maintaining an account with DCB Bank. They only need to complete the one-time registration and send money abroad through DCB Remit. Simply log on to www.dcbremit.com to send money to an overseas bank account. After adding the beneficiary details and instructions to transfer funds in Indian rupees, DCB Bank will convert the amount into the required foreign currency and credit it to the beneficiary’s overseas account.

The money transfer can be tracked in real-time and even stopped while in process in the event of an unforeseen situation.

About DCB Bank

DCB Bank is a new generation private sector bank with 405 branches (as on 30th June 2022) across India. A scheduled commercial bank regulated by the Reserve Bank of India, it is professionally managed and governed. DCB Bank has contemporary technology and infrastructure, including state-of-the-art internet banking for personal as well as business banking customers. DCB Bank’s business segments comprise Retail, micro-SME, SME, mid-Corporate, Agriculture, Commodities, Government, Public Sector, Indian Banks, Co-operative Banks and Non-Banking Finance Companies (NBFCs). DCB Bank has approximately one million customers.

Emirates To Offer Signature A380 Service On Flights To Bengaluru From October 30, 2022

* Emirates to be the first airline to operate the iconic A380 to Bengaluru’s Kempegowda International Airport 

* Flagship A380 service to be introduced as a daily service and allows customers travelling to and from the South Indian city to enjoy the much-loved signature experience

* Bengaluru to join Emirates’ network of over 30 destinations served by the double-decker aircraft

Emirates announces that its flagship A380 service will be introduced for the first time to Bengaluru from 30 October to serve its customers on the busy route. Emirates also becomes the first airline to operate scheduled passenger services utilising the A380, the world’s largest commercial aircraft in service, at Bengaluru’s Kempegowda International Airport. 

The aircraft upgrade will allow customers travelling to and from the South Indian city to enjoy its signature services across a broader network. Bengaluru will be the second city in India to be served by the iconic Emirates A380 aircraft, with customers enjoying the signature experience on the Dubai – Mumbai route since 2014. 

The daily A380 flights will operate as EK568/569 with an aircraft in a three-class configuration, offering seats in Economy Class, in addition to premium cabins, in Business Class and First Class. The deployment of the double-decker aircraft will complement its existing services, EK564/565 and EK566/567, each also operating on a daily basis with modern wide-body Boeing 777 aircraft. Flights EK564/565 will operate using a mix of Boeing 777-200LR and Boeing 777-300ER aircraft while EK566/567 will offer seats in First Class, Business Class and Economy Class aboard a Boeing 777-300ER aircraft. 

Emirates has been deploying its flagship A380 aircraft to an expanded list of destinations to meet high customer demand on routes popular amongst global travellers, boosting capacity on a single flight by up to 45 percent more than the Boeing 777 aircraft. Destinations served by the Emirates A380 aircraft currently stand at over 30 airports across six continents for August, with a total of over 130 destinations in the airline’s worldwide network. 

The Emirates A380 experience has remained a long-time favourite amongst travel enthusiasts, loved for its extra legroom and comfort and the industry’s largest screens for customers across all cabins to enjoy the airline’s extensive selection of content on its award-winning in-flight entertainment system, ice. Customers travelling in premium cabins continue to return again and again when making travel plans, for its signature features such as the popular Onboard Lounge and fully flat seats in Business Class, as well as private suites and Shower Spas in First Class. 

Emirates started operations to India in 1985 with its scheduled services to Mumbai and Delhi and has been serving customers in Bengaluru with its award-winning services since 2006. Emirates provides access to nine points in India, with customers enjoying seamless connectivity to its global network. 

Tickets can be purchased on emirates.com, Emirates Sales Offices, via travel agents or through online travel agents.

About Emirates

Emirates’ 36 years in India have been defined by progressive investment, partnership and growth. In October 1985, Emirates launched flights from Dubai to Delhi and Mumbai which formed the base of its initial route network. Since then, Emirates has grown its India operations to serve a total of nine destinations across India – Ahmedabad, Bengaluru, Chennai, Delhi, Hyderabad, Kochi, Kolkata, Mumbai, and Thiruvananthapuram. For more information on Emirates’ current operations, network, travel support, guidance, customer and employee safety, visit www.emirates.com

ManipalCigna Health Insurance Launches ‘‘ManipalCigna Sahi Cover, Discover” Calculator To Help Choose The Right Health Insurance

ManipalCigna Health Insurance Company Limited, today announced the launch of ‘ManipalCigna Sahi Cover, Discover, a uniquely designed online calculator which is tailored to help people choose the right health insurance coverage for their needs.

ManipalCigna Sahi Cover, Discover, is an industry-first tailored calculator that can be accessed 24x7 anytime from anywhere and will assist customers in determining the appropriate level of health coverage. It is a highly innovative, online and time-saving product that allows users to determine the best health insurance plan for themselves and their families. One can also have their current health insurance coverage evaluated to see if it meets their healthcare financing needs or if they require additional coverage. Once the calculation is complete, the user also receives helpful health insurance plan recommendations that are in line with one’s coverage and requirements.

Speaking about the launch, Sapna Desai, Head of Marketing and Ecommerce, ManipalCigna Health Insurance Company Limited said, “We at ManipalCigna conducted an internal research with consumers which revealed that people are sometimes unable to determine the right amount of coverage for their health insurance. They fail to factor in variables like their location, family history, lifestyle, and current medical needs. It has also been observed that people often don’t understand the details of the amount they pay for coverage, and the lack of knowledge or accessibility to the right tools is to blame for this gap. As a result most people opt for health insurance plans that seem convenient because of low premiums and end up being under-insured. With our newly launched ‘ManipalCigna Sahi Cover, Discover’ customers now can put in all the relevant details that can impact health insurance to find the right health insurance plan and the right coverage amount for themselves and their families.”

The ManipalCigna Sahi Cover, Discover is truly a pioneering and revolutionary calculator that help users get a better understanding of the existing coverage they have paid for as well as about new health insurance policies. There are various benefits of ‘ManipalCigna Sahi Cover, Discover’ calculator including the following:

* You may not always be sure of the suitable health insurance coverage that you require. Using ManipalCigna Sahi Cover, Discover Calculator will help you calculate the right amount of coverage that you require.

* The calculator takes all aspects of your current lifestyle and circumstances into account before the final calculation.

* From your health habits, exercise frequency, smoking/drinking habits and your age to your family history and location, everything is analyzed before suggesting the right coverage amount.

* Get access to recommended healthcare insurance products in order to meet the coverage gap.

* Helps you decide whether you require full coverage health insurance plans or any add-ons for instance. You get more information and confidence with regard to choosing the right insurance plan.

*  Get an idea of the costs of suitable healthcare coverage.

* Learn about the ideal coverage at any stage and juncture in life and make sure that you are secured accordingly.

A health insurance coverage calculator is highly necessary for several reasons. Firstly, we often end up neglecting the actual amount of health coverage we need, even with growing families and changing treatment or future healthcare needs. Secondly, we do not have the right tool to estimate this actual coverage that we require. Thirdly, we do not always know how to fill up the coverage gap and ensure that we stay protected at all times. The coverage calculator caters to all these pressing requirements at your end. You can find out your desired health insurance coverage with a few clicks anywhere and anytime as per your convenience. To explore ManipalCigna Sahi Cover, Discover Calculator visit, https://www.manipalcigna.com/coverage-calculator

About ManipalCigna Health Insurance Company Limited

ManipalCigna Health Insurance Company Limited is a joint venture between Manipal Group, an eminent player in the field of healthcare delivery and higher education in India, Cigna Corporation, a global health services company with over 200 years of experience. ManipalCigna is headquartered out of Mumbai and has 76 branch offices covering major metros and towns. The company has built a strong multi-distribution network of over 48,000 agents and 500+ distribution partners across the country. ManipalCigna also has tie-ups with 13 leading Banks for distributing health insurance solutions and has a network of over 7500 hospitals across cities including tier I, tier II and tier III towns in India. To learn more, visit www.manipalcigna.com

Bank of Baroda Launches “Baroda Tiranga Deposits” In Indian Market

* A special Domestic Retail Term Deposit scheme offering attractive interest rates of 5.75% p.a. for 444 days and 6.00% p.a. for 555 days  

* Senior Citizens get additional interest rate of 0.50% p.a. 

* 0.15% extra for Non-Callable Deposits 

Bank of Baroda (Bank), one of India’s leading public sector banks announced the launch of the “Baroda Tiranga Deposit Scheme”, a special term deposit product offering higher interest rates. The Baroda Tiranga Deposits are available in two tenor buckets– offering interest rates of 5.75% p.a. for 444 days and 6.00% p.a. for 555 days. The scheme opens on 16th August up till 31st December, 2022 and is applicable on retail deposits below Rs 2 crore. 

Further, senior citizens will earn an additional interest rate of 0.50% p.a., while Non-Callable Deposits will get 0.15% p.a. extra.  

Shri Ajay K. Khurana, Executive Director, Bank of Baroda said, “As India marks 75 years of independence, we are delighted to give consumers one more reason to celebrate. The Baroda Tiranga Deposit Scheme offers a higher rate of interest and the flexibility to choose from two tenures, backed by one of India’s leading and most trusted banks.” 

Bank of Baroda customers can use bob World to open an online FD through Mobile.  

About Bank of Baroda 

Founded on 20th July, 1908 by Sir Maharaja Sayajirao Gaekwad III, Bank of Baroda is one of the leading commercial banks in India. At 63.97% stake, it is majorly owned by the Government of India. The Bank serves its global customer base of over 150 million through over 46,000 touchpoints spread across 17 countries in five continents. Through Its state-of-the-art digital banking platforms, it provides all banking products and services in a seamless and hassle-free manner. The recently launched bob World mobile app provides customers with a saving, investing, borrowing, and shopping experience, all under one single app. The app also serves non-customers by enabling account opening through video KYC. The Bank’s vision matches its diverse clientele base and instills a sense of trust and security. It is moving well in that direction and bob World is a testimony of its roadmap towards Digital Transformation.