Bank of Baroda Inaugurates 6th Edition Of “Baroda Kisan Pakhwada” – An Annual Outreach Programme For Indian Farmers

* Through Baroda Kisan Pakhwada, the Bank engages with farmers and creates awareness of various agri initiatives taken by the Bank as well as agri products & schemes offered  

* The Bank aims to reach out to 4 lakh farmers during the Baroda Kisan Pakhwada programme 

Bank of Baroda (Bank), one of India’s leading public sector banks, announced the launch of the 6th edition of “Baroda Kisan Pakhwada”, the Bank’s annual, fortnight long engagement programme focused on the Indian agrarian economy. The farmer engagement programme commences on November 16, 2023, and will conclude on November 30, 2023, with the Baroda Kisan Diwas celebrations. During the two-week long agri festival, the Bank’s semi-urban, rural and select metro and urban branches across the country will actively participate. The Bank is targeting to reach 4 lakh farmers during the course of the Baroda Kisan Pakhwada through a number of outreach events. 

During the fortnight, the Bank will reach out to farmers and create awareness about various initiatives such as the Kisan Credit Card drive in the name of "Ghar-Ghar KCC Abhiyaan" as well as create awareness on agri products, schemes/offers and delivery channels offered by Bank of Baroda for the benefit of the farming community. The event will also help to promote various Atmanirbhar Bharat schemes introduced by the Government of India such as the Agriculture Infrastructure Fund (AIF), Animal Husbandry Infrastructure Development Fund (AHIDF), Pradhan Mantri Matsya Sampada Yojana (PMMSY), PM Formalisation of Micro Food Processing Enterprises Scheme (PM-FME), etc.  

The Bank will organise farmer meetings, choupals, kisan melas and health camps (for the soil, animals and farmers) during the fortnight and will also use this occasion to promote awareness on financial literacy and cyber frauds to participants.  

Speaking on the occasion, Shri Debadatta Chand, Managing Director & CEO, Bank of Baroda said, “The Baroda Kisan Pakhwada is a one-of-its-kind farmer engagement and outreach programme in the Indian banking industry. Through this programme, our aim is to acknowledge and appreciate the contribution of the agriculture sector to the Indian economy and help them grow by offering them a range of agri-specific lending products as well as other banking products & services. Bank of Baroda has a rich legacy of serving its agri customers and the Baroda Kisan Pakhwada is one such initiative aimed at strengthening this bond.” 

During the Baroda Kisan Pakhwada held in 2022, a total of 20,152 outreach programmes like Farmer Meetings, Choupals, Kisan Melas, Health Camps (Soil, Animal, Farmer) etc were organised and the Bank connected with 3,87,179 farmers during this period.  

Bank of Baroda’s lending to the agriculture sector stands at Rs 1,30,694 crore as on September 30, 2023, recording a 13.7% year-on-year growth.  

To apply for an agri loan from Bank of Baroda, customers can visit – https://bit.ly/AGRILoans   

Legends League Cricket All Set To Start Its First Leg In Ranchi Tomorrow

* Munaf Patel, Pravin Tambe and Hashim Amla along with Andrew Leipus and Raman Raheja unveiled the trophy of the Legends League Cricket 

The cricketing world is set to witness a grand reunion as legendary cricketers, Munaf Patel, Pravin Tambe, and Hashim Amla along with Andrew Leipus and Raman Raheja took center stage to kickstart the highly anticipated season of Legends League Cricket (LLC) on Saturday at the JSCA Stadium in Ranchi. The league will see Bhilwara Kings and India Capitals, led by Irfan Pathan, clash against the other, promising fans a nostalgic journey and a spectacular display of cricketing prowess. 

Speaking on the eve of tournament, former Indian cricketer Munaf Patel said, "Legends League Cricket is one of the biggest leagues of the country. And talking about starting the league in Ranchi, only one name comes to mind, my captain, M.S. Dhoni. The stadium that also has his name on the pavilion, is definitely one of the best stadiums in the country. "

Talking about India clash with Australia, he further added that “we are really excited and looking forward for India’s win in the finals of ICC World Cup.”

The Legends League Cricket, a six-team tournament will be played across five cities in India - Ranchi, Dehradun, Jammu, Vizag, and Surat and is scheduled to run from November 18 to December 9, 2023. The much-anticipated season will commence with a thrilling rematch between Bhilwara Kings and India Capitals on Saturday, a repeat of last season's final where India Capitals emerged victorious, lifting the coveted trophy.

Bhilwara Kings boast a potent lineup comprising cricketing stalwarts and emerging talents. The explosive batting duo of Irfan and Yusuf Pathan, combined with the strategic prowess of Shane Watson, adds a dynamic edge to the team. The bowling attack, featuring the likes of Ryan Sidebottom and Iqbal Abdulla, promises to keep opponents on their toes. 

The India Capitals present a formidable combination of seasoned campaigners and rising stars. The team's bowling arsenal is strengthened by the presence of   Pravin Tambe, the dynamic Ashley Nurse, and the experienced Fidel Edwards. 

Star spinner Pravin Tambe said, "Legends League Cricket is a platform to relive the joy and passion for cricket. India Capitals is a team filled with talent, and I am honored to be part of this journey."

Raman Raheja, CEO and Co-founder, Legends League Cricket said, “We are hoping for an exciting and scintillating season starting from November 18. We would like to take the opportunity to thank our fans for the huge response and are looking forward to packed stadiums for all the matches. The matches will be reminiscent of cricketing talent that the entire country has loved over the years.” 

19 matches will be played across 22 days in what promises to be a mouth-watering tournament. After Ranchi, the action will shift to Dehradun on November 24, with the Bhilwara Kings clashing with the Gujarat Giants in what will be the sixth match of the season.

Six teams; India Capitals, Bhilwara Kings, Gujarat Giants, Manipal Tigers, Southern Super Stars, and Urbanrisers Hyderabad will be fighting their way to the coveted trophy.

Bowring Institute ITF World Women's Tour begins today; Sharmada, Suhita given wildcards

The Bowring Institute, which is renowned for its history tracing more than a century ago, is all set to continue its legacy when it hosts the Bowring Institute ITF World Women's Tour which kicks off with the first qualifying round on Sunday.

Players from as many as ten countries including hosts India will be seen in action at the spruced-up clay courts of Bowring Institute in the event which boasts of a total prize purse of US $25,000.  

“We are thrilled to host the Bowring Institute ITF World Women's Tour and welcome players from across the world to showcase their talent on our courts. This tournament adds another chapter to our tennis legacy, said Bhaskar, Vice President, Bowring Institute.

Sunil Yajaman, Tournament Director and Hon. Jt. Secretary of the Karnataka State Lawn Tennis Association (KSLTA) said: "We sincerely thank Bowring Institute for taking up the responsibility to host the ITF Women’s 25,000 prize money event and we are extremely happy that Bowring Institute, which has a rich tennis history, is again back on the Global Tennis Map. I thank the Hon. Secy Mr.  HS Srikanth and the entire team who have made some amazing arrangements for the players.”

Emphasizing on the significance of hosting international events in the country and especially Karnataka, Yajaman said: “We have taken a conscious decision to activate the various districts in Karnataka which will not only put them on the world tennis map but give our players an opportunity to earn valuable ATP points. We are proud to say that we are hosting six ITF events and one ATP Challenger event in a span of just five months.”

As many as six Indians – Rutuja Bhosale, Vaidehi Chaudhari, Pranjala Yadlapalli, Zeel Desai, Shrivalli Rashmikaa Bhamidipaty, and Humera Baharmus – are a part of the 20 players who have earned a direct entry in the main draw of 32. The rest of the 12 spots will be filled up by eight qualifiers and four wild cards.

Karnataka’s top player Sharmada Balu and the promising Suhitha Maruri have been given wildcards along with Anjali Rathi and Sahira Singh. The wildcards for the qualifying include Vidhyalakshmi S, Sai Janvi, Sanjitha Ramesh (all Karnataka), Lakshmi Prabha and Sejal Gopal Bhutada.  

LN Ajay Singh, Director Sales and Marketing, Advait Hyundai who was one of the guests of honour said: "The Bowring Institute holds a special place in the hearts of sports enthusiasts. As the presenting sponsor, Advait Hyundai is honoured to be associated with an event that continues the rich legacy of this iconic institution."

The Bowring Institute has long been a bastion of tennis tradition, having witnessed thrilling matches and iconic moments on its courts with players like Ramanathan Krishnan, Joydeep Mukherjea, former World No.1 Ilie Nastase and former singles top-10 tennis player Ion Tiriac (who became so rich that he opened a bank), amongst others treading the soils of Bowring Institute.

With a competitive field comprising some of the best players, the tennis buffs are in for a feast of high-quality tennis action.

Photo Caption: From left: Dharaka Ellawala, ITF Supervisor, Sharmada Balu, Bhaskar, Vice President, Bowring Institute, Sunil Yajaman, Tournament Director and Hon. Jt. Secy, KSLTA, Suresh Rao, Tennis Member In-charge, Bowring Institute and LN Ajay Singh, Director Sales and Marketing, Advait Hyundai during the press conference of the Bowring Institute ITF World Women's Tour on Saturday.

Fedbank Financial Services Limited IPO To Open On Wednesday, November 22, 2023

·         Price Band fixed at Rs  133 to Rs  140 per Equity Share of face value of Rs  10 each (“Equity Share”) Employee discount of Rs 10 per Equity Share;

·         The Floor Price is 13.30 times and the Cap Price is 14.00 times the face value of the Equity Shares;

·         Bid/ Offer will open on Wednesday, November 22, 2023 and close on Friday, November, 24, 2023. The Anchor Investor Bidding Date shall be Tuesday, November 21, 2023;

·       Bids can be made for a minimum of 107 Equity Shares and in multiples of 107 Equity Shares thereafter;

·       RHP Link:

https://www.icicisecurities.com/Upload/ArticleAttachments/Fedbank%20Financial%20Services%20Limited%20-%20RHP.pdf

Fedbank Financial Services Limited (The “Company”), shall open its initial public offering of Equity Shares on Wednesday, November 22, 2023. The initial public offering comprises of a fresh issue of Equity Shares aggregating up to ? 600 crore (“Fresh Issue”) and an offer for sale up to 35,161,723 Equity Shares by selling shareholders (the “Offer for Sale” and together with the Fresh Issue, the “Offer”).

 The Anchor Investor Bidding Date shall be Tuesday, November 21 2023.  The Offer will open on Wednesday, November 22, 2023 for subscription and will close on Friday, November 24, 2023.

 The Price Band of the Offer has been fixed at Rs  133 to Rs  140 per Equity Share. Bids can be made for a minimum of 107 Equity Shares and in multiples of 107 Equity Shares thereafter. The offer include reservation of upto Rs  10 crore for Employees at a discount of Rs  10 per equity share.

 The Company proposes to utilize the Net Proceeds from the Fresh Issue towards augmenting Company’s Tier – I capital base to meet Company’s future capital requirements, arising out of the growth of its business and assets. Further, a portion of the proceeds from the Fresh Issue will be used towards meeting Offer Expenses.

 The Offer for Sale comprises of up to 5,474,670 Equity Shares by The Federal Bank Limited (“The Promoter”) and up to 29,687,053 True North Fund VI LLP (“The Investor Selling Shareholder”)

The Equity Shares offered through this Red Herring Prospectus are proposed to be listed on the Stock Exchanges being BSE Limited (“BSE”) and National Stock   Exchange of India Limited (“NSE”). For the purposes of the Offer, the Designated Stock Exchange shall be National Stock Exchange of India Limited.

The Offer includes a reservation aggregating up to Rs  10 crore for subscription by Eligible Employee (The “Employee Reservation Portion”) and a discount of up to Rs 10 per shares of the offer price to eligible employee bidding in the employee reservation portion. (“Employee Discount”)

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 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 available for allocation on a proportionate basis to Qualified Institutional Buyers (“QIBs”) (“QIB Portion”), provided that our Company and the Selling Shareholders may, in consultation with the BRLMs, allocate up to 60% of the QIB Portion to Anchor Investors on a discretionary basis in accordance with the SEBI ICDR Regulations (“Anchor Investor Portion”), of which one-third shall be reserved for domestic Mutual Funds, subject to valid Bids being received from domestic Mutual Funds at or above the Anchor Investor Allocation Price. In the event of under-subscription, or non-allocation in the Anchor Investor Portion, the balance Equity Shares shall be added to the Net QIB Portion.

Further, 5% of the Net QIB Portion (excluding the Anchor Investor Portion) shall be available for allocation on a proportionate basis only to Mutual Funds, and the remainder of the Net QIB Portion shall be available for allocation on a proportionate basis to all QIBs, including Mutual Funds, subject to valid Bids being received at or above the Offer Price. However, if the aggregate demand from Mutual Funds is less than 5% of the Net QIB Portion, the balance Equity Shares available for allocation in the Mutual Fund Portion will be added to the remaining QIB Portion for proportionate allocation to QIBs.

Further, not less than 15% of the Offer shall be available for allocation to Non-Institutional Bidders of which (a) one third shall be reserved for applicants with application size of more than Rs 200,000 and up to Rs 1,000,000; and (b) two third shall be reserved for applicants with application size of more than Rs 1,000,000, provided that the unsubscribed portion in either of such sub-categories may be allocated to applicants in the other sub-category of 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 at or above the Offer Price.

Further, Equity Shares will be allocated on a proportionate basis to Eligible Employees applying under the Employee Reservation Portion, subject to valid Bids received from them at or above the Offer Price. All potential Bidders (except Anchor Investors) are required to mandatorily utilise the Application Supported by Blocked Amount (“ASBA”) process providing details of their respective ASBA accounts, and UPI ID in case of UPI Bidders (defined hereinafter), in which the corresponding Bid Amounts will be blocked by the SCSBs to participate in the Offer. Anchor Investors are not permitted to participate in the Offer through the ASBA process. Further, Equity Shares will be allocated on a proportionate basis to Eligible Employees applying under the Employee Reservation Portion, subject to valid Bids received from them at or above the Offer Price. For details, see “Offer Procedure” on page 465.

ICICI Securities Limited, BNP Paribas, Equirus Capital Private Limited and JM Financial Limited are the Book Running Lead Managers to the Issue.

All capitalised terms used herein but not defined shall have the same meaning as ascribed to them in the RHP.

Provident Launches Deansgate: Manchester Townhouse-Style Residences In Bengaluru

Provident Housing Limited, a leading name in large-scale community development in India, announced the launch of its latest project, Provident Deansgate. Located at IVC Road in Bengaluru, this exclusive development redefines luxury living, seamlessly blending the charm of Manchester townhouse-style architecture with contemporary design.

Sprawling over 15 acres of land, Deansgate offers 288 meticulously designed townhouses, each a masterpiece of architectural finesse. The development features two distinctive configurations of 3 BHK: the Garden Townhouses, spanning 1,900–1,950 sq. ft., and the Terrace Townhouses, ranging from 2,100–2,200 sq. ft.

Mallanna Sasalu, CEO of Provident Housing Limited, said, “Deansgate embodies our dedication to creating spaces that not only exude thoughtful luxury but also prioritise sustainability and customer delight. By incorporating unique design aesthetics, innovation, and technology into this project, we aim to elevate our customers' lifestyles with homes designed for more.”

“This project lays emphasis on open floor plans and a seamless blend of both indoor and outdoor living.

Large windows and glass doors are incorporated into the design to bring in natural light and create a sense of spaciousness. The use of expansive terraces and garden spaces further blurs the boundaries, facilitating a seamless transition between living spaces, much like the Manchester townhouses that we have drawn inspiration from,” he further added.

The redbrick facade, distinguished clock tower, vintage-themed lampposts, English sculptures, Victorian way-finders, picket fencing, and a distinctive chimney feature as the lift shaft exterior facade collectively create an ambience of refined aesthetic.

Deansgate offers residents the luxury of over 25 thoughtfully curated amenities, such as a 12,000 sq. ft. clubhouse, multipurpose hall, gymnasium, badminton and squash courts, a bowling alley, a lap and leisure pool, a football court, a multiplay court, an amphitheatre, a children's play area, a nature trail, etc. The project also boasts 4 acres of lush green spaces, adorned with over 1,550+ trees, symbolising a commitment to nature with the unique concept of ‘five trees per family’.

The project perfectly aligns with the preferences of new-age homebuyers, focusing on sustainability. The development incorporates eco-friendly elements such as solar panels, energy-efficient fixtures, water-saving innovations, and a curated selection of indigenous plants and trees. With sustainable community design at its core, Deansgate offers an unparalleled living experience for those seeking a harmonious fusion of classic elegance and modern convenience.

The project is registered under Karnataka RERA – PRM/KA/RERA/1250/303/PR/041123/006373 and is slated for completion in the next three years.

LAN Passive Components Launched by Finolex Cables. Extends Its LAN Portfolio

Finolex Cables, India’s leading manufacturer of electrical and communication cables announced the introduction of “LAN Passive Components” to its existing business of LAN cables. The product range includes patch cords, information outlet, patch card and faceplates. These are especially useful in places like data centres, IT networks, conference rooms and branch office connections with high-density switches. 

Speaking on the launch, Mr. Mahesh Viswanathan, Dy CEO & CFO, Finolex Cables Ltd. said, “We have decades of experience and immaculate track-record in manufacturing telephone cables, JFTC, signal cables, CCTV cables, LAN cables and Fiber Optic Cables (from 6 cores to 576 cores). The company truly understands how to provide better and smarter solutions for our consumers. The number of structured cabling users, including government agencies, educational bodies, telecommunications companies, financial institutions, retailers and social networking services, are growing in tandem with the rising urbanization rate, thus putting additional strain on the current communication infrastructure. Our LAN offerings will deliver a much-needed solution for the structured cabling industry.” 

India is undergoing a digital revolution driven by the rapidly changing business requirements and increased usage of data for decision making. The Indian government aims to develop 100 smart cities, where the internet of things (IoT) will play a pivotal role. At the same time, the need for intelligent buildings is increasing, as more companies are working to make their campuses and facilities world class, while saving costs and responding to the government’s smart building initiative. Due to the growing need for data transmission systems, particularly in metropolitan areas, the number of telecommunication companies have exploded in recent years. Structured cabling offers the critical support for high-performance and unified communication systems; and hence rapid digitization has become a key trend in the structured cabling market for India. 

Mr. Amit Mathur, President – Sales & Marketing said “Our high performing LAN components surpass industry parameters to meet stringent functionality requirements. We believe our Passive systems are the best option for delivering speed consistently, thus, providing Stress Free Smart Solutions for our customers.” 

In India, demand for high bandwidth has risen as internet penetration has increased. Structured cabling enables high bandwidth that is necessary for commercial operations to run smoothly. This ecosystem has evolved at an exponential rate due to its increased data transfer capability, low cost, and flexibility. 

About Finolex Cables Limited (BSE Code: 500144; NSE Code: FINCABLES) 

Finolex Cables is among India’s leading electrical and telecommunication cable companies. It is rapidly transforming from a manufacturer of wires and cables into an electrical products company, by expanding its product portfolio to market products like lighting, water heaters, fans, switches, switchgear, room heaters and electrical conduits. This reinforces its reputation of offering innovative products that cater to the needs of modern households. 

The company started its operation with the manufacture of PVC-insulated electrical cables for the automobile industry. Besides a wide variety of Wires & Cables, the Company is also manufacturing lighting products, electrical wiring accessories, switchgear, fans, and water heaters. The company has manufacturing facilities at Pimpri and Urse in Pune as well as at Goa & Uttarakhand. Finolex Cables is constantly working at introducing innovative technologies and enhancing technical competencies while prioritizing customer requirements, quality, and environmental concerns. 

Union Bank of India Secures 2nd Rank In EASE Reforms

Union Bank of India is ranked 2nd as per the report on EASE Reforms Index for Q1 FY 2023-24 by Indian Banks’ Association (IBA).  

Union Bank of India has been doing well in areas related to enabling various digital and digitally assisted journeys for Customer Convenience, Delivering Excellence in Customer Service with Digital Enablement, Inclusive Near-Home service delivery, Increased adoption of Cloud technologies, Automation and new operating models for Cost and Quality Excellence, Developing People and Enhancing HR operations. 

The performance of Public Sector Banks is measured on four themes under EASE 6.0, in which, Union Bank of India has successfully achieved 1st Rank under the two themes i.e., “Delivering excellence in customer service with digital enablement”, “Developing people and enhancing HR operations” and stood 2nd in two themes i.e. “Digital and analytics- driven business improvement”, “Tech and data enabled capability building. 

Enhanced Access & Service Excellence (EASE) is an initiative by the Department of Financial Services, Ministry of Finance, Government of India’s part of the PSB Reforms Agenda and is currently under its sixth iteration which focuses on “Customer-friendly banking enabled by modern capabilities”.