Monday, December 18, 2023

Muthoot Microfin Limited Raises Rs. 284.99 Crore From 26 Anchor Investors At Upper Price Band Of Rs. 291 Per Equity


·         Price Band fixed at INR 277 to INR 291 per equity share of face value of INR 10 each (“Equity Share”)

·         Bid/ Offer will open on Monday, December 18, 2023 and close on Wednesday, December 20, 2023

·         Bids can be made for a minimum of 51 Equity Shares and in multiples of 51 Equity Shares thereafter

·         Link: https://www.bseindia.com/markets/MarketInfo/DownloadAttach.aspx?id=20231215-42&attachedId=3b7cd417-9229-4ef6-bcf0-e6eb2296ec6c

Muthoot Microfin Limited has allotted 97,93,812 equity shares to 26 anchor investors and raised INR 284.99 crore ahead of company’s proposed IPO at the upper price band of INR 291 per equity share (including share premium of ?281 per equity share) with face value of INR10 per share.

Fifth Edition of “What Matters” Drives Conversations On Climate Change, Sustainability, And Cultural Resilience


* The latest edition of SignDesk’s What Matters featured Mr. Ajay Raghavan, co-founder of the Initiative for Climate Action, Bangalore Creative Circus, and Studio Madhatter, who spoke about ingraining environmental consciousness in societal norms.

In the face of a global crisis marked by climate change and environmental degradation, our society stands at a critical juncture. Extreme shifts in our systems and way of life are underway, necessitating a transformative and holistic response through collaboration and reimagination.

This edition of What Matters marked a significant milestone as the initiative continues its mission to inspire, educate, and catalyze change. The event was conducted on December 14, 2023 and featured a fireside chat between Mr. Ashok Kadsur, co-founder, SignDesk and the multifaceted Mr. Ajay Raghavan, co-founder of Bangalore Creative Circus, the Initiative for Climate Action and Studio Madhatter. A convergence of visionaries, the dialogue unfolded as a testament to the rich exchange of ideas and insights driving the event.

Mr. Raghavan was a leading employment lawyer and senior partner at Trilegal who transitioned from his successful legal career to rise to prominence in environmental activism, creative pursuits, and sustainability initiatives.

During the conversation, he shed light on the serious changes our planet has undergone, attributing them to human actions. He emphasized individual responsibility in combating climate change, encouraging small, everyday changes that, when multiplied, can lead to a transformative impact.

He urged a shift in perspective, highlighting that 'action' doesn't solely rest on external entities; rather, it begins with individual choices. Encouraging a mindset of personal responsibility, he emphasized the cumulative impact of small, everyday changes individuals can make in their homes and workplaces and these seemingly modest efforts, when multiplied across many people, have the potential to drive a massive transformation toward a more sustainable future.

He spoke about the dual approach needed for climate action, comprising mitigation and adaptation. Mitigation involves reducing our individual impact, such as minimizing carbon footprints. However, he stressed that adaptation is equally crucial, especially in regions like India with a significant vulnerable population. While individuals may not control global outcomes, he encouraged taking local action. Each citizen has the power to influence and protect the environment at the local level, fostering a ripple effect that can contribute to global change.

When Mr. Raghavan initiated the Bangalore Creative Circus, the focus was on fostering collaboration to address complex challenges. Recognizing that no single individual can solve these problems alone, he emphasized the essential role of trust in collaboration. According to him, building camaraderie and a common purpose are crucial in establishing trust within a community. He highlighted that when people see the value of collaboration—realizing that working together yields greater benefits than individual efforts—it becomes the catalyst for effective collaboration.

Discussing work-life balance, he emphasized the importance of having a life beyond work, whether through friendships or personal passions. Maintaining different interests contributes to entering the workplace with a positive mindset. He underscored the counterproductivity of excessive stress, advocating for a healthy balance. He recommended the value of disconnecting from work and reconnecting with nature as a means to unwind and gain a fresh perspective on life.

In managing stress, he highlighted the significance of a robust support system comprising friends and family. “Cultivating habits and friendships becomes essential, providing crucial support. Encouraging diverse passions like travel, sports, and art, he noted their motivational impact in achieving a balanced and fulfilling life” he said.

When discussing his definition of 'culture,' he highlighted the enthusiasm and support for sustainability in Bangalore, which drives the vibrancy at Bangalore Creative Circus. He introduced the concept of permaculture, emphasizing the importance of a permanent culture, evolving into what they now term 'regenerative culture.' This culture, he explained, fosters appreciation for everyone's contributions, transcending backgrounds or roles.

“In a regenerative culture, every individual is recognized as equally important within a unified system, promoting an environment where everyone can thrive. Cultivating such a culture, whether in the workplace or broader community, encourages widespread contributions, grounded in the acknowledgment that every person holds significance” he remarked.

As the session concluded, Mr. Raghavan left attendees with a reflection on the significance of purpose. He emphasized that a sense of purpose can propel individuals a long way, enabling the pursuit of endeavors that bring immense joy. In a world grappling with challenges, his insights encourage a collective journey toward meaningful goals, driven by a shared sense of purpose to shape a sustainable future.

Reflecting on the interconnectedness of the universe, Mr. Ashok Kadsur remarked, 'Let's not forget that the entire ecosystem, or the entire universe, is set because every piece has its own activity. Similarly, every human being has a set task given to them from the moment of birth, guided by the universe. Our challenge arises from overthinking and creating unnecessary hierarchical constructs. By harmonizing with nature, we dissolve these complexities and find seamless alignment with our destined path”.

As the event drew to a close, Aarthy Venkat, Head of Strategy at SignDesk, extended her gratitude to Ajay, remarking, “Some conversations possess the power to truly inspire, and this was undeniably one of them. As a fellow lawyer, the insights shared were deeply inspiring".

"What Matters" is an employee enrichment initiative orchestrated by SignDesk, a global provider of document automation technology. The events include talks and interactive Q&A sessions with distinguished leaders, which are live-streamed for wide accessibility and engagement. The initiative serves as a platform to empower employees with continuous learning & personal growth and enables organizations to foster culture & wisdom.

Ambuja Cements To Power 60% Of Its Production With Green Power; 1,000 MW Renewable Power At Investment Of Rs. 6,000 Cr


EDITOR’S SYNOPSIS

·         Significant investment of Rs. 6,000 Crores in 1,000 MW solar and wind power projects, funded through Internal accruals.

·         Green Power share of 60% to be the industry leading for the 140 MTPA planned capacity.

·         With the lower cost of generation from green power, our power cost will come down from Rs. 6.46 per kWh to Rs.5.16 per kWh. A reduction of Rs. 1.30 per kWh (20%) which translates into Rs. 90 PMT of cement by FY 2028.

Ambuja Cements Limited, the cement and building material company of the diversified Adani Group, has unveiled an audacious goal solidifying its position as a frontrunner in the global arena of sustainable cement production. In a monumental stride towards a greener future, the Company has committed a significant investment of Rs. 6,000 crores in renewable power projects, targeting a capacity of 1,000 MW.

This transformative investment encompasses a diverse portfolio of solar and wind power projects strategically positioned across Gujarat and Rajasthan. The lineup includes a 600 MW Solar Power project and 150 MW Wind Power project in Gujarat and a 250 MW Solar Power project in Rajasthan. This will be achieved by FY 2026 (200 MW by March’24) in addition to the existing 84 MW of Solar & Wind Power.  

The investment not only demonstrates our commitment to environmental sustainability but also promises compelling economic advantages to Ambuja’s planned larger capacity of 140 MPTA. With lower cost of generation from green power, the power cost will come down from Rs.6.46 per kWh to Rs.5.16 per kWh. A reduction of Rs. 1.30 per kWh (20%), which translates into Rs. 90 PMT of cement for targeted capacity of 140 MTPA by FY 2028, accelerating the Company’s ESG targets. Additionally, green power will assist in enabling an increased supply of green cement, making it possible for the user industry (infrastructure and housing) to go green. 

Ambuja Cements is also enhancing its Waste Heat Recovery Systems (WHRS) capacity from the current 103 MW to 397 MW over the period of 5 years (134 MW by March’24), which will further reduce the power cost.

These initiatives are pivotal part of a broader vision which will help Ambuja achieve the leading share of Green Power amongst its peers, reaching 60% for the planned capacity of 140 MTPA from the current 19%.   

Mr. Ajay Kapur, CEO, Cement Business, said, "This strategic investment reaffirms our steadfast commitment to sustainable practices. We are not just aiming for a substantial increase in green power capacity but setting the stage for a transformative shift in the cement industry. They align not only with our growth trajectory but also with the national objective of de-carbonization and greener future and this helps us become competitive and sustainable. The adjacencies within the Group will further catalyze benefit realization. With all requisite approvals in place, we are on an accelerated path to not just meet but exceed our committed ESG targets well before our initial timelines."

With this monumental leap, Ambuja has firmly established itself as a trailblazer in the cement industry, setting the stage for a more sustainable future.

Indiastat Ventures Into e-Learning With Two High-Impact Courses


INDIASTAT - the market leader in providing comprehensive socioeconomic and electoral statistical information about India, its states, regions, districts and parliamentary/assembly constituencies - today announced its entry into online education. Indiastat is considered a trusted source for socioeconomic and electoral data, empowering researchers, scholars and institutions with its extensive knowledge base.

After more than two decades of offering invaluable data and insights to the global research community, Indiastat is expanding its horizons with the introduction of a novel e-learning platform – www.indiastatedu.com reflecting its steadfast commitment to knowledge dissemination and educational advancement. It is launches with two pioneering online courses:

1. Certificate Course in Election Laws of India: This intensive online program delves into the intricate legal framework governing elections in the world’s largest democracy, providing a deep understanding of election laws and procedures in India. The course covers Indian election laws, the Election Commission of India’s roles and responsibilities, electoral procedures, voter rights, electoral dispute resolution, etc. By enrolling in this course, students can boost their legal knowledge while strengthening their academic and professional profiles.

2. Certificate Course in Business Analysis and Thematic Mapping with GIS Tools & Techniques: A comprehensive course, it provides learners with the skills and knowledge required for effective business analysis and thematic mapping using GIS tools and techniques. Besides, the course equips students with the skills needed to excel in business analysis, offering an in-depth understanding of business processes, data analysis and strategic decision-making. Participants also learn to create and analyse thematic maps using GIS tools, which are essential in various fields such as urban planning, environmental science and business intelligence.

Both courses are carefully crafted by established industry names and domain experts. By arming students with real-world insights via case studies and practical examples, they allow learners to apply this knowledge effectively in their careers. These courses expand the horizons of students, imparting knowledge and skills to empower them to excel in their chosen fields. Knowledge of election laws and GIS tools & techniques uncovers opportunities for better job prospects and career growth. Offered to students and professionals worldwide, these online courses are eliminating geographical barriers to education. Although graduation is required for eligibility to enrol in these courses, students appearing in their final year of graduation can also apply.

Dr R K Thukral, Director of Indiastat, expressed enthusiasm for this new educational venture, stating, “Indiastatedu is the culmination of our commitment to knowledge and education. We are delighted to bring our expertise in data and information to the online education sphere. Our courses are designed to empower individuals, equipping them with the skills and knowledge that can open doors to new opportunities. We believe education should be a lifelong journey and Indiastatedu is our contribution to foster a culture of continuous learning.”

To learn more about these courses, fees and enrolment procedures, visit www.indiastatedu.com   Indiastatedu welcomes learners from around the world to join us in this exciting educational journey.

Honda Elevate Marks 20,000 Cumulative Sales Milestone In 100 Days After Launch


Honda Cars India Ltd. (HCIL), a leading manufacturer of premium cars in India announced that its new mid-size SUV Honda Elevate has achieved the sales milestone of 20,000 units in 100 days since its launch in September’23. This milestone is a testament to Honda’s steadfast dedication to excellence and also showcases the trust and loyalty the brand has earned from its customers.

The Honda Elevate has solidified its presence in the competitive SUV market, carving out a noteworthy position. The new model accounted for over 50% of total HCIL sales during the last 3 months and has helped the company grow its sales by 11% in the said period (Sept - Nov) over last year. 

Mr. Yuichi Murata, Director of Marketing and Sales at Honda Cars India Ltd., stated, “We are thrilled to witness the remarkable success of the Honda Elevate, which has surpassed our expectations. The 20,000 sales milestone of Elevate in the first 100 days of launch is a proud moment for us and reflects the trust & preference of our valued customers, making us a notable contender in the industry. Furthermore, we have maximised the production of the Elevate to serve our waiting customers as early as possible and adjusted the variant mix to align with the market demand which is overwhelmingly high for CVT variants currently.”

Designed with the concept of 'Urban Freestyler', the Honda Elevate boasts a bold and masculine design and is equipped with a powerful 1.5L i-VTEC petrol engine paired with 6-speed MT and 7-speed CVT automatic transmissions. 

The Elevate offers an impressively roomy interior, featuring a top-class wheelbase, ample headroom, knee room, legroom, and a class-leading cargo area. Its spacious interiors and advanced safety features, including ADAS technology of Honda SENSING, ensure both comfortable and stress free safe drive.  

With dimensions of 4312mm length, 1790mm width, 1650mm height, 2650mm wheelbase and a top-class ground clearance of 220 mm, the Elevate merges style and practicality seamlessly. 

The Honda Elevate offers a wide range of choice to customers with the convenience of a CVT automatic in 3 of its four grades and ADAS safety at very affordable price points.  

The Elevate is available at an introductory price ranging from INR 10,99,900 (ex-showroom, Delhi) to INR 15,99,900 (ex-showroom, Delhi) for the top-variant. These introductory prices are valid till the end of Dec’23. 

The Elevate had its World Premiere in India earlier in June this year and has garnered exceptional admiration and acceptance from customers since its global debut. India is the first country to manufacture and sell the Elevate globally. The company also aims to make India as an important export hub for the new model to other parts of the world, catering to the robust demand for SUVs globally. 

About Honda Cars India Ltd. 

Honda Cars India Ltd. (HCIL), a leading manufacturer of premium cars in India, was established in December 1995 with a commitment to provide Honda’s passenger car models and technologies, to the Indian customers. HCIL’s corporate office is based in Greater Noida, UP and its state-of-the-art manufacturing facility is located at Tapukara, District. Alwar, Rajasthan.  

Honda’s models are strongly associated with advanced design and technology, apart from their established qualities of durability, reliability, safety, and fuel-efficiency. The company has a strong sales and distribution network spread across the country.  

Besides the new car business, Honda offers one stop solution for buying and selling pre-owned cars through its business function Honda Auto Terrace. The Honda Certified Pre-owned cars come with an assurance of quality and peace of mind that caters to the diverse and burgeoning needs of pre-owned car buyers across the country. 

Herbal Mosquito & Cockroaches Repellent By Herbal Strategi


Herbal Strategi, a renowned name in natural and eco-friendly pest control solutions, proudly unveils two innovative Certified Ayurvedic Aerosol Pest Repellents. These new products are made with essential oils to provide consumers with a highly effective and non-toxic solution for keeping pests away.

Herbal Strategi Ayurvedic Mosquito Repellent Aerosol:

DEET-free, non-toxic, and with 100% herbal actives. Certified by the Department of AYUSH, this product not only repels mosquitoes instantly but with regular use according to the protocol it provides long term relief from mosquitoes. Crafted with essential oils and plant extracts, our formula is chemical-free, safe for use around babies and pets, and vegan/cruelty-free. Embrace natural protection with our powerful, convenient aerosol spray.

Herbal Strategi Ayurvedic Cockroach Repellent Aerosol:

An effective and non-toxic solution. Certified by the Department of Ayush, this product not only repels cockroaches instantly but with regular use according to the protocol it provides longer freedom from cockroaches. Made with 100% herbal actives from essential oils and plant extracts, our spray is chemical-free, safe for babies and pets and vegan/cruelty-free. Experience powerful protection in a convenient aerosol spray, keeping your home cockroach-free with natural ingredients.

Speaking on this occasion John Thomas Co-Founder of Herbal Strategi said, “Herbal Strategi Ayurvedic Aerosol Repellent Sprays offer a natural and a safer alternative to chemical options. Herbal Strategi Ayurvedic Aerosol Repellent Sprays are designed to not only ensure that Mosquitoes and Cockroaches are repelled instantly but provide a long lasting protection from these pests when used according to protocol”.

About Herbal Strategi 

Herbal Strategi is an 10-year-old Herbal Homecare Product Company manufacturing and marketing real herbal products made from essential oils and herbal extracts. With a commitment to sustainability, wellness, and a deep understanding of Herbal Repellents, Herbal Cleaners, Herbal Fresheners, Herbal Pet Care, Herbal Garden care, Herbal Hygiene, and Herbal Fogging Solutions, that are good for nature and your health. Our products are inspired by our customer's needs, feedback and ideas. These products have been curated for modern lifestyle challenges that each one of us and our planet faces.


Lecco Cucina Italian Design-Inspired Modular Furniture Experience Centre In HSR Layout & Eyes Hinterlands For Growth Of 100 Outlets


India’s IT city is emerging as a major market for exquisitely fashioned home and kitchen furniture that reflects the essence of Italian craftsmanship. Capitalizing on this trend, Lecco Cucina – the maker of Italian-design-inspired modular kitchens and wardrobes, is expanding its footprint in the highly style-conscious Bangalore market with the addition of its latest experience centre. Strategically located in the HSR Layout, the exclusive and expansive Experience Centre showcases the best of designs for discerning customers in this vibrant locality that is home to a bevy of start-ups and IT companies.

This launch marks the brand’s second exclusive Experience Centre in the city and comes in quick successionto the unveiling of the Lecco Cucina Experience Centre at the Orion Uptown Mall.   Spread across an impressive 1500 square feet, the showroom promises to enthral with an array of exceptional designs that are attunedto the unique aesthetic sensibilities of each customer.

The bouquet of two exquisite experience centres in Bangalore aimstoenhance the design experience for Indian homeowners apart from establishing Lecco Cucina as the aspirational symbol of innovation and style for the modular furniture industry.

Debuting with its flagship experience centre on Lavelle Road in the city, Lecco Cucina has rapidly built an impressive portfolio of exclusive outlets in a little over a year. Spread across the four south Indian states of Andhra Pradesh, Tamil Nadu, Telangana, and Karnataka, seven Lecco Cucina stores offer the choicest modular furniture that embodies the legendary Italian perfection.

A winning combination of aesthetics and utility, Lecco Cucina ushers in a new paradigm for Indian consumers who appreciate the good things in life. With their vision of bringing the best of Italian design and innovation to Indian homes, Lecco Cucina has quickly established a reputation in the region. Opting for the franchise route to expand its footprint in the region, the brand’s wide range of stylish and quality products quickly acquired an enviable reputation across south India.

“We aim to close the calendar year 2023 with 10 Franchise sign-ups, including the seven that are currently operational.  We are targeting 30 outlets in 2024 and 100 outlets by 2027 across tier 2 & tier 3 cities across South, West, and Central India,” said TrishulDevanga, Business Head – Lecco Cucina.

On offer are meticulously curated combos of kitchens and wardrobes for 3BHK, 2BHK, and 1BHK homes. Fully equipped kitchen combos to spacious wardrobes, comfortable bed sets, and TV units with shoe racks – Lecco Cucina transforms the dreams into reality with its amazing offerings

The Lecco Cucina growth story is fuelled by the vision and ambition to bring Italian elegance to Indian homes at reasonable prices. Lecco Cucina leverages Italian designs with German technology to fashion furniture that is attractive, functional, and cost-effective.   

For further details visit https://leccocucina.com/

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