Emaar India Empowers Construction Workers With "Shram" Skill Development Program

Emaar India proudly unveils “Shram” – a skill development programme for construction workers, tailored specifically for its workforce and in alignment with Emaar India’s commitment & focus on skill upgradation for Environmental, Social and Governance (ESG) Excellence”. This adherence is part of Emaar India’s 53rd National Safety Week Celebration.

“Shram” is an 80-hour comprehensive training initiative designed to equip construction workers with essential skills and knowledge vital for excelling in various job roles, encompassing essentials of bar bending & steel fixing, masonry, shuttering and carpentry. This programme will commence at the Urban Oasis project initially, followed by implementation at Emaar Business District in Sector 114, Gurugram.   

This pioneering programme underscores a dual emphasis on theoretical comprehension and practical learning, with a paramount focus on safety practices intrinsic to the construction industry. Participants will gain invaluable insight into safety and health protocols, first aid procedures, and emergency planning crucial for on-site worker safety.

In a strategic partnership with Lok Bharti Education Society, Emaar India endeavours to uplift blue collar worker communities by endowing individuals with vocational expertise indispensable for securing sustainable livelihoods within the construction industry.

Mr Kalyan Chakrabarti, CEO of Emaar India, stated, “I firmly believe that ‘Shram’ will catalyse transformation within a segment of society traditionally overlooked in terms of upskilling. Honouring Hon’ble Prime Minister Shri Narendra Modi’s vision of ‘Viksit Bharat by 2047’, this is a small contribution of Emaar India to improve the quality of talent pool in the country. By empowering our workforce, we can ensure a safer and more productive construction environment, educating them in the various areas of construction processes.” He further stated that this training program will provide digital and financial literacy, developing soft skills and introducing them to safety, health, hygiene and housekeeping.”

“Shram” aims to furnish workers with the requisite skills to navigate construction sites safely and efficiently – priorities often sidelined within the unorganised segment. Through expert-led on-site training, coupled with informative lectures and discussions, followed by final evaluation and assessment Emaar’s initiative seeks to empower the blue-collar workforce comprehensively.

Emaar India envisions “Shram” as a pivotal stride towards enhancing the construction industry’s safety standards and worker welfare. By equipping workers with valuable skills and knowledge, Emaar India aims to establish a new benchmark for ethical construction practices in India, integrating principles of ESG at the heart of its operations.

Union Bank of India’s In-house Software Development & Service Management Appraised at ISACA's CMMI Maturity Level 3

Union Bank of India proudly announces that its In-House Software Development Facility, Processes, and Service Management have been appraised at ISACA's CMMI Maturity Level 3, Schaumburg, IL, USA, a significant milestone in the bank's commitment to excellence and innovation in technology.

This achievement validates Union Bank of India's proficiency in software development and reinforces its position as a leader in the banking industry, equipped to meet the evolving needs of its customers through cutting-edge technological advancements.

The Capability Maturity Model Integration (CMMI®) Level 3 underscores Union Bank of India's dedication to maintaining high standards in software development, processes, and service management. The Bank's Department of Information Technology has demonstrated its ability to operate at a defined level of performance, characterized by well-established processes and a culture of continuous improvement, achieving this accolade through a rigorous evaluation process.

Union Bank of India is committed to leveraging technology to deliver the highest quality of services to its customers, excellence in software development and service management, ensuring that it meet and exceed the evolving needs of its stakeholders.

Key highlights of Union Bank of India's CMMI Maturity Level 3 appraisal include:

Utilization of organizational standards and tailoring to address project and work characteristics.

Integration of organizational assets into projects, enhancing efficiency and effectiveness.

Focus on achieving both project and organizational performance objectives.

Commitment to continuous performance improvement and the delivery of superior products and services.

The attainment of CMMI Maturity Level 3 further strengthens Union Bank of India to provide innovative banking solutions and unparalleled service quality.

Persistent Systems Records Strong Execution Drives Superior Performance

TARGET PRICE (Rs): 7,850

We recently interacted with the management of PSYS, to comprehend the demand environment & business outlook. KTAs: Under the leadership of CEO Sandeep Kalra, PSYS has strengthened its sales focus, changed incentive models to identify large deals & inculcate long-range thinking, enhanced client mining efforts, expanded partnerships across major tech players, and bolstered capabilities in hyperscaler clouds, integration, salesforce and digital payments via strategic tuck-in acquisitions – this has helped PSYS deliver top-quartile growth. Despite a challenging demand scenario, PSYS is well-poised to sustain industry-leading growth momentum, on the back of strong execution, proactive deal pursuits, and ability to identify new growth avenues like PE channel (~60-65% of the pursuits are proactive), presence in high-growth areas, and limited exposure to legacy business. But the stock has seen a stellar run-up of over 26%/74%/361% in the last 3M/1Y/3Y, resp., and trades at ~45x/36x on FY25E/FY26E EPS (broadly similar to BBG consensus) which we find expensive. Current valuation requires flawless execution and sustained industry growth tailwinds, and leaves little room for error. We find the risk-reward unfavorable at the CMP and await a better entry point to turn constructive on the stock. We roll forward to Mar-26E; retain REDUCE with TP of Rs7,850 at 34x Mar-26E EPS.

Demand scenario remains tough, but PSYS’s proactive approach drives consistent performance

Management is seeing some green shoots in discretionary spending, but has indicated that the overall demand environment is not materially different versus the last few quarters. Strong execution, proactive deal pursuits, and success in large deals are driving healthy deal intake for the company. Deal intake TCV grew 15.3% YoY to USD1.8bn on TTM basis, on account of traction in the private equity (PE) channel and Company’s proactive approach towards building the deal pipeline. PSYS works with 375 clients (over USD250k annualized revenue; ~47% of the clients boast of above-USD1mn revenue run-rate), including 14 of the top-30 technology majors, 8 of the top-10 global banks, and 6 of the top-10 healthcare companies. Mgmt expects revenue growth to stay broad-based, led by Healthcare, and followed by Software, hi-tech & emerging industries, and by BFSI. Expansion into Europe (targets increasing revenue share to 12-15% from ~9% of revenue now), expanding new logos in focus verticals, cross-selling to existing accounts, deepening partnership with tech majors, and steady progress on large-deal wins would drive strong growth and consistency in operating performance over the next 3-5 years.

Private equity channel adds another growth avenue

PSYS has tapped the PE channel to add newer avenues of growth. As PE firms increasingly intensify investments in software companies, they are looking to maximize investment returns within a set timeframe, with revenue and profit growth being the focus. With over 30 years of software product engineering experience, PSYS brings the right expertise, operating models, and infrastructure that is required to aid PE firms in deriving value throughout the investment lifecycle. ISVs select PSYS to optimize their operations, while continuing to innovate on product development. PSYS serves 16 of the top-20 software players and has been involved in the engineering of more than 5,500 product-releases from ISVs in the past five years. The PE channel is scaling well for the company, and is on track to attain a USD100mn run-rate.

Aspires reaching USD2bn revenue by FY27, with margin expansion

PSYS aims to maintain its growth momentum and attain USD2bn revenue run-rate by FY27, implying ~18% CAGR in FY23-27. It expects organic rev. CAGR of ~16%, while it sees acquisitions contributing ~USD150mn. It targets to expand EBITM by 200-300bps, factoring-in SG&A leverage with scale (+100bps), higher utilization (+100bps), pyramid correction, automation, and moderation in amortization costs as a percent of revenue.

Automation Anywhere Announces Record Fourth Quarter Led By Strength Of Gen AI-led Deals And Large Enterprise Customers

* Continued Profitability, Quarterly Growth and Strong Momentum Heading into next fiscal year

Automation Anywhere, the leader in intelligent automation that puts AI to work across organizations, today announced it delivered record fourth quarter performance, boosted by its generative AI-powered automation solutions, large enterprise customer deals, and robust sales worldwide. With its strong performance and increased momentum globally, the company reported that Q4 results exceeded its forecast and goals, notably a 50 percent growth from the third quarter and 14 percent increase in large deals year on year.

"Our fourth quarter and full year 2024 results illustrate our ongoing ability to deliver value to our customers," said Mihir Shukla, CEO and Co-founder of Automation Anywhere. "This was a pivotal year for the company, building and sustaining robust growth, and achieving profitability ahead of schedule. We're seeing more and more customers experience the tangible benefits of deploying AI and Intelligent Automation solutions at scale to help transform their business safely and securely. We have a very strong pipeline and tailwinds going into our fiscal year 2025."

The company's high customer retention rate is a strong signal that customers are engaged, committed, and aligned with Automation Anywhere's strategy and vision. Related, the Automation Anywhere Pathfinder community program realized a 20 percent growth rate over the past year, and the Automation Anywhere University all-time online course completions cracked a staggering 3 million.

"Our focus in industry and specific vertical solutions to help customers accelerate dramatic process automation results is the focal point of our strategy moving into our new fiscal year," Shukla continued. "The feedback we have received from our customers reaffirms the value that can be achieved from GenAI and automation. Our customers are responding to the enormous opportunity that GenAI-powered automation can bring, and they are pushing us to help them optimize the tangible, measurable, and transformational outcomes possible."

"We've deployed Automation Anywhere's Intelligent Automation platform within various Osaic applications and process workflows and experienced impressive customer experience improvements and internal efficiencies," said Tim Hodge, Executive Vice President, Trading and Operations for Osaic. "We're thrilled to be leveraging the power of Intelligent Automation in our business."

"We've implemented the capabilities of Automation Anywhere's Intelligent Automation platform and are very impressed with early results and excited about the opportunities they are creating for our business," said Mark Conte, Chief Accounting Officer, and Controller, JCPenney. "We expect the Automation Success Platform to help streamline labour-intensive processes as well as offer significant cost and materials savings in multiple areas across our organization."

Key Business Highlights

Deals over $100,000 in annualized value contributed more than 75 percent of the bookings in the quarter

Robust performance in the Enterprise segment was led by strong bookings globally

Customers completed more than 100,000 process automation runs powered with GenAI, highlighting a fast ramp in Q4

Ninety-five percent of customers are now exclusively on the latest GenAI-powered Intelligent Automation platform accelerating the value of Intelligent Automation solutions

Hyperscaler channel partnerships outperformed fourth quarter booking targets, highlighted by Amazon Web Services, Google Cloud and Microsoft Azure

Large customer base, high customer retention and winning product differentiation continues to lead to increased cash flow and strengthened balance sheet

Fourth Quarter Announcement Highlights

Automation Anywhere announced the availability of the industry's first specialized, generative AI automation model to dramatically improve process automation development. Developed on top of the leading large language models and trained with anonymized metadata from more than 150 million automation processes across thousands of leading enterprise applications, these models are delivering massive productivity gains and 9x return on investment. The company is set to transform the automation market by helping companies rapidly create streamlined business process automations and save millions of dollars.

The company announced a suite of new benchmarking services and a new customer benchmarking database initiative to help companies assess and maximize the business value of process automation deployments. These best practices help guide companies toward the highest value automation priorities faster than they could have determined on their own.

Additionally, the new Automation Co-Pilot for Automators solution expanded to include a suite of on-demand, generative AI-powered automation capabilities that helps build enterprise-grade automations much faster and efficiently, with the ability to create streamlined business process automations to increase productivity and save significant costs.

Automation Anywhere also entered into a multi-year Strategic Collaboration Agreement (SCA) with Amazon Web Services (AWS), which enhances Automation Anywhere's industry-leading expertise in generative AI and intelligent automation to boost enterprise productivity and power business growth, in addition to offering Automation Anywhere customers greater choice, flexibility and reliability for their generative AI deployments. 

Automation Anywhere's fourth quarter and 2024 fiscal year ended January 31, 2024. As a private company, Automation Anywhere does not disclose detailed financial information.

About Automation Anywhere

Automation Anywhere is the leader in intelligent automation solutions that put AI to work across every aspect of an organization. The company's Automation Success Platform is powered with specialized AI, generative AI and offers process discovery, RPA, end-to-end process orchestration, document processing, and analytics, with a security and governance-first approach. Automation Anywhere empowers organizations worldwide to unleash productivity gains, drive innovation, improve customer service and accelerate business growth. The company is guided by its vision to fuel the future of work by unleashing human potential through intelligent automation. Learn more at www.automationanywhere.com.

Automation Anywhere is a registered trademark/service mark of Automation Anywhere, Inc. in the United States and other countries.

Rayaan Naveed Siddiqui Of Mumbai Bags The ‘Spell Master of India’ Title At SBI Life Spell bee Season 13

SBI Life Spell Bee Season 13, India’s most prestigious spelling competition, an initiative by Mirchi, concluded with a thrilling Grand Finale in Mumbai. SBI Life Spell Bee Season 13 has crowned its Champion with Rayaan Naveed Siddiqui, Age- 13 years, Std VIII, from Bombay Scottish School, Mahim, Mumbai, bagging the ‘Spell Master of India’, National Title. The first runner-up, Adhita Nag, Age- 13 years, Std VIII, from Bombay Scottish School, Mahim, Mumbai, too demonstrated commendable skill at the Grand Finale. The ability of these young minds to navigate through complex words with precision and confidence set them apart as deserving winners. In an atmosphere filled with enthusiasm and excitement, the event witnessed the announcement and felicitation of the National Champion, whose remarkable performance throughout the competition demonstrated exceptional skill, dedication, and a profound love for language.

The event was graced by Indian Actress, Fashion Designer & Television Presenter, Ms. Mandira Bedi, who enthusiastically hosted the Grand Finale of SBI Life Spell Bee Season 13 and revealed the winners. The National Champion of SBI Life Spell Bee Season 13 was awarded the prestigious grand prize of INR 1,00,000/- along with an all-expenses-paid expedition to Disneyland, Hong Kong, accompanied by their parents.

This year's competition theme, "An initiative that spells progress”, signifies SBI Life's commitment to foster growth opportunities for India's young population. As a company dedicated to helping individuals achieve their dreams, SBI Life recognizes that true progress goes beyond academic success, extending to holistic development. The theme aligns with the brand's core values, emphasizing the importance of providing a platform to young minds to explore possibilities, carve their growth story, and thereby contribute to the nation's progress. SBI Life Spell Bee Season 13 has once again highlighted the importance of knowledge, language proficiency, and the invaluable role of educational initiatives in nurturing young minds.

Mr. Ravindra Sharma, Chief of Brand, Corporate Communications, and CSR at SBI Life Insurance, commented on the success of the partnership, saying, “As another chapter of Spell Bee culminates, SBI Life congratulates each and every participant including the winners. At SBI Life, our unwavering commitment to nurturing the potential of every individual is deeply ingrained in our values. We believe in the transformative power of early opportunities, as they lay the foundation for a lifetime of meaningful impact. Each child is a reservoir of unique capabilities, and by providing the right tools and platforms, we aspire to cultivate an environment that fosters continuous learning and development.”

“Our partnership with Spell Bee – 'Spell Master of India' reflects this commitment. It signifies our dedication to empowering the young minds, providing them with the opportunity to shine on a national stage. Children are the architects of our nation's future, and we take immense pride in supporting their educational journey. Our hope is to contribute our efforts in creating a legacy of continuous support, shaping the aspirations and ambitions of the youth in the years to come. We have embarked on this journey with enthusiasm, aiming to remain focused on doing our bit in shaping the future citizens who will undoubtedly contribute to the progress and prosperity of our great nation”, he added.

Speaking on his achievement, Master Rayaan Siddiqui, Winner of SBI Life Spell Bee Season 13, said, “SBI Life Spell Bee Season 13 journey to victory itself was quite fuzzy but I can clearly remember the joy I felt upon winning the grand finale! When I won the Regional Final, it sparked the desire to win the National Finale and prove my mettle to the nation. I practiced, poring over the study guide, and searching for difficult words. I looked through the dictionary and read several books about grammar and spelling. My school Spell Bee competitions over the years have groomed me well to handle the stage pressure. SBI Life Spell Bee was a very methodically planned, challenging contest. The experience was amazing with an audience that was sporting. Winning the 'Spell Master of India' title was like a dream come true! Overall, the experience was supercalifragilisticexpialidocious!"

Expressing her views on the initiative, Ms. Pooja Gulati, Executive Vice President & National IP Director, Entertainment Network India Ltd, stated, "Mirchi has always been proud of creating consumer-centric properties that add value and empower consumers and their families. Strategically, Mirchi has built its experiential impact properties portfolio, and Spell Bee is a flagship property within the same. Mirchi and SBI Life share a joint vision to aid school children in India in achieving their goals. The medium of spelling serves as a stepping stone for this vision. It is India’s largest spelling competition for schools and promotes the education of the English language at the highest level. In its 13th season, the property has grown significantly this year with a brand-new format. Spell Bee receives unparalleled love from children, parents, and teachers, which makes the property special. This year, the competition has expanded and received participation from schools in over 30 cities, in addition to robust online participation. As in previous years, the competition will be televised to encourage students to showcase their skills on a national platform and prepare for the upcoming season."

This season drew participation from over 150,000 students across 350+ schools in 30 cities, making it a multifaceted competition spread over five challenging phases. The competition commenced with intra-school contests, followed by inter-school competitions. Advancing through city-level and regional finales, the top 75 participants reached the highly anticipated National Finale, set to simulcast on Disney, Hungama, and Super Hungama.

About SBI Life Insurance

SBI Life Insurance (‘SBI Life’ / ‘The Company’), one of the most trusted life insurance companies in India, was incorporated in October 2000 and is registered with the Insurance Regulatory and Development Authority of India (IRDAI) in March 2001.

Serving millions of families across India, SBI Life’s diverse range of products caters to individuals as well as group customers through Protection, Pension, Savings and Health solutions.

Driven by ‘Customer-First’ approach, SBI Life places great emphasis on maintaining world class operating efficiency and providing hassle-free claim settlement experience to its customers by following high ethical standards of service. Additionally, SBI Life is committed to enhance digital experiences for its customers, distributors and employees alike.

SBI Life strives to make insurance accessible to all, with its extensive presence across the country through its 1,028 offices, 24,060 employees, a large and productive network of about 243,590 agents, 74 corporate agents and 14 bancassurance partners with more than 41,000 partner branches, 150 brokers and other insurance marketing firms.

In addition to doing what’s right for the customers, the company is also committed to provide a healthy and flexible work environment for its employees to excel personally and professionally.

SBI Life strongly encourages a culture of giving back to the society and has made substantial contribution in the areas of child education, healthcare, disaster relief and environmental upgrade. In 2022-23, the Company touched over 1.1 lakh direct beneficiaries through various CSR interventions.

Listed on the Bombay Stock Exchange ('BSE') and the National Stock Exchange ('NSE'), the company has an authorized capital of Rs. 20.0 billion and a paid-up capital of Rs. 10.0 billion. The AuM is Rs. 3,714.1 billion.

For more information, visit our website-www.sbilife.co.in and connect with us on Facebook, Twitter, YouTube, Instagram, and LinkedIn.

* (Numbers & data mentioned above are for the period ended December 31, 2023)

About Mirchi

Mirchi, owned by Entertainment Network India Limited (ENIL), is a media & entertainment company that operates India’s largest private FM radio brand - Mirchi - operating 73 frequencies across 63 cities. Launched in 2001, Mirchi now has a variety of properties under its FM, LIVE, and Digital platforms, each populated with multi-lingual, multi-platform and multi-format content. Mirchi now operates radio and digital brands in the USA (Dallas, New Jersey & California), UAE, Qatar, and Bahrain, bringing content directly from India to the discerning global consumers.

In July 2022, Mirchi launched its own digital platforms Mirchi Plus - as an App (Android & iOS), PWA (Progressive Web App) and Desktop site. Mirchi Plus offers a vast library of content in audio, video & text format with thousands of hours of curated content like original audio series, podcasts, RJ videos, Bollywood news and more. Across different languages and multiple genres, Mirchi Plus is Kahaniyon ka Asli Adda. Mirchi Plus is available not only in India but also in overseas markets - USA, Canada, UAE, Qatar & Bahrain.

To advertisers, Mirchi provides customized, hyper-local, multi-media solutions. The brand has been growing its listenership, as well as expanding its advertisers’ list through the years. The emphasis on generating results for advertisers, whether it is generating footfalls, creating buzz or inducing trails, with a focus on providing end to end solution under one roof, is what distinguishes Mirchi from its competitors.

Krystal Integrated Services Limited Initial Public Offering Opens On Thursday, March 14, 2024

·         Price Band fixed at Rs 680 to Rs 715 per Equity Share of face value of Rs 10 each (“Equity Share”);

·         Bid /Offer will Opens on Thursday, March 14, 2024 and Closes on Monday, March 18, 2024. The Anchor Investor Offer shall be on Wednesday, March 13, 2024;

·          Bids can be made for a minimum of 20 Equity Shares and in multiples of 20 Equity Shares thereafter;

·         The floor price is 68 times the face value of the Equity Shares and the Cap price is 71.50 times the face value of the Equity Shares;

·         The price / earnings ratio based on diluted EPS for Fiscal 2023 for our company at the upper end of the price band is as high as 21.45 times

Krystal Integrated Services Limited (“KISL” or “The Company”) shall open its Bid / Offer in relation to its Initial Public Offer of Equity Shares on Thursday, March 14, 2024.

The Offer Size comprises of fresh issue of Equity Shares aggregating up to Rs 1,750 million (Rs 175 crore) (The “Fresh Issue”) and Offer for Sale up to 1,750,000 Equity Shares (The “Offer for Sale”). (Together, The “Offer”)

The Price Band of the Offer has been fixed at Rs 680 to Rs 715 Per Equity Share. Bids can be made for a minimum of 20 Equity Shares and in multiples of 20 Equity Shares thereafter. (The “Price Band”)

The Anchor Investor Offer shall be on Wednesday, March 13, 2024. The Bid/Offer will open on Thursday, March 14, 2024 for subscription and close on Monday, March 18, 2024. (The “Bid / Offer Period”)

The company proposes to utilize the Net Proceeds from the Fresh Issue towards funding – (i) Repayment/prepayment, in full or part, of certain borrowings availed of by the Company amounting to ? 100 million (? 10 crore); (ii) Funding working capital requirements of the Company amounting to ? 1000 million (? 100 crore); (iii) Funding capital expenditure for purchase of new machinery amounting to ? 100 million (? 10 crore) and (iv) balance amount towards General corporate purposes.

The Offer for Sale comprises of up to 1,750,000 Equity Shares by Krystal Family Holdings Private Limited. The proceeds of the Offer for Sale shall be received by the Promoter Selling Shareholder. (The “Promoter Selling Shareholders”)

The Equity Shares offered through this Red Herring Prospectus of the Company dated March 4, 2024 filed with Registrar of Companies, Maharashtra at Mumbai (“RoC”).

The Equity Shares offered through this Red Herring Prospectus are proposed to be listed on the Stock Exchanges. Our Company has received an ‘in-principle’ approval from each of the BSE Limited (“BSE”) and National Stock Exchange of India Limited (“NSE”) for the listing of the Equity Shares pursuant to letters dated December 12, 2023 and December 11, 2023, respectively. For the purposes of the Offer, BSE is the Designated Stock Exchange.

The Offer is being made through the Book Building Process, in terms of Rule 19(2)(b) of the SCRR read with Regulation 31 of the SEBI ICDR Regulations. This Offer is being made in compliance with Regulation 6(1) of the SEBI ICDR Regulations, wherein not more than 50% of the Offer shall be allocated on a proportionate basis to Qualified Institutional Buyers (“QIBs”) (“QIB Portion”), provided that our Company and the Promoter Selling Shareholder may, in consultation with the Lead Manager, 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 shall be available for allocation on a proportionate basis only to Mutual Funds, subject to valid Bids being received at or above the Offer Price, and the remainder of the Net QIB Portion shall be available for allocation on a proportionate basis to all QIBs, including Mutual Funds.

Further, not less than 15% of the Offer shall be available for allocation to Non-Institutional Investors 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. One-third of the Non-Institutional Portion shall be available for allocation to Non-Institutional Bidders with a Bid size of more than ?0.2 million and up to ?1 million and two-thirds of the Non-Institutional Portion shall be available for allocation to Non-Institutional Bidders with a Bid size of more than ?1 million provided that under-subscription in either of these two sub-categories of the Non-Institutional Portion may be allocated to Non-Institutional Bidders in the other sub-category of Non-Institutional Portion in accordance with the SEBI ICDR Regulations, subject to valid Bids being received at or above the Offer Price.

All potential Bidders (except Anchor Investors) are mandatorily required to participate in the Offer through the Application Supported by Blocked Amount (“ASBA”) process by providing details of their respective ASBA accounts and UPI ID in case of UPI Bidders, as applicable, pursuant to which their corresponding Bid Amount will be blocked by the Self Certified Syndicate Banks (“SCSBs”) or by the Sponsor Bank(s) under the UPI Mechanism, as the case may be, to the extent of the respective Bid Amounts. Anchor Investors are not permitted to participate in the Offer through the ASBA process.

Inga Ventures Private Limited is 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.

Photo Caption  (L-R) Mr. G S Ganesh, Founder, Inga Ventures Limited, Mr. Barun Dey – Chief Financial Officer, Krystal Integrated Services Limited, Mr. Sanjay Suryakant Dighe - Chief Executive Officer and Whole time Director, Krystal Integrated Services Limited, Mr. Prasad Minesh Lad – Promoter, Krystal Integrated Services Limited, Mrs Neeta Prasad Lad – Promoter, Chairperson and Managing Director, Krystal Integrated Services Limited, Mr. Shubham Prasad Lad – Promoter, Whole Time Director, Krystal Integrated Services Limited.

Cleartrip Returns With The Biggest Summer Travel Extravaganza - #NationOnVacation

* The second year of Cleartrip’s Marquee Travel Sale Event promises great deals across flights, hotels, buses and packages!

With summer just around the corner, Cleartrip, a Flipkart company, announced the second edition of its highly anticipated marquee travel sale #NationOnVacation. The 9-day travel extravaganza starts on 14 March 2024 and is set to revolutionise the travel experience by presenting attractive deals on hotels, flights, buses, and packages. Amidst high demand, airfares are likely to go up for the summer season. With #NationOnVacation, Cleartrip and Flipkart Travel are providing an opportunity for their customers to take advantage of the best offers on their platforms and book their dream holidays. In line with its customer-centric values, Cleartrip, under the umbrella of ‘ClearChoice’, is offering greater flexibility for its users. With ClearChoice PLUS and ClearChoice MAX, travelers can cancel or modify their bookings and get a full refund as opposed to the standard airline changes ranging from INR 2500 onwards. Myntra and Flipkart Loyalty customers can look forward to special offers and discounts on the Cleartrip and Flipkart Travel platforms.

Speaking on the occasion, Ayyappan Rajagopal, CEO, Cleartrip, said “#NationOnVacation was built with the idea of instilling a sense of planning travel way in advance in the minds of travellers. We were thrilled with the response to NationOnVacation last year and are excited to bring it back with offerings that will make summer a memorable holiday for all. Fares are expected to jump by 20-25% for bookings that will be made later in April and May when compared to planning in advance and booking now. With curated and customer-centric deals, we wish to celebrate India’s love for summer travel by making it more affordable than ever before. With ClearChoice fares, travelers can eliminate anxieties related to last-minute planning and ensure great value for money. Book now to lock in the best deals, get ahead of potential spikes in fares and enjoy a superior travel experience.”

Key offers include:

Domestic flights starting from INR 999 

International flights starting from INR 4999

4- & 5-star hotels starting from INR 2499

Up to INR 500 off on bus bookings

ClearChoice MAX on Domestic flights at a flat 599

30-80% off on hotel bookings

ClearChoice plus at Rs.49 + Up to 10% additional discount on hotels

ClearChoice MAX at Rs.1 + Up to 15% additional discount on hotels

The above are subject to availability & for a Limited period only.

Last year’s #NationOnVacation witnessed an incredible success, with a 60% increase in bookings across categories compared to the same period in 2022. Cleartrip remains dedicated to investing in industry-first and customer-centric propositions throughout the year to make travel accessible to a broader demographic.

T&C: Please read all the terms and conditions carefully before availing the above offers and booking on our platform.

About Cleartrip

Launched in July 2006, Cleartrip Pvt Ltd., a Flipkart company, has emerged as India’s fastest-growing online travel technology company. In April 2021, Flipkart acquired a majority stake in Cleartrip. Cleartrip recently emerged as the no. 2 OTA player as per a study by VIDEC. With an aggressive plan to emerge as a leading innovator in the industry, Cleartrip is on its way to building a differentiated value proposition for its customers looking for end-to-end travel solutions. With industry-first offerings such as ‘CT Flexmax, CT Flex, CT Upgrade and Cancel for No Reason’, Cleartrip has a clear vision to provide innovative solutions in the OTA segment. Combining intuitive products with a customer-centric approach and a wide selection of flights, hotels, and buses, Cleartrip brings a unique selling point to the market, offering its customers convenience, choice, competitive prices, and premium content.