Hyatt Set To Expand Band Pesence In Nepal With Hyatt Regency Lumbani

* The 175-guestroom property will be the fourth Hyatt branded property in Nepal and will mark the second hotel with Golyan Group

Hyatt Hotels Corporation (NYSE: H) today announced that a Hyatt affiliate has entered into a management agreement with Veda Hospitality Private Limited, a part of the Golyan Group Limited, for Hyatt Regency Lumbini. The property will be the fourth Hyatt branded hotel in Nepal, reaffirming the significance of the market in Hyatt’s ambitious growth plans for Southwest Asia. 

Revered as the birthplace of Lord Buddha, the serene and spiritually significant town of Lumbini stands as an unparalleled destination for tourists as it draws travelers from across the world to the sacred site. It also boasts an UNESCO World Heritage status, with Lumbini's vast gardens featuring historical treasures, including the Ashoka Pillar, diverse monasteries and international temples reflecting global Buddhist traditions and fostering cultural exchange.

Nestled on the banks of the scenic Dano River, the property will be conveniently located within a short driving distance from the highly visited pilgrimage destination, Mayadevi temple, as well as other major attractions. It will also be near the Gautam Buddha International Airport, the city of Butwal, and the Nepal–India border, providing global business and leisure travelers with seamless access. Hyatt Regency Lumbini is expected to open by 2028.

“Nepal continues to play a significant role in Hyatt’s growth strategy in the Southwest Asia region, and we look forward to continued collaboration with Golyan Group Limited to bring international standards of hospitality to the province of Lumbini with the Hyatt Regency brand,” said Dhruva Rathore, vice president of development, India & Southwest Asia, Hyatt. “The profound cultural and spiritual appeal of Lumbini, with its rich heritage, positions it as a compelling destination for travelers and locals alike. It also reaffirms Hyatt's commitment to thoughtfully expanding our brand footprint in destinations preferred by our guests, World of Hyatt members, customers, and owners.”

“We are delighted to extend our collaboration with Hyatt to debut the first ever Hyatt Regency branded hotel in Lumbini,” said Akshay Golyan, managing director, Golyan Group Limited.

“Our vision for Hyatt Regency Lumbini is to create a world-class destination that elevates the hospitality experience in Nepal while respecting and promoting the cultural heritage of Lumbini. We believe this hotel will become a landmark in the region and a key contributor to Nepal’s tourism industry.”

Designed to bring people together and foster a spirit of community, Hyatt Regency hotels and resorts inspire guests to seek personal connections and professional collaboration. The upcoming property will be a blend of modern design and traditional Nepali warmth. Thoughtfully designed to complement the region’s cultural heritage, the hotel will be spread across 11 acres featuring 175 guest rooms, convenient dining options, events and meeting spaces, and a range of amenities including a state-of-the-art fitness center, a wellness spa, an outdoor pool, and other entertainment facilities.

Hyatt’s current portfolio in India and Southwest Asia consists of 52 properties, 50 in India and two in Nepal, across nine brands including Andaz, Alila, Hyatt, Hyatt Regency, Hyatt Centric, Hyatt Place, Park Hyatt, Grand Hyatt and JdV by Hyatt.

The term “Hyatt” is used in the release for convenience to refer to Hyatt Hotels Corporation and/or one or more of its affiliates.

About Hyatt Hotels Corporation

Hyatt Hotels Corporation, headquartered in Chicago, is a leading global hospitality company guided by its purpose – to care for people so they can be their best. As of June 30, 2024, the Company's portfolio included more than 1,350 hotels and all-inclusive properties in 78 countries across six continents. The Company's offering includes brands in the Timeless Collection, including Park Hyatt®, Grand Hyatt®, Hyatt Regency®, Hyatt®, Hyatt Vacation Club®, Hyatt Place®, Hyatt House®, Hyatt Studios, and UrCove; the Boundless Collection, including Miraval®, Alila®, Andaz®, Thompson Hotels®, Dream® Hotels, Hyatt Centric®, and Caption by Hyatt®; the Independent Collection, including The Unbound Collection by Hyatt®, Destination by Hyatt®, and JdV by Hyatt®; and the Inclusive Collection, including Impression by Secrets, Hyatt Ziva®, Hyatt Zilara®, Zoëtry® Wellness & Spa Resorts, Secrets® Resorts & Spas, Breathless Resorts & Spas®, Dreams® Resorts & Spas, Hyatt Vivid Hotels & Resorts, Alua Hotels & Resorts®, and Sunscape® Resorts & Spas. Subsidiaries of the Company operate the World of Hyatt® loyalty program, ALG Vacations®, Mr & Mrs Smith™, Unlimited Vacation Club®, Amstar DMC destination management services, and Trisept Solutions® technology services. For more information, please visit www.hyatt.com.

About Hyatt Regency

The Hyatt Regency brand is a global collection of hotels and resorts found in more than 230 locations in over 40 countries around the world. The depth and breadth of this diverse portfolio, from expansive resorts to urban city centers, is a testament to the brand’s evolutionary spirit. For more than 50 years, the Hyatt Regency brand has championed fresh perspectives and enriching experiences, while its forward-thinking philosophy provides guests with inviting spaces that bring people together and foster a spirit of community. As a hospitality original, Hyatt Regency hotels and resorts are founded on openness—our colleagues consistently serve with open minds and open hearts to deliver unforgettable celebrations, effortless relaxation and notable culinary experiences alongside expert meetings and technology-enabled collaboration. The brand prides itself on an everlasting reputation for insightful care—one that welcomes all people across all countries and cultures, generation after generation. For more information, visit hyattregency.com. Follow @HyattRegency on Facebook, Twitter and Instagram. 

Supriya Lifescience Ltd. Reports Strong Q2 FY25 Growth With 19% YoY Revenue Increase

The unaudited financial statements for the Q2FY25 results have been released by Supriya Lifescience Ltd., a cGMP-compliant business with a strong track record in API manufacturing and a focus on products from a variety of therapeutic segments, including anti-histamine, anti-allergic, vitamin, anaesthetic, and anti-asthmatic. The company has spread its business in more than 86 countries across the globe.

Key Highlights for Q2 FY25:

In the second quarter of FY25, Supriya Lifescience Ltd. witnessed remarkable growth in its revenue, reporting a 18.6 % year-over-year increase, reaching Rs. 166.1 crore compared to Rs. 140.1 crore in Q2 FY24

Gross Profit for Q2 FY25 stood at Rs. 120.13 crore, with a growth of 53.1% compared to Rs. 78.46 crore in Q2 FY24

EBITDA for Q2 FY25 stood at Rs. 64.72 crore, with an EBITDA Margin of 39.0%, as opposed to an EBITDA of Rs. 31.75 crore in Q2 FY24 with an EBITDA margin of 22.7%. This marks a growth of 103.8% YoY

The Profit After Tax (PAT) for Q2 FY25 came at Rs 46.15 crore, compared to Rs 23.88 crore in Q2 FY24

The PAT Margin stood at 27.8% in Q2 FY25, compared to 17.0% in Q2 FY24

Analgesic and Anaesthetic segment led the business growth in Q2 contributing 54.9% to the revenue vs 50.0% in Q2FY24. Anti-Asthmatic segment contributed 9.2% compared to 7.2%

European markets now contribute 45% of our business revenue in H1FY25 up from 39% in H1FY24

For Anaesthetic therapy 3 ANDA projects have been initiated and company is also working on ANDA projects for Anti Hypertensive and Vitamins

Capacity Utilisation has quickly increased from 47% in FY22 following a fresh capacity addition to 86% in FY24. In order to support future growth of various business segments the company has acquired three separate land parcels near different plants

Supriya Lifescience Ltd. continues to expand its global footprint, now doing business with over 1,700 customers across more than 128 countries. To ensure sustained growth and further expansion through new customer acquisition, the company has strategically distributed these geographic regions among its dedicated sales teams

Dr. Satish Wagh, Executive Chairman & WTD, Supriya Lifescience Ltd, commenting on the results, said, “Our commitment to innovation through R&D is paving the way for sustained growth and expansion. With the commissioning of our advanced R&D lab at Lote Parshuram and the upcoming Ambernath facility, we’re focusing on new product development and CMO/CDMO opportunities to complement our existing portfolio. Expanding our global presence across key regions, we're also working closely with regulatory and sales teams to acquire new customers, particularly in regulated markets. Our recent exclusive 10-year contract with a leading European firm underscores our capabilities in handling complex chemical processes, setting the stage for similar opportunities. As we enhance our infrastructure, including increasing capacity at Lote Parshuram to 1,020 KL by Q3 FY25, we’re building a foundation for a stronger future."

PNB Marks “Vigilance Awareness Week 2024” With Nationwide Integrity Pledge

In line with the Central Vigilance Commission (CVC) directives and this year theme “Culture of Integrity for Nation's Prosperity”, Punjab National Bank (PNB), nation’s leading public sector bank, celebrated the Vigilance Awareness Week 2024.

The inaugural ceremony was held at the Bank’s Corporate Office in Dwarka, New Delhi, where PNB Chairman Shri K.G. Ananthakrishnan, PNB MD&CEO Shri Atul Kumar Goel, PNB Executive Directors (EDs) - Shri M. Paramasivam and Shri Bibhu P. Mahapatra, other Directors on Board and PNB Chief Vigilance Officer (CVO) Shri Raghvendra Kumar paid tribute to Loh Purush Sardar Vallabh Bhai Patel, honouring his legacy as a champion of unity and integrity. PNB MD&CEO Shri Atul Kumar Goel administered the Integrity Pledge to staff members posted at Corporate Office, underscoring the Bank’s commitment to ethical business practices and integrity.

During the Vigilance Awareness Week, PNB also organised numerous outreach and awareness activities, including a Cyclothon (Cycle Rally) and a walkathon, both flagged off by PNB CVO Shri Raghvendra Kumar from the Bank’s Corporate Office in New Delhi, to raise awareness about the menace of corruption.

In addition, health check-up camp was conducted in collaboration with local hospital. In-house competitions for employees and their families such as essay and jingle contests, poster making competitions etc. were also organised.

PNB CVO Shri Raghvendra Kumar in his message on Social media handles of the Bank, emphasizing on the theme and importance of vigilance, stated: “The guidelines set forth by the Commission serve as a foundation for the nation's continued development. This year, the Commission initiated a three-month campaign focusing on five key areas: capacity-building programmes, identification and implementation of systemic improvement measures, updating of circulars, guidelines, and manuals, timely disposal of complaints received before 30 June 2024, and enhancing our dynamic digital presence. PNB has aligned its initiatives with the Commission's objectives to ensure that it upholds the highest standards of integrity and transparency while contributing to a robust framework that supports sustainable development of the nation and fosters a transparent system.”

Photo Caption: PNB MD&CEO Shri Atul Kumar Goel (centre), along with senior officials/ board of directors of the Bank, inaugurated Vigilance Awareness Week 2024 at PNB's Corporate Office. 

Marut Drones Secures $6.2M In Series A Funding To Strengthen Product Development And Manufacturing Capabilities

Marut Dronetech Pvt Ltd, a leading drone technology company with DGCA certification for manufacturing and training has raised $6.2 million in Series A funding from Lok Capital. Marut Drones is at the forefront of innovation in drone technology and is building a robust ecosystem to promote drone adoption across various sectors in India. Lok Capital’s investment in Marut Drones reaffirms its commitment to backing innovative tech-enabled food and agriculture business models. The impact of Marut’s initiatives extends far beyond individuals, the proactive approach will translate into heightened economic activity in tier 2 and 3 cities, fostering entrepreneurship and financial independence for rural communities at the grassroots level.

Marut Drones plans to allocate funds towards several key initiatives, including the development of advanced agricultural drones tailored to customer needs, expanding its channel partner network and service centers into Tier 2-3 cities to better serve rural customers, and establishing drone agriculture service hubs to offer Drone-as-a-Service with a partnership approach. The company also aims to recruit professionals across all verticals, foster drone entrepreneurship, launch 17 new drone academies to train skilled professionals and enhance its research and development efforts in partnership with leading institutions in India to create advanced applications like direct seeding and crop monitoring.

Hari Krishnan, Director of Lok Capital expressed his enthusiasm for this transformative investment, stating, “We’re excited to partner with the team at Marut to bring solutions to farmers and the broader rural economy. Drones for agriculture are a novel technology that can secure the health of crops, while also saving water, preserving soil health, avoiding exposure to chemicals, increase yield to farmers and providing income to village-level entrepreneurs. Our investment in the company will support market expansion, new technology innovations, and indigenous manufacturing efforts.”

Prem Kumar Vislawath, CEO and Co-Founder, Marut Drones said, ‘We are excited about this fund raise and bringing on-board like-minded investors. This significant investment reinforces Marut Drones’ commitment to empower Indian farmers and develop applications for aggregating drone-based services for institutions across sectors. The fresh capital will also allow us to make investments in building our team, increasing our manufacturing capacity to 3000 drones per annum, and marketing to continue scaling at a rapid pace to reach a revenue target of 1000 cr in the next five years.”

Founded in 2019 by Prem Kumar Vislawath, Suraj Peddi and Sai Kumar Chinthala, Marut Drones has a goal of establishing a pan-India presence, thus positioning the company to play a pivotal role in modernizing agriculture across diverse geographies. While agriculture will remain a priority, Marut Drones is also exploring disaster management and surveillance applications, reinforcing its role as a comprehensive drone technology provider. Marut is committed to creating rural employment opportunities for tier 2 and 3 cities, contributing to enhanced productivity and reduced input costs for farmers. The company has grown to over 200 team members and has a fleet of 750 drones and over 1000 drone pilots across 14 states in India. Marut’s AG365H India’s first DGCA Type Certified medium category multi-utility agricultural and fish feeding drone was recently inaugurated by Chief Minister of Andhra Pradesh and Minister of Civil Aviation of India. Marut Drones is inviting partnerships from enterprising individuals, agri entrepreneurs, large agri input companies, agri equipment manufacturers, agri retailers/ dealers/ distributors for all its business activities – drone sales, drone service and drone training, to join in its journey in creating a revolution in the Indian agri industry. 

Hero MotoCorp Surges Ahead During The Festive Season With Its Highest-Ever Festive Sales

Hero MotoCorp, the world’s largest manufacturer of motorcycles and scooters, achieved its highest-ever retail sales during the recent 32-day festive period,  starting from Navratri.

With sales of over 15.98 lakh (1.6 million) units, the company registered an impressive 13% growth compared to the festive season of 2023.

The robust demand for Hero MotoCorp's products was evident across both urban and rural India. The 125cc motorcycle segment, with Xtreme 125R, emerged as a key growth driver, while the 100cc segment also contributed positively to the company's strong sales performance.

VIDA, Hero MotoCorp's electric vehicle brand, crossed a significant milestone by achieving 11,600 retail sales during the same period. VIDA network's ongoing expansion, leveraging Hero Premia and Hero 2.0 outlets, in conjunction with a heightened emphasis on the Top 30 towns, is yielding positive results. The upcoming portfolio expansion is set to infuse the brand with further impetus.

The Harley-Davidson X440 achieved sales of over 2800 units, highlighting the brand's popularity. As the company aims to expand the Premia network to over 100 locations by the end of this fiscal year, it will enhance the reach and accessibility of this aspirational brand.

Niranjan Gupta, Chief Executive Officer, Hero MotoCorp, said “For the second consecutive year we have achieved our highest-ever festive retail sales, which is a testament to Hero MotoCorp's position as the preferred brand in India. We are grateful for the unwavering trust of our millions of customers. There has been good momentum and growth in most parts of the country with rural sales catching up with the urban segment in the latter half of the festive season. We expect the momentum to continue and are optimistic about the remainder of the year.”  

Hero MotoCorp's exceptional performance during the festive period has enabled it to further solidify its leadership position. The company's sustained focus on innovation, customer satisfaction, and a strong sales network highlights its commitment to providing high-quality products and meeting the diverse needs of its customers.

Indo-Korean Music Synergy: KOLAB’s Groundbreaking Collaboration For 2024

The Indian Performing Right Society Ltd. (IPRS) and the Korean Music Copyright Association (KOMCA) are thrilled to announce the upcoming “Indo-Korean Music Collaboration Programme”, a one-of-a-kind initiative designed to foster cultural exchange and create original cross-cultural music. Set to take place from November 6th to November 12th, 2024, at the True School of Music, Vijaybhoomi University Campus, Jamrung, Maharashtra, this event will bring together 15 artists, 10 from across India and 5 from South Korea, to collaborate on songwriting, composition, music production, and creative innovation. Blending diverse musical influences, the programme aims to forge lasting artistic and industry connections while introducing fresh, globally appealing music rooted in the rich traditions of both Indian and Korean music.

KOLAB will offer a unique setting for participants to expand their creative horizons through collaborative sessions guided by leading music creators such as Bunty Bains and Mayur Puri who will serve as the Creative Directors. Throughout the week, participants will merge their distinctive styles and ideas, infusing Indian rhythms with Korean popular music influences to create songs that embody the vibrant cultural exchange of both nations. The event will culminate in an exclusive listening session on 13th November in Mumbai, where the newly composed songs will be presented to an audience of industry professionals, offering these artists valuable exposure, feedback, and potential opportunities for broader reach and commercial success.

Commenting on the initiative, Mr. Rakesh Nigam, CEO of The Indian Performing Right Society, said, “At IPRS, we are dedicated to creating a vibrant platform for music creators, empowering them with global exposure and collaborative opportunities that transcend borders. Our collaboration with KOMCA through KOLAB is a testament to our commitment to cultural bridging, seamlessly connecting the rich musical traditions of India and Korea. Furthermore, we stand firm in our mission to protect the rights of artists, ensuring that their creative contributions are recognized and rewarded. Together, we are not just promoting music; we are fostering a thriving, interconnected community of artists.”

“Vijaybhoomi University is thrilled to host KOLAB — the first-of-its-kind Indo-Korean Songwriting Program—on its scenic & green campus in Jamrung, Maharashtra. Powered by the True School of Music at Vijaybhoomi, this seven-day residency will bring together artists from India and South Korea, providing an inspiring setting for creative expression and cross-cultural collaboration.

Organized by the Indian Performing Right Society and the Korean Music Copyright Association, this event signifies a new chapter in the expanding Indian music industry, fostering stronger ties between the two countries through the universal language of music”, said Mr. Vinay Prabhakar, Dean, The True School of Music Vijaybhoomi University.

“As curators of the Indo-Korean Song Camp, organized by IPRS in association with KOMCA, we at Bunty Bains Productions are thrilled to guide and bring together talented artists from India and Korea, This camp is a unique opportunity for artists to blend their skills and cultural, background, creating fresh, innovative music that bridges two rich musical traditions”, added Bunty Bains, Lyricist, Composer, Producer & CEO of Bunty Bains Productions.

KOLAB’s vision extends beyond producing original cross-cultural music; it aims to establish enduring collaborations between the Indian and Korean music industries. By fostering relationships throughout the programme, KOLAB aspires to create a foundation for ongoing artistic exchange and future creative partnerships, highlighting the international appeal and significance of this initiative. Through KOLAB, IPRS and KOMCA are paving the way for meaningful cultural exchange, strengthening the growth of independent music, and building a global network of creators that celebrates and sustains both musical legacies while driving innovation in the industry.

Swiggy Limited’s Initial Public Offering To Open on Nov 6-8, 2024; Price Band Fixed From Rs 371 To Rs 390 Per Equity Share

*  Price Band fixed at Rs  371 per equity share to Rs 390 per equity share of the face value of Rs 1 each (“Equity Shares”) of Swiggy Limited (the “Company”)

* Anchor Investor Bidding Date – Tuesday, November 05, 2024

* Bid /Offer Opening Date – Wednesday, November 06, 2024, and Bid/ Offer Closing Date – Friday, November 08, 2024

* Bids can be made for a minimum of 38 Equity Shares and in multiples of 38 Equity Shares thereafter

* For further details, please also see price band advertisement shared as an attachment or view price band advertisement published in Financial Express newspaper dated October 30, 2024 on  page no 26.

Swiggy Limited, India's pioneering on-demand convenience platform (the “Company”), proposes to open its initial public offering (“Offer”) on Wednesday, November 06, 2024. Bid/ Offer Closing Date will be Friday, November 08, 2024. Anchor Investor Bidding Date is one Working Day prior to Bid/Offer Opening Date, that is, Tuesday, November 05, 2024. 

The Price Band of the Offer has been fixed from Rs 371 per Equity Share to Rs 390 per Equity Share. Bids can be made for a minimum of 38 Equity Shares and in multiples of 38 Equity Shares thereafter.

The Offer comprises of a Fresh Issue of Equity Shares aggregating up to Rs  44,990 million (the “Fresh Issue”) and an offer for sale of up to 175,087,863 equity shares  (the “Offer for Sale”) by the Selling Shareholders. .

The Offer includes a reservation of up to 750,000 equity shares of face value of Rs 1 each, aggregating up to Rs [•] million, for subscription by eligible employees not exceeding 5% of our post-offer paid-up equity share capital (the “Employee Reservation Portion”). The Offer less the Employee Reservation Portion is hereinafter referred to as the Net Offer.

The Equity Shares offered through the Red Herring Prospectus are proposed to be listed on BSE Limited (“BSE”) and National Stock Exchange of India Limited (“NSE”).

This is an Offer in terms of Rule 19(2)(b) of the SCRR read with Regulation 31 of the SEBI ICDR Regulations. This Offer is being made through the Book Building Process in compliance with Regulation 6(2) of the SEBI ICDR Regulations wherein not less than 75% of the Net Offer shall be available for allocation on a proportionate basis to Qualified Institutional Buyers (“QIBs” and such portion the “QIB Portion”) provided that our Company and Selling Shareholders, in consultation with the BRLMs, may 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 price at which Equity Shares will be allocated to the Anchor Investors (“Anchor Investor Allocation Price”), in accordance with the SEBI ICDR Regulations. In the event of under-subscription or non-allocation in the Anchor Investor Portion, the balance Equity Shares shall be added to the QIB Portion (excluding the Anchor Investor Portion) (“Net QIB Portion”). Further, 5% of the Net QIB Portion shall be available for allocation on a proportionate basis to Mutual Funds only and the remainder of the Net QIB Portion shall be available for allocation on a proportionate basis to all QIBs (other than Anchor Investors) including Mutual Funds, subject to valid Bids being received at or above the Offer Price. If at least 75% of the Net Offer cannot be Allotted to QIBs, then the entire Bid Amount (as defined hereinafter) will be refunded forthwith. 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 more than 15% of the Net Offer shall be available for allocation to Non-Institutional Bidders (“NIBs”) of which (a) one third portion shall be reserved for NIBs with application size of more than Rs 200,000 and up to Rs 1,000,000; and (b) two-thirds of the portion shall be reserved for NIBs with application size of more than Rs ,000,000, provided that the unsubscribed portion in either of such sub-categories may be allocated to Bidders in other sub-category of the NIBs in accordance with SEBI ICDR Regulations, subject to valid Bids being received above the Offer Price and not more than 10% of the Net Offer shall be available for allocation to Retail Individual Bidders (“RIB”) in accordance with the SEBI ICDR Regulations, subject to valid Bids being received from them 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 being received from them at or above the Offer Price. All Bidders (except Anchor Investors) are required to mandatorily utilise the Application Supported by Blocked Amount (“ASBA”) process by providing details of their respective ASBA accounts and UPI ID (in case of UPI Bidders (defined hereinafter) using the UPI Mechanism), in which case the corresponding Bid Amounts will be blocked by the SCSBs or under the UPI Mechanism, as applicable to participate in the Offer. Anchor Investors are not permitted to participate in the Anchor Investor Portion of the Offer through the ASBA process. For details, see “Offer Procedure” beginning on page 445 of the Red Herring Prospectus.

Kotak Mahindra Capital Company Limited, J.P. Morgan India Private Limited, Citigroup Global Markets India Private Limited, BofA Securities India Limited, Jefferies India Private Limited, ICICI Securities Limited and Avendus Capital Private Limited are the book running lead managers (“Book Running Lead Managers” or “BRLMs”) to the Offer.

Terms used but not defined herein shall have the meaning assigned to such terms as defined in the RHP.