Yes Bank Raises Rs. 1,930 Crores Through Qualified Institutions Placement (QIP) Route

Yes Bank, pursuant to the allotment of its equity shares on August 15, 2019, has raised Rs. 1930 crores through the Qualified Institution Placement (QIP) route. The QIP opened on August 08, 2019 and closed on August 14, 2019.

The Bank allotted 23.1 crores equity shares of face value of Rs. 2 each to eligible qualified institutional buyers (QIBs) at Rs 83.55 per Equity Share, in accordance with the pricing formula provided under Regulation 176(1) of the Securities and Exchange Board of India (Issue of Capital and Disclosure Requirements) Regulations, 2018.

The QIP increases the Bank’s Total Capital Adequacy Ratio to 16.2%*, Tier I Ratio to 11.3%* and Core Equity Tier I Ratio to 8.6%*, ensuring that the Bank remains capitalized well above the regulatory limits.

*Post QIP Issuance considering position as at June 30, 2019(including profits for the Q1FY20)

The issue saw strong response from foreign as well as from domestic QIBs. The overall allocation to foreign institutional investors is approximately 34% from USA/Europe, 40% from Asia, and balance from domestic insurance companies and mutual funds highlighting a well-diversified representation and demand from across the world. The QIP also enables a further diversification of the shareholder base of YES BANK.

CLSA India Private Limited, JM Financial Limited, Motilal Oswal Investment Advisors Private Limited, Prime Securities Limited and YES Securities (India) Limited were the Global coordinators and Book Running Lead Managers to the QIP issue. The Legal Advisors to the transaction were AZB & Partners, Linklaters Singapore Pte. Ltd. and L&L Partners (formerly known as Luthra & Luthra Law Offices). The Statutory Auditors were BSR & Co LLP.

On the successful completion of the equity allotment, Ravneet Gill, Managing Director and CEO of YES BANK, said, “We are delighted with how our fund raise has been supported by marquee global and domestic investors. We maximised the size to the extent of the (up to) 10% dilution limit currently approved by our shareholders. The success of the QIP is extremely satisfying given the strong global and domestic headwinds and a credit environment beset with challenges. We see this as a strong endorsement by the investor community of the inherent strengths of the YES BANK franchise and its future growth prospects.”

Legal Disclaimer:  These materials are not for distribution, directly or indirectly, in or into the United States (including its territories and possessions, any State of the United States and the District of Columbia). These materials do not constitute or form a part of any offer or solicitation to purchase or subscribe for securities in the United States. The Securities mentioned herein have not been, and will not be, registered under the United States Securities Act of 1933 (the “Securities Act”).

The Securities may not be offered or sold in the United States except pursuant to an exemption from the registration requirements of the Securities Act. There will be no public offer of securities in the United States.

Voltas.Beko Launches India’s First 5 Star Rated Washing Machines

Voltbek Home Appliances Private Limited (Voltbek) - a JV between India’s No. 1 AC Brand, Voltas and Europe’s leading free standing consumer durables player, Arçelik, launched India’s first 5 Star rated washing machines today. These products provide superior wash quality with minimal water usage and are energy efficient. The brand Voltas.Beko has an extensive range of 5 star rated products including 21 models of Twin Tub, Semi-automatic Washing Machines with Dual Power Rain feature and 2 models of Front Load Washing Machines.

This range of washing machines incorporate Voltas.Beko’s state-of-the-art energy efficient technologies including:

* ProSmart Inverter Motor technology which helps the washing machine provide superior energy efficiency, low mechanical friction, lowers noise levels and improves durability.
* 5 Star rating – Consumes less energy and water, provides better washing
* Home Whiz – Internet enabled machine, connect and operate the washing machine from your smart phone

Speaking on this occasion, Mr. Pradeep Bakshi, Managing Director & CEO, Voltas Limited, said, “As a Tata group Company, we have always endeavored to be a frontrunner in introducing technologically advanced products in the market. Right since the introduction of the first energy efficient ACs in 2007, we have ensured that our products are customer centric, made for India, environment friendly and technologically superior. Our 5 star rated washing machines provide customers with superior wash quality with minimal water consumption, and are also available at very attractive prices. With this launch, Voltas.Beko has reinforced its commitment to the environment by bringing the latest IoT enabled green technology to the Indian market.”

Sydney Local Health District Improves Treatment of Back Pain Using Qlik-Powered App

Qlik has announced Sydney Local Health District (SLHD) has utilized the Qlik platform to power its award-winning STARS (Sydney Local Health District Targeted Activity and Reporting System) Back Pain App. The app enables healthcare professionals to treat lower back pain by delivering meaningful data to the frontline.

It is estimated that 540 million people worldwide are affected by back pain at any one time, while in Australia more than 3.7 million people experienced this type of pain. A study by Monash University, indicated that back pain reduces Australia’s GDP by $3.2 billion a year. Within NSW alone, emergency departments (ED) see 50,000 patients for back pain annually. Of these patients, 70 per cent are given opioids despite known harms, 30 per cent receive unnecessary imaging, and 17 per cent are admitted to hospital. These practices are discordant with guideline recommendations.

The STARS Back Pain App provides ED clinicians with key information relevant to the management of lower back pain, whilst also efficiently providing a mechanism to identify and explore any clinical variation. The app is driving positive changes in clinical practice through audit and continuous feedback, helping to avoid the inappropriate use of tests and treatment for lower back pain, which in the past has included the prescription of dangerous opioids.

Benchmarking the Treatment of Lower Back Pain

To create a benchmark, the team set out to collate a strong dataset of existing options for lower back pain management. Standard information such as patients’ demographics, diagnoses, allied health service review, pain medicines used, pathology tests, diagnostic imaging, costs of care and patients’ admission status are all routinely collected in a variety of electronic medical record systems.  Where the STARS Back Pain App differentiates itself is its ability to link these previously siloed data sets in a governed, near real-time manner and present the information back to clinicians through an intuitive interface.

“Building this application in Qlik has brought people in our organization together and started some really valuable conversations. Through the collaboration of our research team with the clinicians and performance unit, we can now see what part of the intervention worked, what didn't, and what we can change moving forward. One of the best things about this app is that each individual can ask their own questions, interrogate the data, and arrive at conclusions without doing extensive and time-consuming audits,” said Dr Bethan Richards, Director of Rheumatology at RPA Hospital who led a multidisciplinary team of clinicians, researchers and IT specialists, to design the STARS Back Pain App.

Information Sharing to Improve Patient Outcomes

In use across three participating emergency departments across NSW including RPA Hospital, Concord Repatriation General Hospital and Canterbury Hospital, the STARS Back Pain App provides clinicians with a summary of patients with lower back pain while highlighting clinical variations. Through access to the app, healthcare professionals can now compare data across hospitals, which ignites conversations about trends, prescription rates and overall patient care.

“With the type of benchmarking now available, clinicians can see how they're performing against other hospitals,” said Charlie Farah, Director, Healthcare & Public Sector APAC at Qlik. “This leads to changes in behavior without intervention. Healthcare professionals have been empowered to start asking questions on their own and debunk myths they have about their performance: Why are we different? Is it that we're getting sicker patients at this hospital versus another hospital? The data initiates a conversation and starts to create its own momentum.”

Initiating Actionable Change

In addition to having access to the data, the SLHD team knew clinicians needed the tools necessary to act on the information and trends they were identifying. A new model of care for back pain was implemented and educational resources for both doctors and patients were created to help encourage the use of other effective, safe, pain management strategies rather than simply using strong opioid medicines. Having access to data also empowered clinicians to provide counsel to their patients on possible treatments and recovery timelines, thus enabling them to make more informed decisions.

“Data can be used for evidence-based management of back pain, which means we can ensure our patients are receiving the best care possible. In addition, clinicians are more likely to use the platform because it gives them a view on their own real-world data. The data is in front of them and ready to be leveraged. The app has already changed the way clinicians in our trial are treating patients,” said Dr Gustavo Machado, Research Fellow at the Institute for Musculoskeletal Health’s NHMRC who led the emergency department trial of the app.

Building on the success of the STARS Back Pain app, SLHD is currently working with the NSW Agency for Clinical Innovation on rolling it out across all NSW emergency departments and has commenced work with Monash University to begin a similar project in Victoria. Moving forward, the District is also looking at other ways to extend the use of technology and analytics outside of back pain to other areas of clinical practice which could benefit from such analytics and insights.

Trend Micro Nurtures Global Cyber Security Talent Development

Trend Micro Incorporated, a global leader in cybersecurity solutions, today announced its fifth annual Capture The Flag (CTF) competition. The Trend Micro CTF 2019 – Raimund Genes Cup invites teams from around the world to test their skills in today’s most critical areas of security risk. This cornerstone event is one of many ways Trend Micro is working to equip cybersecurity talent in the workforce.

The annual global CTF helps participants develop and hone their skills in today’s most critical areas of need, including forensics and exploitation, IoT, reverse engineering, open source intelligence, mobile, and machine learning. Teams face challenges that involve these key areas, providing real-world practice with critical scenarios.

“Without enough equipped professionals across the globe to actually implement security solutions for all businesses, then the attackers will win,” said Hernan Armbruster, senior vice president, Americas & Strategic Products for Trend Micro. “Growing talent across the board is a necessity to help the world be safer for exchanging digital information. As an industry leader, we strive to do our part to add strong practitioners through this event along with many other global initiatives.”

This year’s Global CTF consists of two rounds, an online qualifier and the finals. Taking place on September 7-8 (Japan time), the online qualifier will include Jeopardy style questions that challenge teams to solve various security problems quickly. The top 10 teams will qualify for the finals, which will take place in Tokyo, Japan on November 23-24. This year’s finals will utilize a new “Dynamic Value” Jeopardy format to further test the teams’ skills.

The winning team from the finals receives JPY1,000,000, which is about USD $9,000. Additionally, each player from the winning team receives 15,000 Zero Day Initiative Rewards Program points, which helps program submitters earn exclusive awards and benefits. The second and third place teams receive JPY300,000 and JPY200,000, which is nearly USD $3,000 and $2,000 respectively.

“A lack of qualified professionals is the most consistent security concern we hear from businesses,” said Mark Liggett, senior security analyst from Tulane University. “Trend Micro is one of very few global companies that is actively working to help change this. Equipping new professionals from all walks of life is key to helping more businesses effectively manage their security stack and mitigate the risk of attack.”

Trend Micro hosts and supports more than 50 similar competitions each year around the world, including the main global event, and hosts 15 contests in collaboration with the Organization of American States, which are specific to women across the Americas.

Additionally, the company recruits and trains new cybersecurity professionals in five global centers around the world. In total, these centers will support the development of more than 2,500 new cybersecurity professionals by 2022.

To further grow diversity and skills in the industry, Trend Micro is also a global partner with Girls in Tech to encourage security education among their network of female professionals.

To register a team for the online qualifier, please visit: https://www.trendmicro.com/en_us/campaigns/capture-the-flag.html.

Five Gifting Ideas for Men’s Grooming Day Celebration on August 19!

August 19 is celebrated as ‘Men’s Grooming Day’. So, here is an easy guide on choicest gifts you could offer grooming conscious gentleman in your life. Right from accessories to grooming kits, perfumes and much more!

1)  Park Avenue Gift set

Add to his accessory collection by gifting him the Park Avenue Gift set that is available in various colours. The set includes a tie in an unconventional design with matching cufflinks adorned with a semi-precious stone. It comes in a sleek gift box adding to its regal appeal.

Price – Rupees 1,350

2) Forest Essentials Gift Box

Especially curated for men, this comprehensive grooming collection features high-performance  skin care essentials including a Face Wash  made with gentle, naturally derived foaming agents that leave the skin feeling clean without drying it out, a hydrating Moisturizer and an After shave spray infused with Sandalwood & Orange Peel.  It is the perfect gift for the men who like to take care of their skin.

Price- Rupees 4,275

3) Park Avenue Grooming Gift Collection

The Park Avenue Grooming Gift Collection includes a shaving gel, deo, after-shave lotion, face wash, styling gel and beer shampoo.  All which are absolutely necessary for a gentleman who values being well-groomed.

Price- Rupees 748

4) Raymond Gift Box

This gift box by Raymond includes a tie, cufflinks coupled with Raymond Eau De Parfum (50ml). It is the perfect gifting solution for grooming conscious men. A tie and cufflinks help a man look dapper whereas the right fragrance adds to the appeal of the entire ensemble.

Price - Rupees 2,499

5) Beardo Combo Gift Box

Beardo Gift Box contains the essentials required for maintaining a good beard. It is indeed one of the important aspects of grooming with regards to men.  It contains a beard oil, beard wash and a moustache wax stick.

Price- Rupees 980

JK Tyre Expands India Footprint with the Opening of 500th Brand Shop

In a landmark achievement bolstering its position as the definitive leader in the Indian tyre industry, JK Tyre & Industries Ltd inaugurated its 500th Brand Shop – JK Tyre Steel Wheels Centre in Muzaffarpur, Bihar. Strengthening the tyre major’s PAN India network, the launch is a reaffirmation of JK Tyre’s vision of expanding its visibility and availability across the country to efficiently cater to the expanding car and SUV tyre segment. 

JK Tyre’s Brand Shops are purpose-built with customer centricity at their core and serve as a one-stop destination for the company’s all-round tyre portfolio and innovative service solutions. With a strategy in place to be available where its customers are, JK Tyre’s Brand Shops are already present in all metros as well as commercial hubs in India. The company is now aggressively expanding its presence across Tier 2 cities and towns to ensure availability to its brand loyalists in the country’s hinterlands.

Concurrently, JK Tyre is ramping up its R&D investments to lead by innovation and reinventing the tyre. To this end, JK Tyre recently ventured into the world of connected mobility with the launch of Smart Tyre technology - TREEL Sensor. These sensors are now available across the network of JK Tyre’s 500 brand shops in India.

Commenting on the occasion, Mr. Vikram Malhotra, Marketing Director, JK Tyre & Industries Ltd said, “We are delighted to celebrate the milestone opening of our 500th brand shop, JK Tyre Centre in Muzaffarpur. As pioneers of radial technology in the country, this adds yet another feather to our cap and is a testimony to our commitment to providing top-of-the-line customer experience with a widespread presence across India. It is our vision to build the most robust retail network to optimize our availability in every location where demand exists. In less than two years, we have added over 300 brand shops, a reflection of our leadership in the after-sales market. We are confident that our expansive retail network will bring our brand closer to our customers and add cheer to their lives through new products offerings and innovative solutions.”

In 2016, JK Tyre became the first Indian tyre manufacturer to sell 10 million Truck and Bus radial tyres in India. JK Tyre has evolved as a 360-degree service solutions provider and is currently the No. 1 franchise network that provides tyre care solutions through its network of service centres spread across the country. With the inauguration of this Steel Wheels Centre, the company now has 372 Steel Wheels and 128 Xpress Wheels Centers in India.  

Puravankara and Makkala Jagriti to Give Government School a Makeover

With a growing focus on supporting and providing education with a meaning, Puravankara has always been in the forefront to leverage the existing capabilities and expertise of various organisations to create viable impact in the community. On the similar lines Puravankara Limited and the Makkala Jagriti, a non-governmental organisation (NGO) today come together to give the government school at Hunasamaranahalli village in Bangalore a new look.

On August 15, 2019 Puravankara Limited completes 44 glorious years on the realty landscape of India. To celebrate this momentous number, the employees of Puravankara and Makkala Jagriti visited the government school at the Hunasamaranahalli village with an intent to create a conducive learning environment which motivates the students to learn quickly.

The employees of Puravankara along with employees of Makkala Jagriti took on the clean-up drive in and around school. The employees painted murals on the walls of the premises under the guidance of an artist. The theme was sports & learning, and the employees depicted different sport activities, yoga and games (that enhance reading, writing, listening and speaking skills) in the murals.  The objective is to bring in information about the subjects they are taught in school and to have a better understanding of the topics.

Speaking on the collaboration Amanda Puravankara, Director of Provident Housing Limited, said, “We, at Puravankara, firmly believe that education is the first step to building a good society. Quality education is like a strong foundation. This initiative aligns with our Founder and Chairman Ravi Puravankara’s vision of giving back to the society through education of the children. We are glad to partner with Makkala Jagriti to make the learning more fun and engaging for students and at the same time give our employees a platform to engage with communities. Going forward, Puravankara will continue on the path of being committed to being a valued partner in the community and contribute viability to create a lasting impact in larger ecosystem. Starting from this year, the Week of 15th August, every year, will be deemed as the ‘Week of Giving’ and we will take this program to every city across the country.”