Bright News

  Shapoorji Pallonji group’s flagship infrastructure engineering and Construction Company, Afcons Infrastructure Limited (AIL),   has filed its draft red herring prospectus (DRHP) with the market regulator, Securities and Exchange Board of India (SEBI), to raise funds through an initial public offering (IPO).   The IPO, with a face value of Rs 10 per equity share, is a mix of fresh issue of shares of Rs 1,250 crore and an offer for sale of up to Rs 5,750 crore by Goswami Infratech Private Limited. The offer includes a reservation for subscriptions by eligible employees. As per the market sources, it is the largest infra IPO in a decade.   The company, in consultation with the book-running lead managers, may consider undertaking a further issue of equity shares through a preferential issue or any other method for a cash consideration aggregating up to Rs 250 crore as a "pre-IPO placement.". If such placement is completed, the fresh issue size will be reduced.   T...

  Ignite winners – Enlite and Clairco will have the opportunity to receive strategic funding Ignite and Accelerate Winners to work with Panasonic to jointly transform Energy Management Solution for commercial spaces Mumbai, March 29, 2024: Panasonic Life Solutions India (PLSIND), a leading diversified technology company, today announced Enlite and Clairco as the winners of its first cohort of Panasonic Ignition program. Enlite focusing on AI-enabled wireless building management system and Clairco that develops IoT-based smart air purification devices & space optimization solutions will receive strategic funding and an opportunity to work with Panasonic business teams for development and implementation. Ignition program in partnership with 100x.VC is a corporate innovation initiative that was introduced last year to develop solutions for real-life challenges focused around Energy Management Systems for Commercial Spaces . The two Ignition winners will receive Corporate Venture...

  Federal Bank’s senior executives including Shyam Srinivasan, MD & CEO held discussions with Shri.Hardeep Singh Puri, Honorable Minister of Housing & Urban Affairs and Petroleum & Natural Gas, Government of India, on Banking Prospects and Collaborative Initiatives.

  It has been decided that the Offices under jurisdiction of Zones and Divisions will be kept open for normal operations as per official working hours on 30.3.2024 and 31.3.2024, in order to avoid any hardship to the policyholders. This is as per the advisory issued by Insurance Regulatory and Development Authority of India (IRDAI) dated 28.3.2024.

  Mumbai, March 28 th , 2024  – IIFL Home Finance Ltd. (IIFL HFL), a leading housing finance company in India, is proud to announce its strategic  founding role  in transforming the country's mortgage market. As a   founding member  of the RMBS Development Company Limited (RDCL) consortium, IIFL Home Finance will be contributing ₹ 25 crore for a 5% stake, alongside leading financial institutions committed to driving liquidity and growth in the residential mortgage-backed securities (RMBS) market. This initiative marks a significant shift towards a  bond market-driven approach  to housing finance, similar to successful models in developed countries.   RDCL brings together major players like ICICI Bank, HDFC Bank, Bajaj Finance, Shriram Housing Finance, Aditya Birla Housing Finance, Hero Housing Finance, and Grihum Housing Finance Limited, with major shareholding from National Housing Bank (NHB) (39%) and LIC (10%). Together, the consortium has...

  •   Kinetic Green delivers 130 E-Luna for Last Mile Deliveries at Pune, to Safe and Secure Delivery Solutions, Big Basket's Delivery Partner • Expects large business of 50,000 E-Luna for E-commerce deliveries in 2024-25 • Company has launched a special Corporate Program called E-Luna Fleets to provide E-Luna, as a Complete Solution for the fast emerging the gig economy   Pune  27th March 2024 : Kinetic Green, a leading Indian electric vehicle manufacturer, marks a significant milestone with the delivery of a 130-strong fleet of its highly anticipated E-Luna electric scooters to Safe and Secure Delivery Solutions, the official delivery partner of India's leading online grocery store, Big Basket. This landmark collaboration signifies not just the growing adoption of electric mobility, but also the E-Luna's resounding success across various customer segments, both as personal mobility vehicle and as a preferred vehicle for the growing gig-economy.    This gr...

  Kolkata-based Leading Student Recruitment Solution Provider, Crizac Limited, offering international student recruitment solutions to global institutions of higher education in the United Kingdom, Canada, the Republic of Ireland, Australia, and New Zealand (ANZ),   has filed its draft red herring prospectus (DRHP) with the market regulator, Securities and Exchange Board of India (SEBI), to raise funds through an initial public offering (IPO).   The IPO, with a face value of Rs 2 per equity share, is entirely an offer for sale of up to Rs 1,000 crore by the promoter selling shareholders.   The offer for sale consists of the sale of equity shares of up to Rs 841 crore by Pinky Agarwal and up to Rs 159 crore by Manish Agarwal. The offer includes a reservation for subscription by eligible employees.   The offer is being made through the book-building process, wherein not more than 50% of the net offer shall be available for allocation on a proportionate b...

  P N Gadgil Jewellers Limited, the second largest among the prominent organised jewellery players in Maharashtra, in terms of the number of stores as on January, 2024, which is the largest market for BIS-registered outlets in India has filed its Draft Red Herring Prospectus   (“DRHP”)  with market regulator Securities and Exchange Board of India   (“SEBI”). The Company’s initial public offering comprises a fresh issue of equity shares of face value of ₹ 10 each  aggregating  up to ₹ 8,500 million and an offer for sale of equity shares of face value  of ₹ 10 each aggregating up to ₹ 2,500 million.  The total offer size comprises of equity shares of face value of ₹ 10 each aggregating up to ₹ 11,000 million. The offer for sale comprises of equity shares of face value of ₹ 10 each aggregating up to ₹ 2,500 million by SVG Business Trust (Promoter Selling Shareholder). The funds raised through the IPO are proposed to be utilized for the funding of exp...

  ~ Shopsy’s biggest shopping festival of the year witnessed over 2x spike in customers and orders ~   Tshirts, Saree, Bedsheets, and Kurtis  were most in demand ~ The seller growth during the fourth edition of The Grand Shopsy Mela jumped by  2x Bengaluru - March 26, 2024:  Shopsy by Flipkart, India’s fastest-growing hypervalue e-commerce platform,  concluded the fourth edition of The Grand Shopsy Mela, from the 12th to 17th of March, offering value products at affordable prices. In a testament to this, Shopsy offered over  16 crore+ products  with free delivery and great prices.   This is the  4th edition  of Grand Shopsy Mela and it clocked  more than 2x surge  in daily demand and new customers. Catering to the remotest regions of the country, Shopsy witnessed increased customer demand in Tier 2 and Tier 3 markets such as  Cuttack, Guwahati, Gorakhpur, and Mysore   which emerged as key contributors. ...

Mumbai, 26 March, 2024: Mumbai-based robotics team, Team Paraducks, has become a source of immense national pride after securing a spot at the FIRST Robotics World Championship in Houston, Texas. This marks the first time an Indian team has qualified for the global competition based solely on their exceptional engineering skills, achieved during their very first year competing.   Aakrit Agrawal, grade 9 from Cathedral John Connon School, lead his team - Paraducks, as the robot driver to the Halic Regional Championship in Istanbul, Turkey. The team comprised of 20 passionate students from nine different Mumbai schools, triumphed at the Haliç Regional Championship in Istanbul, Turkey. Their journey wasn't without its challenges. After facing initial setbacks, the team displayed remarkable resilience, going on a winning streak that propelled them to the semi-finals and ultimately, victory in the finals. They even secured the prestigious "Excellence in Engineering Award" at...

  Public sector behemoth Life Insurance Corporation of India is the strongest insurance brand, as per a report released by Brand Finance Insurance 100 2024. The report notes that LIC's brand value remains steady at USD 9.8 billion, accompanied by a brand strength index score of 88.3 and an associated AAA brand strength rating. Following LIC, the rankings highlight Cathay Life Insurance as the second strongest brand, experiencing a 9% increase in brand value to USD4.9 billion, closely followed by NRMA Insurance, which saw an 82% rise in brand value to USD1.3 billion. Notably, Chinese insurance brands maintain dominance in the global rankings, with Ping An leading with a 4% increase in brand value to USD33.6 billion, followed by China Life Insurance and CPIC defending their 3rd and 5th positions, respectively. Allianz from Germany and AXA from France retain their spots in the 2nd and 4th positions to complete the Top 5. Among the brands experiencing significant growth in bran...

Poly headsets, earbuds, and speakerphones now available in 130 HP World Stores News Highlights:     ∙ Poly products to be sold through 750+ HP World Stores in the coming  weeks      ∙ First time Poly products being available to retail  consumers     ∙ T otal of 13 SKUs being listed in the HP World Stores across India         India, March  26 , 2024   —   HP today announced the availability of Poly products  in  select HP World Stores across   India , offering customers a wide range of cutting-edge audio solutions.  The range of Poly products available in   these stores include...