Celebrated on the 21st of August every year, World Entrepreneurs’ Day recognizes innovation and global advancement of entrepreneurship and leadership. It is well established that high-potential entrepreneurship that drives jobs at scale is born out of a culture of innovation and risk-taking. Entrepreneurship also breeds job creators as against job seekers, a crucial and fundamental aspect of India’s economic growth.
తెలుగు సూపర్ న్యూస్ డాట్ కామ్, హైదరాబాద్, జూన్ 23,2022: యాక్షన్ కింగ్ అర్జున్ కూతురు హీరోయిన్ గా స్ట్రైట్ తెలుగు మూవీ ప్రొడక్షన్ నెంబర్ వన్ మూవీ రామానాయుడు స్టూడియో లో ఓపెనింగ్ జరిగింది. మూవీ ప్రారంభోత్సవానికి పవర్ స్టార్ […]
అనంతరం మీ బలం తెలుసుకుని పెద్దాయన జాడిచ్చి తన్నితే…గత్యంతరం లేకా ఢిల్లీ పార్టీకి దాసోహమంటివి..
అయ్యా..కూనంనేని సాంబశివరావు గారు ఒక్కసారి మీరు ఆత్మ విమర్శ చేసుకోండి…
మధిర లో పంట నష్టం జరిగితే..రైతుల పక్షాన మీ పోరాటం లేకపోగా…కేసీఅర్ వస్తే రెడ్ కార్పెట్ పరిచినవ్.. గులాబీ శ్రేణుల కంటే మొత్తం పెత్తనం నువ్వే చేసినవ్.పోనీ.. ఏమైనా బాధితులకు పంట నష్టం ఇప్పించావా అంటే ఇంతవరకు అతీగతీ లేదు.నీ వ్యక్తిగత స్వార్థం కోసం చేసిన పైరవీలు తప్పా…తమ కోసం పోరాడిన పరిస్థితి లేదనే విషయంన్ని మాకు ఆలస్యంగా బోధపడింది.
కొత్తగూడెంలో మీరు ఎమ్మెల్యే గా ఉన్న సమయంలో చేసిన అభివృద్ధి అంటే రామవరం బ్రిడ్జి..ఆఖరికి ఆ బ్రిడ్జి కూడా మీ స్వార్థ ప్రయోజనాల కోసం నిర్మాణం జరిగిందని తెలుసుకోలేని అమాయకత్వం మాది..
ఆర్. ఆర్ చికెన్ సెంటర్ వద్ద డౌన్ కావాల్సిన బ్రిడ్జిని…నీ వ్యాపారం కోసం అంటే నీకు చెందిన భారత్ స్కూల్ రోడ్డు కోసం ఎక్కడ ఎండ్ చేశారో ఇది కూడా ఆలస్యంగా మాకు బోధపడింది..
ఆ బ్రిడ్జిలో నాణ్యత అది కుంగినప్పుడే మాకు తెలిసింది..
సీపీఐ అంటే..అందులోనూ సాంబశివరావు అంటే ప్రజల పక్షం కాదు…డబ్బు పక్షం..
చివరిగా సాంబశివరావు గారు మీరు తెలుసుకోవాల్సిన ఒక నిజం కొత్తగూడెం నియోజకవర్గంలో పోటీ చేయడం మీ నాయకులకే ఇష్టం లేదు.. అందుకనే మీరు ఎప్పుడైతే పోటీ చేస్తున్నానని చెప్పారో అప్పటినుంచి ఇప్పటివరకు మీ పార్టీలో ఉన్న ప్రజా ప్రతినిధులు మీ షాడో పార్టీ అయిన వంటి బిఆర్ఎస్ లోకి అందరూ వెళ్తున్నారు…
నీకు తెలియని నిజం ఇంకొకటి ఉంది నీ పక్కన తిరిగే నీ రైట్ లెఫ్ట్ అని చెప్పుకుంటావే ఆ మనసే నీ ఓటమిని ప్రధానంగా కోరుకునేది ఇప్పటికే మీ ఏ టీం పార్టీ నుండి భారీగా ఆ వ్యక్తికి ప్యాకేజీలు అందాయి ఇది కొత్తగూడెం ప్రజలందరికీ తెలుసు నీకు ఒక్కరికి తప్ప…
మేము మీలా ఆత్మగౌరవం అమ్ముకునే స్థితికి దిగజారలేదు…ఎవడో విసిరిన ఎంగిలి ఇస్తరాకులు ఆశపడి,కక్కుర్తి పడి అమ్ముడు పోము..
Telugu super news,Mumbai, November 24, 2023: BITS Pilani’s technology business incubator, Pilani Innovation and Entrepreneurship Development Society (“PIEDS”), has announced the launch of its start-up program, ‘Womenpreneur for Bharat 1.0,’ in association with the Women Entrepreneurship Platform (WEP), incubated within NITI Aayog, and supported by Aditya Birla Capital Foundation, the CSR arm of Aditya Birla Capital Limited. Aditya Birla Capital Foundation is the apex body, which sets the strategic direction for all of Aditya Birla Capital’s development projects. The foundation has Mrs. Rajashree Birla as the mentor; Mrs. Vishakha Mulye, Dr. Pragnya Ram and Mr. Subhro Bhaduri serve as Directors of its Board.
‘Womenpreneurs for Bharat 1.0’ is aimed at providing funding and incubation support to women entrepreneurs who are building solutions for/from Tier 2/3/4 cities across Northeast region, Rajasthan, Haryana, and J&K. The program will seek both for-profit and non-profit women-led start-ups working across UN-SDG areas and solving business or societal challenges in those regions.
Commenting on the announcement, Mrs. Vishakha Mulye, Director, Aditya Birla Capital Foundation, and CEO of Aditya Birla Capital Limited, expressed, “We are committed to creating an equitable, inclusive, and long-term social and economic growth for the country. Through ‘Womenpreneurs for Bharat 1.0’, we aim to provide a platform to nurture the growth of women entrepreneurs in the country, who have the potential of impacting a large number of underserved Indians through innovative solutions.”
Prof. V. Ramgopal Rao, Vice-Chancellor, BITS Pilani, said, “India’s diversity across its length and breadth requires localized solutions from local entrepreneurs. I strongly believe that women innovators, especially from Northeastern states will lead the next wave of innovations in solving their region’s own unique problems. We are happy to partner with Women Entrepreneurship Platform and Aditya Birla Capital Foundation to help bring some of these innovations to the fore and help them scale.”
Speaking about the development, Ms. Anna Roy, Mission Director, WEP, said, “The project embodies a strategic approach to bolster women’s entrepreneurship in the tech4good sector which has significant market and impact potential, aligning with national goals of gender equality, women-led development, and digital inclusion. Women entrepreneurs leading innovations in critical development areas with a tech-led approach can have significant gains overall for business and society.”
The program would provide funding of up to Rs. 10 lakhs to eligible start-ups, along with extended incubation support from PIEDS, including 1-1 mentoring, market access support, and opportunities to raise future investments. Interested innovators can apply to the program here: https://www.f6s.com/womenpreneurs-for-bharat-1.0/apply
According to a research report published by Niti Aayog, India has 63 million micro, small, and medium enterprises (MSMEs), of which around 20% are women-owned, employing 22 to 27 million people. Estimates suggest that by accelerating women’s entrepreneurship, India could create more than 30 million women-owned enterprises, potentially creating 150 to 170 million jobs.
Telugu super news,Hyderabad,November 24rd, 2023:In November, National Diabetes Awareness Month in India, Dr.Reddy’s Laboratories Ltd., a global pharma major organised a two-week long educational and awareness campaign in rural India. Dr. Reddy’s has been in the forefront of the ongoing battle against diabetes in India for many years now.
In view of the urgent need for intervention in rural healthcare and particularly, raising awareness on diabetes management, the rural healthcare team of Dr. Reddy’s implemented a multipronged approach covering diagnostic, therapeutic, and awareness and educational programmes.
According to the Indian Council of Medical Research – India Diabetes (ICMR-INDIAB) national cross-sectional study, it is estimated that India has around 101 million people with diabetes and 136 million people with prediabetes1
Dr. Reddy’s diabetes campaign began with the distribution of patient educational material on diabetes to promote healthy lifestyle choices. Emphasising risk factors, symptoms, and effective management of diabetes, Dr. Reddy’s’ rural healthcare team conducted 3,600+ UDAY (Unite against Diabetes & Hypertension) camps, covering a total of 6,000+ villages in India.
These camps show Dr. Reddy’s commitment to address the diabetes crisis in rural India and facilitated the screening of 1.12 lakh patients for early identification of diabetes cases and those at risk.
Some of the villages that were part of the UDAY camps include: Madha, Indapur and Nilanga from Solapur (Maharashtra); Chandori and Rajapur from Nashik (Maharashtra); Shiroli and Murgud from Kolhapur (Maharashtra); Newasa Fata, Jamkhed from Ahmednagar district (Maharashtra); Koradacheri from Tiruvarur (Tamil Nadu), Pullambadi from Trichy (Tamil Nadu), Parangipettai from Cuddalore (Tamil Nadu),
Pottaneri from Salem (Tamil Nadu), Kelamangalam from Krishnagiri (Tamil Nadu); Dubbaka in Siddipet district (Telangana), Erravalli village in Kondapaka mandal (Telangana), Karepalli in Khammam district (Telangana) and Devaruppula in Jangaon district (Telangana).
Further, the campaign engaged around 45,000 rural doctors and healthcare professionals in scientific programmes to enhance their knowledge of therapy, treatment options, and lifestyle modifications in diabetes management. A webinar featuring renowned endocrinology expert Dr. Sanjay Kalra, Chairperson, Education working group, International Society of Endocrinology (ISE) provided crucial insights to empower rural India in diabetes management in regional languages.
A session by a nutritionist was an integral part of the webinar, offering insights into diet and lifestyle modifications crucial for effective diabetes management. Customized diabetes diet plans, specific to different regions of India, were shared with rural doctors and healthcare professionals to enhance patient care.
Telugu super news,November 24,2023:Published by the Financial Times – the world’s leading global business publication – Professional Wealth Management (PWM) specializes in analyzing the growth strategies of Private Banks and the regional financial centers in which they operate. The Global Private Banking Awards have firmly established themselves as the world’s most prestigious private banking awards and are now in their fifteenth year. Submissions are assessed by an independent panel of esteemed industry judges based in North America, Asia, Europe, and the Middle East.
The judges citation stated that they were impressed by HDFC Bank’s growth strategy last year, which led to a significant boost of its client base and considerable expansion of its Hub and Spoke locations across the country, coupled with innovative investor education initiatives. The judges also rewarded the Bank for its various education and training programmes for relationship managers, carried out in partnership with academic bodies, such as the Indian Institute of Management (IIM), Ahmedabad, and Bangalore.
Mr. Rakesh K Singh, Group Head – Investment Banking, Private Banking, International Banking, Digital Ecosystems and Banking as a Service (BaaS), said, “We are proud to receive the recognition from Professional Wealth Management (PWM). This award is a testament to the team’s commitment and the trust HDFC Bank enjoys from its clients. At HDFC Bank Wealth, we are firm believer that India possesses an investment potential beyond metros and semi-metros.
We are committed to democratise investments and making the best of investment products available to all. In our endeavour to develop investment markets across the country, we will continue the investor education initiatives by focusing on Mass Affluent and Super Affluent clients. Our ongoing investments in human capital, technology and enhanced customer experience will act as a catalyst in this endeavour. We also, believe that a well-informed investor possesses a greater ability to ‘Protect- Manage-Grow’ his/her investments”.
Telugu super news,Hyderabad, 24 November 2023:Platform 65, the largest toy train-themed restaurant celebrated the spirit of Thanksgiving by spreading joy and warmth. In a heartwarming gesture, recognizing the pivotal role customers have played in the restaurant’s journey, Platform 65 thanked them by giving away exclusive food hampers.
The restaurant distributed thoughtfully curated food hampers, each filled with a delicious assortment of holiday-inspired dishes, ensuring that families are able to enjoy a festive Thanksgiving meal together.
In addition to the food hamper, customers were surprised with a selection of goodies that added an extra touch of sweetness and delight to the occasion. The carefully crafted greeting cards, bearing heartfelt messages from the Platform 65 team, conveyed the spirit of thankfulness. The event was inaugurated in the presence of Mr. Srikanth Bandaru, Corporate General Manager, Platform 65, and V H Suresh, Corporate Executive Chef.
On this special occasion Mr. Sadhgun Patha, Managing Director of Platform 65, said “Our toy train-themed restaurant is not just about serving delicious meals, it’s also about creating a magical experience. Thanksgiving provided us with the perfect opportunity to give back to the community that has embraced us with open arms. Thanksgiving is a time for showing gratitude, and we are truly thankful for the support and love we have received from our customers.”
Mr. Venkatesh Gopisetty, Vice President of Platform 65, shared his thoughts on the occasion, “This initiative is a small token of our appreciation for the trust and loyalty our community has shown us. We hope these thoughtfully curated parcels bring joy and warmth to our customers during this special season.”
The success of the Thanksgiving event will reinforce the restaurant’s dedication to blending creativity with culinary excellence. As the holiday season unfolds, Platform 65 looks forward to continuing its tradition of gratitude and creating magical moments for its customers.
Telugu super news,National, November , 2023: MG Motor India, a British automobile brand with a 100-year-old legacy, today announced its collaboration with CHARGE ZONE, a prominent player in EV charging infrastructure, to bolster the EV ecosystem in India. This partnership, which is yet another initiative by MG to help build an accessible and efficient EV ecosystem in India, will help address the critical and widespread need in the country for a robust charging infrastructure to support the growing fleet of electric vehicles.
MG and CHARGE ZONE shall, over the coming months, jointly establish charging stations across key locations, including highways, cities, and MG dealerships. As part of the collaboration, both organizations will also work together to structure a preferential offer exclusively for MG customers. These charging stations will be open for public use by all EV owners and will seamlessly integrate into the CHARGE ZONE app, providing a unified platform for users to locate, access, and pay for charging services conveniently.
Gaurav Gupta, Deputy Managing Director, MG Motor India, “This strategic partnership reflects our commitment to sustainable mobility and our dedication to providing our customers with a seamless electric vehicle ownership experience. Our meaningful industry associations and partnerships, including this substantive collaboration with CHARGE ZONE, underscores our steadfast focus on building a charging infrastructure that supports the evolving needs of electric vehicle owners, providing them with convenient, efficient, and reliable charging solutions.”
Kartikey Hariyani, Founder and CEO, CHARGE ZONE, “In the realm of electric mobility, the need for a reliable high-speed charging infrastructure is paramount. Our partnership with MG Motor India signifies a shared vision to overcome the challenges that accompany this transformation. Building a nationwide network of charging stations is not merely a task; it’s an investment in the future of sustainable transportation. By joining forces, CHARGE ZONE and MG are laying the foundation for a connected and electrified India, where the charging experience is as reliable and forward-thinking as the vehicles it supports.”
MG Motor India is accelerating its commitment to establish an Electric Vehicle (EV) ecosystem in India with the introduction of a 6-way charging solution. This aids in facilitating convenient EV charging options for its customers. So far, the carmaker has installed a network of over 12,000 chargers.
Telugu super news,MUMBAI, November 24, 2023: Tata Consultancy Services (TCS) (BSE: 532540, NSE: TCS) has been ranked number two for customer satisfaction in Spain in an independent survey of 285 CXOs of top IT spending organizations by Whitelane Research.
The independent survey ranked the top 28 IT service providers based on an investigation of over 875 unique IT sourcing relationships and more than 1,050 cloud sourcing relationships to assess service providers on ten key performance indicators along service delivery, relationship, commercial and transformation. It also measured satisfaction by IT domains.
TCS rose to the number two position in Spain this year, up from its number eight position in 2022. The company received an overall satisfaction score of 83%, compared to the industry average of 78%, reflecting TCS’ strong performance across multiple dimensions. It ranked #1 in service delivery quality and commercial competitiveness; #2 in cloud and infrastructure services, application services and sustainability; and #3 in account management quality.
Maria Novoa, Country Head, TCS Spain, said, “We are pleased to be ranked number two in this customer satisfaction survey, putting us in the top rung of IT service providers in Spain. This is an outcome of our customer centricity. By focusing on the needs of our clients, and investing in building newer capabilities and a full services portfolio, and in research and innovation, we have become a trusted, all-weather partner that our clients can rely on to drive growth and transformation for them in good times, and to adapt and optimize during tough times. This achievement also serves to inspire and energize TCSers across Spain to find newer ways to create value for our clients here and further improve our standing.”
“It is no surprise that Tata Consultancy Services has been ranked amongst the organizations based on responses from business leaders from leading organizations operating in Spain,” said Jef Loos, Head of Sourcing, Whitelane Research. “TCS’ ranking at the top of our survey is the result of the trusted relationships they have built with their customers throughout their 20 years tenue servicing the Spanish market. TCS’ teams demonstrate an outstanding focus on innovation and customer satisfaction. TCS raises the bar in IT Services in Spain.”
Whitelane Research is an independent organization which conducts extensive European IT sourcing studies, as well as hosts events across the continent. In addition to publishing its individual country-specific reports throughout the year, Whitelane Research also publishes an annual Europe-wide report. Earlier this year TCS ranked #1 in customer satisfaction for the tenth consecutive year in Whitelane’s Europe-wide report for 2022/23.
· Raises Rs. 5.88 crore from the sale of 4.2 lakh equity shares with a face value of Rs. 10 at Rs. 140 per share
· IPO proceeds to be used for working capital requirements, brand positioning, marketing and advertising, and general corporate purposes
· Issue opens today, 22nd November 2023 and closes on 24th November 2023
· Corporate Capital Ventures Private Limited is the Book Running Lead Manager to the Issue
Telugu super news, Hyderabad, November 22, 2023: Rockingdeals Circular Economy Limited (RDCEL), India’s dedicated B2B sourcing platform for unboxed, certified refurbished, excess inventory products across the consumer retail space, has successfully completed its Anchor book subscription, raising Rs. 5.88 crore from the sale of 4.2 lakh equity shares at Rs. 140 each. A clutch of marquee investors, including Varsu India Growth Story Scheme I (Persistent Growth Fund), Astorne Capital VCC Arven, Nova Global Opportunities Fund PCC-Touchstone and Next Orbit Ventures Fund subscribed to the anchor book. Xmultiplied Capital Advisors also participated in the Anchor book subscription.
Name of the Anchor Investor
No. of Equity Shares allocated (at Rs. 140 each)
No. of Equity Shares allocated as a % of Anchor Investor portion
Varsu India Growth Story Scheme I (Persistent Growth Fund)
Astorne Capital VCC Arven
Nova Global Opportunities Fund PCC-Touchstone
Next Orbit Ventures Fund
While Varsu India Growth Story Scheme I (Persistent Growth Fund) and Astorne Capital VCC Arven each contributed 32.86% of the total anchor book subscription, the remaining 34.28% was equally shared by Nova Global Opportunities Fund PCC-Touchstone and Next Orbit Ventures Fund.
The IPO of the Faridabad-based company begins today, November 22nd, and will end on Friday, November 24th, 2023. Rockingdeals is looking to raise around Rs. 21 crores (on the upper price band) from the offering and plans to utilise funds for working capital requirements, brand positioning, marketing and advertising, and general corporate purposes. The company aims to be listed with NSE Emerge.
The price band of the issue is Rs. 136-140 per equity share with a face value of Rs. 10 apiece. The company’s IPO comprises a fresh issue of 15 lakh Equity Shares (Face Value Rs. 10/-) through the book-building route.
The company has allotted 7 lakh shares for Anchor investors and Qualified Institutional Buyers and 2.15 lakh shares for HNIs out of the overall issue size of 15 lakh shares. It has set aside 5 lakh shares for allotment to retail investors. The lot size is 1,000 shares. The company has appointed Corporate Capital Ventures Private Limited as the Issue’s Book Running Lead Manager.
RDCEL is among India’s largest organised players in the B2B sourcing space – specialising in unboxed, excess inventory, and refurbished products. The company sources products across 18 stock-keeping units (SKUs), including electrical appliances, apparel & footwear, speakers, mobile and mobile accessories.
The company has partnered with marquee brands and platforms, including Puma, Hindware, Godrej, Sanjeev Kapoor, Whirlpool, Salora, gizmore, BPL and Kelvinator, JBL, Khaitan, Inalsa, Acer, Redtape, Flipkart, ShopClues, Amazfit, Bajaj, Zara, Marshall, Dyson, etc. Besides, the company has affiliates of Snapdeal, Flipkart and Amazon for sourcing surplus inventory and open-box products.
RDCEL has also partnered with companies like GO Auto Salora International and dealers & distributors like Matrix Housewares, Raj Agency, Sudhi Enterprises, etc. RDCEL also procures the products in bulk from various dealers of Inalsa and supplies these products in bulk to clients such as Shopclues, Jindal Mega Mart, Brand Wala, VLE Bazaar, HIC International, PSUAVI, KRAT India, Zazz Technology, and Rockingdeals Group companies.
RDCEL operates a 30,000 Sq. Ft. warehousing facility in Faridabad and an L4 service centre with an installed capacity to QC & Grading one million units each month.
Telugu super news,Mumbai, November 21, 2023: Marking a significant milestone, The Honourable President of India, Smt Droupadi Murmu, today inaugurated the L&T Skill Training Hub at her hometown Pahadpur, Mayurbhanj in Odisha. The historic event was also graced by Ms Meena Subrahmanyan, President of Prayas Trust – an L&T-funded non-profit organisation, along with senior officials of L&T and the Odisha-based non-profit SLS Trust.
Commenting on the launch of project, Ms Meena Subramanyan, President of Prayas Trust said, “This training center will enable candidates to fully focus on learning and developing their skills in an enabling environment with a strong focus on life skills and personality development. We believe that empowering the underprivileged youth through accessible skill training is not just an investment for their future but a promise of a brighter and more inclusive tomorrow.”
The project, which includes operations and maintenance, is a significant opportunity for the tribal youth in the area, connecting them with opportunities beyond their immediate surroundings.
Complementing her comment, Ms Mabel Abraham, Joint General Manager – Corporate Social Initiatives, L&T, said: “Transforming dreams into opportunities, L&T is dedicated to making a lasting impact by equipping underprivileged youth with valuable skills. Our commitment to empower these young individuals is a testament to our vision for a more promising and inclusive society.”
The Skill Training Hub is equipped with contemporary infrastructure, featuring an administrative-cum-institute building, a multipurpose hall, an e-learning hall, a digital training room, separate hostels for both boys and girls (each accommodating 120 individuals), dining facilities, practice yards for various trades, and a dedicated workshop for learning pipe welding.
Additionally, the training center is equipped with state-of-the-art simulators with AR/VR technology to enhance the learning experience.
November 20, 2023: Flair Writing Industries Limited (the “Company”), shall open its initial public offering of Equity Shares on Wednesday, November 22, 2023.
The Company plans to raise funds through Equity Shares of face value ₹ 5 each aggregating up to ₹ 5,930.00 million [₹593 crore]. The offer comprises of fresh issue of Equity Shares aggregating up to ₹2,920.00 million [₹292 crore](“Fresh Issue”) and an offer for sale aggregating up to ₹ 3,010.00 million [₹301 crore](the “Offer for Sale” and together with the Fresh Issue, the “Offer”). The Company, in consultation with the Book Running Lead Managers, has undertaken a Pre-IPO Placement of 2,401,315 Equity Shares at an issue price of ₹ 304.00 per Equity Share (including a premium of ₹299.00 per Equity Share) for a cash consideration aggregating to ₹730.00 million [₹73 crore], on November 10, 2023. The size of the Fresh Issue has been reduced by ₹730.00 million [₹73 crore]and accordingly, the size of the Fresh Issue is up to ₹2,920.00 million [₹292 crore].
The Anchor Investor Bidding Date shall be Tuesday, November 21, 2023. The Offer will open on Wednesday, November 22, 2023 for subscription and will close on Friday, November 24, 2023.
The Price Band of the Offer has been fixed at ₹ 288 to ₹304 per Equity Share. Bids can be made for a minimum of 49 Equity Shares and in multiples of 49 Equity Shares thereafter.
The Company proposes to utilize net proceeds from the fresh issue towards (a) Setting up a new manufacturing facility for writing instruments in District Valsad, Gujarat – estimated amount is ₹ 559.93 million[₹55.99 crore], (b) Funding capital expenditure of the Company and Flair Writing Equipments Private Limited (“FWEPL”), one of its Subsidiaries – estimated amount ₹ 867.48 millions [₹ 86.75 crore], (c) Funding working capital requirements of the Company and its Subsidiaries, FWEPL and Flair Cyrosil Industries Private Limited (“FCIPL”) – estimated amount ₹ 770.00 million [₹ 77.00 crore], (d) Repayment/pre-payment, in part or full, of certain borrowings availed by the Company and its Subsidiaries, FWEPL and FCIPL – estimated up to ₹ 430.00 million [₹ 43 crore], and balance amount will be utilized towards general corporate purpose.
The Offer for Sale comprises of such number of Equity Shares aggregating up to ₹514.00 million [₹51.40 crore] by Mr. Khubilal Jugraj Rathod; up to ₹396.50 million by Mr. Vimalchand Jugraj Rathod; up to ₹323.00 million [₹32.30 crore] by Mr.Rajesh Khubilal Rathod; up to ₹ 323.00 million [₹ 32.30 crore] by Mr. Mohit Khubilal Rathod; up to ₹ 323.00 million [₹32.30 crore] by Mr. Sumit Rathod; up to ₹323.00 million [₹32.30 crore] by Mrs. Nirmala Khubilal Rathod; up to ₹323.00 million [₹ 32.30 crore] by Mrs. Manjula Vimalchand Rathod; up to ₹161.50 million [₹ 16.15 crore]Equity share by Mrs. Shalini Mohit Rathod; up to ₹161.50 million [₹16.15 crore]by Mrs. Sangita Rajesh Rathod and up to ₹161.50 million [₹16.15 crore]Mrs. Sonal Sumit Rathod.
The Equity Shares are being offered through the red herring prospectus dated November 16, 2023 (“RHP”) filed with the Registrar of Companies, Maharashtra at Mumbai (“RoC”) on and are proposed to be listed on recognized stock exchanges (the “Stock Exchanges”) being BSE Limited (“BSE”) and National Stock Exchange of India Limited (“NSE”). For the purposes of the Offer, NSE is the Designated Stock Exchange.
This Offer is being made in terms of Rule 19(2)(b) of the Securities Contracts (Regulation) Rules, 1957, as amended read with Regulation 31 of the Securities and Exchange Board of India (Issue of Capital and Disclosure Requirements) Regulations, 2018 as amended (“SEBI ICDR Regulations”). The Offer is being made in accordance with Regulation 6(1) of the SEBI ICDR Regulations and through the Book Building Process, wherein not more than 50% of the Net Offer shall be available for allocation on a proportionate basis to qualified institutional buyers (“QIBs”, and such portion, the “QIB Portion”). The Company may, in consultation with the Book Running Lead Managers, 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”), out of which at least one-third shall be available for allocation to domestic Mutual Funds only, subject to valid Bids being received from the domestic Mutual Funds at or above the price at which allocation is made to Anchor Investors. In the event of under-subscription, or non-allocation in the Anchor Investor Portion, the balance Equity Shares shall be added to the the remaining QIB 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 QIB other than Anchor Investors, including Mutual Funds, subject to valid Bids being received at or above the Offer Price. Further, not less than 15% of the Net Offer shall be available for allocation to Non-Institutional Bidders such that: (a) one-third of the portion available to Non-Institutional Investors shall be reserved for applicants with an application size of more than ₹0.20 million and up to ₹1.00 million, and (b) two-thirds of the portion available to Non-Institutional Investors shall be reserved for applicants with an application size of more than ₹1.00 million, provided that the unsubscribed portion in either of such sub-categories may be allocated to applicants in the other sub-category of Non-Institutional Investors, subject to valid Bids being received at or above the Offer Price. Further, not less than 35% of the Net Offer shall be available for allocation to Retail Individual Bidders in accordance with SEBI ICDR Regulations, subject to valid Bids being received at or above the Offer Price.
All Bidders, other than Anchor Investors, are required to mandatorily utilise the Application Supported by Blocked Amount (“ASBA”) process by providing details of their respective bank account (including UPI ID (as defined hereinafter) in case of UPI Bidders) which will be blocked by the SCSBs or the Sponsor Banks as applicable, to participate in the Offer. Anchor Investors are not permitted to participate in the Anchor Investor Portion through the ASBA process. For details, see “Offer Procedure” beginning on page 427 of the RHP.
Nuvama Wealth Management Limited (formerly known as Edelweiss Securities Limited) and Axis Capital Limited are the book running lead managers to the Offer.
All capitalised terms referred to in this press release that have not been defined shall have the same meaning as prescribed in the RHP.