Through the coordination of science and spirituality, the message of world peace was conveyed to the whole world

 World Peace Ambassador Dr. Vishwanath Da. Karad

Mumbai, Dt. May 2: We spread the message of world peace to the world through the coordination of science and spirituality. It is necessary to include education with universal values in education. Vishwashantidoot Dr. Karad is of the opinion that it will help to create an environment of Vasudhaiva Kutumbakam and world brotherhood. Vishwanath D. Karad expressed. Dr. Brigham Young University in America. He was speaking while giving information at a press conference organized to give information about the awarding of Honorary D.Litt. degree to Karad.

 By successfully spreading the philosophy of Saint Shri Dnyaneshwar Maharaj and Saint Shri Tukaram Maharaj, the message of harmony of science and spirituality of the sage Swami Vivekananda and the message of world peace to the world, the founding president of MIT World Peace University and the head of UNESCO Adhyasana and ambassador of world peace Prof. Dr. Vishwanath Da. The delegation led by Karad arrived home on Thursday, May 2, 2024.

After accepting the deletion, Prof. Dr. Vishwanath Da. Karad said, “It is necessary to include education with universal values in education. That alone will help create an atmosphere of Vasudhaiva Kutumbakam and universal brotherhood. Mind, intellect, soul and body are nature principles. Today, body and mind are being thoroughly researched. But the education of soul and mind is not considered. If there is to be peace in the world, it is necessary to study the mind and soul along with spirituality." He expressed this opinion at this time.

Vishwadharmi Prof. Dr. Vishwanath Da. A delegation led by Karad had left for the UK and the US from April 18 to 30. In this delegation, Executive President of MIT WPU Prof. Rahul Vs. Karad, Vice-Chancellor Dr. R. M. Chitnis, Pro Vice-Chancellor Dr. Dr. Milind Pandey, Former Vice-Chancellor of Nagpur University. SN Pathan, Dr. Mahesh Thorve and Principal Prof. Milind Patre was present.

Dr. Brigham Young University in America. Karad with Honorary D.Litt

On Thursday, April 25, Brigham Young University (BYU) in the state of Utah, USA, honored Prof. Dr. Vishwanath Da. Karad received an honorary D.Litt. was honored by conferring the degree. On this occasion, BYU President C. Shane Rees, Prof. Dr. Vishwanath Da. Karad's outstanding work in the field of education was appreciated. It also supported their efforts to establish world peace through interfaith dialogue.

Airbnb introduces Icons— Bollywood Star Jahnvi Kapoor opens the door to her legendary, never-before-seen family home in Chennai

 

Mumbai, India, 2 May 2024: Today, Airbnb is introducing Icons, a new category of extraordinary experiences hosted by the world’s greatest names in music, film, television, art, sports, and more. Icons take you inside worlds that only existed in your imagination—until now. Sleep in the Ferrari Museum. Stay in Prince’s Purple Rain house. Spend a day at Bollywood Icon Janhvi Kapoor’s coastal abode. Today, we're unveiling the first 11 Icons on Airbnb, with new experiences dropping around the world throughout the year.

 

“Icons bring to life experiences that are magical and truly beyond imagination,” said Amanpreet Bajaj, General Manager, Airbnb India, Southeast Asia, Hong Kong and Taiwan. “As part of the Icons launch, we are thrilled to partner with Janhvi Kapoor for this special campaign, which will offer an unprecedented glimpse into Janhvi's coastal beach home,” he added.

As part of the launch, Bollywood superstar Janhvi Kapoor is opening the doors to her family’s estate in Chennai for an experience unlike any other. Known for her charming performances on screen, Janhvi will welcome two sets of two guests each at her coastal abode as a part of this special promotional campaign.

 

About the home: Janhvi Kapoor’s Beachside Paradise

Nestled on four acres of serene beachfront, Janhvi Kapoor’s coastal home is a sanctuary of tranquility and warmth. The home has been the stage for many childhood summers spent with her dear family and will now be available to select Airbnb guests for the first time ever. Guests will have the privilege of immersing themselves in the rich tapestry of the Kapoor family legacy and be able to unwind like their favorite Bollywood star during their stay.

 

Janhvi will personally greet the guests and escort them on an exclusive tour of her home. From the hand-crafted marble lotus sculpture gracing the entrance of the home and ushering in positive energy and good luck, to the expansive interior spaces styled in bamboo, rattan, and marble, the entire home is designed for ultimate relaxation. Within the heart of the home lies the minimalist living room, the dining area rich with cherished family memories, Janhvi’s dressing room where she develops her natural skincare treatments and the airy master bedroom. Towards the back of the house lies a vast garden dotted with palm trees and fountains, with an expansive swimming pool and shaded gazebo offering an idyllic spot to relax and enjoy an alfresco sunset.

 

“My most cherished memories are of summers spent with my family at our Chennai home. This place has always felt like a sanctuary, and I want to share this special feeling with my fans, which is why, for the first time ever, I’m opening the doors to our home on Airbnb. I’m excited to share our family’s rituals with Airbnb guests who will get a chance to unwind like the Kapoors - chilling by the pool, enjoying some of our favorite meals, practicing yoga, trying my mother’s natural skin care recipes, and most importantly, making special memories. I am thrilled to be a part of Airbnb’s Icons category and look forward to welcoming Airbnb guests’ home,” shared Janhvi Kapoor.

 

About the stay: Live like Bollywood star Janhvi Kapoor

Through this experience, fans will not only get a chance to meet Janhvi but also spend a day in her life, doing the things she enjoys the most. Elements of the stay include:

Embarking on a private tour of the house with Janhvi as she shares her cherished memories from the times spent here.

Indulging in relaxation as Janhvi unveils her all-natural skincare routine and spills her top Bollywood beauty secrets.

Savoring the flavor of South Indian cuisine with Janhvi’s favorite dishes, including Ghee Podi Rice, Andhra Biryani, Pesarattu Dosa and Palkova.

Awakening the senses with a morning yoga session amidst breathtaking vistas, followed by a delectable breakfast.

Treasuring personalized keepsakes from Janhvi as mementos of this once-in-a-lifetime experience.

 

How to book:

Requests to book open at 6.30 pm IST on May 12, but the countdown begins on May 9. So, stay tuned![1]

Two groups of two guests each will have a once in a lifetime opportunity to book these stays at ₹0.

Guests will be responsible for their own travel to and from Chennai, India.

 

The other global Icons who will open their homes include Grammy-winning artist Doja Cat, TikTok sensation Khaby Lame and reggaeton superstar Feid.

 

Icons such as Janhvi Kapoor’s stay are featured in their own category, making them easy to find on the Airbnb homepage. A countdown shows the time until each Icon goes live, and guests can request to book it in the app. The lucky guests who are selected will receive a digital golden ticket to this experience.

 

Disclaimer: This is purely a marketing/ promotional campaign, and the home is not listed to engage in the business of lodging/boarding/vacation rentals.

Shares of Heating Equipment Maker JNK India makes a heating debut on the exchange; lists at 50% premium

 

 

Shares of Heating Equipment Maker JNK India Limited made a heating debut on the exchange at a premium of 50%, higher than the IPO’s issue price of Rs 415.

The scrip listed Rs 620 per share on BSE and Rs 621 per share on NSE, at a premium of 49.40% and 49.64% respectively. The company's share price closed at Rs 693.95 per share on the BSE, a 67.22% premium, and at Rs 692 per share on the NSE, a 66.75% premium.

 

As per NSE, the total quantity traded stood at 216.25 lakh shares, on BSE the total Quantity stood at 14.37 lakh shares. Total Turnover (BSE+NSE) on Day 1 stood at Rs 1545.66 crore.

Mr. Arvind Kamath, Chairperson – JNK India Limited, said "We extend our heartfelt gratitude to all our esteemed investors for their unwavering support and confidence as we embark on this exciting journey of listing our units on the exchange. Your commitment fuels our drive towards greater success, and we look forward to delivering exceptional value as we grow together. Thank you for being a vital part of our journey."

 

The Market Capitalization of the Company at today’s closing price stood at Rs. 3,859.81 Crore as per BSE and Rs. 3848.97 Crore as per NSE

.

The Initial Public Offering of JNK India Limited was subscribed 28.13 times. Qualified Institutional Buyer Portion was subscribed 75.72 times, Non-Institutional Investors Portion was subscribed 23.26 times, whereas Retail Portion was subscribed 4.11 times.

JNK India Limited is in the business of manufacturing process-fired heaters, reformers, and cracking furnaces (together, the “Heating Equipment”) that are required in process industries such as oil and gas refineries, petrochemicals, and fertilizer industries.

The Company has capabilities in thermal designing, engineering, manufacturing, supplying, installing, and commissioning heating equipment and caters to both domestic and overseas markets. (Source: F&S Report). Over the years the Company has diversified into flares and incinerator systems and has been developing capabilities in the renewable sector with green hydrogen. The Heating Equipment is required in process industries such as oil and gas refineries, petrochemicals, fertilizers, hydrogen and methanol plants, etc.

As of December 31, 2023, it has served 21 customers within India and 8 customers overseas. In India, it has completed projects in, amongst others, Andhra Pradesh, Assam, Bihar, Karnataka, Kerala, Maharashtra, Tamil Nadu, and West Bengal, and globally have completed projects in Nigeria and Mexico. Further, it has ongoing projects in Gujarat, Odisha, Haryana, and Rajasthan in India and globally in Oman, Algeria, and Lithuania. Further, it has completed projects in far-reaching locations which included projects in India at Numaligarh, Assam; Kochi, Kerala; Barauni, Bihar; and overseas at Lagos, Nigeria.

Some of the domestic customers include Indian Oil Corporation Limited, Tata Projects Limited, Rashtriya Chemicals & Fertilizers Limited, and Numaligarh Refinery Limited.

REC Limited declares financial results, records highest ever annual net profit

Posted On: 30 APR 2024 2:56PM by PIB Delhi

The Board of Directors of REC Limited, a Maharatna Central Public Sector Enterprise and leading NBFC under the Ministry of Power, today approved the audited standalone and consolidated financial results for the quarter and year ended 31^st March, 2024.

Operational and Financial Highlights: Q4 FY24 vs Q4 FY23 (Standalone)

• Revenue from operations: ₹ 12,613 crores vs. ₹ 10,113 crores, up 25%
• Total income: ₹ 12,643 crores vs. ₹ 10,124 crores, up 25%
• Net interest income: ₹ 4,407 crores vs. ₹ 3,409 crore, up 29%
• Net Profit: ₹ 4,016 crores vs. ₹ 3,001 crore, up 34%
• Total Comprehensive Income: ₹ 5,183 crores vs. ₹ 3,645 crores, up 42%
• Yield: 10.03% vs. 9.65%, up 38 basis points
• Average cost of funds: 7.14% vs. 7.17%, reduction by 3 basis points
• Spread: 2.89% vs. 2.48%, up 41 basis points
• Net interest margin: 3.60% vs. 3.29%, up 31 basis points
• Return on net worth: 24.06% vs. 21.34%, up 13%

 

Operational and Financial Highlights: 12M FY24 vs 12M FY23 (Standalone)

• Total sanctions: ₹ 3,58,816 crores vs. ₹ 2,68,461 crores, up 34%, of which sanctions to renewable sector: ₹ 1,36,516 crores vs. ₹ 21,554 crores, up 533% 

Renewable sanctions comprise:

5. • Solar: ₹ 20,956 crores vs. ₹ 9,301 crores
   • Module manufacturing: ₹ 21,565 crores vs. ₹ Nil crores
   • Large Hydro: ₹ 32,450 crores vs. ₹ 682 crores
   • Pumped Storage: ₹ 28,304 crores vs. ₹ 6,075 crores
   • Green Hydrogen: ₹ 7,997 crores vs. Nil
   • E-Mobility: ₹ 7,214 crores vs. ₹ 2,429 crores
   • Wind turbine manufacturing: ₹ 3,195 crores vs. Nil
   • Wind: ₹ 3,453 crores vs. ₹ 2,436 crores
   • Hybrid: ₹ 10,098 crores vs. ₹ 220 crores
   • Others: ₹ 1,284 crores vs. ₹ 411 crores

• Disbursements: ₹ 1,61,462 crores vs. ₹ 96,846 crores, up 67%
• Revenue from operations: ₹ 47,146 crores vs. ₹ 39,208 crores, up 20%
• Total income: ₹ 47,214 crores vs. ₹ 39,253 crores, up 20%
• Net interest income: ₹ 16,167 crores vs. ₹ 13,714 crores, up 18%
• Net Profit: ₹ 14,019 crores vs. ₹ 11,055 crores, up 27%
• Total Comprehensive Income: ₹ 15,063 crores vs. ₹ 10,084 crores, up 49%
• Yield: 9.99% vs. 9.73%, up 26 basis points
• Average cost of funds: 7.13% vs. 7.28%, reduction by 15 basis points
• Spread: 2.86% vs. 2.45%, up 41 basis points
• Net interest margin: 3.57% vs. 3.38%, up 19 basis points
• Return on net worth: 22.17% vs. 20.35%, up 9%
• Market capitalization: ₹ 1,18,757 crore vs. ₹ 30,400, up 290%

Owing to the improving asset quality and effective resolution of stressed assets, and resetting of the lending rates and effective management of finance cost, REC has been able to record its highest ever annual profit after tax of ₹ 14,019 crores. As a result, the Earnings Per Share (EPS) for the year ended 31^st March 2024 accelerated by 27% to ₹ 53.11 per share as against ₹ 41.85 per share as at 31^st March 2023.

Aided by growth in profits, the Net Worth has grown to ₹ 68,783 crores as on 31^st March 2024, registering an increase of 19% YoY.

The loan book has maintained its growth trajectory and has increased by 17% to ₹ 5.09 lakh crores as against ₹ 4.35 lakh crores as at 31^st March, 2023. Signifying improving asset quality, the net credit-impaired assets as at 31^st March, 2024 have reduced to 0.86% from 1.01% as at 31^st March 2023 with Provision Coverage Ratio of 68.45% on NPA assets, as at 31^st March, 2024.

Indicating the ample opportunity to support the future growth, Capital Adequacy Ratio (CRAR) of the company stands at a comfortable 25.82% as at 31^st March, 2024.

Continuing with the tradition to reward its shareholders, the Board of Directors of the Company has declared the final dividend of ₹ 5 per equity share (on face value of ₹ 10/- each) and the total dividend for FY 2023-24 is ₹ 16 per equity share.

OSHO FUNCTION IN KALBADEVI ON MAHARASHTRA DAYOSHO MEDITATION & DISCOURSE IN THE PRESENCE OF Dr. SWAMI SHAILENDRA SARASWATI (OSHO’S ANUJ) AND MA AMRUT PRIYA

MUMBAI, 30TH April 2024: Past President of Hindustan Chamber of Commerce and Executive Committee Member of FICCI Shikharchand Jain & M/s. Rishi Enterprises, Mumbai have organized inauguration of their newly developed building ‘Sojat Swarna” on the morning of Wednesday,1st May 2024. The auspicious inauguration will be carried out by Dr. Swami Shailendra Saraswati ( younger brother of Osho) and Ma Amrut Priya. The Guests of Honour of the function will include Maharashtra Cabinet Minister Mangal Prabhat Lodha, MLA Speaker Rahul Narvekar and Erstwhile Judge K.K. Tated.

Swami Shailendra Saraswati and Ma Amrut Priya, who have 6 Acre Ashram in Sonipat, will deliver a discourse on great confluence of Materialism & Spiritualism during the inauguration. During the inaugural function of Sojat Swarna Bhawan at Kalbadevi on 1st May, there will be Osho Meditation, Discourse as well as Questions & Answers from 9 A.M. to 5 P.M.

Shikharchand Jain has been developing Osho Dhyan Kendra spread over 28 acres at a cost of Rs. 20 crore at Sojat in Rajasthan. The construction will be over 1 lakh square feet and the Ashram is expected to be ready in 18 months.

Information related to Osho Meditation & Celebration: 

According to Sadguru Osho, meeting of East & West namely, integration of Spiritualism and Wordly Activties is necessary. Like Gautam Buddha represents wisdom of the soul, peace, love and karuna, Greek Zorba represents materialism and luxury. Sadguru Osho believes on balancing of knowledge & science, meeting of East & West. He believes in internal peace, love, physical success, convenience as a result of convergence of worldly success and health. In short, he calls this combination ‘Zorba The Buddha’.

Combination of meditation and science is necessary. External strength and internal peace is necessary to save this world from disaster. Turbulent persons becoming powerful are as dangerous as peaceful persons becoming weak.

XXXXX

Racks & Rollers - Storage Technologies and Automation Limited’s SME Initial Public Offering to open on Tuesday, April 30, 2024, price band set at ₹73/- to ₹78/- per Equity Share

Price Band of ₹73/- – ₹78/- per equity share bearing face value of ₹10/- each (“Equity Shares”)

Bid/Offer Opening Date – Tuesday, April 30, 2024 and Bid/Offer Closing Date – Friday, May 03, 2024.

Minimum Bid Lot is 1600 Equity Shares and in multiples of 1600 Equity Shares thereafter.

The Floor Price is 7.3 times the face value of the Equity Share and the Cap Price is 7.8 times the face value of the Equity Share

RISK TO INVESTORS

The Company is dependent on few numbers of customers for sales. Loss of any of this large customer may affect our revenues and profitability

We have certain outstanding litigation against us, an adverse outcome of which may adversely affect our business, reputationand results of operations

The unexpected loss, shutdown or slowdown of operations at our manufacturing plant could have a material adverse effect onour results of operations and financial condition.

Inaccurate estimation of risks, revenues, or costs for a projects could negatively impact our profitability and operational results. Actual costs during project execution may significantly deviate from bid assumptions, leading to challenges in recovering additional expenses and potentially having a material adverse effect on our operational results, cash flows, and financial condition.

Our operations are significantly influenced by the prices, availability, and quality of the raw materials essential for our production processes.

Failure to successfully implement our business strategies may materially and adversely affect our business, prospects, financial condition and results of operations.

Our existing customers does not guarantee realization of future income. Our revenue may be subject to modifications, cancellations, delays, holds, or partial payments by customers, which could have adverse effects on our operational results. 

We have experienced negative cash flows in the past, and we may have negative cash flows in the future. 

We operate our business from rented premises. 

We have incurred losses in the past and may continue to incur significant losses in the future. 

The Merchant Banker associated with the Issue has handled 50 public issues (SME Issues) out of which 12 opened below Issue price on listing day. 

Average cost of acquisition of Equity Shares held by our Promoters:- Khasim Sait, Mohammad Arif Abdul Gaffar Dor , Hanif A Khatri , Nuumaan Khasim , Syed Azeem , Afzal Hussain are Rs. 1.11 per equity share of each promoter.

The Price/ Earnings ratio based on basic EPS for Fiscal 2023 for the company at the Cap price is 48.45

Weighted Average Return on Networth for Fiscal 2023,2022 and 2021 is 6.29%

Weighted Average cost of acquisition, Floor and Cap Price

Types of transactions 

Weighted average cost of acquisition (₹ per Equity Shares) 

Floor price*

(i.e. ₹ [73])

Cap Price*

(i.e. ₹ [78])

Weighted average cost of acquisition of primary / new issue 18 months prior to RHP

NA^

NA^

NA^

Weighted average cost of acquisition for secondary sale/ acquisition 18 months prior to RHP

NA^^

NA^^

NA^^

Weighted average cost of acquisition of primary issuances / secondary transactions, during the 3 immediately preceding years*

-

-

-

^There were no primary/new issue of shares(equity/convertible securities) transaction, other than equity shares issued pursuant to bonus issue on January 10, 2024, in the last 18 months prior to the date of RHP. ^^There were no secondary sale/acquisition(equity shares) in the last 18 months prior to the date of RHP.

Mumbai, April 30, 2024: Bengaluru-based Racks & Rollers - Storage Technologies and Automation Limited is engaged in a storage racking system, with specialising in design, manufacturing, installation services of metal storage racks, automated warehouses and other storage solutions, has fixed the price band of ₹73/- to ₹78/- per Equity Share of face value ₹10/- each for its maiden initial public offer. The Initial Public Offering (“IPO” or “Offer”) of the Company will open on Tuesday, April 30, 2024, for subscription and close on Friday, May 03, 2024. Investors can bid for a minimum of 1600 Equity Shares and in multiples of 1600 Equity Shares thereafter.

The issue consists of a fresh issue of up to 3,840,000 equity shares with no offer for sale (OFS) component. 

The Issue is being made through the Book Building Process, wherein not more than 50% of the Net Issue shall be available for allocation to Qualified Institutional Buyers, not less than 15% of the Net Issue shall be available for allocation to Non-Institutional Investors and not less than 35% of the Net Issue shall be available for allocation to Retail Individual Investors.

Of the total net proceeds to be raised through the issue, Rs 27.50 crore will be used to meet working capital requirements and general corporate expenses.

Racks & Rollers - Storage Technologies and Automation Limited was incorporated in the year 2010 by its promoter Mr. Mohammed Arif and Mr. Khasim Sait with experience of around, 13 years and 13 years in the storage racking system industry.

The company's commitment to delivering innovative and efficient solutions for diverse warehousing needs demonstrates their commitment in its wide range of products and services. These solutions cater to various industries such as oil & gas, automotive components & aerospace, food & beverages, cold storage, pharmaceuticals, textiles, retail, FMCG, and others, each with unique storage and logistical requirements.

The Bengaluru-based company operates with a customer-centric approach, driven by a focus on continuous innovation and operational efficiency. It offers a comprehensive range of display and storage racks designed for commercial and industrial purposes, utilizing high-quality raw materials to ensure durability and optimum strength in the finished products. These raw materials include different grades of mild steel (hot rolled coils, cold rolled coils, galvanized steel coils, PPGI coils, pipes, and structural sections), powder coatings for powder coating, epoxy, enamel paints, and plastic for packaging.

The company has a manufacturing unit that covers approximately 56,250 square feet in Singanayakanahalli, Yelahanka Hobli, Bangalore, along with a 56,250 square feet storage facility, supporting a streamlined manufacturing process. The company manages product design, manufacturing, quality checking, packaging, storing, and delivery processes across specialized segments of its infrastructure, all closely monitored by an experienced team of quality controllers.

Through its manufacturing prowess, competitive strengths, and strategic business approaches, Storage Technologies and Automation Limited is well-positioned to meet the evolving needs of its clients effectively. The company is dedicated to innovation, quality, and delivering economically feasible solutions that exceed client expectations.

As of April 01, 2024, the total order book value of the Company is ₹ 21.36 Crore.

Racks & Rollers - Storage Technologies and Automation Limited has turnaround from a loss of Rs 0.20 crore in the financial year 2022 to Rs 0.48 crore in the financial year FY23. Revenue during the year FY23 increased 16.39% to Rs 81.32 crore from Rs 69.87 crore in the previous year, primarily due to an increase in the business operations of the company and increase in number of customers.

For the seven months ended October 31, 2023, revenue from operations stood at Rs 52.92 crore, and profit after tax stood at Rs 3.59 crore.

OneView Corporate Advisors Private Limited is the sole book-running lead. The equity shares are proposed to be listed on SME Platform of BSE Limited.

Disclaimer: STORAGE TECHNOLOGY AND AUTOMATION LIMITED has filed a Red Herring Prospectus dated April 22, 2024 with the ROC. The Red Herring Prospectus shall be made available on the website of the SEBI at www.sebi.gov.in as well as on the website of the BRLM i.e., Oneview Corporate Advisors Private Limited at www.oneviewadvisors.com, the website of the BSE at www.bseindia.com. Any potential investor should note that investment in equity shares involves a high degree of risk and for details relating to such risks, see “Risk Factors” beginning on page 30 of the Red Herring Prospectus. 

The Equity Shares offered in the Offer have not been and will not be registered under the U.S. Securities Act of 1933, as amended (the “Securities Act”) or any state securities laws in the United States and may not be offered or sold within the United States or to, or for the account or benefit of,,”U.S. persons” (as defined in Regulation S of the Securities Act), except pursuant to an exemption from, or in a transaction not subject to, the registration requirements of the Securities Act. Accordingly, the Equity Shares will be offered and sold (i) within the United States only to persons reasonably believed to be “Qualified Institutional Buyers” (as defined in Rule 144A of the Securities Act) under Section 4(a) of the Securities Act and (ii) outside the United States in offshore transaction in reliance on Regulation S under the Securities Act and the applicable laws of the jurisdiction where those offer and sales occur. 

The Equity Shares have not been and will not be registered , listed or otherwise qualified in any other jurisdiction outside India and may not be offered or sold, and Application may not be made by persons in any such jurisdiction, except in compliance with the applicable laws of such jurisdiction.

LISTING:. The Equity Shares offered through the Red Herring Prospectus are proposed to be listed on SME Platform of BSE Limited (“BSE SME”), in terms of the Chapter IX of the SEBI (ICDR) Regulations, 2018, as amended from time to time. Our Company has received an In-Principle Approval letter dated April 19, 2024 from BSE Limited (“BSE”) for using its name in this offer document for listing our shares on the “BSE SME”. For the purpose of this Issue, the designated Stock Exchange will be BSE Limited.

DISCLAIMER CLAUSE OF SECURITIES AND EXCHANGE BOARD OF INDIA (“SEBI Since the Issue is being made in terms of Chapter IX of the SEBI (ICDR) Regulations, 2018, the Red Herring Prospectus will be filed with SEBI in terms of the Regulation 246 (5) of the SEBI (ICDR) Regulations, 2018, and the SEBI shall not offer any observation on Offer Document. Hence, there is no such specific disclaimer clause of SEBI. However, investors may refer to the entire “Disclaimer Clause of SEBI” on page no. 237 of the Red Herring Prospectus.

DISCLAIMER CLAUSE OF THE SME PLATFORM OF BSE LIMITED (DESIGNATED STOCK EXCHANGE): "It is to be distinctly understood that the permission given by BSE Limited ("BSE") should not in any way be deemed or construed that the contents of the Red Herring Prospectus/ Prospectus or the price at which the equity shares are offered has been cleared, solicited or approved by BSE, nor does it certify the correctness, accuracy or completeness of any of the contents of the Red Herring Prospectus/ Prospectus. The investors are advised to refer to the Prospectus for the full text of the “Disclaimer clause of the SME Platform of BSE Limited” on page no. 239 of the Red Herring Prospectus

HP powers INDO-MIM to mass produce metal 3DP parts in India

Boost to “Make in India” by locally produced complex metal parts for sectors like automobile, healthcare, and defense 

News Highlights 

• With HP’s technology, Indo-MIM is the first company to enable large-scale production of metal 3DP parts in India

• Industrial production of 3D printed metal parts to cut reliance on costly imports

• Easier & faster availability of customized 3D metal parts to help companies and end users

Bengaluru, April 22, 2024 –The world’s leading Metal Injection Molding (MIM) company Indo-MIM today operationalize HP’s two metal jet binder 3D printers in India. With HP’s 3DP technology, INDO- MIM is the first company to enable large-scale production of 3D printed high-precision metal parts for automobile, aerospace, defense, consumer electronics, and medical equipment segments. These machines installed at the Bengaluru facility of Indo-MIM will be catering to both domestic and international markets. 

As part of a global partnership, INDO-MIM has invested in three cutting-edge HP Metal Jet S100 printers. Two of its advanced Metal Jet S100 printers will provide localized support for Indian clients and expand production capabilities. One of them will focus on new material development, while the other will be driving application development and cater to customers in India, the Middle East, the rest of the Asia-Pacific region. Third printer has been installed at Indo-MIM facility in Texas, USA. 

Savi Baveja, President of Personalization & 3D Printing, HP Inc, said “We are proud to partner with INDO-MIM to create new possibilities for their customers leveraging HP’s metals additive manufacturing capabilities. We are ready to transform the landscape of metal parts production in India by manufacturing locally and exporting worldwide. We are confident that by working together, we can drive innovation, boost adoption, and enhance India's presence in the global manufacturing arena.” 

Krishna Chivukula Jr, CEO at Indo-MIM also expressed his excitement about the collaboration, noting, "Our partnership with HP signifies a milestone in our journey to provide cutting-edge production ready 3D metal binder jet solutions to our customers. The acquisition of HP's Metal Jet S100 printers equips us with the latest technology, enabling us to meet the growing demands of our customers with efficiency and precision, as well as expand the library of materials qualified on the HP printer platform."

Through this partnership, HP's advanced technology enables INDO-MIM to create top-quality, consistent metal parts for both Indian and US markets. With the latest 3D printing metal binder jet technology, HP helps INDO-MIM meet the rising demand for intricate metal parts, ready for large-scale production. Together, HP and INDO-MIM are also testing new HP Metal Jet materials like M2 tool steel. These new materials improve properties and precision, making metal 3D printing even better.

The Metal Jet S100 solution, the world’s leading 3D metal production solution, was introduced in the fall of 2023, and since then has enabled companies around the world to both efficiently design and produce metal parts and transform their supply chain. Both HP and INDO-MIM are committed to advancing innovative technology and sustainable manufacturing. They are well-positioned to unleash the full potential of metal additive manufacturing, helping transform markets across industries. 

About INDO-MIM

INDO-MIM is currently the largest Metal Injection Molding company (MIM) with production plants in India, USA and UK with customers spread across North America, Europe, SEA and MEA regions. In addition to MIM, INDO-MIM also caters to investment casting, Ceramic Injection Molding (CIM) & precision machined components to Aerospace and Medical device markets. 

INDO-MIM started offering metal powders to the additive manufacturing industry in 2020 and is already a leading producer of world class metal powder products tailored for Laser-bed fusion and Binder-Jet 3D printing platforms. INDO-MIM believes a deeper integration between additive manufacturing and powder production processes would add to the speed of technology adaptation in the future. 

For more information visit http://www.indo-mim.com

Crompton introduces its new range of IndiBreeze Industrial Air Coolers that delivers ‘Jaldi Cooling’ providing relief in the summer heat

Mumbai:- 22 April 2024, Crompton Greaves Consumer Electricals Limited, renowned for its commitment to quality and pioneering innovations in appliances, has continuously redefined your living spaces with sophistication and unparalleled style. Taking this to a new level, Crompton is once again transforming cooling solutions with the launch of its IndiBreeze Industrial Cooler range. Available in 95L and 135L capacities, these industrial-grade coolers are specifically designed to tackle the demanding needs of large, open spaces like factories, warehouses, restaurants with open kitchens, and large lobby areas.

As climate change becomes a harsh reality and temperatures soar to unprecedented levels, we are likely to face extreme heat in the upcoming season. The intense heatwaves and scorching temperatures make it important for one to experience instant cooling after a long day. Instant cooling is not only necessary to combat the heat but also to ensure comfort, convenience, and overall well-being during the summer months. Coolers, therefore, offer a valuable solution with their affordability, durability, and energy-efficient features, providing optimal cooling comfort anytime, anywhere. However, traditional metal coolers, while cost-effective, often struggle to deliver effective cooling in large, open spaces. In line with Crompton’s commitment to enhancing the consumer experience, the company has introduced a new range of industrial air coolers - IndiBreeze series designed to deliver “Jaldi Cooling” this summer season.

Speaking about the latest innovation, Mr. Malhar Vadke - Business Head (Large Domestic Appliances) – Crompton Greaves Consumer Electricals Ltd. said, “The launch of the IndiBreeze Industrial Cooler range reflects Crompton's dedication to evolving alongside its customers' needs. Our living spaces have transformed; they are no longer just places of residence, but dynamic environments where comfort plays a crucial role in various activities. Similarly, industrial spaces require solutions that prioritize worker well-being and ensure optimal productivity. The IndiBreeze Industrial Coolers addresses this growing need for powerful and reliable cooling in industrial / different settings. Crompton has a history of breaking barriers with advanced technology and pioneering innovations. We believe the IndiBreeze Industrial Coolers continue this tradition, delivering the same high results you expect from our products for a more comfortable and convenient consumer experience.”

Engineered with precision and innovation, these coolers are designed to redefine cooling solutions for industrial spaces. Crompton understands that industrial settings require robust equipment that can withstand heavy-duty use. Hence, with their advanced features and reliable performance, the IndiBreeze 95 and IndiBreeze 135 are set to elevate cooling experiences in industrial environments, offering unparalleled comfort and efficiency.

Find below the details of the products: 

IndiBreeze 95 features a robust double-bearing motor enhancement, ensuring longevity and reliability. With high-density honeycomb pads and a 17" inch Matel fan blade, it delivers a powerful airflow of 6500m3/hr. Equipped with fully collapsible louvers, an Everlast Pump, and auto-fill functionality, it offers convenience and efficiency. Its inverter capability and heavy-duty caster wheels make it adaptable and easy to maneuver

IndiBreeze 135 boasts similar features but with enhancements tailored for larger spaces. Its double-bearing motor ensures durability, while the 20" metal fan blade facilitates higher airflow, delivering an impressive 9000m3/hr. With fully collapsible louvers, an Everlast Pump, and auto-fill functionality, it guarantees optimal and consistent performance. Like its counterpart, it is inverter compatible and equipped with heavy-duty caster wheels for enhanced mobility.

The IndiBreeze range of air coolers is available across the retail stores of Crompton and e-commerce channels as well for a price range of Rs. 25,000 to Rs. 29,000.

Mumbai Comic Con Wraps Up with a Bang, A Celebration of Pop Culture and More!

~ Comic Con India, the country's premier pop-culture celebration is back in the city of dreams. From celebrity appearances to exclusive merchandise, and top notch cosplayers from India and around the  globe at the ultimate weekend for pop culture enthusiasts !~

 

Mumbai, India – 22nd April - The city of dreams, Mumbai witnessed an exhilarating weekend of the year for all things pop culture. Comic Con India brought pop culture enthusiasts from across the city for its last of this season's event. The event served as a haven for cosplay enthusiasts and spectators alike, offering a gateway to a world where fantasy and reality collide. The weekend was filled with interactive activities, games, and an array of merchandise, keeping the spirit of Comic Con soaring high.

 

Presented by Maruti Suzuki Arena, powered by Crunchyroll and in association with Android, Mumbai Comic Con 2024 treated every attendee to an exclusive copy of Spiderman-India (No.1 Issue) comic book, in collaboration with Marvel Comics. The event showcased comics in a big way with a slew of upcoming publishing houses and Indian artists like Indusverse, Holy Cow Entertainment, Acid Toad, Garbage Bin, Bullseye Press, Bakarmax, Art of SAVIO, and Abhijeet Kini  and many more along with International guests Jason Loo and GUY Delisle graced the event. The event saw immense love pouring in for popular movies, games and comic book characters like Itachi, Luffy, Goku, Deadpool & Wolverine, Spidermans, Batman, Viper (Valorant), Victor (Pubg shooter), Subzero (Mortal Kombat), Franklin (GTA), Xiao, Zhongli (Genshin Impact), Brimstone (Sage) and so much more.

 

The venue buzzed with excitement as new comic book launches took center stage, including Karejwa by Bakarmax, Monday To Friday by Corporat Comics, Ghosts of South India by Abhijeet Kini, Minnal Murali by Tinkle Comics, and the announcement of Suppandi’s birthday by Google Android. Art Guy Rob conducted a captivating session igniting nostalgia among audiences.

 

A special panel on Demon Slayer, featuring voice-over artist Natsuki Hanae, stole the spotlight, while the dynamic duo Rohan Joshi and Sahil Shah delivered yet another hilarious session of Binge-O-Clock. Popular rapper MC Altaf set the stage on fire with his rap, and the cast of Lakadbaggha also made an appearance. DJ Kazu and Shahrule kept the crowd grooving with their electrifying beats and rap. The talented comedian Harsh Gujral brought laughter to everyone with his wit.

 

Speaking about the thrilling weekend celebration, Jatin Varma, Founder, Comic Con India, said, “The excitement and enthusiasm that the celebration brings along with boundless creativity and passion of pop culture enthusiasts at Comic Con, fills me with immeasurable joy. Each edition of Comic Con has been a rewarding journey, and Mumbai, as the final stop, embodies the vibrant spirit of our community. The infectious energy witnessed at our shows creates memories that last a lifetime. I am grateful to our audience for their unwavering support and participation and eagerly anticipate more unforgettable moments in the editions to come.”

 

MC Altaf shared, "Mumbai Comic Con is very close to my heart as it's my home turf.  Performing here was a memorable experience that I will always cherish."

 

Comedian Harsh Gujral said, "This is my first Comic Con experience. I think the energy in the audience was exceptional. I was scared in the beginning to perform in the open, but I was really surprised. People were enjoying the entire event while also paying attention to all the various performances happening and that's what I loved the most. The vibe and energy of the audience was commendable."

 

Comic artist and cartoonist Jason Loo said, "Working with Marvel comics is always a dream.  I'm always amazed at every project I do, I get to draw or write this character today like Thor or Captain  America; this is awesome, and Mumbai Comic Con has been overwhelming. It has exceeded all my expectations with the high energy and enthusiasm of all the fans. I've never been shown this kind of love before in any kind of show. I would definitely like to be back for another Comic Con in India."

 

On April 20th-21st, 2024, the event also featured The Arena – a dedicated gaming expo, featuring amazing experiences, tournaments, free play zones as well as the opportunity to meet & greet with leading streamers. Key Event Partners include brands such as CELIO, HDFC, Comedy Central, OnePlus, Android, NYX Cosmetics, McDonald’s & VH1.

Speciality Fine Chemicals Company, Kronox Lab Sciences gets SEBI nod to float IPO

Vadodara based Kronox Lab Sciences (“Kronox” or “Company”), manufacturer of high-purity speciality fine chemicals, has received capital markets regulator Sebi's nod to launch Initial Public Offering (IPO).

Under the Offer for Sale, up to 96 lakhs equity shares will be offloaded jointly by the promoters namely Jogindersingh Jaswal, Ketan Ramani and Pritesh Ramani. The offer represents upto 26 per cent of the paid-up equity share capital of Kronox Lab Sciences.

Kronox’s High Purity Speciality Fine Chemicals portfolio has more than 185 products. The products are used mainly for applications across pharmaceuticals, nutraceuticals, biotech, food, animal health, scientific research, agrochemicals, personal care, amongst others. Kronox exports to more than 20 countries with major exports to USA, United Kingdom, Mexico, Australia, Egypt.

The Company has 3 manufacturing facilities and Research, Development and Testing (“RDT”) laboratory, situated in Vadodara, Gujarat. Additionally, the Company has acquired land at Dahej, Gujarat to set up a new manufacturing plant. The Company has more than 120 products under various phases of research and development.

Completely debt free business, Kronox works at more than 15% Post tax profit margin. Interestingly, Kronox has a formidable track record of two buy backs and a bonus issue in the previous five financial years.

For Fiscal 2023, Kronox generated consolidated revenue from operations of Rs. 95.6 crores growing at CAGR of 23.70% over Fiscal 2021 to 2023. The Company had EBITDA of Rs. 22.0 crores and EBITDA margin of 23.01%. The Company’s profit after tax for Fiscal 2023 was Rs. 16.6 crores with PAT margin of 17.04%. The Company’s Return on Equity (RoE) and Return on Capital Employed (RoCE) stood at 37.2% and 49.9% respectively for Fiscal 2023.

Kronox Lab Sciences, which filed draft red herring prospectus dated January 25, 2024 with the market regulator Sebi, obtained its observation letter on April 12, 2024, an update with the Securities and Exchange Board of India (Sebi) showed.

Pantomath Capital Advisors Private Limited is the sole book-running lead manager. The Company’s equity shares are proposed to be listed on the BSE and NSE.