Archive: November 25, 2022

Jaipur Music Stage all set to rock at Hotel Clarks, Amer, Jaipur

The Jaipur Literature Festival 2023 is all set to bring a range of exhilarating performers to the Jaipur Music Stage, which will be running parallel to the Festival. Infusing the audience with a melodic exuberance at the literary extravaganza, the Jaipur Music Stage will be a 3-day long programme, set to run from 19 th – 21 st January, 2023 featuring a range of celebrated artistes from all around the globe.

Just like every year, the music stage will live up to its motto of variety, discovery and collaboration through its exemplary line-up of artistes. Bringing together a diverse mix of genres and artistes on one platform, Jaipur Music Stage aims to transcend borders, genres and prejudices through its breathtaking performances ranging from world music, ghazals and jazz to rock and the blues.

The musical extravaganza will showcase acclaimed artistes, including the ultimate fusion band Pakshee; contemporary electronic music production house Lifafa; Rhythms of India featuring BC Manjunath, Darshan Doshi, Nathu Lal Solanki, Pramath Kiran, and Praveen D Rao; the trans-cultural musical factory of ideas Peter Cat Recording Company (PCRC), Neo-classical band Shadow and Light, and Neo-Folk Fusion band Kabir Café.

Talking about the festival, Avik Roy, Senior Executive Producer, Teamwork Arts, said, “The Jaipur Music Stage takes a voyage into a world of music beyond boundaries. The much-awaited musical fiesta features artistes from all across the country, representing diversity of genres, styles and musical sensibilities. This year, the Jaipur Music Stage will see unbelievable
collaborations between diverse artistes and genres.”

Apart from several electrifying performances, the Jaipur Music Stage will also provide one-on- one interaction opportunities to all the music lovers, giving the audience a chance to celebrate music with the icons of the industry.

Programme Details:

19th January

Pakshee

7:30 – 8:30 PM

Lifafa

8:45 – 9:45 PM

20th January

Rhythms of India

7:30 – 8:30 PM

Peter Cat Recording Company (PCRC)

8:45 – 9:45 PM

21st January

Shadow and Light

7:30 – 8:30 PM

Kabir Café

8:45 – 9:45 PM

DevTools & HR Tech Platform CometLabs bags funding from SucSEED Indovation & CIE IIIT Hyderabad

Delhi: 25 November 2022: CometLabs IT Solutions Pvt Ltd. has secured an undisclosed amount of funding from SucSEED Indovation Fund and CIE-IIIT Hyderabad as part of its pre-seed round.

Sharing his excitement, Prashant Katiyar, the Co-Founder and CEO of CometLabs said, “We are thankful to SucSEED Indovation Fund and IIIT Hyderabad who have shown faith in our vision. The pre-seed funding we raised from them will help us build a more powerful technology and onboard more developers onto the platform.”

Founded by final-year engineering students, from different IIITs, CometLabs aims to fulfill the demand for tech talent by vetting and curating developer profiles. Moreover, they are revolutionizing the hiring and interview process based on past projects by building niche vetting tools for different tech stacks.

“During Covid Pandemic, in March 2020, as a freshman at IIIT Guwahati, I started a community of student developers from different IIITs and NITs and other institutes. We mentored each other, did a lot of freelancing together with startups and identified their problems in hiring tech talents. We’re an 8000+ folks developer community now,” said Prashant.

A few months later in October 2021, I was joined by Rishika, a sophomore at IIIT Dharwad and we started CometLabs. Later we were accompanied by our founding members, Shivam Soni, Manish Kumar, and Vineel Sai, he added.

Rishika Kumari, Co-Founder of CometLabs said,“We’ve 8000+ students community now, hosted 37+ CodeArenas for Tech Colleges, provided 570+ Interns & Jobs to recruiters, and we’ve 1800+ vetted developers ready to hire on the platform. We are growing at an incredible speed.”

Speaking on the investment, Vikrant Varshney Co-Founder & Managing Partner of SucSEED Indovation Fund, said, “According to a report by Fortune Business Insights, The COVID-19 pandemic created unprecedented opportunities for HRTech players in the long-term. The market is expected to grow to $35.66 Bn in 2038. As such, we are very happy to invest into Cometlabs which is positioned as an HR Tech platform that hosts CodingArenas that help recruiters identify suitable developers/candidates better.”

Key Highlights from CIO Panel at Franklin Templeton’s APAC Investor Forum 2022

25 November, 2022-Franklin Templeton hosted on November 17, 2022, the APAC Investor Forum 2022, a hybrid event in Singapore that brings together a panel of investment experts, including our CIOs and Portfolio Managers from our collection of Specialist Investment Management teams, to discuss the evolving macro environment that investors face today and the potential investment roadmap for the next decade.

In the CIO panel moderated by Stephen Dover, Chief Market Strategist and Head of the Franklin Templeton Institute, panelists shared their insights into the potential real and financial ramifications of a recession and the shifting economic landscape.

Commenting on the likelihood of a global recession, China’s outlook and the implications for investors, Dover said:

“While many indicators point to a high likelihood of a recession in the next 12 months, the potential severity is still an open question. Asia appears to be well positioned relative to other regions in terms of inflation as the issue of elevated housing prices and labor shortages have not been as acute as it has in places such as Europe. The dynamics in China are diverging from the rest of the world and could leave its economy in a better position if monetary policy remains loose and COVID restrictions begin to ease. China’s relationship with the United States will be an important issue to watch in terms of China’s growth path in both the near and long term.”

Commenting on the inflation outlook and opportunities in fixed income markets, Sonal Desai, Chief Investment Officer, Franklin Templeton Fixed Income, said:

“I think inflation will prove more persistent than financial markets would like. Coming down from the 9-10% peaks is relatively easier as the energy shock fades, but bringing it all the way down to 2% will be a lot harder. The Fed will need to bring the fed funds rate to about 5.25% and keep it there long enough for the economy to cool. Other global central banks will also need to maintain a tighter monetary stance. On the flip side, I think we are only looking at a moderate recession in the US, and this will offer some support to Asia and the rest of the world. Higher yields are creating new opportunities in fixed income: it is finally starting to generate income again. Yields are likely to rise further, but as we get closer to the peak of the cycle, investment-grade bonds and US Treasuries stand to benefit first.

“Looking across riskier asset classes like high yield and emerging markets, over the next few quarters I believe selective security selection will allow investors to start taking advantage of yields which in many cases are now running above 10%. At the top of my list of concerns is the fallout of a decade and a half of ultra-loose monetary policies that have led to a lot of risk-taking in markets, which is now resulting in bouts of instability and volatility: think of the sudden plunge we saw in UK bond prices and FX or the recent trouble in US crypto assets. We could get a bigger shock that hits global financial markets, and that would impact Asia as well – it’s an unknown if you will.”

Commenting on the outlook for global and emerging market equities, ManrajSekhon, Head, of Templeton Global Investments, said:

“Tightening global financial conditions and the heightened geopolitical environment have driven cross-currents that created a difficult market over much of 2022. Signs of some thawing in these conditions suggest that the market outlook into 2023 will prove quite different. Investors will have to grapple between continued deteriorating fundamentals in the short term alongside attractive valuations and a more benign policy outlook as we look toward the next 12 months. This will provide an attractive hunting ground globally for active stock pickers with a medium to longer-term outlook.”

With 1.5L+ Lives Under Care, Kenko Plans Offer OPD Benefits & Monthly Subscriptions

According to a government report, out-of-pocket medical expenses account for up to 62% of our total healthcare costs. These expenses include doctor visits, medicines, lab tests, etc. and create a huge dent in the savings of middle-class families. The larger impact is devastating,
pushing millions of Indians below the poverty line every year. This is where Kenko, India’s first integrated health management organization is actively solving the problem, helping you finance your healthcare expenses.

Kenko provides comprehensive plans that offer financing solutions for OPD expenses and daily healthcare in a single, pocket-friendly format.

Having introduced several industry-first innovations such as:

● Monthly subscription model – no year long commitment – pay as you go
● Flat pricing – does not change with age or location
● Prepaid benefits – The user can get all the benefits in advance
● Up to 50% off on OPD benefits offering including daily healthcare
● Apart from the regular categories, Kenko also extends benefits for dental care,
mental health, at-home care, sexual health and many more
● Plans for senior citizens and diabetes patients
● Shoho – The Kenko Store provides easy access and discounts on over 200 medical
and healthcare products

Launched in 2019, Kenko manages over 1.5L+ lives and has crossed a milestone of settling 25L OPD benefits so far. Interestingly, most of these benefits were used by their subscribers living in tier 2 and tier 3 cities, deducing that there’s growing awareness and adoption of healthcare services in these cities/pockets of the country.

“We are trying to streamline the healthcare system by becoming a one-stop solution for healthcare and finance in India. You get benefits on OPD expenses like doctor consultations, dental, skin, hair treatments, diagnostics, prescription medicines, etc. Our marketplace has a wide range of products that makes daily healthcare affordable. The core aim of Kenko is to make healthcare accessible to the middle-class groups of India.” said Aniruddha Sen, co- founder of Kenko.

Earlier this year, Kenko Health had raised $12 million in Series A funding. Sequoia Capital was the lead investor in this round that also saw Beenext, Orios, 9Unicorns and Waveform participating. So far, Kenko has over 1.5L lives under care with over 200 organisations subscribing to their group health & wellness plans. It was also recently listed as one of the top startups for employee wellness.

Flex workspace market to flourish as 35-40% of companies prefer hybrid working

India November 2022: Awfis, India’s largest network of coworking spaces, and Qdesq, a tech-enabled workplace provider, collaborated to bring out the Indian Flex Occupier’s Survey 2022. The survey delves deep into the preferences of flexible workspace occupiers, as well as also provides valuable insights about the expectations from their employers. This survey aims to understand the critical impetus for finalizing the workspace, amenities priorities, and perspective on tech enhancements for companies to construct a sustainable hybrid/flex workspace model.

The survey states that about 35-40% of companies of all sizes prefer the idea of hybrid working. As flexibility became the cornerstone of workplace solutions during the pandemic, the workforce now needs the same level of flexibility in the post-pandemic era.

The start of the pandemic caused the movement of Indian workers back to their hometowns. As a result, businesses pivoted to a hybrid work model to give their employees the advantages of both working from home and working from an office. Organizations are progressively collaborating with flex space operators to ensure the seamless execution of the hybrid work model despite office development in numerous places. Around 45% of corporations are looking for new office spaces including conventional and flex, while 35% of them already instituted a multi-office approach through collaboration with coworking spaces.

Amit Ramani, Founder & CEO, Awfis said, “The long-term future of the entire business will be determined by the current occupier patterns, which are also creating new expansion opportunities for flex space operators in the short term. This is an opportune time for flex space operators to reinvent their workspaces, diversify their presence in cities, and carefully analyze tenant expectations to accommodate them effectively as flexibility continues to hold sway over workplace strategies of enterprises of all sizes.”

“The pandemic-induced shift in occupier demands completely transformed the coworking sector in India. In times of uncertainty, the coworking industry saw a new set of workplace requirements that later evolved into a new style of working after the global affliction. At Awfis, we recognized these changes as a revolutionary growth opportunity and immediately redesigned our products through innovation, paving the path for success, growth, and expansion. We hope that the survey insights shared through Awfis&Qdesq joint report serve in guiding occupiers in making informed decisions for their workplace portfolio.” said Sumit Lakhani, Deputy CEO, of Awfis.

Paras Arora, Founder & CEO of, Qdesq said”The post-pandemic era is a witness to the deployment of new workspace models to maintain profitability, instill work flexibility and employees’ well-being. No longer confined to small startups, the flexible workspace segment, today, is embracing the arrival of various big enterprises. As firms continue to evolve with the changing market dynamics, the workforce expectations, too, have changed with new working models like hybrid, work-from-home, and working from office coming to the fore.

Amid such new and emerging trends, the need for key stakeholders to understand the mindset of modern-day businesses and their workforce to make informed decisions has become imperative. Our latest survey report, aimed at offering a better perspective, gives valuable insights into the changing preferences of flexible occupiers.

It highlights the key impetus for enterprises to finalize the workspace, amenities priorities, and perspective on tech enhancements among others. I am elated to see the collaboration between Qdesq&Awfis bearing in the form of our impactful and equally influential survey report for key stakeholders in this ever-competitive and evolving flex market. “

INDIAN FLEX OCCUPIER’S SURVEY 2022 HIGHLIGHTS AND TRENDS
INDUSTRY-WISE COMPOSITION

Interestingly more than 70% of the smaller firms are in favor of working from the office, while only 15% of the larger firms follow suit, 70% of whom prefer hybrid
Banking, Insurance, and Technology companies will lead the demand for office spaces in 2023 as the financial services industry’s quick embrace of digital platforms and the availability of tech-savvy individuals in India. By depending on flex workspace suppliers, numerous large businesses in these sectors are also implementing the hybrid work model.
The majority of the workforce prefers to work three to five days per week from the office now that things are returning to normal and offices are open, believing that this will foster greater productivity and better teamwork. A very small niche of the workforce prefers two days at work.

WORKSPACE PORTFOLIO

The survey demonstrates the significant evolution of occupier needs, which will be advantageous for the expansion of the coworking sector.

Most respondents are eager to collaborate with coworking players to successfully implement a strategy for a distributed workforce, while 30% of respondents are searching for more affordable alternatives to rental offices to have more financial flexibility.

The remaining respondents want to choose managed offices to absolve themselves of workspace administration duties that would otherwise be expertly handled by office space providers.

OCCUPIER’S TAKE ON TECH

Technology will play a pivotal role in redefining workspaces by delivering a seamless user experience. 76% of occupiers prefer a seamless tech interface to book meeting rooms and manage visitors.

COWORKING OCCUPANCY DECISION MATRIX

The experience that office spaces provide significantly impacts the decision-making matrix that will guide the workspace selection. While many elements affect a worker’s choices, the survey identifies that Price and Budget, along with Office space availability, are more critical than the Design and Aesthetic of the working space. While events, activities, and technological infrastructure are ranked low on the priority list, they are still important factors to consider.

MX Player recognized as a Top Employer in the 2022 India Workplace Equality Index (IWEI)…

MX Player, India’s largest and fastest-growing video-on-demand platform has been recognized as a top employer at the India Workplace Equality Index (IWEI) 2022. MX Player has been honored with the bronze badge, which recognizes the development of inclusive policies and initiation of activities that promote LGBT+ inclusion at work.

With a diverse set of workforce, MX Player has worked consciously towards creating a work environment where all people are truly welcomed, valued and respected — for all of who they are. Considering diversity and inclusion as vital pillars for an organization to thrive, MX Player, in June 2022, introduced #PressPlayForAll for its 100K+ strong LinkedIn family. The brand also has actively taken steps to engage with the LGBTQ+ community at the grassroots level with gender-neutral medical and leave policies, attracting LGBTQ+ candidates through its LinkedIn page and using social media platforms to lead conversations on LGBTQ+ equality.

Speaking on being awarded the bronze badge at IWEI 2022, Karan Bedi, CEO, MX Player, said, “We are humbled to receive this recognition and acknowledge the contribution of every stakeholder in this journey. At MX Player, we have always invested in pioneering initiatives and introduced policies that accept and cherish all employees, thus helping in building a progressive work environment. The IWEI 2022 recognition is a testament to the people-first culture that MX Player has built over the years.”

Commenting on making the workplace diverse and inclusive, Anjani B Kuumar, Global HR Head, MX Player, said, “As an organisation that is deeply invested in the well-being of its employees, our leadership team is committed to building a healthy and safe workplace culture, and inclusion is one of our top priorities. For a young organisation like ours, this recognition by IWEI will further propel us to strengthen our inclusion policies and initiatives.”

IWEI is India’s first comprehensive benchmarking tool for employers to measure their progress on lesbian, gay, bi, and trans (LGBT+) inclusion in the workplace. The index measures nine areas: policies and benefits, employee lifecycle, employee network group, allies and role models, senior leadership, monitoring, procurement, community engagement, and additional work.

To encourage and lead the workforce towards being allies, MX Player also participated in Pride Circle’s Ally Challenge 2022 and pledged to be active allies and invited all employees to participate by sharing their pledges.

Ather Energy starts retailing in Bihar; inaugurates its first Experience Centre in Patna

Patna, 25 November 2022: Ather Energy, India’s leading electric scooter manufacturer, has started retailing in Bihar with the inauguration of its first Experience Centre, Ather Space, in Rukanpura, Patna. The newly launched Gen 3 of Ather’s flagship scooters- Ather 450X and 450 Plus will be available for test rides and purchase at the Ather Space, inaugurated in collaboration with Alankar Energy Pvt Ltd.

Ather Space, the Experience Centre, is a dynamic, tactile, and interactive space that aims to educate customers about every aspect of the vehicle and witness the engineering and mechanical efforts that go into each Ather scooter. Consumers in Patna will receive a unique ownership experience in addition to full service and support. Consumers can book test ride slots on the company’s website before visiting Ather Space.

Ather Energy has grown phenomenally in 2022, with a 202% Y-o-Y growth (April-October) in the number of active Ather scooters on-road. The company recorded the best monthly sales in October, delivering 8213 units. With the inauguration of the second manufacturing facility in Hosur, the company is set to increase its capacity to 400,000 units per annum to cater to the rising demand. Ather now has 69 Experience Centres across 56 cities in India

Speaking on the occasion, Ravneet S Phokela, Chief Business Officer, of Ather Energy said, “With rising awareness and market maturity, EVs are increasingly seen as a premium, cost-effective mode of commute, offering an improved ride and ownership experience. Customers are seeing the value of going electric and are looking to upgrade to electric scooters. This has led to an exponential increase in demand for our flagship scooters across the country. We have seen strong consumer demand with multiple pre-orders and test-ride requests from the state and are excited to make a foray into Bihar. In the coming months, Ather intends to expand across multiple cities in the state.

Ashok Priyadarshee, Director, of Alankar Energy Private Limited, said, “Alankar Energy is proud to partner with Ather Energy and brings Ather Space to the capital city of Patna, Bihar, for the first time. We value this partnership between Alankar & Ather because both brands are backed by a commitment to deliver beyond the expectations of our valued customers. The Ather 450 Plus and 450X are by far the most technologically advanced products in the electric vehicle segment with intelligent features and we look forward to driving the electric revolution in Bihar with Ather”

Ather Energy is one of the few OEMs that also invest in charging infrastructure. There are currently 2 Ather Grids at the Experience Centre and Ather will add 8-10 more in the coming months to alleviate range anxiety and enable a stress-free transition to EVs. The company has over 600 fast-charging grids across the country and plans to install 1400 Ather Grids by the end of FY23. Ather Energy also supports customers with the installation of home charging systems in their flats and buildings.

The ex-showroom price post the Fame II revision for the Ather 450X Gen 3 is INR 1,56,760 & INR 1,35,250 for the Ather 450 Plus Gen 3. The company has partnered with leading banks like SBI, HDFC, and IDFC to provide easy financing options to its consumers. Ather Energy announced a partnership with IDFC Bank earlier this month, allowing customers to own the high-quality Ather 450X for an EMI of just INR 3,456* and INR 2,975* for the 450 Plus, which is less than the monthly expense for most petrol scooter owners.

PropsAMC by Square Yards launches Fractional Ownership Real Estate Investment Platform

New Delhi, 25th November 2022: PropsAMC, the asset management services and data intelligence arm of Square Yards, today launched its maiden fractional ownership real estate investment platform backed by proprietary data & analytical capabilities, offering a 7-9% annual entry yield plus property appreciation targeting a total of 14-15% XIRR on capital invested over a span of 3-6 years. This initiative will open newer avenues for millennials and young professionals to invest in high-grade regular “Income-Generating” properties and secured real estate securities at a fraction of the total price of the property and enjoy attractive returns in a short to medium period of time.

“Real Estate as an asset class always had the inherent qualities to be owned in fraction. Rental, project financing and early buying can all be held on fraction, provided the underlying asset is fully title-secured, rightly valued, and managed by professionals. This can be the biggest alternative investment for investors who like to hedge against pure equity or other debt investments. With fractional ownership, middle-class Indians can now own multiple investable properties with minimum or no development risks and make them a financial instrument to trade in the future,” said Anand Moorthy, Co-Founder & CBO, Asset Management Services and Data Intelligence, Square Yards

“India’s commercial real estate market has for long been dominated by high net-worth individuals and institutions. Fractional investing aims to break this status quo by making commercial property or “income-generating” investing affordable for the average Indian. With Square Yards’ fractional ownership real estate investment program, investors can build a diversified portfolio at a lower acquisition cost. With rental yields of 7-9% per annum, enhancement of yield by rent appreciation of 4-5 percent and finally the capital appreciation of 5-8% every three years, fractional investment is the reigning instrument of good faith at present to perform at 14-18% per annum,” said Tanuj Shori, Founder and CEO, Square Yards.

The concept of real estate fractional investing has attracted the attention of investors as they offer solid yields with predictable cash flows along with capital appreciation in a short period of time, despite market upheavals; something which equity and mutual fund markets cannot assure. It doesn’t carry the volatility of the REITs, which could be due to external reasons or global market sentiments.

Further, every fractional investment option is pre-vetted thoroughly, thus diluting the risk quantum and safeguarding investor monies, and helping the average salary-earning Indian to participate in investments that were once accessible only for HNIs, corporates, and institutions.

The present market capitalization of 3 REITs in India is $10Bn with an average annual payout of approximately 6%. Domestic participation in REITs is less than 25%. Similarly, the active real estate-focused AIF funds in India are a handful and are estimated only to be less than $0.5Bn. The fractional ownership market in India presently is collectively less than 2000 Cr between 3-4 players and is pegged to grow multi-fold and surpass $5 billion in the next few years. We believe, with investments as low as Rs 5 to 25 lakh, fractional ownership opportunities will democratize the real estate investment market and become a lucrative investment avenue for a significant section of the moderately risk-savvy Indian populace.