Archive: May 6, 2022

Venus Pipes & Tubes’ Initial Public Offering to open on May 11, sets price band at Rs.310 to Rs.326 per Equity Share

Chennai, May 06, 2022: Gujarat-based Venus Pipes & Tubes Limited (“The Company”) has fixed the price band at ₹ 310 to ₹ 326 per Equity Share for its maiden public offer. The initial public offering (“IPO”) of the Company will open on Wednesday, 11 May, 2022 for subscription and close on Friday, 13 May, 2022. Investors can bid for a minimum of 46 Equity Shares and in multiples of 46 Equity Shares thereafter.

The IPO is through a fresh issue of equity shares of up to 5,074,100 Equity Shares.

Venus Pipes and Tubes Limited is one of the growing stainless-steel pipes and tubes manufacturer and exporter in the country having over six years of experience in manufacturing of stainless steel tubular products in two broad categories namely seamless tubes/pipes; and welded tubes/pipes. The company holds pride in supplying its wide product range to more than 20 countries internationally.

The company supplies products for applications in diverse sectors including chemicals, engineering, fertilizers, pharmaceuticals, power, food processing, paper, and oil and gas.

The Company has one manufacturing plant which is strategically located at Bhuj-Bhachau highway, Dhaneti (Kutch,Gujarat) in close proximity, around 55 kilometers and 75 kilometers from the ports of Kandla and Mundra, respectively, that helps us in reducing the logistic costs on procurement of raw materials and imports and export of the Products. The manufacturing plant has separate seamless and welded divisionswith latest product-specific equipment and machineries including tube mills, pilger mills, draw benches, swaging machines, pipe straightening machines, TIG/MIG welding systems, plasma welding systems, etc.

For the financial year ended on March 31, 2021, the revenue from operations was Rs 3093.31 million with a net profit of Rs 236.32 million. For nine months ended December 31, 2021, the revenue from operations was Rs. 2767.69 million with a net profit of Rs. 235.95 million.

The Company may, in consultation with the book running lead manager to the Issue, consider participation by Anchor Investors in accordance with the SEBI ICDR Regulations, whose participation shall be one Working Day prior to the Bid/Issue Opening Date, i.e., Tuesday, May 10, 2022. The Issue 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 SEBI ICDR Regulations. The Issue is being made through the Book Building Process, in terms of Regulation 6(1) of the SEBI ICDR Regulations, wherein not more than 50% of the Issue shall be available for allocation on a proportionate basis to Qualified Institutional Buyers, not less than 15% of the Issue shall be available for allocation to Non-Institutional Bidders out of which a) one third of such portion shall be reserved for applicants with application size of more than Rs. 0.2 million and up to Rs. 1.0 million and (b) two-third of such portion shall be reserved for applicants with application size of more than Rs. 1.0 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 Bidders and not less than 15% of the Issue shall be available for allocation to Retail Individual Bidders in accordance with the SEBI ICDR Regulations, subject to valid Bids being received from them at or above the Issue Price.

All capitalized terms used herein and not specifically defined shall have the same meaning as ascribed to them in the red herring prospectus dated May 2, 2022 (“RHP”) filed with SEBI and the stock exchanges.

Disclaimers: VENUS PIPES & TUBES LIMITED is proposing, subject to receipt of requisite approvals, market conditions and other considerations, to make an initial public issue of its Equity Shares and has filed the RHP with the RoC and thereafter with SEBI and the Stock Exchanges. The RHP shall be available on the website of the SEBI at www.sebi.gov.in as well as on the website of the BRLM, SMC Capitals Limited at www.smccapitals.com, the website of the National Stock Exchange of India Limited at www.nseindia.com and the website of the BSE Limited at www.bseindia.com. Investors should note that investment in equity shares involves a high degree of risk and for details relating to such risks, see “Risk Factors” on page 23 of the RHP. Potential investors should not rely on the DRHP filed with SEBI for any investment decision.

The Equity Shares have not been and will not be registered under the U. S. Securities Act of 1933 (the “U. S. Securities Act”) or any state securities laws in the United States, and unless so registered, and may not be offered or sold within the United States, except pursuant to an exemption from, or in a transaction not subject to, the registration requirements of the U. S.

Securities Act and applicable U. S. state securities laws. Accordingly, the Equity Shares are being offered and sold outside the United States in offshore transactions in reliance on Regulation S and the applicable laws of each jurisdictions where such offers and sales are made. There will be no public offering of the Equity Shares in the United States.

This announcement does not constitute an offer of securities for sale in any jurisdiction, including the United States, and any securities described in this announcement may not be offered or sold in the United States absent registration under the U. S. Securities Act or an exemption from such registration. Any public offering of securities to be made in the United States will be made by means of a prospectus that may be obtained from the Corporation or the Selling Shareholder and that will contain detailed information about the Corporation and management, as well as financial statements. However, no public offering of securities in the United States is contemplated.

DISCLAIMER CLAUSE OF SEBI: SEBI only gives its observations on the offer documents and this does not constitute approval of either the Offer or the specified securities stated in the Offer Documents or the offer document. The investors are advised to refer to page 297-298 of the RHP for the full text of the disclaimer clause of SEBI. 

DISCLAIMER CLAUSE OF BSE (The Designated Stock Exchange): It is to be distinctly understood that the permission given by BSE Limited should not in any way be deemed or construed that the RHPhas been cleared or approved by BSE Limited nor does it certify the correctness or completeness of any of the contents of the RHP. The investors are advised to refer to the page 300 of the RHP for the full text of the disclaimer clause of the BSE Limited.

DISCLAIMER CLAUSE OF NSE: It is to be distinctly understood that the permission given by NSE should not in any way be deemed or construed that the Offer Document has been cleared or approved by NSE nor does it certify the correctness or completeness of any of the contents of the Offer Document. The investors are advised to refer to page 300 of the RHP for the full text of the disclaimer clause of NSE. 

For further details in relation to the Company, BRLM, Company Secretary and Compliance Officer of the Corporation, availability of application forms and RHP, please refer to statutory advertisement published on May 6, 2022.

Celebrate this Mother’s Day with Snap’s latest creative AR-Lens

Thinking of how to let your mom know how much you love her this Mother’s Day? Why not send her a Snap! After all, a picture is worth a thousand words!

This year, Snapchat has released a pink rose themed Happy Mother’s Day lens for Snapchatters to celebrate their mum. Pink roses, symbolic of admiration and gratitude are the perfect way to let your mother know how much you love and appreciate her.

And there’s more!

To express your love with a fun twist, the I love you, Mom lens is one that promises to AR-impose your mum’s beautiful smile onto the apple of your cheeks. A lens so cute that it’s bound to add happiness to your mum’s day when she sees a reflection of herself in you.

Want to send your mom virtual roses and love?

Scan the Snapcodes below to bring alive these adorable lenses and wish your mom a very Happy Mother’s Day!

ICICI Prudential Life Insurance launches new annuity plan: ICICI Pru Guaranteed Pension Plan Flexi

India, May 06, 2022: ICICI Prudential Life Insurance has launched ICICI Pru Guaranteed Pension Plan Flexi, a regular premium payment annuity product, which enables customers to systematically save and build retirement savings over the long-term. This product has been specifically designed to address the need of customers to make regular contributions towards building a savings pool and receive a life-long guaranteed income to lead a financially independent retired life.

To cater to the varied needs of customers, ICICI Pru Guaranteed Pension Plan Flexi is available in seven variants, the unique ones being Life Annuity with Accelerated Health Boosters and Life Annuity with Booster Payouts. These unique variants have been designed for customers seeking annuity products that offer guaranteed life-long income along with additional liquidity to meet their healthcare and lifestyle needs.

With the Accelerated Health Booster option, the customer gets additional payout on being diagnosed with difficulties in performing activities of daily living. This additional cash flow is useful as it can enable customers to meet expenses towards medical care.

The Booster Payout option provides individuals with five lump sum payments in addition to their annuity. This can help customers to plan and achieve their post-retirement goals, such as travelling, starting a hobby, or gifting a grandchild using these periodic payouts.

The ICICI Pru Guaranteed Pension Plan Flexi Joint Life Annuity option comes with the Waiver of Premium benefit which is useful in case of the demise of the first holder during the premium paying term. In such a scenario, all future premiums are waived off while ensuring the second or joint holder receives a life-long guaranteed regular income upon conclusion of the deferment period. Upon the demise of the joint holder, the total premiums invested are paid out to the nominee(s), which can act as a legacy planning tool.

The product also allows for the Return of Premium and the option to surrender the policy upon diagnosis of specific critical illnesses or permanent disabilities. This ensures that customers can use the funds for medical treatment.

Mr. Amit Palta, Chief Distribution Officer, ICICI Prudential Life Insurance, said, “The pandemic has disrupted livelihoods leading individuals to lay greater emphasis on safeguarding savings and income, especially on retirement. Typically, annuity products can be purchased by making a lump sum premium payment. Therefore, ICICI Pru Guaranteed Pension Plan Flexi has been specifically designed to provide flexibility to customers to make wallet-friendly regular contributions over the long-term to build the desired retirement savings pool. We believe the option to make regular premium payments will enable a larger section of the country’s population to plan for their golden years in advance. This is in line with our vision of building an enduring institution that serves the protection and long-term saving needs of customers with sensitivity. As a customer-centric organisation, we constantly endeavour to develop products that address the needs of customers while our digital platform provides them with an immersive and hassle-free experience across the policy life-cycle. 

ICICI Pru Guaranteed Pension Plan Flexi, a multi-purpose and innovative annuity product, provides additional liquidity by making payouts which enable customers to achieve financial goals or meet expenses towards medical treatment, as the case may be. As a rule of thumb, individuals require between 70%-90% of their pre-retirement income to lead a comfortable retired life. With rising prices, increasing healthcare costs and higher life expectancy, it is imperative that individuals have an annuity plan in their financial portfolio.”

Fund Ka Funda – ABP News’ flagship personal finance show is back

Noida, 6 May 2022: ABP News is back with its pioneering show on personal finance – Fund Ka Funda. The show is focused on providing a thorough analysis about personal finance to the general public, in a simple yet comprehensive manner. Fund Ka Funda’s guiding idea is to assist the general public in managing their personal assets via information and skill rather than hearsay. Starting from 1st May, 2022, the show will be airing at 1:30 pm every Sunday for a duration of 30 minutes.

Mehraj Dube, a seasoned anchor is making a comeback with Fund Ka Funda. Mehraj has anchored popular shows like Money Mantra and Sabse Bada Rupaiya for NDTV channels. An ISB MBA, Dube currently is Head of Marketing of ABP Live and Trade Marketing.

Commenting on their collaboration with ABP News, Sachin Kumar, Founder and Managing Director, Dhanu Group said, “In today’s world, financial literacy is a highly debated topic, and we are glad to be partnering with ABP News as the channel cares about its audience and is consistently trying to bring awareness for their benefit. I am confident through this show the general public will benefit immensely as they will get to connect with investment experts.”

Speaking about their association with ABP News, Girirajan Murugan, CEO of FundsIndia, said, “I believe the Fund Ka Funda programme would be a great way of educating millions of people in one go. I congratulate ABP news in this effort of theirs to spread financial literacy and I am glad to be a part of this step toward creating a more financially literate India.”

ABP News’ Fund Ka Funda will be hosting a special guest Dhirendra Kumar, CEO, Valueresearchonline.com, on the show. He is the most bona fide voice in the mutual fund sector, as well as a global pioneer in mutual fund research. Previously, Dhirendra Kumar was the most trusted investment counsellor on the news genre, appearing on STAR News Fund Ka Funda from 2004 until 2010. He also contributes to The Economic Times and Dainik Jagran, as well as publishing financial periodicals and news portals.

The weekly themes of the show will include stories and short discussions. The show will cover the week’s major investment news and analyze its implications. The areas of key discussions during the show would be upcoming IPOs, impact of big government decisions on investment, and whether real estate prices currently are rightly valued or not. The show aims to be a one stop destination for all your investment queries.

According to a survey, 330 million people shopped online in the year 2020. However, only a small fraction of that number of people invest online. ABP News believes that there is a large number of audience waiting to invest their money at the right place with the guidance of an authentic source. ABP News’ Fund Ka Funda plans to connect with this audience and provide them with valuable insights that will help them invest their money at the right place.

Fund Ka Funda also wishes to highlight that not all investors are financially literate. The financial literacy of the country is low and there has been a huge increase in individual investors in the Indian stock market in the financial year of 2021. However, a large chunk of these investors lack the knowledge required to make financially sound decisions. Fund Ka Funda aims to help these individuals to assess all the dynamics of investment before investing their money.

Redcliffe Lifetech raises $61 million led by LeapFrog Investments to expand access to affordable, high-quality diagnostic tests across India

New Delhi, India, 6 May, 2022 –Redcliffe Lifetech (Redcliffe), one of India’s leading diagnostics platforms, today announced it has raised $61 million led by LeapFrog Investments (LeapFrog), with participation from Healthquad, Schroders, LC Nueva, Growth Spark Ventures and existing investors Chiratae Ventures and Alkemi Venture Partners.

The investment will be used to expand Redcliffe’s geographic reach across India, with a focus on expanding its low-cost but high-quality Direct to Consumer Diagnostics into tier 2, 3 and 4 cities, providing affordable, rapid, and convenient pathology services from glucose to genetics in millions of households. Funding will also be used to scale Redcliffe’s platform and increase its product offerings to radiology, disease data profiling and lifestyle management, furthering its mission to shift India’s healthcare focus from treatment to early diagnosis and prevention.

“Preventative medicine is the future of health in India, helping to empower the average Indian with the information they need to take charge of their health and wellbeing,” Dheeraj Jain, Founder of Redcliffe Lifetech said. “Redcliffe has built a one-stop diagnostic shop offering a very wide selection of tests to choose from and delivering care closer to the customer. This investment will help us scale rapidly to achieve our goal to reach 500M+ Indians within the next five years.” 

“Redcliffe is an exemplar of LeapFrog’s focus on digital-led and asset-light business models that enable access to essential healthcare services to emerging consumers,”said Biju Mohandas, Partner and Global Co-Leader for Health Investments at LeapFrog Investments. “Its innovative and disruptive approach is transforming healthcare in the region by bringing consumers closer to the point of care and removing barriers to access. Furthermore, Redcliffe’s vision of shifting healthcare from treating the sick to enabling wellness will have profound implications for millions. We’re thrilled to be partnering with Dheeraj and his management team to further scale their reach across India.” 

Redcliffe delivers world-class diagnostics services in its network of22state-of-the-art labs across 14 cities, several of which are already NABL accredited. Redcliffe also has a team of key-opinion leaders in the pathology sector who oversee operations and quality. Redcliffe’s unique omni-channel infrastructure, which combines innovative online channels with a fleet of 400 highly-trained phlebotomists operating in 100+ cities with home sample collection and an off-line network of500 collection centres, enables the company to offer more than 3,500 different pathology and specialised tests including genetics at highly affordable prices around 25-60% less than traditional competitors.

“Redcliffe operates at the intersection of healthcare and technology, developing innovative solutions that address persistent challenges in the Indian market. It has built a proprietary technology platform for outstanding consumer experience also enabling scaling of its operations at their labs, fulfilment and overall CRM. It has also piloted drone technology across its supply chain to reach consumers living in smaller cities, semi-urban and remote areas that are often difficult to reach with existing infrastructure. Redcliffe has also co-developed a first-of-its-kind live, remote temperature tracking to monitor the samples collected by phlebotomists and ensure they maintain adequate temperature to meet quality and safety standards”, said Ranjith Menon, Partner Chiratae Ventures.

Redcliffe’s affordable diagnostics are helping to reduce the burden of non-communicable diseases (NCDs), such as heart disease, cancer, and diabetes, which currently kill over 6 million Indians each year. NCDs are rising in India as the percentage of the population over 60 surges, and diets and lifestyles change across the country. Early diagnosis also helps mitigate the severe financial shocks related to NCDs through ongoing hospitalisation, which on average will push 47% of Indian households to incur out-of-pocket expenses exceeding their capacity to pay[1].

With a population of nearly 1.4 billion, 65 percent of India’s population still lives in rural areas[2], and access to care is an ongoing challenge. This increased convenience and the cost-effective approach enables consumers to undergo tests more frequently, encouraging more healthy behaviour and leading to early detection of disease to ultimately reduce the health burden on households. The collection of samples by mobile phlebotomists also reduces the time involved in getting a test, freeing up time for more productive purposes.

O3 capital acted as financial advisor on the transaction.

Noida International University’s School of Nursing conducts blood donation camp

Noida: Noida International University’s (NIU) School of Nursing in association with Buddha Charitable Trust recently organized a day-long blood donation camp at Sir Issac Newton building, Greater Noida. The students of the University gathered in large numbers for the noble cause. 83 units of blood were donated carefully, sealed and transported.

The camp began at around 11:30 am with the arrival of NIU’s Vice-Chancellor Prof. (Dr) UmaBhardwaj, Pro-Vice-Chancellor Prof. (Dr) Parsanjeet kumar, HOD’s Faculties, staffs and most importantly the young and energetic students of NIU. It continued up to 4:00 pm, with a steady stream of donors throughout.

The camp was organized and carried out actively and successfully under the supervision of respected Director Sir Prof. (Dr.) Dinesh Kumar and guidance from Ms. Manju Rajput (Vice Principal) along with other faculty and staff members of School of Nursing.

“There has also been a steep decline in the units of blood collected and in the number of blood camps since the national lockdown that began in March 2020 – despite an NBTC advisory recommending that donation services continue with precaution. It has also been observed that people above 45 who got both their jabs by now are also not coming out as they feel donating blood diminishes the vaccine’s effect. There are many myths going on regarding blood donation after or before vaccination. So, we have organized this camp to bust such myths,” said Dr. Dinesh Kumar, Director School of Nursing, Noida International University.

Paytm offers exciting cashback of upto ₹1,000 on LPG cylinder bookings to help citizens amid rising prices

Mumbai, 6th May 2022: One97 Communications Limited (OCL) that owns the brand Paytm, India’s leading digital payments and financial services company, today announced two exciting cashback offers on LPG cylinder bookings and payments in a bid to help users cope with rising gas cylinder prices across the country. The two offers are already live on the Paytm App.

The offer for new users allows individuals to win a cashback of Rs 50-Rs 1,000 on first LPG gas cylinder booking or payment of existing booking through Paytm. All they have to do is enter the promo code ‘FIRSTGAS’ during the transaction. The other cashback offer applies to all existing users, where they can win a cashback of Rs 10-Rs 1,000 by entering the promo code ‘GAS1000’ while booking an LPG cylinder or paying for an existing booking through Paytm.

Paytm spokesperson said, “At Paytm, we remain committed to empowering users in their daily lives with our diverse payments and financial services, ranging from all forms of utilities payments to loans, healthcare services and more. We have introduced the two new cashback offers on LPG cylinder bookings and payments for our new and existing users to help reduce the burden of rising gas prices across the country. The new cashback offers, combined with our seamless booking and payment facility for gas cylinders, will further enhance the experience for our customers.” 

Over 2 crore gas cylinder deliveries have been completed through the Paytm App, reflecting its growing popularity among users across the country. The app allows customers to instantly book and pay for gas cylinders through a host of payment instruments like Paytm Wallet, UPI, debit or credit card, net banking and Paytm Postpaid (BNPL). Additionally, users can also seamlessly track the delivery through the Paytm Super App.

Other than booking gas cylinders, Paytm also enables users to pay for piped gas connections offered by over 25 providers across the country. Paytm also empowers users with a host of utility bill payments including mobile recharge, DTH recharge, electricity, apartment, water, cable TV and more.

Antica Ceramica launched Persian Tiles Collection

A leading tile manufacturer in India, Antica Ceramica recently introduced the “Persian Tiles Collection” at its flagship store and other retailers nationwide. The Persian Tiles Collection is considered a premier product that has been known for many decades in the tile manufacturing industry and has been designed to enhance and improve aesthetics around any home or office space.

The Persian Tiles Collection is ideal to be used in commercial and residential interiors. With their striking feature of the Persian effect, these tiles come with a Zion & Ryan finish that will add a visual pop to any kitchen or floor of your home or business. Boasting UV and slip-resistant features that make them soft but incredibly strong for those high traffic areas, you can count on these tiles to stand up firmly through anything. Available in the size of 600 x 1200 mm with a thickness of 10 mm, you can trust that these tiles are exactly what you need to give your next project a unique new look!

According to Mr. Rahul Bhugra, Director- of Antica Ceramica, “Inspired by Persian art, these tiles are highly durable having a thick layer that absorbs the stains and dirt while being resistant to water and bacteria. These tiles are also produced with non-slip textures to strike the right balance between functionality and design. Aesthetics aside, they make space look elegant and interesting”.

Price: On Request

Available at:

Antica Ceramica

40, Raja Garden,

Opp. Metro Pillar No. 371,

New Delhi -110015

Tel: 9891075770