Archive: March 22, 2023

Adani Gangavaram Port completes Beach Nourishment & organises a Mega Medical Camp

Visakhapatnam: March 23rd, 2023: Adani Gangavaram Port the deepest and the most modern port in the country today completed its annual beach nourishment drive near Yarada beach. The Port had taken up beach nourishment works under its CSR initiative for the development of community infrastructure. The team conducted beach cleaning activity at Yarada beach by refurbishing 1.4 Lac Cubic Meters of sand near the seashore & repaired the connecting road in an effort to improve the facilities.

Adani Gangavaram Port Limited in association with Adani Foundation also conducted monthly Medical camps at Gangavaram, Dibbapalem, Srinagar Colony & Jalari Pallipalem Villages. The free health check-up camp was attended by eminent doctors from Vizag along with the Sr. Management of Gangavaram Port. The camps were attended by more than 1000 people from Gangavaram and its surrounding Villages. The eye camps were attended by 800 members, and nearly 340 people were provided with spectacles based on the ophthalmology consultation and distributed free of charge at the camp

Speaking on the occasion Adani Gangavaram Port Limited management said “This Beach nourishment program & medical camps are conducted as a part of our CSR program. We are committed to the people of the community in developing infrastructure, Livelihood & healthcare facilities for the underprivileged people from the communities in our neighborhood. Community health & development is a core focus & this is a step towards ensuring healthcare & commitment to the quality of life of the local community. Adani Gangavaram Port Limited is also planning to engage with the people on Skilling, Health Care & infrastructure in the future.

EXZOD India has revolutionised pallet manufacturing in India

Mumbai, March 22, 2023: The pallet industry has been working to find new ways to keep the supply chain moving. Leading the change is EXZOD India, a leading player in pallets manufacturing, sale, and AMC. It has revolutionized pallet manufacturing in India to highlight the environmental virtues of wooden pallets.

Nitin Kalla, Founder and Managing Director, of EXZOD India, says wooden pallets have become the go-to for many customers because of their sustainability and durability.

“Wood is a natural resource and is locally available. Compared to soft imported wood, wooden pallets are economical and highly customizable. Plastic pallets are 2.5x more expensive in contrast to wooden pallets. Besides, wooden pallets are 100% recyclable and good for the environment. Wood has always been a safe, durable, sustainable, and cost-effective material for pallet design, as it is repairable, recyclable, and reliable.”

At the same time, the company recognizes the need to educate customers and the public about product eco-friendliness.

“We are focused on delivering sustainable solutions that align with our customer needs. Our portfolio of products is evolving to meet the changing market needs by also looking to develop the right products at the right price to meet supply chain demands,” added Nitin Kalla.

EXZOD provides wooden pallets and packaging boxes used for storing and moving finished products / raw materials in industries such as FMCG, Retail, Automobile, etc. The company aims at managing a pool of assets pallets, which it intends to maintain for its clients across India. AMC is a strategic business option for companies for reducing capital expenditure, repair costs and improve handling processes. The company’s expertise in the supply chain space allows it to provide customized solutions as per requirement. The company provides technology-embedded AMC Services which is the only organized player present in the industry. The idea is to revamp the traditional nail & hammer AMC approach with the automatic AMC approach embedded with advanced robotics.

EXZOD has three manufacturing units in Punjab, Maharashtra and Haryana equipped with state-of-the-art automatic pallet manufacturing machines and is geared up for its fourth pallet manufacturing facility in Hyderabad.

Stay Summer ready with Better Beauty

Mumbai, March 2023 – As the weather transitions from cool to hot, the intense heat can cause various skin issues such as tanning, dullness, pigmentation, uneven skin tone, and sun spots. Pollution and humidity only add to the issues that we face. To combat these problems and take better care of your skin during the summer, it’s important to stay hydrated and protect your skin. Better Beauty’s VC20 Intense Boost and Skin Buffet serum can be helpful in achieving these goals, allowing you to enjoy the summer season without worrying about the impact on your skin.
Better Beauty is a collection of clean beauty skincare products created by Anita Hassanandani and available on Vanity Wagon, Amazon, and the Better Beauty website.

VC20 Intense Boost Face Serum

Vitamin C, Ferulic Acid, and Hyaluronic Acid are the major ingredients that make the VC 20 Intense Boost Serum distinct from others. The skin will look more radiant and will be protected from free radicals and sun damage by including vitamin C in your daily skin care regimen. A plant-based antioxidant called ferulic acid is mostly used to combat free radicals. It frequently functions well with additional antioxidant components, particularly Vitamin C.

Skin Beauty Buffer Face Serum

Along with Hyaluronic Acid, Glycoin Natural, and other nutrients, the Skin Beauty Buffet is supplemented with Niacinamide and Alpha Arbutin as its key ingredients. Alpha Arbutin is a natural skin lightener that helps erase pigmentation and spots while balancing out skin tones. Tyrosinase activity, which controls the amount of melanin produced by your skin, is inhibited by this substance. Lesser tyrosine and melanin result in decreased pigmentation, black patches, and an evener complexion. A stable vitamin with numerous well-established topical advantages is niacinamide. Niacinamide works as an antioxidant to fight free radicals, reduces hyperpigmentation, improves skin suppleness, lessens redness and blotchiness, and hydrates the skin. It improves skin brightness, lessens acne, restores the skin barrier, and is excellent for sensitive skin and redness.

Bank of Baroda donates two drinking water kiosks to Sanjay Gandhi National Park

Mumbai, March 22, 2023: Bank of Baroda (Bank) today provided two drinking water kiosks to Sanjay Gandhi National Park, Borivali (SGNP) as part of its ESG activities. One drinking water kiosk is located at the front office, while the second one is situated at the entrance gate of the iconic Kanheri Caves inside Sanjay Gandhi National Park. Bank of Baroda’s Executive Director Shri Lalit Tyagi inaugurated both the drinking water kiosks on the auspicious day of Gudi Padwa. Senior Forest Officials from SGNP, runner groups & a large number of Bank’s staff were also present.

The two drinking water kiosks are strategically positioned at locations where drinking water facilities are most in demand by visitors to the Park. The two kiosks will provide pure and cool drinking water to visitors and staff working at SGNP. The water kiosks have water coolers with RO facilities ensuring pure potable water. Sanjay Gandhi National Park is spread across a total area of 103 square kilometers and is visited by over 2 million visitors every year. About 20,000 people have daily passes for their morning walk in the national park. The Kanheri Caves are located within the SGNP and the Park has a total of 109 caves.

Speaking on the occasion, Shri Lalit Tyagi, Executive Director, Bank of Baroda said, “Sanjay Gandhi National Park is well known as a unique green oasis – providing citizens of Mumbai a green sanctuary where they can enjoy nature and wildlife, walk, exercise and breathe in fresh air right in the heart of the city. At Bank of Baroda, we recognize our role as a responsible constituent of this country and we are pleased to join hands with SGNP to provide safe and clean drinking water facilities. The drinking water kiosks will be especially appreciated during the summer season when the Park witnesses a huge inflow of children, tourists, trekkers, cyclists, and elderly people. Similarly, it will be a boon for the numerous people across age groups who visit the National Park daily to run, cycle and walk.”

Bank of Baroda is committed to contributing towards a greener and more sustainable planet.

Contentstack Adds OpenAI ChatGPT Integration to its Industry-Leading Composable Digital Experience Platform

Mumbai – March 22, 2023 – Contentstack, the leading Composable Digital Experience provider (DXP), today announces an OpenAI ChatGPT integration for its industry-leading headless CMS. This marks a first for the headless CMS category and an exponential gain in content creation velocity for Contenstack customers. Content teams can now create, test, and even translate short or long-form content in seconds using the new AI assistant.

The new integration brings the power of ChatGPT instantly to the point of content creation through in-line UI extensions, allowing teams to create brand and tone-specific content in seconds. Content editors and publishers can quickly and easily create summaries, outlines, metadata tags and descriptions, headlines, and even full-length keyword-optimized blogs all with just a few clicks. They can even have it all translated with just a single prompt to the assistant.

ChatGPT is an artificial intelligence chatbot developed by OpenAI and launched in November 2022. It is built on top of OpenAI’s GPT-3 family of large language models and has been fine-tuned using both supervised and reinforcement learning techniques. ChatGPT crossed the 100 million user mark in January 2023, faster than any other online platform, and received a $10B USD investment from Microsoft.

The new integrated AI assistant is part of Contentstack’s broader Composable DXP vision bringing the power of AI and automation technologies to radically simplify the creation and delivery of digital experiences. The vision embraces Contentstack’s core better together foundational elements – Headless CMS, Marketplace, Automation Hub, Launch – from the back-end to the front-end so teams can meet the demands of their business faster.

The ChatGPT integration is expected to be generally available in Spring 2023 via a 1-click integration accessible through the Contentstack Marketplace. Existing customers can sign-up today to gain access through the company’s Early Access technology program.

“AI fits hand-in-glove with headless CMS and more broadly with a modern Composable DXP stack,” said Conor Egan, VP of Product at Contentstack. “The ChatGPT integration is just the tip of the iceberg in terms of new AI-assisted functions and capabilities. Ultimately, we see AI and automation technologies touching virtually all facets of the digital experience stack, transforming content creation, code development, and asset creation forever.”

SBFC Finance refiles DRHP, Promoter OFS size reduced

Mumbai-based SBFC Finance Limited a non-deposit-taking non-banking finance company (“NBFC-ND-SI”) has refiled draft red herring prospectus (DRHP) with the market regulator Securities and Exchange Board of India (SEBI) and reduced its Initial Public Offering (IPO) size to Rs 1200 crore from Rs 1600 crore planned earlier. The initial share-sale comprises fresh issuance of equity shares worth Rs 750 crore and an Offer for Sale (OFS) of Rs 450 crore.

The company had filed preliminary IPO papers with Sebi in November last year.

The offer for sale comprises up to Rs 207.75 crore by Arpwood Partners Investment Advisors LLP, Rs 50.99 crore by Arpwood Capital Private Limited, Rs 41.26 crore by Eight45 Services LLP, and Rs 150 crore by SBFC Holdings Pte. Ltd. The offer also includes a reservation for subscription by eligible employees.

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

The company in consultation with merchant bankers may consider issuing equity shares on a private placement basis, aggregating up to Rs. 150 crores. If such Pre-IPO placement is completed, the fresh issue size will be reduced.

The proceeds from the fresh issuance worth Rs 750 crores will be used towards augmentation of its capital base to meet future capital requirements. As of December 31,2022 the companies CRAR stood at 33.23%.

As per the crisil report stated in the DRHP, the company amongst all MSME focused NBFCs has had the highest assets under management growth, Between FY2019 and FY2022 its growth at a CAGR of 40%. It the lowest proportion of AUM arising out from the largest state in its portfolio and has maintained so despite its growth since its inception in 2017.

The lender provides financial assistance to entrepreneurs, small business owners, self-employed and salaried individuals. 81.57% of its MSME Loan customers have a CIBIL score above 700 at the time of origination.

Backed by marquee institutional investors, SBFC Finance focuses on disbursing loans with a ticket size in the range of Rs 0.50 million to Rs 3.00 million and as of December 31, 2022, 86.48% of its AUM had ticket sizes in this range. It has a 137 branch footprint in 105 cities across 16 states and 2 union territories and has grown from 40,432 customers in FY20 to 94,997 customers as on December 31, 2022.

The organization is chaired by Mr. Neeraj Swaroop, Chairperson, and Independent Director. The key management team members include Mr. Aseem Dhru, Managing Director and Chief Executive Officer, and Mr. Mahesh Dayani, Chief Business Officer, among others.

SBFC’s revenue from operations stood at Rs 529.05 crore in Fiscal 2022 against Rs 507.10 in FY21. It reported Rs 525.25 crore for the nine months ended December 31, 2022. It has also seen an increase in its profitability due to reduction in finance costs, increase in fees and commission from Rs 64.52 cr in FY22 to Rs 107.03 cr as on December 31,2022.

In December 2022, SBFC incorporated a subsidiary, SBFC Home Finance Private Limited, through which it intends to commence its housing finance business focusing on affordable housing loans to individual borrowers from the EWS, LIG, and middle income segments.

As of March 31, 2022 the Crisil report in its DRHP states that less than 15% of the approximate 70 million MSMEs in India have access to formal credit augmented by lower credit penetration in tier 2 and tier 3 cities.

ICICI Securities Limited, Axis Capital Limited, and Kotak Mahindra Capital Company Limited are the book-running lead managers and KFin Technologies Limited is the registrar of the offer. The equity shares are proposed to be listed on BSE and NSE.

Paytm launches ‘Cancel Protect’, empowers users to get 100% refund on cancellation of train tickets and provides instant refund

Mumbai: 22nd March 2023: One97 Communications Limited (OCL) which owns the brand Paytm, India’s leading payments and financial services company and the pioneer of QR and mobile payments, today announced that it has empowered Paytm Super App users to avail of Free Cancellation on train ticket bookings with ‘Cancel Protect’.

With the ‘Cancel Protect’ cover, users can claim a 100% instant refund on train ticket bookings that are canceled through Paytm at least 6 hours before the scheduled departure time or before the chart is prepared, whichever is earlier. ‘Cancel Protect’ enables travelers to cancel both regular and Tatkal train tickets anywhere, anytime with no questions asked.

With Paytm, users can enjoy zero payment charges on train tickets booked through Paytm UPI. Users can book Tatkal tickets, check the live train running status and track the platform number and check the PNR of all tickets booked on Paytm or other platforms.

Repsol Honda Team begin 29th year of competition in MotoGP

March 22, 2023: The longest season in MotoGP history will begin this weekend at the Autodromo Internacional do Algarve, Marc Marquez, and Joan Mir ready to battle in 2023.

With two busy pre-season tests completed, the Repsol Honda Team arrive back in Portugal for the first race of the 2023 MotoGP World Championship season. For just the second time since 2006, the season will begin in Europe and then move around the world over 21 Grands Prix. 2023 presents a new format to the weekend with a Sprint race introduced on Saturday where riders will compete in a shortened race format for half points (12 points for victory, down to 1 point for ninth). A full-length Grand Prix will continue to take place on Sunday for the full 25 points.

Marc Marquez enters his 11th season in the iconic Repsol Honda Team colors, the eight-time World Champion is now back to full fitness after three seasons impacted by the injury. A busy off-season had Marquez working through a number of items for HRC and the #93 is eager to now turn his attention to racing. This is set to be his third appearance at the Portimao circuit, with Marquez achieving a best finish of sixth place aboard the RC213V in 2022.

The opening Grand Prix weekend of the year will see Joan Mir line up for the first time as part of the Repsol Honda Team, the 19th different rider since 1995 to wear the colors full-time. Testing has seen steady improvements for the two-time World Champion and carrying this upward trajectory is his and the team’s primary focus in the early races of the season. Mir’s best finish in Portugal came in 2021 when he ended the race in third place.

The action begins with Free Practice 1 at 10:45 Local Time on Friday, March 24, followed by an hour-long Free Practice 2 session at 15:00 Local Time. The inaugural Sprint race be held at 15:00 Local Time on Saturday, March 25 with the Portuguese Grand Prix itself scheduled to start at 14:00 Local Time and run over 25 laps.

Marc Marquez

“The start of another season is here, and you always get this excitement and feeling before you go racing again. We’ve had a busy off-season where we have been gathering a lot of data and aiming for the future. Now we must start and focus on the opening races and remember that racing and testing are very different. This year we have the new challenge of the Sprint on Saturday, a short and intense race that I am sure will bring the fans a lot of excitement. I’m really looking forward to getting back on the Honda RC213V for the 11th season with the Repsol Honda Team.”

Joan Mir

“My racing debut with the legendary colors of the Repsol Honda Team is now just a few days away. It’s a moment I have dreamed of, to line up on the grid as a Repsol Honda Team rider. There’s still work to be done, and we still have some things to confirm and improve but racing brings a different kind of intensity. Let’s see what we can do in Portimao, the important point is to keep building from where we finished the test and make consistent steps forward.”

DIC India Inaugurates its new state-of-the art manufacturing facility in Gujarat

Mumbai, 22 March 2023: The leading manufacturer of printing inks, innovative packaging solutions, and allied material in the country, DIC India Limited , part of DIC group, Global Leaders in printing and packaging Inks , today inaugurated its advanced and latest Toluene free plant ‘Optima’ for Liquid Ink manufacturing at Saykha in Bharuch district, Gujarat.

Spread across a vast area of 92,500sqm, the plant has the capacity to manufacture over 10,000+ Tonnes of TF, KF/NTNK (Toluene Free/ Ketone Free) liquid inks in two shifts in phase -I . The plant will be further augmented to produce value added and specialty products for domestic and export markets.

Set up with a total investment of INR 1100 Mn for phase -I the new plant will provide direct employment to more than 100 associates with the aim to cater to the growing demand of toluene free and ketone free based inks in the country.

With this new plant, DIC India will now have an expanded footprint in India. Its other four plants are at Kolkata, Uttar Pradesh, Gujarat (Ahmedabad), Karnataka.

Established at the center of the chemical hub of India, the strategic location gives the company close access to the Northern and Western markets that drive majority of the demand in the segment. The plant boasts of a bulk line manufacturing facility for supplying standard and specialty TF, KF/NTNK inks.

Constructed with care, the plant, called OPTIMA plant is laden with latest technological features to cater to the growing demand in the country at present. The plant has also been designed to accommodate future expansion needs of the company. The Optima plant will also work towards strengthening the company’s business in export markets.

Speaking on the occasion, Mr. Paul Koek, Regional Managing Director, DIC Asia Pacific said,

” The Indian market is a priority market for DIC group and this new manufacturing facility has been established with the vision of catering to the new demand as well as usher in new growth prospects for us in the country. As a market leader in printing ink manufacturing, we are bringing more advancement in our manufacturing processes to augment our quality and customer service, meet the rising demand and maintain global standard at all our touch points. This facility , with a strong inbuilt design features which will expand sustainability footprint of DIC India will benefit customers, generate employment as well as solidify our over 75 years presence and leadership in India.”

Mr. Manish Bhatia,MD & CEO at DIC India Limited, said, “India is a strategic market for us and our long standing journey in the country is a testimony to the success we have achieved over the years. The market is witnessing increased demand for technological superior and specialty printing inks for packaging. The inauguration of the new facility is another stepping stone for the company’s future expansion plans here. The new plant set up has been constructed using leading technological features to modernize as well as to increase production efficiencies. This plant is a completely Toluene free plant for DIC India. We are optimistic that the manufacturing facility will help in catering to both domestic as well as international demand and expand our footprint in India.”

Out of the plant’s 92,500 sqm, 45,000sqm has already been constructed under Phase 1. The area will be used for consolidation of different plants and different types of products of DIC Indian Operations.

DIC is in the process of getting green certification for the site . This will be probably the first plant in India to achieve this accreditation. Optima site, as the plant is called produced TF and KF products are also compliance with international regulations. The company also aims to achieve ISO and OSHAS certification post the stabilizing of production of the Optima plant by the year 2023-34.The plant will support our customers in their sustainability compliance.