Tag: Managing Director

Odisha

IMFA celebrates 60th Foundation Day; Board approves 1:1 bonus shares

Nov 26, 2021 by Rekha Nair 0 Comments #Managing Director, #Mr Subhrakant Panda

Bhubaneswar, November 26th, 2021: Indian Metals & Ferro Alloys Ltd (IMFA), India’s leading fully integrated producer of ferro alloys celebrated its 60th Foundation Day which also coincides with the 90th birth anniversary of its Founder Dr Bansidhar Panda. Commemorative events were held at the Corporate Office in Bhubaneswar besides Therubali, Choudwar & Sukinda. The special anniversary logo released on this occasion depicts the transformative journey of six decades and references infinity to signify many more milestones to come.

Dr Bansidhar Panda, a research scientist, and Mrs Ila Panda established IMFA in 1961 to initially produce silicon alloys and later diversified to chrome alloys. Starting with one furnace in a remote corner of Odisha, today IMFA is recognised globally as a quality conscious producer and reliable partner. More than 6500 families rely on the Company to earn a livelihood, and social responsibility is a core value with various charitable activities & sustainable initiatives taken up through the Bansidhar & Ila Panda Foundation and Indian Metals Public Charitable Trust.

The Company has declared exceptional results in the first half of FY22 and, at a meeting held today, the Board approved a 1:1 bonus issue to reward shareholders on this special occasion. The Board also reviewed the plan to expand ferro chrome capacity by 100,000 tonnes per annum. The project, which has already received approval from the State Government, will come up in Kalinga Nagar, Jajpur District at a cost of Rs 550 crores and provide direct employment to 400 people; land allocation is expected shortly.

Commenting on the occasion Mr Subhrakant Panda, Managing Director said: “Today is a momentous occasion and I would like to first pay tribute to our Founders Dr Bansidhar Panda and Mrs Ila Panda. I am also grateful to every member of the IMFA family, past & present, without whose dedication and contribution we would not have been able to reach this milestone. I also express my gratitude to all stakeholders for their support, especially the State Government for backing our expansion plan. India’s economic growth on the back of the Central Government’s progressive policies will create sustainable demand for ferro chrome; we remain committed to adding value, rewarding shareholders and giving back to society.”

Business

Magenta signs MoU with the Government of Tamil Nadu to invest over Rs. 250 crores to set up an EV manufacturing plant

Nov 25, 2021 by Rekha Nair 0 Comments #and CEO, #Magenta, #Managing Director, #Maxson Lewis

Magenta, a leading Indian Charge Point Operator (CPO) company, signed a Memorandum of Understanding (MoU) with the State Government of Tamil Nadu to invest in building the EV charging infrastructure in the state. Maxson Lewis, CEO and MD, Magenta, signed the MoU in the presence of the Honourable Chief Minister of Tamil Nadu, Thiru. M.K. Stalin at the Tamil Nadu Investment Conclave 2021 held in Coimbatore.

Under this agreement, Magenta will invest close to Rs. 250 crores & set up a manufacturing unit focused on the design, product development and architecture standards for EV technologies in the e-mobility space. The investment will be mainly for the R&D, manufacturing all cutting-edge technologies and a broader set of choices in the e-mobility segment. The move emphasizes Magenta’s commitment to electrification and development for EV solutions.

With the new manufacturing plant plans in TN, Magenta will provide job opportunities to local communities within the region and create around 500 jobs in the next two years in Tamil Nadu. Furthermore, over 1600 employees will be trained in EV charger manufacturing, assembly, installation and operations over the next five years. The facility aims to create a robust supply-chain ecosystem in and around the region & make Tamil Nadu EV ready.

Maxson Lewis, Managing Director, and CEO, Magenta, said, “We are glad to join hands with the Government of Tamil Nadu in strengthening their vision for building a robust EV ecosystem for India. Skilled workforce, Strong infrastructure, coupled with a government having a progressive and investor-friendly approach, makes the state poised to become the next EV hub in the county.”

Magenta has many firsts to its credit, including the solar-based EV Charging Stations, India’s first EV Charging Corridor for Mumbai – Pune Expressway, and ChargeGrid App, an integrated and automated network of all charging stations on Mobile.

Seed funded by HPCL in 2018 & incubated by Shell in 2019, Magenta is also backed by the Microsoft Startup Program further to strengthen its advanced technology platform for Electric Mobility. In 2020, Magenta had raised pre-series funding from JAN (JITO Angel Network) and LetsVenture. In May 2021, Magenta announced that it had closed its Series A funding by renowned Indian American philanthropist, billionaire, and serial entrepreneur, Dr. Kiran Patel.

Magenta was amongst the 59 companies that signed MOUs with the Tamil Nadu Government in the Investors Conclave organized by the Industries Department in Coimbatore.

Business

Runwal Group unveils a new tower – Park View at Runwal Avenue in Kanjurmarg

Nov 24, 2021 by Rekha Nair 0 Comments #Managing Director, #Mr. Subodh Runwal, #Runwal Group

Mumbai: Runwal Group, one of India’s leading real estate developers, announced the launch of an upcoming residential tower- Park View, in their project Runwal Avenue located at Kanjurmarg East in Mumbai. Part of a larger overall development, the project is spread across approx 5.5 acres of land. The tower will consist of 47 floors with 290+ habitable units. It will comprise of efficiently planned 1, 2 and 3 bed residences with carpet areas approximately ranging between 401 sq. ft and 804 sq. ft. The unique feature of this tower is that it will offer private decks in multiple configurations, a luxury in Mumbai. Even a 1BHK home will offer a private deck, which is rarely available. Starting at approx Rs. 1.05 cr., apartments at Park View will provide panoramic views of the surroundings in addition to fresh air and an elevated lifestyle.

Situated at the arterial location of Kanjurmarg, Runwal Avenue brings every significant landmark closer to you. From the strategically important business districts like SEEPZ & BKC to the International Airport, every key hub of the city is easily accessible. Kanjurmarg enjoys fantastic road, rail and upcoming Metro connectivity which will further boost the residential living experience in the area.

Speaking on the occasion, Mr. Subodh Runwal, Managing Director, Runwal Group said, “We are delighted to announce the launch of the new tower, Park View at Runwal Avenue. We are constantly trying to add elements which will delight our consumers. Addition of private decks is a part of this endeavour. We wanted to provide an enhanced lifestyle, at a reasonable value in the heart of the city. The success of previous towers at Runwal Avenue has been outstanding and we are certain this new product category will generate good demand.”

Runwal Avenue located at Kanjurmarg, is a perfect blend of connectivity, convenience and lifestyle. The project will feature thoughtfully designed facilities such as a health clinic within the premises by a leading healthcare institution. Runwal Avenue will also have a Wi-Fi-enabled business centre space to allow residents to manage their work from home lifestyle. It will also feature ‘Fifth Avenue’ – an integrated high street galleria. The upmarket retail galleria will feature branded stores, restaurants, cafes, salons, and much more.

Residents of Runwal Avenue can pamper themselves with a wide range of amenities such as swimming pools, green open spaces, indoor games, badminton, state-of-the-art gym, yoga, play areas etc. A beautiful public garden of approx 5 acres, situated just a 5-minute walk away will bring the joys of nature and green spaces closer.

Kanjurmarg has grown rapidly and has become a much sought-after destination amongst home buyers. It is a well-developed location with a cosmopolitan population. It has excellent social and civic infrastructure and is in close proximity to top-notch educational institutes, business hubs, healthcare facilities, hotels, shopping destinations and great natural surroundings. Situated just 10 minutes from Powai, it offers all Powai’s advantages at a far more attractive price.

Business World

Habitat for Humanity India hosts the 8th edition of India Housing Forum aimed at inclusive growth through housing to empower vulnerable communities

Nov 20, 2021 by Rekha Nair 0 Comments #Dr Rajan Samuel, #Habitat for Humanity, #India, #Managing Director

Mumbai: Safe and affordable housing is critical to breaking barriers to a better, healthier and more financially stable lives. To stress on addressing the underlying housing deficit and proposing recommendations for facilitating inclusive growth through innovative housing solutions, Habitat for Humanity India is organising the 8th edition of India Housing Forum on 23rd and 24th November 2021.

Themed around ‘Reshaping Inclusive Growth Through Housing’ the two-day virtual conference will focus on building collaborations to impact affordable housing sector in India and contribute to the Government of India’s vision of ‘Housing for All’. It also aims to recognize and act on the importance of housing as a driver of inclusion, resilience and sustainability in human settlements, and promote leaders and sector players in innovative and high impact housing initiatives through the sharing of best practices.

Some of the main speakers of the India Housing Forum include Shri. Durga Shanker Mishra, Secretary, Ministry of Housing and Urban Affairs, Dr. Shailesh Agrawal, Executive Director, Building Materials and Technology Promotion Council and Dr. Rajan Samuel, Managing Director of Habitat for Humanity India.

“Since its inception, the India Housing Forum has facilitated multi-stakeholder dialogues and partnerships on a common platform to address the challenges of affordable housing. This year the focus is on how affordable and sustainable housing solutions can bring an inclusive future for vulnerable and low-income families through greener, safer, and more resilient approaches. Housing has the potential to create economic growth and recovery especially in a post pandemic world. Our goal is to continue to make a significant contribution to honourable Prime Minister Narendra Modi’s Housing for All vision to address India’s housing deficit,” said Dr Rajan Samuel, Managing Director, Habitat for Humanity India.

The health and economic impacts of the ongoing pandemic has exacerbated the housing crisis and made clear how crucial having safe, secure, and adequate housing is to one’s health, wellbeing, and even survival. India Housing Forum brings together industry leaders, innovators, policy experts, and various stakeholders to inspire a new vision for more inclusive, healthy, and resilient communities through sessions on topics such as Pradhan Mantri Awas Yojna, health and housing, role of housing in mitigating the impact of climate change, innovative housing technology, financing affordable housing and the role of CSR (corporate social responsibility) in creating a socio-economic revival post the pandemic.

The role of housing and the construction sector is pivotal for the fast-paced recovery of India’s economy. Better housing conditions improve the coping mechanism of marginalised populations in dealing with socioeconomic shocks and reduce inequalities among them. The importance of housing as a driver of economic growth and sustainability will be one of the central discussions during the Forum.

The India Housing Forum which has been attended by over 1200 participants since its inaugural edition in 2015 is supported by ESAF Small Finance Bank and Habitat for Humanity’s Terwilliger Center for Innovation in Shelter.

The forum will adopt a virtual format due to the COVID-19 pandemic. Register on housingforumindia.org and find out more about the forum.

Business

Air Products Expands its Presence in India with an Office in New Delhi

Nov 17, 2021 by Rekha Nair 0 Comments #Air Products, #Air Products India, #Anand Chordia, #Chief Operating Officer, #Dr. Samir J. Serhan, #Managing Director

NATIONAL– Air Products, a world leader in industrial gases, today announced the opening of an office in New Delhi, India. The Delhi office will be the hub for the company’s Business Development and Stakeholder Engagement activities. This expansion follows the opening of a new EPC (Engineering, Procurement and Construction) center in Vadodara, Gujarat which began operations just over a year ago during the pandemic.

Dr. Samir J. Serhan, Chief Operating Officer, Air Products said: “India is a growth region for Air Products and plays a strategic role in the Company’s journey. We are very proud to invest in India and want to continue to grow our presence and develop strong relationships in the region; aligned with our goal to be the safest and most innovative industrial gas company in the world.”

Anand Chordia, Managing Director, Air Products India, said:” We are delighted to expand our footprint in India as we continue to grow in the region. A year back we opened our second EPC center in India and hired close to 400 highly skilled employees and we continue to hire in both Gujarat and Maharashtra. Since 2019, we have almost tripled our work force in India. Our EPC centers are focused on providing technology, engineering and project execution, for Air Products’ activities in India, the Middle East, Europe and the Americas. Being centrally based in the capital city of New Delhi will aid our Business Development and Stakeholder Engagement efforts as the Company focusses on several investment opportunities in India on BOO (build, own, operate) model in the Gasification, Green Hydrogen and Hydrogen for Mobility (H2fM) space.”

With the opening of the New Delhi office, Air Products is now present in four states of India as it operates an EPC center and IT center in Pune, Maharashtra, an EPC center in Vadodara, Gujarat and a World scale, Industrial Gas Complex at BPCL Kochi Refinery in Kochi, Kerala.

Business

SAYA Homes Unveiled the Ultimate Shopping Destination ‘SAYA PIAZZA’

Nov 15, 2021 by Rekha Nair 0 Comments #Managing Director, #Mr. Vikas Bhasin, #SAYA Homes

Noida: The SAYA Homes, a leading real estate developer of NOIDA NCR has announced an ultimate premium shopping destination, SAYA PIAZZA in sector 131 Noida. Today on Sunday, Bhoomi Poojan has been performed at the site and project details have been revealed. At launch, the company has received a huge number of enquiries from the buyers who had shown their willingness in buying the project.

Adding another feather to the Noida commercial destinations, the SAYA Homes has incorporated all premium amenities to SAYA PIAZZA. The Highstreet project is architected by the country’s leading Brij Architects and is spread over 1.72 acres in Noida sector 131 on Noida Expressway. PIAZZA will have total 300 shops with total constructed area of around two lakh square feet. As per the plan, the lower ground floor will have hyper-market, ground & first floor will have retail shops, second floor will cater entertainment section and the third floor will have dining and food court.

The SAYA PIAZZA will herald in a new age in retail therapy and entertainment, since it will serve 50,0s00 families in a catchment area that is estimated to attract more than 2 lakh visitors. The location enjoys one of the best commutation connectivity catering to the residents of NOIDA, GNOIDA and Delhi.

Speaking on this auspicious occasion, Mr Vikas Bhasin, Managing Director, SAYA Homes, said, “At SAYA Homes, we believe in setting up high customer expectations and so today have introduced SAYA PIAZZA at one of the best locations in Noida. Considering the design, amenities and connectivity we are receiving overwhelming response from the buyers. The sectors like 129 and 131 are of high potential locations for real estate projects and I am sure that SAYA PIAZZA will stand out as the new high street commercial destination in Delhi NCR.”

The Saya Group, well-known for quality-construction and timely-delivery, is providing excellent facilities offering retail shops, exquisite interiors with multiple restaurants, bars and another leisure destinations. The premium top brands will be present to meet the expanding needs of the potential customers, as well as the elaborated food-courts, acclaimed restaurants and food chains, lifestyle retail, anchor retail space and entertainment at very competitive and affordable prices.

It will provide investors with commercial space with exclusive units for outright sale and lease assistance. It will also have modern amenities such as gym, fire alarm, CCTV, 24 x 7 security, Power back, 24 hour water supply and a clubhouse. The marquee retail establishments with imposing high-ceiling up to 25 feet, as well as a hefty dose of food courts, cafes, and showrooms, will garner extra attention due to its proximity to the Noida Expressway.

Business

Mallcom India Eyes Boost in Value and Quality for Export in Europe with First Shipment from Ahmedabad Facility

Oct 26, 2021 by Rekha Nair 0 Comments #Mallcom India Ltd, #Managing Director, #Mr. Ajay Kumar Mall

India: Mallcom Safety, a subsidiary of Mallcom India Ltd, India’s one of the largest manufacturers of Head-to-Toe Personal Protection Equipment, following the recent move of PM Mitra scheme by the Union Cabinet has announced their first major container shipment to Netherlands from their newly set up Ahmedabad facility.

Mallcom, the first PPE manufacturer in India with a complete PPE range protecting industrial workers from all kinds of physical occupational hazards, anticipates larger export order volumes – following the global trend of finding an alternative to Chinese manufacturers. The company serves as an original equipment manufacturer (OEM) vendor to the world with customers spread across Europe, USA, South America & Oceania – around 63% of its total exports is accounted for under the private label of Mallcom as well.

The Government of India is putting its effort to revive the manufacturing industry with satiable impact on production of global standard – schemes like PM MITRA (Pradhan Mantri Mega Integrated Textile Region and Apparel), PLI (Production Linked Incentive) are few initiatives towards this mission. Mallcom, which was a 100% exporting company till 2008, emphasizes on the need of positioning Indian production in the global market with substantial quality and standards and therefore the company is going to cater to the European market with products from its Ahmedabad facility. Considering large demand of Firefighting suits, normal work wear suits and chemical resistant suits in the markets of Europe, Mallcom will be focused to keep these products at its highest selling point. The company recently brought on stream a facility in Ahmedabad in Gujarat.

Speaking on the development, Mr. Ajay Kumar Mall, Managing Director, Mallcom India Ltd. said, “The world does not want India to merely produce but also envisions it to be a global market. As we earn 65% of our total 68% overseas revenue from Europe, it is a very significant market for us. Union Cabinet’s approval on PM MITRA scheme will help the entire textile industry to become globally competitive, attract large investments, boost employment generation and exports. We at Mallcom are consistent in our strive to provide quality products with implementation of innovation and technology and we are optimistic that our products will perfectly serve to the safety concern of our export markets.”

Mallcom India Ltd has total 12 manufacturing units in India spread across Kolkata, Haridwar and Ahmedabad. The company eyes to build a safer nation with providing access to both industrial safety gear such as gloves, helmet, suits, shoes as well as medical gear like masks and disposable protective covers in and abroad.

Business

The Wadhwa Group brings WOW lifestyle to Wadhwa Wise City at Panvel

Oct 18, 2021 by Rekha Nair 0 Comments #Managing Director, #Mr. Navin Makhija, #The Wadhwa Group

Mumbai: The Wadhwa Group, one of India’s leading real estate development companies and a prominent realty player in Mumbai, has launched two new towers in Phase I of their project Wadhwa Wise City at Panvel. Wadhwa Wise City in Panvel spread across 138 acres and part of a 450-acre land parcel to be developed by The Wadhwa Group is a vision of sustainable growth and holds the distinction of being the first-ever integrated township project in NAINA (Navi Mumbai Airport Influence Notified Area). The two new towers will comprise of spacious 1 and 2 bed balcony residences with carpet areas starting from approx. 385 sq. ft. to 535 sq. ft. Panvel is set to be the next big growth corridor with rapid infrastructure development along with upcoming business and transport hubs in close proximity.

Speaking about the launch, Mr. Navin Makhija, Managing Director, The Wadhwa Group says, “With continuous demand from first time buyers and a growing need to have a second or independent house, we are delighted to announce the launch of few new towers and bungalow scheme at Wadhwa Wise City, Panvel which has been designed keeping the buyer’s overall wellness and all the lifestyle needs in mind. Panvel is nestled in the lap of the Western Ghats, surrounded by picturesque mountains and vast greens, and yet connected to the modern world through a network of modern highways, suburban railway and international airport. The township is strategically located close to several infrastructure developments and with the government’s strong focus on developing Panvel, this region is slated to be the next economic growth corridor. We are confident that this integrated township will be the next astonishing landmark in Panvel. The Wadhwa Group will continue to delight its customers through developments that are a blend of superlative design, quality construction and luxurious living.”

The integrated township include 23 towers in single cluster that are planned in multiple phases and will also comprise of IT parks, Father Agnel School, healthcare facilities, clubhouse, retail and shopping etc. This mega residential township once completed will not just be a row of concrete structures, but an impeccable mix of green & grey to render a mega lifestyle for a healthier & holistic living. Spread across a vast verdant tract, this sprawling project will offer community living at its best via its meticulously planned spaces. The project will offer ample natural beauty, vast open spaces, multitude of premium lifestyle amenities, educational and recreational facilities, all built within the township. The overall wellness is also at the top of the priority list where homes will have optimum ceiling height, ample natural light and superior ventilation. Even common spaces are designed following the sun’s path and the wind’s direction, keeping the residents vibrant with natural energy, fresh air and sunlight throughout the year. The existing Mohape railway station on the Panvel-Karjat suburban line is passing through the project and is within 5-10 minutes of walking distance from the phase 1 development.

The state-of-the-art amenities are thoughtfully planned that provide a quintessential lifestyle to its residents. Residents of all age groups can pamper themselves with a wide range of amenities such as Rock climbing, Jogging track, Gymnasium, Multipurpose hall, Squash court, Yoga lawn, Kids play area, Amphitheatre, Swimming pool, Indoor Badminton court, Senior citizens areas, party lawn, café, Indoor games room, Open gymnasium, Central greens, Nature trail, Basketball court, Volleyball court and many more.

Panvel is the hub for infrastructure growth and development. In recent times there has been a strong focus on Panvel as the new centre of development with tremendous Government impetus, initiatives and investment. Besides high infrastructure growth, the superior air quality and microclimate, dedicated open spaces, abundance of nature and excellent connectivity make Panvel truly the destination of the future.

Panvel already offers excellent railroad connectivity to the main city—Mumbai has proven to be the most sought-after region for mixed use townships. It is connected to both the central and western lines, it is also known as the gateway to the Konkan region, easing the commute to the other states of India. Located close to Mumbai-Pune Expressway and the Sion-Panvel Expressway, travelling to either Mumbai or Pune is quite convenient. Planned development and Infrastructure has been a major differentiator for the region compared to the other parts of the city. The commencement of the work of the infrastructure developments like the Navi Mumbai International Airport and the Mumbai Trans-Harbour Link are the factors that are driving the demand for residential and commercial real estate in this new growth corridor. In recent times, the NAINA region has emerged as the hub of affordable housing due to comparatively lower prices, good road and railway connectivity and growing infrastructure.

Supporting the economic upliftment of the region, Wadhwa Wise City is expected to become a viable option for the homebuyers.

Technology

Puravankara accelerates its Digital Transformation journey with IBM and SAP

Oct 9, 2021 by Rekha Nair 0 Comments #Ashish Puravankara, #Country Managing Partner – IBM Services, #India & South Asia, #Kamal Singhani, #Managing Director, #Puravankara Limited, #SAP Indian Subcontinent, #Subramanian Ananthapadmanabhan, #Vice President – Mid-Market

India, Bangalore: IBM announced that Puravankara Limited is collaborating with IBM Global Business Services (GBS) to fuel tech-led innovations in its operations by adopting RISE with SAP. Through this association, Puravankara will reinvent its processes for superior business outcomes. IBM will integrate the SAP Cloud environment with Puravankara’s cloud environment to harness the unmatched power of cloud and ensure seamless enterprise functions.

As a future-forward industry leader, Puravankara aims to employ an intelligent suite of solutions for operational agility and enhanced business efficiency while driving unprecedented growth. The company aspires to assess real-time fluctuations in the market and receive immediate and actionable insights across its project development through robust digitisation.

To help achieve these layered objectives, Puravankara partnered with IBM to deploy RISE with SAP, an integrated cloud ERP solution revolutionising their business transformation. IBM will also deploy Ariba Sourcing, a strategic sourcing solution by SAP, to automate and streamline critical tasks in sourcing indirect and direct materials. The IBM ASCEND methodology, the framework used to deliver transitioning projects for SAP S/4HANA, has been used to bring in more efficient delivery execution, higher quality, and lower implementation risks. Puravankara would redefine the core objective of its digital strategy and streamline existing processes to elevate customer experiences.

Ashish Puravankara, Managing Director, Puravankara Limited, said, “As a resilient business entity, Puravankara has always pioneered tectonic changes in the real estate industry. Over the last year, as operational challenges took a new form, our primary focus was to build an enterprise that leads the future of work and advances customer success. By collaborating with IBM to deploy SAP, we will modernise our business capabilities and solve on-ground bottlenecks with ease while setting precedence in this highly competitive industry.”

Kamal Singhani, Country Managing Partner – IBM Services, India/South Asia, said, “By leveraging our deep consulting expertise and access to technological innovations, Puravankara will be able to fast-track their digital transformation journey, create intelligent workflows to drive the efficiency and agility needed in their dynamic industry landscape.”

Subramanian Ananthapadmanabhan, Vice President – Mid-Market, SAP Indian Subcontinent, said, “With our RISE with the SAP solution, we accelerate our customers’ transition to the cloud and enable them to become future-ready organisations. By adopting RISE with SAP, Puravankara has taken another step towards serving its customers better with digital tools and technologies. SAP along with IBM is empowering Puravankara to lead the charter in the real estate segment by creating unique landmarks and community living of the highest standards for its customers.”

IBM will bring its assets, tools, and methodology, including best practices and processes from the real estate and infrastructure industry. This will enable Puravankara to have best-in-class processes configured in the SAP system and ascend its digital transformation value chain.

Business

Servotech Power Systems Ltd. Migrates from NSE Emerge to Main Board of NSE

Oct 8, 2021 by Rekha Nair 0 Comments #Managing Director, #Raman Bhatia, #Servotech Power Systems Ltd

New Delhi: Renewable Energy Player and a leading manufacturer of Inverter, Batteries and LED Lights, Servotech Power Systems Ltd. has announced that the company has migrated from the NSE Emerge platform to the Main Board of NSE. Raman Bhatia, Managing Director, Servotech Power Systems Ltd. said, that the Company has received approval from the National Stock Exchange of India Limited for the migration of 18310429 equity shares from the SME Emerge platform to the Capital Market Segment (Main Board) of National Stock Exchange of India Limited.

Commenting on the key announcement, Raman Bhatia, Managing Director, Servotech Power Systems Ltd. said, Servotech recorded a stable year of performance in financial year 20-21. Also, it is with great pride and honor that Servotech Power Systems has touched one of its Benchmarks and has migrated from the SME to Main Board of National Stock Exchange of India Limited.

Raman Bhatia further added, during the pandemic situation, Servotech committed itself to contribute for the betterment of the world we live in by launching a series of various UV Disinfectant Products and also introduced “Oxygen Concentrators” to serve the affected people, needless to mention the huge role of the Oxygen Concentrators in saving lives.

With the growing pandemic and stress of the 3rd wave of Covid-19 in India, Servotech partnered with the prestigious organizations being the Indian Institute of Technology Jammu (“IITJmu”), Indian Institute of Science Education and Research, Bhopal “(IISERB”) and Vikram Sarabhai Space Centre, ISRO and agreed on a programme to evolve the complete technical specification for Oxygen Concentrator and associated testing to indigenize the manufacturing of Oxygen Concentrator within India. These projects are a great stepping stone to promote the “Vocal for Local” drive and to provide necessary products to deal with the pandemic scenario.

Servotech Power Systems is engaged in Renewable Energy and a leading manufacturer of Inverter, Batteries, LED Lights, Solar Products, Oxygen Concentrator and UVC Germicidal Products with a proud legacy of 17 years and trust of a lifetime.