Archives 2023

HCLTech launches services offering to help deliver AI-powered experiences to Microsoft 365 users

NEW YORK, US and NOIDA, India,1st December 2023:HCLTech, a leading global technology company, announces the launch of a services offering that harnesses the power of generative AI to enable enterprises to deploy Microsoft 365 Copilot to enhance work efficiency and output.

Microsoft 365 Copilot, powered by generative AI, seamlessly integrates large language models with Microsoft Graph and popular Microsoft applications like Word, Excel, PowerPoint, Outlook, Teams and more to provide users with real-time intelligent assistance that enhances creativity, productivity and skills.

HCLTech will help Microsoft 365 Copilot customers with a range of services including consulting, customization, change management and support while implementing it in phases across the organization with minimum disruption to business.

“This new offering will help our clients accelerate their Microsoft 365 Copilot journey and unlock the benefits of AI-powered insights for their employees,’’ said Rakshit Ghura, Senior Vice President and Head of Digital Workplace Business at HCLTech. “With our deep expertise in Microsoft technologies and our holistic approach to workplace transformation, we are well-positioned to help enterprises leverage Microsoft 365 Copilot for enhanced workplace efficiencies, experiences and outcomes.”

HCLTech has a strong record of delivering intelligent workplace solutions to enterprises, leveraging its proprietary HCLTech Fluid Workplace framework. The company is a Microsoft Gold Partner with over 55,000 Microsoft-certified professionals, delivering innovative solutions and services to clients globally.

HCLTech offers a unique set of end-to-end AI capabilities, from chip development to business process optimization. Leveraging strategic partnerships with Microsoft and many others, HCLTech is paving the way for the adoption of generative AI across industries.

For more information about HCLTech’s new offering for Microsoft 365 Copilot, please visit: https://www.HCLtech.com/microsoft-business-unit/m365-copilot-services

Mamaearth Gets Winter Ready With Shilpa Shetty Kundra and Ahsaas Channa With Their New TVC

Mamaearth

Gurugram, 1st December 2023:- Mamaearth, from the house of Honasa Consumer Limited the largest digital-first BPC company in India launched its latest integrated marketing campaign for winter featuring renowned actor and Brand Ambassador, Shilpa Shetty Kundra, alongside the talented actress Ahsaas Channa, who has signed a year-long contract with the brand to represent its face category campaigns.

With winters just around the corner, the campaign showcases the ideal solution for dry and dull skin during winter months with Mamaearth’s Vitamin C Oil-Free Moisturizer. The film opens with Shilpa enjoying the winter air and welcoming the season. On the contrary, her friend, played by Ahsaas, is not excited about the winters due to the dry, dull skin and expresses her dislike for winter’s effects. Shilpa, with an amusing dramatic flair, interrupts her and suggests using a moisturizer. Ahsaas responds mocking her drama that moisturizers during winters make the skin dull. Shilpa playfully interrupts, handing her Mamaearth’s Vitamin C Oil-Free Moisturizer, which provides both hydration and a natural glow without making the skin dull. The following scene transports us to a picnic setup where Ahsaas arrives with radiant skin, with Shilpa dramatically exclaiming appreciating her radiance and glow after using Mamaearth’s Oil-Free Moisturizer. They both highlight the moisturizer’s dual benefits, concluding with a warm welcome to winter. The film’s simplicity serves as a compelling representation of the brand’s philosophy and product proposition centered on inner goodness.

Regarding the campaign, Ghazal Alagh, Co-Founder and CIO at Mamaearth, said, “At Mamaearth, our unwavring commitment has always been to provide effective solutions to our cherished consumers. As we approach the winter season, the challenge of dry and dull skin is a common concern we empathize with and we’re excited to offer an ideal solution that not only nourishes but also rejuvenates the skin naturally. This proposition is at the heart of our new campaign, and we are confident that it will resonate with millennials who are seeking nature’s goodness in their skincare routine.”

Comments by Anupama Ramaswamy, Chief Creative Officer, Havas Worldwide India Pvt limited said, “The winter dilemma of choosing between moisturized or glowing skin can be a tough decision, one that often leaves us feeling concerned about our skin’s well-being and strips the joy from the winter season, making it hard to fully enjoy its magic. To depict this timeless struggle, we weaved a heartwarming narrative between two friends, one seasoned and the other still exploring, unraveling the quest for the perfect skincare solution.”

The 35 sec film is conceptualized by Havas Worldwide India Pvt Limited.

News18 Bangla Dashobhuja celebrates the strength and grit of women in West Bengal

Dashobhuja

1st December 2023: News18 Bangla celebrated the inaugural edition of Dashobhuja on November 24, 2023, at The Oberoi Grand, Kolkata. Dashobhuja is a revolutionary initiative launched by News18 Bangla that highlights the inspiring stories of women who have overcome adversity to make significant contributions to society.

In its first edition, Dashobhuja showcased the real-life stories of 10 extraordinary women from various parts of West Bengal, recognizing and honoring their achievements. The event was attended by a distinguished gathering, including Chandrima Bhattacharya, Minister of State for Health and Family Welfare; Birbaha Hansda, Minister of State for Forests and Self Help – Self Employment Group; and Dr. Shashi Panja, Minister In Charge of Women and Child Development and Social Welfare, all from the Government of West Bengal.

Eminent personalities from the entertainment industry, such as Bengali cinema actress Paoli Dam, and renowned singer Lopamudra Mitra, added glitz to the event. The guest list also included Koneenica Banerjee, Indrani Dutta, Raajnandini Paul, Oindrila Sen, Mr. Sanjib Kr. Patwari, Director of Rashmi Group, and Shree Gopal Shroff, Marketing Director of Doctor’s Choice, Mr. Abdul Sadek Sarkar, Managing Director, Zintol Herbal, Sardar Simarpreet Singh, Director, JIS Group among others.

The event was co-presented by JIS Group and Rashmi Group, and it was co-powered by Dear Lottery, Sunrise, and Reliance Industries Ltd. B N Ganty, Bimal Saree Center, International Institute of Hotel Management, Wild Stone, Zintol Herbal, Supreme Knowledge Foundation Group, and Doctors Choice were among the special partners. Samata Cooperative Development Bank and Super Power Detergent Powder were the associate sponsors.

Dashobhuja exemplifies News18 Bangla’s dedication to recognizing and promoting women’s tenacity and accomplishments, fostering inspiration and empowerment in society.

Techno India Group Inaugurates The 3rd Edition Of Techno Olympica Knights

Techno India

Kolkata, 1st December 2023: Techno India Group, the largest private education group in Eastern India, inaugurated the third edition of the inter-school sports competition – Techno Olympica Knights. This mega sporting event will have over 1000 students participating from 70 schools across West Bengal. This 6-day event will conclude on 4th December, 2023. The inaugural ceremony was graced by Ms. Piyali Basak, Indian Mountaineer, Shri Satyarup Siddhant, Indian Mountaineer, Shri Premjit Sen, Referee & judge, World Karate Federation & Asian Karate Federation &Prof Manoshi Roychowdhury Co-Chairperson, Techno India Group.

The event started with a lamp lighting ceremony by the esteemed guests followed by Techno Olympica Knights Torch lighting on the campus ground, to mark the commencement of the event.

Techno India Group aims at giving equal emphasis in the development of BODY, MIND & SPIRIT of the students to fulfil the objective of “Touching lives, making a difference”. There are awards for the top 3 schools in terms of medal tally with Trophies & Cash Prizes. The three Mega Trophies are worth Rs 50000/-, Rs 30000/- and Rs 20000/- respectively. Also, there will be prizes for Best Performers, The Best Cheering School and Fair Play. A Special Cash Prize of Rs 5000/- along with a Trophy will be given to the school with best average point at medal tally (minimum 5 games attempted). Apart from these, individual medals and certificates will also be given. This year, Techno Olympica Knights has two new additions to the prize categories where they would be providing Full Scholarship and assistance in undergraduate or Post Graduate Programmes in Techno India University, West Bengal or Selected Techno India Group Institutions as per norms for the Best Performer Boy & Best Performer Girl.

“Techno Olympica Knights is not just a inter school sporting event; it is a celebration of talent, sportsmanship and the indomitable spirit of our youth. I am looking forward to witness the convergence of passion and skill from students across West Bengal. This event is a testament to our commitment to fostering holistic development through sports, and I am confident that Techno Olympica Knights will be a platform where dreams take flight and champions are born”, said Prof Manoshi Roychowdhury, Co-Chairperson, Techno India Group.

The competition will feature sports like 5-a-Side Football, Volley Ball, Hockey, Table tennis, Badminton, Long Jump, Discuss throw, Individual Race/Relay Race, Free Style Swimming, Archery & Chess will be held in the following categories – Boys, Girls, Junior & Senior sections. The event is being held across multiple locations including Techno India, Salt Lake Main Campus, Spuddy Badminton Academy, Sports Authority of India (SAI) Complex and Subhas Sarovar.

Prama Showcases Latest Smart City Solutions at Municipalika 2023 in Bengaluru

Prama Showcases Latest Smart City

Bengaluru 30th November 2023: Prama India participated in the 17th edition of Municipalika 2023 event at the Palace Grounds in Bengaluru from 28-30 November to showcase the latest Smart City solutions. Municipalika 2023 is India’s oldest and largest trade show and conference on safe, smart and sustainable cities. The Prama India got an overwhelming response from the housing and urban infrastructure development, and built environment sectors in India. The event was inaugurated by Shri Siddharamaiyah, Honourable Chief Minister of Karnataka along with Shri D. K. Shivakumar, Hon’ble Deputy Chief Minister, Government of Karnataka, Shri B.S. Suresha, Hon’ble Minister for Urban Development and Town Planning (including KUWSDB and KUIDFC), Bangalore City Development, Shri Rahim Khan, Hon’ble Minister for Municipal Administration, Haj. The inaugural event was attended by the dignitaries from the housing and urban infrastructure development, and built environment sectors from Karnataka, and from all over India.

Commenting on being part of the Municipalika Expo, Mr. Ashish P. Dhakan, MD & CEO, Prama Hikvision India Pvt. Ltd. said, “India’s future cities are planned and implemented by the Smart City Mission, this is a big opportunity to redefine India’s Smart Cities with innovative security solutions. Municipalika has provided a convergence platform to premiere the cutting-edge technologies and innovations. Prama India has showcased the latest technologies, products and solutions to enable today’s Smart Cities. We reaffirm our commitment to provide best-in-class solutions for the Smart Cities.”

A lavishly designed Prama India booth at Municipalika 2023, showcased the wide range of latest products and solutions including Smart City Solutions, AI Sense Technology, Prama VMS, Road Safety Solutions (Smart Pole), Intelligent Building Solutions, In Vehicle Surveillance, Mobile Enforcement Solutions and Ranginview, etc.

In the Smart Cities Conference, Himanshu Jain, Assistant Vice President-Projects, Prama India Pvt. Ltd., presented Smart City Solutions with intricate details during the panel discussion. He spoke on the Smart Security Solutions, which can add value to the security management aspects of Smart cities.

Prama India representative Vinay Mishra, Senior Vice President-Projects, Prama India Pvt. Ltd., gave a corporate presentation on Prama India’s latest products for city resilience and surveillance. In the concurrent panel discussion Rajesh Palkar, Vice President, Government Consultant Business, Prama India Pvt. Ltd. shared his insights on City Resilience and Surveillance.

The event was be attended by 200+ exhibitors, 2,500 delegates and 5,000 industry visitors from all over India and abroad, from 10 countries, 20 states/UTs, and 300 cities and towns, ensuring an assured audience of policy makers, city leaders and urban and housing stakeholders looking for technologies and solutions. The event was organised with the patronage of Government of Karnataka as Host State.

The Municipalika 2023 provided a mega-networking forum for governments, experts, entrepreneurs and service providers to collectively find solutions to urban challenges. The Municipalika Exhibition & Conference in Bengaluru concluded successfully with thought provoking conferences and networking sessions.

Genpact Unveils Industry-First Operating Playbook for Scaling Responsible Generative AI Projects

NEW DELHI, 30th November 2023: – Genpact (NYSE: G), a global professional services firm focused on delivering outcomes that transform businesses, has unveiled an industry-first playbook: FMOps – The Generative AI Imperative for Production. The playbook, which focuses on Foundation Model Operations (FMOps), provides practical guidelines for building solid and efficient foundations for generative AI solutions.

“As Generative AI reshapes enterprises across sectors, we continue to find that clients need clear directions for building ethical and scalable generative AI solutions,” said Sreekanth Menon, Global AI/ML Services Leader, Genpact. “This playbook offers that blueprint, guiding the transition from pilot generative AI projects to production.”

Developed in collaboration with Nasscom, a non-profit industry association and the apex body for India’s $245 billion technology industry, the playbook delves into the fundamentals of FMOps. It meticulously outlines their operational benefits within AI systems: improved collaboration, faster release cycles, enhanced efficiency, rapid model deployment, seamless scalability, and risk reduction. The playbook also provides detailed discussions on FMOps, Large Language Model Operations (LLMOps) and Machine Learning Operations (MLOps), including:

  • Understanding the distinctions ofgenerativeAI from traditional AI
  • Recognizing the significance and importance of FMOps
  • The role of LLMOps within FMOps andgenerativeAI
  • Key differences between MLOps and LLMOps

The playbook takes an in-depth look at LLMOps, which serve as the foundation for operational capabilities and infrastructure required to deploy generative AI solutions, and the steps necessary for successful implementation:

  • Identifying the right model, technique, team, and technology stack
  • Understanding the current LLMOps landscape
  • Creating aResponsible, Accountable, Consulted, and Informed (RACI) framework for LLMOps implementation
  • Operationalizing Large Language Models (LLMs) with LLMOps
  • Selecting appropriate metrics
  • Setting up policy management guardrails

The collaborative effort between Genpact and Nasscom builds upon previous work on MLOps best practices, a set of principles that help technology teams develop, deploy, monitor, and scale AI models effectively.

AISATS Wins ‘Best Station Award’ at GHI Pride of Ground Handling Awards

AISATS

Delhi,30th November 2023: : Air India SATS Airport Services Private Limited (AISATS), a leading airport services management company in India, has been recognized with the distinguished ‘Best Station Award’ at the GHI Pride of Ground Handling Awards for its exceptional ground handling services at Indira Gandhi International Airport (IGIA), Delhi. The awards ceremony was held on Nov 28, 2023, in Lisbon, Portugal during the 24th Annual GHI Conference. This esteemed accolade recognizes AISATS’ firm dedication to operational excellence, innovative practices and ensuring customer contentment on an international pedestal.

The GHI Pride of Ground Handling Awards hold high regard in the aviation sector for acknowledging exceptional performance and contributions to the ground handling domain. AISATS stood out prominently among robust competitors from across the globe, showcasing its unwavering commitment to delivering high quality ground handling services to airlines and passengers at IGIA.

“We take immense pride in receiving the ‘Best Station Award’ at the GHI Pride of Ground Handling Awards,” expressed Mr. Sanjay Gupta, CEO of AISATS. “This is a result of continuous commitment and hard work of our entire Delhi team who are dedicated to deliver exceptional service and bring innovation at all levels in the ground handling industry. As a company, AISATS is always poised to ensure a safe, efficient and speedy service. We feel honoured to be acknowledged at a global level and are committed to pursuing excellence across all facets of our operations.”

AISATS has a promising track record of providing quality ground handling services at IGIA, Delhi, consistently surpassing customer expectations and playing a pivotal role in ensuring seamless airport operations. The company has introduced a range of pioneering initiatives to boost efficiency and service quality, including the adoption of cutting-edge technology, such as AeroWash (India’s first and only robotic dry wash aircraft exterior cleaning service) and Ground Radar (a state-of-the-art solution that monitors and analyses ground service equipment and staff allocation in real time) to name a few.

This year AISATS was nominated under three categories at these global awards, which showcases its unparalleled service quality. The GHI Pride of Ground Handling Awards are held annually to recognize and celebrate the achievements of outstanding ground handling organizations worldwide. The awards are a benchmark for excellence in the industry, and AISATS’ success at this year’s event further solidifies its position as a global leader in ground handling services

Jeevansathi Surprises yet another couple with #StringsOfLovebyJS, Featuring Bollywood’s favourite Neeti Mohan

30th November, 2023 – Jeevansathi.com, India’s leading matrimony brand has unveiled the second edition of #StringsOfLovebyJS, with Neeti Mohan, Bollywood’s leading playback singer, popular for her songs like “Ishq wala love’ from Student of the Year; ‘Meri Jaan’ from Gangubai Kathiawadi. Adding a soulful twist to the narrative of modern love stories, Neeti recently orchestrated a delightful surprise for a Jeevansathi couple, Harshil and Chaitali, adding musical notes to their romantic rendezvous with her latest song ‘Shagnaa’.

The magical encounter was expertly arranged by Jeevansathi.com in cahoots with Harshil, to add an element of surprise and spontaneity to the evening. Chaitali was left utterly speechless by this genuine and heartfelt surprise, which made for a lifelong memory.

Himani Bahuguna, EVP & Head of Marketing, Jeevansathi.com said, “’Strings of Love’ is an ode to the myriad love stories that germinated on our platform. Neeti’s surprise performance perfectly complements the emotions that define our users’ journey toward finding their life partners. Jeevansathi.com takes pride in celebrating these heartwarming moments that make every union special.”

Neeti Mohan, expressing her excitement, said, “Love and music share a beautiful relationship. Participating in Jeevansathi’s #StringsOfLovebyJS campaign allowed me to witness a unique love story and add a musical touch to a special moment. Witnessing the love between them was truly heartening. My heartfelt wishes to Chaitali and her partner for a joyous life ahead.”

A sneak peek into this enchanting surprise will be showcased on Neeti Mohan’s Instagram and YouTube handles, providing a glimpse into the musical celebration of love. Jeevansathi.com continues to redefine the matrimony experience, placing a spotlight on the happy stories of the couples.

Innovation in Preschool Education: Unlocking the Potential of Young Minds

By Sonia Agarwal Bajaj, Educationist

 While the education industry is undergoing waves of innovation, the largest seismic wave of change is taking place in the early education space. A few decades ago, preschools were restricted to a place for them to socialise, learn nursery rhymes, learn their basic alphabets and shapes and participate in a few art activities. Today, preschools are far from this and some leading preschools in India are truly reimagining early education.

Intimate Faculty Ratios
One of the primary factors that has led change in this space is a more intimate learning environment. Most preschools offer a low children to faculty ratio, allowing faculty and children to engage in a more interactive and effective manner. Most preschools today now operate with a 1:10 or lower ratio now days.

Rise of STEAM (Science Technology Engineering Arts & Mathematics)
Contrary to the belief that STEAM subjects are very complex for young minds, new age educators believe that early introduction to STEAM helps foster curiosity, inquiry and problem solving skills.

Digital Integration
Digital exposure is arguably considered detrimental towards screen addiction and reduced focus in early years; however, digital integrations can also be used to enhance learning for the child if done so correctly and age appropriately. Many schools are integrating digital content and concepts to their curriculums to leverage concepts and educational content that is available to boost their learning. These programs must be done not exceeding 15-20 min in duration a day.

Multi-curriculum
Most leading preschools today opt for multiple support curriculums that fuel their core philosophy. These allow them to give the right learning environment and techniques to further interest and learning in areas such as music, sports, phonetics, early reading and theatre.

Real World Problem Solving
As preschools evolve to become more experiential, their core curriculums adapt real world life problems around them and help raise early awareness towards key global issues. Many preschools help build awareness and an action mindset by discussing these crises and discussing possible solutions and efforts one can take to facilitate water conservation, environment conservation, climate change, religious tolerance and peace.

Collaborative Learning with Global Peers
As preschools readily share their learnings and victories on their social and content creating platforms, educators around the world are able to collaborate and share knowledge. This is starting to allow educators to feel constantly inspired and facilitate a higher quality of learning.

Holistic Wellbeing and Mental Wellness
As the world grapples to deal with mental health issues, preschools have started investing time and energy towards helping children become more emotionally aware are practice simple forms of mindfulness and emotional regulation.

Modular & Flexible Learning Spaces
Understanding the importance of multi-intelligence and many preschools are now investing in spaces that easily transform to serve as learning areas for multiple domains. This requires preschool to invest in modular furniture pieces and formats.

Rise of Out of School Learning
Traditionally most learning at schools was cantered around classroom learning, but now increasingly schools, including preschools are focusing on outdoor learning, where children have the opportunity to learn with nature and in specialised learning areas.

Emphasis on Faculty Training
Contrary to before where preschool faculty members were part time, unspecialised individuals that enjoyed being around children. Contributors to the early education industry today require to undergo training and certification that allows them to offer a higher quality of learning.

Inclusive Parental Communication
In order to provide higher transparency to parents, the way parents and schools interact and share information has changed. Preschools now share learning goals with parents and photographs via digital photo sharing platforms on a daily or a weekly basis.

All of the above factors have strongly contributed towards helping preschools evolve and truly transform the way our children learn and grow!

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Aster to separate its India and GCC businesses to unlock value

Bengaluru (India) / Dubai (UAE) | 30th November 2023: Aster DM Healthcare (“Aster”), one of the largest and fastest-growing integrated healthcare providers in GCC and India, has today received board approvals from its subsidiary Affinity Holdings Private Limited (“Affinity”) and approval from its Board of Directors to separate the India and GCC businesses into two distinct and standalone entities. Under the separation plan, Affinity has entered into a definitive agreement with a consortium of investors led by Fajr Capital, a sovereign-owned private equity firm headquartered in the UAE, to invest in Aster’s GCC business. The Fajr Capital-led consortium also includes Emirates Investment Authority, Al Dhow Holding Company (the investment arm of AlSayer Group), Hana Investment Company (a subsidiary of Olayan Financing Company) and Wafra International Investment Company. The board of Affinity and its representatives who negotiated the transaction formed a positive view of the favourable valuation and other terms offered by the Fajr Capital-led consortium.

Aster DM Healthcare was established by Dr Azad Moopen in 1987 as a single clinic in Dubai, UAE. The company has since grown to become a leading integrated private healthcare provider, offering a full spectrum of primary, secondary, tertiary and quaternary healthcare services that cater to the diverse needs of its patients. In India, Aster has a substantial and growing network in 5 South Indian states through its 19 hospitals, 13 clinics, 226 pharmacies and 251 patient experience centres. Meanwhile, in the Gulf, Aster has developed a strong reputation and presence, with 15 hospitals, 118 clinics and 276 pharmacies across the UAE, Saudi Arabia, Qatar, Oman, Bahrain and Jordan.

Upon completion, the separation of the India and GCC businesses will establish two distinct regional healthcare champions that will benefit from the strategic and financial flexibility to focus on growing market demand and the priorities of patients. Both the India and GCC entities will be operated by separate dedicated management teams and will also benefit from a dedicated investor base that will aid future growth in the Indian and GCC markets respectively, both of which hold significant growth potential.

The GCC and India healthcare markets are distinct and have different growth dynamics, warranting different business strategies. With a population strength of 1.4 billion, India will remain a priority market in Aster DM Healthcare Ltd.’s growth journey. The company plans to ramp up bed capacity in India by almost one-thirds, by adding more than 1500 beds by FY27. In the GCC, Aster DM Healthcare FZC will bolster its expansion plans in key markets, such as the UAE and Saudi Arabia, while enabling greater access to quality and comprehensive healthcare across physical and digital channels.

Dr. Azad Moopen

Post completion, Dr. Azad Moopen will continue as the Founder & Chairman of Aster overseeing both India and GCC entities. Ms. Alisha Moopen will be promoted to Managing Director and Group CEO of the GCC business to lead a long-term strategy that will unlock value as a pure-play GCC operating company. The Indian entity will continue to be led by Dr. Nitish Shetty as Chief Executive Officer, who will focus on the growth of the India business, aimed at creating value for its shareholders.

EY and PwC provided independent valuation advice and ICICI Securities provided fairness opinion for the valuation guidance. Baker & McKenzie LLP was Affinity’s lawyers on the transaction. Cyril Amarchand Mangaldas was Aster’s lawyer on the transaction. AZB & Partners were the advisors to independent directors. Moelis & Company and Credit Suisse acted as the sell-side advisors. HSBC Bank Middle East Ltd., Allen & Overy LLP and PwC acted on behalf of the Fajr Capital consortium.

Dr. Azad Moopen, Founder and Chairman of Aster DM Healthcare said: “The strategic decision to segregate the India and GCC operations was based on the rationale to establish fair value for both entities, creating two pure-play geographically focused entities that are able to leverage the growth opportunities in their respective markets. In India, we as Promoters, remain committed to our growth plans and hence had increased our stake to 42% earlier this year. Major institutional shareholders continue to remain invested, reflecting overall confidence in the Company’s India business model and go-to-market strategy spanning all segments of the healthcare space.”

“For the GCC, Fajr Capital has been selected by the board of Affinity as our trusted private equity partner to lead a consortium of investors to invest in the GCC business. We are confident given their demonstrated expertise and are excited by their commitment to empowering our expansion plans within the GCC’s dynamic healthcare landscape, especially in Saudi Arabia. The Moopen family will retain 35% stake in the GCC Business. Together, we envision a future where Aster’s business in the GCC continues to deliver best-in-class healthcare services to its patients across the region, underpinned by Fajr Capital’s strong market presence and network. Alisha will lead on these ambitions and oversee the next phase of our growth trajectory in the GCC.”

The separation will also offer Aster India an opportunity to potentially expand its institutional investor base to include investors who are mandated to invest in India only or majority businesses. Shareholders of the India business will benefit from better reporting of operating and financial parameters for the listed entity.

The transaction is subject to shareholder approval in India, regulatory compliances and other customary conditions to closing. The Company expects the transaction to close by March 2024.