Category business

Chennai, 28.03.23: South Indian Bank today in its 94th year, marks a milestone in its journey as it announces its new brand campaign, “Trust meets Tech since 1929.” The campaign is a nationwide multi-media campaign, commencing on March 14, 2023.

Through this novel campaign, the Bank aims to create PAN India awareness of brand South Indian Bank and communicate its inherent strengths of being a trustworthy, digital bank catering to all demographic profiles and reinforce its presence in strong markets by becoming the banker of choice.

This campaign aims to target the youth of India, which constitute around 34% of the country’s population. The last few years have seen India become the world’s largest millennial market, drawing attention from across the world to Indian millennials. India’s youth are at the forefront of driving social and cultural change and they play a key role in the country’s economic growth.

Today’s consumers are hyper-connected and seek convenience, experience, simplicity, safety and speed in banking services. All of this is delivered using best-in-class technology. This, coupled with the legacy of trust is where South Indian Bank gets a winning combination. It is this critical messaging that is being communicated by the film in a metaphoric way.

Excited about the new campaign, Ms. Azmat Habibulla, Chief Marketing Officer, South Indian Bank said, “At South Indian Bank, we wish to endear ourselves to India’s younger audiences and enable our loyal customers to embrace new technologies. We want to become the preferred banker to India’s youth on the back of our digital and tech-savvy operations and the trust instilled in us by our millions of customers and generations of families, over nine decades. Since we originated from India’s Southern parts, we are renowned across the region. We aspire to move beyond our traditional bastions and make ourselves more popular across India. Our PAN India brand campaign with a digital focus will center on our key attributes of trust and technology.’’

The multimedia campaign depicts vibrant visuals that allude to speed, victory, integrity, and dominance. The imagery is bound to resonate with the young and old, who are known to value technology and propagate a sense of commitment.

The campaign will be released in multiple languages across India.

Jaipur, 27th March 2023: Kalyan Jewellers, one of India’s most trusted and leading jewellery brands, launched its new showroom in Rajasthan at Jaipur Vaishali Nagar, today. The showroom was inaugurated by actor and Kalyan Jewellers’ newest brand ambassador Ms. Rashmika Mandanna. This is the company’s fifth outlet in the state of Rajasthan.

On this occasion, Kalyan Jewellers’ brand ambassador, Rashmika Mandanna, said, “I am extremely honoured to be a part of the Kalyan Jewellers family, and today is the first public event that I have attended on the brand’s behalf. It has been an overwhelming experience – this warm reception, the showroom itself, and all the beautiful pieces of jewellery here – and I am confident that, like me, the patrons of this brand will appreciate Kalyan’s offerings.”

Talking about the new showroom, Mr. Ramesh Kalyanaraman, Executive Director of Kalyan Jewellers, said, “As a company, we have achieved huge milestones and taken major strides toward creating a holistic ecosystem to enhance the customer shopping experience.

We are delighted to announce the launch of our fifth showroom in Rajasthan. On this occas on, we would also like to welcome aboard our newest brand ambassador, Ms. Rashmika Mandanna. We promise to continue working toward offering the best-in-class shopping experience to our customers while staying true to the company’s core values of trust and transparency in times to come.”

The showroom will feature an extensive range of designs from Kalyan Jewellers’ jewellery collections, presented in a world-class ambience. Additionally, the “Kalyan Special Gold Board Rate,” which is the lowest in the market and standardized across all company showrooms, will apply, ensuring a seamless and service-backed shopping experience. In celebration of the showroom launch, Kalyan Jewellers is offering a unique promotion of 0% making charges on half the purchase value for customers shopping for a minimum of Rs. 1 lakh. These offers are valid for a limited period only.

The jewellery retailed at Kalyan Jewellers is all BIS hallmarked and goes through multiple purity tests. Patrons will also receive Kalyan Jewellers’ 4-Level Assurance Certificate, which guarantees purity, free lifetime maintenance of ornaments, detailed product information, and transparent exchange and buy-back policies. The certification is part of the brand’s commitment to offering the very best to its loyalists.

The showroom will also stock Kalyan’s popular house brands, such as Lila – diamonds & semi-precious stone jewellery, Tejasvi – Polki jewellery, Mudhra – handcrafted antique jewellery, Nimah – temple Jewellery, Glo – dancing diamonds, Ziah – Solitaire-like diamond jewellery,

Anokhi – uncut diamonds, Apoorva – diamonds for special occasions, Muhurat – wedding jewellery, and Rang – precious stones jewellery.

Hyderabad, 27th March 2023: Swaranartana Academy – an abode of ancient dance traditions of Andhranatyam & Perini Sivatandavam founded by Smt Padma Mohan Denduluri to revive the rich art forms, celebrated the birth centenary of the legendary Late Dr. Nataraja Ramakrishna, the doyen of Andhranatyam and recreator Perini Sivatandavam, by hosting an evening of Andhranatyam dance performances by Smt Padma Mohan Denduluri garu, today, at Potti Sreeramulu Telugu University, Nampally. A group of young Andhranatyam dancers, the prize winners at the recently held Andhranatyam dance competitions conducted by Swaranartana under the guidance and choreography of Abhinava Satyabhama, Shri Kala Krishna, enthralled the audience on the occasion.

Guests of Honor Sri Dr. Santosh Kraleti, Member, National Medical Commission; Sri Kalabramha Shiromani Vamsee Ramaraju, Former Member Central Film Censor Board; Sri Meer, Noted Film Personality; graced the occasion. Sri Nalini Mohan Denduluri, IFS, Former Principal Chief Conservator of Forests; presided over the function. Eminent exponent of Andhra Natyam Smt Rama Jagannath, Karnataka Kalasree Awardee, was presented the Lifetime Achievement Award and Special felicitations were done of Smt V Annapurna, Andhranatyam Guru and Sri Perini Ramesh, Perini Sivatandavam Guru; as a part of the birth centenary celebrations. The young winners of Andhranatyam dance competitions have presented the prizes.

Dr. Nataraja Ramakrishna garu, with his diligent scholarly efforts, revived Andhranatyam. This ancient classical dance form in vogue for the past 2000 years from the Telugu regions of Telangana, Rayalaseema, and Andhra; belongs to the Nattuva Mela tradition.

The evening saw a series of choreographies performed by Smt Padma Mohan Denduluri garu and team. The program started with the traditional invocation of Andhranatyam using kumbha haarathi followed by choreographies from Agama, Asthana, and Prabandha nartana traditions of Andhranatyam repertoire. The first part of the performances included Vinayaka Kautham, Adhyatma Ramayanam, Siva Kaivaram, Potana Padyam followed by Tarangam and Thillana performed by Smt Padma garu. She also presented a few key episodes from the Prabandha repertoire, Navajanardhana Parijatham. Navajanãrdhana Pãrijãtham (Shringara Drishya Divya Prabandham) is a shringara rasa predominant solo dance ballet depicting an episode of love story between Lord Shri Krishna and his 8th wife, the beautiful Satyabhama, which is as ancient as Gita Govindam.

The accompanying young artists included Kum. Gunda Sai Manaswini, Kum. Kothakapu Harshini Reddy, Kum. Tanmai Danda, Kum Seerla Prapoorna, and Kum. Adduri Sri Vallika disciples of Shri Perini Srinivas Rao and Smt Satwika Penna.

The performances were supported by an eminent orchestra with Guru Sri Kala Krishna on nattuvangam, and Smt Rama Jagannath on vocals, Sri. Janardhan on mridangam, Sri. Dattatreya on flute, Smt. Subbalaxmi on violin, Sri. Veera Swamy with percussion and Sri Pavan with make-up.

Mumbai, 27th March 2023: CLXNS, a digital-first debt resolution platform, has announced hiring 700+ employees. This is indeed a strategic move by the company, aligned with its goals of rapid growth and expanding footprints across the country.

CLXNS intends to hire across verticals, ranging from Product, Engineering and Design to Marketing and Data analytics. It is keen to onboard seasoned professionals for key leadership roles along with mid-level talent possessing expertise in technology. With the assistance of the newly hired employees and the company’s clear focus on investing heavily in its tech capabilities, CLXNS’ futuristic goal is to create scalable, digital-first debt resolution tools with high-degree compliance and governance.

Speaking on the same, Manavjeet Singh, CLXNS, said, “The current market scenario is unstable but we strongly feel that there is no right or wrong time for hiring talent. We believe India’s credit growth story has just started and is guaranteed to see a massive boom. And therefore we foresee an enormous growth in ethical debt resolution opportunities. At CLXNS, our sole aim is to build a scalable, digital-first debt resolution company. Simultaneously, we wish to emerge as a talent powerhouse in the industry with expertise in the tech capabilities. We are confident that with the new talent addition, we will be able to reach one step closer to our goals of expanding our footprints pan India and serve our customers better.”

CLXNS is on a mission to digitally transform traditional debt resolution into positive customer experiences. Leveraging advanced technologies, the company works with a customer-centric approach to provide assistance with debt resolution empathetically without impacting resolution efficiencies.

Hyderabad, March 27, 2023….…FLO(FICCI Ladies Organization) & YFLO (Young FICCI Ladies Organisation)’s Annual General Session and Change of Guard held in the city on Saturday till late evening.

CV Anand, Commissioner of Police, Hyderabad City, and Manisha Saboo, President of HYSEA (Hyderabad Software Enterprises Association) and Delivery Head of Infosys graced as Chief Guest and Guest of Honour.

In this ceremony of change of guard, Ritu Shah succeeded Shubhraa Maheshwari as FLO Chairperson and Arthi Shah succeeded Sonali Modi Saraf as YFLO ChairPerson for the year 2023 -2024.

Both the guests presented medallions to the succeeding chairpersons as a symbol of authority on their assuming office. Later, both leaders shared their vision for the year ahead.

Speaking on the occasion Mr. CV Anand said that he was always blamed partially on women complainants. I see the women’s side of policing.

I always encouraged my wife to pursue her dreams, and studies, go out, help others, and share the top cop of Hyderabad.

In 174 (police came into existence in 1847) of the year of police existence I was given an understanding that the city police never had a woman SHO. When this was brought to my notice, we appointed one in Lalaguda Police Station. In one year of her assuming office she proved to be outperforming men, Anand shared. Similarly, Dhanalakshmi and Jyotsna who chose traffic over law and order proved their mettle. These two examples prove women outperform men if given a chance Anand said.

Speaking about The Moment of Lift: How Empowering Women Changes the World, CV Anand said women have to realize that no one is going to give you. You must go and get it.

Quoting Michelle Obama, the former first lady of the USA, who once said “For every door that’s been opened to me, I’ve tried to open my door to others, CV Anand asked 300 plus women in the audience to open the door for others. He also suggested including rural women entrepreneurs, who may not match you. But you can be a partner in their growth story.

Manisha Saboo said, “we are all privileged because somebody allowed us to take birth”. I don’t know if you have ever paid attention to the fact that 3223 girls are killed in the womb every day. That is why we all are privileged that we have got a chance to take birth. She gave a clarion call to have a gigantic dream, the dream that must scare you.

Both the guests unveiled the Connect Magazine.

Delivering her address, Shubhraa Maheshwari, Chairperson of FLO said that the year gone was an incredible journey, filled with experiences, challenges, triumphs, and memories that will stay with me forever.

Our team strived hard to bring value to members through many speaker sessions from the likes of Nitin Gadkari, Rajat Sharma, Shashi Tharoor, Sonu Sood, R Madhavan, Mithali Raj, and many more. We could impact 25000 women pan-India through our national Financial Literacy initiative. The Digital Literacy and Education initiatives have benefitted over 1000 school and college-going girl children.

We have also Generated business to the tune of INR 2.50 Crores for 3 FLO members towards the design, production, and distribution of 70,000 sarees for ASHA and ANM workers across Telangana, she informed.

Mumbai: 27th March 2023: City trips are one of the drivers for global travel, with the expectation that almost 800 million people will visit global urban destinations annually by 2025*. To help travellers research options for mindful urban travel easily , the world’s leading travel search engine KAYAK has launched the City Index for Mindful Travellers**. Rotterdam secured the top spot, named the most attractive city destination for mindful travellers, followed by Amsterdam and Graz.

KAYAK’s City Index for Mindful Travellers (CIMT) is an interactive guide, designed to help travellers consider sustainability-related aspects, such as airport carbon accreditation, local traffic or air quality, in city destinations all over the world as they plan their next trip. The CIMT analysed 167 cities in 63 countries across 28 factors to help conscious travellers make more informed travel decisions. The Index also features the option to personalize the results and filter by the factors which matter the most to travellers.

Europe is leading the way Rotterdam, Amsterdam and Graz are the first 3 positions in KAYAK’s ranking, with the top 10 spots held by European cities. The Dutch port city Rotterdam has scored highest, with its airport having an advanced carbon management system certified by Airport Carbon Accreditation, a great urban rail network, and the widest length of cycling routes. Amsterdam, Netherlands, comes in 2nd, world- renowned for bike-friendly options and pedestrianised streets, with viable options for driving eco- friendly cars and a high concentration of EV charging stations. Graz, Austria, takes the 3rd spot, scoring with great rail links, plenty of EV charging stations, and a walking-only UNESCO World Heritage city centre to explore*.

Top 10 highest ranked cities according to KAYAK’s City Index for Mindful Travellers:

1. Rotterdam, Netherlands
2. Amsterdam, Netherlands
3. Graz, Austria
4. Trondheim, Norway
5. Munich, Germany
6. Helsinki, Finland
7. Stockholm, Sweden
8. Zurich, Switzerland
9. Gothenburg, Sweden
10. Vienna, Austria

Indian travellers plan for more sustainably-minded tourism “According to our recent international research, 75% of Indian travellers don’t have enough information to make sustainability-minded travel decisions***. With the new City Index for Mindful Travellers, we are making it easier for mindful travellers to make informed choices when exploring city destinations,’’ comments Per Christiansen, SVP, Marketing at KAYAK.

North America: Vancouver at the top Vancouver in Canada and San Francisco in the USA form the leading 2 in KAYAK’s ranking for North America, just ahead of Boston, Washington DC and New York. Vancouver was noted for its air quality, San Francisco landed in 2nd place thanks to its top-notch urban rail transit system and pedestrian-only roads. Boston slides into the 3rd spot, with plenty of EV charging stations, bike rental options and bike paths which make getting around the city with less carbon emissions easier.

Tokyo leads the way in Asia-Pacific

Tokyo, Japan, reached the highest rank in the Asia-Pacific region, followed by Osaka, Japan. The Japanese apital’s local markets, theaters and art galleries are extremely accessible thanks to “pedestrian only” and designated bike roads. Tokyo’s variety of bike sharing options effortlessly connect travellers to the world-class rail system. In Osaka the popularity of bikes for commuting accounts for as much as three times that of cars.

Latin American podium with Santiago, Quito and Bogota Santiago, Chile, took the grand prize in the Latin American ranking. Chile’sairport has been recognized for great carbon management according to Airport Carbon Accreditation. In Quito, Ecuador, which came 2nd, travellers can easily hire eco-friendly cars as the city is well equipped with EV charging stations. As a UNESCO ICCAR (International Coalition of Inclusive and Sustainable Cities) member, Bogota, Colombia, rounds out the top 3 in the region, showing a commitment to diversity and inclusion – evident in the amount of the city’s tours that are wheelchair- accessible (26%).

Tunis pulls ahead of Tel Aviv and Dubai Being a mindful traveller also means supporting a destination’s culture and communities, and benefiting the local economy wherever possible by, for instance, buying local produce. In Tunis,
Tunisia, which leads the ranking in this region, the density of markets and the opportunity to buy second-hand is great for delving into the local culture. Tel Aviv, Israel, is 2nd and excels in the number of walking tours, some of which are free of charge. And while strolling from one cultural point to another, travellers can find recycling points. The UAE’s Dubai is in 3rd place due to its eco-friendly car hire options for costs lower than for conventional cars.

BMW Motorrad commences its most awaited training program – GS Experience 2023 in Bengaluru. GS Experience will offer riders a unique opportunity to experience the exceptional capabilities of BMW Motorrad’s class-leading legendary GS range in its natural habitat. The two-day curated training sessions are designed exclusively for BMW adventure motorcyclists and will be held at Adventure Riders Den Enduro Park, Harohalli, Bannikuppe, Karnataka on 25-26 March 2023.

BMW Motorrad will host this two-day immersive brand experience for GS enthusiasts across 11 cities – Delhi, Chandigarh, Mumbai, Pune, Chennai, Hyderabad, Ahmedabad, Kolkata, Kochi, Bengaluru and Lucknow.

Designed exclusively for BMW GS owners the two-day level 1 program will help riders to master basics of off-road riding. The day 1 training program is for BMW GS owners of 650 cc and above GS bikes. While the day 2 is for BMW 310 GS riders. The training includes basic familiarity of the motorcycle, understanding of correct rider position, enduro steering and other exercises such as gravel riding, emergency stops on slope, emergency braking and riding on inclines. Riders automatically qualify for level 2 training upon successful completion of level 1.

The GS Experience training also preambles the nationwide search for ‘Team India’, a trio of GS riders forming a team to contest the coveted International GS Trophy. BMW Motorrad recently announced the next destination for the International GS Trophy 2024 as Namibia. BMW Motorrad India will hold the GS Trophy qualifiers later this year.

The GS Experience showcases the dynamic qualities of each GS model in real-world conditions and techniques to enjoy the Spirit of GS while ensuring highest safety. Each session includes a briefing and demonstration by certified BMW Motorrad Trainer that will take riders through the impressive array of technologies available on the GS range of motorcycles. The sessions offers riding experience on a combination of bitumen and off-road under expert supervision.

Portugal, March 27, 2023: Marc Marquez surprised even himself as he secured a record-breaking pole and converted it into a history-making podium in the first MotoGP Sprint.

Saturday, March 25, saw history made as the MotoGP World Championship contested its first-ever Sprint race. The morning started with pure excitement and elation for the Repsol Honda Team as Marc Marquez went through Q1 with just a single run, bettering the lap record set by Jack Miller the previous day. This was then converted into a truly spectacular performance in Q2 as Marquez again improved on the lap record to take a sensational pole position. Repsol Honda Team teammate Joan Mir narrowly missed out on the second transfer spot and secured 14th on the grid for his MotoGP debut on the Honda RC213V.

Tension filled the air as the MotoGP class lined up for the Sprint race, an incredible 12-lap contest awaiting them. From pole position, Marquez got an explosive start as he and his Repsol Honda Team RC213V rocketed off the line to lead the first lap. Defending well for the opening laps, the #93 was able to maintain his position in the leading group and waited as the riders ahead battled. In the final moments of the race, Oliveira and Miller opened a gap and the eight-time World Champion was able to attack – moving up into third.

With his 64th premier class pole, Marquez’s 1’37.226 set a new outright lap record around the Portuguese circuit. This is Marc Marquez’s first pole position since the 2022 Japanese Grand Prix and his first pole in dry conditions since the 2019 Japanese Grand Prix – some 1,253 days ago. Marc Marquez heads into Sunday with seven World Championship points, third in the World Championship standings.

From 14th on the grid Mir was immediately locked into a tense battle with the riders around him. Recovering positions and already showing a pace faster than those ahead, the #36 began to pick his way forward and passed several riders on the opening lap. Unfortunately Turn 13 would see Mir’s race come to an end as he lost the front, colliding with Fabio Quartararo as a result.

Racing continues tomorrow, Sunday, March 26, as the Portuguese Grand Prix is scheduled to run at 15:00 Local Time. This will be a full-distance race, 25 laps where Marc Marquez will again start in the pole position.

Marc Marquez – Third

“Well, today was really a surprising day but it was a great day, it helped to restore a lot of confidence for myself and the team. Starting with the pole, honestly, I don’t know how I was able to find this time – it was much faster than I had been before. It’s a good advantage to start from pole position and we were able to fight in the Sprint race. When I saw Oliveira and Miller go wide, I knew this was my chance and I attacked. The new format is very demanding, but I think this short race was a good show for the fans. Tomorrow is what really counts and will show where we are more I think.”

Joan Mir– DNF

“Starting in 14th is a lottery, you have a lot of riders around you who are very eager to recover positions as quickly as possible. It was a very aggressive start to the race because of this, I think if we were starting up higher then we could show our true pace. We have good pace for the race tomorrow, so this makes me feel more confident if everything is more calm at the start. I also want to apologise to Fabio for the contact.”

Portuguese GP – Sprint Race

Rider Standings

…

India, 27th March 2023: IMPACT by Honeywell, a leading player in the Automatic Identification and Data Capture (AIDC) segment, has successfully concluded its Holi special customer connect campaign ‘Let’s make an impact together’. Through this campaign, it engaged with the end users and partners to recognize their contribution and celebrate collective success together on the occasion of Holi.

Honeywell has conducted this drive over 5 locations like, Lamington road and Andheri IT market in Mumbai, Nehru place and Janakpuri IT market in New Delhi, Naza IT Market in Lucknow, PCMC IT market in Pune and Kocher IT market in Ludhiana. The campaign brought together customers and partners to showcase the brand’s latest offerings and build lasting relationships.

With the IMPACT series of AIDC solutions like barcode printers, barcode scanners, and mobile computers, Honeywell has established trust in the market that global brands can also offer localized offerings and support at competitive pricing without compromising on product quality.

IMPACT by Honeywell is a brand created by Honeywell International to cater to the growing mid-market segment in India. The brand has been delivering innovative, sustainable, affordable, simple, and connected solutions that cater to sectors such as retail, manufacturing, healthcare, e-commerce, and supply chain. Their offerings include point-of-sale solutions, warehouse automation, digital safety & productivity solutions, and asset tracking.

New Delhi, 27th March 2023:- Jaipur-based Retail Jeweller player Motisons Jewellers, has filed its draft red herring prospectus (DRHP) with the markets regulator Securities and Exchange Board of India (SEBI) to raise funds through an initial public offering (IPO) with a fresh issue of 3,34,71,000 equity shares, with no offer for sale component.

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

The issue has a face value of Rs 10 per equity share for the proposed share sale. 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 the lead banker to the issue, may consider a pre-IPO placement of up to 60,00,000 equity shares for cash consideration. If such placement is completed, the fresh issue size will be reduced.

The proceeds from its fresh issuance worth Rs 58 crores for the repayment of existing borrowings availed by the company from scheduled commercial banks, Rs 71 crore for funding working capital requirement besides general corporate purposes.

Motisons Jewellers is managed by second generation entrepreneurs, Sandeep Chhabra, Chairman & Whole Time Director and Sanjay Chhabra, Managing Director, sons of Late Moti Lal Chhabra, who have over two decades’ years of expertise in the jewellery industry. It began operations in 1997 by opening a showroom in Johri Bazaar in Jaipur, Rajasthan, with approx. 304 sq. ft. in area and with growth in the business expanded it to 1355 sq. ft. by 2002. The flagship store ‘Motisons Tower’ is located at Tonk Road, Jaipur with an area of approx. 11,700 Sq Ft and has 3 floors, a floor each dedicated for silver, gold, and diamond jewellery respectively.

Currently it has a 4 showroom networks under the “Motisons” brand, located across the city of Jaipur, with the most recent outlet, opened in the year 2021, at Vaishali Nagar. Its manufacturing facilities are located at Sitapura Industrial area and Bapu Nagar, Jaipur.

It primarily sources finished jewellery from third party suppliers located across India and its business involves sale of jewellery made of gold, diamond, kundan and sale of other jewellery products that include pearl, silver, platinum, precious, semi-precious stones and other metals, gold and silver coins, utensils and other artifacts across multiple prominent locations in Jaipur, Rajasthan.

Its product portfolio comprises of over 300,000+ jewellery designs that includes traditional, contemporary and combination designs for special occasions such as weddings and festivals to daily wear jewellery for all ages, genders and across various price points.

The jeweller launched its website in 2011 and commenced online sales in 2018 to serve younger and tech-savvy customers, who can browse the catalogue based on preferences, collections and designs, and purchase the jewellery directly and have it delivered to their homes. It also arranges virtual appointments to assist its customers.

Motison’s clocked a profit of Rs 14.75 crore in the financial year FY22 against Rs 9.67 crore in the previous year. Its profit for the six-month period ended September 2022 stood at Rs 10.00 crore on revenue of Rs 162.02 crore. The companies’ revenue from operations climbed 47.55% from Rs 213.04 crore in fiscal 2021 to Rs 314.33 crore in Fiscal 2022, attributable to an increase in sale of jewellery i.e., gold and studded jewellery.

According to the CareEdge Report in its DRHP, in FY22 it recorded the second best Debt EBITDA ratio of 3.91 amongst its listed peers in India. Its Debt to Equity Ratio has fallen from 1.50 in 2020 to 1.28 as on September 30, 2022 where as other players like Thangamayil Jewellers have seen an increase in its debt to equity ratio from 1.07 in FY19 to 1.50 as on September 30,2022

Additionally states, the G&J industry’s market size was estimated to close at USD 60 billion in CY21. The Indian jewellery market is traditionally dominated by gold jewellery. In CY21, the total demand for gold by Indian consumer was estimated at 800 tonnes. Compared to the previous year the demand for gold witnessed a growth of approximately 78% in CY21. A majority of the demand in CY21 came from gold jewellery which was approximately 75% (600 tonnes). There has also been a noticeable shift towards more informal and everyday use of diamond studded jewellery.

Holani Consultants Private Limited is the sole book running lead manager to the issue and Link Intime India Private Limited is the registrar to the issue.