Union Bank of India successfully raised ₹ 3,000 Crore Equity Capital via Qualified Institutions Placement (QIP)

Union Bank of India, one of the largest Public Sector Banks in India, has successfully raised equity capital of ₹ 3,000 crore via Qualified Institutions Placement (QIP) on February 26, 2024. The Issue was opened on February 20, 2024 and received strong interest from high quality Domestic and Foreign Portfolio Investors. Bank has allotted 22.11 crore Shares at price of ₹ 135.65 per share (including premium of ₹ 125.65 per share) aggregating to ₹ 3,000 crore representing a discount of approximately 5% to the floor price determined as per Regulatory guidelines.

Bank has received significant & encouraging response from the market & seen participation by a diversified investor base which includes Banks, Asset Management Companies, Insurance Companies and Foreign Portfolio Investors, thereby ensuring diversification of the shareholder base of Union Bank of India.

On the Successful capital raising, Ms. A Manimekhalai, MD & CEO, says “We are delighted to conclude one of the largest equity capital raising issue in public sector banking space in the recent past. Bank has successfully raised ₹ 8,000 crore by way of QIPs during the year, which is the highest in the history of Union Bank of India and one of the highest in the history of Public Sector Banks in a financial year, in recent years. This demonstrates the continued faith of investors on the Bank’s growth trajectory and prospects. The QIP Proceeds will augment the Capital base and help us pursue growth opportunities as we endeavour to create value for our Customers & Shareholders”.

As on December 31, 2023, the public shareholding in Union Bank of India stood at 23.01%. Consequent to the equity capital raising, the public shareholding in the Bank increased to 25.24% and consequently, the shareholding of Government of India becomes 74.76%. Bank has complied as per SEBI and Securities Contract (Regulations) Rules, 1957 (“SCRR”) & its further amendments i.e. to maintain a minimum public shareholding of at least 25.00%.

The Book Running Lead Managers (BRLMs) to the QIP issue were IIFL Securities Ltd., J M Financial Ltd., IDBI Capital Markets & Securities Ltd., HDFC Bank Ltd. and BNP Paribas. The Legal advisors of the transaction were Luthra & Luthra Law Offices, Saraf & Partners and Duane Morris & Selvam LLP. The Statutory Auditors were N B S & Co., Chhajed & Doshi, G S Mathur & Co., P Chandrasekar LLP and M/s. V K Ladha & Associates.

SG Analytics Welcomes Dr. Das Dasgupta to Its Advisory Board

New Delhi, March 2nd, 2024- SG Analytics, a renowned global data solutions firm, proudly announces the appointment of Dr. Das Dasgupta to its esteemed Advisory Board. This strategic move promises to fortify SG Analytics’ Data Strategy and Data Analytics offerings for the dynamic Media & Entertainment industry worldwide. Dr. Dasgupta’s role will be pivotal in enhancing and streamlining SG Analytics’ data analytics & strategy initiatives, as well as providing expert guidance on customer experience programs.

Meet Dr. Das Dasgupta: A Data Strategy Luminary

With over two decades of expertise in the data strategy domain, Dr. Dasgupta brings a wealth of knowledge to SG Analytics. His seasoned proficiency lies in harnessing data and artificial intelligence to drive revenue growth with product innovation and enhanced customer experience while optimizing business costs with operational excellence. He excels at assembling top-tier data strategy teams and implementing cutting-edge AI and ML technologies for data-driven decision-making. Dr. Dasgupta’s impactful track record spans prestigious organizations such as Viacom, Amazon Customer Experience Systems (ACES), McKinsey, and EY. Most recently, he held the esteemed position of Chief Data Officer at Saatchi & Saatchi (S&S).

Sid Banerjee, CEO of SG Analytics, Expresses Enthusiasm

Sid Banerjee, CEO of SG Analytics, expressed his excitement about Dr. Dasgupta’s inclusion in the Advisory Board: “Dr Dasgupta’s presence reinforces our commitment to client value and strengthens our ties within the M&E Industry. Attracting leaders like Das aligns perfectly with our overarching goal: empowering enterprises through data across the entire value chain.”

Dr Dasgupta: Advancing Data Strategy and Achieving Reliable Outcomes

“As of today, SG Analytics is a trusted partner for leading enterprises. Our reputation is founded on research expertise, robust technical capabilities, and technology-driven solutions. As a member of the Advisory Board, I am committed to advancing data strategy, addressing industry challenges, and achieving reliable outcomes. I look forward to collaborating with SG Analytics’ leadership team to empower enterprises through data-driven decisions.” – Dr. Dasgupta.

CredShields Secures $1 Million in Funding to Bolster Web3 Security, Backed by Draper Associates

National, March 2, 2024 – In a significant boost to the future of Web3 security, CredShields, a leader in blockchain security solutions, has announced a strategic investment of $1 million from Draper Associates. This funding propels CredShields’ mission to enhance the security of the digital landscape through the development of SolidityScan, a cutting-edge tool designed to automate and streamline smart contract audits.

credshields

With a cumulative funding of $1.8 million to date, Cre dShields is at the forefront of addressing the critical need for robust security mechanisms in the rapidly evolving Web3 ecosystem. This investment underscores the industry’s recognition of the urgent need to safeguard digital assets against the backdrop of increasing vulnerabilities and attacks.

Shashank, Founder and CEO of CredShields, expressed enthusiasm about the partnership: “This funding milestone is a testament to our vision for a secure Web3 environment. With Draper Associates’ support, we’re set to redefine smart contract security, establishing new standards of trust and safety across the blockchain community.”

The investment will be utilised to further enhance SolidityScan’s capabilities, ensuring CredShields remains at the cutting edge of blockchain security innovation. As the Web3 space continues to grow, CredShields’ strategic initiatives are crucial for fostering a secure, inclusive, and thriving digital future.

IDEMIA India Foundation Nurtures Environmental Stewardship: Embarks on Planting 15,000 Trees in Newly Established Biodiversity Park

Noida, February 29th, 2024: IDEMIA India Foundation is delighted to announce the transformation of 3.8 acres of former industrial dumping grounds into a flourishing Biodiversity Park in Noida’s Phase 2, showcasing our steadfast commitment to environmental sustainability and community welfare. In collaboration with the Noida Authority and the Give Me Trees Foundation, our team has successfully planted 15,000 trees comprising over 70 diverse species, marking a significant milestone in enriching the ecological landscape of the region.

Previously tarnished by its industrial dumping yard history, the site presented daunting challenges, including deep-seated industrial chemicals and accumulated debris. Overcoming these obstacles required six months of dedicated efforts focused on meticulous cleaning, encompassing debris and plastic removal. Extensive soil rejuvenation efforts were also undertaken to ensure it could sustain a diverse range of flora and fauna.

The revitalization of this land was made possible through the generous investment of time and energy by IDEMIA employees, resulting in its transformation into a vibrant biodiversity sanctuary. Their dedication, coupled with collaborative endeavors from local authorities and the Give Me Trees team, has culminated in this remarkable achievement. Following the tree-planting initiative, participants indulged in a post-plantation nature walk, immersing themselves in the tranquil beauty of the park. Guided by environmental experts, attendees gained invaluable insights into the region’s rich biodiversity and the imperative of preserving natural habitats.

Matthew Foxton, India Regional President & Executive Vice-President, Branding & Communications, IDEMIA Group, expressed his gratitude, stating, “IDEMIA extends its appreciation to the Noida Authority for entrusting us as a corporate partner for the development of the Biodiversity Park. We are privileged to contribute to community well-being, firmly believing that promoting biodiversity conservation enhances the quality of life for both present and future generations.”

This initiative epitomizes IDEMIA’s holistic approach to corporate social responsibility, emphasizing initiatives that not only benefit the environment but also foster community engagement and promote sustainable development.

Dr. Shuchin Bajaj from Ujala Cygnus Group of Hospitals honored at the India UK Achievers Awards 2024

New Delhi, 02.03.2023: In yet another achievement, Dr. Shuchin Bajaj, Founder Director of Ujala Cygnus Group of Hospitals is a finalist in the Business category at the India UK Achievers Honours 2024. This initiative by the National Indian Students and Alumni Union UK (NISAU) in partnership with the British Council (in India) and the UK Government Department for Business and Trade aims to celebrate the India-UK educational ties by recognizing the work of Indian students and alumni who have pursued a British program of study and have since shown excellence in their field and made immense contributions to society.

dr.suchin bajaj

 Commenting on the importance of the India UK Achievers Honours, UK Prime Minister Rishi Sunak said, “First I would like to thank you for all that you are doing to champion the special UK-India partnership. I am pleased to see that for the second year, you are showcasing exceptional Indian talent that has been developed in the UK. I am extremely proud of the UK- India partnership and the 2023 Achievers Honours highlights the strong outcomes that can arise through partnership.”

 Commenting on the achievement, Dr. Shuchin Bajaj said, “It’s a great honor and experience to share the stage with some of the brightest minds and achievers in different categories. I would like to extend my gratitude to NISAU, the British Council, and the UK Parliament for recognizing my achievements in the field of healthcare. This will inspire me to further contribute to achieving accessible and equitable healthcare in India and make a positive impact on the society at large.”

 Alison Barrett MBE, Director India, British Council said, “As a jury member, it has been a pleasure to learn about the meaningful contributions of the applicants of India UK Achievers Honours. The success stories of the UK alumni from India are brilliant testimonies to the excellence of UK education and the career opportunities it enables for international students. We are excited to celebrate the success of these alumni, and the ever-growing partnership in education between both our countries.”

GreenGen Announces Expansion to India, Elevating Global Reach to Accelerate Low-Carbon Solutions Across the Built Environment

Mumbai, India, March 2nd , 2024: GreenGen, a global leader in energy and sustainability solutions, is proud to announce its expansion into India, unveiled at the Urban Land Institute (ULI) India Summit in Mumbai. This strategic move aims to better support leading real estate investors, operators, and businesses in their transition towards net zero.

Since 2022, GreenGen has maintained a presence in India, however, this latest initiative marks a significant expansion, establishing a comprehensive team in the world’s most populous country. This expansion reflects GreenGen’s commitment to providing local expertise and custom solutions. The India team comprises mechanical, electrical, and environmental experts, including a program management ead to spearhead strategy development and execution. This move aligns with GreenGen’s philosophy of meeting clients where they are, extending its global reach across the US, Europe, APAC, and now India. GreenGen is trusted by some of the largest real estate and private equity firms in the world, helping them to develop and implement sustainability initiatives across global real estate portfolios.

India’s rapid economic development and urbanization are driving an increase in energy demand, positioning the country as the third largest in global emissions, behind only China and the United States. Despite this, India’s per capita emissions remain remarkably low, in fact, over seven times lower per person than in the US. GreenGen recognizes the critical need for sustainable urban development in India to avoid the carbon-intensive approaches historically adopted by other nations.

India presents a unique opportunity to pioneer a new model of economic development, one that could provide a blueprint of sustainability for other developing economies. The country’s commitment to net zero emissions by 2070, its flourishing economy, and its potential for growth make it a pivotal market for low-carbon solutions. GreenGen is dedicated to supporting India’s shift towards greener, electrified alternatives.

“The next decade will be all about India,” says GreenGen CEO, Brad Dockser. “The built environment in India presents a massive opportunity for GreenGen to capture exciting growth opportunities. By making low-carbon strategies profitable, we aim to lead our clients towards long term success while accelerating the energy transition.”

To date, GreenGen has completed projects in over 25 countries, leaving a tangible mark on the global andscape. GreenGen has been recognized as an Inc. 5000 fastest-growing company and has received numerous awards for sustainability, innovation, and culture. These accolades underscore GreenGen’s commitment to leading the way in energy efficiency and sustainable solutions.

EaseMyTrip unveils the Leap Year Travel Sale with unprecedented discounts on travel bookings

EaseMyTrip.com, one of India’s leading online travel tech platforms, has announced the Leap Year Travel Sale, a special spring sale that promises extensive discounts across a wide range of travel services. Scheduled from February 27th to March 5th, 2024, this sale is designed to give travellers an extra dose of adventure with irresistible deals on flights, hotels, bus tickets, cab rentals, and holiday packages.

EaseMyTrip Logo

During the Leap Year Travel Sale, customers can expect discounts on

Flights – Up to 25% OFF*

Hotels – Up to 50% OFF*

Buses – Up to 15% OFF*

Cabs – Up to 12% OFF*

To access these amazing discounts, customers can make use of the promo code “EMTLEAP” when booking through the EaseMyTrip app or website. Additionally, by booking with select bank partners such as ICICI Bank Credit Card (including Amazon Pay Credit Card), users can avail of extra discounts, enriching their travel experience even further. To make this sale even more exciting, every transaction made during the sale period gives you a chance to win gift vouchers from select brand partners, including Bata, Ferns N Petals, Zepto, Vaaree, and Woggles.

EaseMyTrip has joined hands with several prestigious airline partners for this sale, which include reputed names like American Airlines, Air Mauritius, Air France, KLM Royal Dutch Airlines, Air Astana, Akasa, Air India, Delta Airlines, British Airways, Egypt Air, Ethiopian Airlines, Gulf Air, ITA Airways, IndiGo, Kenya Airways, Lufthansa, Swiss International Airlines, Lot Polish, Myanmar Airlines, Oman Air, Qantas Airways, Qatar Airways, RwandAir, Star Air, Singapore, Saudi Airlines, Turkish Airlines, Vistara, Virgin Atlantic, and Vietnam Airlines.

Selected hotel partners for this exclusive sale encompass renowned names like Byke, ClubMahindra, Brij, Zone By The Park , Justa, WelcomHeritage, Shrigo, Chevron, Starlit, Q Hotel, Beyond Stay, Le Roi, Treebo, Ramee Group, Vesta, Ananta Hotels, Lime Tree, Go Room Go, Magnus Group, Treehouse, Sumi YASHSHREE Group, Jian Group, Ramada Gurgaon Central, Country Inn & Suits-Sahibabad, Saraca Hotels & Resorts, Lohono Stays, Neemrana Group of Hotels, Windflowers Resorts & Spa, TGI Hotel & Resorts, Symphony Resorts (Andaman Islands), Tree Of Life, Country Inn, Lords (Some Selective Hotels), Spree, Royal Orchid / Regenta (Some Selective Hotels), Ginger (Some Selective Hotels), Mayfair hotels, Pride (Some Selective Hotels) OTHPL (MASTIFF, CITRUS, KYRIAD, ISTAY), Sterling, Fab Hotels and Suba (Some Selective Hotels)

“As the calendar grants us an extra day this leap year, the stars align for new adventures,” said Rikant Pittie, Co-Founder of EaseMyTrip. “With hand-picked deals on flights, hotels, holiday packages and more, we invite you to embark on a journey where joy lives in both the travel and the destination. Make this leap year a blank canvas for your dreams, painting memories that will last forever, with EaseMyTrip as your guide to the most moving and magical adventures yet.”

The Leap Year Travel Sale is not just about discounts; it’s also an opportunity to win exciting rewards. The highest spender during the sale period will have the chance to win a flat INR 1000 OFF* on Bata products and the winners will be selected after the sale period on the basis of their transaction amount.

To participate, customers need to book their travel services between February 27th and March 5th, 2024, using the coupon code: EMTLEAP. After each transaction, customers will receive an email with multiple gift vouchers, which can be redeemed easily. This offer is open to all new and existing customers and is valid on both the EaseMyTrip web and app platforms.

Seize the opportunity to transform your travel dreams into reality with EaseMyTrip’s Leap Year Travel Sale from February 27th to March 5th. As you leap into new adventures and collect unforgettable memories, let this sale be the stepping stone to your next great journey. With exclusive discounts on flights, hotels, and more, your travel aspirations for 2024 and beyond are within reach.

World Hearing Day 2024 is celebrated on 3rd March every year

World Hearing Day 2024 emphasizes the imperative shift in mindsets towards making ear and hearing care accessible to all individuals.

Ensuring ear and hearing care is accessible to all involves addressing various aspects to promote auditory health and well-being on a global scale. Government should take following necessary steps to make ear and hearing care accessible to all,

1. Awareness and Education:

– Implementing educational programs to raise awareness about the importance of hearing health.

– Disseminating information on preventive measures specially in school and college going children, early signs of hearing loss, and the significance of timely intervention.

2. Newborn Hearing Screening:

– Introducing and promoting mandatory hearing screenings for newborns in healthcare facilities to identify potential hearing issues early on. Newborn hearing screening plays a pivotal role in identifying potential hearing loss early, allowing for timely intervention to support language and communication development. Despite the prevalence of hearing loss in newborns, there is a need for mandatory hearing screening in all delivery hospitals.

3. Medical Infrastructure:

– Developing and enhancing medical infrastructure to facilitate hearing assessments, diagnostic evaluations, and intervention services.

– Ensuring that audiological services are available in both urban and rural areas.

Brain scans indicate that hearing loss may accelerate brain atrophy, contribute to social isolation, and potentially lead to dementia. Clinically, patients with hearing impairment experience fatigue due to the mental effort required for communication, heightened stress hormone levels, and increased sensitivity to noise exposure.

Hearing loss not only impacts communication but also affects balance, as the ears provide crucial cues for walking safely. Various factors, including genetics, noise exposure, medications, head injuries, and infections, can contribute to hearing loss. Early signs often involve difficulty detecting soft or high-pitched sounds, ringing in the ears (tinnitus), and in Telangana State, hearing impairment is prevalent, affecting approximately 1 in 23 people overall and a third of those aged older than 65.

4.  Accessibility of Hearing Aids:

– Exploring innovative solutions, such as government subsidies or assistance programs, to improve accessibility to hearing aids.while we still have many subsidies but once the hearing aid is taken home we don’t have a system to check whether patient wears it and gets the adequate benefits or not. While some may consider buying hearing aids online, it’s essential to note that as of December 2023, the Chief Commissioner for Persons with Disabilities has prohibited the off-the-shelf and e-commerce sale of hearing aids, reinforcing that these are medical devices requiring proper prescription and guidance.

5. Professional Training:

– Providing training for healthcare professionals, including audiologists and primary care physicians, to enhance their skills in identifying and managing hearing issues.

6. Integration into Primary Healthcare:

– Integrating ear and hearing care into primary healthcare services to make it a routine part of overall health check-ups.

7. Global Policies and Advocacy:

– Advocating for policies at the national and international levels that prioritize hearing health as a fundamental aspect of public health.

– Encouraging governments to allocate resources and implement strategies for comprehensive ear and hearing care.

8. Technology and Telehealth:

– Utilizing technological advancements to improve telehealth services for remote consultations, especially in areas with limited access to audiological expertise.

9. *Community Engagement:*

– Engaging communities in campaigns to destigmatize hearing loss, fostering a supportive environment for those with hearing impairments.

10. Research and Innovation:

– Investing in research to better understand the causes and potential treatments for hearing loss.

– Encouraging innovation in hearing care, such as the development of assistive devices and improved treatment modalities.

By addressing these aspects, the goal is to create a comprehensive and inclusive approach to ear and hearing care, ensuring that individuals of all ages and backgrounds have access to the necessary services and support for maintaining optimal auditory health.

APL Apollo Foundation Launches CSR Project Karuna to Vaccinate Street Dogs

Noida, 2nd March 2024: APL Apollo Foundation, the Corporate Social Responsibility (CSR) arm of APL Apollo Group, has launched its community-focused Project Karuna in Gautam Budh Nagar, Uttar Pradesh. The initiative aims to administer anti-rabies vaccines (ARV) to approximately 1200 street dogs in the region. It was flagged off by officials from the Noida Authority including Mr. S. P. Singh, Deputy General Manager, Mr. R. K. Sharma, Project Engineer and Mr. Y. K. Harish, Health Inspector. The project is conceptualized by Ms Nonika Raj Kumar, Head – CSR, APL Apollo Foundation, supported by well-known animal welfare worker Ms. Shilpi Jain and veterinarian Dr Satyendra Kumar as on-ground partners from Noida. With Project Karuna, APL Apollo Foundation envisions creating a safe and healthy world for all.

Project Karuna Launch

Introducing the initiative Mr. Sanjay Gupta, Chairman & Managing Director of APL Apollo Tubes Limited, said, “At APL Apollo, we firmly believe in giving back to society and the best way to do it is through community-driven initiatives to strengthen the health and wellness of everyone around us. Via Project Karuna, we strive to mitigate the possibility of rabies infection and create a safer environment for all. I am proud of the APL Apollo Foundation team and our invaluable partners in developing this impactful programme.”

Humans and animals share an interconnected environment, and often, humans can contract diseases from animals. In urban cities, street animals like dogs are particularly vulnerable as they often remain unvaccinated. Nearly 35% of global rabies deaths are due to dog-mediated rabies and India accounts for around 1/3rd of these. Recognizing this challenge, India has introduced the ‘One Health’ approach (integrating human and veterinary healthcare systems) which has led to the creation of a National Action Plan for Dog Mediated Rabies Elimination by 2030. Following this initiative, APL Apollo Foundation’s Project Karuna endeavors to lower infection risks in animals, minimize disease transmission to humans and create a healthy living environment for all.

Amplus Solar successfully commissions its first Inter-State Transmission System (ISTS) project in Bikaner, Rajasthan

Hyderabad, 2 March 2024: Amplus Solar, India’s leading clean energy solutions provider, is proud to announce the commissioning of its pioneering 360 MWp Inter-State Transmission System (ISTS) solar plant, Project Jai, situated in Jaimalsar village in Bikaner, Rajasthan.

The solar power generated by the plant will be shared with Commercial and Industrial (C&I) clients nationwide, enabling them to fulfil their green energy objectives. This monumental achievement is a significant milestone for Amplus in its quest to meet the escalating demand for uninterrupted clean energy in India’s C&I sector.

The state-of-the-art solar facility, equipped with the latest available solar technology, including bi-facial modules, single-axis trackers, and 100% robotic cleaning systems, epitomizes Amplus Solar’s commitment to innovation and sustainability. Notably, the implementation of robotic cleaning system at Project Jai is projected to reduce the consumption of water for panel cleaning at the plant by up to 50 million liters per year, demonstrating Amplus’ dedication to environmental stewardship.

While known for pioneering rooftop solar solutions in India, the inauguration of this large-scale renewable energy project represents a significant diversification for Amplus Solar, further cementing its position as a pivotal player in India’s renewable energy landscape.

Commenting on this milestone, Mr Sharad Pungalia, MD & CEO of Amplus, stated, “Project Jai is the culmination of our decade-long experience and our futuristic vision for India’s clean energy sector. This project demonstrates our prowess in delivering complex utility-scale projects and In developing RTC and other innovative clean energy solutions that help our large consumer base meet their green energy requirements. I congratulate the team on this historic moment in our organizational journey, setting the stone for another decade of green growth”.

As Amplus Solar celebrates its 10th anniversary this year, the commissioning of the Project Jai in Bikaner heralds a new era of diversification and growth for the company. With a sustained focus on sustainability and innovation, Amplus Solar remains steadfast in its mission to drive the widespread adoption of renewable energy solutions across India.