Tag Bengaluru

Get ready to immerse yourself in the enchanting world of Bollywood music at Mantri Square Mall. located in the heart of Bengaluru’s Malleshwaram. The Divine Soul Bollywood Band is set to deliver an exhilarating mix of the latest hits and timeless classics, ensuring a memorable experience. This event promises an electrifying atmosphere where you can dance to the rhythm of your favorite Bollywood tunes. Join us for an evening filled with joy, energy, and the irresistible charm of Bollywood music that will leave you wanting more.

Where: Mantri Square Mall, Malleswaram, Bengaluru

When: Saturday, July 20, 7.00p.m. onwards.

Entry Fee: Free for All

Bengaluru, India, 19th July 2024 – Abbott, the global healthcare leader, launched its ‘Chakkar Ko Check Kar’ campaign in India to highlight an often-overlooked balance disorder, vertigo, which affects close to 70 million people in India. Vertigo is a condition that can make people feel like the world is spinning around them. Through this campaign, Abbott aims to help people take control of their health and better manage the condition.

To give the world a window into the disorienting reality of vertigo, Abbott kickstarted the campaign through a digital film, which features Bollywood actor and UNICEF India Ambassador, Ayushmann Khurrana. It paints a vivid picture of how vertigo’s sudden spinning episodes can throw life off balance, urging those who resonate with these experiences to take action.

Ayushmann Khurrana, sharing his personal experience with vertigo, said, “Dealing with vertigo has been a challenge, but it taught me the power of resilience. Diagnosed in 2016, every sudden movement made the world spin around me. Amidst demanding film schedules, the constant fear of an impending dizzy spell was daunting. However, finding the right medication and embracing meditation helped me manage my condition completely. While it can feel like a tough condition to manage but it’s crucial to remember that it’s a battle you can win. I hope my journey inspires others to seek the help they need and navigate life with renewed confidence.”

His experience is not uncommon. There are millions suffering from this condition silently and confusing it for a normal chakkar. Getting the right diagnosis and treatment at the right time and making key lifestyle changes is important to manage this condition and stay in control of your health.

Dr Jejoe Karankumar, Medical Director, Abbott India added, “Around 70 million Indians experience vertigo. While this balance disorder can affect people’s quality of life, it can be managed. Abbott aims to simplify the journey of people living with vertigo by raising awareness and empowering them with knowledge and tools that can help recognize signs of the condition, to get timely medical advice and support and live fulfilling lives.”

An integral part of the campaign is the survey conducted by Abbott in collaboration with IQVIA. The survey findings help understand the realities of people living with vertigo in India. This survey was conducted across Mumbai, Delhi, Chennai, Bangalore, and Kolkata, with insights from 1,250 respondents. These included vertigo patients and caregivers as well as people with family members experiencing dizziness and are not yet diagnosed with the condition.

Vertigo: A Significant Struggle

Imagine a world that spins uncontrollably, causing headaches, double vision, and a blackout feeling. This is the reality for those living with vertigo. The Abbott and IQVIA survey sheds light on how this condition impacts people’s lives, personally, and for people around them too.

• Personal Life: Vertigo doesn’t just cause spinning. It has significant impact on personal lives, with 34% cancelling important events, 33% experiencing frequent anger or annoyance, and 26% fearing damage to their relationships with family members.
• Triggers: The leading triggers of vertigo are anxiety or stress (39%), travelling (34%), and changes in weather (30%).
• Symptoms: Each vertigo episode can bring a range of symptoms, including headaches (52%), double vision (43%), a blackout feeling (40%), heaviness in the head (37%), and neck pain (28%).
• Family Life and Travel: Vertigo can affect patients’ abilities to look after their family (23%) and reduces family quality time (23%). It also creates discomfort when using public transport or air travel (19%).

Despite its effects, only 48% of people reporting dizziness get tested for symptoms. On average, vertigo is diagnosed at 38 years of age, with around one fourth of patients experiencing an attack once a month. Certain myths persist around vertigo, with 21% of patients believing that this condition only affects the elderly, and 15% feeling that it is untreatable and contagious. Only half of vertigo patients take medication, despite the far-reaching impact on their personal lives, which can include avoiding to travel in vehicles (34%), and reducing screen time (30%) to minimize the likelihood of a vertigo episode. This data paints a vivid picture of the hidden struggles faced by those living with vertigo.

The survey also uncovered interesting findings Bengaluru specifically. For example, vertigo has a great impact on patients’ professional lives in the region, including affecting concentration resulting in lower performance (31%) and impacting ability to take on more responsibility (22%) as well as career progression (18%). Additionally, vertigo also impacts people’s personal lives in the city: 30% cancel important events, while 35% frequently get angry or annoyed.

BENGALURU, India , July 18, 2024 — DaMENSCH, a pioneer in men’s innerwear & athleisure, has joined forces with Vicky Kaushal to launch a first of its kind music video ad campaign. Centered on the theme “DaMENSCH is a new feeling,” the intelligent campaign establishes that the comfort of wearing a DaMENSCH cannot be explained in words and needs to be felt to be understood.

The video kicks off with upbeat music inspired by the legendary R.D. Burman. However, it progresses with a surprise that one wouldn’t have ever guessed- the lyrics are gibberish. Almost indescribable. Because that’s what comfort with DaMENSCH is. A unique, new feeling that cannot be described in words.

DaMENSCH‘s new campaign also brings a freshness, away from the traditional machismo-led ads that viewers are used to seeing in the innerwear segment. With this, the brand and Vicky Kaushal come together to celebrate comfort, confidence, and self-expression.

Expressing his feelings about this campaign, Vicky Kaushal said,” When the campaign idea was pitched to me, I was very happy to see a fresh and a different approach that represents a new age brand that DaMENSCH is . This new feeling is something you all need to experience to understand what we are trying to say through visuals”

Speaking about the campaign, Anurag Saboo, co-founder of DaMENSCH, said, “Our customers often struggled to describe how amazing they felt in a DaMENSCH, which sparked the idea for this ad. Comfort is an experience that needs to be felt, it is beyond words. Vicky Kaushal, known for his confidence and comfort in his individuality, is the perfect face for this campaign, and we’re thrilled to collaborate with him”

Bengaluru, 11th July 2024: Siemens Healthineers, a leading medical technology company, is proud to announce that the Multix Impact E digital radiography X-ray machine will now be manufactured in India, marking a significant milestone in the company’s commitment to providing better access to care for patients in the country.

According to the Institute for Health Metrics and Evaluation (IHME) 2022 data, Chronic Obstructive Pulmonary Disease (COPD), Tuberculosis (TB), and road injuries continue to be among the leading causes of death in India. An X-ray is one of the primary diagnostic tools instrumental in diagnosing bone fractures in trauma and emergency, anomalies in the chest including infectious diseases like TB and certain tumors.

“This move is a testament to our strong commitment to enhancing patient care and supporting the healthcare needs of the country,” shared Hariharan Subramanian, Managing Director, Siemens Healthcare, Private Limited, marking the inauguration of the facility in Bengaluru. “Our strong focus on local manufacturing and commitment to patient safety underscores our purpose to pioneer healthcare solutions for everyone, everywhere, sustainably.” The Multix Impact E is a floor-mounted system featuring all the necessary tools for easy, intuitive system operation and allows for the detection of anatomical details at low doses radiation, ensuring patient safety and quality healthcare.

Tisha Boatman, Senior Vice President, Global Access to Care, Siemens Healthineers stated, “With the local manufacturing of Multix Impact E digital X-ray, we are making basic healthcare available in low-resource settings in India, thereby building capacities and achieving wider access to care.”

Commercial availability of Multix Impact E, a locally manufactured digital radiography X-ray system for the Indian market, will enhance the general provision of secondary care for which digital X-ray is a crucial requirement. The Multix Impact E will be manufactured in the Bengaluru factory, leveraging several years of experience in local-for-local manufacturing of mobile C-arms, CT, and MRI systems.

Bengaluru, India, 11th July 2024:  South India’s data centre market is on an impressive growth trajectory, with major cities like Chennai, Bangalore, and Hyderabad at the forefront. This surge is supported by substantial government incentives, strategic infrastructure investments, and a rising demand for digital services. The region is poised to play a crucial role in the global data centre landscape, with capacity projected to grow 65% by 2030.

Significant Capacity Expansion

As of now, the combined installed data centre capacity in Chennai, Bangalore, and Hyderabad stands at approximately 200 MW. This foundation is set to be significantly bolstered, with 190 MW currently under construction and an additional 170 MW planned. These developments are expected to increase the total capacity by 80% over the next few years, underscoring the region’s strategic importance in supporting global digital infrastructure.

City-wise Data Centre Dynamics

Chennai is a prime data centre hub due to its strategic coastal location, offering excellent submarine cable connectivity. The city has an installed capacity of 87 MW, with 156 MW under construction and 104 MW planned. The favourable climate and robust power infrastructure make Chennai an attractive destination for data centre investments.

Bangalore, known as the Silicon Valley of India, leverages its strong IT ecosystem. The city currently has an installed capacity of 79 MW, with 10 MW under construction and 26 MW in the planning stages. Bangalore’s technological prowess and availability of skilled workforce are key drivers for its growing data centre market.

Hyderabad is rapidly emerging as a data centre hotspot, thanks to proactive government policies and excellent connectivity. The city has an installed capacity of 47 MW, with 20 MW under construction and 38 MW planned. Hyderabad’s competitive real estate market and robust infrastructure are significant advantages.

Data Centre Market Data – Capacity

Source: Colliers

Government Incentives and Policy Support

State governments in Tamil Nadu, Karnataka, and Telangana have been instrumental in fostering data centre growth through a range of incentives:

Subsidies and Tax Benefits: Substantial subsidies on land acquisition, reduced power tariffs, and significant tax breaks are provided to make South India an attractive destination for data centre investments.

Infrastructure Development: Investment in power and telecommunications infrastructure ensures high-speed, reliable connectivity, a critical component for data centre operations.

Ease of Doing Business: Simplified regulatory frameworks and expedited approval processes reduce bureaucratic hurdles, encouraging swift project initiation and completion.

Dedicated data centre policies introduced by various states provide a clear, structured framework for investors, enhancing the region’s appeal.

Diverse Occupier Landscape

The occupier landscape in Chennai, Bangalore, and Hyderabad is diverse and dynamic. According to recent data, BFSI dominate the market, accounting for nearly 35% of total occupancy. IT firms follow with 30%, while Hyperscalers occupy 20% and other sectors constitute the remaining 15%.

Occupiers are increasingly seeking additional services to optimize their operations, which include:

Managed Services: Comprehensive IT management solutions that enable businesses to focus on core activities.

Security Solutions: Advanced security measures such as encryption, threat detection, and incident response services.

Disaster Recovery: Robust disaster recovery solutions ensuring business continuity in the face of unforeseen events.

Edge Computing: Proximity to end-users to reduce latency and improve service delivery, essential for IoT and real-time data processing.

Competitive Pricing and Service Offerings

The monthly recurring charges for data centres in South India are competitive, ranging between 6,650 – 8,500 INR/kW/Month according to the usage, offering significant value for money given the advanced infrastructure and extensive range of services provided. This competitive landscape ensures continuous upgrades and enhancements by service providers, meeting the evolving needs of occupiers.

Outlook

The outlook for South India’s data centre market in Chennai, Bangalore, and Hyderabad is exceedingly positive. The combination of strategic location, robust government support, and technological advancements positions these cities as pivotal players in the global data centre industry.

Demand for data centres is expected to rise continually, driven by increasing cloud service adoption, digital transformation initiatives by enterprises, and the advent of new technologies such as 5G and IoT.

South India’s data centre market, particularly in Chennai, Bangalore, and Hyderabad, is set for substantial growth, underpinned by significant investments, strategic government incentives, and a diverse occupier base. The competitive pricing, advanced infrastructure, and additional service offerings make these cities attractive destinations for data centre investments. As South India continues to develop its digital infrastructure, it is poised to play a pivotal role in the global data centre market, offering immense opportunities for investors and occupiers alike.

“The anticipated 80% increase in data centre capacity by 2030 across Chennai, Bangalore, and Hyderabad highlights the region’s growing strategic importance in the digital infrastructure ecosystem, with sustained government support and continuous infrastructure development, South India is set to become a global data centre hub.”, says Swapnil Anil, Executive Director & Head of Advisory Services, India

Chennai Data Centre Ecosystem

Of the South Indian State, Tamil Nadu State witnessed a positive growth and revive & contribute heavily to India’s GDP. It’s evident that the Southern metropolis always has been a ‘favourable’ investment destination and has a significant proportion of investment proposals of INR 50,000+ crores.

Comparing the industrial ecosystem, Tamil Nadu, always been leading in automobile, wind energy, and electronics hardware manufacturing sector. However, in the recent years, due to the stable system of governance and its related policies, Tamil Nadu, especially the Chennai region has emerged as a data centre capital of India.

The government is also proactive in providing 24/7 power facilities, followed by land, connectivity infrastructure for DCs, fiscal & non-fiscal incentives, and promoting renewable energy use for everyday management. This has created a supportive technology bubble and also acts as a catalyst for industries to set up data centres.

It has to be noted that Tamil Nadu was the 1st state to come up with ethical AI, blockchain, and cyber security policies in the country. And Chennai is already geared up to provide a ready, built and well-established supply chain for data centres to integrate scale within the region.

Chennai is a prime data centre hub due to its strategic coastal location, offering excellent submarine cable connectivity. The favourable climate and robust power infrastructure make Chennai an attractive destination for data centre investments. Chennai is also a popular option for DC colocation firms since it provides an abundance of experienced IT & Non-IT talent, along with strong manufacturing bases and lower setup costs. As a whole, the city is an excellent location for data centers because of its attractive cost structure and ample land supply.

“Chennai data centre market exemplifies the city’s commitment to technological advancement and innovation. With its strategic coastal location, robust government initiatives with respect to the Industrial Policies and sector specific Policy for Data Center including the Cyber Security, followed by the support infrastructure facilities and availability of developable land parcels at low cost, Chennai will continue to drive and lead the digital economy forward.”, said Umakanth Y, Senior Director, Advisory Services, Colliers India.

Bengaluru, India – July 11, 2024 – Medtronic, the global leader in medical technology, inaugurated its new Global IT (GIT) Center at Medtronic Engineering & Innovation Center (MEIC), Hyderabad in the presence of Honorable Minister for IT, Industries and Commerce, Government of Telangana, Shri D Sridhar Babu and US Consul General, Ms. Jennifer Larson, along with senior leaders from Medtronic including Ms. Rashmi Kumar, SVP and CIO Global, Medtronic, and Mr. Divya Prakash Joshi, Vice President & Site Leader of MEIC.

Global IT Center is Medtronic’s first large-scale IT center outside of US. The company will be investing $60 Mn which will support in creating 300 new job opportunities over the next 3-5 years. GIT will focus on cutting-edge technologies such as Cloud Engineering, Data Platforms, Digital Health applications, Hyper automation, and AI/ML. The talent competencies include Cloud & DevOps, Advanced Analytics & Visualization, Integration & Middleware, Full Stack Engineering, Robotic Process Automation, Process & Data Mining, Agile Program Management, Process Excellence & Business Analysis, along with IT Security & Compliance. Through these competencies, the new GIT center will boost productivity, manage risks, and drive growth in healthcare technology.

Speaking at the inauguration event, Honorable Minister for IT, Industries and Commerce, Government of Telangana, Shri D Sridhar Babu said, “I am delighted that Medtronic is growing by leaps and bounds from Hyderabad. I had the pleasure of inaugurating MEIC’s expanded R&D facility in February this year and during this time, I discussed about various other opportunities. In about 5 months, we are here to launch Medtronic’s new global IT Center. Reputed firms like Medtronic choosing to double down on their existing investments in Telangana underscores the vibrant innovation ecosystem that is being nurtured here. This is a glowing testament to the government’s progressive policies. We remain committed to the growth of medical technologies sector, and we will extend every support from the Government.”

Rashmi Kumar, SVP and CIO, Medtronic said “Innovation is at the heart of every transformative technology at Medtronic. The inauguration of our Global IT Center in India is a testament to our commitment to strengthening global technology capabilities. We extend our gratitude to the Government of Telangana for fostering a vibrant innovation ecosystem. The launch of the center reiterates our commitment to Indian market and propels us towards impacting more patient lives and advancing healthcare technology. India offers one of the best talent pools for IT we look forward to leveraging the skillset to support the growth of healthcare technology thereby positively impacting patient lives.“

Speaking on the occasion, Mr. Divya Joshi, Vice President & MEIC Site Leader, Medtronic, said, “The inauguration of the GIT center at the MEIC facility in Hyderabad marks a transformative step for Medtronic. By establishing our first large scale IT capability center outside the US, we are not only investing in advanced technologies but also in the rich talent pool that India offers. This new center will be pivotal in supporting innovations, enhancing our global IT capabilities, and delivering top-notch tech-driven healthcare solutions. We are excited to contribute to Hyderabad’s dynamic tech ecosystem.”

Bengaluru –10th July 2024– TimBuckDo, pioneers in the student gig economy, is thrilled to announce that it has successfully raised seed funding of INR 2,00,00,000 (Two Crores) from two illustrious US-based angel investors: Morton Meyerson and Nandkishore (Andy) Kalambi. Founded by Mythri Kumar and Apoorv Sharma Prasad, TimBuckDo is an innovative platform designed to connect students with part-time gig opportunities, bridging the gap between students seeking flexible employment and businesses in need of part-time support. By leveraging AI & technology to match students with suitable gigs, TimBuckDo aims to empower the next generation of workers with opportunities that fit their schedules and skill sets.

“With over 50% of India’s population under the age of 25, it’s crucial to harness their potential and empower them relevant opportunities. The part-time job market is experiencing significant growth, with a 30% increase in opportunities over the past year alone. At TimBuckDo, we are committed to provide flexible and meaningful employment to the younger generation and thereby drive economic growth,” said Mythri Kumar & Apoorv Sharma Prasad, Co-founders of TimBuckDo. Thrilled to have Nandkishore Kalambi and Morton Meyerson on board as investors and advisors in their journey, they further added, “Their belief in our vision of creating a dynamic gig portal for student part-timers underscores the growing importance of flexible work solutions in the modern economy. With their support, we are well-positioned to enhance our platform and expand our reach to students across the country.”

Nandkishore Kalambi, with over 25 years of executive leadership experience in managing enterprise technology solutions across multiple geographies, brings a proven track record of introducing and rapidly scaling new technologies with industry giants like Siemens, SAP, and Dassault Systèmes. Currently, through Kanu Ventures, Andy focuses on applying his knowledge and expertise to the application of AI for Nature and Business.

“Future of Work is gig, and TimBuckDo is building the next generation workforce for the world by catching them young and providing real-world work exposure through various part-time jobs,” said Nandkishore Kalambi, whose lifelong passion for inclusive innovation aligns perfectly with TimBuckDo’s mission to create a flexible and supportive work environment for students.

Joining Kalambi is Morton Meyerson, former Chief Technology Officer at General Motors and retired President and Vice-Chairman of Electronic Data Systems (EDS). He was also the Chair, President and CEO of Perot Systems for 5 years when he grew the revenue 10x and transformed it into a highly profitable operation. Meyerson has had a long association with India having set up HCL-Perot and grew it rapidly from inception to over 13,000 employees before selling the business entirely to HCL. He played a pivotal role in mentoring Michael Dell during the early years of Dell Computer and was a principal investor and mentor to Mark Cuban at Broadcast.com.

“I believe in the idea of TimBuckDo and I am confident it will become one of my most promising investments,” said Morton Meyerson. “The platform has the potential to transform the gig economy for students and create significant opportunities. I am also delighted to team with Andy for our first joint investment in India.”

Bengaluru July ,2024: Purplle Group, one of India’s leading omnichannel beauty platforms, announces the closing of a ₹1000cr funding round led by a wholly owned subsidiary of the Abu Dhabi Investment Authority (ADIA), along with participation from other investors, which includes a combination of primary and secondary shares. Strategically expanding its offline presence, Purplle Group retails its six direct-to-consumer private brands including, Faces Canada, Alps Goodness, Good Vibes, Carmesi, DermDoc, and Ny Bae across multiple touchpoints. The brand has over 1500 assisted and 40000+ touchpoints pan India. The company serves the beauty needs of customers in tier 2/3+ micro-markets, expanding beyond metro cities.

Speaking on the investment Manish Taneja, Co-Founder & CEO at Purplle said, “It is our mission to democratize beauty and make it accessible to all, and while we have reached many beauty enthusiasts across India, we still have a long way to go. We will constantly innovate and leverage our technology and data capabilities to provide our customers with the best omnichannel experience. In increasing its shareholding in Purplle, ADIA has continued to support us as we pursue our vision of building a sustainable and profitable business.”

Purplle is one of the fastest-growing retailers in the Beauty and Personal Care (BPC) segment, having grown its GMV by ~4x over the last 3 years. Purplle is operationally profitable and expects to grow its online platform faster than the industry while scaling offline stores and improving profitability.

Alongside this funding round, Purplle has also announced its largest-ever Employee Stock Ownership Plan (ESOP) liquidity program and will offer liquidity of ₹50cr to its employees. Purplle has granted ESOPs to 320 employees up to date, and 85 of them have liquidated ESOPs worth ₹75cr over three buyback programs. In the largest-ever ESOP liquidity program announced, 26% of its beneficiaries are women.

Bengaluru, 10 July, 2024: Hyderabad based leading socks and cotton products manufacturing company Filatex Fashions Ltd has approved 1:5 (5-for-1) stock split to enhance the liquidity in the capital market and widen shareholder base.

Board of directors of the company in the meeting held of 7 June 2024 has approved sub-division of existing 1 Equity Share of face value of Rs. 5 each fully paid up into 5 Equity Shares of Rs. 1 each fully paid up. Post approval of the resolution for sub-division by the shareholders at Extra Ordinary General Meeting (EGM), the record date for the purpose of subdivision of equity shares will be announced. Post sub-division, share capital of the company will stand at Rs. 833.40 crore divided into 8,33,40,72,725 equity shares of Rs. 1 each. The Authorized Share Capital of the Company is Rs. 850 crore.

EGM of the Company for the FY 2024-25 is scheduled to be held on Monday. 15 July, 2024 at 11:00 AM through Video Conferencing or Other Audio Visual Means (OAVM).

Company’s shares are recently admitted to dealings on NSE with a code FILATFASH w.e.f 6 May 2024. Company’s shares were listed on Bombay Stock Exchange since 23 September 1996 and will continue to be listed on the exchange with the scrip code 532022. Company has also appointed Mr. Yash Sethia as Chief Financial Officer (CFO) of the Company from 30th March 2024.

Company board in the meeting held on 6 July has approved to set up a wholly owned subsidiary for export of textile garments and fabrics in Delhi reason being Delhi is a source for readymade goods which can be easily supplied to overseas market. Additionally, board also approved proposal to set up a Corporate Office in Mumbai for business expansion and planning to appoint senior managerial personnel like CEO, head of compliance etc. which will help the company in its smooth business expansion in global markets.

Incorporated in 1995, Filatex Fashions Ltd specializes in socks manufacturing and cotton products with 25 socks-knitting machines with the latest finishing and setting machines, using infrared technology for the first time in India. Filatex Fashions has gained rich experience in the European and Indian market. With manufacturing plants located in Hyderabad, Telangana, the company offers private label services and the option to use its branded label for socks. Company’s clients include renowned brands like FILA, Sergio Tacchini, Adidas, Walt Disney and many other top labels of the fashion world.

Company has a State of art manufacturing unit located at Hyderabad having ultra modern, latest machinery from Korea and Italy with In-house R&D facilities, is on Growth path with various new orders from Leading Brands. Company has a modern state-of-the-art plant spread over 4 acres capable of producing 8.64 million pairs of socks per annum. The company further plans to ramp up production capacity upto 14 million pairs of socks per annum.

Bengaluru-based Zinka Logistics Solutions Limited, the country’s largest digital platform for truck operators in fiscal 2024, has filed its draft red herring prospectus (DRHP) with capital market regulator Securities and Exchange Board of India (SEBI) to mop up funds through an initial public offering (IPO).

The IPO, with a face value of ₹1 each, is a mix of fresh issuance of Rs 550 crore and an offer for sale of up to 21.61 million equity shares by promoters and Investor Selling Shareholders. The offer also includes a reservation for a subscription by eligible employees and a discount is being offered to eligible employees bidding in the employee reservation portion.

The offer for sale consists of up to 22.19 lakh equity shares by Rajesh Kumar Naidu Yabaji, up to 11.09 lakh equity shares by Chanakya Hridaya, up to 11.09 lakh equity shares by Ramasubramanian Balasubramaniam, up to 43.09 lakh by Accel India IV (Mauritius) Limited, up to 39.74 lakh equity shares by Quickroutes International Private Limited, up to 17.12 lakh equity shares by International Finance Corporation, 13.24 lakh equity shares by Sands Capital Private Growth II Limited, up to 9.27 lakh equity shares by GSAM Holdings LLC, up to 9.23 lakh equity shares by Accel Growth Fund V L.P., up to 8.83 lakh equity shares by Internet Fund III Pte Ltd.

The company, in consultation with the book-running lead manager, may consider a Pre-IPO placement shall not exceed 20% of the size of the fresh issue. If such placement is completed, the fresh issue size will be reduced.

The offer is being made through the book-building process, wherein not less than 75% of the offer shall be available for allocation on a proportionate basis to qualified institutional buyers, not more than 15% of the offer shall be available for allocation to non-institutional bidders, and not more than 10% of the offer shall be available for allocation to retail individual bidders.

The proceeds from its fresh issuance to the extent of Rs 200 crore will be utilized for funding towards sales and marketing costs, Rs 140 crore for investment in Blackbuck Finserve Private Limited for financing the augmentation of its capital base to meet its future capital requirements, and Rs 75 crore for funding of expenditure in relation to product development and general corporate purposes.

Zinka Logistics is dedicated to transforming the trucking industry in India by digitally empowering truck operators to manage their businesses and increase their earnings. The company’s innovative BlackBuck app serves as a comprehensive platform, providing solutions for payments, telematics, load management, and vehicle financing.

As of March 31, 2024, Zinka Logistics had a significant presence, employing 1,783 permanent employees and engaging 3,638 contract workers. By Fiscal 2024, the company had grown its fleet to 963,345 truck operators, up from 482,446 in Fiscal 2022, representing 27.52% of India’s truck operators. The company’s extensive reach is reflected in its network of 9,395 touchpoints across 628 districts, covering 80% of India’s districts, including all major transportation hubs and 75% of the toll plaza network. This extensive network helps the company onboard and service customers efficiently.

The BlackBuck app, central to Zinka Logistics’ offerings, empowers truck operators to manage various aspects of their operations. Through the app, operators can handle payments for tolling and fueling, monitor drivers and fleets using telematics, find loads on the marketplace, and access financing for purchasing used vehicles. In Fiscal 2024, the app saw robust engagement, with monthly active truck operators using it for over 16.18 days per month and spending an average of 39.56 minutes daily on the platform.

Zinka Logistics processed a gross transaction value (GTV) of ₹17,396.19 crore in payments for Fiscal 2024. The payments platform addresses significant expenses for truck operators, such as tolls and fuel. The company partners with FASTag banks and multiple oil marketing companies (OMCs) to offer efficient and secure tolling and fueling solutions, generating revenue through commission margins based on transaction values.

Telematics services provided by Zinka Logistics offer real-time visibility into fleet movements, route optimization, and enhanced fuel management, aiming to improve efficiency and reduce costs. The company had 356,050 average monthly active telematics devices in Fiscal 2024, making it one of the largest players in the vehicle tracking solutions segment for the trucking industry in India.

The loads marketplace within the app helps truck operators find loads to fill their empty capacities or secure better prices. In Fiscal 2024, there were 2.12 million load postings, enabling 256,685 truck operators to obtain loads. This feature significantly enhances the operational efficiency and profitability of truck operators.

Additionally, Zinka Logistics offers vehicle financing solutions, enabling truck operators to purchase used commercial vehicles or obtain financing on existing ones. By March 31, 2024, the company had facilitated 4,035 loans amounting to ₹196.79 crore. Revenue from this segment is derived from loan service fees and other charges related to loan disbursal and collections.

In Fiscal 2024, Zinka Logistics had 259,011 monthly transacting users utilizing at least two services, facilitating over 413.34 million transactions. This reflects the company’s success in providing integrated solutions that cater to various needs of truck operators, enhancing their business operations and profitability.
Through a digital-led marketing strategy, Zinka Logistics effectively raises awareness of its solutions and brand among customers. The company’s robust infrastructure and innovative solutions have positioned it as a leader in the digital transformation of India’s trucking sector, driving growth and efficiency for truck operators across the country.

Zinka Logistics’ consolidated revenue from continuing operations increased by 69.01% to ₹296.92 crore in Fiscal 2024 from ₹175.68 crore in Fiscal 2023, primarily due to an increase in its average monthly transacting truck operators, which led to an increase in its commission income, subscription fees, and service fees.

Axis Capital Limited, Morgan Stanley India Company Limited, JM Financial Limited, and IIFL Securities Limited are the book-running lead managers and KFin Technologies Limited is the registrar of the offer. The equity shares are proposed to be listed on BSE and NSE.