InnoPack Pharma Confex takes Indian Pharma Packaging to the next level

L-R: Mr Rahul Deshpande, Group Director, Informa Markets in India; Mr. Yogesh Mudras, Managing Director, Informa Markets, India

Mumbai, 9^th June, 2022 (TGN): CPhI Conferences’  11^th Annual Innopack Pharma Confex presented by West Pharmaceutical Services commenced today with the focus on strengthening the pharmaceutical packaging industry. The two-day pharma confex  (9^th and 10^th June 2022) held at the Sahara Star, Mumbai was marked by the presence of key dignitaries including Dr. Hemant G Koshia, Commissioner, Food & Drugs Control Administration, Gujarat State, INDIA; CG Mr. Bart de Jong, Consulate General of the Kingdom of The Netherlands; Mr. K. G. Ananthakrishnan, Director General, OPPI; AVPS Chakravarthi Global Ambassador, WPO; Mr. Yogesh Mudras, Managing Director, Informa Markets in India and Mr Ranjith Paul, Group Director, Informa Markets in India. The show, which has emerged as one of India’s largest pharma packaging industry events, is recognized as a flagship event of the packaging sector in India by relevant associations and the industry at large.

The first day of the Innopack Pharma Confex, highlighted that innovation and sustainability are the need of the hour for the development of the Pharma packaging industry. With an excellent year on year offering to the Pharma Packaging industry, there was consistency in terms of participation with over 40 exhibitors, 40 speakers & trainers, at the Confex and over 100 nominations for the awards. The event witnessed the presence of various Policy Makers, Industry Captains from Associations, and the participation of leaders from top pharma and biopharma companies. Some of the key delegates include representations from companies such as Aurobindo, Dr. Reddy’s. Zydus, Piramal, Wockhardt, Glenmark, Cipla, GSK, Alembic Pharma, Reliance Lifesciences, Macleods Pharma, Sanofi, Indoco Remedies, and J&J, among others.  

Speaking on the occasion of the 11^th Annual InnoPack Pharma Confex, Mr. Yogesh Mudras, Managing Director, Informa Markets in India said, “The pharmaceutical industry anticipates lucrative growth with the development of various drugs and medication, wherein it will obviously give a boost to the packaging industry. The government reforms and surge in demand have kept the pharmaceutical packaging industry on a strong growth trajectory. The pharmaceutical packaging market valued at $1.4 Bn is expected to grow at a rate of 8.10% CAGR during 2022-2027 and 7.54% CAGR till 2030 and reach the market size of $3 Bn. Innopack Pharma Confex is an important platform for the pharma packaging industry of the Indian sub-continent as a sourcing ground for the Pharma industry’s packaging requirements.”

“Nowadays, the modern-day healthcare professional and individual customer demand convenient as well as sustainable product and packaging. Curated with the theme ‘Innovation and Sustainability Paving the Way Forward’, the 11th Annual Innopack Pharma Confex speaks about the latest information on ground-breaking research, trends, regulations update, display of innovations and addressed solutions to sustainability challenges”, he further added.

The Indian pharmaceutical export till January 2021 stood at around US$ 20.14 Bn and India’s pharmaceutical market value size in 2020 was around US$ 130 Bn. The government is also spending an ample amount on the healthcare sector, propelling the growth of the Indian pharmaceutical packaging market. There is positive sentiment and business confidence amongst the stakeholders with the introduction of various schemes and rebates by the government to encourage domestic manufacturing and achieve an Atmanirbhar Bharat. In line with the government’s vision and growing pharmaceutical industry, the show offered a unique combination of an exhibition floor, semi-scientific conferences and a dedicated spotlight for innovations allowing the pharma packaging fraternity to discover the latest trends and revolutionary technologies transforming the packaging industry and giving it a strong push to reach US $3 Bn by 2030. It also included Packaging Workshops, a Packaging Leaders Round Table session, a start-up zone and the most celebrated 7^th edition of the India Packaging Awards.

The rubber industry is expected to double its exports by 2025

Left-Right: Mr. Shashi Singh, Sr. VP AIRIA, Mr. Sawar Dhanania, President AIRIA, Mr. Ramesh Holiachi, JDGFT, Mumbai, Mr.Vikram Makar Ex-President AIRIA, Mr. Vinod Bansal, Chairman Export Committee

MUMBAI, JUNE 04, 2022 (TGN): All India Rubber Industries Association (AIRIA) established in 1945, an apex body for rubber industries in India. AIRIA organised an event for exchanging ideas and suggestions for the smooth functioning of the rubber industry in next coming years. The meeting comprises Dr. Sawar Dhanania President, Mr. Shashi Singh, Senior Vice President, Mr. Vikram Makar Immediate past President, Mr Vinod Bansal, Chairman Export Committee accompanied by 50 important non tyre exporters of goods.

Joint Director General of Foreign Trade Mr.Ramesh Holiachi was the chief guest at the event held yesterday on 3^rd June at ITC Grand Maratha, Mumbai.

 

The event was attended by dignitaries from MSMEs and SMEs across India. The meeting aimed to highlight the problems and the potential of the Rubber Industry in India. Rubber industry has a huge potential for exporters as India is a labour-intensive market. Due to Covid-19 and Ukraine war crisis there has been a host of problems like availability of raw materials, increase in shipping prices, and challenges to the cash flow. India has the highest cost in logistics, i.e 17-18%. With the National Logistics Policy (NLP) announced the total logistics amount paid by the exporter will be reduced to 6-7%. MSME criteria should be increased from 250 cr in order to keep the future of growth intact.

 

The 2 billion markets of non tyre rubber sector aim to double their exports by 2025.

 

Mr. Shashi Singh, Senior Vice President of AIRIA said, “Indian Institute of Foreign Trade (IIFT) and the Export Promotion Councils should educate MSMEs on export procedures, documentation requirements, and the finer points of export. We expect IIFT & the Export Promotion Councils should share export market intelligence and arrange specialist meets. It will be beneficial to individuals who are new to exporting and wish to understand how to become export-ready.

 

Dr. Sawar Dhanania, President said “The global market for rubber products which is estimated at around US$ 212 billion today is expected to also grow by 2025. Because MSMEs are so important to India's economy and commerce, we believe that India's free trade agreements (FTAs) should include provisions to address the special concerns, demands, and barriers that MSMEs may face while doing business in foreign markets. Accordingly, we urge the Government to take steps to ensure that the terms in our FTAs benefit the MSMEs for internalization, with trade facilitation mainstreamed in MSME development goals. SME can work world-wide by creating a level playing export infrastructure for MSMEs, improving their financing conditions, educating them about suitable marketing channels, Facilitate their working with Trading Companies “

 

Answering the query raised by the members on facing the difficulties and expansion of the rubber industry at every stage Mr.Holiachi assured to solve the complexity faced by the industry .“In 2019 to promote trade, the central government along with state and its partners is promoting export. Every district has an export hub now. In the last 1-1.5 years Government released 55000 Crores under MEIS incentives as a reward. There are 13 trade agreements under which 12 are already implemented. Under India & UAE, 97% of Indian products exported get the direct benefit. The India & Australia agreement is yet to be notified by the Indian Government. The Australian government has provided geo-duty concession to India.91-97% of Indian products will get duty concession in the Australian market. Footwear, Pharmaceuticals, and textile industry in India to benefit from this agreement,” said Mr. Ramesh Holiachi, Joint Director General of Foreign Trade of Mumbai.Ends

 

About All India Rubber Industries Association

All India Rubber Industries Association is a not for profit organisation. Serving the rubber industry and trade with objectives of safeguarding and promoting the interests of the industry. AIRIA was founded in 1945 to protect the interest of people of industry.

Jitendra Dixit’s Valley of Red Snow chronicles the making of ‘New Kashmir’

Valley of Red Snow: Kashmir Beyond 370

NATIONAL, 3rd JUNE, 2022 (TGN): Valley of Red Snow: Kashmir Beyond 370 looks at the developments in the Kashmir Valley post the abrogation of Article 370 of the Indian constitution and the bifurcation of the state. Authored by the senior broadcast journalist Jitendra Dixit, the book was recently launched at the Mumbai Press Club by veteran film-maker and activist Ashoke Pandit and the Press Club’s chairman Gurbir Singh, who was part of the three members’ fact-finding committee appointed by the Press Council of India to investigate the complaints of atrocities against Kashmiri journalists.

On 5 August 2019, Article 370 of the Indian constitution, which gave Jammu & Kashmir (J&K) special status, was abrogated. J&K became a union territory. The Ladakh region was separated and made an independent union territory. These landmark decisions in the history of Kashmir were preceded by a series of political and social events over the seven decades since Independence. What forces led to the abrogation? What were its consequences on the people of J&K? What was their reaction to it? What does the future hold?

Valley of Red Snow seeks to answer these questions and also presents an unprejudiced, non-judgemental and comprehensive story of how Kashmir is changing after one of the biggest government decisions in the history of independent India.

This book narrates the events from the years preceding the historic decisions, and the immediate situation in Kashmir at the time of the abrogation and presents the voices of various stakeholders in the Valley with extensive interviews. It chronicles the momentous events of the Valley in the last decade as witnessed by the author and offers insights on ‘New Kashmir’.

There is a comprehensive chapter on Kashmiri Pandits which enunciates their hopes, aspirations, expectations and fears. The author reached out to various sets of Kashmiri Pandits varying from those staying in refugee camps at Jammu, those resettled in government colonies in Kashmir Valley, and those who have relocated to other parts of India as well as those who didn’t leave the Valley during the 1990’s exodus.

Published by Rupa Publications India, this is one of the first books to narrate the developments in Kashmir after the decisions of August 2019.

Jitendra Dixit, the author of the book

ABOUT THE AUTHOR:

Jitendra Dixit, the author of the book is the West India editor of ABP Network and specializes in reporting on conflicts and calamities. He has filed ground reports of every momentous event in the Valley during the past decade which includes the 2014 assembly elections, the formation of the PDP-BJP government, the Pulwama attack and the abrogation of Article 370. Valley of Red Snow is his fourth book.

For the first time School Teachers to be trained by Tech Avant-Garde on Best Strategies from Remote, Blended and Hybrid Learning and The Free Course for some batches starts 18 May to 11 June 2022

Ali Sait, CEO, Tech Avant-Garde

NATIONAL, 11 MAY,  2022 (TGN): Tech Avant-Garde, the Global Partner of Microsoft, in association with Microsoft Education, is conducting a training program for school leaders for the first time on new paradigms of learning – Remote, Blended and Hybrid Learning.

This training program will cover the following topics: Develop your vision and build a roadmap to get there; Prepare your Stakeholders; Develop model schools; Stay connected; and Real time case studies.

The course is free for the batches listed below and participation is only by invitation. The program will be conducted on Knowledge L’avenir platform.

Talking about the training program for School Leaders and the role of technology, Ali Sait, CEO, Tech Avant-Garde

Talking about the training program for School Leaders and the role of technology, Ali Sait, CEO, Tech Avant-Garde, said, “The training program, specifically for School Leaders, is conducted for the first time in the world on Digital Transformation in Education. The School Leaders who attend this program will get certified and the schools will become eligible for two sessions of advisory on Digital Transformation and Holistic Learning within 2 months of the program. We are anticipating 12000 Heads of Schools to participant in this training program”.

The dates of the trainings will be as follows

•               Curtain Raiser Wednesday 18 May 2022 at 7.30 PM  IST 

•               Batch 1 Thursday 19th May 2022 - Friday 20th May 2022

•               Batch 2 Tuesday 24th May 2022 - Wednesday 25th May 2022

•               Batch 3 Thursday 2nd Jun 2022 - Friday 3rd Jun 2022

•               Batch 4 Friday 10th Jun 2022 - Saturday 11th June

Digital Transformation and its impact on Education

Digital transformation is an indisputable force revolutionizing our industries, reinventing our products, redefining our services, and reshaping the way we live and work. Its impact demands a change in schools and teaching practice. It shows how emerging technologies, including analytics and artificial intelligence, deliver far greater understanding of student capabilities and support new approaches to teaching and learning.

Schools around the world quickly transformed into online schools when the pandemic hit, but as students and teachers are returning to the physical space, it is the time to see this as an exciting opportunity to fundamentally change the lives of children and shift the trajectory of the community to re-think the school system.

Today’s students need real-world skills to thrive in the not-too-distant future. They must develop qualities like critical thinking, collaboration, creativity, self-awareness, self-management, responsible decision-making, and the ability to construct complex solutions. This is true regardless of subject area. Complex skills are as important for artistic, service, and human-oriented professions as they are for more scientific, technological, or industrial employment.

Professional development for School leaders

Highest success of adoption among the teacher begins with the leadership team as they adopt a growth mindset, exhibit a personal culture of learning, and leverage modern technologies to support their collaboration and communications. They must reach beyond their institution’s walls to work with other educational systems, schools and communities and consider the successes of others to develop their own methodologies. In the process, they practice a principle of distributed leadership, where they share responsibilities across their organization and empower others. A learning leader focuses on what their teachers know and educating them in their craft so that they can better educate their students. They use data to assess how their students and teachers are performing and create a collegial environment where teachers trust that they can learn from one another.

Please click on the following link for Registration - https://forms.office.com/r/yDg4RJBq1b .  write to tagconnect@t-a-g.co .

About Tech Avant-Garde:

Tech Avant-Garde (TAG) is India’s largest Solution Provider in the education segment, supporting all genre of institutes, ranging from K-12 schools to Universities. TAG is a part of the Accelerator program of Microsoft and has been certified as a Global Trainer for Microsoft in Education. TAG won the award for the Best Worldwide Training Partner of Microsoft Asia region. TAG, as a co-sell partner and ISV of Microsoft, has implemented the Digital Transformation and Holistic Learning program to help educational institutions to navigate from physical classrooms to digital classrooms. Some of the products and solutions of Tech Avant-Garde include Lycee-Cyber Academe, an ERP Campus Management solution, Efeeonline, an Online Multimode Fee payment solution for educational institutions which is connected to the Bharat Bill Payment System developed by NPCI. TAG also works in learning knowledge enhancement of educators through Knowledge L’avenir, the largest social learning platform for teachers, and Knowledge Key Foundation, to bring state-of-the-art technology and tools to aid institutions and teachers to enhance their digital teaching and learning skills.

About Knowledge L’avenir:

Knowledge L’avenir is the largest Social Learning Platform for educators. To ensure that the teacher is not ill equipped in the 21^st century classroom and is prepared for a hybrid learning ecosystem, the platform works seamlessly and tirelessly to educate, train and empower teachers. Knowledge L’avenir platform creates the learning opportunities for the educators to stay abreast with Knowledge Age learning tools, latest Teaching Learning Technology and the Futuristic Teaching Pedagogy. Knowledge L’avenir conducts various programs viz., Knowledge L’avenir Conclaves, L’avenir Forums, TAG Talks, Black Fridays, that help the education segment to be an active player in the digitally transformed learning system. Over the years Knowledge L’avenir has trained over 1,50,000 teachers across the country from different genre of schools.

For more information:  https://www.motifindia.in/

KONE India announces the World’s Largest Passenger Elevator at Jio World Centre BKC

Mr Amit Gossain, Managing Director, KONE Elevators

L-R: Mr. Rajmal Nahar, President, Reliance Industries Limited with Mr Amit Gossain, Managing Director, KONE Elevators India

– Jio World Centre is home to 188 world-class elevators and escalators installed by KONE

– KONE India displayed its ground-breaking innovations at the IDAC Expo as Title Sponsor of the Green Pavilion

 – World’s largest 16 Ton, 5-Stop Elevator installed by Kone Elevators at the Jio World Centre (JWC) BKC, Mumbai.

MUMBAI, MAY 05, 2022 (TGN): KONE Elevators India, a fully owned subsidiary of KONE Corporation, a global leader in the elevator and escalator industry, announced its world’s largest passenger elevator today during a press conference at Jio World Centre, BKC, Mumbai.

The world’s largest elevator is a pure engineering marvel. Spread over a floor area of 25.78 sq meters, this 16-ton, 5-stop elevator was carefully designed, built and tested from the most optimum people flow analysis, with high quality and safety aspects built in.

”What’s next? How can we make our elevators and escalators smarter, smoother, safer and more intuitive? These are the questions we constantly ask ourselves. And it’s this curiosity, that leads us to innovate and offer sustainable products and break-through innovations that go the next level in making the buildings safer, smarter and more intelligent,” said Amit Gossain, Managing Director, KONE Elevators India during the press conference, in Mumbai.

”We are pleased to announce that the world’s largest passenger elevator is by KONE, and it is in India! At KONE, we pride ourselves in offering custom-built solutions for unique projects. Besides our KONE India team, the KONE Global team of Major Projects experts collaborated with us to design and deliver this most challenging and complex project. We are always up for the challenge; be it in size, speed or in complexity, each project needs careful planning and top-notch project management skills. Together with our customers, not only we innovate and create solutions that users appreciate, but also create an experience that they can’t find anywhere else,” he further added.

Designed as a centerpiece of the collaboration-focused design, the elevator provides visitors a glimpse into the expansive world of Jio World Centre, BKC, which is India’s new landmark business and cultural destination, located in the heart of Mumbai.

While at the expo, it was incredible to watch a seamless and safe people flow with 188 world-class elevators and escalators installed by KONE at the Jio World Centre, and each product is a masterpiece in itself.

KONE India also participated at the IDAC Expo 2022 as Title Sponsor of the Green Pavilion, where it presented its ground-breaking innovations. The visitors took a look at some behind-the-scene thinking and some state-of-the-art tech-led innovations that KONE is spearheading in the mobility industry.

So, what did the visitors experience:

• Energy efficient solutions for greener buildings: such as the regenerative drive, standby solutions, and the revolutionary KONE UltraRope® high-rise hoisting technology, which can cut the energy consumption of, for example, a 500-meter elevator ride, by up to 15%
• Advanced People Flow solutions for smart building experience: Touchless signalization, Car Operating Panel & Landing call station, QR Code based elevator call features
• KONE 24/7 Connected Services for intelligent predictive maintenance: connects elevators and escalators to KONE’s cloud and uses artificial intelligence-based analytics to identify any potential issues before they cause problems
• Elevator integrated service robots for smart facility management: KONE is the first one in elevator industry to open its digital platform and APIs to the customers. This collaboration creates limitless possibilities such as touchless Elevator Call API, Service Robot API, Equipment Status API, Service Info API and many more.
• KONE DX Class Series: the world’s first Digitally Connected Elevator Series that creates a completely new kind of user experience by adding smart building solutions and services that make life even easier and more convenient for users.

About KONE: At KONE, our mission is to improve the flow of urban life. As a global leader in the elevator and escalator industry, KONE provides elevators, escalators and automatic building doors, as well as solutions for maintenance and modernization to add value to buildings throughout their life cycle. Through more effective People Flow®, we make people’s journeys safe, convenient and reliable, in taller, smarter buildings. In 2021, KONE had annual sales of EUR 10.5 billion, and at the end of the year over 60,000 employees. KONE class B shares are listed on the Nasdaq Helsinki Ltd. in Finland.
www.kone.com

About KONE India: KONE’s presence in India dates back to 1984 and today it is the leading elevator company in India. Based in Chennai, KONE India serves customers all over the country through its 50+ branches and provides sustainable People Flow™ solutions for India’s rapidly growing cities. It employs 5000+ people in the country.  
KONE’s production unit in Tamil Nadu near Chennai produces elevators for the Indian market as well as for Bangladesh, Bhutan, Nepal, and Sri Lanka. It also has three training centers in Chennai, Gurgaon & Pune, where KONE’s installation engineers and field mechanics are trained to meet KONE India’s strong reputation for high quality and uncompromised safety, as well as the expectations of Indian customers when installing and maintaining elevators and escalators. KONE’s global technology and engineering center in Chennai and Pune, is one of the seven global R&D centers, and is a testing and research hub, which supports the latest technology and development of future KONE solutions. For more information, please visit www.kone.in

Delhivery Limited’s initial public offer to open on May 11, 2022 and Price Band fixed at Rs 462 to Rs 487 per Equity Share

Mr Sahil Barua, CEO and Co Founder, Delhivery

MUMBAI, THURSDAY, 5th MAY, 2022 (TGN): Delhivery Limited (“Delhivery” or the “Company”), plans to open its initial public offering (the “Offer”) on May 11, 2022. The Anchor Investor Bid/Offer Period is one Working Day prior to Bid/Offer Opening Date, that is, May 10, 2022. 

The Price Band of the Offer has been fixed at ₹462 per Equity Share to ₹487 per Equity Share of face of ₹1 each. The Offer includes an Employee Discount of Rs. 25 per Equity Share on the Offer Price for Eligible Employees Bidding in the Employee Reservation Portion (defined below). Bids can be made for a minimum of 30 Equity Shares and in multiples of 30 Equity Shares thereafter.

The Offer consists of equity shares of face value of ₹1 each ("Equity Shares") of the Company aggregating up to ₹52,350 million (the “Offer”) comprising a fresh issue of Equity Shares aggregating up to ₹40,000 million (the “Fresh Issue”) and an offer for sale by certain existing shareholders of the Company aggregating up to ₹12,350 million (the “Offer for Sale”), comprising such number of Equity Shares aggregating up to ₹2,000 million by Deli CMF Pte. Ltd., such number of Equity Shares aggregating up to ₹4,540 million by CA Swift Investments, such number of Equity Shares aggregating up to ₹3,650 million by SVF Doorbell (Cayman) Ltd, such number of Equity Shares aggregating up to ₹1,650 million by Times Internet Limited (collectively, the “Investor Selling Shareholders”), such number of Equity Shares aggregating up to ₹50 million by Kapil Bharati, such number of Equity Shares aggregating up to ₹400 million by Mohit Tandon, and such number of Equity Shares aggregating up to ₹60 million by Suraj Saharan (collectively, the “Individual Selling Shareholders”) (the Investor Selling Shareholders and the Individual Selling Shareholders are collectively referred to as the “Selling Shareholders”). This offer includes a reservation of such number of Equity Shares aggregating up to ₹200 million for subscription by Eligible Employees (the “Employee Reservation Portion”). 

The Offer is being made in terms of Rule 19(2)(b) of the Securities Contracts (Regulation) Rules, 1957, as amended (the “SCRR”) read with Regulation 31 of the Securities and Exchange Board of India (Issue of Capital and Disclosure Requirements) Regulations, 2018, as amended (“SEBI ICDR Regulations”). This Offer is being made through the Book Building Process and in compliance with Regulation 6(2) of the SEBI ICDR Regulations, wherein at least 75% of the Net Offer shall be available for allocation on a proportionate basis to Qualified Institutional Buyers (“QIBs”, the “QIB Portion”), provided that the Company may, in consultation with the BRLMs, allocate up to 60% of the QIB Portion to Anchor Investors on a discretionary basis (the “Anchor Investor Portion”), out of which one-third shall be reserved for domestic Mutual Funds, subject to valid Bids being received from domestic Mutual Funds at or above the Anchor Investor Allocation Price, in accordance with the SEBI ICDR Regulations. In the event of under-subscription or non-allocation in the Anchor Investor Portion, the balance Equity Shares shall be added to the QIB Portion. Further, 5% of the QIB Portion (excluding the Anchor Investor Portion) shall be available for allocation on a proportionate basis to Mutual Funds only, and the Net QIB Portion shall be available for allocation on a proportionate basis to all QIB Bidders (other than Anchor Investors), including Mutual Funds, subject to valid Bids being received at or above the Offer Price. However, if the aggregate demand from Mutual Funds is less than 5% of the QIB Portion, the balance Equity Shares available for allocation in the Mutual Fund Portion will be added to the remaining QIB Portion for proportionate allocation to QIBs. If at least 75% of the Net Offer cannot be Allotted to QIBs, then the entire application money will be refunded forthwith. 

Further, not more than 15% of the Net Offer shall be available for allocation to Non-Institutional Bidders, of which (a) one-third portion shall be reserved for applicants with application size of more than ₹200,000 and up to ₹1,000,000; and (b) two-thirds portion shall be reserved for applicants with application size of more than ₹1,000,000, provided that the unsubscribed portion in either of such sub-categories may be allocated to applicants in the other sub-category of Non-Institutional Bidders, subject to valid Bids being received at or above the Offer Price and not more than 10% of the Net Offer shall be available for allocation to Retail Individual Bidders (“RIBs”) in accordance with the SEBI ICDR Regulations, subject to valid Bids being received at or above the Offer Price. All Bidders, other than Anchor Investors, are required to mandatorily utilise the Application Supported by Blocked Amount (“ASBA”) process, providing details of their respective bank accounts (including UPI ID  in case of UPI Bidders) in which the Bid Amount will be blocked by the SCSBs, to participate in the Offer. Anchor Investors are not permitted to participate in the Offer through the ASBA process. Further, Equity Shares will be allocated on a proportionate basis to Eligible Employees applying under the Employee Reservation Portion, subject to valid Bids received from them at or above the Offer Price.

The Equity Shares offered in this Offer are proposed to be listed on both BSE Limited (“BSE”) and the National Stock Exchange of India Limited (“NSE”, together with BSE, the “Stock Exchanges”). 

Kotak Mahindra Capital Company Limited, Morgan Stanley India Company Private Limited, BofA Securities India Limited, and Citigroup Global Markets India Private Limited are the Book Running Lead Managers to the Offer.

All capitalised terms used herein but not defined shall have the same meaning as ascribed to them in the Red Herring Prospectus and the Prospectus.

Prudent Corporate Advisory Services IPO to open on May 10 prices IPO at Rs 595-630 per equity share

• Price Band fixed at ₹ 595per Equity Share to ₹ 630 per Equity Share of face value of ₹ 5 each  

• Offer to remain open from May 10, 2022 to May 12, 2022

• Bids can be made for a minimum of 23 Equity Shares and in multiples of 23 Equity Shares thereafter

Mr Sanjay Shah, Promoter and Chairman, Prudent Corporate Advisory

MUMBAI, 5th MAY, 2022 (TGN): Prudent Corporate Advisory Services Limited (the “Company”), to open its initial public offering (the “Offer”) on May 10, 2022. The Anchor Investor Bid/Offer Period is one Working Day prior to Bid/Offer Opening Date, that is, May 09, 2022.

The Price Band of the Offer has been fixed at ₹ 595 per Equity Share to ₹ 630 per Equity Share of face value ₹ 5 each. The Offer includes an Employee Discount of Rs. 59 per Equity Share on the Offer Price for Eligible Employees Bidding in the Employee Reservation Portion (defined below). Bids can be made for a minimum of 23 Equity Shares and in multiples of 23 Equity Shares thereafter.

This Offer includes a reservation of equity shares aggregating up to ₹ 65.00 million for subscription by Eligible Employees (the “Employee Reservation Portion”).The Offer is being made in terms of Rule 19(2)(b) of the Securities Contracts (Regulation) Rules, 1957, as amended, (the “SCRR”) read with Regulation 31 of the SEBI ICDR Regulations. 

The Offer is being made through the Book Building Process, in compliance with Regulation 6(1) of the SEBI ICDR Regulations, where not more than 50% of the Net Offer shall be available for allocation on a proportionate basis to Qualified Institutional Buyers (“QIBs”) (the “QIB Category”), provided that our Company and Selling Shareholders in consultation with the BRLMs, may allocate up to 60% of the QIB Category to Anchor Investors, on a discretionary basis (the “Anchor Investor Portion”), of which one-third shall be reserved for domestic Mutual Funds, subject to valid Bids being received from domestic Mutual Funds at or above the price at which Equity Shares are allocated to Anchor Investors. In the event of under-subscription or non-allocation in the Anchor Investor Portion, the balance Equity Shares shall be added to the QIB Category (other than Anchor Investor Portion).

Further, 5% of the QIB Category (excluding the Anchor Investor Portion) shall be available for allocation on a proportionate basis to Mutual Funds only and the remainder of the QIB Category shall be available for allocation on a proportionate basis to all QIBs, including Mutual Funds, subject to valid Bids being received at or above the Offer Price. Further, not less than 15.00% of the Net Offer shall be available for allocation to Non-Institutional Bidders, of which (a) one third of such portion shall be reserved for applicants with application size of more than ₹200,000 and up to ₹1 million; and (b) two third of such portion shall be reserved for applicants with application size of more than ₹1 million, provided that the unsubscribed portion in either of such sub-categories may be allocated to applicants in the other sub-category of Non-Institutional Bidders and not less than 35.00% of the Net Offer shall be available for allocation to Retail Individual Bidders (“RIBs”) in accordance with the SEBI ICDR Regulations, subject to valid Bids being received at or above the Offer Price. All potential Bidders (other than Anchor Investors) shall mandatorily participate in this Offer through the Application Supported by Block Amount (“ASBA”) process and shall provide details of their respective bank account (including UPI ID for UPI Bidders using the UPI Mechanism) in which the Bid Amount will be blocked by the SCSBs or the Sponsor Bank under the UPI Mechanism, as the case may be. Anchor Investors are not permitted to participate in the Offer through the ASBA process.

The company has reserved shares worth Rs 65 million for its employees.Promoter Sanjay Shah holds a 43.36 percent stake in Prudent Corporate and Wagner has a 40 percent shareholding.As a part of the OFS, Wagner Ltd, an entity of TA Associates, will offload 82,81,340 equity shares and Shirish Patel, Whole-time Director and Chief Executive Officer of Prudent, will sell up to 2.68 lakh equity shares, as per the draft red herring prospectus (DRHP).

"TA Associates will partially exit through the public issue as it will dilute about 20 per cent of its shareholding through the public issue, while Patel will divest 0.65 per cent stake in the company," Sanjay Shah, promoter and chairman, Prudent Corporate Advisory, told TGN 

The Equity Shares offered in this Offer are proposed to be listed on both BSE Limited (“BSE”) and the National Stock Exchange of India Limited (“NSE”, together with BSE, the “Stock Exchanges”). ICICI Securities Limited, Axis Capital Limited, and Equirus Capital Private Limited are the Book Running Lead Managers to the Offer.Ends