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20 MICRONS IPO PRICE BAND AT RS 50 AND RS 55 PER EQUITY SHARE Thesynergyonline Corporate Bureau MUMBAI,
AUG 27 : The company filed a Red Herring Prospectus with the Registrar of Comp ani es, Gujarat , at Vadodara, on August 19, 2008.
The issue consists of a fresh issue of 16,75,000 equity shares of Rs 10 each and an offer for sale of 26,75,632 equity shares by Gujarat Venture Capital fund 1995 (the selling shareholders). Up to 2,17,532 equity shares will be reserved for subscription by eligible employees. The issue will constitute 30.81 per cent of the post issue paid- up capital of the company. The issue has been graded by the Credit Analysis & Research (CARE) and has been assigned the 'IPO Grade 3' indicating average fundamentals.
The company intends to utilize the proceeds of the fresh issue in the IPO towards the current ongoing expansion plans of the manufacturing capacities at various locations, invest in the sub-micron particle sizes required by end-market and general corporate purposes.
The equity shares are proposed to be listed on Bombay Stock Exchange and National Stock Exchange . The book running lead manager is Keynote Corporate Services . The company is a producer of white minerals with an annual turnover of over 1,80,000 tons from plants and deposits spanning in different regions of the country producing functional fillers, specialty chemicals and extenders which are supplied globally. It has 4 different captive mines and 8 manufacturing locations spanned over the country with total minera reserve of 60,00,000 metric tonnes. Currently, it has about 70 international customers based in 30 countries utilizing 450 product grades, which are in addition to 700 local customers in India . The customers are Asian Paints Berger Paints India , ICI India Ltd., Kansai Nerolac, Akzo Nobel Coatings , Plastiblend India , Pidilite Industries ., Kandui Fillerteknik, Finolex Cable and Shriram Polytech. (npsinha@thesynergyonline.com)VISTAGY PARTNERS WITH CSM VIGYAN TO EXTEND LEADERSHIP TO INDIAN AEROSPACE AND AUTOMOTIVE MARKETS Thesynergyonline Corporate Bureau BANGALORE
, AUG 27 : CSM Vigyan will leverage the extensive aerospace and automotive industry experience of its group, consisting of CSM Software LLC and CSM Software . "The use of composite materials and need for specialized engineering solutions are both expanding so rapidly that the partnership with VISTAGY is important for us," said Dr. Swami Narayanaswami, chairman of the CSM Group of companies. "We also think VISTAGY's airframe development environments have great appeal in our market because the software enables aerospace engineers to design and manufacture airframes much more efficiently and cost-effectively." "The
partnership with CSM will enable VISTAGY to make an impact in
a market that is increasingly strategic for us and will also ensure
that our customers are well supported and successful ," said
Steve Luby, president and CEO of VISTAGY.(npsinha@thesynergyonline.com)
BHEL WINS RS 140-CRORE ANOTHER ORDER FOR TWO GAS TURBINE GENERATING UNITS FROM IER , UAE Thesynergyonline Corporate Bureau NEW
DELHI, AUG 27 : Valued at Rs.140 crore, the order has been received from International Energy Resources (IER), UAE. These units will be mounted on barges for Mobile Power Plants and are planned to be used in different locations. With the rapidly increasing need of Power Plants on fast track basis, Independent Power Plant (IPP) developers are developing such Merchant Power Plants that require short gestation and offer mobility. Significantly, this is the company’s third breakthrough in the UAE and comes close on the heels of a similar order for 2 Gas Turbine Generating units of 42 MW each from the same customer.
The order reflects the customer’s confidence in
BHEL
has established its footprints in all the six continents of the
world - spanning 70 countries and its technical ompetence has
earned worldwide acclaim. The company is taking major strides
to become a major global player by enhancing its presence in international
markets. It has identified FINNISH STEEL GIANT OUTOKUMPU BAGS ACHEIVERS AWARD FOR STAINLESS STEEL CONTRIBUTION IN CONSTRUCTION Thesynergyonline Corporate Bureau NEW
DELHI, AUG 26 : "The Duplex stainless steel reinforcing bars have been introduced in the Indian market for providing long life into concrete structures especially in the coastal areas, ports, airports, bridges, high rise buildings and water treatment plants as these bars do not ever corrode and thus concrete failure due to spalling is avoided " said Mr. Y.P.S. Suri, India head, Outokumpu India. "Duplex Stainless steel reinforcing bars are although more expensive than carbon steel but it can be used selectively in failure prone zones only thus increasing the project cost marginally and at the same time we can get over 100 years maintenance free life which means lots of savings by reducing the ongoing repair and maintenance costs of structures like bridges, highrise bildings and highways" Mr. Suri said . "Moreover Duplex stainless steel can readily be used with conventional carbon steel reinforcement in concrete without causing galvanic effects. Stainless steel can be cost-effective when used in the elements of the structure at highest risk to corrosion or, where repair is difficult and expensive" he added. "In addition to improved corrosion resistance, austenitic stainless steel reinforcing can also be supplied in the non-magnetic condition for certain military, medical and scientific applications." Mr Suri said.The company last week has bagged "Acheivers Award" for its contribution in promoting stainless steel aspplications in the field of infrastructure and architecture "The other benefits of stainless steel reinforcement include significant increase in durability and reduction in repair and maintenance costs, elimination of concrete sealants and reduction in thickness of the concrete cover . (npsinha@thesynergyonline.com) ASIA PACIFIC EAGERLY ASWAITS BEIJING 2008 OLYMPIC GAMES CLOSING CEREMONY EXTRAVAGANZA
Thesynergyonline Corporate Bureau
NEW
DELHI, AUG 23 :
Of the 4,315 people from the region who said they would watch the Beijing 2008 Olympic Games, nearly two-thirds (63 percent) said they would be watching the Closing Ceremony of the Beijing 2008 Olympic Games. The Opening Ceremony was a resounding success, with an estimated four billion people tuning in to watch. The Visa survey found the Closing Ceremony holds the same fascination and universal appeal, as the Opening Ceremony attracting high levels of interest from all age groups, regardless of gender or marital status.
Santanu Mukherjee, country manager, South Asia, Visa Asia Pacific said, “The Closing Ceremony celebrates the amazing human achievements made over the past 16 days, and it will be a highlight of the G ames for many. It will also be a time for supporters all over the world to pay tribute to their home teams. We congratulate all the athletes, including Team Visa’s Michael Phelps for setting the all-time record for most career Olympic gold medals by one athlete at a single Games.”
Overall, Visa sponsored athletes had a strong showing at the Beijing 2008 Olympic Games, taking home 17 gold medals and 37 medals in total. If Team Visa was competing as a nation, it would have ranked an equal third with Great Britain based on its gold medal tally, behind China and the USA, as at the end of Thursday, 21 August 2008. The closing eeremony is the most popular among Indians and Malaysians . People from countries and territories across the region are looking forward to the fanfare of the Closing Ceremony. In fact, it is the second most popular event at the Olympic G ames for nearly nine out of ten Malaysians (87 percent) and nearly four out of five Indians (78 percent), ranking even higher in popularity than other events and sports at the competition.
The Closing Ceremony is among the top three Olympic Games events for Australians (75 percent), and Hong Kongers (74 percent), and the fourth most popular event for Koreans (61 percent), New Zealanders (70 percent), Singaporeans (68 percent) and Taiwanese (52 percent).
According to another survey carried out by Visa[3], three out of four Chinese (75 percent) believed the G ames would be the biggest and best ever. Seventy percent said China ’s gold medal tally would increase in this year’s Olympic G ames and indeed, as at the end of Thursday, 21 August 2008, China had already won 46 gold medals at these Games, 14 more than the 32 they took home for the entire Games in Athens in 2004.
Santanu Mukherjee said, “It’s hard to believe the end of the XXIX Olympiad is nearly upon us, but it has been wonderful to see how much people from Asia Pacific have enjoyed the G ames. Even after the flag is lowered and the flame is extinguished, we will always remember the highlights of the G ames and people from all over the world who have been united through sport.” (npsinha@thesynergyonline.com)
AASU ASSURES UNCONDITIONAL SUPPORT TO ONGC Thesynergyonline Corporate Bureau NEW
DELHI, AUG 23 : A spokesperson said this after a two-hour long meeting between the student body leaders and ONGC CMD and Directors at the Navratna’s office in New Delhi on Friday. AASU was represented by S Sonwal, MP from Dibrugarh, Dr. S Bhattacharya, AASU advisor, S P Ray, AASU President, Tapan Gogoi, AASU General Secretary, and other leaders. ONGC CMD R S Sharma, Director (Human Resource) Dr. A K Balyan and Director (Onshore) A K Hazarika, along with senior executives from ONGC Assam Asset had very fruitful discussions with the AASU team. AASU leaders S Sonwal, S Bhattacharya, S P Ray and Tapan Gogoi pose with ONGC CMD R S Sharma, Director (HR) A K Balyan and Director (Onshore) A K Hazarika, after their fruitful meeting in New Delhi on 22nd August 2008. AASU assured their unconditional support to ONGC in its Assam operations, to augment productivity, by exempting the oil major from bandhs and barricades. Besides issues related to operational activities, the developmental issues in the state were also discussed. ONGC appreciated AASU’s approach for corporate support, in collaboration with the district authorities there, to augment healthcare facilities (like improving Diagnostics facilities) in hospitals in Sibsagar district, facilitate improvement in computer training, support the District Library, and increase training of ITI-qualified local youth in ONGC facilities to sharpen their professional skills, equipping them for employment opportunities. Appreciating the positive stance of the ONGC management to the developmental demands of Assam, AASU representatives assured their unconditional support and cooperation to the operations of ONGC in the agitation-ridden north-eastern state. MP S Sonwal said that AASU will appeal to people in the state, to cooperate with ONGC’s operations, as the “economic prosperity of ONGC may get translated to economic prosperity of the region”. AASU also said that they will ask other pressure groups there to exempt ONGC operations from bandhs and barricades, in the broader economic interest of the state. (npsinha@thesynergyonline.com) WITH TATA’S EXIT FROM WB, ITS ECONOMY HEAD FOR UPHEAVALS Thesynergyonline Economic Bureau NEW
DELHI, AUG 23 : In a statement, the ASSOCHAM Chief, said that it would be a clear case of vindictive politics which would be forcing Tata’s to pull out of West Bengal and send extremely wrong signals to investors and take the state back to 70’s era in which the West Bengal witnessed large exodus of its industrial units. Mr. Jindal regretted that at times when the entire West Bengal has come at the forefront of receiving huge investments in view of its friendly industrial policy, Tata’s pulling out of it would be a great set back to the economy of the state which, no doubt, has emerged for a boom. The ASSOCHAM Chief suggested that the West Bengal Government should intervene and persuade Tata’s not to move out of West Bengal and prevail upon political parties that are subjecting Tata’s to conditions to run their sangrur project. If this does not happen, the ASSOCHAM foresees West Bengal economy heading for upheavals. (npsinha@thesynergyonline.com) 74 NEW BRANDS FELICITATED BY SUPERBRANDS Thesynergyonline Corporate Bureau
NEW
DELHI, AUG 22 : Teacher's,
the flagship brand from Beam Global Spirits & Wine (I) Pvt.
Ltd, has come on board as the official long-term sponsor of Superbrands
Tribute Nites. In the five years since it was instituted in India, Superbrands has earned the proud distinction of being the one award that brands consistently use as a symbol of exceptional achievement. The Superbrands logo has been used in press and TV advertising; on billboards, annual reports, product literature, tags and stickers on products, stationery, packaging, even red herring documents. So far 192 consumer brands and 134 business brands in India have been felicitated at Superbrands launches. At last count 43 companies were using or had used the Superbrands logo in their communication activities as a symbol of triumph and achievement. It was seen as the one element that has helped distance them from competitors in their categories. Speaking on the occasion, Mr. Anmol Dar, Managing Director, Superbrands India Private Limited said, "Superbrands has helped companies and brands create a marketable differentiator. Indeed, across eight countries, where research was conducted it was conclusively shown that 71 per cent of all respondents were more likely to buy a product that carried the Superbrands logo." Mr. Harish Moolchandani, Chief Executive & Managing Director, Beam Global Spirits & Wine India and Sub Continent, said, "We are proud that our flagship brand Teacher's is associated with the Indian edition of Superbrands. This provides us another opportunity to recognise and honour brands. Our association with Superbrands is an extension of our commitment towards encouraging and supporting excellence in every field." At the launch some of the companies that were felicitated by Superbrands included Big Bazaar, Biocon, Club Mahindra, Escorts Heart Institute, Infosys, Maruti Suzuki, Microsoft, MCX, HDFC Bank, NIIT, PVR, UTI Mutual Fund and Suzlon, to name a few. The current Superbrands council has included marketing stalwarts such as V C Burman (Dabur), O P Bhatt (State Bank of India), H F Khorakiwala (Wockhardt), Deepak Puri (Moser Baer) and Ashok Sinha (BPCL). Notably, in the past some of the eminent council members have included Mukesh Ambani, Sunil Mittal, Naina Kidwai, Piyush Pandey, Vijay Mallya, Gurcharan Das, Nandan Nilekani as council members.
Former Deputy Prime Minister and Leader of the Opposition, Mr. L K Advani, was the chief guest. The event was attended by more than 400 eminent personalities from across industries. Mr LK Advani said," This programme is special for me. I have attended many functions of businesspeople over the years. I have also given away awards to them. But it is for the first time that I am participating in a programme that honours business brands - rather, superbrands - and felicitates the super-businessmen behind the superbrands. He congratulated Mr Anmol Dar and his colleagues for producing this excellent compendium called 'Business Superbrands'. He also commended all the companies which have been featured in it. Brand awareness, brand building, brand management and the whole concept of Business Organisation as a Brand' is relatively new rn India. It is an outcome of the liberalised and competitive business environment that was created in the early 1990s. This environment brought greater choice before our people, a choice that was denied to them previously because of the model of excessively state-controlled economic development that India had followed since Independence , he added. During the 'License-Permit-Quota' Raj, there was no opportunity, incentive or compulsion for Indian companies to prove themselves. This is because the ruling party of that period did not trust the Indian entrepreneurial class . As a result, India's economic growth was severely stunted. My party was strongly opposed to this Soviet-inspired economic model that successive governments had followed until the arrival of the 1990s. And when this model was jettisoned, we supported the change enthusiastically, he added. The
change enabled thousands of new private sector companies to enter
the marketplace and meet the needs of the Indian consumers. Many
public sector companies also restructured themselves to better
meet the requirements of the consumer, he said.. Thanks to the new liberalised environment for trade and investment, our people were also exposed to the products, services, technologies and business management practices from abroad. As a result, Indian companies realised that they had to not only compete .-amongst themselves, but also compete, survive and succeed against foreign firms , he said .. The competition is a foe of complacency. I say this out of my own political experience. If you are complacent, you cannot compete. This is true not only about business, but also about every sphere of life , he said.. But competition is also a friend of quality. Where there is healthy competition, quality always thrives. And so does excellence. Where there is competition, companies pay greater attention to customer satisfaction. This is because they know that their success or otherwise is judged at the marketplace by discerning and demanding customers , he added .. Hence, in the new environment of economic development in India, Indian companies took competition both domestic and foreign as a challenge. And within a short period, many of them proved their mettle , he said.. Brand, therefore, is a testimonial or a certificate of how an organisation has succeeded in earning a distinctive name for itself in a competitive marketplace by winning the trust of the consumers, confidence of the stakeholders, and praise of the people at large. And this book chronicles the success stories of the best among the business brands in India. There are many reasons to rejoice at the emergence of Indian Superbrands. The most important reason, according to me, is associated with national pride. Many of you in this hall will recall that in the past - and I am referring here to the era of the 'License-Permit-Quota' Raj - many Indians had a craze for "foreign brands". And because these imported goods were not easily available, the craving to have them was even more intense.
The emergence of globally competitive Indian companies has dispelled the inferiority complex. "The Made in India' label may not yet be very popular across the world, and this is because India's share in global trade is still very low. But nobody can deny that scores of Indian companies - the 'Superbrands' featured in this book - are today as good as the best in the world. They are second to none in the world in manufacturing excellence? in innovation, in customer service, in corporate social responsibility. It is these great Indian companies - Tata, Reliance, Aditya Birla Group, Moserbaer, Infosys, Wipro, etc - that have enhanced the reputation of India as an emerging economic power. I believe that the national pride associated with this phenomenon has tremendous transformational power. " I must confess that my understanding of the concept of "brand" is that of a layman. Nevertheless, I would like to emphasise certain aspects of this concept that have a significance beyond the narrow parameters of the marketplace. For example, as I leafed through the pages of this book, I was happy to note othat among the organisations that have succeeded in being recognised as 'Superbrands' are also those that are not business entities in the traditional sense of the term , Mr Advani further said. Also featured in this book is Dainik Jagran, which, according to the World Association of Newspapers, is the largest read daily in the world. However? what attracted my attention is the information about. the courageous stand that this Hindi newspaper took during the Emergency, when strict censorship was imposed on the media. The day after the Emergency was imposed, on 26 June 1975, Dainik .Jagran carried a blank editorial column titled 'New Democracy? - Censorship Enforced'. The newspaper's founder Puran Chandra Gupta and his two sons Narendra Mohan and Mahendra Mohan were arrested. As the Information & Broadcasting Minister in the Janata Party Government after the Emergency was lifted, I had remarked, 'Many in the media chose to crawl when they were asked to bend." However, some publications and journalists neither bent nor crawled. They stood straight in defiance and paid the price for it. Hence, for a media organisation, the brand value lies being true to its 'dharma' or its duly towards democracy, towards its readers, towards society , he further said. "I find that the term 'brand' is now being used in political parlance, too. Political parties and leaders are also supposed to have a 'brand' value. Insofar as this concept is not used loosely in politics, I think that the true reputation of a party or a leader should be judged by the credibility they enjoy. One must be true to one's own beliefs. One's practice should match one's precept. The test of the survival of a free society and a vibrant democracy is whether our public life has sufficient number of people who value their own credibility, who safeguard the trust that people have in them, and set an example for the rest of society ," he added. In this respect, society's expectation from politicians and businessmen is not fundamentally different. Businessmen and business organisations are also expected to preserve the trust and confidence that customers and stakeholders have in them. In the ultimate analysis, reputation cannot be earned or retained through advertising and other superficial brand- building exercises. It comes only by delivering consistently what you promise, to the satisfaction of your customers. "We celebrate the success of Indian companies, I should also express a few concerns on this occasion. As I have mentioned earlier, there is a close linkage between the brand value of individual companies and the value of 'Brand India' as such. The value of 'Brand India' depends on how good are the infrastructure facilities in our country, how attractive is the environment for investment and doing business, how efficient, transparent and corruption-free is the functioning of various government bodies and how good is the law and order situation. If investors and businessmen are satisfied on all these counts, naturally trade and businesses will thrive and many more 'Superbrands' will emerge, he enlightened.. Sadly, the environment for investment and business in many parts of India is far from satisfactory. I am told that there is still a lot of red-tapism, bureaucratic harassment and delay for small and medium companies. As many as 17 different forms are still needed to be filled and clearances obtained from different agencies for starting a new business. Infrastructure is improving in some states, but it is still very poor in many other stales. Corruption is rampant. Judicial delays are the order of the day. Our education system, especially the system of higher and professional education, is in need of radical reforms. We have a strange situation in our country where on the one hand tens of thousands of young men and women are in need of employment, but, on the other, properly skilled and trained people are not available for the jobs that do exist, Mr Advani said. All
this is unacceptable. We must change this situation. Without changing
it, the true potential of India's development cannot be realised.
I wish to assure this audience that we shall take bold and decisive
steps to change this situation - to enhance the value of Brand
India' - if people give us the mandate to form the next government
, he concluded .
I have traveled across the length and breadth of India and I have not seen one person who is a beggar, who is a thief. Such wealth I have seen in this country, such high moral values, people of such caliber, that I do not think that we would ever conquer this country, unless we break the very backbone of this nation, which is her cultural and spiritual heritage, and, therefore, I propose that we replace her old and ancient education system, her culture, for if the Indians think that all that is foreign and English is good and greater than their own, they will lose their self esteem, their native culture and they will become what we want them-a truly dominated nation. "Over the last two years Creatigies has been proud and privileged to be associated with the Superbrands Tribute Nite," said Navroze Dhondy, Chief Executive of Creatigies Communications, the marketing partners to the event. Superbrands has so far released (including today's launch) four books - two each in the consumer and business genres. India pioneered the concept of seeking the consumers' opinion in evaluating brands. In every other country it is the Superbrands council that alone sits in on judgement. The response to consumer scoring has been outstanding. For the present book we had more than 27,000 respondents who between them gave us more than a half million scores. Brands which have been approved by audiences are then evaluated by a professional marketing body known as the council members. The members of this body are selected on the strength of their track record in building and nurturing brands. The Indian operations create case studies across two categories: Consumer Superbrands and Business Superbrands. The first looks at brands that are commonly available to audiences and interaction happen with them almost on a daily basis; the latter are brands which deal with other businesses (such as infrastructure and engineering companies). (npsinha@thesynergyonline.com)
Thesynergyonline Corporate Bureau HANNOVER,
AUG 22 :
With the improved offer price and the obligation to compensate possible negative impacts for the company, the package contains a perceptible increase of the consideration offered by Schaeffler. Also, with this agreement clarity is provided regarding the future conditions: For its costumers, Continental remains a reliable long-term partner that is extremely well positioned. The Continental employees can continue to rely on the clear focus of our concept for the future which we have developed over the last years.
The open-ended Investment Agreement that cannot be terminated by the parties before spring 2014 contains several provisions to safeguard the interests of Continental AG, its shareholders, employees and customers. Schaeffler KG has committed itself to increase the offer price per Continental share from EUR 70.12 to EUR 75.00.
Such increase corresponds to an additional amount of around EUR 800 million for our shareholders, representing a premium of 39 per cent on the stock price per Continental share immediately prior to announcement of the takeover bid, 20 per cent on the monthly average price and 8 % on the three month average price prior to announcement of the planned takeover bid. The shareholders most likely have until September 16, 2008 to decide whether to accept the improved offer.
In addition, Schaeffler has undertaken to limit its position to a minority shareholding in Continental AG (up to 49.99 per cent) for a period of four years, to support the ongoing strategy and business policies of Continental AG's management board while maintaining its current market and brand appearance and to not demand a sale of activities or seek other material structural measures.
A further material element of the agreement directed at safeguarding the interests of Continental AG is the obligation of Schaeffler to compensate Continental AG for possible negative effects resulting form a so called change-of-control in connection with existing financing agreements of Continental AG and negative tax effects resulting from Schaeffler's shareholding in the amount of overall EUR522 million.
Schaeffler KG further has accepted to give, in case of a possible sale of blocks of its minority stake in Continental within the next four years, a pre-emptive right to a person nominated by the guarantor, if the sale to such person is in the best interest of Continental AG and Schaeffler KG. In addition, it has been agreed that there will be no changes to Continental AG’s form of incorporation, its corporate seat, headquarters or business divisions, its listing on the stock exchange, its dividend policy or an increase of its debt to equity ratio against the wishes of Continental AG.
To safeguard the interests of the employees, Schaeffler KG is obliged not to conduct or support, without the consent of Continental’s executive board, any measures directed at changing the current collective bargaining or works council agreements or abolishing the employees’ codetermination rights based on parity in the supervisory board. In addition, Schaeffler is obliged to respect all rights of the employees, works councils and the labour unions under applicable law, agreements, regulations and contracts in force at Continental. In addition, without undue delay after completion of the takeover offer both parties will examine the possibilities for strategic cooperation projects between the Schaeffler Group and the Continental Group particularly in the Powertrain division based on the principles of an alliance of equals between two productive and independent companies.
As a guarantor for ensuring the interests of Continental, its shareholders, its employees and other stakeholders, former German Chancellor Dr. Gerhard Schröder is authorized and empowered to enforce all obligations of Schaeffler at any time by legal action or out of court. In this regard he is entitled to request information from Schaeffler about their level of compliance with their obligations under the Investment Agreement.
Both parties having handled the dispute determinedly, Continental expects a smooth cooperation with the Schaeffler Group on the basis of the jointly reached Investment Agreement. It is the mutual goal to increase the value of Continental sustainably and on a long-term basis and to further develop Continental and increase its innovative strength with all energy - in the interest of all stakeholders of Continental.
Once the offer document has been amended by Schaeffler, the executive board and the supervisory board shall issue an additional statement pursuant to Section 27 of the WpÜG (German Securities Acquisition and Takeover Act).
With targeted annual sales of more than €26.4 billion for 2008, the Continental Corporation is one of the top automotive suppliers worldwide. As a supplier of brake systems, systems and components for the powertrain and chassis, instrumentation, infotainment solutions, vehicle electronics, tires and technical elastomers, the corporation contributes towards enhanced driving safety and protection of the global climate. Continental is also a competent partner in networked automobile communication. Today, the corporation employs approximately 150,000 at nearly 200 locations in 36 countries.(npsinha@thesynergyonline.com)
EQUITAS 4TH HIGHEST CAPITALISED MFI IN INDIA Thesynergyonline Corporate Bureau NEW
DELHI, AUG 22 : Equitas now has Rs. 65 crore of net worth, including the first round of capital raised. Equitas has now become the 4th largest capitalised MFI in India, within 8 months of commencing operations. Aavishkaar Goodwell India Microfinance Development Company and Small Industries Development Bank (SIDBI) participated in the earlier round of capital infusion. According to Mr P N Vasudevan, Managing Director, Equitas Micro Finance India , "The demand for microfinance in the country is huge and estimated to be around Rs 2 lakh crore and supply is a meagre Rs 20,000 crore. The
company aims at playing a significant role in bridging this gap
by providing affordable financial services to a large number of
families that do not have access to loans from other sources.
Ms Mona Kachhwaha, Investment Director, India Financial Inclusion Fund LLC, said "Equitas combines the best of Microfinance practices with high quality financial management, and in a short span of time has set new benchmarks for efficiency. We believe Equitas can reach micro credit at reasonable terms to millions of families and we are happy to partner them in this journey" Mr Anal Jain of MVA Ventures adds, "We partner many Microfinance companies in Latin America. Equitas is our first equity partner in India, and we are keen to support them with our expertise and resources to reach out to the large population in this customer segment". The company is a new-generation MFI which brings technological and operational efficiencies of retail banking to the MFI sector to improve productivity and reduce cost to customer. It has already set many records and is today considered the fastest growing start-up MFI globally. Equitas currently serves over 70,000 clients in Tamil Nadu and by end of the year expects to reach 600,000 clients in Southern India. (npsinha@thesynergyonline.com) ICICI PRUDENTIAL ASSET MANAGEMENT UNVEILS ICICI PRUDENTIAL SMART FUND Thesynergyonline Corporate Bureau NEW
DELHI, AUG 22 : The
fund is designed such that when equity markets go up the investor
potentially profits and when equity markets go down, the investor
still has the potential to keep his principal investment intact.
The Fund seeks to invest up to 95 per cent in equity linked debentures
with returns linked to the Nifty’s movement. Zero per cent
to 100 per cent will be invested in investment grade debt securities
with fixed and floating interest rate. The fund will follow the
buy and hold investment strategy for investments. An investment in in the ICICI Prudential SMART Fund is worth considering because of the primary advantage of possible upside participation and downside capital preservation.
During
the Period from July 1991 to July 2008 – Nifty has given
negative returns more that 1 out of 3 days – ( Source - MFI
Explorer) Hence
Debt Investment = Possibility of missing market rally Speaking
on the occasion, Mr. Nimesh Shah, Managing Director, ICICI Prudential
Asset Management Company said, "Owing to the overwhelming
response received for one of our most innovative equity linked
product offering the ICICI Prudential FMP Series 33 - Plan A,
we have launched the ICICI Prudential SMART. The
Fund (Structured Methodology Aiming at Returns over Tenure), to
help investors further their investment objective of providing
avenues for upside equity participation and downside risk mitigation.
The fund provides an ideal investment opportunity for investors
with limited risk appetite looking to gain equity market exposure
during a market upside while also limiting the risks of capital
erosion during a downside.” Plan
24 Months Plan C 36 Months Plan F MAHIDNRA POWEROL UNVEILS HIGH POWER RANGE OF DIESEL GENSETS Thesynergyonline Corporate Bureau NEW
DELHI, AUG 21 : The company also launched B100 Biodiesel Generator sets and unveiled a new logo to celebrate the sale of its 100,000th genset. On this occasion the company invited esteemed customers, OEMs, suppliers and vendors.
“In a short span of seven years, the company has made a formidable presence in the Indian genset industry” said Mr. Gautam Nagwekar, COO, Farm Equipment Sector, Mahindra & Mahindra .
“The launch of gensets range will expand customer base to include captive power units, the hospitality industry, IT parks, commercial complexes, retail outlets and the infrastructure sector. B100 biodiesel generator helps conserve energy and reduces the greenhouse effect. New new logo – 1 Lakh Powering Smiles – reflects customer-centric approach to the business,” said Mr. P. Palaniappan, Business Head, Mahindra Powerol. The company's gensets supply has croosed 32,000 and is likely to achive 50,000 mark in current fiscal.It has supplied mdiesel genests to Delhi Metro Corporation. The company's biodisel initiative has added value to telecom segment.
The technology used in the new high power genset range has advantages as the gensets respond faster to sudden loading and unloading conditions and the vibration and noise levels are much lower as compared to other products in the similar range.
B100 biodiesel genset uses an electronic controller which ensures start and stop in diesel mode and switching to biodiesel mode while running of the generator set. Two separate tanks inside the generator set ensure seamless switching between both modes. The use of biodiesel fuel (as per IS 15607 - 2005) will be applicable for the current range of Mahindra engines starting from 7.5kVA up to 62.5kVA. Mahindra Powerol plans to extend this technology to its other range of engines in the near future.
The company provides a comprehensive range of services for customers. From transportation of the DG sets, installation and commissioning to providing annual and comprehensive maintenance contracts, the company aims to fulfill the customers' needs. It also has an after-sales-service network of over 130 MAGIECs (Mahindra Authorised Generator & Industrial Engine Centres) which cover every corner of the country including J&K, Andaman and the North-East.
The Group has a presence in key sectors of the Indian economy, including the financial services, trade, retail and logistics, automotive components, after-market, information technology and infrastructure development. Mahindra is now poised to make an entry in the two-wheeler segment.(npsinha@thesynergyonline.com)
ANSAL APZ TO INVEST RS 3,600 CRORE IN IT SEZs, PARKS Thesynergyonline Corporate Bureau NEW
DELHI, AUG 21 : The company currently has approval for setting up IT,ITES SEZs in Greater Noida, Gurgaon and Mumbai. While the IT SEZs have been branded as 'The Campus', the IT Parks have been christened 'Net City'. Construction for some of the projects has already commenced and are expected to be completed in the next five to seven years. The company has entered into a JV with ILF&S which will hold 49 per cent stake and the balance will be with APIL for the SEZ project in Badshahpur (near Gurgaon). IL&FS has as yet invested Rs 160 crore in the SEZ and its contribution will go up once the SEZ starts getting constructed and expand. The second FDI pertains to the Greater Noida SEZ where HDFC Property Venture Fund has invested 33 per cent. The company is planning to invest Rs 1,000 crore, with the remaining Rs 1,000-2,000 crore being generated through debt and equity. The total area to be developed under the scheme would be approximately 270 acres with built-up area of about 17 million sq. ft. Strategically located close to IT companies, expressways and airports, these SEZs will offer immense value to IT,ITES companies in the area besides contributing to its development. Based on the walk-to-work culture, the proposed SEZs will consist of an IT Zone (Processing area), a commercial zone (non-processing), a residential zone and a recreational area. Speaking on the occasion, Mr Pranav Ansal, Vice-Chairman and Managing Director, Ansal API said, "The comppany is to expand into West India with the launch of IT SEZ 'The Campus', Khapoli. These SEZs are aimed at growing IT & ITES companies choosing to set up centers in adjoining areas of Tier-1 cities in view of the global economic pressure to reduce costs and maximize returns. Ansal API SEZs will offer them the best value for money." These SEZs will be equipped with all modern amenities like 100 per cent power back-up, professionally managed 24X7 facility services, central air conditioning etc. The company has given special attention to the architecture to maximize space utilization. Large and efficient floor plates, lesser columns and high ceiling height and ample car parking space are some of the other features that will be offered to customers. These SEZs , parks will also endeavour to adhere to energy efficient building practises. The company proposes to drive its growth through focused concentration on developing integrated townships in Tier II cities, establishing presence in IT parks and SEZs. Also on the anvil is company's plans to establish malls in these townships with mixed hotel/serviced apartment usage. In keeping with the Government's housing policy, the company endeavours to provide better dwelling units for the urban poor with special emphasis on environmental improvement and social forestry. (npsinha@thesynergyonline.com) WARTSILA OPENS NEW PLANT EXTENSION IN KHOPOLI, INDIA Thesynergyonline Corporate Bureau MUMBAI,
AUG 21 : The focus will be on Wärtsilä 20, Wärtsilä 32 and Wärtsilä 34 engine installations. In the last few years, Wärtsilä has invested approximately EUR 8 million in its Khopoli unit, and further investments are possible in the future.
Speaking on the occasion of the inauguration, Mr Lars Hellberg, Group Vice President, Wärtsilä Industrial Operations, Wärtsilä Corporation said, “Wärtsilä’s technology enables the transition to a more sustainable and modern energy infrastructure in India . The new state-of-the-art manufacturing facility will work with the latest technology and semi-automation principle, where skilled manpower and modern manufacturing methods will both have equal opportunity.”
Wärtsilä in India started manufacturing auxiliary units and modules at its plant in Khopoli in 2004. Auxiliary units and modules are the peripheral accessories to the diesel generator room in the power plant. These process the oil, fuel, water and air that enter the diesel engine.
Currently there are some 1100 people working for Wärtsilä in India . In total Wärtsilä employs in Khopoli approximately 160 people, and following the plant extension this number is expected to increase by approximately 30 people. In addition to Khopoli, Wärtsilä is also present in India with sales and services activities in Navi Mumbai, Noida, Kolkatta, Secunderabad, Mangalore, Chennai, Mumbai, Vizakapatnam and Delhi .
Speaking on the occasion, Mr Rakesh Sarin, Managing Director of Wärtsilä India said, “This is the only facility manufacturing auxiliary modules owned by Wärtsilä. The rest of the supplies are through vendors in Europe . We continuously aim to improve the quality of our products and this has been our great focus area at the Khopoli plant. Cost competitiveness has been achieved by applying multiple skills and improving productivity. We are very positive that the new set up will help our colleagues at Wärtsilä boost the efficiency of project execution.”
“Competitive cost and quality helped us win export markets, but the unit in Khopoli had reached a stage where the existing manufacturing facility was inadequate to cater to the demand. With this expansion, Wärtsilä India is now poised for a big leap in the export market with the inauguration of its new facility,” Mr Sarin concluded.
The company enhances the business of its customers by providing them with complete lifecycle power solutions. When creating better and environmentally compatible technologies, the company focuses on the marine and energy markets with products and solutions as well as services. Through innovative products and services, the company sets out to be the valued business partner of all its customers with 17,000 professionals manning 160 company's locations in 70 countries around the world. The company is listed on The Nordic Exchange in Helsinki , Finland . In India , the company is a market leader in the decentralised power distribution captive power business with an installed base exceeding 3200 MW and over 270 decentralized power plants across the country. The company takes care of the operation and maintenance on behalf of its customers in 60 multifuel (HFO, Gas, Coal, Biofuel etc) power plants generating over 700MW in India . In the marine market, the company has delivered engines to vessels belonging to the Navy, Coast Guard, Port Trusts, Merchant Shipping, floating cranes and offshore rigs. TERI SEES 'BOTECHNOLOGY' AS PRIME MOVER FOR CREATING ECO-FRIENDLY, SUSTAINABLE TECHNOLOGIES Thesynergyonline Economic Bureau NEW
DELHI, AUGUST 20 : Celebrating its Foundation Day and remembering its founder late Mr Darbari Seth, TERI, Dr. Kiran Mazumdar-Shaw, Chairman and Managing Director, Biocon , delivered the annual lecture. She was selected because of her innovation and significant contribution to the field of biotechnology as she brought the biopharmaceutical research conducted by Biocon into the everyday lives of people and created a viable and profitable business out it. Dr. R.K. Pachauri, Director-General, TERI opened the lecture by highlighting the vision of Mr. Seth and the path breaking achievements of TERI with special reference to the field of biotechnology. He said, "Mr. Seth was not only an iconic figure in the business and industry but thought ahead of his times by bringing new technologies into existence that was considered as an impossible task by others. His foresight has guided us throughout to establish ourselves as a leading research organization in the nation and his blessings are always with us to explore new areas and achieve the impossible." Dr. Mazumdar-Shaw in her address focused on the importance of biotechnology for the conservation of environment and energy for a clean and green living. She emphasised that innovative use of biotechnology hold the key to solving the nation's problems in dealing with carbon emissions and spiralling energy costs. In particular, she added, algae held great promise. "Algae can be the cheapest source of biofuel that is easily produced, which can help in reducing pollution in various industries like chemical, textile, detergents etc." She concluded by proposing a five-point plan for India to break free of dependence on fossil fuels, reduce carbon emissions and achieve a clean environment: -- Make the energy mix more balanced so that by 2050, the country uses equal amounts of fossil fuel, hydel sources, biofuels, nuclear energy and solar and wind power instead of the current 65% dependency on fossil fuels. -- Create centres of excellence in research in seven critical areas ranging from bio-fuels to energy creation from solid urban waste and using enzymes by investing Rs 1,000 crores over the next five years -- Require companies to include their carbon footprint in financial reports from the next financial year and provide tax credits to cut carbon emissions while penalizing increased emissions -- Provide companies that process and reduce effluents eco-credits that can be traded for lower electricity tariffs -- Boost entrepreneurship in the area of renewable energy The Minister of Power, Mr Sushil Kumar Shinde, presiding over the ceremony, acknowledged the immense contribution of TERI and Biocon in biotechnology. He announced the approval of a Rs 51,000-crore project to provide electricity to the entire nation in the next three years. He also acknowledged TERI's contribution to getting the funding for the Additional Power Development Research Project (APDRP) as one of its evaluators. He further said that "visionaries like Dr Kiran Mazumdar Shaw and organizations like TERI with their continued efforts are sure to further take the cause ahead and quite possibly, the next chapter in the information age may be the 'Age of Biotechnology'." In the past, great entrepreneurs and scientific dignitaries like Dr. Abdul Kalam, Mr. Mukesh Ambani, N R Narayanamurthy and K Kasturirangan have shared their vision at the annual Darbari Seth Memorial Lectures. (npsinha@thesynergyonline.com) FCm TO TARGET NEW REGIONS FOR ITS GLBOAL SOLUTION PROGRAMME Thesynergyonline Corporate Bureau NEW
DELHI, AUG 20 : "With the continued growth of our worldwide network and client base, we are aiming to further expand our global hotel programme in 2009 to ensure we have ample product to meet our clients' needs", said Joe McCormack, general manager of FCm's global hotel programme. "The main growth areas within our 2008 programme continued to be USA, the Middle East, India, China and South America", he said. "Latin America, Ireland and Russia are the areas where we are particularly keen to build on our base of hotel partners in 2009." The FCm business in Latin America and Caribbean has developed strongly during the past 18 months, and we are experiencing an increase in demand from our clients in that region." "In Ireland, the growing economy is fueling good levels of demand for hotel product, while in Russia; Moscow is recording the highest average room rates globally." Mr. McCormack added that rising hotel rates in many markets around the globe had resulted in more corporate clients working with travel management companies (TMCs) to help leverage their hotel cost savings. "In the SME (small to medium enterprise) market especially. We are seeing an increased focus among corporates on cost control, with more companies looking to FCm for competitively negotiated low rates. There is a growing awareness in this market segment of the benefits of procuring all accommodation through just one TMC", he said. "In the accommodation industry itself, we are seeing hotel companies looking cautiously to the future given the soaring fuel prices and the global economic focus on the USA and UK. By locking in contracts with FCm, hotel suppliers can be confident of partnering with a TMC that has performed well over recent years and is focused on further expanding our network and business growth during the next 12 months and beyond." Mr. McCormack said dynamic pricing would continue to be a key focus, providing hotels with the opportunity to shift rates as needed. "Flexible pricing will be used by many hotels so they can deal with certain market conditions and fluctuate their rates to fit in with any challenges as required. FCm is looking to work closely with those companies willing to offer BAR (best available rate) and any further discounts, so we can offer our clients globally competitive rates." Mr. McCormack said FCm was aiming to expand its hotel partner portfolio not only in terms of size, but also in the blend of hotel product it could offer corporate clients. "In light of the growing corporate interest in boutique properties, we are looking to partner with individual, stand alone hotels just as much as the larger chains", he said. "We will be selecting a range of hotel product on a global level to meet the need of our travelers. It is our aim to have a diverse and competitive spread of hotel inventory throughout the world." (npsinha@thesynergyonline.com) TOLL TECH BAGS THREE PROJECTS FOR RS 28.05 CRORE Thesynergyonline Corporate Bureau NEW
DELHI, AUG 20 :
For the Chennai IT Expressway, a multi plaza toll system on the IT corridor in Chennai, Efkon will ensure that the toll collections are performed in the most efficient manner and that road users will have a smooth and quick experience while paying toll, around the six lane highway. The system includes the facility of electronic tolling based on Efkon’s superior Infra-red technology, which will allow road users to pay toll non--stop while driving through the plaza. The company will install database system that automatically share information over several toll plazas for tracking vehicles entering and crossing the corridor.
Says Pushkar Kulkarni, Chief Executive Officer, Efkon India, “The company provides toll management systems and services to various projects .”
Besides , the company will also supply its toll and traffic management system to Bangalore Elevated Tollway located in India’s silicon valley connecting Bangalore City to Electronic City by an Elevated Road and towards Hosur in Tamil Nadu by the Ground Level Road. This project is is co-promoted by Indian infrastructure majors of Nagarjuna Constructions, Soma Enterprises and MAYTAS Infrastructure. The company will set tolling systems for six plazas and Highway Traffic Management System for the Elevated and Ground Level Roads over 25 Kms stretch. The total number of lanes would be 34 of which 13 will be ETC lanes.
Efkon India will also set up toll and WIM (Weigh in Motion) systems for four plazas on the Surat – Dahisar Stretch and would provide complete system integration solution besides overseeing the maintenance of this stretch. The expected time of completion is November 2008.This project would include 72 lanes with each plaza comprising 18 lanes. This project is expected to be completed by April 2009. The company has signed the contract with IRB Surat - Dahisar Tollway , subsidiary of IRB Infrastructure Developers for Surat - Dahisar project, which is being done in consortium with Deutsche Bank.(npsinha@thesynergyonline.com) |
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