Page 36 - Companies

How can you spot greenwashing in advertisements, product packaging?

Broadly speaking, it's when companies questionably claim environmental bona fides to attract more business or draw less scrutiny

Srinivasan K Swamy elected as chairman of Audit Bureau of Circulations

Srinivasan K Swamy, executive chairman of R K Swamy Hansa Group, currently serves as the chairman of the Asian Federation of Advertising Associations

SpiceJet clears $1.5 million payment due to Credit Suisse after SC warning

On September 12, the apex court asked Singh to pay $500,000 towards an instalment to the Swiss firm along with a $1 million defaulted amount

Yatra Online mobilises Rs 348 cr from anchor investors ahead of IPO

Online travel company Yatra Online on Thursday said it has mobilised Rs 348.75 crore from anchor investors ahead of its Rs 775-crore initial public offering (IPO). The company has allocated 2.49 crore equity shares to 33 entities at Rs 142 apiece, according to a circular uploaded on the BSE website. ICICI Prudential Mutual Fund (MF), Mirae Asset MF, Tata MF, Bandhan MF, Max Life Insurance, Bajaj Allianz Life Insurance, Massachusetts Institute of Technology, Morgan Stanley Asia (Singapore) Pte, Goldman Sachs (Singapore) Pte, Bofa Securities Europe SA, Societe Generale, BNP Paribas Arbitrage and Quantum State Investment Fund are among the anchor investors. The company has fixed a price band of Rs 135-142 per share for its maiden public issue, which will open for public subscription on September 15-20. At the upper end of the price band, the IPO will fetch up to Rs 775 crore. The IPO comprises fresh issuance of equity shares worth Rs 602 crore and an Offer for Sale (OFS) of up to ...

G20 Sustainable Finance Working Group aims to mobilise sustainable finance

To ensure global growth and stability, the G20 Sustainable Finance Working Group (SFWG) has proposed to mobilise sustainable finance to promote the transition towards greener, more resilient and inclusive societies and economies. The main purpose of the Group, which concluded its fourth and last meeting under India's G20 presidency on Thursday, is to advance international work to help scale up private and public sustainable finance and in doing so, accelerate the implementation of the Paris Agreement and 2030 Agenda for Sustainable Development. The G20 Sustainable Finance Roadmap, as finalized in 2021, is the core around which the SFWG functions and takes up future work, the finance ministry said in a statement after conclusion of 2-day meeting in Varanasi. Towards this end, the SFWG in 2023 carried out work for enabling finance for SDGs along with the mobilisation of timely and adequate resources for climate finance as agenda priorities, it said. The SFWG during India's G20 ...

MasterCard appoints former SBI chief Rajnish Kumar as chairman

Veteran banker will have non-executive advisory role and guide Mastercard's South Asia executive leadership team

FSSAI introduces Hindi version of FoSCoS portal to enhance user experience

The Food Safety and Standards Authority of India (FSSAI) has taken a significant leap towards enhancing user experience

Strides Pharma arm gets USFDA tentative nod for generic HIV treatment drug

Strides Pharma Science Ltd on Thursday said its wholly-owned subsidiary Strides Pharma Global Pte Ltd, Singapore, has received tentative approval from the US health regulator for generic Dolutegravir tablets used in the treatment of HIV. The approval granted by the US Food & Drug Administration (USFDA) is for Dolutegravir tablets of strength 50mg, Strides said in a statement. The Abbreviated New Drug Application (ANDA) is tentatively approved under USFDA's expedited review provision for the President's Emergency Plan for AIDS Relief, thereby qualifying the company to participate in global donor-funded programmes that procure this lifesaving medicine, it said. The medicine is supplied in 126 countries, it added. "As of full year 2022, donor procurement for Dolutegravir 50mg tablets is estimated at a value of USD 35 million. This product further strengthens the available offerings in HIV treatment from Strides," the company said. The approval adds to a list of products that Strides

Agilitas Sports to buy sports footwear manufacturer Mochiko Shoes

Agilitas Sports, co-founded by former Puma India & South East Asia MD Abhishek Ganguly, on Thursday announced it will acquire Mochiko Shoes for an undisclosed amount. Agilitas Sports is a sportswear and Athleisure solutions platform while Mochiko is the country's largest sports footwear manufacturer. Mochiko's clientele includes leading international brands such as Adidas, Puma, New Balance, Skechers, Reebok, Asics, Crocs, Decathlon, Clarks and US Polo and is their manufacturing partner. "Mochiko's manufacturing capabilities, operational excellence and strategic partnerships with leading global giants, positions us to address the government's clarion call to 'Make in India', and to cater to the rising aspirations of an economic superpower, with the largest youth population," Agilitas Sports CEO & Co-Founder Abhishek Ganguly said. Earlier this year, Ganguly left Puma India along with its executive director for sales and operations Atul Bajaj and CFO Amit Prabhu and they founded

Schneider Electric Infra board appoints Udai Singh as CEO, MD for 3 yrs

Schneider Electric Infrastructure board on Thursday appointed Udai Singh as its additional director, managing director and chief executive officer for three years. "Board of Directors of the company in their meeting held today, i.e. September 14, 2023, have inter-alia, considered and approved the appointment of Udai Singh as an Additional Director, Managing Director (MD) & Chief Executive Officer (CEO) of the Company, for a consecutive period of three (3) years from September 15, 2023, subject to the approval of shareholders of the company," a BSE filing said. Over the last 30+ years, Singh has held various roles in the areas of sales, marketing, projects and contract management, and manufacturing operations. Prior to his current role as Electrical Systems Equipment (ESE) - BU VP, Singh was heading Sales & After Sales for India, SAARC & Africa along with key account management. Singh holds a bachelor's degree in electrical engineering from IIT Varanasi and has undertaken ..

Adani's 5.2 MW wind turbine listed in RLMM; can produce for global markets

Adani Wind announced that its 5.2 MW wind turbine generator (WTG) has been enlisted in the Revised List of Models and Manufacturers

Sun Pharma, Pharmazz enter agreement to introduce Sovateltide in India

Sun Pharma said in a filing that it has been granted rights for marketing Sovateltide in India under the brand name Tyvalzi

Citigroup prepares for job cuts as it revamps top management structure

The moves will result in a number of job cuts, though the company doesn't yet have firm targets for how many employees will be affected

Zaggle Prepaid Ocean Services raises Rs 253 cr from anchor investors

The company has allocated 1.54 crore equity shares to 23 entities at Rs 164 apiece, according to a circular uploaded on the BSE website

DMRC, BEL ink deal for indigenous communication-based train control system

The Delhi Metro Rail Corporation and Bharat Electronics Limited (BEL) on Wednesday joined hands to develop an indigenous communication-based train control (i-CBTC) system, officials said. The team has commenced work at the i-CBTC lab of the Delhi Metro Rail Corporation (DMRC) and will soon develop and deploy a prototype i-CBTC product on a designated test track within the DMRC network, they said. With this partnership, the Delhi Metro and BEL are set to usher in a new era of rail transportation in India, driving innovation, reducing costs, and fostering self-reliance in the field of train control signalling systems, the DMRC said in a statement. A memorandum of understanding (MoU) was signed in the presence of Vikas Kumar, Managing Director of the DMRC. This groundbreaking partnership is aligned with the 'Make in India' initiative, championed by the Government of India under the Ministry of Housing & Urban Affairs, the statement said. The i-CBTC project signifies a significant ...

Amazon Web Services signs pact with Isro, IN-SPACe to advance capabilities

Amazon Web Services (AWS) has signed a memorandum of understanding with ISRO and IN-SPACe to support space-tech innovations through cloud computing. The collaboration with ISRO and Indian National Space Promotion and Authorization Centre (IN-SPACe) is aimed at giving space startups, research institutes and students access to cloud technologies through AWS Activate for new solutions in the space sector, AWS said in a statement on Wednesday. The collaboration follows the approval to Indian Space Policy, 2023 in April by the government which provides a strategic roadmap for the growth and development of India's space programme using cloud computing, data, Artificial Intelligence and Machine Learning. AWS India and South Asia Director and Chief Technologist, Public Sector, Shalini Kapoor said the company is committed to helping startups identify use cases and accelerate solution development, and build a strong talent pool in India with expertise in cloud and space. "Cloud computing-led

Adani-Hindenburg row: Former contractor witness to how money was shifted

Ajay Kumar Agarwal has sought permission from the Supreme Court to intervene in the investigations by the Sebi against the Adani Group

Byju's hid $533 mn in hedge fund once run from Miami IHOP, allege lenders

"Byju's has gone to great lengths to conceal the whereabouts of borrower's $533 million for the admitted purpose of hindering and delaying" creditors, they argued in Miami-Dade County court filings

Ahead of IPO, RR Kabel collects over Rs 585 cr from anchor investors

TPG-backed wires and cables manufacturer RR Kabel Ltd on Tuesday said it has mobilised Rs 585.62 crore from anchor investors ahead of its initial share sale. The company has allocated 56,58,201 equity shares to 54 entities at an average price of Rs 1,035 apiece, according to a circular uploaded on the BSE website. HDFC Mutual Fund, Axis Mutual Fund, Nippon India Mutual Fund, Aditya Birla Sun Life Mutual Fund, SBI Life Insurance, HDFC Life Insurance Company, Abu Dhabi Investment Authority, Morgan Stanley Asia (Singapore) Pte, Elara India Opportunities Fund, and Government Pension Fund Global are among the anchor investors. RR Kabel's Rs 1,964 crore Initial Public Offering (IPO) which comprises a fresh issue of shares worth up to Rs 180 crore and an offer for sale (OFS) of over 1.72 crore shares by promoters and other external shareholders opens for public subscription on Wednesday. Through the OFS, the promoters/promoter entities will sell 3-4 per cent of their holdings but will sti

India Inc faces costlier borrowing as corporate-govt yield gap widens

The yield spread between the AAA-rated 5-year corporate bond and the 5-year government bond narrowed by 7 basis points in August