Page 9 - It Industry

IT solution provider Mouri Tech files IPO papers to raise Rs 1,500 crore

IT solution provider Mouri Tech has filed preliminary papers with markets regulator Sebi to raise Rs 1,500 crore through an initial public offering (IPO). The Hyderabad-based company's proposed IPO comprises a fresh issue of equity shares worth Rs 440 crore, and an offer-for-sale (OFS) of shares worth Rs 1,060 crore by promoters and an existing shareholder, according to the draft red herring prospectus (DRHP). The offer includes a reservation for subscription by eligible employees, Under the OFS, promoters Sujai Paturu, and Anil Reddy Yerramreddy will be selling shares worth Rs 615 crore, and Rs 316 crore, respectively. Further, existing shareholder Srinivasu Rao Sandaka intends to offload equity shares valued Rs 129 crore. The company may consider raising Rs 88 crore in a Pre-IPO Placement round. If such placement is completed, the fresh issue size will be reduced. Proceeds from the fresh issue to the tune of Rs 165 crore will be used for debt payment of its subsidiary MT USA an

Beetel Teletech to distribute US-based Cambium Networks' solutions in India

Technology service provider Beetel Teletech on Thursday said it has partnered with NASDAQ-listed Cambium Networks to distribute networking solutions in India. As part of this partnership, Beetel will distribute Cambium's comprehensive portfolio of advanced networking solutions like fixed wireless, networking switches, wi-fi, fibre, security, SD-WAN and licensed frequency solutions. "This partnership represents a pivotal step towards securing a strategically advantageous position in India's rapidly expanding networking market. With projections indicating that 60 to 65 per cent of Indians will likely have internet access by 2025, Cambium's advanced technologies will provide us with the essential tools to meet the evolving demands of India's digital infrastructure and drive transformative growth," Beetel Teletech MD and CEO Sanjeev Chhabra said. Beetel offers its services through 10,000 retailers and 500 distributors in India. Its partner base includes companies like Avaya, HP, Samsung

The fab game: Meity timeline for commercial chip production in the works

Micron's Sanand unit could be the first to bring out 'made-in-India' chips by Aug 15 next year

IT major TCS retains position as India's most valuable brand: Kantar

With a brand value of $49.7 billion, TCS has seen a 16 per cent rise compared to last year, driven by investments in innovation, particularly in artificial intelligence (AI) and digital transformation

Global tech body concerned over future after import mgmt scheme expires

ITI represents 80 technology firms around the world, including giants like Apple, Amazon, Google, Dell, Microsoft, and Tata Consultancy Services

Wipro announces 8% salary hikes for top performing employees in 2024

Wipro's salary this year improves upon the average 6% hike given to top performers at the IT firm last year

Capgemini opens Esop plan to 97% employees, including 175k staff in India

This is the eleventh edition of the IT major's employee share ownership plan after the previous one from 2019 is set to expire at the end of the year

IT policy set to roll in by year-end with focus on GCC, jobs, research

New framework likely to keep a short-term target of 3 to 5 years

Tech layoffs 2024: Tech companies lay off over 27,000 employees in August

Tech layoffs: Major IT firms such as Intel, IBM, and Cisco have laid off over 27,000 employees across the globe in August 2024

LTIMindtree and L&T Technology Services plug into high-growth nodes

Strategic reboots and fresh opportunities drive broker upgrades for the two L&T subsidiaries

Meity plans jobs push in proposed electronic components PLI scheme

The component scheme aims at adding value to electronics finished products from mobile devices, laptops, PCs and servers, among others

TCS launches Pace Studio in Philippines to drive digital innovation

TCS Pace Studio in Manila, the fifth of its kind globally, is part of an extensive innovation ecosystem of TCS Pace spanning major global cities

Nasscom announces SAP Labs India MD Sindhu Gangadharan as chairperson

IT industry body nasscom on Monday announced the appointment of SAP Labs India Managing Director Sindhu Gangadharan as its chairperson with immediate effect. Gangadharan takes the chair from Rajesh Nambiar, who has been appointed president-designate for nasscom (National Association of Software and Service Companies). "Nasscom has played a pivotal role in propelling India's emergence as a global innovation leader. With our nation's robust engineering R&D capabilities, innovative potential, and extensive digital talent pool, India is well-positioned to spearhead large-scale digital transformations that are sustainable and inclusive," she said. The first woman to lead SAP Labs India, Gangadharan was appointed as the Chair for nasscom GCC Council last year. A board member of Siemens India and Titan Company, she is also a member of the Steering Committee of the Indo-German Chamber of Commerce. Last week, Nambiar stepped down from IT firm Cognizant as its India MD and chairman. The ...

72% employers intend to hire freshers in second half of 2024: Report

The study also highlighted that employers were particularly seeking candidates with skills in cybersecurity, cloud computing, data analytics, and search engine optimisation

India's data centers to add 500 MW capacity in 4 years: Avendus Capital

The report, *Powering Digital India* Volume II, stated that the sector doubled from 540 MW in 2019 to 1,011 MW in 2023, making India one of the fastest-growing data centre markets globally

NITES files complaint against Infosys over delayed joining of 2k freshers

NITES alleged that despite fulfilling all requirements on their part, these professionals have been kept in limbo for more than two years, causing immense frustration, anxiety, and uncertainty

Demand for Indian AI talent to double by 2027 but quality a hurdle: Report

It proposes industry-academia-government collaboration to improve skilling around AI

Cognizant clarifies fresher salary issue, says 'grossly misrepresented'

The IT firm faced significant online backlash over the internet for its low fresher salary offering, with many comparing it to 2002 levels

Wipro expands partnership with Google Cloud to adopt AI tech Gemini

Wipro integrates Gemini models within its FullStride Cloud Studio Platform, and enables its associates on Google Cloud's latest GenAI tools

Govt to not give any relaxation in its Rs 32,000 cr GST demand on Infosys

Shares of Infosys, which were up 1.6% before the news amid a broader market rebound, briefly trimmed gains to about 0.3%