Dec 23, 2023 | Uncategorized
On National Farmers Day, Vedanta Aluminium, India’s largest producer of aluminium, reiterates its commitment to creating wider avenues in socio-economic growth for the advancement of India’s rural communities. The company is actively engaging with the farming community through several initiatives designed to ensure dignified livelihoods, enhance knowledge of farming techniques, boost sustainable agriculture practices and build circular economy. Over 10,000 farmers have benefitted from these efforts, which are catalysing positive transformation among rural communities in Odisha and Chhattisgarh.
Recognizing the pivotal role farmers play in the nation’s holistic progress, the company is also augmenting the infrastructure available to the members of the farming community through grassroot initiatives such as the Jeevika Samridhhi program deployed at Jharsuguda, Odisha and the Mor Jal Mor Maati initiative in Korba, Chhattisgarh. In addition, Vedanta Aluminium has also conducted trial runs of biodiesel, which helps create additional revenue for farmers as it is commonly derived from organic matter such as crop residue. These initiatives are strategically designed in alignment with the United Nations Sustainable Development Goals (SDGs), particularly ‘No Poverty’ (SDG 1), ‘Decent Work and Economic Growth’ (SDG 8), ‘Industry, Innovation, and Infrastructure’ (SDG 9), and ‘Climate Action’ (SDG 13).
The Jeevika Samridhhi program has been deployed in the vicinity of Vedanta Aluminium’s mega aluminium operations in Jharsuguda, Odisha. It aims to introduce small-scale farmers to more efficient methods of farming. The third phase of the project was launched recently, cumulatively impacting nearly 1000 rural households through a focus on climate-smart practices and integrated organic farming practices for enhanced agricultural yield.
The Mor Jal Mor Maati initiative has been implemented by BALCO, India’s iconic aluminium producer based in Korba, Chhattisgarh, to help revolutionize farming in its nearby communities. The project has reached a total of 32 villages and positively impacted the lives of over 3600 farmers. Nearly 30% of these farmers constitute a young demographic of 18-35 years, encouraging youths to embrace farming as a viable profession. It centres on advancing sustainable and contemporary agricultural practices, improving water management practices by constructing and renovating water structures, endorsing horticulture and non-timber forest produce initiatives, and institutionalizing farming practices through a Farmer Producer Organization. Additionally, the project includes establishing a dedicated Vedanta Agriculture Resource Centre equipped with training and demonstration fields for farmers.
Furthermore, at its Lanjigarh alumina refinery in Odisha, the company has successfully conducted trial runs for using biodiesel as a sustainable fuel alternative for commercial vehicles. It will foster the productive cultivation of biofuel feedstocks and a sustainable market for biofuel crops. The company has also integrated biomass briquettes made from agricultural residue as per the guidelines of Ministry of Power, Government of India into its energy mix. It will help curb the burning of agricultural residue which has a serious negative impact on the environment. Such initiatives help augment the income of farmers through the creation of additional revenue streams, and thereby circular economy.
Moreover, the company is playing a pivotal role in establishing crucial infrastructure such as tubewells, borewells, ponds, and percolation tanks, ensuring that local communities have access to water round the year for both household and irrigation purposes. In FY23 alone, Vedanta Aluminium restored over 40 water bodies near its operations. These efforts have been enabled by a remarkable 45% surge in the company’s community investments in FY23 compared to the FY21 baseline.
Vedanta Aluminium, a business of Vedanta Limited, is India’s largest producer of aluminium, manufacturing more than half of India’s aluminium i.e., 2.29 million tonnes in FY23. It is a leader in value-added aluminium products that find critical applications in core industries. Vedanta Aluminium ranks 2nd in the Dow Jones Sustainability Index (DJSI) 2022 world rankings for aluminium industry, a reflection of its sustainable development practices. With its world-class aluminium smelters, alumina refinery and power plants in India, the company fulfils its mission of spurring emerging applications of aluminium as the ‘Metal of the Future’ for a greener tomorrow. www.vedantaaluminium.com
Dec 23, 2023 | Uncategorized
Awfis Space Solutions Limited has filed its Draft Red Herring Prospectus (“DRHP”) with market regulator Securities and Exchange Board of India (“SEBI”). As of June 30, 2023, Awfis holds the position of the largest flexible workspace solutions company in India, based on the total number of centers, according to a CBRE Report.
The Company’s initial public offering comprises a fresh issue of up to ₹1600 million and an offer for sale of equity shares of up to 10,023,172 equity shares.
The offer for sale comprising up to 5,011,586 equity shares by Peak XV Partners Investments V (formerly known as SCI Investments v) (“Peak XV” or the “promoter selling shareholder”), up to 4,936,412 equity shares aggregating by Bisque Limited and up to 75,174 equity shares by Link Investment Trust.
The company proposes to utilize the Net Proceeds from the offer towards Funding capital expenditure towards establishment of new centers, funding for the working capital requirements, and general corporate purposes.
ICICI Securities Limited, Axis Capital Limited, IIFL Securities, Emkay Global Financial Services Limited are the Book Running Lead Managers to the issue.
Evolving from a co-working space, Awfis has transformed into an integrated workspace solutions platform, with its core offering encompassing flex workspaces, customized office spaces, and mobility solutions. In addition to co-working solutions, Awfis has developed capabilities in design, construction, maintenance, and management of flexible workspace requirements, exemplified by Awfis Transform and Awfis Care. The company also provides allied services, including food and beverages, IT support, and infrastructure services such as storage and customization, along with event hosting and meeting arrangements.
Awfis offers a comprehensive range of flexible workspace solutions, catering to diverse needs, from individual flexible desk requirements to customized office spaces for start-ups, SMEs, and large corporations. The company’s flexible workspace solutions cover various seat cohorts, ranging from a single seat to multiple seats, available for clients to contract for durations spanning one hour to several years.
The company is ranked 1st among the top 5 benchmarked players in the flexible workspace segment and has a presence in 16 cities across India. Additionally, Awfis is present in the maximum number of micro-markets in India. With 136 total centers in 16 cities, Awfis provides a total of 81,433 seats, covering a chargeable area of 4.12 million sq. ft. Among these, 15 centers with 11,191 seats are currently under fit-out, with a chargeable area aggregating to 0.53 million sq. ft. (Source: CBRE Report).
The Managed Aggregation (MA) model is more collaborative in nature, wherein Awfis space owners become a stakeholder in the center by co-investing in the fit-out infrastructure. The developers or space owners typically incur capital expenditure on fit-out, in part or full, the remainder being borne by the operator, if any, depending on other terms of the MA model, often foregoing a fixed rental for a component of Minimum Guarantee (MG) on a case-to-case basis and may take up a share of the revenue/profit on pre-negotiated terms. Most of their MA arrangements are structured on a profit or revenue sharing model due to the risk of capital being largely borne by the space owner. Over the years, Awfis has increased their focus on the lower-risk, asset light MA model and as of June 30, 2023, 64.96% of their centers are under the MA model, based on total seats.
Awfis’s Platform Approach strategy spans the major facets of modern workspace requirements, i.e., through backward integration with Awfis Transform by offering design and build services to clients and through forward integration with Awfis Care by providing facility management services on behalf of space owners. This integrated platform strategy provides a network effect, wherein each segment not only serves its primary clientele but also complements Awfis’s other segments. As a result, Awfis’s clients and space owners are introduced to their wider ecosystem, thereby enhancing retention and driving cross-selling opportunities. The Awfis ecosystem caters to differentiated client needs to provide unmatched ease to the clients. The synergy among these provides their clients and space owners a seamless experience.
Dec 23, 2023 | Uncategorized
Star Sports, the official broadcaster of the Pro Kabaddi League, has notched up significant viewership figures building on a strong start at the opening weekend, solidifying its status as the second most popular sport in the country. According to BARC, Star Sports reached an astounding 158 million viewers in the first 24 matches of the tournament, marking an impressive growth of 20% compared to the previous season. The watch time during this period increased by 25% to 12.8 billion minutes compared to the last edition. The broadcaster also witnessed a remarkable growth of 28% in TVR compared to season 9, reflecting the growing interest and enthusiasm among fans for the high-octane action that Pro Kabaddi League delivers.
A Star Sports Spokesperson said, “We are thrilled to witness the overwhelming response and would like to thank fans for their continued love for the sport. Pro Kabaddi League holds a special place in the hearts of millions, and the increasing viewership numbers are a testament to the league’s popularity. The fast-paced matches and nail-biting endings have kept fans on the edge of their seats.”
The Pro Kabaddi League has become a cultural phenomenon in India, showcasing the indigenous sport at its best and providing a platform for athletes to shine on the national stage. Star Sports Network remains committed to delivering unparalleled sports entertainment, and these remarkable viewership figures demonstrate the unwavering support and passion of the Indian audience for Pro Kabaddi.
Dec 23, 2023 | Uncategorized
On the occasion of Kisan Diwas 2023, Godrej Agrovet Limited, one of India’s largest diversified agri-business, released a brand film to thank Indian farmers. The film, titled #KisanSeHumHai, is a heartfelt tribute to recognize the integral role our farmers play in feeding the nation.
Conceptualized and executed by the Corporate Brand and Communications team at Godrej Industries Limited and Associated Companies along with Creativeland Asia, the film showcases appreciation that Godrej Agrovet has towards the Indian farmers and its pledge to help uplift the farming families.
To watch the video:
On the launch of the brand film this Kisan Diwas, Balram Singh Yadav, Managing Director, Godrej Agrovet Limited, said, “At Godrej Agrovet, we stand shoulder-to-shoulder with our farmers who ensure that our nation is well-fed. The film is a sincere acknowledgment of the hard work and selfless nature of farmers. Being the backbone of our nation, their well-being is not just our goal, it’s our foundation. Hence, on behalf of the entire team of our company, I extend our gratitude to them and salute their dedication.”
Representing the collective voice of the leadership team, all of them pledged steady support to farmers in various domains.
Burjis Godrej, Executive Director emphasized the company’s objective to meet farmers’ needs which is the core purpose and passion of the company. Rajavelu N.K., CEO – Crop Protection Business, highlighted how company ensures every seed sown by the farmer flourishes to make thriving nation and also uplift the farming families. Sandeep Kumar Singh – CEO, Animal Feed Business, focused on animal care, watching over livestock thereby sustaining India’s protein needs. Bhupendra Suri, CEO – Godrej Jersey, the dairy business of Godrej Agrovet Limited, celebrated the spirit of dairy farmers who take care of country’s nutrition while the company ensured their cattle’s well-being and support for their journey to prosperity. Sougata Niyogi, CEO – Oil Palm Business, highlighted company’s efforts to champion sustainable oil palm farming in the country thereby reducing India’s dependency on oil palm imports and most importantly safeguarding farmers’ profits.
Anu Joseph, Co-Founder and Creative Vice-Chairman, Creativeland Asia, said, “Godrej Agrovet wanted to express their gratitude to men and women who grow the food that’s put on our table. So, we wrote an ode to farmers on Kisan Diwas. And what can be better than the team at Agrovet themselves narrating it.”
The Godrej Group has consistently worked directly with farmers, providing support for better returns through knowledge, superior technologies, and innovative processes. At Godrej Agrovet, the team has been at the forefront of innovation since 1991, striving to improve farm productivity and help feed our nation.
Dec 23, 2023 | Uncategorized
The vibrant state of Goa is set to become the epicenter of global energy discussions as it gears up to host the second edition of the prestigious India Energy Week (IEW) from 6 to 9 February 2024. The event, to be held at the ONGC Institute of Petroleum Safety, Health and Environment Management (IPSHEM) in the southern part of the state, is expected to attract over 35,000 participants from more than 100 countries.
Building on the success of its debut edition earlier this year, inaugurated by the Hon’ble Prime Minister of India Narendra Modi, IEW 2023 garnered widespread acclaim for showcasing India’s resilience in the energy sector. This grand scale event drew nearly 37,000 attendees from 149 countries, featured 326 companies in exhibitions, and hosted 315 speakers in over 80 conference sessions.
The site map ONGC IPSHEM unveiled at the India Energy Week 2024 Press Conference
Organized by the Federation of Indian Petroleum Industry (FIPI) under the aegis of the Ministry of Petroleum and Natural Gas, Government of India, IEW 2024 is poised to be a catalyst for meaningful discussions, knowledge exchange, and collaboration among industry experts, policymakers, academia, and entrepreneurs.
IEW 2024 is poised to be a global powerhouse event, boasting a projected turnout exceeding 35,000 participants, with representation from 100+ countries. With over 350 exhibitors, 400 speakers, and 4,000 delegates, the conference will delve into diverse themes during ministerial, leadership, technical sessions, and roundtable discussions. These sessions will explore critical topics such as energy transition, the development of a future-ready energy stack, the significance of alternate fuels, and the profound impact of localization, regionalization, and globalization on energy-related industrialization. Goa’s administration, in collaboration with the Ministry of Petroleum and Natural Gas, is actively ensuring the event’s seamless execution and environmental responsibility. In an effort to reduce the carbon footprint, 40 electric buses will be deployed, waste disposal locations identified, and additional traffic police personnel will be on hand to facilitate local commuting, reflecting a commitment to eco-friendly practices.
Director General of FIPI Gurmeet Singh emphasized, “The spotlight at IEW 2024 will demonstrate India’s intricate energy landscape, characterized by a diverse energy mix, rapid growth in renewable energy, challenges related to energy access, urbanization, and economic development, all within the context of addressing climate change.”
Executive Director & Head of ONGC IPSHEM Sanjeev Singhal added, “IEW will also provide a tremendous increase in tourist footfalls, with over 35,000 people visiting the beautiful state of Goa. We are working very closely with the Government of Goa, which is extending all cooperation to have world-class infrastructure support, traffic management, among other things.”
Director General of the Press Information Bureau (PIB) Rajeev Jain highlighted, “IEW 2024 builds on the first edition of IEW, inaugurated by the Hon’ble Prime Minister, Shri Narendra Modi, who underscored the unprecedented possibilities emerging in India’s energy sector. This time we will ensure that the event will foster partnerships, drive innovation, and explore solutions that will propel India’s energy sector into a sustainable and vibrant future.”
India Energy Week, 2024 promises to be a global stage for showcasing India’s leadership in addressing the dual challenges of energy security and energy transition, providing a template for a prosperous and sustainable world.
Dec 23, 2023 | Uncategorized
Tata Power, India’s largest integrated power company, has signed an Memorandum of Understanding (MoU) with the Skill Development and Technical Education Department of the Odisha government to impart industry-relevant training to students enrolled in Industrial Training Institutes (ITIs). These ITIs are located across the license area of the four Discoms which Tata Power runs on a public-private partnership model with the Government of Odisha. The initiate is in-line with the state governments ‘Skilled in Odisha’ programme.
The MoU was signed by Mr Reghu G, IAS, Director of Technical Education and Training, and Mr Sanjay Banga, President of Transmission and Distribution at Tata Power in Bhubaneswar, in the presence of Smt Usha Padhee, IAS, Principal Secretary of the department, Sri Gangadhar Sahoo, IAS, OSD cum Additional Secretary, Sri Tapan Kumar Satapathy, OAS (SAG), Additional Secretary to the government and other senior officials .
The MoU is a collaborative initiative between Tata Power and the Odisha government to empower the young talent in the state and make them industry-ready through targeted programs. Covering 20 ITI’s in the first year, as part of this initiative, Tata Power intends to impart an exclusive program designed to enhance the skills of students enrolled in these ITIs. These programs are specifically tailored to improve their employability and get better placement opportunities in the power sector, aligning with the evolving needs of the industry. Mr Budhish Kumar Behera, Head of Learning and Development at Odisha DISCOMs, has been designated as the Nodal Officer for this program.
Mr Sanjay Banga, President – T&D, Tata Power, said, “Tata Power is happy to collaborate with the Government of Odisha to provide the local youth with skills and opportunities necessary for fulfilling their aspirations and ambitions. We take pride in our role in making ‘Skilled in Odisha’ programme a great success by creating an enabling environment for the youth to thrive and excel in the power sector. We are excited to contribute to the growth of technical education in Odisha. ”
To ensure the success of this initiative, Tata Power will design and share modules covering essential skills and knowledge required in the power sector, experienced professionals from the company will conduct training sessions to provide practical insights and guidance to the students and as part of the program, students will visit Discom’s hands on training centre to get field experience of executing daily work in safe and efficient way. In addition to this they will also visit network control centre, Smart Meter Lab, 33/11 KV Sub-station to have better understanding of power sector equipment.
