Author: Rabindra

Livpure raises over INR 233 cr from M&G Investments and Ncubate Capital

Mumbai, August 28, 2024: Livpure, one of India’s leading and trusted customer durable brands, announced that it has obtained an investment of INR 208 cr funding from M&G Investments through its Catalyst investment strategy and around INR 25 cr from Ncubate Capital Partners.

This funding round marks a significant milestone for Livpure as it embarks on its next phase of growth and expansion. The capital infusion will fuel Livpure’s plans to accelerate category expansion, product development through R&D and innovation, diversify its offerings, enhance its market presence and cater to evolving consumer needs in the home category.

M&G’s Catalyst strategy invests in innovative solutions to some of the world’s biggest environmental and social challenges.

Sharing his views on the investment, Navneet Kapoor, Co-Founder & Chairman, Livpure said, “We are excited to partner with M&G’s Catalyst team to drive our next phase of growth. This investment will allow us to innovate faster, expand our product portfolio, retail presence, and make our high-quality home solutions accessible to more Indians.”

Rakesh Kaul, Managing Director, Livpure, added, “With this investment we will further enhance our focus on developing cutting-edge products that address the growing needs of Indian consumers. We are particularly keen on further enhancing our water-as-a-service offering along with eco-friendly sustainable solutions in home and kitchen offerings.”

Praveg Patil, Head of Asia Pacific – M&G Impact & Private Equity added that, “We are delighted to be investing in Livpure, an innovative leader in the water purifier industry. Core to M&G Catalyst’s mandate is the positive societal impact that our portfolio companies drive. As Livpure strives to reduce the cost of access to clean water, arguably humanity’s most fundamental and vital resource, we are well aligned. This partnership underscores our commitment to sustainable technologies, and we look forward to supporting Livpure’s vision to drive the brand to scale and achieve new milestones.”

InCred Capital acted as the exclusive advisor to Livpure on the fund raise. Ashish Ambwani, Managing Director, InCred Capital said, “This fund raise signifies a new chapter of growth and opportunity for Livpure, which through its water-as-a-service model, has been pioneering innovation in the water purification industry. We are proud to have facilitated this transformative transaction and look forward to an exciting growth story in the years ahead.”

DaveAI Empowers Enterprises with Secure, Scalable AI Solutions

In today’s fast-paced digital landscape, enterprises are constantly seeking ways to enhance their operations, improve customer engagement, and stay ahead of the competition. AI has emerged as a powerful tool to achieve these goals, offering solutions that are not only efficient but also scalable and secure. AI-driven technologies are helping businesses automate processes, personalize customer experiences, and make data-driven decisions, which are crucial for success in modern markets.

 DaveAI is playing a pivotal role in this transformation. By providing secure, scalable AI solutions, DaveAI is helping enterprises across various industries—such as automotive, retail, and banking—integrate advanced AI technologies into their operations. Their focus on innovation ensures that businesses can harness the power of AI to drive growth and adapt to evolving market demands.

 Transforming Customer Engagement with DaveAI Virtual Sales

DaveAI’s Virtual Sales Avatars and Conversational AI solutions offer a subtle yet impactful way for businesses to improve customer engagement. These tools are designed to create more natural, human-like interactions, making the customer journey smoother and more personalized. By understanding customer preferences and offering tailored recommendations, these AI-driven solutions help guide customers through their decision-making process. Whether in automotive, retail, or banking, these avatars are instrumental in boosting conversion rates by ensuring customers feel supported and valued. DaveAI’s approach enables businesses to connect with customers in a meaningful way, fostering loyalty and enhancing overall satisfaction.

 DaveAI’s WhatsApp Chatbot Services: Enhancing Customer Engagement
DaveAI offers comprehensive WhatsApp chatbot solutions designed to elevate customer interactions across various industries. Leveraging advanced AI, these chatbots provide personalized support, answer queries, and guide users through decision-making processes in real-time. Key features include easy-to-follow WhatsApp flows, real-time data synchronization through APIs, and complete control over data access for brands. The platform’s flexibility allows businesses to change and leverage LLM models with minimal effort. Additionally, DaveAI’s affinity engine predicts the next best action in any conversation, maximizing lead conversions. These multilingual chatbots can also be extended to websites or apps with minimal development, making them a versatile tool for improving customer service, driving conversions, and fostering brand loyalty. A dashboard with real-time actionable insights further enhances operational efficiency.

 Comprehensive Security and Seamless Integration for Enterprises

DaveAI places a strong emphasis on security and seamless integration, ensuring that enterprises can trust and easily incorporate their AI solutions into existing systems. Their security protocols are robust, incorporating advanced data protection measures like encryption and compliance with industry regulations to safeguard sensitive information. This focus on security ensures that businesses can adopt AI with confidence, knowing their data is secure.
In addition to security, DaveAI offers seamless integration capabilities through its APIs and SDKs, allowing enterprises to smoothly incorporate AI solutions into their current architectures. This flexibility means that businesses can enhance their operations without the hassle of overhauling their existing systems. DaveAI’s solutions are designed to be adaptable, ensuring they work well with a variety of platforms, making the transition to AI-driven processes as smooth as possible. This combination of security and easy integration positions DaveAI as a reliable partner for enterprises looking to leverage AI effectively.

 Scalability and Customization: AI Solutions Tailored to Industry Needs
DaveAI offers scalable and customizable AI solutions that are designed to meet the specific needs of various industries. Their modular tools, such as the Experience Engine and DaveAssist, enable businesses to adapt AI functionalities to their unique operational goals. The Experience Engine is particularly effective in creating personalized customer interactions, while DaveAssist provides intelligent support powered by AI-driven insights. These solutions are not only customizable but also scalable, allowing businesses to expand their AI capabilities as they grow. Whether a small enterprise or a large corporation, DaveAI’s solutions are designed to scale with demand, making it easier for companies to implement AI in a way that aligns with their business objectives. This adaptability ensures that DaveAI can meet a wide range of industry needs, providing value through tailored AI solutions that enhance efficiency and customer engagement.

 Innovating with AI: DaveAI’s Vision for Tomorrow
DaveAI is committed to staying at the forefront of AI innovation, continuously evolving its solutions to meet the ever-changing demands of the industry. Their vision for the future involves expanding the capabilities of their AI-driven tools to better serve enterprises across various sectors. DaveAI’s roadmap includes integrating more advanced AI technologies that focus on deeper personalization, enhanced customer engagement, and smarter business operations. They are dedicated to exploring new AI possibilities that can drive growth, efficiency, and innovation for their clients.

 By keeping a close eye on emerging industry trends and listening to customer feedback, DaveAI aims to refine and enhance its offerings, ensuring they remain relevant and effective in a rapidly evolving market. Their focus on continuous improvement highlights their commitment to helping businesses leverage AI in ways that are both impactful and future-ready, positioning DaveAI as a leader in the AI solutions space.

Airtel Payments Bank collaborates with Noise and NPCI to unveil its upcoming NCMC-Enabled Smartwatch

New Delhi, 28 August 2024: Airtel Payments Bank in collaboration with Noise, India’s leading smartwatch and connected lifestyle brand, and the National Payments Corporation of India (NPCI), announced the launch of its upcoming cutting-edge NCMC (National Common Mobility Card)-enabled Smartwatch, integrated with the RuPay chip.

The Bank showcased the prototypes of this state-of-the-art smartwatch at the Global Fintech Fest 2024. This innovative smartwatch, conceptualized by Noise, brings the future of payments to the user’s wrist, blending advanced lifestyle features with the convenience of NCMC-enabled Tap and Pay transactions.

This launch marks the second phase of the successful partnership between Airtel Payments Bank and Noise, building on the initial efforts to redefine on-the-go payments directly from their smartwatches. Elevating the experience further, this NCMC-enabled smartwatch is set to augment the potential of smart wearables by integrating seamless transactions into daily lives and redefining the future of connected living.

The Airtel Payments Bank Smartwatch is engineered to revolutionize payments, offering unparalleled ease and accessibility. With NCMC integration, users will enjoy the convenience of Tap and Pay transactions at merchant locations as well as NCMC-enabled transit payments across metro systems, buses, parking facilities and more nationwide. Additionally, it supports the issuance of transport concessions and monthly passes, where applicable, by transport operators, making daily commutes hassle-free.

Crafted with an embedded RuPay chip in the dial, this smartwatch allows users to indulge in a more secure and flexible lifestyle experience. It offers effortless swapping of watchstraps, providing seamless customization to complement any occasion, personal style, or mood.

Ganesh Ananthanarayanan, Chief Operating Officer of Airtel Payments Bank said, “We are delighted to introduce the NCMC-enabled Smartwatch, a product that embodies our commitment to innovation and customer-centric solutions. This smartwatch not only simplifies financial transactions but also enriches the daily lives of our users with its advanced features. We believe this launch will set a new standard in the wearable payment devices market as well.”

Amit Khatri, Co-Founder of Noise, said, “At Noise, we are committed to transforming consumers’ lives meaningfully by relentlessly expanding the capabilities of smart wearables through future-forward innovation. As we enter this second phase of our partnership with Airtel Payments Bank, our collaboration with NPCI marks a significant step forward in this journey. By integrating NCMC into our smartwatch, we are not just unlocking new potential for wearables but also pioneering a new era of digital payments in India.”

Beyond its robust payment features, the Airtel Payments Bank Smartwatch is designed for a dynamic lifestyle, offering a range of functionalities tailored to modern needs. It will soon be available for purchase through both online and retail platforms of the Bank.

Summercool Appliances Hosts Inaugural Distributor Meet in Tashkent, Solidifies Future Strategy and Partnerships

28th Aug, National: Summercool, a leading brand in the home and kitchen appliances industry, successfully concluded its Distributors Meet in Tashkent, Uzbekistan last Monday to promote distributor collaboration and networking. The event, held from August 21st to 26th, 2024, together with key industry players, distributors, and strategic partners from across the globe to engage in productive discussions, explore new opportunities, and strengthen long-term business relationships. The event brought approximately 80+ distributors from various countries and markets.

The core focus of the Distributors Meet was on advancing business strategies that would drive the company’s growth in the coming years. The key sessions included an in-depth discussion of Summercool’s upcoming product lines, enhanced distribution strategies, and how the company plans to capitalize on emerging market trends in the home appliances sector. The brand opted for Tashkent because of its strategic location which offers convenient access for distributors from neighboring regions. Additionally, Summercool also discussed its long-term strategy of sustainable growth, addressing distributor concerns or challenges, discussing growth and expansion potential, while strengthening personal relationships to establish trust and loyalty.

The following days provided opportunities for distributors to further interact with Summercool’s leadership team during an insightful tour. On August 23rd, attendees were treated to a full-day excursion to Samarkand, an iconic city known for its rich history and architectural marvels. This was followed by a thrilling day of exploration in the Chimgan Mountains and Charvak Artificial Reservoir on August 24th, where attendees bonded over outdoor activities, strengthening personal and business relationships alike.

The six-day event was packed with a dynamic schedule that balanced business engagements and cultural experiences. On August 25th, the group had the opportunity to indulge in some leisure shopping at Samarkand Darvoza and Magic City, completing the trip with a final night of celebration before departing for Delhi on August 26th.

According to Sanjeev Kumar Gupta, CMD, Summercool Home Appliances Ltd., “The Distributors Meet 2024 was a tremendous opportunity for us. The event not only strengthened our relationship with our distribution partners but also provided them with a clear roadmap for growth. At Summercool, we have always believed in collaboration, and this meeting allowed us to share our future vision and work together toward achieving greater success in the competitive market. We are confident that through our collective efforts, Summercool will continue to innovate and lead the industry.”

Throughout the trip, the meet focused on business strategies and the future growth of Summercool in the home appliances sector. Summercool shared its plans for the upcoming year, emphasizing innovation and enhanced customer service as the cornerstones of its strategy. The distributors appreciated the open dialogue and a sense of excitement was notable as both sides committed to achieving new milestones.

TECNO’s New Ultra-thin PHANTOM ULTIMATE 2 Tri-Fold Concept Opens Up a World of Big Experiences

New Delhi – August 28, 2024.

Innovative technology brand TECNO today teased its groundbreaking PHANTOM ULTIMATE 2 – an ultra-thin tri-fold concept smartphone that reimagines the large-screen experience in a pocket-sized device. In its folded form, PHANTOM ULTIMATE 2 is the thinnest among existing triple-folding models, measuring just 11mm in thickness. Unfolded, it reveals a giant 10” screen with TDDI technology for the first time in a foldable device. The new concept offers a glimpse into a more immersive, convenient and exciting future foldable smartphone experience. Building on previous designs, it addresses key pain points like hinge durability, camera performance, and software optimization, marking a significant leap forward in foldable innovation.

TECNO’s PHANTOM ULTIMATE 2 revolutionizes large-screen experiences in an ultra-slim design.

Ultra-thin Tri-Fold Design

PHANTOM ULTIMATE 2’s innovative tri-fold screen transforms the device from a standard candy bar smartphone into an incredible tablet-like large-screen device. Crucially, the tri-fold design does not mean a major compromise on thickness, measuring 11mm when folded, thanks to an innovative and thinner hinge that enables existing bi-fold models to achieve a thickness of less than 9mm. The device features the smartphone industry’s thinnest battery cover measuring just 0.25mm thanks to super compressed Titan Advanced Fiber material. Compared to the industry’s current thinnest 0.45mm thickness, this advanced material brings sufficient strength while allowing a thinner form. The streamline camera design also contributes to thinness and lightness without sacrificing image quality, while its position to one side of the device makes it easier to find the center of gravity when holding.

Huge Immersive and Less Creased Screen with Super Durability and Thinner Hinges

Unfolding from a 6.48” candy bar phone into an impressive 10” 4:3 ratio large-screen tablet-style device, PHANTOM ULTIMATE 2 gives users more flexibility to users to use the device as they wish. To support this upgrade in convenience, the device features OLED Touch and Display Driver Integration (TDDI) and an advanced 3K LTPO screen with 392 PPI.

Empowering the tri-fold screen experience is a state-of-the-art hinge design with incredible 2100MPa strength. The hinges can support over 300,000 folds, exceeding most folding devices and offering exceptional device longevity and folding smoothness. The hinges also contribute to the device’s superbly flat screen, minimizing the crease visibility for more immersive viewing pleasure.

Unleashing Versatile Scenarios and Optimized UI for a Cutting-Edge Foldable Experience

PHANTOM ULTIMATE 2 supports screen hovering to open up new possibilities across a diverse range of scenarios, from work to entertainment and daily life. For example, screen hovering with the base of the screen used flat for typing on a keyboard while the upright screen provides a laptop-style display for convenient notetaking in meetings or university lectures. For communicating across language barriers, the device can be folded into tent mode for dual-screen face-to-face real-time AI translation. For everyday browsing, the foldable screen supports multi-window mode to improve efficiency, letting users stay in their game or movie while responding to messages or searching the internet. And for more inventive imagine, users can explore creative unfolded angles enabled by the tri-fold design.

PHANTOM ULTIMATE 2’s advanced software and UI specifically optimized for the tri-fold design further enhance the utility of its cutting-edge hardware. For example, the device supports dynamic wallpapers and adaptive icons that adjust with folding and unfolding, while the UI layout is adapted for diverse use cases such as large-screen viewing and tent mode, as well as having the potential for exciting third-party app adaption.

TECNO’s Latest Advanced Foldable Innovation

PHANTOM ULTIMATE 2 is not the first innovative concept from PHANTOM, the premium technology sub-brand of TECNO that offers the most advanced and stylish technologies to users seeking the best experiences. Previously, the PHANTOM Ultimate rolling screen concept smartphone demonstrated the sub-brand’s exceptional capabilities in advanced screen development.

The new PHANTOM ULTIMATE 2, with its groundbreaking tri-fold design, underscores TECNO’s commitment to exploring and innovating the most advanced new technologies to revolutionize the user experience. The concept brings a new dimension to the relationship between users and their smartphones, creating exciting large-screen possibilities and ushering in a new future of advanced devices. The unveiling of the new concept also paves the way for further progress in the field of TECNO’s foldable device innovation, with its second-generation foldable devices PHANTOM V Fold2 5G and PHANTOM V Flip2 5G scheduled for release soon.

Essentia Series and Verena Hobs by Hafele

Where Style Meets Culinary Excellence

Experience the epitome of culinary excellence with the AUGUSTA AND VERENA BUILT-IN HOBS from the ESSENTIA SERIES. The AUGUSTA HOBS feature FULL BRASS BURNERS, ensuring superior heat distribution for precise cooking results. On the other hand, the VERENA HOBS boast of SEMI-BRASS BURNERS, offering a perfect balance of efficiency and elegance. Both hobs are equipped with cast iron pan supports, providing stability even for larger cookware. With the Flame Failure Safety Device (FFSD) and Electric Auto Ignition, cooking becomes not only effortless but also safe, giving you peace of mind while preparing your culinary masterpieces.

Designed to meet the diverse cooking needs of Indian households, the AUGUSTA and VERENA HOBS are available in 3-burner and 4-burner hob designs, providing flexibility and convenience for any culinary task. Their elegant black tempered glass top adds a touch of sophistication to any kitchen, elevating the aesthetic appeal of your cooking space. Whether you’re simmering spices or stir-frying vegetables, these hobs offer the perfect blend of style and functionality, making every cooking experience a delight.

Raising Superstars Released The First 90% Podcast: Everything About Parenting & Early Childhood Learning & Development

Mumbai, India, 28th August 2024 – RaisingSuperstars , the pioneers in early childhood education, proudly announces the launch of their latest initiative, The First 90% podcast. This incredible series invites audiences on a transformative journey to explore life’s first important steps that shape who we become as adults.

Featuring a diverse range of guests, from renowned artists and educators to elite athletes and neuroscientists, The First 90% brings together some of the brightest minds to consider the long-term impact of childhood development.

Each episode of The First 90% will delve into a unique perspective on how the formative years of childhood affect creativity, intelligence, character and future success. Audiences will hear from artists who explore how early intervention in the arts energizes creative, intellectual and emotional development; teachers providing insights into the importance of basic education, effective instruction, training and creating learning environments and athletes sharing information about how physical activity and early discipline build resilience and development. Not only these, but the podcast will also feature some renowned psychologists who will discuss cognitive, emotional and social development in young children and neuroscientists to shed light on the intricate brain connection of the development between early and lifelong mental health and cognitive abilities. Along with some interesting insights shared by the guests from various different fields of work

This podcast is more than this; it’s a movement. The makers have ensured that every episode brings new insights, challenging listeners to think differently about early childhood and its long-term effects.

“The vision behind The First 90% is to ignite a conversation that transcends traditional boundaries,” said Raghav Himatsingka, Co-founder of Raising Superstars. “We want to challenge how society thinks about early education, parenting, and societal growth by providing thought-provoking content from influential voices. Our goal is to empower individuals with the knowledge to make informed decisions that will shape the next generation.”

The podcast is based on a deeply held belief: much of what we do as adults is based on the beginning of our lives. But these difficult years are often underappreciated in mainstream discourse. Raising Superstars created this podcast to address this gap, and provided listeners with valuable insight into how early experiences shape lifelong outcomes. By highlighting this often overlooked aspect of human development, The First 90% aims to create a deeper understanding of how we can raise future generations for a better tomorrow.

Raising Superstars is dedicated to revolutionizing early childhood education and parenting with innovative, research-backed programs designed to unlock the full potential of every child. With the No. 1 parenting application, The Prodigy Baby App, Raising Superstars empowers parents to nurture their child’s development with ease and confidence. With the new age of digital learning, Raising Superstars provides an incredible scope of screen-free learning for kids, making it a digital learning experience like never before. Ranked as World’s No. 4 EdTech Rising Stars of 2024 by the Times Magazine, Raising Superstars is committed to providing parents and educators with the tools they need to foster early learning and development, Raising Superstars continues to lead the way in shaping a brighter future for the next generation.

Prakruthi Kambam: Beauty Pageant a Platform to Showcase Culture and Empower Youth

Hyderabad, August 28, 2024 – “Beauty pageants are not just about outer appearance; they encompass much more. They are a celebration of beauty and brains, encompassing personality, talent, character, intelligence, and social consciousness. The process includes private interviews with judges and responses to public on-stage questions,” shared Prakruthi Kambam, recently sashed Femina Miss India Telangana 2024, during a media interaction at FTCCI.

Prakruthi Kambam’s journey is a powerful narrative of resilience and growth. A model, actor, dancer, and choreographer with a keen interest in arts and crafts, Prakruthi has channelled her experiences into a multifaceted career. Despite facing personal challenges, she found her strength through dance, sports, and the arts, with nature serving as a profound source of healing.

Carrying the diversity of Telangana, Karnataka and Tamil Nadu, Prakruthi completed her early education in Bangalore and now resides in Hyderabad for her professional pursuits. “Hyderabad holds a special place in my heart as my father’s hometown.” she shared

Prakruthi’s story is one of perseverance and self-discovery. “After enduring years of abuse and questioning my worth, I chose to immerse myself in activities that allowed me to grow positively. This pageant has not only been a personal achievement but has also taught me invaluable life lessons. It has helped me build confidence, enhance my public speaking skills, and instilled a sense of discipline and teamwork. Pageants offer young women an opportunity to engage in community service, charitable work, and personal development. With the support of family, I emerged stronger.”

For Prakruthi, the beauty pageant has been a platform to represent cultural values and traditions on a national stage. “Music is an integral part of my life; it’s something I cannot live without,” she added.

“My ultimate goal is to make a significant impact in society and leave a lasting legacy,” Prakruthi concluded.

When to Invest in a CRM for Your Business By Mr. Sharad Goyal, Founder of Entera

By- Mr. Sharad Goyal, Founder of Entera

As the founder of multiple ventures, including a growing SaaS startup, I’ve learned that timing is everything when it comes to investing in the tools that can drive your business forward. One such tool that has become indispensable in today’s competitive landscape is a Customer Relationship Management (CRM) system. But the question many entrepreneurs grapple with is: when is the right time to implement a CRM? Here’s a guide to help you navigate this crucial decision.

 Early Stage: Laying the Groundwork for Success
Starting a business is a whirlwind of activity, and it’s easy to overlook the importance of organized customer data. However, the early stages of your business are precisely when you should consider investing in a CRM. By establishing a system from the outset, you can create a strong foundation for managing customer relationships as your business grows. A well-implemented CRM ensures that your team is equipped with the tools to track interactions, automate routine tasks, and ultimately, build meaningful relationships with clients right from the start. Tools like ENTERA CRM are designed to help entrepreneurs set this strong foundation, providing a simple yet powerful platform that grows alongside your business.

 Rapid Growth: Scaling with Confidence
Growth is a double-edged sword. While it’s a sign that your business is on the right track, it also brings challenges—particularly when it comes to managing an expanding customer base. As someone who has navigated the complexities of scaling a business, I can attest to the importance of a CRM during periods of rapid growth. A CRM not only helps in automating customer interactions but also ensures that no client slips through the cracks. This allows your team to maintain a high standard of service even as the volume of work increases. Investing in a CRM at this stage can make the difference between growth that’s sustainable and growth that’s chaotic. ENTERA CRM, in particular, is built with scalability in mind, ensuring that as your business grows, your customer relationships remain strong and organized.

 Expanding Offerings: Understanding Your Customers Better
When your business reaches the point where you’re expanding your product or service offerings, understanding your customers becomes even more critical. A CRM can provide the insights needed to tailor your offerings to meet the evolving needs of your market. By analyzing customer interactions across various touchpoints, you can refine your strategies and enhance the overall customer experience. This not only leads to higher customer satisfaction but also drives loyalty and repeat business. ENTERA CRM excels at providing these insights, helping businesses fine-tune their approach and stay aligned with customer needs as they evolve.

 Improving Efficiency: Streamlining Operations
Efficiency is the backbone of any successful business. If you find that your operations are becoming bogged down by manual processes or miscommunication between departments, it may be time to consider a CRM. Implementing a CRM can streamline workflows, foster collaboration, and act as a centralized hub for customer data. This allows your team to focus on what matters most—whether that’s innovating new products or scaling your marketing efforts. The result is a more agile and responsive organization, capable of adapting to market changes swiftly.

 Enhancing Customer Relationships: Building Long-Term Loyalty
At its core, a CRM is about relationships. It’s about showing your customers that you value them, that you’re committed to their success as much as your own. A robust CRM system enables you to deliver personalized service, anticipate customer needs, and foster long-term loyalty. In my experience, businesses that invest in building strong customer relationships are the ones that thrive in the long run.

 Making the Right Choice for Your Business
There’s no one-size-fits-all answer to when you should invest in a CRM. It depends on your business’s stage of growth, the complexity of your offerings, and your operational efficiency. However, when the time is right, choosing the right CRM can be a game-changer. At ENTERA, we believe in empowering our customers to grow and succeed by providing them with the tools and insights they need to build stronger relationships and drive their businesses forward.
By investing in a CRM at the right time, you can set your business on a path to sustained growth, stronger customer relationships, and long-term success.

Gala Precision Engineering Limited’s Initial Public Offering to open on Monday, September 02, 2024

Chennai, August 28.08.2024: Gala Precision Engineering Limited is a precision component manufacturer of technical springs like disc & strip springs (“DSS”); coil & spiral springs (“CSS”) and special fastening solution (“SFS”), has fixed the price band of ₹503/- to ₹529/- per Equity Share of face value ₹10/- each for its maiden initial public offer. The Initial Public Offering (“IPO” or “Offer”) of the Company will open on Monday, September 02, 2024, for subscription and close on Wednesday, September 04, 2024. Investors can bid for a minimum of 28 Equity Shares and in multiples of 28 Equity Shares thereafter.

The IPO consists of fresh issue of up to 25,58,416 equity shares and an offer for sale (OFS) of up to 6,16,000 equity shares by Promoter Group Selling Shareholders and Individual Selling Shareholders.

The proceeds from the fresh issue, to the extent of Rs 370 million for setting up a new facility at Vallam-Vadagal, SIPCOT, Sriperumbuddur, Tamil Nadu for manufacturing high tensile fasteners and hex bolts; Rs 110.69 million for funding capital expenditure requirements towards purchase of equipment, plant and machinery at Wada, Palghar, Maharashtra; Rs 454.30 million for repayment/ prepayment, in full or part, of certain borrowings availed by the Company; and general corporate purposes.

Led by Kirit Vishanji Gala, Gala Precision is a technology-driven company with a strong focus on quality, design tool development, and application engineering. It has more than 3 decades of experience in developing customized products to meet the evolving needs of its customers and commands an approximation of 15% market share in the domestic SFS market for wind turbines.

The Company supplies its products to original equipment manufacturers (“OEMs”), Tier 1 and channel partners; used in sectors like renewable energy including wind turbine and hydro power plants, various industrial sectors such as electrical, off highway equipment, infrastructure and general engineering, mobility segments such as automotive and railways.

Its technical springs and high tensile fasteners have been supplied to customers in countries such as Germany, Denmark, China, Italy, Brazil, USA, Sweden, Switzerland etc. Accordingly, it is a key link in the global supply chain for OEMs.

Its business primarily comprises of springs technology division, under which it manufactures DSS including wedge lock washers (“WLW”), CSS and SFS in which it manufactures anchor bolts, studs and nuts.

The Company operates its business from its two manufacturing facilities located in Wada, Palghar, Maharashtra. Further, it is also setting up a new manufacturing facility in Vallam-Vadagal, SIPCOT, Sriperumbuddur, Tamil Nadu for developing various high-tensile fasteners to add to its existing product portfolio and new products.

For fiscal 2023–24, the company’s revenue from operations increased by 22.41%, reaching to ₹2025.45 million in Fiscal 2024 from ₹1654.65 million in Fiscal 2023, driven incremental sales of DSS due to the addition of new customers and increased demand from renewable energy, railways and industrial sectors; as well as incremental sales of CSS, owing to increased demand from the automobile industry and the commencement of supplies to the railways. Profit after tax for the fiscal 2024 stood at ₹223.32 million.

PL Capital Markets Private Limited is the sole book running lead manager and Link Intime India Private Limited is the registrar to the offer. The equity shares are proposed to be listed on BSE and NSE.

The Offer is being made through the Book Building Process, wherein not more than 50% of the Offer shall be available for allocation to Qualified Institutional Buyers, not less than 15% of the offer shall be available for allocation to Non-Institutional Bidders and not less than 35% of the Offer shall be available for allocation to Retail Individual Bidders.