Category Archives: Business

NetApp Accelerates VMware Migrations with Amazon Elastic VMware Service Integration

India, August 7, 2025 – NetApp, the intelligent data infrastructure company, announced that Amazon FSx for NetApp ONTAP is now a supported external storage option for Amazon Elastic VMware Service (Amazon EVS) on Amazon Web Services (AWS). Amazon EVS, now generally available, is a new AWS service that allows users to run VMware Cloud Foundation (VCF) directly within their Amazon Virtual Private Cloud (Amazon VPC), alongside other applications. With Amazon EVS, organizations can quickly migrate VMware workloads to AWS to seamlessly extend and expand their VMware environments and unlock business agility and transformation.

This integration with Amazon EVS combines NetApp’s proven, secure data management and protection capabilities with AWS’s scale, resilience, and performance, allowing customers to simplify and accelerate their AWS migration without re-platforming or re-factoring their existing applications or changing their data management workflows.

Migrating mission critical workloads to the cloud can help businesses drive transformation by eliminating aging infrastructure, reducing operational costs, and meeting critical business timelines, but they need an effective data strategy to avoid introducing new challenges such as unexpected costs, sprawling IT environments, and fragmented services. As the only enterprise storage solution provider with a first-party data storage service natively built on AWS, NetApp is uniquely equipped to help customers accelerate modern workloads in the cloud by offering enterprise storage solutions natively built on AWS. Customers have been able to reduce costs by 50 percent after adopting Amazon FSx for NetApp ONTAP®. Using FSx for ONTAP to migrate and manage their VMware environments enables customers to leverage Intelligent Data Infrastructure to improve migration planning and decrease total cost of ownership with built-in data management capabilities.

“Customers utilizing Amazon EVS with FSx for ONTAP can now enjoy the same data efficiency, protection, and automation they trust on-premises,” said Pravjit Tiwana, Senior Vice President and General Manager, Cloud Storage at NetApp. “Through our collaboration with AWS, we’re making it easier to move critical workloads to the cloud and manage them at scale.”

“We foresee incredible benefits for Asia Pacific enterprises with the launch of Amazon EVS.  The native integration of Amazon FSx for NetApp ONTAP into Amazon EVS elevates the security, efficiency and performance of VMware workloads whilst reducing the TCO for our customers,” said Matthew Swinbourne, CTO Cloud Architecture at NetApp Asia Pacific.  “With this launch, APAC organizations can achieve the flexibility, performance, and cost benefits that they need to accelerate their cloud ambitions.”

To better support customers as they manage advanced workloads in the cloud, NetApp has released capabilities including:

• Amazon FSx for NetApp ONTAP support for Amazon EVS: Amazon EVS, the new self-managed cloud solution for VMware from AWS, is now generally available, and FSx for NetApp ONTAP is a supported storage option. Amazon EVS automates and simplifies deployments and provides a ready-to-use VCF environment on AWS. This allows VMware administrators to quickly migrate VMware-based virtual machines to AWS using the same VCF software and tools they already use in their on-premises environment. Using FSx for ONTAP as external storage for the Amazon EVS environment reduces overhead by providing advanced data management and protection functionality, reducing total cost of ownership and increasing cyber resiliency.

• Migration advisor for Amazon EVS workloads: The migration advisor feature of BlueXP workload factory for AWS now supports Amazon EVS workloads, helping simplify and speed up migration processes. Customers can now automate the discovery of on-premises virtual machines, provisioning of FSx for ONTAP, and placement of datastores in Amazon EVS.

• Expanded VMware disaster recovery support in BlueXP: BlueXP disaster recovery for VMware now integrates with Amazon EVS, leveraging FSx for ONTAP storage as a reliable disaster recovery target. Supported datastore options include NFS (file-based) and VMFS (block-based) via the iSCSI protocol, ensuring versatile and efficient disaster recovery solutions.

• Enhanced ransomware protection features: Further enabling customers to protect Amazon EVS workloads, NetApp ONTAP autonomous ransomware protection (ARP) for FSx for ONTAP is used to detect and respond to ransomware events in real time. Additionally, NetApp BlueXP ransomware protection service supports FSx for ONTAP to help customers with comprehensive orchestration of their defense against ransomware events. Enabling these features to support workloads natively in AWS helps protect customer data and minimize downtime by proactively detecting ransomware at the storage layer across the hybrid cloud.

Xtravirt, a NetApp Preferred Partner and an AWS partner, believes these latest announcements will come as good news to businesses looking to migrate VMware workloads to public cloud. “Enabling support for FSx for ONTAP on Amazon EVS gives customers more granular control over the data powering some of their most important workloads,” said Robin Gardner, CCO at Xtravirt. “Customers will be able access NetApp’s advanced data management functionality to reduce the overhead of managing virtual environments and more efficiently and securely manage hybrid deployments.”

No ransomware detection or prevention system can completely guarantee safety from a ransomware attack. Although it’s possible that an attack might go undetected, NetApp technology acts as an important additional layer of defense.

Medistep Healthcare Eyes ₹16.09 Crore Fundraise to Acquire New Plant & Machinery

Mumbai, India, August 7, 2025: Medistep Healthcare Limited is set to raise approximately ₹16.09 crore through its upcoming fixed-price Initial Public Offering (IPO), with the primary objective of strengthening its manufacturing infrastructure through the acquisition of advanced plant and machinery.

A significant portion of the IPO proceeds will be allocated toward the acquisition and installation of state-of-the-art equipment at the company’s existing manufacturing facility in Kheda, Gujarat. At the core of this investment is a fully automated, high-speed sanitary pad production line, capable of producing up to 500 pads per minute. This integrated line features raw material feeding, embossing, adhesive application, and inline quality inspection within a single, streamlined workflow.

Additionally, the company will commission a twin‐shaft ribbon blender with vacuum‐sealed hoppers and an integrated volumetric filler from DEF Tech Industries. This system will enable precise and hygienic blending and packaging of energy powder sachets at speeds of up to 200 units per minute. To enhance the secondary packaging process, three modular tri‐axis flow‐wrap machines will also be installed. These machines are equipped for automatic bag feeding, sealing, date-coding, and stacking, thereby increasing throughput and significantly reducing manual processes.

The capital expenditure also covers plant-floor modifications, utility installations, operator training, and warranty support. All systems are expected to be fully operational and certified within three months of their scheduled delivery in Q4 FY26. This strategic infrastructure upgrade is projected to increase overall manufacturing capacity by approximately 30% over the next 12 months, markedly improving production efficiency, product quality, and the company’s responsiveness to growing market demand.

A portion of the funds will also go toward bolstering working capital to ensure uninterrupted raw material procurement and optimal inventory levels. Remaining proceeds will be used for general corporate purposes and expenses related to the IPO.

“The funds raised will support our next phase of growth by strengthening our manufacturing capabilities and supporting market expansion,” said Mr. Girdhari Lal Prajapati, Managing Director of Medistep Healthcare Limited.

Under the IPO, Medistep will issue up to 37,44,000 equity shares of face value ₹10 each at a fixed offer price of ₹43 per share. The offer opens for subscription on August 8, 2025, and closes on August 12, 2025, with a minimum lot size of 3,000 shares. A total of 17,79,000 shares are reserved for retail investors, 17,76,000 shares for non-institutional investors, and 1,89,000 shares for the market maker. Fast Track Finsec Private Limited is the lead manager to the issue, and Cameo Corporate Services Limited will serve as the registrar. The company’s shares are proposed to be listed on the NSE Emerge platform on August 18, 2025.

Founded in June 2023, Medistep Healthcare has quickly established a pan-India distribution network for a diversified portfolio of pharmaceutical, nutraceutical, surgical, and intimate-care products. The company reported revenue of ₹4,965.48 lakh in FY25, up from ₹3,907.19 lakh in FY24. Profit after tax grew to ₹414.42 lakh from ₹332.76 lakh year-over-year. Following the IPO, Medistep’s equity share capital will increase from 1,04,65,546 to 1,42,09,546 shares, implying a projected market capitalisation of ₹61.10 crore.

India’s Fitness Industry Gets a Boost as Alphalete Launches with Sonu Sood

New Delhi, 7th August, 2025: Alphalete Premium, a new direct-to-consumer supplement brand was officially launched in India recently. The event brought together fitness lovers, industry professionals, and health experts, marking a fresh step toward making high-quality health supplements accessible across the country.

The highlight of the event was the presence of actor and humanitarian Sonu Sood, who attended as the Guest of Honour. He also launched the official Alphalete India website, making the brand’s products available to customers nationwide. Speaking at the event, Sonu Sood said, “Health and fitness are very important today, but so is honesty in what we consume. I support Alphalete’s mission because India’s fitness industry needs authentic, trustworthy supplements. It’s time we focus on clean products with real quality.”

Alphalete focuses on offering US-sourced, third-party lab-tested supplements without any middlemen ensuring high quality and fair prices. Alphalete announced partnerships with international supplement brands like Species Nutrition, Performax Labs, Eminent Nutrition, and Blackstone Labs. These tie-ups will bring global standards to Indian customers, ensuring both quality and performance.

Suresh Shukla, Founder & CEO of Alphalete, and Sravan Ghanta, Co-Founder & CFO, shared that India now needs reliable, affordable nutrition more than ever, especially as more people turn to supplements. They emphasised the use of cutting-edge technology and global manufacturing practices to ensure safety and performance. Speaking on the occasion, they explained, “In today’s market, many people are confused about what’s safe to use. We want to make things simple which is clean products, honest pricing, and clear information. Alphalete is not just a brand, but a movement toward healthier living.”

Addressing concerns about rising cases of heart attacks, especially among young fitness enthusiasts, they added, “Supplements are safe when used the right way and with expert advice. At Alphalete, all our supplements are tested and meet international standards. We always suggest people talk to a doctor, get regular checkups, and never rely only on supplements. A healthy lifestyle matters most.”

Alphalete’s goal is to redefine health and wellness in India by offering products that people can depend on. The brand caters to fitness enthusiasts, athletes, and everyday consumers looking for supplements they can trust.

Algoquant Fintech Declares Record Date for Value-Enhancing Stock Split and Bonus Issue

Delhi , August 6, 2025

Algoquant Fintech Limited (BSE: 505725), a prominent player in the fintech industry, today announced that it has fixed Monday, August 18, 2025, as the Record Date for two major corporate actions: a sub-division (stock split) of its equity shares and the issuance of bonus shares to shareholders. These actions reflect the Company’s commitment to driving inclusive shareholder benefits, improving market participation, and reinforcing investor confidence.

In accordance with Regulation 42 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 and other applicable legal provisions, the Board of Directors of the Company has approved the following corporate initiatives:

1. Sub-Division (Stock Split) of Equity Shares

Each existing equity share of ₹2/- (Rupees Two only) fully paid-up will be sub-divided into 2 (two) equity shares of ₹1/- (Rupees One only) each, fully paid-up. This step is aimed at increasing the liquidity of the Company’s shares in the stock market and making them more affordable for retail and small investors.

The stock split will result in a proportional increase in the number of shares held by shareholders without altering their overall value of investment. This is expected to boost trading activity, widen the shareholder base, and contribute to better price discovery and enhanced investor interest in the Company’s stock.

2. Issuance of Bonus Shares

In addition to the stock split, the Company has also approved the issuance of Bonus Shares in the ratio of 8:1, i.e., 8 (eight) new fully paid-up equity shares of ₹1/- each for every 1 (one) existing fully paid-up equity share of ₹1/- held by eligible shareholders on the Record Date.

The issuance of bonus shares is a clear reflection of the Company’s strong financial health, consistent performance, and robust reserves position. This step not only rewards existing shareholders but also serves as a signal of management’s confidence in the Company’s future growth trajectory.

Objectives and Expected Impact

The twin corporate actions are designed with a strategic objective to:

* Reward long-term shareholders with a significant increase in shareholding at no additional cost
* Increase accessibility for new investors by reducing the face value and market price per share
* Enhance liquidity in the equity shares of the Company
* Encourage wider participation in the Company’s equity, especially among retail and first-time investors
* Strengthen shareholder engagement and market perception

These decisions underscore the Company’s unwavering focus on delivering sustained shareholder value and fostering long-term wealth creation.

Management Commentary

Speaking on the announcement, Krishna Kumar Yadav, Company Secretary & Compliance Officer of Algoquant Fintech Limited , stated:

“This is a landmark moment for Algoquant Fintech Limited as we initiate steps that reflect both our financial strength and our desire to include more investors in our growth story. The stock split and bonus issue demonstrate our dedication to shareholder-friendly practices. We are confident that these measures will result in greater investor participation, enhanced stock visibility, and an overall strengthening of our presence in the capital markets.”

MPC Maintains Cautious Stance Amid Global Uncertainty; Liquidity Support Seen Boosting Equities, Capping Yields

Dr. Esha Khanna, Assitant Profressor at School of Economics NMIMS University

The Monetary Policy Committee’s (MPC) current stance and cautious approach is as anticipated and  commendable, even in light of reduced retail inflation, resilient domestic growth, and a downward adjustment of  future inflation forecasts. Nevertheless, the infusion of liquidity, volatile price conditions, and the emergence of mixed signals from high-frequency indicators, coupled with ongoing global uncertainties stemming from recent trade policy changes and new tariffs, have exacerbated existing geopolitical tensions. This situation is expected to adversely affect the manufacturing sector, while the mining sector is already experiencing challenges due to the early arrival of the monsoon, which poses risks to the domestic growth outlook. The transmission of the previously implemented frontloaded repo rate cut and the phased reduction in the Cash Reserve Ratio (CRR) is still in progress, manifesting as lower lending rates that are essential for stimulating the real estate sector and further reviving urban consumption demand. This has had a direct effect on the External Benchmark Lending Rate (EBLR), and the necessary influence on the Marginal Cost of Funds based Lending Rate (MCLR) through deposit lending rates is also observable. The ongoing focus on additional measures, particularly concerning Variable Rate Reverse Repo (VRR) and Variable Rate Reverse Repo Rate (VRRR) auctions, has ensured that both systemic and durable liquidity remain within a comfortable range, among other factors. Overall, as global developments indicate a dampening effect on equity markets due to tariffs, and global currencies exhibit mixed trends with the Indian Rupee (INR) also depreciating, this status quo, along with additional liquidity, is expected to have potently positive influence  on equity markets while keeping the effects on both long-term and short-term yields largely capped.

RBI Holds Rates Steady, Boosting Confidence in Affordable Housing Sector

Shishir Baijal, Chairman and Managing Director, Knight Frank India.

“The RBI’s decision to hold rates steady underscores its calibrated approach amidst a complex economic backdrop. While inflation has moderated, it remains uneven, and the central bank is understandably cautious given the persistent risks from global commodity prices, geopolitical tensions, and volatile capital flows.

 For the real estate sector, the continuation of stable policy rates and surplus liquidity conditions provide much-needed predictability and helps preserve affordability for homebuyers. Notably, some banks have already reduced consumer home loan rates – a move that supports housing demand, especially in the mid-income and low-income segment – and more transmission in interest rates is underway. This policy continuity, coupled with easing credit conditions and steady economic growth can provide a boost to the affordable housing categories.”

RBI Holds Repo Rate at 5.5%: Steady Borrowing Costs to sustain momentum in the Real Estate Sector

In a widely anticipated move, the Reserve Bank of India (RBI) has maintained the repo rate at 5.5% during its August monetary policy review, a decision welcomed by the real estate sector. With inflation easing and economic uncertainty stemming from US trade tariffs, the RBI’s neutral stance offers much-needed stability for homebuyers and developers alike. Industry experts say that unchanged borrowing costs will continue to support demand for housing loans, ensuring sustained momentum in both affordable and premium housing segments.

Mr. Prashant Sharma, President, NAREDCO Maharashtra

“The RBI’s decision to maintain the repo rate at 5.5% despite easing inflation reflects a cautious yet balanced approach to managing global headwinds and domestic stability. For the real estate sector, a status quo on rates ensures continued momentum in homebuyer sentiment and sustains the affordability factor in housing. However, given the moderating inflation and macroeconomic uncertainties, the industry looks forward to a calibrated rate cut in upcoming reviews to further support growth, especially in the affordable and mid-income housing segments.”

Mr. Kaushal Agarwal, Chairman, The Guardians Real Estate Advisory

“The real estate sector has shown resilience despite global uncertainties. With inflation under control and GDP growth projected steadily, a repo rate cut would have been the perfect catalyst to trigger festive season demand. However, the RBI’s decision to hold the rate steady keeps the environment predictable and EMIs affordable. The industry remains cautiously optimistic that a more dovish stance could follow if inflation stays within the comfort zone.”

Mr. Vikas Jain, CEO, Labdhi Lifestyle and President, NAREDCO Maharashtra NextGen

“While the RBI’s decision to maintain the repo rate ensures monetary stability, the sector was optimistic about a rate cut given the drop in inflation to 2.1%. Affordable housing and first-time homebuyers remain extremely interest rate sensitive. A cut would have significantly pushed housing demand forward. Nevertheless, we hope the RBI remains open to easing rates in the upcoming cycles to spur broader economic and sectoral growth.”

Ms. Shraddha Kedia-Agarwal, Director, Transcon Developers

“With inflation easing and homebuyer interest still high, the real estate sector was hopeful for a rate cut to further catalyse housing demand. However, the RBI’s decision to maintain status quo reflects a watchful approach to global uncertainties like trade tariffs. Stability in rates does support long-term planning for both developers and homebuyers, but a softer interest rate regime would provide the real boost required for deeper market penetration, especially in urban metros like Mumbai.”

Mr. Dhruman Shah, Promoter, Ariha Group

“In a scenario where global trade dynamics are shifting and inflation has visibly moderated, the real estate industry expected some policy support via rate easing. Nonetheless, the RBI’s decision to maintain the current rate suggests that stability is being prioritized. While this helps developers plan without sudden shifts in financial costs, we anticipate a pro-growth signal in the next review, especially to give a push to the affordable housing segment.”

Mr. Nihar Jayesh Thakkar, Founder, The Mandate House Pvt. Ltd.

“The MPC’s decision to keep the repo rate unchanged is a balanced one, considering the broader economic landscape. For real estate stakeholders—especially in the advisory and sales ecosystem—this offers continuity in buyer behavior and home loan affordability. That said, a future rate cut would help unlock fence-sitters and attract a new wave of aspirational buyers, especially in the mid- and premium segments.”

RBI Holds Rates at 5.5%, Signals Confidence in Growth Amid Easing Inflation

 Mr. Umesh Revankar, Executive Vice Chairman, Shriram Finance Ltd.

“The RBI’s decision to hold the repo rate steady at 5.5% with a neutral policy stance reflects a balanced approach, prioritizing both inflation control and growth. The maintained GDP forecast of 6.5% for FY26 signals continued confidence in India’s domestic economic resilience, supported by strong rural demand and a gradual uptick in urban consumption. The downward revision of the inflation outlook to 3.1% from 3.7% is encouraging, suggesting easing price pressures and improved supply conditions.

RBI’s caution on external risks, particularly global uncertainties and geopolitical developments, could impact growth momentum. However, the policy outcome aligns well with the current economic context and provides stable business environment. We are optimistic about the credit demand outlook, especially in semi-urban and rural markets, and are well-positioned to support inclusive growth through sustained lending activity.”

Pharmaceutical company Medistep Healthcare’s IPO Price Fixed at Rs. 43 Per Share; Issue Opens on August 8

New Delhi, August 6, 2025: Medistep Healthcare Limited, a rapidly growing player in India’s pharmaceutical and healthcare market, has fixed the price of its upcoming Initial Public Offering (IPO) at Rs. 43 per equity share. The offering comprises up to 37,44,000 equity shares with a face value of Rs.10 each. The IPO, which is being offered through a fixed price issue, will open for subscription on Friday, August 8, 2025, and close on Tuesday, August 12, 2025.

The lot size for the issue has been set at 3,000 equity shares. The shares are proposed to be listed on the Emerge Platform of National Stock Exchange of India Limited on August 18, 2025.

Of the total offer, not less than 17,79,000 equity shares are reserved for retail individual investors, not more than 17,76,000 equity shares are allocated for non-institutional investors, and 1,89,000 equity shares are reserved for the market maker portion. Fast Track Finsec Private Limited is acting as the lead manager to the issue, and Cameo Corporate Services Limited is the registrar.

Medisteps intends to raise approximately Rs 16.09 crore from the ipo. The net proceeds from the IPO will be utilised to fund capital expenditure towards the purchase of plant and machinery for expansion at the company’s existing manufacturing facility, to meet working capital requirements, to meet general corporate purposes and to meet out the Issue Expenses.

Founded in June 2023, Medistep Healthcare Limited is engaged in the manufacturing of sanitary pads and energy powders, and in the trading of pharmaceutical, nutraceutical, surgical, and intimate care products through an established distribution network. The company expanded its footprint in 2024 with the acquisition of the business of M/s MG Pharma, a proprietorship concern.

The company reported revenue from operations of Rs.4,965.48 lakh in FY25, compared to Rs.3,907.19 lakh in FY24. EBITDA stood at Rs.560 lakh for FY25, up from Rs.454.2 lakh in the previous year, while profit after tax (PAT) rose to Rs.414.42 lakh from Rs.332.76 lakh.

Following the issue, the company’s equity share capital will increase from 1,04,65,546 shares to 1,42,09,546 shares, with a post-issue implied market capitalization of Rs.61.10 crore.

Commenting on the IPO, Mr. Girdhari Lal Prajapati, Managing Director, Medistep Healthcare Limited, said, “The proceeds from the IPO will strategically support our expansion efforts and reinforce our footprint in both domestic and international markets. Our diversified and growing product portfolio positions us well to capitalize on the rising global and domestic demand for health and hygiene solutions.”

Bimaplan Appoints Banking Veteran Anurag Mishra as CEO to Lead Global Expansion

Mumbai, India – 06 August, 2025: Bimaplan, India’s leading embedded insurance platform, has appointed seasoned international banker Anurag Mishra as its Chief Executive Officer. This strategic leadership transition comes as the company sharpens its focus on profitability and accelerates expansion into global markets.

Mishra brings nearly 30 years of experience in global banking and financial services, most recently serving as Regional Head for Global Trade, Commodity & Supply Chain Finance at the International Finance Corporation (IFC), part of the World Bank Group, managing complex financial operations across emerging markets. Previously, he spent 15 years at Standard Chartered Bank, including a tenure as CEO of Standard Chartered Bank, Nepal, where he led transformative initiatives and built strong institutional relationships across regulatory and diplomatic circles.

“Anurag’s deep expertise in financial services and emerging markets makes him the ideal partner for Bimaplan’s next phase of growth,” said Vikul Goyal, Founder of Bimaplan. “While I continue to focus on product innovation and strategic partnerships, Anurag will drive operational excellence and business expansion.”

The leadership change coincides with Bimaplan’s growing global ambitions. Following the successful launch of its first international program in Zambia, in partnership with a local microfinance institution, the company is now actively expanding across the Middle East and Africa. These regions represent significant opportunities for Bimaplan’s technology-first approach to embedded insurance, designed to seamlessly integrate coverage into financial platforms.

“The global embedded insurance market holds immense potential to enhance financial inclusion,” said Anurag Mishra, CEO, Bimaplan. “I look forward to leveraging my experience to forge strategic partnerships and navigate regulatory landscapes across key emerging markets.”

Since its founding, Bimaplan has delivered insurance solutions to nearly 5 million customers by embedding policies into digital journeys at the point of transaction. This model has proven especially effective in reaching underserved segments traditionally left out by conventional insurance distribution.

Operating under Purple Umbrella Fintech Private Limited, Bimaplan has built partnerships with leading insurers and digital platforms in India. The company is backed by marquee investors including Orios Venture Partners, Y Combinator, and Finsight Ventures, having raised $6 million across two funding rounds.

“Bimaplan’s leadership transition marks a pivotal moment in its evolution into a global insurtech leader,” said Sukhmani Bedi, Partner at Orios Venture Partners. “Anurag’s international experience, combined with Vikul’s entrepreneurial vision, sets the stage for sustainable growth across emerging markets.”

With a scalable platform that requires minimal localization, Bimaplan is poised to replicate its success in international markets, starting with Zambia and extending to other underserved geographies where microfinance institutions play a critical role.