Category Archives: Business

IIT Bombay and ICICI Foundation partner for expansion of biomedical innovation hub

Mumbai: Indian Institute of Technology (IIT) Bombay and ICICI Foundation for Inclusive Growth (ICICI Foundation), the CSR arm of ICICI Bank, have forged a partnership to expand the biomedical innovation hub at the country’s premier technology and engineering institute. Under this partnership, ICICI Foundation has pledged ₹70 crore to set up additional floors at the Biomedical Engineering and Technology Innovation Centre (BETIC) at IIT Bombay and equip this area with advanced facilities.

The MoU was signed by Prof. Shireesh Kedare, Director, IIT Bombay and Mr. Sanjay Datta, President, ICICI Foundation in presence of Mr. Pradeep Kumar Sinha, Chairman, ICICI Bank.

The new floors, named ‘IIT-ICICI BETIC Hub’, will significantly expand IIT Bombay’s capabilities in biomedical engineering, increasing its space five-fold to 19,700 sq. ft. The hub will foster collaboration among researchers, clinicians, and industry leaders to develop affordable, cutting-edge medical devices and diagnostic solutions. It will be equipped with state-of-the-art resources for product development, medical grade manufacturing, safety testing, inspection, and packaging. This enhanced ecosystem will support med-tech startups and companies, train professionals in healthcare innovation, and generate high-value jobs, ultimately benefiting millions of patients.

Speaking on the collaboration, Prof. Shireesh Kedare, Director, IIT Bombay, said, “This partnership exemplifies how industry-academia alliances can drive innovation towards real-world impact. With ICICI Foundation’s generous support, IIT Bombay is poised to revolutionise biomedical research and technology, addressing critical healthcare gaps in India, fostering home-grown solutions that are accessible, affordable, and scalable.”

Commenting on the partnership, Mr. Pradeep Kumar Sinha, Chairman, ICICI Bank, said, “Healthcare is a key focus at ICICI Foundation’s CSR initiatives. India’s unique healthcare challenges — high disease burden, vast rural populations, and affordability constraints—demand indigenous innovations in biomedical, tailored to its needs. Homegrown advancement will not only reduce dependency on imports but also foster cost-effective, cutting-edge medical solutions that can empower healthcare professionals and benefit millions across the country. The partnership between ICICI Foundation and IIT Bombay aims to meet this objective. The ‘IITB-ICICI BETIC Hub’ will facilitate the development of indigenous medical innovations ensuring affordable healthcare solutions to patients. We are delighted to collaborate with IIT Bombay to drive a meaningful change in the healthcare ecosystem.” 

So far, ICICI Foundation has positively impacted over 2.5 million lives to receive treatment in 550 hospitals across the country through its initiatives in the healthcare sector. This includes building capacity in curative care, including cancer care, cardiac care, eye care, trauma and emergency care.

Satin Creditcare Network Ltd. Continues Board Strengthening Journey with the Appointment of Two New Independent Directors

New Delhi, July 8 2025: Satin Creditcare Network Limited (SCNL), one of India’s leading microfinance institutions, has announced the appointment of two distinguished professionals, Mr. Ashok Kumar Sharma and Mr. Anupam Kunal Gangaher, as Independent Directors to its Board. Their appointments are for a period of three (3) consecutive years, effective June 27, 2025, and are subject to shareholder approval at the upcoming Annual General Meeting.

The addition of Mr. Sharma and Mr. Gangaher reaffirms SCNL’s commitment to maintaining strong governance and strategic oversight. It also marks the continuation of the board-strengthening efforts initiated in 2024 with the onboarding of Independent Directors Mr. Joydeep Datta Gupta (June 2024) and Ms. Jyoti Davar Vij (September 2024). With these new appointments, SCNL remains focused on building a diverse and experienced Board to guide its long-term vision and growth.

The new appointees include:

Mr. Ashok Kumar Sharma Mr. Ashok Kumar Sharma is a former Executive Director of the Life Insurance Corporation of India (LIC), where he held a wide range of leadership and operational roles over nearly four decades. He brings with him over 40 years of rich experience in India’s financial services sector, spanning insurance, banking, capital markets, venture capital, and regulatory frameworks. Following his retirement, he joined the LIC IPO as an Advisor, contributing to one of India’s most significant public offerings. He also served as Director & CEO at LICHFL Asset Management Company Ltd. for more than four years, where he led the operations and strategic direction of its Real Estate Fund, focusing on investment strategy, compliance and investor confidence. In addition, he was associated with IDBI Bank as General Manager from October 2022 to March 2024, contributing to key areas such as regulatory oversight, banking operations, and stakeholder engagement.

Mr. Anupam Kunal Gangaher is a seasoned Chartered Accountant with over 40 years of experience in audit, taxation, and financial advisory. A graduate of Delhi University and proprietor of A.K. Gangaher & Co., he has advised Indian and multinational clients across sectors including manufacturing, trading, hospitality, exports, software, and financial services. His core expertise lies in direct and indirect taxation, transfer pricing, and non-resident taxation, with extensive experience representing clients before statutory authorities.

The induction of these two accomplished professionals represents another pivotal step in Satin’s journey towards building a world-class governance framework. Combined with the Company’s recent board enhancements and its ‘AA’ ESG rating from ESG Risk Assessments and Insights Ltd., these appointments demonstrate SCNL’s sustained commitment to exceptional environmental, social, and governance practices while maintaining its leadership position in the microfinance sector.

Commenting on the appointments, Dr. H P Singh, Chairman cum Managing Director of Satin Creditcare, said, “At Satin Creditcare, we view corporate governance not merely as a compliance requirement, but as a strategic pillar for sustainable growth and stakeholder trust. A strong, diverse, and future-ready Board is central to this philosophy. Satin is proud to be a well-governed institution, with a balanced composition of non-independent and independent directors, ensuring transparent oversight and strategic direction. As we move forward, we are pleased to welcome Mr. Ashok Kumar Sharma and Mr. Anupam Kunal Gangaher as Independent Directors. Both bring extensive experience across finance, governance, and institutional strategy. Their diverse perspectives and strong credentials will significantly strengthen our Board’s capabilities as we continue to scale our mission of responsible financial inclusion.”

Nuvama Wealth Management Upgraded to CARE AA

Nuvama Wealth Management Upgraded to CARE AA; Stable — Diversified Growth and Profitability Drive Rating Boost

Kolkata, July 7, 2025: CareEdge Ratings has upgraded the long-term credit rating of Nuvama Wealth Management Limited (NWML) to CARE AA; Stable, while reaffirming its short-term rating at CARE A1+. The upgrade reflects the company’s strong financial performance, consistent profitability, and a well-diversified business model across wealth management, asset services, asset management, and capital markets.

In its rating rationale, CareEdge Ratings said: The upgrade in ratings assigned to debt instruments of the Nuvama Group factors in healthy growth in the wealth management, asset services and capital market segments, which further strengthens its established market presence, and improving profitability, supported by a diversified business model.

As of March 31, 2025, the group’s consolidated client assets under advisory (AUA) surged to Rs. 4.3 lakh crore – a 24% year-on-year growth. The consolidated profit after tax (PAT) for FY25 stood at Rs. 985 crores, up from Rs. 625 crores in FY24, with return on net worth (RoNW) improving to 31.79%. Nuvama Group currently serves over 1.2 million affluent customers and 4250 HNI/UHNI families, making it the second-largest independent wealth management player in India.

With strong capitalisation (tangible net worth of ₹3,405 crore), a growing client base, and a stable outlook, Nuvama continues to demonstrate resilience and momentum in a dynamic financial landscape.

In addition, the group’s ESG initiatives, board-led governance practices and continued investment in talent reinforce its reputation as a future-ready and resilient institution. This recognition is another affirmation into Nuvama’s transformation into a governance-first, technology-led and solution-driven wealth management powerhouse catering to India’s rapidly evolving affluent and HNI investor base.

ANJ Group Bags Projects Worth INR 500 Cr in Q1; Expands Portfolio with Amazon, Coca-Cola

Mumbai: The ANJ Group, one of India’s leading design and build firms headquartered in Mumbai, has announced a robust start to FY25 by securing over ₹500 crore worth of projects in Q1 alone. The firm has expanded its portfolio significantly this quarter with high-impact projects for marquee clients such as Amazon in Hyderabad, Coca-Cola in Ahmedabad and ZEISS in Bengaluru, each expanding to an area of 92,000 sft, 90,000 sft and 2,50,000 sft respectively.

With over 1 million sq. ft. of workspace delivered across the country in the last three months, ANJ continues to deepen its presence in both Tier 1 and Tier 2 cities. The company executed projects across 10+ urban hubs including Mumbai, Delhi NCR, Bengaluru, Pune, Hyderabad and Kolkata, along with fast-growing cities like Ahmedabad and Lucknow.

Over 50% of the business this quarter came from repeat clients, reinforcing ANJ’s long-standing reputation for trust, quality and timely delivery. The Q1 project portfolio features a diverse mix, with 70% build contracts and 30% design & build (DNB) projects, demonstrating the company’s adaptable and client-centric model.

“Q1 has set the tone for a strong year ahead. The fact that half of our business comes from returning clients is the clearest affirmation of our commitment to excellence. Whether it’s complex corporate offices, experience centres or high-performance facilities, we’ve built a delivery ecosystem that scales with client ambition,” said Jay Kularia, executive director, ANJ Group.

ANJ Group continues to operate at the intersection of design, technology and execution, helping organisations reimagine their workplaces for the future. The firm’s integrated approach, driven by an in-house team of architects, engineers and project managers, enables precision-led delivery across every stage of a project.

From global giants to homegrown leaders, ANJ’s expanding client base reflects growing demand for intelligent, efficient and brand-aligned work environments.

With a sharp focus on quality, timelines and client vision, ANJ Group is poised for continued growth in the coming quarters, as India’s office landscape becomes more dynamic and design-led than ever before.

Meet Dear Doer: Vegan K-Bodycare That Hugs Your Skin and Uplifts Your Mood

July 7, 2025: House of FOY – Introduces a mindful, vegan Korean body and hand care brand from Seoul, making its way to India. Rooted in the K-beauty philosophy of gentle, effective care, Dear Doer believes in “Hug My Skin, Love Myself”—an ethos that champions both skincare and self-kindness. It blends K-beauty innovation with plant-based actives and clean surfactants to deliver gentle exfoliation and deep hydration—turning daily routines into uplifting rituals.

With sensorial, multitasking textures like creamy scrubs, nourishing washes, and hydrating lotions each product is formulated with ingredients such as Andes salt, PHA, hyaluronic acid, centella, grapeseed, and niacinamide. 100% vegan, made in Korea, and housed in vibrant, environmental friendly packaging Dear Doer makes bodycare feel just as special as skincare. Each product is designed to inspire self-care, forward momentum, and a more positive everyday experience. Dear Doer is a mindful, vegan beauty brand that transforms everyday routines into moments of joy with nourishing ingredients and uplifting fragrances.

1. DEAR DOER DAZZLING BODY SCRUB

The formulation is designed to transform dull, tired skin into a smooth and radiant flawless skin. Formulated with gentle exfoliants and skin-friendly ingredients, it effectively removes dead skin cells and impurities while infusing the skin with hydration. The result is a soft, supple texture and a naturally glowing complexion. Ideal for anyone seeking the balance of polish and nourishment in their skincare routine.

2. DEAR DOER HIDDEN BODY & HAND LOTION

Experience supple skin with The Hidden Silky Body & Hand Lotion, a 300ml blend of rich nourishment and longer hydration. Crafted to provide smoothness, it leaves the skin with a healthy, radiant glow. The lightweight, quick-absorbing formula sinks in effortlessly, delivering deep moisture without any greasiness ideal for daily use on both hands and body.

3. DEAR DOER DAZZLING RADIANT BODY & HAND LOTION

Allow your skin to experience the richness of the Dazzling Radiant Body & Hand Lotion. This 300ml bottle delivers intense nourishment and lasting hydration, leaving skin silky-smooth, soft to the touch, and naturally radiant. Its lightweight, quick-absorbing texture makes it perfect for daily use providing rich moisture. Suitable for both hands and body, it’s the ultimate daily must-have for healthy, glowing skin from head to toe.

With this, I’m keen to explore a feature opportunity for the above products in your upcoming Beauty, Skincare, New launches stories.

Embrell Expands Nationwide with Luxury Demi-Fine Jewellery

New Delhi, 7 July 2025: Embrell, an emerging luxury demi-fine jewellery brand known for its 18K gold-plated creations, Embrell, an emerging luxury demi-fine jewellery brand that brings together thoughtful design, everyday elegance and meaningful self-expression, with each piece crafted in 18K gold-plated finishes, is expanding its footprint across key Indian markets as part of a focused growth strategy. With an aesthetic rooted in clean design, craftsmanship and accessible luxury, the brand is striking a chord with jewellery lovers seeking quality, versatility and meaning, whether for everyday wear or meaningful gifting.

Embrell was born with the idea of making high-quality, beautifully designed jewellery more accessible without compromising on intention or individuality. Since its inception, the brand has resonated with a growing community of wearers who value minimalism, thoughtful statement pieces, and a sense of purpose in their style. Its clean yet expressive aesthetic continues to attract discerning consumers across age groups who are looking for jewellery that feels both personal and elevated.

“We’ve always believed that jewellery is more than just an accessory. It’s a form of self-expression,” said the team Embrell. “This next phase allows us to connect with more individuals who value meaningful design while continuing to craft pieces that feel personal, versatile and elevated.”

Embrell’s carefully curated range of demi-fine jewellery is designed to complement everyday style and effortlessly transition into special occasions. Every piece reflects our signature approach with modern silhouettes and a global design sensibility adapted for timeless wear. Whether it’s a bold ring, a refined chain or an occasion piece from our celebration edits, Embrell jewellery is created to be worn, gifted and cherished across moods and moments.

Commenting on the expansion, Priyanka Silotia, Founder of Embrell, said:
“Embrell began with a simple yet powerful idea to create jewellery that looks beautiful and also carries meaning. With over a decade of experience in building brands and shaping customer experiences, I wanted to bring that same thoughtfulness into jewellery. Every piece we design is rooted in storytelling, self-expression and quality. This next phase of growth gives us the opportunity to share our philosophy with a wider audience who appreciate design that is intentional, versatile and made to last. We’re just getting started and incredibly excited for what lies ahead.”

With a strong D2C foundation and an engaged online community, Embrell’s growth strategy includes expanding into leading marketplace platforms, deepening influencer-led campaigns and introducing a selective offline presence through curated pop-ups and brand collaborations in the coming year.
As the fashion and gifting landscape continues to evolve, Embrell is well positioned to offer a fresh and elevated alternative, where luxury jewellery becomes part of everyday self-expression rather than an occasional indulgence.

Apparel Group Strengthens South India Presence with Latest Victoria’s Secret Beauty Store in Chennai

7th July 2025, Chennai, India: Apparel Group, a global retail and fashion conglomerate, is furthering Victoria’s Secret impressive growth in India with the opening of its latest store at Express Avenue Mall in Chennai. This significant expansion establishes the brand’s presence in its seventh Indian city and brings its total store count to 13 nationwide. This strategic move into South India reinforces Victoria’s Secret commitment to its rapid growth trajectory and its mission to deliver globally recognized beauty experiences to a wider local audience.

Spanning 1102 sq. ft., the store is strategically located in one of Chennai’s premier retail destinations and features Victoria’s Secret signature beauty and fragrance collections. From favorites like Bombshell, Tease, Very Sexy, and Bare Eau de Parfum, to bestselling body mists, lotions, and beauty accessories, the store has been thoughtfully curated to be a one-stop destination for beauty lovers.

Speaking on the occasion, Mr. Tushar Ved, President of Apparel Group India, shared, “The launch of our first Victoria’s Secret beauty store in Chennai represents a key strategic expansion for us in South India. Express Avenue, being one of the region’s most prominent retail hubs, offers the ideal platform to bring the brand’s prestige beauty portfolio to a discerning customer base. Our goal is to enhance accessibility to globally renowned offerings while maintaining the elevated brand experience Victoria’s Secret is known for.”

Mr. Abhishek Bajpai, CEO of Apparel Group India, added, “Chennai’s dynamic and rapidly evolving retail landscape and fast-evolving retail culture present a strategic growth opportunity for us. With this launch, we continue our focused effort to scale high-performing global brands across India. Victoria’s Secret not only strengthens our portfolio but also aligns with our goal of delivering elevated, experience-led retail formats that resonate with today’s discerning Indian consumer.”

The new store will exclusively feature prestige beauty products from Victoria’s Secret, reinforcing the brand’s position as a global leader in the beauty and personal care segment. With its signature iconic product lines and personalized service, Victoria’s Secret continues to create a space where customers feel confident, celebrated, and inspired.

Shri C.R. Patil and Varun Dhawan Grace the Grand Launch of Le Méridien Ahmedabad

Ahmedabad, July 7: The grand debut of Le Méridien Ahmedabad was marked by a distinguished gathering, led by Shri C.R. Patil, Hon’ble Member of Parliament, President of BJP Gujarat, and Minister of Jal Shakti, who graced the occasion as Chief Guest.

Bollywood actor Varun Dhawan added a dash of glamour to the evening, engaging warmly with guests and touring the hotel’s thoughtfully designed spaces.

Blending modern European hospitality with Ahmedabad’s rich textile heritage and globally influenced cuisine, Le Méridien Ahmedabad signals a new era of cosmopolitan luxury in Gujarat.

The launch was an elegant, intimate affair — thoughtfully curated and deeply aligned with the brand’s creative and cultured identity, setting the tone for Ahmedabad’s rise as a destination of global repute.

Discover Signature Stays at ITC Royal Bengal

Immerse yourself in a new level of indulgence with Signature Stays at ITC Royal Bengal, an iconic address of grandeur and timeless elegance in Kolkata. With an exclusive offer crafted for the discerning traveller, guests can now enjoy exclusive rates on 1 & 2 BHK serviced apartments.

Located in the heart of the city, the magnificent LEED Platinum-certified ITC Royal Bengal is an ode to the region’s heritage. As a paragon of refinement and luxury, it features 456 rooms and suites, including 82 serviced apartments, along with 7 dining destinations offering a wide and eclectic selection of local and global gourmet cuisines.

Guests availing the Signature Stays offer will enjoy 15% savings on flexible rates, including complimentary breakfast and access to the Signature Lounge with curated luxury hours from 6 to 8 PM. This bespoke offer unlocks an immersive stay experience in spacious apartments, combining the comfort of home with the luxury of a five-star retreat.

Whether you’re in the city for business or leisure, you will enjoy an One-of-a-Kind experience that is truly a treat for the senses unlike any other.

This offer is valid until 30th September, 2025. So, don’t miss the opportunity to experience the warm hospitality and tranquillity of ITC Royal Bengal. Book your experience directly on the ITC Hotels website or download the ITC Hotels app for a seamless and personalized booking experience.

Campus Activewear Expands To Sri Lanka Through Strategic Partnership With Signature, Under Hameedia Group

New Delhi, 05 July, 2025: Campus Activewear, one of India’s leading Sports and Athleisure footwear brands, has officially announced its foray into the Sri Lankan market. As part of this strategic expansion, Campus has partnered with Signature, the island nation’s most admired menswear brand under the esteemed Hameedia Group – an established and leading fashion and lifestyle retailer. The launch event was held today at the H-Sports Store in Racecourse, Colombo, Sri Lanka.

Through this collaboration, Campus’ products will now be available in Signature showrooms, H-Sports outlets, and the Signature website – offering Sri Lankan consumers greater access to globally inspired, fashion-forward footwear.

This reinforces Campus Activewear’s ambition to tap into high-potential global markets. Backed by a strong omnichannel strategy across both distribution and D2C channels, the brand is now bringing its extensive product portfolio to Sri Lanka – a market increasingly drawn to stylish, value-driven lifestyle products.

Speaking on the development, Mr. Nikhil Aggarwal, CEO & Whole Time Director of Campus Activewear Ltd, said, “We are proud to enter the Sri Lankan market through a strategic partnership with Signature under the Hameedia Group. This expansion aligns with our long-term strategy of entering scalable, high-potential markets that resonate with our brand philosophy and product strengths. Sri Lanka offers a promising landscape with its rising consumer appetite for accessible, fashion-forward lifestyle products. By leveraging Signature’s strong brand presence and our own proven-product capabilities, we aim to mirror the success that we have seen in India.”

 Amjad Hameed, Director of Signature, said, “At Signature, we are always on the lookout for brands that align with our promise of offering style, comfort, and value to our customers. Campus is a brand that resonates strongly with today’s fashion-conscious youth, and we are proud to bring this iconic name to Sri Lanka. We are confident this partnership will redefine the footwear retail space in Sri Lanka, just as Signature has done with men’s fashion”.

Campus will roll out its range across lifestyle, running, and walking, supported by local marketing, retail activations, and omnichannel access via Signature and H-sports, retail and digital network. With this launch, Campus has taken a firm step toward becoming a leading player in the South Asian Sports and Athleisure landscape.