22, Jan 2025
JEET: Ramakrishna Sarada Samiti & SBI Foundation Unveil Free Lifetime Access to New Learning Platform
22.01.2025, Mumbai: Ramakrishna Sarada Samit i (RKSS), one of the most prominent non- governmental organizations in India, along with the State Bank of India (SBI) Foundation, unveiled JEET today. JEET is an educational platform with an inbuilt LMS that will provide learning content for students from more than 10,000 government schools across six States in India. With the help of this web-based LMS platform, JEET is targeting to serve ten lakh economically disadvantaged students from KG to 12 by providing them with a lifelong free learning platform.
Speaking at the occasion, Shri Raghu Pilaka, Director, RKSS said, “Quality education (SDG 4) is a fundamental right. RKSS has championed education for underprivileged communities for 55 years. During the COVID-19 pandemic, the idea emerged to curate vast online educational content into accessible resources for government schools. By 2023, this vision became a nationwide NGO alliance supporting every child’s education. Inspired by Swami Vivekananda’s words, ‘Educate and raise the masses, and thus alone a nation is possible,’ we proudly launch the FREE Web-Based LMS – JEET today on his 162nd birth anniversary. JEET, a result of collective NGO efforts, will empower underserved children with quality education to overcome socio- economic barriers and become future leaders of India. We are actively using AI to scale our work through EduX platform and many more initiatives in video based learning.”
With the goal of empowering under-resourced and disadvantaged students, JEET will offer more than 12,000 rich and high-quality educational videos in phase one and will soon scale up to 1 lakh videos. The content bank of video links available through the LMS was obtained from NGOs and organisations across India. This includes Avanti Fellows, BCPT, Educomp Mathguru, Khan Academy, Magnet Brains, Pratham NGO, Tic Tac Learn, Vimbue, V.K.R.C.E. Trust, Coimbatore, etc.
Speaking at the launch ceremony, Shri Sanjay Prakash, Managing Director, SBI Foundation said, “As the CSR arm of State Bank of India, SBI Foundation is dedicated to making a lasting and meaningful impact on the society. Since its inception in 2015, our mission has focused on empowering marginalized communities and vulnerable populations, with a particular emphasis on fostering growth, education, and equality. Through Project JEET, we aim to bridge India’s digital divide by providing free, high-quality educational content. In partnership with RKSS, this platform will offer educational videos in regional languages, along with Hindi and English, ensuring accessibility for students across diverse backgrounds. By aligning the content with State Board syllabi, JEET complements classroom learning and supports government schools in delivering quality education. We are confident that JEET will not only expand academic resources but also help overcome technological barriers, creating a more inclusive and equitable education system for all.”
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22, Jan 2025
NDR InvIT Makes Strategic Expansion with INR 7,061 Million Acquisition of Warehousing and Industrial Properties
Mumbai, January 22, 2025: NDR InvIT Trust, a leading player in India’s infrastructure investment space, has announced the acquisition of a Grade-A industrial and warehousing portfolio spread across the markets of Surat, Hyderabad, Bengaluru, and Pune. This strategic acquisition adds 2.01 million square feet (MSF) of fully operational, high-quality assets to NDR InvIT’s growing portfolio, underscoring its commitment to creating a diversified and scalable infrastructure footprint across key growth centers.
The acquisition, valued at INR 7,061 million, is expected to deliver robust returns and includes properties with 100% occupancy, marquee tenants, and a weighted average lease expiry (WALE) of 15.4 years. The transaction will be financed through a mix of cash consideration (INR 5,651 million) and a preferential issue (INR 1,410 million), which will see 11.01 million units allotted at INR 128 per unit, representing a 21.6% premium over the trade price.
Portfolio Highlights:
● Surat (0.90 MSF): Warehousing facilities leased to marquee tenants, contributing 41.6% of the portfolio’s Gross Asset Value (GAV).
● Hyderabad (0.40 MSF): Built-to-suit warehouse leased to multiple tenants, comprising 9.5% of GAV.
● Bengaluru (0.33 MSF): Facility leased to NxtGen (backed by IFC and Intel), representing 31.3% of GAV.
● Pune (0.39 MSF): Built-to-suit facility for a leading automotive OEM supplier, contributing 17.6% of GAV.
The acquisition is expected to enhance NDR InvIT’s consolidated GAV by 15.22%, increase its operating area by 12% to 19 MSF, and further diversify its geographic presence by entering the Surat and Hyderabad markets while strengthening its foothold in Bengaluru and Pune.
Key benefits and impact of this acquisition:
- Enhanced Portfolio Metrics: Post-acquisition, the portfolio’s WALE increases to 12.1 years, ensuring long-term income stability.
- NAV Accretion: The acquisition is expected to deliver a 3% accretion in Net Asset Value (NAV), increasing it to INR 130.81 per unit.
- Income Growth: An 8.7% cap rate on FY 2026 NOI underscores the accretive nature of the transaction, with net distributable cash flow (NDCF) per unit anticipated to increase by 0.5%.
- High-Quality Tenants: The properties are leased to industry-leading tenants, ensuring steady cash flows and long-term lease commitments.
Mr. Amrutesh Reddy, Director, NDR InvIT Managers, said, “This acquisition marks a significant step in strengthening our portfolio with high-quality, diversified assets that align with India’s infrastructure growth ambitions. As the country focuses on modernizing supply chains under initiatives like the Gati Shakti National Master Plan and the ‘Make in India’ campaign, these strategic investments reaffirm our commitment to advancing the warehousing and industrial sectors while delivering long-term stable returns to our stakeholders. By expanding into key markets such as Surat and Hyderabad, we are well-positioned to address the rising demand for world-class industrial and logistics infrastructure.”
22, Jan 2025
Persistent Secures Prestigious AA+ Rating from ICRA Limited
January 22, 2025, Santa Clara, CA and Pune, India
Persistent Systems, a global leader in Digital Engineering and Enterprise Modernization, today announced that it has achieved [ICRA]AA+ (Stable) credit rating, reinforcing its strong financial position, business resilience, and operational excellence.
ICRA Limited (ICRA) is an Indian independent and professional investment information and credit rating agency. ICRA’s comprehensive rating assessment involves an in-depth evaluation of financial statements, extensive discussions with the senior leadership team, and a detailed analysis of business performance. Key factors such as revenue growth, operational efficiency, capital structure, and liquidity position are meticulously reviewed to gauge financial resilience and long-term stability.
The AA+ (Stable) rating from ICRA reinforces stakeholder trust, demonstrating Persistent’s sustained growth momentum and resilience in navigating dynamic macroeconomic conditions. The key rating drivers and strengths highlighted by ICRA include:
- Experienced leadership with a proven operational track record, complemented by well-established relationships with a diverse customer base across various industries.
- Strong revenue growth and a healthy order book ensuring consistent revenue visibility, driven by a diversified mix of large and mid-sized deals across key sectors with an increasing share of new business wins.
- A robust financial profile driven by healthy cash flow generation and capital structure, reflects the financial stability and positions Persistent to sustain its growth momentum and navigate future opportunities effectively.
This credit rating will also serve as a key enabler in Persistent’s bid pursuits with larger clients, who often require vendor partners to demonstrate strong financial robustness as part of their selection criteria. The AA+ (Stable) rating provides a credible assurance of Persistent’s financial health, further enhancing the Company’s ability to secure strategic engagements and expand its footprint in the enterprise market.
Sandeep Kalra, Chief Executive Officer and Executive Director, Persistent
“We are proud to have achieved the [ICRA]AA+ (Stable) rating, which serves as a testament to our strong business fundamentals, financial health, and operational excellence. This recognition reflects the trust we have built with our clients, shareholders, and employees over the years. We will continue to drive top-quartile industry performance through disciplined execution, innovation, and global expansion, while maintaining a robust capital structure and healthy liquidity position. By doing so, we aim to sustain our growth momentum and create long-term value for all our stakeholders.“
22, Jan 2025
‘Daakroom – The Letter Writing Carnival’ by JK Paper Ltd. Captivates Mumbai Audience
Mumbai, 22nd January 2025 – After five successful editions across Northern India, Daakroom – The Letter Writing Carnival made its much-awaited debut in Mumbai at the World Trade Center. Presented by JKPaper Ltd and supported by India Post, the event celebrated the timeless art of handwritten letters, offering a day filled with creativity, nostalgia, and connection. The carnival created a vibrant and engaging atmosphere that brought generations together to rediscover the beauty of handwritten communication. The Writing Zone stood out as a highlight, with a Walk-In Post Office by India Post, featuring a real letterbox and postmen riding bicycles through the event, evoking nostalgia and authenticity. Unique experiences like vintage letter scrolls sealed with wax, a typewriter station, live calligraphy, caricatures, handwriting analysis and interactive writing invited visitors to immerse themselves in the world of letters, art, and tangibility, sparking meaningful conversations and heartfelt connections.
22, Jan 2025
Tajurba Hosts a Transformative Full-Day Workshop on SME to IPO at Hotel Crowne Plaza, Okhla
New Delhi, January 22, 2025 – Tajurba, India’s leading business networking platform for SMEs, successfully organized a full-day workshop on the topic “SME to IPO” at Hotel Crowne Plaza, Okhla. The event witnessed an overwhelming response, with over 200 SME business owners from across India attending to explore the potential of taking their businesses public through SME IPOs.
The workshop was conducted by Suresh Mansharamani, India’s top SME IPO coach, celebrated for his unparalleled expertise in guiding small and medium-sized enterprises on the path to growth, fund-raising, and stock market listing.
During the session, Suresh Mansharamani shared deep insights on every critical aspect of the IPO journey, including:
- Fundraising Strategies
- Valuation Essentials
- Step-by-step process of Listing on the SME Exchange
He also stressed the importance of building a strong financial foundation for businesses aspiring to go public. “SMEs must ensure their books are clean, all compliances are strictly adhered to, and their balance sheets are healthy and transparent. These are essential prerequisites for a successful listing,” Mr. Suresh Mansharamani, co-founder of Tajurba Business Network emphasized.
The workshop provided attendees with actionable strategies and practical knowledge, empowering them to scale their businesses and unlock new opportunities through public listings.
Speaking about the workshop’s success, Tajurba’s co founder Uma Mansharamani said, “Our mission is to help SMEs scale up and achieve their true potential. This workshop is another step towards enabling business owners to realize their IPO dreams and become key contributors to India’s economic growth.”
The event concluded with interactive Q&A sessions, networking opportunities, and success stories of SMEs that have already made their way to the stock exchange.
22, Jan 2025
Life-Changing TAVR Procedure Helps 94-Year-Old Mumbai Woman Overcome Health Challenges
Mumbai: In a ground-breaking medical success, a frail 94-year-old woman from Mumbai has regained her independence and quality of life after undergoing a Transcatheter Aortic Valve Replacement (TAVR) procedure. Weighing only 36 kg, Bhanbai Gala was treated for severe aortic stenosis by the veteran interventional cardiologist Dr Ravinder Singh Rao.
Bhanbai Gala, grandmother to a general practitioner Dr. Mita Gala, had been battling severe chest heaviness and breathlessness for months. Her condition limited her ability to walk even a few steps and disrupted her daily routine. A bypass surgery in 2010 and her frailty put her at high risk for treatment. Yet, her determination to attend her great-grandson’s wedding led her family to seek medical solutions.
Following detailed evaluations, Dr Rao recommended TAVR, a minimally invasive procedure to replace the aortic valve. TAVR was deemed high risk in view of advanced age and previous bypass surgery. Performed under local anaesthesia, the hour-long procedure involved inserting a new valve via the femoral artery, replacing the narrowed aortic valve without complications. The patient started to breathe better overnight.
Dr Rao said, “Our extensive experience with TAVR helps to perform the procedure safely in a complex situation. The valve starts functioning immediately, and when these patients go home without complications, they do extremely well. TAVR is a game-changer for patients with aortic stenosis. It is also approved for low-risk patients in their 60s if the valve can be replaced from the groin vessel,” said Dr Rao. “Her small build, complex anatomy, and Trifascicular AV block posed challenges, but meticulous planning ensured a safe and successful outcome.”
Bhanbai Gala was discharged within 48 hours and experienced significant improvements in her symptoms. At her one-month follow-up, she reported walking comfortably, completing household chores, and even preparing her favourite dessert, Khajur Pak.
Her family was overjoyed. “As a doctor, I had doubts about the safety of TAVR for my grandmother, but Dr Rao’s expertise and constant support eased our concerns,” said her granddaughter Dr. Mita Gala. “Seeing her enjoy the wedding rituals with enthusiasm was truly a blessing.”
Bhanbai Gala’s story highlights the transformative potential of advanced medical technology like TAVR. It offers a beacon of hope for elderly patients seeking a better quality of life to experience their joyful occasions to the fullest.
In India, the number of TAVI Procedures, is increasing year by year since its first use in 2011. With the prevalence of 7.3% for isolated aortic stenosis, an estimated TAVI–eligible population is roughly about 300,000 people.
22, Jan 2025
Mother and Preterm Baby Survive Rare Disorder in High-Risk Pregnancy at Wockhardt Hospitals, Mira Road
Mumbai: In a remarkable achievement, a team led by Dr Rajashri Tayshete Bhasale, Consultant Obstetrics & Gynaecologist and Laparoscopic Surgeon, consisting of Nephrologist Dr Puneet Bhuwania, Hematologist Dr. Muralidaran C. successfully treated a 26-year-old pregnant woman who arrived in critical condition with a hemoglobin level of 2 (g/dL) and a rare diagnosis of catastrophic antiphospholipid antibody syndrome (APLA). The woman delivered a healthy preterm baby weighing 1.2 kg following an emergency cesarean section and an intensive medical intervention, including plasmapheresis therapy, multiple blood transfusions, and steroid treatments to improve the baby’s lung maturity.
Patient Isha ( name changed), a resident of Palghar, multigravida (in her second pregnancy) experienced low hemoglobin of 4 (g/dL) in her 8 months of pregnancy in November 2024 The patient’s hemoglobin dropped to 2 (g/dL) by the time she reached Wockhardt Hospitals, Mira Road. Fortunately, the mother and the baby were safe due to the timely intervention by the skilled team of doctors.
Dr Rajashri Tayshete Bhasale, Consultant Obstetrics & Gynaecologist and Laparoscopic Surgeon at Wockhardt Hospitals, Mira Road said, “This was one of the most challenging and unique cases. The patient arrived with severe anemia with hemoglobin of 2, pulmonary edema, and disseminated intravascular coagulation (DIC) which means her blood thinning power had been lost as this was confirmed via a D-dimer, her USG reports were normal. However, the baby’s health started deteriorating. First, we suspected abruption after extensive blood product transfusions, we stabilized enough for surgery while taking care of failure and Pulmonary edema. Emergency LSCS done after stabilization 1.2 kg baby was delivered, but there were no signs of Abruption. Further evaluation with the team including a Haematologist, diagnosis of Catastrophic APLA was made. Catastrophic APLA syndrome was been detected. The condition, seen in approximately 1 in 2 to 5 lakh individuals, posed severe risks to both mother and baby. This rare immunological condition caused her body to destroy hemoglobin, necessitating plasmapheresis therapy which is a type of dialysis procedure to remove harmful proteins
Dr Rajashri added, “The team’s collective effort and timely intervention saved both mother and baby. Thankfully, we could stabilize her and deliver a healthy baby weighing 1.2 kgs despite the odds.”
Dr. Puneet Bhuwania, Consultant Nephrologist & Transplant Physician highlighted, “The successful use of plasma therapy (type of dialysis) in such a critical case highlights the importance of rapid diagnosis and advanced therapies in saving lives. Catastrophic APLA syndrome is a rare, life-threatening condition, and this case showcases how a holistic approach can achieve remarkable outcomes. The patient’s history of unexplained anemia two years ago likely points to an earlier undiagnosed episode.”
The patient and her baby have since been discharged, while the baby received three weeks of preterm care in the NICU. This case underscores Wockhardt Hospitals, Mira Road’s commitment to providing cutting-edge medical care and their expertise in handling complex, life-threatening conditions. It is also a testament to the importance of multidisciplinary teamwork in saving lives.
“I am thankful to Dr Rajashri and her team as they provided us with timely diagnosis and treatment. When I was admitted, I was so weak that I thought I wouldn’t survive, But the team at Wockhardt Hospitals, Mira Road didn’t give up on me. They explained everything clearly and treated me with care and compassion. My baby and I are alive today because of them, and we are forever grateful,” concluded the patient Isha ( name changed).
22, Jan 2025
Union Budget 2025 (Edtech Expectation)- Anil Nagar, Founder & CEO, Adda247
“The Union Budget 2025 is pivotal for India’s education and skilling landscape. Although digital education has made significant progress in the past few years, this year’s real challenge will be bridging the education-skilling-employability gap.
The current digital infrastructure needs to be more robust and accessible. It would be a game-changer if targeted tax breaks and incentivised collaborations between EdTech platforms and educational institutions became part of this budget. This could help create scalable, job-focused skilling programs for in-demand roles across industries. Furthermore, access to skilling for economically disadvantaged students deserves attention. I hope the Government will announce interest-free loans and reduce GST rates on education and skilling initiatives to ensure that learning becomes more accessible to those who need it most.” – Anil Nagar, Founder & CEO, Adda247
22, Jan 2025
Union Budget 2025: Insights from Shivam Agarwal, VP – Strategic Growth, Sattva Group
“As we prepare for the upcoming union budget, it’s crucial to present strategic recommendations to bolster the Indian real estate sector. The introduction of a single window clearance system has already improved approval processes, reducing project timelines and costs. To further enhance the sector, we propose several key measures:
FDI Regulation Adjustments: Review FDI norms to attract domestic and foreign investments, enhancing developer liquidity.
Revising Input Tax Credits: Establish a favorable input tax credit regime to ease financial burdens on developers.
Streamlined GST: Adjust GST for under-construction properties to promote growth in commercial real estate.
Targeted Rental Housing Strategies: Improve rental housing availability to address urban challenges.
Public-Private Partnerships: Invest in infrastructure to enhance connectivity in tier-2 cities.
By implementing these recommendations, we can drive sustainable growth in the Indian economy.”
22, Jan 2025
Tata Power Delhi Distribution and Tata Power EV Charging Solutions Ltd. Sign Agreement to Boost EV Infrastructure
Tata Power Delhi Distribution Limited (Tata Power-DDL), a leading power utility supplying electricity to a populace of around 9 million in North Delhi has announced a strategic partnership today with Tata Power EV Charging Solutions Limited (TPEVCSL) to develop public EV charging infrastructure across the parking sites of Municipal Corporation of Delhi (MCD). The arrangement aims to promote the adoption of electric vehicles in Delhi, aligning with Tata Power-DDL’s vision of a Green Tomorrow and supporting India’s goal of achieving Net Zero emissions by 2070.
The Business Agreement was signed between Tata Power-DDL & Tata Power EV Charging Solutions Limited (TPEVCSL) in the presence of Senior Officials from both the organizations including – Mr. Gajanan S. Kale, Chief Executive Officer, Ms. Kiran Gupta- Chief-Customer Experience, Commercial, Govt Affairs, EAC & Consumer Litigation, Mr. Rashmikant – Head CS&KCG & Mr. Anurag Bansal- Head Legal from Tata Power-DDL and Mr. Virender Goyal (Head Business Development -EV Business), Mr. Deepak Jain (Regional Head- North) from Tata Power EV Charging Solutions Limited (TPEVCSL).
In line with MoP guidelines, as part of its initiative to expand public charging infrastructure in Delhi, the Municipal Corporation of Delhi (MCD) has made its public parking sites available to Delhi Discoms and PSUs, including Tata Power-DDL, for Supply, Installation, Testing, and Commissioning (SITC) of EV charging stations. TPEVCSL has finalized the parking sites and MCD has allocated these designated parking sites to Tata Power-DDL for a period of 10 years. Tata Power-DDL is also working closely with MCD to identify additional sites for the installation of EV charging stations.
Speaking about the partnership, Mr. Gajanan S Kale, CEO, Tata Power Delhi Distribution Limited said, “We are proud to collaborate with Tata Power EV Charging Solutions Limited (TPEVCSL) in this important initiative. This partnership highlights Tata Power-DDL’s expertise in delivering reliable and sustainable power solutions, as well as our commitment to advancing the EV ecosystem in the National Capital.
