WebEngage Teams Up with SGA PR to Elevate Global Retention Marketing Discussion

Mumbai, 3rd October 2024: WebEngage, a full stack Retention Consultancy empowering brands to become enduring businesses, has partnered with SGA PR, a rapidly growing communications consultancy offering new-age business-oriented communications services. This collaboration marks a breakthrough in SGA PR’s expansion into the MarTech space and further strengthens the consultancy’s portfolio in the B2B SaaS ecosystem.

WebEngage offers innovative retention marketing strategies to consumer brands for better and more effective engagement with their customers. Serving over 800 brands globally, including IKEA, Unilever, Walmart, Myntra, Bajaj Auto, Groww, Modern Electronics, Sony World KSA, Airtel Africa and Unacademy, WebEngage operates across diverse industries such as Retail & eCommerce, BFSI & Fintech, Edtech, Foodtech, Media & Publications, Gaming, Healthcare among others. The platform’s innovative solutions unify data, automate campaigns, and deliver AI-driven personalization, helping brands enhance customer retention and drive marketing ROI.

The MarTech industry across the globe is evolving rapidly with an increasing number of marketers opting for technology to boost their marketing programs. SGA PR’s expertise in crafting tailor-made communication narratives will help WebEngage in capturing the mindshare of marketers thus further cementing its position as a leader in the retention marketing space.

“Customer Engagement and Retention have become more important than ever as brands move towards sustainable, profitable growth. In our mission to tie together high-quality user retention with enduring businesses and make this a mainstream conversation, we are happy to have a partner who understands new-age communications and brings agility and proactivity in their approach.” said, Ankur Gattani, Chief Growth Officer, WebEngage.

Rahul Jain, Partner & Joint CEO of SGA PR, said, “We are excited to join forces with WebEngage that is building and driving the narrative for retention marketing and customer data platform (CDP) in the APAC and MENA region. Our program’s aim will be to establish strong brand credibility through innovative ideas and storytelling to establish the MarTech as the ‘partner of choice’ for retention marketing.”

This win further strengthens SGA PR’s portfolio, as the new-age communications consultancy works with a host of clients across BFSI, Fintech, PE/ VC, B2B SaaS, D2C, LogisticsTech and Blockchain among other large corporates.

Strategic Growth Advisors (SGA) also houses India’s largest Investor Relations firm, the country’s second largest Corporate Reporting business and a fast-growing Brand & Design vertical.

Covestro Partners with ADNOC in Investment Agreement and Public Takeover Support

Covestro AG (“Covestro” or “Company”) today signed an Investment Agreement with certain entities of the ADNOC Group, including ADNOC International Limited (“ADNOC International”) and its subsidiary, ADNOC International Germany Holding AG (“Bidder”). The agreement stipulates, among other items, that the Bidder will make a public takeover offer for all outstanding shares of Covestro at a price of €62.00 per share. In addition, ADNOC International is committing itself to fully supporting the Company’s “Sustainable Future” strategy. At the same time, the Board of Management and the Supervisory Board of Covestro decided today that upon completion of the transaction, the Company’s share capital shall be increased by 10% (18.900.000 shares) and that, at and subject to closing, the new shares shall be issued to the Bidder against payment of a price per share equal to the offer price, thus, based on an offer price of €62.00 against a total amount of €1.17 billion, under simplified exclusion of subscription rights.

Dr. Markus Steilemann, CEO of Covestro, said: “We are convinced that the agreement reached today with ADNOC International is in the best interest of Covestro, our employees, our shareholders, and all other stakeholders. With ADNOC International’s support, we will have an even stronger foundation for sustainable growth in highly attractive sectors and can make an even greater contribution to the green transformation. We regard ADNOC International as a financially strong and long-term oriented partner with whom we will further drive our successful “Sustainable Future” strategy in all market conditions. Our complementary growth strategies, shared commitment to advanced technologies, innovation and sustainability are key cornerstones of our partnership.”

His Excellency Dr. Sultan Ahmed Al Jaber, ADNOC Managing Director and Group CEO, said: “As a global leader and industrial pioneer in chemicals, Covestro brings unmatched expertise in high-tech specialty chemicals and materials, using advanced technologies including AI. This strategic partnership is a natural fit and aligns seamlessly with ADNOC’s ongoing smart growth and future proofing strategy and our vision to become a top 5 global chemicals company. It represents a pivotal step for both organizations and embodies our disciplined approach to investing in strategic assets that drive long-term value and unlock new growth opportunities, while reinforcing our commitment to diversifying ADNOC’s portfolio. Our aligned strategies uniquely position us to meet the growing global demand for energy and chemical products, while accelerating the transition to a circular economy.”

Key transaction details

The Bidder intends to make a cash offer to Covestro shareholders of €62.00 per share. This price implies an equity value for Covestro of approximately €11.7 billion and represents a premium of approximately 54 percent to the unaffected closing price on June 19, 2023, the day prior to any media coverage of a potential transaction, and a premium of 21 percent to the closing price on June 23, 2024, the last share price prior to Covestro announcing the beginning of the confirmatory due diligence and the start of concrete negotiations.

The offer will be subject to a minimum acceptance level of 50 percent plus one share and customary closing conditions, including merger control, foreign investment control, EU foreign subsidies clearances.

In compliance with the German Securities Acquisition and Takeover Act (Wertpapiererwerbs- und Übernahmegesetz, WpÜG), the offer document, which is expected to be available within six weeks, and other information pertaining to the Bidder’s public takeover offer will be made available on the following website after approval by BaFin (Bundesanstalt für Finanzdienstleistungsaufsicht): www.covestro-offer.com.

After thorough consideration, the Supervisory Board and the Board of Management of Covestro welcome and support the Bidder’s announced takeover offer. Both boards will carefully review the offer document after its publication and will issue their reasoned statements pursuant to Section 27 WpÜG shortly after. Subject to the review of the offer document, the Board of Management and the Supervisory Board assume that they will recommend the acceptance of the offer to the Company’s shareholders.

Partnership enables expansion of Covestro’s excellent position in attractive growth markets

Covestro has a clear growth strategy and is already making significant progress in its strategic transformation that will further expand its excellent position in attractive growth markets. ADNOC International sees Covestro as the foundational platform of its Performance Materials and Specialty Chemicals business and is convinced of Covestro’s strategic perspective and its vision to become fully circular.

In the joint Investment Agreement, which runs until the end of 2028, Covestro and certain entities of the ADNOC Group, including ADNOC International, have agreed on the main cornerstones of the partnership. In particular, the agreement contains several obligations on the part of ADNOC International to maintain Covestro’s existing business activities, corporate governance and organizational business structure.

ADNOC International has assured Covestro of its full support for Covestro’s “Sustainable Future” strategy and intends to fully support Covestro in further executing on this strategy. To this end, the Bidder shall subscribe to new Covestro shares at the offer price via an increase of the Company’s share capital by 10% under simplified exclusion of subscription upon the completion of the transaction, this will result in an amount of €1.17 billion proceeds at an offer price of €62.00 which Covestro will use to foster the further implementation of its growth strategy.

In the agreement, ADNOC International commits, among other items, to recognizing the German governance regulations and to retaining the co-determined Supervisory Board. An important component is also the commitment that two members of the Supervisory Board on the shareholder representatives’ side will remain independent of ADNOC Group after the takeover offer has been completed.

The Investment Agreement also contains ADNOC International’s explicit recognition of the existing general works agreements, collective bargaining agreements and the rights of the works councils in Germany. In addition, there are no plans to sell, close or significantly reduce Covestro’s business activities as part of the transaction and ADNOC International undertakes in the Investment Agreement not to initiate any of the above. The Investment Agreement also contains a commitment to protect Covestro’s technology and intellectual property.

Furthermore, ADNOC International undertakes in the Investment Agreement that Covestro will continue to be managed as a stock corporation and that no domination and/or profit and loss transfer agreement will be concluded with Covestro.

Hungry Much? Snack Smarter with SnackPure, A New Name of Healthy, Flavour-Packed Snacking

Bengaluru, October 3, 2024: SnackPure (by Zuari), a guilt-free healthy snacking brand, is all set to take the Indian snacks and chips market by storm with its irresistible, palm-oil-free munchies. From the crunchy makhanas to the flavorsome namkeens and chips made from beetroot, soya, moong, ragi, or oats, these snacks are as delicious as they are nutritious. Packed with nutrients and all healthy vibes, SnackPure is here to take you on a flavourful ride. Whether it’s morning coffee, Netflix binges, or when the midnight munchies hit, SnackPure has got you covered with a range of mouthwatering snacks with a full flavour crunch, minus the guilt.

What’s Pop-ping?? SnackPure’s new lineup is fire, packed with flavors you won’t want to miss! First up, is the Millet Crunch—perfect for those mid-day “I-need-a-boost” moments while you’re working from home or at the office. If you’re in the mood for something spicy, the Peri-Peri Soya Sticks will blow up your taste buds with their crunch. And don’t forget the Garlic Moong Dal Chips; great for pairing with your favorite tea or coffee for a seriously flavorful snack.

Looking for something nutritious? The Ragi Poha Masala is spicy and delicious, making it a hit for everyone from your little cousin to your grandma. For late-night cravings, try the Beetroot Chips with a Jalapeno kick that has a zingy, sweet-spicy vibe that’s hard to resist. The Achari Ragi Chips are tangy and crispy, perfect for enjoying with dips or drinks. And let’s not overlook the Oat Chips with Cream & Onion; they deliver creamy, crunchy goodness that pairs beautifully with yogurt or chutney for a truly indulgent treat. Best of all, there’s no palm oil and no compromises—just good-for-you, flavorful snacking that hits differently.

SnackPure’s mission is to make snacking not just a tasty experience but one that’s packed with well being too. Because why should people have to choose between flavor and health? Each product is crafted with love and care, designed to fit into the fast-paced life while keeping busy souls fueled and focused.

SnackPure’s Head of Sales & Marketing, Mr. Ravi comments on the launch, “We’re beyond excited to drop these new snacks! SnackPure is all about delicious, guilt-free snacking that fits your busy lifestyle. We know health-conscious Gen Z and millennials want it all—great taste, zero bad stuff—so we made it happen. We‘re sure SnackPure is about to become your snack-time MVP, whether you’re munching at home, with friends, or just need a quick pick-me-up.”

With an exciting starting price of just 145 Rs, SnackPure’s tasty, guilt-free snacks are now available on Zuarifoods.com and Amazon with delivery across India. So, what are you waiting for? It’s time to snack smarter, not harder

Top Decile startup fund TDV Partners launches their new fund of Rs 50 Crore

Bangalore, 3rd Oct, 2024: Early Stage focused micro VC firm Trillion Dollar Ventures has announced the launch of their second fund with a total corpus of Rs 50 Crore. The fund aims to back innovative founders with a global outlook from Day 1, supporting companies in the pre-seed and seed stages with cheque sizes ranging from Rs 1-2 crore per startup. The vision of the fund is to collaborate and nurture companies that can potentially become Trillion Dollar Ventures of tomorrow.

Founded in 2021, by Ujwal Sutaria, Founder & General Partner, TDV Partners, is a 2X founder turned investor, thus bringing in founders experience along with investing. He collaborates with entrepreneurs from pre-revenue stages, offering support in brainstorming ideas, finding PMF, gaining early traction and follow-on fundraising. The firm’s investment thesis focuses on backing serial founders or those with deep domain expertise, with a strong preference for high-tech, low-operations businesses. The fund lifecycle has also been kept between 5 – 7 years which is half of traditional fund life cycles that ranges from 10 – 12 years, thus returning capital faster to the LPs for more active deployments.

With the new fund launch, the VC firm will invest in business models like Platform plays, Marketplaces, and Exchange businesses across various consumer tech(B2C) categories such as Spirituality Tech, Fintech, Gaming, Creator Economy, Social, and Consumer Upgrade. TDV is one of the few funds in India today focusing on new category building segments like spiritual tech and consumer upgrade. The firm believes that they are at an inflection point to scout early stage companies in these sectors and back some of the eventual category winners generating a multi-bagger opportunity for the fund.

TDV Partners plans to begin deploying capital from Q3 of this financial year.

Ujwal Sutaria, Founder & GP, TDV Partners, says, “We want to back startups with potential of Trillion Dollar outcomes as our name reflects our genesis of backing startups. We believe in taking non consensus bets which is where a fund makes the alpha. Our proven track record with the last fund has encouraged us to double the target corpus with the second fund and increase the average investment size too. With our first fund, we have provided an exit opportunity within 2 years of investing in the company and generated over 60% IRR. The Fund I MOIC is 3 within two and a half years. We are confident of continuing our track record with the new fund as well.”

The Fund has already been receiving strong commitments from LPs in India as well as across countries like US, UK, UAE, SG further validating the early stage investment model and the high returns it can generate. The backers include top global unicorn founders, family offices and many CXOs across industries globally.

“There are few pre-seed focused funds in India, creating a bottleneck for visionary founders to raise capital quickly. We want to fill this market gap and provide support, access and growth to startups in addition to capital infusion,” he adds.

The due diligence process at TDV Ventures places a strong emphasis on founders. Significant time is spent understanding what founders are building, why they are building it, their vision, and how they plan to execute. This includes exploring the type of company they aim to create. Alongside traditional evaluations such as market size, competitor landscape, and potential to win, TDV Partners also focuses on how they can add value to the founders and their startups, making this a key differentiator in the investment process.

TDV Partners anticipates making 10-12 investments annually. Ujwal, with six+ years of startup investing experience and having run TDV Partners for the past three years, has already backed more than 30 companies, half of which have gone on to raise subsequent funding rounds.

Ujwal Sutaria has extensive experience in venture capital and entrepreneurship. Previously an Associate Director at InnoVen Capital, he managed companies like Swiggy, Eruditus, Licious and Blackbuck. A 2X entrepreneur, Ujwal founded Athletto and FruitOn, and began his career at Powergrid, handling commercial aspects of their multibillion assets across India.

Tata Motors registered total sales of 2,15,034 units in Q2 FY25

Bengaluru, October 3, 2024: Tata Motors Limited sales in the domestic & international market for Q2 FY 2024-25 stood at 2,15,034 vehicles, compared to 2,43,024 units during Q2 FY 2023-24.

Domestic Sales Performance:

Commercial Vehicles:

Domestic sales of MH&ICV in Sept 2024, was 14,190 units vs 18,577 units in Sept 2023; In Q2 FY25 it was 37,372 units, compared to 45,174 units in Q2 FY24.

Domestic & International sales for MH&ICV in Sept 2024, was 14,839 units vs 19,199 units in Sept 2023; while in Q2 FY25 it stood at 39,433 units, vs 46,865 units in Q2 FY24.

Mr. Girish Wagh, Executive Director, Tata Motors Ltd. said, “Tata Motors Commercial Vehicles domestic sales at 79,931 units in Q2 FY25 were ~19% lower than Q2 FY24 sales. Sales in September 2024 were ~11% higher compared to August 2024. 

Slowdown in infrastructure project execution, reduction in mining activity and an overall drop in fleet utilization due to heavy rains resulted in the HCV segment record a 25% YoY decline in Q2 FY25 and the ILMCV segment register a 11% decline. The resilient demand in the passenger commercial vehicles business saw it register a 3% increase in Q2 FY25 over Q2 FY24. SCVPU volumes decline by 25% YoY, and we expect a gradual improvement as we press on with initiatives to address challenges in first-time user financing.

As we move forward, with the rains easing, increased infrastructure spending, and the arrival of the festive season boosting consumption, we anticipate demand to pick up gradually in Q3, led by ILMCV and Buses, followed by M&HCV and SCVPU.”