The Sandur Manganese & Iron Ores Limited (SMIORE) – Strategic business acquisition of Arjas Steel Private Limited

SMIORE has signed a Share Purchase Agreement (SPA) with an entity affiliated with ADV Partners, an Asia-focused private equity firm to acquire a controlling interest in Arjas. The transaction has been agreed at an Enterprise Value of ₹ 3,000 Crore and will be subject to customary regulatory approvals and closing conditions. Through this transaction, ADV will fully divest its interest in Arjas marking another successful exit from its India portfolio.

This strategic business acquisition accelerates SMIORE’s forward integration plans into steel & value-added products, and unlocks the potential for numerous synergies and integration. Arjas is among the top 5 special steel manufacturers in India supplying to the automobile sector.

Arjas operates out of 2 plants spread across nearly 950 acres, its flagship manufacturing facility in Andhra Pradesh and another facility in Punjab through its wholly-owned subsidiary Arjas Modern Steel Private Limited. Arjas is currently undergoing a major expansion at both its facilities, which will enhance its consolidated capacity as well as expand its downstream facilities.

India is one of the fastest-growing steel & automobile markets in the world, Arjas is geared up to benefit from the ample opportunities for the alloy steel industry in India. Apart from automobiles, Arjas caters to a host of other industries such as energy, railways, defense, engineering, material handling, and agriculture.

Commenting on this milestone, Bahirji A. Ghorpade, Managing Director, SMIORE said:

“This acquisition marks a significant milestone for SMIORE as we venture into steel and value-added products manufacturing. It not only unlocks numerous synergies but also represents a meaningful forward integration for SMIORE. The acquisition will take us another step closer to our strategic transition from a merchant miner to an integrated commodity producer.

Arjas is a well-established player in the special steels segment, serving a host of critical industries that align with the government’s growing focus on infrastructure and India’s rapidly growing manufacturing economy. This acquisition, coupled with our recent mining expansion, positions SMIORE on a robust growth trajectory for the years ahead.

We look forward to working with the existing team of Arjas under the leadership of Sridhar and Visweswaran and welcome them to the Sandur family. To the customers of Arjas, we are committed to ensuring that the highest standards of quality and service that Arjas has been delivering is maintained, and by combining the strength of our mining capabilities with Arjas’s expertise in steel production, we will ensure a reliable and high-quality supply of products. I want to emphasize our unwavering commitment to preserving the long-term vision of Arjas to emerge as a prominent special steel company in India and we will continue the growth trajectory that had been set in place by ADV Partners.”

Commenting on this milestone, Suresh Prabhala, Managing Partner, ADV Partners said:

“The acquisition of erstwhile Gerdau India and subsequent transformation into Arjas Steel was a unique control investment in a conventional industry. This investment is representative of ADV’s focus on India’s manufacturing sector, ability to take a long-term view and support managements in organic and inorganic growth initiatives. The management team led by Sridhar, under the guidance of the Company’s esteemed Independent directors, has done an excellent job navigating through challenging times while delivering growth. We believe that the partnership with SMIORE is a natural next step in Arjas’ journey to establish itself as a leader in the alloy steel industry in India and wish the company and the SMIORE group success in this journey.”

Commenting on this transaction, Sridhar Krishnamoorthy, Managing Director, Arjas said:

“Over the past five years, ADV and its team have contributed immensely to the successful transition of Arjas Steel into an independent entity from the erstwhile Gerdau India. They have supported the Company through the difficult COVID period and helped implement organic and inorganic growth through investments in downstream facilities including Kocks Block, Garrett Coiler, setting up of a 20 MW solar power plant and several other initiatives and through acquisition of the business of Modern Steel in the state of Punjab.

These investments provide a great platform to enable Arjas to achieve its vision of becoming one of the larger special steel manufacturers in the country. The synergistic acquisition of Arjas by the SMIORE group will provide enhanced access to raw materials and further support capacity expansion to achieve our long-term goals. With the support and resources of SMIORE, Arjas will be well-positioned to enhance our offerings, and capabilities and deliver greater value to our customers. This acquisition represents a new chapter in our journey and my team, and I welcome and look forward to working with the leadership of the SMIORE.”

Delhi-NCR Based Shark Tank featured D2C brands share success stories at Simpl’s D2C Unlocked

New Delhi, 27th April 2024: Direct-to-customer (D2C) merchants from Delhi-NCR, such as the hair extension and wigs platform provider HairOriginals, homegrown fashion brand Little Box, and footwear brand Bacca Bucci, today announced that they have witnessed up to 5-10x growth in demand after the Shark Tank India episode went live. These developments were shared by the founders on the sidelines of the 23rd Chapter of Simpl’s D2C Unlocked, a flagship community-led founders event held on April 25th.

The event included Jitendra Sharma, founder of HairOriginals, Natwar Agrwawal, Founder of Bacca Bucci and Rimjim Deka, Founder & Chief Executive Officer of Little Box, Nikhil Rajpal of Hero Electronics who spoke to dozens of D2C founders from the state. They spoke about knowledge sharing, brand building, and several other important business aspects to building a successful brand. Thousands of such brands have been working with Simpl to improve their business and the company wants to onboard over 10,000 merchants from New Delhi-NCR in the next 2-3 years.

The event, which was organized by Simpl, was also attended by Manu Sharma, Sauce VC, Arush Chopra, Just Herbs, and many others.

Green and economic: Vitesco Technologies and Sanden cooperate on Thermal Management

Mumbai,27th April 2024: Vitesco Technologies, a leading international supplier of modern drive technologies and electrification solutions, and Sanden International (Europe), a leading global supplier of automotive thermal management technology, have joined forces to develop an Integrated Thermal Management System for Battery Electric Vehicles (BEVs). Within the future-oriented pre-development project, Sanden develops the compact refrigerant unit with the natural refrigerant propane (R290), while Vitesco Technologies develops the heat energy distribution system realized by a coolant distribution unit with water/glycol. The building blocks of the coolant unit are the coolant pumps and Coolant Flow Control Valves (CFCV) plus sensors. Depending on the application, the coolant valve can have between 5 and 13 ports to connect heat sinks and heat sources.

By integrating the entire thermal management functions and features into one indirect system, several advantages such as flexible adaptation, reduced complexity, reduced effort in the vehicle manufacturing process, system cost reduction for the OEM, and conformity to regulations, including the upcoming per- and polyfluoroalkyl substances (PFAS) ban in Europe, can be achieved. Furthermore, the new technology will increase driving range in cold conditions, enable fast charging, and provide thermal comfort inside the cabin.

“The new thermal management system makes BEV heating and cooling more sustainable. It also helps to maximize vehicle range under cold conditions. At the same time, we intend to achieve significant cost benefits to increase the economy of thermal management,” says Dr. Gerd Rösel, Head of Innovations Electrification Solutions at Vitesco Technologies.

For the vehicle manufacturers, the Integrated Thermal Management System will offer simplified assembly because a lot of the current complexity of heating and cooling will be integrated with the preassembled module.

“Holistic thermal management is the more sustainable approach. That is why we prepare green technology for a system solution together with Sanden that will be ready for the natural refrigerant propane,” Rösel adds.

The new Integrated Thermal Management concept is presented to a technical audience for the first time at the 45th International Vienna Motor Symposium.

Rolls-Royce announces Indigo has agreed to order 60 Trent XWB engines

Rolls-Royce (LSE: RR., ADR: RYCEY) today announces IndiGo has agreed to place an order for 60 Trent XWB-84 engines. This is the first ever agreement for Rolls-Royce with this leading Indian airline.

As part of the deal, the health and maintenance of the engines will be covered by Rolls-Royce’s comprehensive TotalCare service.

Flying to more than 110 domestic and international destinations, IndiGo flew 100 million passengers in 2023 and is among the fastest growing airlines in the world. The new order will power the airline’s expansion plans, particularly its growing footprint on international routes.

Ewen McDonald, Chief Customer Officer, Rolls-Royce plc, said:

“This substantial order from IndiGo for our Trent XWB-84 engines is a great win for Rolls-Royce. It re-affirms the position of the Trent XWB as the future-ready, engine of choice among airline operators.

“India is an important market for Rolls-Royce. The future promises to be exciting, with significant infrastructure developments and further growth expected in air travel.

“We are grateful to IndiGo for placing their trust in us and we look forward to partnering with them on this journey. Together we will reach more destinations, serve more customers and capture the opportunities of this exciting market.”

Pieter Elbers, CEO of IndiGo, added:

“We are delighted to partner with Rolls-Royce for their future-ready Trent XWB engines as we expand our widebody aircraft fleet with an agreement to order a new fleet of A350-900 aircraft. We have immense trust in the reliability and efficiency offered by Rolls-Royce’s Trent engines and we believe it will reinforce our vision to connect the length and breadth of India to the world.”

As the world’s most efficient large aero engine in service, the technologically advanced Trent XWB, which is assembled in Derby, UK, is also well-positioned to help fast track IndiGo’s sustainability journey. With a 15% fuel consumption advantage over the first generation of Trent engines, the Trent XWB goes further on less fuel and offers leading performance and noise levels. It is also certified to operate on a 50% Sustainable Aviation Fuel (SAF) blend today and has been proven to be compatible with 100% SAF for the future.

TotalCare is designed to provide operational certainty for customers by transferring time on wing and maintenance cost risk back to Rolls-Royce. This industry-leading premium service offering is supported by data delivered through the Rolls-Royce advanced engine health monitoring system, which helps provide customers with increased operational availability, reliability and efficiency.

Hills on a Plate: Meghalaya Chef Wars Premieres on JioCinema

Mumbai , April 26th, 2024: Get ready to witness culinary magic as Hills on a Plate: Meghalaya Chef Wars makes its debut on JioCinema. Talented chefs from Meghalaya are going head-to-head, competing for the most exciting top prize promising a surprise that will leave you speechless. This new series takes viewers on an immersive journey through the heart of Meghalaya, where top chefs battle for supremacy while highlighting the vibrant flavours and rich traditions of this unique region.

The series kicked off with the first episode “MEET THE 7,” where seven skilled chefs from various backgrounds set the stage for intense competition and camaraderie. In Episode 2, “Waterfall Trails and Turmeric Tales,” the action moves to the scenic Jaintia Hills, where the chefs dive into the cultural and culinary heritage of the region. Moreover, episode three, “Fishing for Flavors in Garo Hills,” takes viewers to the lush landscapes of the Garo Hills, where the contestants embrace the essence of local cuisine. The rest of the episodes is set to be released on April 27th.

The seven-episode series features Sarah Todd of MasterChef Australia, Ardahun Passah, and William Diengdoh as the judges, with Gordon Thabah and Abigail Pamei as hosts. The contestants include Artet Kharsati, Ivan Suting, Adonijah Lyngdoh, Daei Suchiang, Tanisha Phanbuh and Nambie Marak.

At the heart of the series lies the search for Meghalaya’s greatest chefs, who will showcase their culinary prowess amidst breathtaking landscapes and vibrant markets. As contestants compete to create dishes that capture the essence of Meghalaya’s cuisine, viewers will be treated to mouthwatering creations inspired by local ingredients and age-old recipes.

The series combines breathtaking scenery with culinary artistry, inviting viewers to explore the enchanting hills and experience the vibrant food scene of Northeast India. Combining the excitement of a chef competition with the immersive exploration of Meghalaya’s cultural tapestry, “Hills on a Plate” promises a unique blend of flavours, sights, and experiences. From bustling markets brimming with fresh produce to remote villages steeped in tradition, each episode offers a glimpse into the diverse and untamed beauty of this northeastern gem.

“Hills on a Plate” is more than just a culinary competition—it’s a celebration of Meghalaya’s rich heritage and the people who call it home. Through encounters with locals, visits to cultural landmarks, and immersive experiences in traditional cooking methods, viewers will gain a deeper understanding of the soul of Meghalaya. Stay tuned for more culinary adventures in the upcoming episodes of Hills on a Plate.

5 Companies Where HR Practices Make Them the Best Places to Work

In today’s competitive job market, attracting and retaining top talent requires more than just offering competitive salaries. Companies that prioritize their employees’ well-being and growth through effective HR practices often emerge as the best places to work. Here are five companies leading the pack with their exemplary HR initiatives:

Vijay Sales: Creating a Culture of Growth and Support

Vijay Sales is an Indian electronics retail chain with a rich history dating back to its humble beginnings in 1967. With over 125 stores operating, Vijay Sales is renowned for its commitment to employee development and support. The company’s HR practices focus on fostering a culture of growth, where employees are encouraged to learn and excel in their roles. Vijay Sales offers comprehensive training programs, mentorship opportunities, and career advancement paths, ensuring that employees feel valued and empowered to reach their full potential.

Moreover, Vijay Sales prioritizes work-life balance by offering flexible work arrangements and wellness programs. This holistic approach to employee well-being contributes to a positive work environment and high employee satisfaction levels, making Vijay Sales a top choice for job seekers.

Noventiq: Embracing Diversity and Inclusion

Noventiq stands out for its inclusive workplace culture and commitment to diversity. The company’s HR practices are designed to create a sense of belonging for all employees, regardless of their background or identity. Noventiq actively promotes diversity and inclusion through recruitment initiatives, employee resource groups, and diversity training programs.

Furthermore, Noventiq has recently opened a new office in Bengaluru, and with plans to hire about 500 people this fiscal year, Noventiq values work-life balance and offers benefits such as remote work options, flexible scheduling, and wellness programs. By prioritizing diversity, inclusion, and employee well-being, Noventiq has earned a reputation as a progressive and inclusive employer.

Findability Sciences: Empowering Employees Through Skill Development

Findability Sciences, lauded as one of America’s most innovative companies for the second consecutive year, has masterfully crafted its HR practices to attract and retain top talent while prioritizing employee well-being and growth. The company fosters a nurturing environment that supports both physical and mental health through a variety of initiatives. Regular sports events and fitness activities, coupled with comprehensive medical insurance that includes coverage for employees and their families, underscore the company’s commitment to physical health. On the psychological front, Findability Sciences offers transformative experiences such as the Miracle Morning Ritual Workshop by renowned trainer Mr. Sunil Parekh, which extends even to employee families, promoting happiness and success. The firm’s global perspective enriches its workforce with international travel opportunities, career advancement in overseas offices, and collaborations with industry giants like IBM. This exposure ensures a vibrant, growth-oriented work culture. Additionally, Findability Sciences supports work-life balance with flexible working hours and generous paid leave policies, ensuring employees have ample time for personal matters. This holistic approach not only enhances job satisfaction and loyalty but also positions Findability Sciences as a leader in innovative and supportive workplace practices.

Lotus Electronics: Valuing Employee Contributions and Recognition

Lotus Electronics is the largest electronics retail store chain in Central India, with a wide presence across various cities. The company values employee contributions and provides recognition for their achievements. Lotus Electronics fosters a culture of appreciation and acknowledgment, offering a range of employee recognition programs, rewards, and incentives.

Furthermore, Lotus Electronics promotes a collaborative work environment where employees are encouraged to share ideas and support one another. With its commitment to employee satisfaction and engagement, Lotus Electronics has established itself as a desirable workplace for individuals seeking opportunities in the retail industry.

Racold: Creating a Culture of Excellence and Wellness

Racold, a leading manufacturer of water heaters and heating solutions, is committed to creating a culture of excellence and wellness in the workplace. The company offers a range of employee benefits and wellness programs to promote work-life balance and mental health. By prioritizing employee well-being and fostering a supportive work environment, Racold has earned a reputation as an employer of choice in the manufacturing sector.

In conclusion, these five companies stand out as leaders in creating the best places to work through their exemplary HR practices. By prioritizing employee development, diversity and inclusion, work-life balance, employee engagement, recognition, and innovation, these companies have built strong employer brands and attracted top talent, making them the preferred choice for job seekers.