16, Dec 2023
Investcorp inks deal to lead an investment of INR 340 Crores in Canpac Trends
16 December 2023: Investcorp, a leading global alternative investment firm, announced that it has led an investment of INR 340 crore (~$41 million) in Canpac Trends, a leading provider of paper-based packaging solutions. The contemplated transaction will also provide a partial exit to JM Financial India Fund II that has been invested in Canpac since 2021.
Founded by Nilesh Todi, Ahmedabad-based Canpac offers folding carton solutions to customers in diverse end-use industries which include Fashion & Retail, Food and Food Services, FMCG, and Industrial Products. In addition to folding cartons, Canpac also provides paper bags, luxury boxes, corrugated cartons, and flexible laminate solutions. Canpac has 4 modern manufacturing plants across three cities – Ahmedabad, Kolkata and Tiruppur. Canpac’s state-of-the-art R&D facility provides real-time sampling and customized packaging solutions to its customers.
This investment will help Canpac expand its production footprint to all major manufacturing hubs of the country. Additionally, these funds will be utilized to accelerate growth via acquisitions and strengthen its R&D initiatives.
Nilesh Todi, Founder of Canpac Trends, shared, “This investment comes at a vital point in our growth journey as we continue to expand our presence across India. This funding round will enable us to scale up our manufacturing and sales capabilities. We are delighted to partner with Investcorp, a globally recognized investor with a strong track record of adding value to investee companies. We will continue to work towards achieving our vision of becoming India’s go-to packaging solutions provider”.
Gaurav Sharma, Head, India Investment Business, Investcorp, said: “At Investcorp, we are always on the lookout for companies run by ambitious first-generation entrepreneurs that we believe will outperform peers. Nilesh Todi has demonstrated that, with consistent execution over a period of time. Paper packaging also champions sustainability, a key Investcorp priority for each one of our investments across all our geographies”.
Anshuman Goenka, Partner, Investcorp, said, “We are excited to partner with Nilesh Todi in the next phase of Canpac’s growth. While paper packaging market is over INR 570 billion in India, the industry remains highly fragmented with an opportunity for leaders to consolidate. In this industry, Canpac has firmly established itself as a leader which is able to serve customers with superior standards of quality and safety. At Investcorp India we believe in – ‘consolidation of unorganized sectors, and a long-term growth in brand spends’. This investment brings both these together”.
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- By Rabindra
16, Dec 2023
A ‘LEAP’ of a Lifetime with Tata Motors
National, December 16, 2023 – Young men and women from different parts of the country have taken a LEAP of faith with Tata Motors’ initiative ‘LEAP (Learn to Earn and Progress Programme)’ for the past decade. Run under the Public-Private-Partnership Model (Industrial Training Institutes, Tata Motors dealers & TASSs and Tata Motors), the programme aims to provide sustainable livelihoods, especially to unskilled youths from disadvantaged sections of society. Notably, the programme’s success is evident as it has expanded from two institutes in 2013 to an impressive 60 institutes by 2022, and 1500 youth get trained under the programme every year.
A 12-month programme, the LEAP curriculum dedicates 70% of the curriculum to hands-on experience at service centres, creating a comprehensive learning environment. With a focus on inclusivity, LEAP has on its rolls underprivileged youth both from rural as well as urban and semi-urban localities, who have dropped out of school and there is a focussed effort to register more women under the prorgramme.
Tata Motors serves as a knowledge partner and provides the content for the training, while Industrial Training Institutes provide the required infrastructure for conducting the training. Dealer & TASSs help these students with on-the-job training and a stipend for the same. The programme has been clocking 85% placement on an average in the past decade. In addition to this, an increasing number of women are getting enrolled in the programme and diversity has grown to 13% in the past decade.
Vinod Kulkarni, Tata Motors’ Head of Corporate Social Responsibility, said, “LEAP transcends a skills programme and qualifies to be a transformative programme wherein the future of the attendees are moulded into compelling success stories. The programme has a twin purpose of creating a workforce for the future as well as empowering individuals and their families to improve their standards of living and above all, rekindle their dreams. LEAP highlights Tata Motors’ unwavering determination to bring about affirmative changes within communities we work in.”
In its continuous evolution, LEAP remains agile, embracing new technologies and entrepreneurial modules to adapt to dynamic market demands. LEAP embodies a dynamic force driving positive change, exemplifying Tata Motors’ enduring pledge to empower, innovate, and build a brighter tomorrow for all.
16, Dec 2023
HFCL Takes the Lead: Unveiling a New Era in Defence Tech with Cutting-Edge Radars
Bengaluru, 16 December 2023: In a notable development, HFCL Limited (HFCL), a technology enterprise in India and provider of state-of-the-art telecommunication products and solutions, is poised to transform its impact in the defence sector. This transformation involves a strategic focus on radar technologies to fulfil the critical Information, Surveillance, and Reconnaissance (ISR) needs of Defence and Security Forces. The deployment of these cutting-edge radar technologies offers unparalleled advantages and showcases versatile applications across multiple sectors, underscoring HFCL’s unwavering dedication to innovation and excellence in the defence industry.
In its initial offering, HFCL through its 90% owned subsidiary, Raddef Private Limited, an R&D enterprise specialising in cutting-edge radars and RF solutions, has designed a range of Surveillance Radars catered to meet diverse operational needs. These radars employ Frequency Modulated Continuous Wave (FMCW) technology offering numerous advantages over other radar technologies, including high accuracy, low power consumption, and resistance to interference.
Apart from the application of ground surveillance for border and parametric security, FMCW radars offer a wide range of applications, from weather radar to navigation systems. Their unique capability to simultaneously measure distance and velocity positions them as essential technology for various modern applications. With diverse variants catering to specific operational requirements, these surveillance radars are exceptionally versatile, portable, and deployable across challenging and hostile terrains.
HFCL is also actively engaged in the development of a state-of-the-art Drone Detection Radar, poised to be an important component of modern drone detection systems. HFCL’s ongoing cutting-edge research and development initiatives extend to a diverse range of radar technologies. These include Doppler Weather Radars, Threat Emulators, LTE-based Passive Radars, Fog and Foliage Penetration Radars, Coastal Surveillance Radars, Avalanche Detection Radars, Altimeters, and more. These innovative radar systems, spanning various technologies, play a pivotal role in meeting the operational and functional needs of users across diverse sectors and domains.
The worldwide market for surveillance Radars is expected to reach to USD 12 billion per annum by 2030 from the current market size of USD 6.87 billion per annum.
Mr. Mahendra Nahata, Managing Director, HFCL said, “We embark on a transformative journey, driven by a vision to fortify national security and innovation. Our foray into ground surveillance radars, drone detection radars, and a spectrum of advanced radar solutions reflects our commitment to empowering defence and security forces with cutting-edge technology. These radars, with their diverse applications across sectors, symbolize our dedication to safeguarding the present and shaping a secure future for our nation. Our strategic investment of 90% in Raddef Private Limited underscore HFCL’s commitment to fostering Make-in-India technology, solidifying our position as a trusted partner in the defence communication domain.”
India accounts for 3.7% of global military spending, making it the third-highest military spender in the world after the U.S. and China. This makes it to be a huge opportunity for HFCL to contribute and lead with innovation in the Indian Defence tech space. In alignment with the Government’s Make in India Policy, HFCL is proud to contribute in helping the Country modernise its military capabilities, through its indigenous defence tech innovations.
16, Dec 2023
CMR University Collaborates with Bengaluru City Police to Launch ‘Police Marshals’ Program
Bengaluru, December 16, 2023 – CMR University, in collaboration with Bengaluru City Police and the Aarohan Foundation, launched “Police Marshals at CMR University” at the CMR National Public School, Kalyan Nagar, to mark a significant step in the battle against drug abuse, tobacco, and alcohol.
The launch event witnessed the esteemed presence of Dr. H B Raghavendra, Vice Chancellor, CMR University, Bangalore, and Dr. Babu Devasenapati S, Director OSA & Partnerships, CMR University, Mr. Raman Gupta IPS – Additional Commissioner of Police, East, Mr. Devaraja D IPS – Deputy Commissioner of Police, East Division and Ms. Manisha Bhatt – Founder Director – Aarohan Foundation.
The ceremony commenced with Mr. Raman Gupta, IPS, initiating the oath and robing the students. In his address, Mr. Raman highlighted the significance of CMR University being the first institution in the East Division to launch the Police Marshals initiative. Emphasizing the critical role of youth in combating the supply network of drugs, he encouraged students to become warriors against drugs in society.
Dr. H B Raghavendra, Vice Chancellor of CMR University, emphasized the institution’s commitment to holistic education and the development of socially responsible citizens. Dr. Babu Devasenapati S, Director OSA & Partnerships, CMR University, conveyed the university’s dedication to supporting initiatives that align with the welfare of society.
The CMRU Police Marshals initiative aims to foster trust and build rapport with students through engaging programs such as awareness drives, walkathons, marathons, and other community-centric activities. These initiatives, driven by students in collaboration with local police, will champion the cause against drug abuse, tobacco, and alcohol.
16, Dec 2023
Mystique 2023: A Fusion of Talent, Culture, and Management Excellence Rocks H.R. College
Mumbai’s cultural and management heartbeat echoed with vibrancy and talent as H.R. College, Churchgate, played host to the success of its annual intercollegiate festival, Mystique. A festival organised by the students and for the students across Mumbai from diverse academic backgrounds that took place on the 4th, 5th, and 6th of December 2023 converged to celebrate a shared passion for cultural, sports, and management talent.
The 4th year of Mystique was the buzz of the city with its enchanting success. It was 3 days of holistic experience with 2 days of concert nights headlining the event Project 91 by Sunburn on the 4th of December and Yashraj on the 5th of December, performing live at Karnatak Sports Associations (KSA) Grounds, Churchgate.
The team was pleased to have Tanuj Virwani, Divya Agarwal, Vedika Bhandari, Shivshakti Sachdev, Aditya Rawal, Simran Dhanwani, and Murtuza Kutinwala as our panellists to grace their insightful panel discussion on The Crucial Role of Digital Creation in an Actor’s Journey.
The wealth of experience and expertise of the judges played a pivotal role in the events and the team would like to express their heartfelt gratitude to Shantanu Maheswari and the Campus Beats team, Darsheel Safary, Gopi Bhalla, Vishal Shelke, our chief guest Jaan Kumar Sanu, Neha Garg, Namita Dubey and many more.
The festival unfolded as a vibrant extravaganza, featuring a diverse array of events unleashing healthy competitions catering to varied interests, stimulating events like Fasla Janta Ka inspired by the renowned show ‘Aap Ki Adalat’, with Mystique’s legacy event ‘Student of the Year’, cultural performances glorifying the stage with their flamboyant personalities While the Fine Arts transformed into a gallery of creativity with masterpieces from young artists.
A total of 35 colleges took part in Mystique, out of which the top 3 colleges paved their way to victory, the colleges ranked in the competition were Jai Hind College in 1st place, Thakur College 1st runner up and Kishinchand Chellaram College in 2nd runner up.
Beyond competition, the festival was a celebration of unity, offering various brands and businesses a platform to showcase among the young youth. Food stalls offering flavours from every corner of the world, jewellery, and creative stalls and pop-ups to make the night more glamorous.
The legacy of Mystique at H.R. College serves as a reminder of the power of youth to come together and create something extraordinary with the immense support of their faculty members and two major pillars of the festival, esteemed Principal Dr. Pooja Ramchandani and Teacher in Charge, Ms. Charvi Gada. As the echoes of this year’s festival linger in the air, the anticipation for next year’s edition has already begun, promising an even grander celebration of talent.
16, Dec 2023
National Geographic India’s Upcoming Documentary ‘The Butterfly Effect’ Dives into WIPRO’s Efforts Towards Achieving Net Zero
India, 16th December 2023: The urgency of the climate change crisis is undeniable. It is imperative that we safeguard the world we inherited from our forefathers and preserve it for the future generations. Packed with innovative and inspiring storytelling, National Geographic in India is all set to bring forth the remarkable journey of WIPRO, giving its viewers a glimpse into the company’s commitment in trying to achieve net-zero carbon emissions. Premiering on 16th December, at 8 PM on National Geographic Channel, the film titled ‘The Butterfly Effect’ sheds light on the sustainable measures adapted by Wipro to curb the adverse effects of global warming.
In an era marked by industrial progress, where electricity and energy symbolize advancement, the documentary explores the consequences of global warming and climate change. It delves into the consequences of heightened temperatures, unpredictable weather patterns, rising sea levels, and catastrophic heatwaves. While showcasing Wipro’s commitment to attain 100% renewable energy in their campuses by 2030, the short film spotlights the company’s green efforts to address the challenges of today’s climate crisis. The documentary will explore innovative, future-ready solutions such as an underfloor air distribution system for cooling, advancement in designing for efficient energy use, and the recycling of organic waste and water, all aimed at slowing down the climate crisis.
“At National Geographic, we aim to bring forth thought-provoking and insightful stories that enlighten our viewers on the significance of sustainability for a healthy planet. Our constant endeavour is to inspire and encourage our audience to embrace lifestyle changes for a better tomorrow, fostering a collective commitment to safeguarding the planet for future generations. The documentary provides unprecedented access to information, offering viewers a deeper understanding of disruptive measures to achieve sustainability.” said a National Geographic spokesperson.
“The effects of climate change are already evident in our daily lives and increasingly so. Its adverse impacts will unfortunately cascade through to our future generations. As a responsible corporation, we have been working on our climate goals over the last 15 years. We are pleased to collaborate with a credible brand like National Geographic, which has captured the key elements of our sustainability journey in a seamless, well-knit narrative,” said P S Narayan, Global Head, Sustainability & Social Initiatives, Wipro Limited.
Produced by National Geographic Creative Works, ‘The Butterfly Effect’ will premiere on December 16th, 2023, at 8 PM on National Geographic Channel in India.
16, Dec 2023
Nestlé India celebrates five years of Project Hilldaari
Bengaluru, 16 December 2023: Project Hilldaari is a Nestlé India initiative in partnership with PLAN Foundation and Stree Mukti Sangathana and technical partner Recity India Pvt Ltd. Over the last five years, project Hilldaari has successfully developed inclusive and resilient models for waste management in select tourist cities of India. The project is currently operational in Ponda, Mussoorie, Mahabaleshwar, Munnar, Dalhousie, Darjeeling and Palampur
Commenting on the occasion, Mr. Suresh Narayanan, Chairman and Managing Director, Nestlé India said, “Five years ago we embarked upon an important journey with Project Hilldaari by bringing about positive change through collective action and adopting sustainable waste management models. Through a multi-stakeholder approach, we are successfully implementing this project across 7 tourist destinations and the project has grown from strength to strength. I would like to congratulate all our partners, for making our vision a reality.”
Upon reaching the milestone of five years for Project Hilldaari, Ms. Jyoti Mhapsekar, President, Stree Mukti Sanghatana said, “The last five years of Project Hilldaari have been extremely fulfilling for the team, where we conducted some meaningful work such as professionalization of the waste workers community. We take pride in the way we have been able to raise awareness across stakeholders. We would continue to collaborate and positively impact the ecosystem in these cities.”
Meha Lahiri Co-founder, COO, and CFO, of Recity Network India expressed her elation on the milestone and said, “Recity Network India has been working towards giving rise to a circular economy of plastics and Hilldaari has been one of the shining examples of projects aiding this cause. We are extremely happy with the progress we have made with Project Hilldaari and would continue to put continued efforts to take this cause further.”
Project Hilldaari in its existing locations across India has diverted more than 28,000 MT of waste from landfill through source segregation. 80% of source segregation has been achieved across more than 20,000 residential and commercial waste collection points.
Hilldaari believes that every member of the society can contribute towards making a positive change. These partnerships invoke a sense of solidarity and collective spirit among citizens. The initiative is progressively working towards professionalizing waste workers towards segregation of waste at source through a multi-collaborative approach with municipal councils, citizens, contractors, waste workers, and influencers. Through Project Hilldaari over 560 waste workers have trained to become a part of behaviour change interventions. The project has also provided them with occupational ID, benefits such as health insurance, protective gear necessary for their work, and other such benefits.
16, Dec 2023
Bank of India unveils BOI STAR EXPORT CREDIT Product for Exporters
Bangalore, 16 December 2023: Bank of India (BOI) has launched its latest financial offering for exporters, “BOI STAR EXPORT CREDIT” – a key product designed to fuel the growth of export-oriented units in India with specific focus on Agriculture and MSME exporters.
BOI expects the product to find favour among exporters since exports play a major role in the economy’s overall development by creating more job opportunities while introducing technological advancements and global product offerings as well as boosting forex reserves.
Launched by Bank of India’s MD & CEO Shree Rajneesh Karnatak on 12 December, the product has features such as competitive ROI starting from 7.50% p.a., ECGC premium cost being shared by the Bank, pre- and post-shipment limit interchangeability, standby line of credit facility, no capping on the upper limit of financing and other benefits.
The product will be marketed pan-India in a focused manner via BOI’s robust network of 10 Large Corporate branches, 18 Emerging Corporate Credit branches, 125 SME-focused branches, 179 forex Authorised Dealer (AD) branches, and 115 SMECC/UCs. As it has been rolled out for all branches across India, the Bank is expecting a 30% growth in its export credit portfolio through this product.
16, Dec 2023
News18 Lokmat concluded Agenda Maharashtra steering conversations about the state’s future
16th December 2023 – News18 Lokmat successfully concluded ‘Agenda Maharashtra,’ a prominent gathering that united visionaries, influential thinkers, and essential stakeholders for a substantial discourse on the prospective progress of Maharashtra. This event, which took place on December 11th, 2023, in Nagpur, served as a platform for stimulating ideas, encouraging cooperation, and instigating beneficial transformations throughout the state.
Dy. CM Devendra Fadnavis, Assembly Speaker Rahul Narvekar, CM Eknath Shinde, Girish Mahajan (Minister of Rural Development & Panchayat Raj of Maharashtra), Dada Bhuse (Ports and Mining Development), Ravindra Chauhan (Minister of Medical Education, IT, and Food & Civil Supplies), and Sudhir Mungantiwar (Minister of Cultural Affairs and Forest) graced the occasion of ‘Agenda Maharashtra’ hosted by News18 Lokmat. These leaders and decision-makers actively participated in substantive conversations, exchanged perspectives, and suggested remedies for various challenges, contributing to the formulation of a comprehensive developmental agenda for the region.
16, Dec 2023
It was a Celebration of Learning at Manthan’s Annual School Day Event
Hyderabad, December 16, 2023: Manthan International School, part of the International School Partnership (ISP) group, a global family of 77 schools across 21 countries, hosted the Annual Day, Pratibimb for Junior KG to Grade 3 students and Rangmanthan for Grades 4 to 12, today, at Manthan International School, Tellapur. The event was attended by over 5000 people including families of the learners and the entire Manthan team.
The Pratibimb events were created as reflections of learning that happened in class throughout the year. The Rangmanthan events incorporated all club activities that the students are part of and showcased their skills in music, dance, theatre, sports, and the arts.
The shows had attractive formats such as “Tamasha”, which included the depiction of indigenous Indian games while describing the various stages of life. The story of a teenager was showcased using theatre within a theatre with props that were created on the spot through live painting. A musical skit, ‘Entertainment through the Ages,’ looked at how entertaining and being entertained has changed from the time of gramophones to that of mobile gadgets.
Capturing the rich tapestry of the country’s history, the show ‘Golden Ages of India’ took the audience through the magnificent journey of glory and valour through performances in drama, dance, and music. “Confluence” was the Grand Finale event that celebrated a multicultural extravaganza of global sounds and rhythms presented by Music Club students.
Speaking on the occasion, Surjeet Singh, Principal, of Manthan International School said, “I give a huge shout-out to all students and teachers who gave their very best in this four-day-long event, where the school presented eight shows and all 1850 students participated. The talent, enthusiasm, and hard work exhibited by our students were evident in every performance, reflecting the vibrant and dynamic spirit of our school. Their performances not only showcased their unique talents but also highlighted the collective strength of our student body. I also extend heartfelt gratitude to parents for their enthusiastic attendance and support of the school at this annual event.”
