Jiwanram Sheoduttrai Industries Ltd.’s Rs 17.07 crore SME IPO opens for subscription on September 8, 2023

Kolkata, September 5, 2023… SME IPO of Jiwanram Sheoduttrai Industries Ltd. (JSIL) engaged in the business of manufacturing of Industrial garments and Safety Gloves and a significant player in the global and domestic personal protective equipment (PPE) market, is scheduled to open for subscription on Friday, September 8, 2023. Company is planning to raise Rs. 17.07 crore to meet the working capital requirements, repayment of certain unsecured loans availed by the company, general corporate purpose and to meet the offer expenses as per the Prospectus.

Last date for subscribing for the public issue is on Tuesday September 12, 2023. Jiwanram’s issue is being managed by Affinity Global Capital Market Private Limited (AGCMPL), a Category I Merchant Banker registered with SEBI. Company’s shares will be listed on the NSE EMERGE Platform. Registrar to the offer is Cameo Corporate Services Limited and Giriraj Stock Broking Pvt. Ltd. is the market maker to the Issue. Mrs. Anupama Prakash is the Chief Financial Officer.

The initial public offering will comprise a fresh issue of 74,22,000 and no offer for sale (OFS) at a fixed price of Rs. 23/- per equity share aggregating upto Rs 17.07 crore. The face value of the equity shares is Rs 10 each and the issue price is 2.30 times of the face value of the equity share. The application must be for a minimum of 6,000 equity shares and in multiples of 6,000 equity shares thereafter which translates into Rs 1.38 lakh per application.

Sharing more details, Alok Prakash, Promoter and Managing Director, Jiwanram Sheoduttrai Industries Ltd. said, “We are committed to bring excellence to the global and domestic industrial safety and personal protection equipment market through high quality products, innovation and cutting edge technology. We are not only strengthening our existing customer base but also sampling products for new customer segments. We are planning to venture into casual work wear which is a natural extension to our current product portfolio. Last couple of years, we have been focused on acquiring new customers and solidifying our domestic presence. We are hopeful that after the proposed public issue, we will be able to execute our growth strategy in a manner that creates exponential value for all our stakeholders while consistently delivering high quality products.”

Out of the issue proceeds, company will utilize Rs 2 crore for repayment/prepayment of certain borrowings, Rs 9.1 crore for working capital, and Rs 3.2 cr. for general corporate purposes. Post Issue the share capital of the company will increase to Rs 24.74 crores from Rs 17.32 crore before the public issue. Promoters and Promoters Group holds a 99.996 percent stake in the company. Post-IPO promoter group holding will be 70.01 percent.

The initial public offering of upto 74,22,000 equity shares of face value of Rs. 10 each (“EQUITY SHARES”) of the company for cash at a price of Rs. 23 per equity share (including a share premium of Rs. 13 per equity share) (“OFFER PRICE”) aggregating upto Rs. 1,707.06 lakhs (THE “OFFER”) comprising totally as fresh issue aggregating up to Rs. 1,707.06 lakhs by the company (THE “FRESH ISSUE”) of which up to 3,72,000 equity shares of Rs 10 each will be reserved for subscription by market maker to the issue (THE “MARKET MAKER RESERVATION PORTION). The issue less market maker reservation portion i.e. issue of upto 70,50,000 equity shares of Rs. 10/- each is hereinafter referred to as the “NET ISSUE”. THE OFFER AND THE NET OFFER will constitute 29.99 % and 28.48% of the post-issue PAID-UP EQUITY SHARE CAPITAL of the company.

The promoters of the company are Mr. Alok Prakash – MD, Mrs. Anupama Prakash – CFO, Mr. Gyan Prakash and Alok Prakash (HUF). Growing at 20%, the company’s current turnover is INR 42 crore with a PAT of INR 4 crore and 9.5% PAT Margin. For FY21-22 company reported revenues of Rs 34.2 crore and Net Profit of Rs 1.5 crore.

Jiwanram Sheoduttrai Industries Limited began producing PPEs when it first began business in 1997. The company built a cutting-edge production plant and began exporting to the United States, Spain, Germany, and Belgium. JSIL has distinguished itself in the market as it has grown, notably in Europe, America, and the Middle East, with its high-quality products. JSIL has more than 20 years of experience in the industrial safety sector. Its geographic reach extends to more than 20 nations.The company first produced industrial safety gloves before progressively expanding its offering in the industrial garment industry. The company has expanded into one of the top exporters and technology-driven safety solutions providers in India, 10 other countries, and 6 other states, with 3 manufacturing facilities.

The personal protective equipment market (PPE Market) was valued at USD 68.5 billion in 2022 and is projected to shrink by 1.3% between 2022 and 2027 to reach USD 64.2 billion. The manufacturing and construction sectors’ rising need for personal protection equipment is one of the key drivers fuelling market expansion.

The company has registered with the Government e-Marketplace (GeM) under the Quality Council of India as an Original Equipment Manufacturer (OEM). The purpose of this action was to strengthen the company’s position in the domestic market. For some of the brand owners in the work and casual clothing market, JSIL has been giving employment opportunities.

23 percent plan to shop using E-commerce platforms – Axis My India September CSI Survey

Bangalore, 6th September 2023: Axis My India, a leading consumer data intelligence company, unveils the latest insights from the India Consumer Sentiment Index (CSI), revealing noteworthy trends in consumer behavior. The report showcases a diverse range of data, such as the 3% decrease in overall household spending for this month compared to the previous month. Notably, 23% of respondents are anticipating increased shopping activities during the upcoming festive season, reflecting a positive sentiment towards holiday spending. Additionally, 44% of those intending to maintain their pattern of participation in e-commerce festive sales this year plan to spend more than last year. These numeric insights provide a quantitative backdrop to the evolving consumer landscape, guiding market strategies for the festive period.

The September net CSI score, calculated by percentage increase minus percentage decrease in sentiment, is at +8, which is same as last month (+8). However, the score reflects a dip of -2 from last year September 2022 (+10)

The sentiment analysis delves into five relevant sub-indices – Overall household spending, spending on essential and non-essential items, spending on healthcare, media consumption habits, entertainment & tourism trends.

The survey used Computer-Aided Telephonic Interviews and included 5048 participants from 35 states and UTs. Among them, 68% were from rural areas and 32% from urban areas. In terms of regions, 22% were from the North, 24% from the East, 28% from the West, and 26% from the South of India. Among the participants, 62% were male and 38% were female. Looking at the largest groups, 29% were aged between 36 and 50 years old, while 27% were aged between 26 and 35 years old

Commenting on the CSI report, Pradeep Gupta, Chairman & MD, Axis My India, said” “As we approach the festive season, our insights paint an encouraging picture for the retail landscape. A significant number of respondents are ready to elevate their shopping experiences, while others are poised to maintain their spending levels. E-commerce continues to play a pivotal role, with an increasing interest in festive online sales. This evolving trend suggests a promising market dynamic. As consumer preferences shape the retail arena, we anticipate a vibrant festive shopping spree ahead, reflecting a positive and forward-looking trend.”

Key findings

· Overall household spending has increased for 55% of the families, which is a decrease by 3% from last month. Consumption remains the same for 35% of families. The net score, which was +46 last month is +45 this month.

· Spends on essentials like personal care & household items have increased for 41% of families, which marks a decrease by 3% from last month. Consumption remains the same for 40% of families. The net score, which was at +23 last month has dipped to +22 this month.

· Spends on non-essential & discretionary products like AC, Car, and Refrigerators have increased for 6% of families, which is the same as last month. Consumption remains the same for 87% of families. The net score, which was 0 last month is at -1 this month.

· Expenses towards health-related items such as vitamins, tests, healthy food has surged for 34% of the families. This reflects an increase in consumption by 1% from last month. Consumption remains the same for 47% of families. The health score which has a negative connotation i.e., the lesser the spends on health items the better the sentiments, has a net score value of -15 this month.

· Consumption of media (TV, Internet, Radio, etc.) has increased for 19% of families, depicting a decrease in media consumption percentage by 1% from last month. The net score, which was -7 last month is at -4 this month. Media consumption remains the same for 58% of families.

· Mobility has increased for 9% of the families, which is an increase by 2% from last month. The net score, which was -2 last month has improved to -1 this month. Mobility remains the same for 81% of the families.

On topics of current national interest

· The survey delved into consumers’ intentions regarding their shopping preferences for the upcoming festive season. Notably, 23% of respondents plan to shop more during the festive period as compared to last year. Additionally, 28% of participants revealed their intention to maintain their spending habits at the same level as before, hinting at a stable consumer sentiment. These responses highlight the potential shifts in consumer behavior and their possible impact on the market.

· The survey explored respondents’ prior and potential involvement in festive sales organized by e-commerce giants like Amazon and Flipkart. Significantly, a notable 23% of participants confirmed their past participation in such events and expressed their intent to maintain this pattern this year as well. Additionally, 11% of those who had not engaged in festive online sales before expressed their interest in participating this year. Conversely, 7% acknowledged their previous engagement but revealed their decision not to partake this year.

· Of 23% of those who intent to maintain the pattern this year, 44% said they will be shopping more through e-commerce mediums as compared to last year. These insights provide a comprehensive understanding of consumers’ past and evolving attitudes towards e-commerce festive sales, shaping strategies for these platforms.

· The survey explored participants’ inclinations towards investment in the Indian stock market or other financial assets in the upcoming months. Notably, a mere 6% expressed an intention to invest more, while 10% indicated plans to invest less. Meanwhile, 5% are projected to maintain their investment levels. These insights provide a snapshot of the current sentiment towards financial market investments, emphasizing the diverse attitudes among the surveyed individuals. Notably, a significant 79% still don’t invest in stocks.

· The survey inquired about participants’ perceptions regarding the potential movement of the stock exchange (SENSEX) beyond the threshold of 70,000 before the festive period of Dussherra/Diwali this year. Encouragingly, 46% of respondents who invested expressed optimism that such a milestone could be achieved. Furthermore, 8% were uncertain about the market’s trajectory. These findings underscore the diverse range of opinions prevalent among respondents, reflecting the complex and multifaceted nature of stock market predictions.

· The survey delved into participants’ perspectives on the government’s economic policies and their perceived influence on the nation’s growth. Impressively, 64% of respondents expressed a confidence in the effectiveness of policies such as Pradhan Mantri Jan Dhan Yojana and Pradhan Mantri Mudra Yojana.

· The survey inquired about respondents’ awareness of the forthcoming 2023 ODI World Cup being hosted in India. Encouragingly, 70% of participants confirmed their awareness of this prestigious sporting event taking place in the country. It highlights the fact that a substantial majority of respondents are cognizant of the global cricket event’s occurrence on Indian soil, reinforcing the event’s prominence and reach among the surveyed audience.

· The survey sought to ascertain respondents’ preferences regarding their anticipated viewing platforms for the upcoming 2023 ODI World Cup set to unfold in India. The findings reflect a diverse array of choices. Notably, 47% of respondents expressed their intention to tune in via traditional television, utilizing DTH or cable services. Demonstrating the increasing influence of digital trends, 27% indicated their inclination to follow the event on their mobile devices. A notable 9% exhibited enthusiasm to experience the tournament live by planning to attend matches at the stadium. These preferences underscore the multi-faceted avenues through which individuals are gearing up to engage with the international cricket spectacle, embracing both traditional and contemporary viewing modes.

Finezza Joins Hands with EPL as one of the Merchandise Partners for its Third Season

New Delhi, 6th September 2023 – Finezza, a leading name in Metal Fabrication, is excited to announce as one of the Merchandise sponsors for the highly anticipated third season of the Entrepreneurs Premier League (EPL). EPL, organized by Delhi NCR Entrepreneurs, brings together entrepreneurial prowess and sportsmanship in a unique and thrilling manner.

EPL Season 3 is all set to commence on August 27th, 2023, at the Vinay Marg Sports Complex, Chanakyapuri. The season promises an engaging fusion of business acumen and sports fervor, offering entrepreneurs a chance to shine both on and off the field. The grand finale is scheduled for October 8th.

Six teams, comprising a total of 90 entrepreneurs, will vie for supremacy in this season of EPL. The participating teams – Toreto Bang, Mavericks, UAPL XI, Modi Infosol XI, XSYS DKDC Stars, and KVE SuperGiants – are primed to deliver an exhilarating display of teamwork and innovation.

“At Finezza, we believe in pushing boundaries and delivering excellence. Partnering with the Entrepreneurs Premier League aligns perfectly with our values, as we witness entrepreneurs pushing their boundaries beyond the corporate realm,” said, Mr. Vasudev Gupta, Director at Finezza. “Sports have an incredible power to instill discipline, teamwork, and a winning mindset. We firmly believe that leagues like EPL contribute significantly to the entrepreneurial ecosystem by fostering qualities that are vital for success – determination, strategic thinking, and collaboration,”

As the league brings together entrepreneurial brilliance and sportsmanship, Finezza is excited to contribute to an event that celebrates innovation, dedication, and teamwork. The sponsorship reaffirms Finezza’s commitment to supporting initiatives that foster growth and innovation within the entrepreneurial community.

Finezza is a leading Metal Fabrication company with a passion for delivering high-quality Products to clients across various industries. The company is committed to providing clients with exceptional craftsmanship, using state-of-the-art technology and equipment to ensure that every project is completed to the highest standards. Finezza works in Architectural Metal Fabrication products like Luxury Gates & Railings in Mild Steel, Stainless Steel, Aluminium, Brass Cast Iron, etc with 510 satisfied clients and 1008 metalworks Finezza provides services in steel welding, metal works, pipe welding, manufacturing, fabrication, and Aluminium systems.

Embark on a Melodic Journey with Portronics DASH 2: Wireless Karaoke Mic with Built-in Speakers

New Delhi, September 6, 2023: Brace yourselves for a sonic revolution that’s set to redefine your karaoke experience! Portronics, a leading player in the portable electronics and consumer electronics market, proudly unveils its latest innovation – DASH 2 Wireless Karaoke Mic with Built-in Speakers. The newest addition to its line-up of innovative gadgets – DASH 2 is a state-of-the-art wireless karaoke microphone that seamlessly integrates powerful speakers, enabling users to experience the joy of karaoke anytime, anywhere.

Talking on the launch Jasmeet Singh, Founder & Director, Portronics, said “We are thrilled to introduce Portronics DASH 2 – a symphony of innovation that brings together the joy of karaoke and the power of wireless technology. With DASH 2, we aim to create a seamless experience where everyone can embrace their inner performer and share their passion for music with the world. Whether it’s a party, a gathering, or a personal serenade, DASH 2 is designed to elevate your vocal journey and amplify the magic of music. So get ready to harmonize, mesmerize, and amplify your vocal prowess with this cutting-edge masterpiece.”

Crystal-Clear Audio Quality

Dash 2 comes with advanced audio technology that ensures crystal-clear sound projection, enhancing the singing experience for the performer and the audience. The microphone’s superior noise-cancellation technology ensures that your voice takes centre stage while the built-in speakers churn out pristine sound worthy of the grandest stages.

Compact and Stylish Design

DASH 2 boasts a sleek and modern design that’s as stylish as it is functional. 5-in-1 Portable Wireless Karaoke Microphone: Dash 2 is not just a microphone; it’s a complete entertainment system. It functions as a Bluetooth speaker, loudspeaker, recorder, voice changer, and even a nightlight. In addition, the device comes with multiple sound modes such as speech mode, karaoke mode, professional mode, and original mode for various occasions like car karaoke, classroom, speech, and home parties.

Karaoke, Anytime, Anywhere

This innovative device redefines the way people enjoy karaoke, offering an all-in-one solution that combines a high-quality microphone with built-in speakers. Dash 2 transforms any gathering, party, or casual get-together into a lively karaoke session, creating unforgettable memories and entertainment for everyone involved. And to double the fun the mic comes with multiple RGB Lighting modes such as flow, breathing, nightlight, and rhythm that will not only add a splash of colour to your boring parties but also create a perfect ambiance for your performance.

Cut the Cords, Boost the Voice

Connectivity is the key in today’s fast-paced world, and the Portronics DASH 2 has it covered. With compatibility across a wide range of devices and platforms, you can enjoy a seamless and integrated smart living experience with multiple connectivity Options such as Bluetooth 5.3, FM transmitter, AUX cable, and wired headphone input for music recording with various singing applications. And to double the fun Dash 2 comes with Duet Mode (TWS), which allows you to pair two mics so that you can team up with a friend and enjoy an unforgettable duet experience.

Where Music Meets Freedom

Designed with convenience, DASH 2 eliminates the hassle of wires and complex setups. The wireless connectivity allows users to connect their smartphones, tablets, or other compatible devices effortlessly. It allows users to access their favourite karaoke tracks from streaming platforms and sing with precision. With Up to 10 hours of playback, the wireless microphone ensures that the karaoke party never stops. Sing your heart out without worrying about running out of power, as the device comes with a USB C fast charging that allows you to fully recharge the mic in just 3 hours.

Orchha Literature Fest 2023: Where Culture, Art, and Literature Unite on the Banks of Betwa

Bhopal, 06 September 2023:The inaugural Literature Festival 2023, catering to literature enthusiasts, is set to take place in the historical and religious heart of Madhya Pradesh, namely Orchha, situated in the city of Shriraja Ram. This event, organized in partnership with the National Book Trust and MP Tourism, is slated to be held at the RudraniBundeli Kala Gram and Research Institute, spanning from September 21st to September 25th. The festival will include renowned literary personalities and engage in discussions and panel sessions encompassing cinema, biographies, narratives, technology-driven literature, and pertinent social issues. Raja Bundela, the event’s organizer, who is both an actor and a politician, has emphasized that Orchha Literature Fest 2023 will distinguish itself from conventional literary gatherings. Online registrations will be available until September 15th, while in-person registrations can be completed on September 20th and 21st at the Rudrani Kala Gram.

In his remarks about the event, Raja Bundela, the founder of OLF, expressed, “The Orchha Literature Fest 2023 serves as a distinctive platform to highlight the significant facets of our literature, art, and culture. Orchha holds a deep historical significance, and this literary festival offers a unique opportunity for interaction and knowledge-sharing within our literary and artistic community. Through OLF 2023, our objective is to establish a platform that unites our literary and artistic community, enabling us all to come together and appreciate literature in its diverse forms, including poetry, narratives, drama, and more. I am thrilled that, with the support of the government, administration, and the general public, we are showcasing the beauty of Bundelkhand to the world while promoting our literary heritage.

In addition, Orchha Film Festival 2023 will include panel discussions and debates covering a range of subjects, featuring authors and prominent figures from the film industry. These sessions will delve into the prospects of original writing and creativity in the future, along with providing insights into the fundamental skills of storytelling and screenplay writing.

Notable personalities invited to this first literary festival in Orchha include Chief Ministers Shivraj Singh Chouhan of Madhya Pradesh, Yogi Adityanath of Uttar Pradesh, Pushkar Singh Dhami of Uttarakhand, and others. The organizing committee includes renowned film actress Sushmita Mukherjee, author and director Ram Bundela, poet and story writer Dr. Nidhi Agrawal, and actor-writer ArifShahdoli, among other well-known figures. The event venue, RudraniBundeli Kala Gram and Research Institute, was established in 2019 with the aim of promoting literature and art in the region.

The main emphasis of Orchha Literature Festival 2023 lies in enriching the vibrant heritage of Bundelkhand, presenting a valuable learning opportunity for those who are keen to explore it.

Elevate your skin game with Blossom Kochhar Aroma Magic’s Serum

Kolkata, 6th September 2023 : Blossom Kochhar Aroma Magic, a trailblazer in the skincare industry with a rich legacy of over 35 years, is proud to announce the highly-anticipated launch of four extraordinary skin serums. Guided by the unwavering vision of its founder and chairperson, Dr. Blossom Kochhar, these revolutionary serums are poised to reset the standards of skincare and lead clients to a future of radiant and rejuvenated skin. Embodying the brand’s commitment to nature-derived, cruelty-free formulations, these serums are carefully crafted with aromatherapy-based ingredients and are completely free from nasties like parabens and artificial fragrances.

“I have been using serums in our professional range all along and I was impressed with the results offered by them. With regular use of the serums you can attain highly improved skin. They really help to “Reset your Skin” and give you Good Skin Days ahead”, says Dr. Kochhar.

Vitamin C Face Serum

Blossom Kochhar Aroma Magic Vitamin C Face Serum is an amazing skincare product that combines the benefits of natural extracts, essential oils, and vitaminC. Antioxidant and anti-aging serum that cures hyperpigmentation, minimizes fine wrinkles, and restores sun damage.

Squalane Serum

An extraordinary aromatherapy-based skincare solution crafted with the finest ingredients. It is designed to provide your skin with exceptional benefits, starting with its ability to lock in moisture and create a barrier against dehydration. Experience the transformative power of this serum and indulge in the luxury of naturally beautiful skin.

Hyaluronic Serum

Hyaluronic Serum is a revolutionary skincare solution enriched with the powerful ingredient, hyaluronic acid. This serum is designed to deliver exceptional results, starting with its ability to boost moisture levels, providing deep hydration to the skin. As a result, fine lines and wrinkles are visibly reduced, revealing a smoother and more youthful skin.

Niacinamide Face Serum

Blossom Kochhar Aroma Magic Niacinamide Face Serum is a wonderful addition to your skincare routine. Natural extracts and essential oils that help to nourish and renew the skin are added in serum. The serum has 10% niacinamide concentration and 1% zinc concentration do wonders for decreasing inflammation and regulating sebum production.

Union Bank of India and IREDA enters into an MoU to Boost Renewable Energy Projects

Hyderabad/ Mumbai, September 6, 2023 – Union Bank of India (UBI) and Indian Renewable Energy Development Agency Limited (IREDA) are pleased to announce the signing of a Memorandum of Understanding (MoU) to foster collaboration and cooperation in various areas of renewable energy and financial assistance. This MOU represents a significant step forward in advancing the goals of sustainable development and renewable energy adoption in India.

The MOU was signed in Mumbai today, in the presence of Ms A Manimekhalai, MD&CEO, Union Bank of India & Shri Pradip Kumar Das, CMD, IREDA. Also present on the occasion were Shri Nidhu Saxena & Shri Ramasubramanian S, Executive Directors, Union Bank of India, other Senior Executives of the Bank and Shri Bharat Singh Rajput, GM, IREDA. The MOU comes into effect immediately upon signing and is initially valid for a period of five (5) years. It may be extended further upon mutual consent of the Parties involved, highlighting their long-term commitment to fostering the growth of renewable energy projects in India.

Under the terms of the MOU, both Union Bank of India and IREDA have pledged to collaborate on various fronts, including co-originating renewable energy projects, loan syndication and underwriting, management of Third-Party Resources (TRA) for IREDA borrowers, and the potential investment in IREDA Bonds.

Specifically, the collaboration encompasses the co-origination of projects in the realm of renewable energy, encompassing Small Hydro projects and Ethanol Projects. Additionally, Union Bank of India and IREDA will work together to facilitate the syndication and underwriting of loans for renewable energy projects, promoting easier access to financial resources for the development of such projects.

Union Bank of India will also play a crucial role in managing Third-Party Resources (TRA) for borrowers associated with IREDA, further enhancing the efficiency and effectiveness of project management.