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Wardwizard Foods and Beverages Limited Unveils QuikShef Spice Range

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Wardwizard Foods and Beverages Limited, a prominent player in the food and beverage industry, announced the launch of its QuikShef Spice Range, coinciding with the Navratri festival. This marks a significant expansion of the companys product portfolio and signifies a new chapter in their culinary journey.

Mrs. Sheetal Bhalerao and Mr. Yatin Gupte Unveil QuikShef Spice Range – A Culinary Delight

The unveiling of the QuikShef Spice Range was a momentous occasion, graced by the presence of Param Pujniya Shri Dhirendra Shastriji, Bageshwar Dham Sarkar. His presence added a sacred dimension to this culinary extravaganza, enriching the spiritual essence of the event.

Mrs. Sheetal Bhalerao, Chairperson and Managing Director of Wardwizard Foods and Beverages Limited, explained the strategic vision behind this move. She said, “Our foray into the spices segment represents our commitment to innovation and fulfilling the evolving tastes of our consumers. We comprehend the growing demand for high-quality spices and are determined to offer nothing less than the best. With the QuikShef Spice Range, we aim to bring the rich and authentic flavors of Indian spices to the world, enabling culinary enthusiasts to infuse their dishes with the essence of India. This initiative is just the beginning of our forward-looking approach, and we are excited to bring new and exciting flavors and experiences to our customers.

Mrs. Bhalerao expressed her gratitude for the presence of Param Pujniya Shri Dhirendra Shastriji, Bageshwar Dham Sarkar, who added a spiritual and blessed dimension to their culinary journey.

Wardwizard Foods and Beverages Limited Unveils QuikShef Spice Range

QuikShef Spice Range: Elevating Culinary Experiences

In response to the increasing demand for high-quality spices, Wardwizard Foods and Beverages launched its QuikShef Spice Range during this Navratri festival. The QuikShef Spice Range boasts a tantalizing selection of 17 distinct varieties, meticulously crafted to elevate dishes to new heights of flavor and aroma. From the aromatic Shahi Biryani Masala to the versatile Garam Masala, and the mouthwatering Panipuri Masala, these spices cater to the preferences of discerning customers. With packaging options in four convenient sizes, Wardwizard ensures that every consumer, from novice cooks to expert chefs, can find the perfect fit for their culinary creations.

Below is a list showcasing the all new QuikShef Spice Range along with their available grammage:

Product Name

Grammage

Shahi Biryani Masala

50g, 100g

Sambar Masala

50g, 100g

Pav Bhaji Masala

50g, 100g

Kanda Lasun Masala

50g, 100g

Kitchen King Masala

50g, 100g

Garam Masala

50g, 100g

Chat Masala

50g, 100g

Shahi Paneer Masala

50g, 100g

Tandoori Masala

50g, 100g

Sabji Masala

50g, 100g

Panipuri Masala

50g, 100g

Chole Masala

50g, 100g

Kashmiri Mirchi Powder

50g, 100g, 500g, 1Kg

Dhaniya Powder

500g, 1Kg

Haldi Powder

500g, 1Kg

Meat Masala

50g, 100g

Chicken Masala

50g, 100g

The QuikShef Spice Range is poised to make waves in the respective segment, further establishing Wardwizard Foods and Beverages as a leader in culinary innovation. This exciting introduction aligns with the companys mission to satisfy not only consumers appetite but also their craving for a unique and authentic culinary experience.

Shapoorji Pallonji Real Estate Hosts One of Pune’s Biggest Channel Partners Meet

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Shapoorji Pallonji Real Estate (SPRE), one of India’s most trusted real estate developers, announced the launch of the first two towers at its luxury project Wildernest at SP Kingstown, an urban development sprawling over 200 acres of expansive land in Pune’s Hadapsar Annexe. The launch event marked a milestone with an impressive gathering of over 1,200 channel partners (CPs), making it one of Punes largest channel partner meets to date. The event was graced by special guests, including renowned stand-up comedian Zakir Khan and celebrated actress Dia Mirza, who added star power to the occasion.

Wildernest Entrance at SP Kingstown

With a view of the Sahyadri mountains, SP Kingstown offers a unique vision of the countryside while living in the city. Strategically located on the Pune-Solapur Highway, the massive land parcel will encompass a blend of residential, commercial, educational, healthcare, and retail spaces. A part of this urban development is a luxury residential project called Wildernest that promises a rare and enchanting lifestyle experience to its residents.

With a development potential of ~22,000 square meters (2.35 Lac square feet) of carpet area, Wildernest offers thoughtfully designed luxurious residences in 3BHK and 4BHK configurations, catering to the diverse preferences of homeowners. With generous sundecks on offer, the 3 and 4 BHKs measure approximately starting carpet area of 129 square metres (1,384 square feet) and 177 square metres (1,909 square feet), respectively.

Wildernest embodies a low-density, nature-immersed philosophy rooted in biophilic design principles. Away from the hustle and bustle of the city, the project offers luxury-crafted homes enveloped by lush mango orchards. The project is a testament to providing a rare experience to its discerning homeowners.

In addition to its harmonious natural setting, the project offers an array of amenities, including a clubhouse, swimming pool, multiple gardens, green spaces, a kids’ play area, outdoor working pods, an outdoor gym, and more.

With its opulent set-up and dynamic performances, the launch event set the tone for what SP Kingstown represents – a perfect blend of luxury, nature, and modernity. Stage performances choreographed to perfection left the audience spellbound, symbolising the projects innovative and forward-looking approach to urban development. During the launch event, celebrated actress Dia Mirza delivered an eloquent address emphasising the profound importance of harmonious living in nature, underscoring the significance of Wildernests biophilic design principles and its unique contribution to urban living. Renowned stand-up comedian Zakir Khan left the audience in splits with his witty and captivating performance, adding a dose of humour to the grand event.

Commenting on the launch, Mr Sumit Sapru, Business Head of Shapoorji Pallonji Real Estate, said,“SP Kingstown is a testament to Shapoorji Pallonji Real Estates commitment to innovation and excellence. We have carefully designed this urban development to cater to the diverse needs of our customers, providing them with a lifestyle that is truly unique. SP Kingstown is not just another development; its a vision brought to life, where nature and urban living coexist harmoniously. We are committed to providing the best of what real estate can offer and setting new benchmarks in the industry.”

Sharing his thoughts, Mr P. Rajendran, Chief Sales and Marketing Officer of Shapoorji Pallonji Real Estate, said, We are thrilled to launch SP Kingstown, which is set to become a landmark in Punes real estate landscape. The overwhelming participation from our channel partners demonstrates their trust and belief in our projects. They were excited to know more about Wildernest and the rare experience of luxury living that the project is going to offer to its home buyers. The presence of Zakir Khan and Dia Mirza at the launch event underscores the significance of this project and our dedication to offering a world-class living experience. We extend our heartfelt thanks to all our channel partners for making this launch a resounding success.”

Wildernest is an exquisite residential project set in the breathtaking surroundings of Pune’s Hadapsar Annex. Situated along the Pune-Solapur Highway, the project boasts excellent connectivity to prominent areas like Hadapsar, Magarpatta IT Park, Amanora Park, IT Park, SP Infocity, and more. Educational institutes, hospitals, malls, and commercial hubs are in close proximity to the project. Additionally, proposed infrastructural projects like a four-tier double-decker flyover, a ring road, and a metro line have spurred demand for residential and commercial properties in the vicinity. The upcoming Chhatrapati Sambhaji Raje International Airport near Saswad is expected to further catalyse growth in the region.

About Shapoorji Pallonji Real Estate (SPRE)

Shapoorji Pallonji Real Estate is a well-regarded, reputed player in the Indian real estate sector owing to its cutting-edge design innovation, construction quality, and architectural excellence. It constitutes a significant segment of the Shapoorji Pallonji Group, an enormous multi-business conglomerate. The group has more than 157 years of legacy that bridges the earliest celebrated structures of India and the modern marvels. With a development potential of over 142 million square feet, SPRE has made inroads into most Indian cities – Mumbai, Pune, Bangalore, Gurugram, and Kolkata – with a variety of developments, from luxury apartments and opulent residences to aspirational homes for mid-income homebuyers as well as one of the largest mass housing projects in India.

For more information please visit website shapoorjirealestate.com.

ART Housing Finance Wins Award for Best Customer Experience at ASSOCHAM 18th Annual Summit & Awards on Banking & Financial Sector Lending Companies

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ART Housing Finance, a leading non-banking financial company (NBFC) having 30 branches across 6 states, has been awarded with the Runner up position in the Best Customer Experience Award under the Class of mid layer NBFCs at the prestigious ASSOCHAM 18th Annual Summit & Awards on Banking & Financial Sector Lending Companies “Bharat @ 100: Financial Transformation in Amrit Kaal” on October 19, 2023, at Mumbai.

ART Housing Finance Wins Award for Best Customer Experience at ASSOCHAM 18th Annual Summit & Awards

The award recognizes ART Housing Finance’s excellence and innovation in delivering customer-centric solutions and services that cater to the diverse needs of its target segment. The company has been instrumental in empowering thousands of customers to realize their dream of owning a home through its easy and hassle-free loan process, flexible repayment options, transparent policies, and personalized assistance.

Mr. Vipin Jain, MD and CEO of ART Housing Finance (India) Ltd. expressed his gratitude to ASSOCHAM for the honour and dedicated the award to his customers and team. He said, “This award is a validation of our vision to create a positive impact in the lives of our customers by providing them with the best possible service and satisfaction. We are humbled by the trust and loyalty of our customers and we are committed to continue serving them with passion and excellence. I would also like to thank our team for their hard work and dedication in making this possible.”

ART Housing Finance is one of the leading housing finance companies in India. The company offers a range of affordable home loan products designed to meet the diverse needs of their customers. ART Housing Finance is committed to using technology to enhance the customer experience and make home ownership more accessible and affordable for all.

For more information about ART Housing Finance and its products and services, please visit ART Housing Finance (arthfc.com), Linked in, Facebook, Instagram.

Macrotech Developers raises Rs 650-Cr to refinance high-cost debt 

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The Macrotech Developers, a major real estate company in Mumbai and also known as the Lodha Group, has secured debt facilities of Rs 650 crore for three years. They obtained this funding from Standard Chartered Bank and Deutsche Bank to replace their high-cost debt.

Standard Chartered Bank contributed Rs 245 crore with an annual interest rate of 9%, while Deutsche Bank chipped in with Rs 405 crore at a 9.5% interest rate, payable quarterly. It’s worth noting that the debt these banks provide comes in the form of non-convertible debentures (NCDs) with varying terms, where Deutsche Bank’s contribution is unsecured, while Standard Chartered’s bonds are secured.

Moreover, the NCDs worth Rs 245 crore issued to Standard Chartered Bank include a condition that imposes a 50 basis points increase in interest for every downgrade in Lodha’s credit rating. One basis point is equivalent to one-hundredth of a percentage point.

Additionally, the interest rate on the Rs 405 crore NCDs subscribed by Deutsche Bank is calculated with a 2.7% spread over the 90-day treasury bills issued by the Reserve Bank of India (RBI). This spread on T-bills will decrease by 25 basis points starting from the December 2023 quarter, as stated in the bond’s offer document shared on the stock exchange.

This decision to refinance their debt is part of Lodha’s efforts to decrease their overall debt, even as they have initiated more than half a dozen new projects in the current fiscal year. 

In fact, during the September quarter, Lodha expanded its portfolio by adding two projects in the Mumbai Metropolitan Region (MMR), collectively valued at Rs 2,300 crore, per the company’s quarterly operational update.

In an email response to ET, Sushil Kumar Modi, CFO of Lodha, said: “Our exit cost of debt as of June 2023 was 9.65%. Given the NCDs were raised between 9% and 9.5%, they would lower the overall interest cost by 5-10 bps.” 

Net Debt Reduction

As of September 2023, Lodha has reduced its net debt significantly, bringing it down to Rs 6,730 crore from Rs 16,100 crore as of March 2021. This impressive reduction has been achieved through increased sales bookings and collections.

Lodha is confidently progressing towards accomplishing its full-year target for reducing net debt to a level lower than 0.5 times its equity or 1 time its operating cash flow. Further debt reduction is anticipated during the second half of the current financial year.

For the fiscal year 2024, the developer has a debt payment obligation of Rs 1,403 crore, and the group is well-prepared to handle these upcoming repayments, as confirmed by a rating report from Crisil dated September 15. It’s worth noting that the group possesses unsold ready-to-move-in inventory worth approximately Rs 6,560 crore across completed, ongoing, and planned projects. As a result, Crisil upgraded its rating by one notch to CRISIL A+.

The rating agency has set its sights on reducing gross debt to Rs 8,000 crore in fiscal 2024, down from the previous year’s figure of Rs 9,050 crore.

Formovie Redefines Luxury Home Entertainment in India with Cutting-Edge Smart Projectors

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Formovie, a global tech giant renowned for its innovative Advanced Laser Phosphor Display (ALPD) laser display technology used in cinema laser projection, has made a significant entry into the Indian market, transforming the landscape of home entertainment. This introduction couldnt have come at a better time, given the growing demand for home entertainment systems in India.

Formovie Product Lineup

Formovie Technology, a company co-founded by Appotronics Corporation and Xiaomi Technology and part of the Mi ecosystem, has set out to redefine the boundaries between entertainment and smart living by introducing a range of large-screen laser projection products. Their mission is to challenge the conventional notion of relying on traditional large smart TVs for home entertainment.

Formovies projector lineup in India boasts a diverse selection, including models such as R1, R1 Nano, V10, X5, and S5. These projectors have gained international recognition through various tech and design awards, underscoring their quality, innovation, and design excellence.

What sets Formovie apart is its commitment to providing consumers with an exceptional home cinema experience. Their projectors offer outstanding image quality, impressive sound performance, and advanced laser technology, all at a competitive and accessible price point. In addition to this, Formovie projectors in India come bundled with an Amazon 4K Firestick, offering convenient access to popular streaming platforms like YouTube, Amazon Prime Video, Hulu, HBO Max, and Disney+.

Mr. Sushil Motwani, the Founder of Aytexcel Pvt Ltd

Aytexcel Pvt. Ltd. stands as the exclusive retailer and distributor of Formovie smart projectors in India. Mr. Sushil Motwani, the Founder of Aytexcel Pvt. Ltd., is excited about this collaboration and aims to challenge the perception that projectors cannot match the reliability of TVs. In a forward-thinking move, Aytexcel Pvt. Ltd. has established a dedicated Formovie Experience Lounge in Mumbais Bandra West. This unique space allows potential customers to witness the remarkable capabilities of Formovie projectors in action.

The companys vision is to make high-quality home cinema experiences accessible to a broader audience by offering a more affordable and space-efficient alternative to traditional large-screen TVs. Home projectors are increasingly becoming the preferred choice for those seeking a cinematic experience within their homes, and Formovies arrival in India promises to make the future of home entertainment brighter than ever. Their technological advancements give them a significant edge in the Indian market, potentially reshaping how people view home entertainment.

Tech Mahindra board approves merger by absorption of 3 subsidiaries

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Tech Mahindra’s board of directors has given the green light for the merger of three of its subsidiaries and their shareholders. This announcement coincided with the release of the company’s September quarter results.

“The Board of Directors of the Company at its Meeting held on October 25, 2023, subject to requisite approved, the Scheme of Merger by Absorption of Perigord Premedia (India) Private Limited and Perigord Data Solutions (India) Private Limited and Tech Mahindra Cerium Private Limited, wholly owned subsidiaries of the Company, with the Company and their respective shareholders (“Scheme”) under section 230 to 232 and other applicable provisions of the Companies Act, 2013,” it said in an exchange filing.

The merger is set to take effect on April 1, 2024, or as directed by the National Company Law Tribunal (NCLT) or another relevant authority. Tech Mahindra will take on the assets and liabilities of these three subsidiaries at their current values. Any inter-company agreements with these subsidiaries will be terminated, and the company’s books will be adjusted accordingly.

Tech Mahindra currently holds all the shares of these three subsidiaries. Once the merger is complete, Tech Mahindra will not issue any new shares in exchange for these holdings, effectively cancelling the equity shares of the subsidiaries.

In its financial report for the second quarter of the fiscal year 2024, Tech Mahindra’s consolidated net profit saw a significant 61.1% year-on-year decrease, dropping to ₹505.3 crore from ₹1,299.2 crore. However, its revenue from operations increased by 3.5% to ₹13,159 crore, up from ₹12,707 crore in the previous year.

On the operational side, the company’s EBITDA for the June quarter fell by 28.8% year-on-year to ₹1,338 crore, compared to ₹1,880 crore in the same quarter the previous year.

Tech Mahindra also declared an interim dividend of ₹12 per equity share with a face value of ₹5 each. 

The company’s stock price on the BSE declined by 1.16% to ₹1,141.70 on Wednesday.

Vyb By Fastrack: The New Party Wear Watch Brand for Young Women

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Fastrack, India’s iconic youth brand recently launched Vyb, a sub-brand exclusively for young women. Chic, stylish, and one of its kind, Vyb is dedicated to fashionistas who enjoy the world of trends and up-to-date designs. With the focus on the current fast-fashion preferences, Vyb by Fastrack will cater to those on the lookout for flaunt worthy pieces that elevate the glam-quotient for all kind of parties. The first collection drop constitutes of 71 breathtaking designs. With differentiated and embellished straps, new plating colours and an array of interesting dial shapes, the brand ensures that theres a watch for every mood and moment. To top it all, these watches are available at an affordable price range of Rs. 1250/- to Rs. 2960/-.

Available at an affordable price range of Rs. 1250/- to Rs. 2960/-

With the launch of Vyb, Fastrack expands its portfolio with new designs that have a touch of bling for the fashion-forward young women, encouraging them to exhibit their free-spirited party vibe with utmost confidence. The brands tagline, “Vyb On“, flawlessly captures this.

Take the stage, steal the show with New Vyb watches

Mr Ajay Maurya, Marketing Head Fastrack adds on the launch of the sub-brand, “We are thrilled to introduce Vyb as the new sub-brand for young women to be adorned during all party occasions. Vyb is all about being glam-ready for multiple occasions and carrying different looks with ease. Vyb watches are unique fashion statements, and we cant wait to see our customer’s Vyb On with Vyb!”

Vyb watches will be available at all Fastrack and Titan world stores and authorised multi-brand outlets nationwide. For online shopping, the Vyb by Fastrack watches will be available on the official Fastrack website and on Flipkart.

About Fastrack

Fastrack, India’s iconic youth brand, exudes a fashion-forward ethos, embodying contemporary style and expression of the youth zeitgeist. Fastracks designs are trendy and eye-catching, catering to the bold and fashion-forward. With a diverse range of accessories, and with a finger on the pulse of the youth fashion space, Fastracks designs resonate with the fashion aspirations and preferences of its young and dynamic consumer base.

Leisure Company ILC (International Leisure Consultants) Inks MoU with Kairali Wellness Center

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MoU signed with intent to revolutionize the wellness and hospitality industry in India and globally and provide elevated guest experiences

ILC to assist Kairali in providing ‘Acres of Happiness’ and ‘Healing Desa’ to its clientele

ILC targeting both national (Hyderabad, Thiruvananthapuram, Goa, Gujrat, Bangalore) and international locations (Europe and Africa)

Leisure consulting company ILC Services has signed a Memorandum of Understanding (MoU) with wellness company Kairali, so as to provide elevated experiences with a blend of hospitality and wellness to its clients. While originally focusing on consumers in the (55-75) age bracket, the partnership aims to appeal to the younger generation between (35-50) years of age, which has shown a growing interest in the importance of maintaining the holistic wellbeing of oneself. As part of the MoU, ILC Services shall be targeting locations in India (in Hyderabad, Thiruvananthapuram, Goa, Gujrat, Bangalore.) and select locations abroad (Europe and Africa).

The joint understanding established intends to develop and execute projects in the Indian subcontinent with a commitment to work exclusively together in the region thereby reinforcing ILC’s long-term vision for a robust and impactful collaboration.

By integrating Kairalis profound Ayurvedic wisdom with ILCs contemporary hospitality and business acumen, the alliance aspires to introduce innovative offerings, the combined effort of which is set to redefine the customer experience in the wellness industry, delivering holistic, authentic, and tailored experiences for all age groups.

Expressing his delight at the successful collaboration, Mr. Navneet Nagpal, Principal Consultant, Spectra Hospitality Services said, “Recognizing the profound shift in global health consciousness, especially during and post-pandemic, we at ILC India are absolutely delighted at the opportunity to redefine hospitality and wellness tourism in India with Kairali. In keeping with the same, we aim to employ cutting-edge technologies and digital platforms to promote Kairali’s innovative offering. By tapping into the latest marketing trends, we intend to enhance brand visibility and engagement; and with our augmented reality and virtual reality facility tours we integrate AI-powered wellness assessments and data analytics for our guests, to customize wellness programs tailored to our customers’ needs. While we strive for innovation, we aim at delivering a blended customer experience of tradition and modernity. We are elated at the opportunity to contribute in redefining India’s hospitality and wellness industry and we look forward to more such opportunities in the near future.”

Recognizing the importance of a wholesome environment, ILC is investing in properties that prioritize space, luxury, and a serene green atmosphere with its strategies focusing on holistic wellness retreats offering not only ayurvedic treatments but also activities promoting mental, emotional, and social well-being of consumers.

ILC Services plans to bring its extensive knowledge from the hospitality industry by providing crucial inputs related to hospitality consulting, which encompasses market research, feasibility studies, concept development, project management, and operational guidance among others, whereas Kairali brings over a centurys expertise in Ayurveda and holistic wellness.

About ILC

Leisure Company ILC Services is a joint venture between Spectra Hospitality Services and ILC Hong Kong (ilc-world.com). A private company owned by its executive directors headquartered in Hong Kong, International Leisure Consultants (ILC) has active projects in Hong Kong, China, Macau, India, Singapore, Indonesia, Vietnam, Cambodia and a growing client list.

ILC has recently completed initial assignments in South Africa and Dubai for developers and project investors and its office expansion has also led to the set-up of a JV firm in India in 2000, Singapore in 2001 and newly associated companies in China and South Africa.

We have established core competencies in the areas of strategic business planning, market research and feasibility studies, technical and pre-opening services, master planning support services and management advisory services, project development and redevelopment, concept development and positioning, marketing and sales and club management.

A full-service leisure company, ILC mainly provides leisure consultancy services that also includes management and marketing services for Clubs, Leisure projects, Resorts and mixed-use Developments. Our team of expertise covers sports clubs, golf clubs, country clubs, marina clubs, fitness and health clubs (in both stand-alone and premium hotels), business clubs, health spas, premium residential clubs, resorts and leisure complexes, retreats, conference and exhibition centers and tourism assignments.

Shiv Narayan Jewellers Marks International Debut with Exclusive London Preview

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The illustrious halls of The Wallace Collection, London were filled with shimmering lights and sparkling conversations, as Shiv Narayan Jewellers marked its international debut with an exclusive London preview. Hosted by philanthropist, business tycoon and global icon, the glamorous Mrs. Sudha Reddy, the evening was an ode to Indias rich heritage and artisanship.

Sudha Reddy and Tushar Agarwal with guests

Guests in attendance, including Mr. Joseph Muscat, Former Prime Minister of Malta, Alexandra Sasha, 1st Deputy Member of Parliament, Princess Katarina of Yugoslavia, President of Mafatal Luxury Sheetal Mafatlal and Freddie Toye Chairman, & Director of Toye & Co. and Royal Warrant Guarantee, among others were treated to a singular experience of Shiv Narayan Jewellers’ iconic high jewellery. Amidst the glittering displays, the star attractions were four record-breaking masterpieces, The Ganesh Pendant, The Ram Darbar, The Magnifying Glass & The Satlada (Seven-Layer) Necklace with which the brand has achieved 8 of their staggering 10 Guinness World Records™ Titles.

Sudha Reddy and Tushar Agarwal

Managing Director – Shiv Narayan Jewellers Pvt. Ltd., Mr. Tushar Agarwal, in a heartfelt address, spoke of the brand’s journey from its roots in India to the global stage. “Shiv Narayan Jewellers is more than just ornaments; its a tale of passion, of history, and of dreams that span generations,” he remarked.

Guests echoed this sentiment, expressing admiration for the intricate designs that seamlessly blend traditional Indian craftsmanship with contemporary aesthetics. The presence of Sudha Reddy further elevated the evening, adding a touch of grace and charm that resonated with the ethos of the brand.

Shiv Narayan Jewellers’ London debut sets the stage for the brands continued global journey, as it seeks to share its unique blend of tradition and innovation with the world.

Founded in Hyderabad, India, Shiv Narayan Jewellers is the Only Indian Jeweller To Have Achieved 10 Guinness World Records™ Titles. They are at the forefront of Indias luxury jewellery sector, celebrating the nations rich heritage and artisanship. Renowned for their intricate designs and exceptional craftsmanship, they have over the years been recipients of numerous accolades and recognitions.

Inc.5 Shoes bags $10mn in Series-A Funding

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Inc.5 Shoes, a footwear brand founded in 1998, has raised $10 million in Series A funding. Carpediem Capital led the funding, with Param Capital and P3 Venture Fund (Sureka Family Office) also participating. 

This marks the company’s first institutional funding.

With this capital infusion, Inc.5 Shoes aims to expand its presence significantly. It plans to strengthen its foothold in urban areas extend its reach to tier-2 and select tier-3 cities.

The company intends to use the funds for store expansion, bolstering its online presence, enhancing its senior leadership team, and improving backend operations, including inventory management technology and expanding its product offerings.

“As we celebrate 25 years at Inc.5, we are particularly excited as this year gives us more than one reason to celebrate. We have recently raised our first institutional round with Carpediem Capital, partnering with us in our growth journey. We are extremely excited to have them as our long-term partners who will add immense long-term value to our growth journey. During our 25th year, we also aim to cross our first 100-store mark, and we know that this fulfilling journey of successes and growth has only begun,” shares Amin Virji, Managing Director, Inc.5 Shoes.

Currently, Inc.5 Shoes, headquartered in Mumbai, boasts over 70 Exclusive Brand Outlets and over 200 shop-in-shops nationwide.

“We would like to congratulate the founders and management team for building a prominent domestic footwear brand. Inc.5 retails quality and affordable footwear for Indian women, an evolving demographic, given their increasing participation in the workforce. We are excited to be a part of the next stage of Inc.5’s growth journey,” said Abhishek Sharman (Founder of Carpediem Capital) and Saranya Agrawal (Param Capital) in a joint statement.

Notably, this funding round is Carpediem Capital’s third investment from CCP Fund II. Dexter Capital Advisors served as the exclusive financial advisor, and ICUL & Antares provided legal counsel to Inc.5 and Carpediem, respectively.