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RBI Maintains Repo Rate, Ensuring Stable EMIs

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As anticipated, Shaktikanta Das, the Governor of the Reserve Bank of India (RBI), announced on Friday that the Monetary Policy Committee (MPC) has unanimously chosen to keep the repo rate steady at 6.50 percent.

RBI Repo Rate October 2023

Presenting the policy, Das stated, “After a thorough evaluation of the evolving macroeconomic and financial circumstances and prospects, the RBIs Monetary Policy Committee has unanimously resolved to maintain the Repo Rate at 6.5 percent.”

The central bank has retained its real GDP growth projection for FY24 at 6.5%, and the CPI inflation forecast for FY24 remains at 5.4%.

The RBIs decision to maintain the Repo Rate has been positively received by the real estate sector, especially those involved in the housing segment. Although the decision was as expected, it comes as a relief to both new and existing housing loan borrowers, as a pause in the repo rate implies no increase in home loan EMIs. Here are the views of prominent figures in the real estate sector on the RBIs announcement:

Deepak Kapoor, Director, Gulshan Group

The current RBI decision to keep interest rates at their current levels is positive for the luxury home market. Luxury real estate generally experiences less of an impact from high-interest rates than cheap housing. However, a further increase would have put the rates alarmingly close to their breaking point. We anticipate it to promote expansion, which will be beneficial for luxury real estate, especially in the upcoming festive season that will witness remarkable customer engagements.

Salil Kumar, Director, CRC Group

RBI’s decision to maintain the repo rates at 6.5% will bring positive developments in the real estate sector. Less volatility in the loan interest rates would increase buyer and developer confidence, fostering long-term growth. The development of both residential and commercial real estate developments is accelerated by lower financing rates, which also boost employment in the construction industry. Interest rate stability will boost investment across a range of markets, from first-time buyers to middle-class strata.

Vikas Bhasin, Chairman and Managing Director of Saya Group

The real estate industry has been strengthening over the past few years, and RBIs decision to keep the repo rates unchanged would help accelerate the trend. The current 6.50% repo rate is well received by the market, and the developers have planned exciting new launches in view of the upcoming festive season. We anticipate a record-breaking performance from the housing sector this Diwali because demand for upscale and luxurious properties is at an all-time high.

Mohit Goel, MD, Omaxe Group

One year ago, the repo rate was 5.9% (September 2022). Despite RBI maintaining the status quo in the last few MPC meets, including the current quarter, the Repo Rate at 6.5% is still high. Even though the real estate sector has remained unaffected and continues performing well, we hope RBI meets its objective of reining inflation. On a positive note, the RBI’s stance imparts the sector with the hope that the chances of a rate increase in the future are slim.

Prateek Mittal, Executive Director, Sushma Group

RBI has decided to maintain the repo rate for the fourth consecutive time and kept it unchanged at 6.5%. This reflects RBI’s confidence in the economic outlook. Potential home buyers will directly benefit from this move as there will be no increase in loan interest rates. This step will ensure that the real estate sector is able to reach new heights without facing any financial challenges. It is a step to provide relief to the common man and home buyers.

Rajjath Goel. Managing Director, MRG Group

The festive season is about to begin, and the Reserve Bank has greatly relieved prospective buyers by keeping the repo rates unchanged. The repo rate was last increased in February, since then there have been no further changes in the repo rate, and no additional charges will be imposed on the buyers. People will now come forward to buy houses, vehicles and other goods without any financial worries. Not increasing the repo rate during the festive season is indeed a commendable step.

Tejpreet Singh Gill, MD Gillco Group

The unchanging repo rates, a policy that greatly benefits the markets by ensuring a stable rate and a supportive posture, persist. However, there are specific challenges within the real estate market that require addressing. With the festive season on the horizon, this decision will serve as a blessing for the real estate sector.

Surender Kaushik, Managing Director, Aryan Realty Infratech Pvt Ltd

The decision to maintain the repo rate at 6.5% without any changes is a meaningful indicator of RBIs evolving perspective. Despite the hurdles presented by elevated EMIs and interest rates, this choice is likely to boost buyers confidence and stimulate the growth of the sector. The positive outlook for the real estate market in the NCR region is anticipated to stimulate investments in high-end projects.

Ajendra Kumar, Vice President (Sales & Marketing) Spectrum Metro

The RBIs choice to maintain the repo rate at 6.50 percent represents a constructive move aimed at alleviating the financial strain on prospective buyers. The rise in monthly EMIs over the recent months has been challenging for individuals in the middle and lower-income brackets. This decision is poised to provide a significant incentive for these potential buyers in the commercial sector to go ahead with their property purchases. Furthermore, it is anticipated to stimulate the development of affordable and mid-range commercial projects, nurture a robust real estate market, and facilitate more individuals in achieving their dreams of property ownership.

Leptos Estates Showcases the Greek Permanent Residency Programme’s Triumph in India amid European Changes

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Leptos Estates, a leading property developer in Cyprus & Greece, is pleased to announce the continued success and growing popularity of the Greek Permanent Residency Programme for Indians. As European countries re-evaluate their immigration policies, the programme stands out as an attractive option for Indian investors seeking permanent residency in Europe.

The Greek Permanent Residency Programme has been a beacon of opportunity especially for Indian families from around the world. Investors are drawn to Greeces rich cultural heritage, stunning landscapes, and the unparalleled lifestyle it offers. By investing in Greek real estate, applicants can secure a pathway to European residency, making it a golden opportunity in todays ever-changing immigration landscape.

According to recent data from Schengen Visa Info, Greece has witnessed a surge in interest, with over €1.57 billion invested in the last 12 months through the Greek Golden Visa Programme. This program, which provides Greek residency to foreigners who invest in real estate, is increasingly becoming the preferred choice for individuals seeking a European foothold. Additionally, data tabled by Ministry of External Affairs (MEA) states that over 2.25 lakh Indians renounced Indian citizenship in 2022. The data reflects how Indians, especially high net worth individuals (HNIs) are moving towards Greece in search of better opportunities, healthcare, quality of life, and education, among several other factors.

While several European countries are revising their immigration policies (Ireland, Spain & Portugal have closed their Permanent Residency/Golden Visa programmes via Real Estate Investment), Greece has continued to provide a stable and appealing option for investors.

Even Greece since August this year increased the Investment amount from € 250000 to € 500000 in certain areas of Greece Luckily it is still the most economical programme in Europe and the investment amount in Crete (Greece’s largest island with 3 International Airports /Ferry terminal and Cruise port) and the beautiful Island of Paros, remains at € 250,000. Around INR2.5 CR.

The investment gets you a PR for Life for all 3 generations of your family unit. Free Government health & education. The freedom to travel across most of Europe, including Schengen countries without a visa. And the ability to do business in Greece and also access other EU markets.

The property itself gives you good rental income and great capital appreciation. The market is giving 10% capital appreciation year on year. Greece economy is also rated stable & positive by Fitch, Moody’s, S&P and others. Moreover, it is also a ‘Gateway to the Greek (European passport) if you so desire.

This is echoed by Pantelis Leptos, Co-president of Leptos Group of Companies, who stated, “Greeces Permanent Residency Programme for Indians is a testament to the countrys commitment to attracting global investors. Our nations natural beauty, combined with a thriving real estate market, makes Greece an exceptional destination for those seeking European residency. The real estate you buy is on the beautiful Mediterranean Sea and most of our projects are sea from or with spectacular Sea views Leptos Estates dedication to crafting dream homes in Greece has been a driving force behind the success of the Greek Permanent Residency Programme especially for Indians.”

The companys expertise in real estate development and continued commitment to excellence have made it a trusted partner for investors looking to secure their future in Europe. Leptos provides a ‘One stop shop‘ for investors. They do all the PR paperwork, organise rental income & also maintain your property for a hassle-free smooth experience.

About Leptos Estates
The Leptos Group is a renowned organization with a remarkable legacy spanning over 63 years, currently operating in over 75 countries worldwide. The Group’s enduring success is exemplified by its impressive portfolio of over 350 completed projects. With a focus on customer satisfaction, the Leptos Group takes pride in having delighted over 25,000 homeowners who have found their dream homes with them. Moreover, the Group possesses an extensive land bank, encompassing an impressive 5 million square meters of prime land for development.

Flipkart and Bajaj Finance Partner to Offer Consumers Exclusive Deals on Bajaj Finserv EMI Network Card

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Bajaj Finance Ltd., part of lending arm of Bajaj Finserv Ltd., one of India’s leading and diversified financial services companies, has partnered with Flipkart, Indias leading e-commerce platform for its Big Billion Days Sale.

Flipkart partners with Bajaj Finserv EMI Network Card for Big Billion Days Sale

The collaboration comes ahead of the festive season, enabling consumers to take advantage of a wide range of exclusive offers, attractive pricing and easy No Cost EMI financing options on electronic, durables, lifestyle and home products.

Customers can buy new smartphones, laptops, tablets, electronic items, TVs, Home & Kitchen Appliances, beauty products, clothing, home decor, and more.

Consumers can avail Bajaj Finance’s exclusive No Cost EMI coverage on various Apple products such as AirPods, Watches etc. As the festive season is also a season of gifting, consumers can upgrade their smartphones and gift the latest ones like Samsung S21 FE, REDMI Note 12 Pro, MOTOROLA e13, Realme 11 Pro+ 5G, Vivo T2 pro, POCO C55,Realme C53,Infinix Note 30, and Infinix HOT 30i using the Bajaj Finserv No Cost EMI payment option during Flipkart’s Big Billion Days Sale.

Financing the Shopping Cart

Customers can also avail cart financing across segments such as Small Electronics, Home Kitchen, Furniture, Sports, Automotive, Apparel etc., on cart value above Rs. 2997/-. If customers face an error while processing their cart financing during payment, they need to first check if the product they are purchasing is covered or not under Bajaj Finserv’s No Cost EMI option. If not, then they need to remove the product from the cart and retry the payment option.

Mega Exchange Mela for Appliances

With Flipkart’s The Big Billion Days Sale, customers can opt for better upgrades for their home dcor with the Mega Exchange Mela on all large appliances like TV/Washing Machines/refrigerators/AC/Microwave etc.

How to Avail No Cost EMIs on Exchange Offer

(Please note this is available on Mobile, Tablets, Laptops, TVs, ACs, Washing Machines and Refrigerators only)

Select the product you’re looking to purchase

Select delivery location to check availability

Look for “with Exchange”

Enter basic details of the used product

Hit the “buy Now with Exchange”

Your used product will be picked up

Access Your Bajaj Finserv EMI Card Number

To find your Bajaj Finserv EMI Card Number, simply give a missed call to 92100 35555 to receive the app link. After downloading the App Now, follow these steps:

1. Click on the “EMI” icon in the top right corner.

2. Enter your date of birth.

3. Click “View” to access your EMI card number.

4. Enter the OTP.

5. Your masked EMI card number will be revealed.

This exciting collaboration between Bajaj Finance Limited and Flipkart is set to make festival season more exciting and fun, and at the same time more affordable and convenient than ever before.

About Bajaj Finance Limited

Bajaj Finance Ltd. (‘BFL’, ‘Bajaj Finance’, or ‘the Company’), a subsidiary of Bajaj Finserv Ltd., is a deposit taking Non-Banking Financial Company (NBFC-D) registered with the Reserve Bank of India (RBI) and is classified as an NBFC-Investment and Credit Company (NBFC-ICC). BFL is engaged in the business of lending and acceptance of deposits. It has a diversified lending portfolio across retail, SMEs, and commercial customers with significant presence in both urban and rural India. It accepts public and corporate deposits and offers a variety of financial services products to its customers. BFL, a thirty-six-year-old enterprise, has now become a leading player in the NBFC sector in India and on a consolidated basis, it has a franchise of 72.98 million customers. BFL has the highest domestic credit rating of AAA/Stable for long-term borrowing, A1+ for short-term borrowing, and CRISIL AAA/Stable & [ICRA]AAA(Stable) for its FD program. It has a long-term issuer credit rating of BBB-/Stable a and a short-term rating of A-3 by S&P Global ratings.

To know more, visit www.bajajfinserv.in.

Plasma Water Solutions Ties-up with up Govt to Enhance Agri Productivity

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Plasma Water Solutions (I) Pvt. Ltd., a wholly-owned subsidiary of Plasma Water Solutions Inc., USA, today announced a momentous partnership aimed at transforming agriculture in Uttar Pradesh. In collaboration with UPDASP (Uttar Pradesh Diversified Support Program) and UP Horticulture, Department of Agriculture, Government of Uttar Pradesh, Plasma Waters unveiled a ground-breaking Plasma-sized Water Technology Demonstration. This pioneering technology harnesses the power of nature to produce Plasma-sized WaterTM using water and electricity, offering a multitude of benefits to the agricultural sector. The solution is aimed at productivity enhancement and considerable reduction of chemical usage through technology and innovation.

Plasma Water Team with UP Government and IAS Manoj Kumar

The official inauguration of this technology happened today, at Rae Bareli, Uttar Pradesh. The event was graced by Chief Guest Shri Manoj Kumar Singh, IAS, Agriculture Production Commissioner, Infrastructure & Industrial Development Commissioner, and Additional Chief Secretary to the Government of Uttar Pradesh, along with his esteemed team comprising the UP DASP Technical Coordinator, UP Horticulture Director, and the global and Indian teams from Plasma Waters.

Plasma-sized WaterTM represents a significant advancement in agricultural practices, as it signals the genetic pathways and circuits in all crop plants, leading to faster and more efficient germination accelerating growth, preventing the transmission of pathogens and enhancing stress tolerance ultimately leading to increased productivity and higher crop quality. It is a game changing natural solution for plant health drastically reducing the dependence on chemicals, fostering sustainable farming practices. This sustainable and nature-inspired approach to farming aligns perfectly with the vision of Uttar Pradesh for its farmers.

Shri Manoj Kumar Singh, IAS, said, “This partnership signifies a major milestone and a strong commitment within our community to drive growth, spur innovation, and encourage collaboration throughout the region.”

Our purpose is enabling food security in the era of climate change which requires the collective efforts of agtech companies like ours, Government, farmers & other key stakeholders of the Ag ecosystem. India being one of the largest global agrarian economies and UP being its largest state, are of vital importance for us to achieve our vision,” said Mr Jerry Zuchowicki, CRO, Plasma Water Solutions Inc.USA.

Adding to that Ms. Pragya Kalia, Managing Director of Plasma Water Solutions (I) Pvt. Ltd., India, commented, “We are honored to introduce Plasma-‘ized WaterTM technology to the agricultural community in Uttar Pradesh. This innovation has the potential to revolutionize farming practices, aligning perfectly with the states vision for sustainable and productive agriculture.”

Additionally, Expressing his thoughts about this association, Dr. Jai Prakash, Technical Coordinator, UPDASP, Department of Coordination, Govt of UP, stated that in persuit of continuously bringing innovative ways to support our FPOs & farmers, we believe Plasma Waters has immense potential and we are eager to see the results supporting our initiatives of Diversified Agriculture.

The inaugural event was hosted at Dinshaw Gaura FPO under the aegis of Intecco Technical Services Pvt.Ltd who are also mentoring farmers by providing forward & backward linkages to transform agriculture landscape in the block. Interesting range of products like Haldi chips, natural honey were also unveiled by the Chief Guest on the occasion.

About Plasma Water Solutions (I) Pvt Ltd

Plasma Water Solutions Inc. is a US based technology company with subsidiaries in India, Germany and Chile. The Company specializes in low temperature plasma technology to create innovative water solutions for plant, water and soil health. Its patented breakthrough technology generates Plasma-ized WaterTM, a new kind of water that has been proven to boost the quality and amount of agricultural output, supporting sustainable & natural agricultural practices thereby increasing food productivity. Using just water and electricity, it generates Plasma-ized Water in continuous flow, on demand, at the point of use. It has also created a solution for monitoring water quality in real-time for industrial processes, defence and security.

For more information, please visit www.plasmawaters.com.

Bajaj Finance and Amazon Partner to Offer Exclusive Deals via Bajaj Finserv EMI Card at Great Indian Festival

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Bajaj Finance Ltd., part of Bajaj Finserv Ltd., one of India’s leading and diversified financial services companies, has partnered with Amazon, Indias leading e-commerce platform for the Amazon’s Great Indian Festival.

Bajaj Finser partners with Amazon for Great Indian Festival with EMI NetworkCard

The collaboration enables consumers to purchase durables, electronics, and home products of their choice during the festive season and take advantage of exclusive deals, attractive pricing and easy No Cost EMI financing options.

As the festive season is also a season of gifting, consumers can upgrade their smartphones and gift the latest ones like Redmi 12 5G, Redmi 12C , OnePlus Nord CE 3 Lite 5G, iQOO Z7 Pro 5G, iQOO Neo 7 Pro 5G, TECNO Pova 5 Pro 5G, realme narzo N55, and Samsung Galaxy M34 5G using the Bajaj Finserv No Cost EMI payment option during Amazon’s Great Indian Festival.

Financing the Shopping Cart
Customers can also avail cart financing across segments such asHome, Kitchen, Garden, Furniture, Sports, Automotive, Personal Care Appliances, Video Gamesetc. on cart value above Rs 4500. If customers face an error while processing their cart financing during payment, they need to first check if the product they are purchasing is covered or not under Bajaj Finserv’s No Cost EMI option. If not, then they need to remove the product from the cart and retry the payment option.

Mega Exchange Mela for Appliances
With Amazon’s Great Indian Festival, customers can opt for better upgrades for their home decor with the Mega Exchange Mela on all Large Appliances like TV/Washing Machines/refrigerators/AC/Microwave etc.

How to Avail No Cost EMIs on Exchange Offer

(Please note this is available on Mobile, Tablets, Laptops, TVs, ACs, Washing Machines and Refrigerators only)

Select the product you’re looking to purchase

Select delivery location to check availability

Look for “with Exchange

Enter basic details of the used product

Hit the “buy Now with Exchange

Your used product will be picked up

Access Your Bajaj Finserv EMI Card Number

To find your Bajaj Finserv EMI Card Number, simply give a missed call to 92100 35555. Give a missed call on 92100 35555 to get the App link download the App Now (bfl.onelink.me/857331112/75d) and follow the steps to view your card:

1. Click on the “EMI” icon in the top right corner.
2. Enter your date of birth.
3. Click “View” to access your EMI card number.
4. Enter the OTP.
5. Your masked EMI card number will be revealed.

This exciting collaboration between Bajaj Finance and Amazon is set to make the festival season more exciting and fun, and at the same time more affordable and convenient than ever before.

About Bajaj Finance Limited

Bajaj Finance Ltd. (‘BFL’, ‘Bajaj Finance’, or ‘the Company’), a subsidiary of Bajaj Finserv Ltd., is a deposit taking Non-Banking Financial Company (NBFC-D) registered with the Reserve Bank of India (RBI) and is classified as an NBFC-Investment and Credit Company (NBFC-ICC). BFL is engaged in the business of lending and acceptance of deposits. It has a diversified lending portfolio across retail, SMEs, and commercial customers with significant presence in both urban and rural India. It accepts public and corporate deposits and offers a variety of financial services products to its customers. BFL, a thirty-six-year-old enterprise, has now become a leading player in the NBFC sector in India and on a consolidated basis, it has a franchise of 72.98 million customers. BFL has the highest domestic credit rating of AAA/Stable for long-term borrowing, A1+ for short-term borrowing, and CRISIL AAA/Stable & [ICRA]AAA(Stable) for its FD program. It has a long-term issuer credit rating of BBB-/Stable a and a short-term rating of A-3 by S&P Global ratings.

To know more, visit www.bajajfinserv.in.

The Most-awaited ‘Radio City Super Singer’ Season 15 is Back to Elevate Melodies with Padmi Shri Kailash Kher as the Mentor

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Enriching its legacy as the largest singing platform, RCSS Season 15, is proud to onboard esteemed mentor Padma Shri Kailash Kher for the fourth consecutive year

With Honda BigWing as the presenting sponsor, this season will set the stage for musical excellence and inspire the stars of tomorrow with a grand musical extravaganza

Radio City, Indias leading radio network, raises curtains on the most-awaited Season 15 of its marquee property, Radio City Super Singer (RCSS). Popularly known to provide a stage to budding singers, this season is set to explore music deeply while captivating the singer’s journey into the realm of music. With a legacy spanning 14 successful seasons, Radio City Super Singer has evolved into a celebration of raw vocal talent and a testament to the unifying power of music. This season, with Honda BigWing as the presenting sponsor, Radio City Super Singer expands its reach to encompass the prominent digital platforms alongside on-air and on-ground presence.

Radio City Super Singer 2023

With this year’s theme, Jiska Gana Vibe Karega, Wahi India Ka Singing Star Banega Radio City will honor the diverse musical tapestry that our nation encompasses. Renowned for his captivating musical prowess, Padma Shri Kailash Kher returns as the guiding light for an impressive fourth consecutive year, infusing the competition with his unparalleled expertise and unwavering mentorship. His presence ensures that the participants receive not only technical guidance but also a deep understanding of the emotional nuances that bring music to life.

Speaking about the launch of Season 15 of Radio City Super Singer, Ashit Kukian, Chief Executive Officer, Radio City, said, “A platform as influential as Radio City Super Singer possesses remarkable capability to unearth and nurture extraordinary talents from all corners of our diverse nation. As we embark on the 15th edition of this musical odyssey, renowned brand Honda BigWing has come onboard as our presenting sponsor. Radio City Super Singer is not merely a competition; its an endowing platform that empowers individuals to transcend boundaries and embrace their passion for music. Its a transformative journey that holds the potential to propel the singers closer to their aspirations and dreams. Together, lets create a harmonious symphony that resonates with the hearts of millions, and inspire future generations of musical luminaries.”

Reflecting on his profound journey, Padma Shri Kailash Kher said, “The privilege of being associated with Radio City Super Singer for the fourth consecutive year has been a source of immense joy and satisfaction. Witnessing the evolution of budding talents into confident performers has been an enriching experience. As we step into yet another chapter of this melodious saga, I am thrilled to take on the role of a mentor again, guiding, and nurturing participants on their path to explore and express their musical talents.”

The current season promises to be a symphony of emotions, talent, and dedication. From meticulous auditions that seek out the finest voices to mentorship that shapes promising artists, season 15 is a journey of self-discovery and a celebration of the magic that deeply touches all of us. The nomination will be held on-air, on-ground and on digital platforms from 3rd to 12th October and the voting lines will be open from 16th to 19th October. The grand finale of Radio City Super Singer Season 15 is scheduled from 20th to 22nd October. The target demographic of this show consists of males and females over the age of 18 or any adult who has an innate desire to sing and showcase their talent. The top 5 singers from each market will be shortlisted and a winner & a runner-up will be announced from each market. If you love music and singing is your passion, then Radio City Super Singer is the perfect platform for you.

Register yourself or your loved one by visiting www.radiocity.in/rcss.

About Radio City

Music Broadcast Limited (MBL) is a Listed subsidiary company of Jagran Prakashan Limited that owns and runs FM radio stations all over India, popularly known as “Radio City“. The brand Radio City is committed to offering innovative advertising solutions to a wide range of clients through the integration of radio with digital offerings. It also engages in conceptualizing, producing, and organising significant on-ground events at a national and international level, as well as providing opportunities for clients to engage with social media influencers. Being the first private FM radio broadcaster in India with over two decades of expertise in the radio industry, Radio City has consistently been the No.1 radio station in Bengaluru with 25.2% and No.2 in Mumbai with 14.3% average listenership share respectively. (Source: RAM Data, TG: 12+ Period: Week 1, 2013 to Week 52, 2022). Radio City Delhi ranks #3 with 11.7% average listenership share (Source: RAM Data, TG: 12+ Period: Week 1, 2019 to Week 52, 2022).

Radio City has established a strong presence across 39 stations in 12 states and 1 Union Territory, comprising 62% of the country’s FM population. Radio City reaches out to over 69 million listeners across India covered by AZ Research 2019 (Source: AZ Research Report). The network provides terrestrial programming through its digital interface, www.radiocity.in.

Radio City has spearheaded the evolution of FM radio by offering content that is unique, path-breaking and invokes city passion among listeners with its brand philosophy of “Rag Rag Mein Daude City”. With the recent launch of its new station sound #CityKiNayiVibe, a modern version of Rag Rag Mein Daude City, Radio City aims to engage with the young and vivacious Gen Z audience who sought coolness quotient in their experiences. The network’s humour-based IPs ‘Babber Sher’, ‘Joke Studio’, and the IP ‘Love Guru’ with a concept of love, relationships and romantic endeavours are immensely revered by the audience. In 2013, the radio station introduced ‘Radio City Freedom Awards’, a platform to recognize independent music. The leading FM station provides a launch pad to budding singers with ‘Radio City Super Singer’, the first singing talent hunt on radio in the last fourteen years. In 2022, the organization launched its pioneering international property ‘Radio City Business Titans’ to recognize Indian businesses for their unwavering business excellence.

Radio City has bagged over 160 awards across renowned national and international platforms such as New York Festivals Radio Awards, ACEF Global Customer Engagement Forum & Awards, e4m Golden Mikes – Radio & Audio Awards, India Audio Summit and Awards, India Radio Forum, etc. in the recent past. In 2022, Music Broadcast Limited won ‘Indias Best Company of the Year 2022’ Award by Berkshire Media. Radio City has been consistently featured for the 7th time in ‘India’s Best Companies to Work For’ study conducted by the Great Place to Work Institute. The company has also been recognized in ‘India’s Best Workplaces for Women – 2019’ and has ranked among the Top 75 organizations on the list. In 2020, Radio City ranked 4th in ‘Best Large Workplaces in Asia’, according to the GPTW survey.

Kotak Fund to invest ₹1,600-Cr in Nimmagadda Prasad’s API business

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The Kotak Strategic Situations Fund (KSSF), an alternative assets management fund within the Kotak Group, intends to invest around ₹1,600 crore in the active pharmaceutical ingredients (API) business recently purchased by Nimmagadda Prasad from Viatris, said two people aware of the development. 

KSSF plans to back this ₹3,800 crore ($450 million) acquisition through a $200 million funding, which will be a mix of structured debt and equity, as per the sources. Additionally, Deutsche Bank and DBS are reported to have provided financing for the acquisition. However, the precise details of the transaction structure remain undisclosed.

Prasad, the founder of Matrix Laboratories, had previously sold his API manufacturing business to Mylan, which was later rebranded as Viatris, back in 2007. This acquisition was facilitated through Iquest Enterprises. In March, Kotak Investment Advisors successfully raised $1.25 billion as the initial close of the Kotak Strategic Situations Fund II (KSSF II). This fund is designed to offer strategic solution capital to a wide range of growth and value-oriented companies, irrespective of their industry. It will provide various forms of capital, including equity, debt, and hybrid capital.

The first fund, Kotak Special Situation Fund I, has completely invested $1 billion across 14 companies. 

Notable investments within this portfolio include ₹1,070 crores in Biocon, as well as significant stakes in AGS Transact Technologies, Sify Infinit Spaces, Gold Plus Glass Industry Ltd, logistics company TVS Supply Chain Solutions, speciality chemicals firm DCW, cement player Sanghi Industries, and Nuvoco Vistas.

Kotak Investment Advisors (KIAL), established in 2005, has successfully raised more than $8.7 billion across various asset classes. These include private equity, real estate, infrastructure, special situations, and listed strategies.

Viatris had previously made its non-core businesses in India available for sale, which included the API business and women’s healthcare business Famy Care. However, the API sale process faced challenges in attracting serious buyers due to the company’s significant exposure to the antiretroviral (ARV for HIV/AIDS) sector, which has a limited sales volume.

Viatris had initially aimed for an enterprise value of $600 million (₹5,000 crore) for the API business, which represented a multiple of six times its FY24 EBITDA number. However, it ultimately sold the business at a lower price.

KCP Hands Over Integrated Air Drop Test – Crew Module Structure to ISRO, Meant for Gaganyaan Mission

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The Integrated Air Drop Test (IADT) of the Crew Module (CM) structure is a part of ISRO’s demonstration of its Technology Preparedness levels before carrying out the actual manned mission

While ISRO designed the IADT-CM structure, KCP-Heavy Engineering Unit fabricated and realised it at its in-house facility

The Chennai-based KCP – Heavy Engineering Unit handed over the first Integrated Air Drop Test – Crew Module structure (IADT-CM) to Indian Space Research Organisation (ISRO) here today. Dr. V.L. Indira Dutt, Chairperson and Managing Director, The KCP Group handed over the structure to Mr. R. Hutton, Acting Director, Human Space Flight Center, ISRO, at a function held at KCP-Heavy Engineering Unit’s integrated facility in Thiruvotriyur.

KCP Hands Over Integrated Air Drop Test – Crew Module Structure to ISRO, Meant for Gaganyaan Mission

ISRO had earlier placed an order with KCP for the fabrication of two IADT crew module structures, both meant for the demonstration of its Technology Preparedness levels before carrying out Gaganyaan spacecraft, India’s first human space flight programme. The first IADT-CM is fabricated at KCP’s integrated facility for heavy casting, machining, and fabrication in Thiruvotriyur. The second one will be supplied to ISRO by March 2024.

The first IADT-CM weighs 3,120 kg and measures 3.1 diameter and 2.6-meter height. It is made of light alloy (aluminum) and 15CDV6 steel. The structure comprises more than 100 components that were joined together with welding, riveting and threaded fastening techniques. It will accommodate major subsystems like parachute system, pyros, avionics, and buoyance augmentation system.

While ISRO designed the IADT-CM structure, KCP-Heavy Engineering Unit fabricated and realised it at its in-house facilities. The fabrication of the structure is a challenging job, involving critical forming, precision machining, and stringent assembly required of both aluminum and high strength steel. Thanks to KCP’s infrastructure and skilled workmanship the realisation of this critical hardware is made possible.

ISRO’s Gaganyaan Mission envisages launching a crew of two to three members to an orbit of 400 km for a 3-day mission and bringing them back safely to the earth by facilitating the landing in Indian sea waters. The spacecraft mainly consists of Crew Module and Service Module. The CM structure, fabricated at KCP, simulates the shape and size of the actual Gaganyaan crew module. The Integrated Air Drop Test will be performed using an Indian Air Force helicopter by taking the Crew Module structure to an altitude of 3.6 to 4 km to validate the deceleration system (parachute & pyro’s) performance.

About KCP – Heavy Engineering Unit
KCP – Heavy Engineering Unit, Chennai, supplies equipment for the core engineering sector (such as cement, sugar, mineral, power & steel), oil & gas industries and Indian defence, space and nuclear establishments. It has an integrated facility for heavy casting, machining & fabrication under one proof.

KCP has been in association with ISRO for the past three decades and supplies flight hardware for rocket vehicles like motor cases, nozzle divergent and inter stage structures. KCP supplied heavier ground parts for propellant casting & vehicle launching facilities like Mobile Launch Pedestal and 7.0m Dia Vacuum Chamber. It shows KCP’s presence in every sphere of Space. The company is planning to expand its facilities to participate in a larger way in ISRO’s future programmes. Specifically, it is planning to set up a precision machining unit and looking at the bigger diameter rocket motor casing and also the inter-stage and tank structure fabrication for ISRO’s Next Generation Launch Vehicles.

Startup Odisha launches campaign with Business Club of Entrepreneurs to expand its outreach to larger number of entrepreneurs

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Startup Odisha has initiated a campaign in partnership with the Business Club of Entrepreneurs. The aim is to create awareness about Startup Odisha’s various programs and benefits, targeting a broader entrepreneur audience. 

This significant effort began with a lively Coffee Session at O-Hub in Bhubaneswar. Dr. Omkar Rai, the Executive Chairman of Startup Odisha, and key members of the Business Club of Entrepreneurs (BCE) participated in this event. It served as a platform for discussions and the sharing of ideas, setting the stage for an exciting journey ahead.

Startup Odisha aims to expand this collaboration to include other business associations within the state, with the main objective of reaching a wider audience. Through partnerships with different stakeholders, Startup Odisha intends to motivate more startups and entrepreneurs to join their dynamic ecosystem.

Dr. Omkar Rai, the Executive Chairman of Startup Odisha, expressed his enthusiasm about this collaboration, stating, “We are thrilled to reach out to more entrepreneurs, share the manifold benefits of Startup Odisha, and, importantly, listen to their queries and aspirations. This partnership underscores our resolute commitment to bolstering the startup ecosystem in the state and empowering entrepreneurs to seize the opportunities we offer.”

The partnership between Startup Odisha and BCE demonstrates a dedication to establishing a nurturing environment for entrepreneurs and startups throughout the state. This marks a strategic step towards fostering innovation, cooperation, and sustainable development within the entrepreneurial community.

G Square Launches Wellness Themed Plotted Community, G Square Orion in Sulur, Coimbatore

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G Square, South India’s largest plot promoter and Tamil Nadu’s No. 1 Real estate developer announced the launch of its newest project G Square Orion, a wellness themed plotted community in Sulur, Coimbatore.

G Square Orion, Wellness themed plotted community in Sulur, Coimbatore

The DTCP-approved and RERA-registered project will consist of 213 residential plots in a secured community of 10.7 acres of land with more than 40 world-class amenities. The project will mainly be recognized for maintaining close proximity to the Trichy Road, which connects the city to prominent points like Singanallur Bus Terminus and Sulur Air Force Station and the east and south-east suburbs in the Coimbatore metropolitan area such as Singanallur, Ramanathapuram, Ondipudur, Chinthamanipudur, Sulur, and Karanampettai.

G Square Orion will also witness other city developments like the upcoming Defence park, where initial stages of land acquirement of 420 acres have already begun and a target of 1.25 lakh crore-worth of domestic manufacturing has already been set over the next three years while a private company has initiated a bio-diversity park which houses more than 300 varieties of plants, rare trees, herbal and aquatic plants, walkers’ path, children’s play equipment, outdoor gym, mini library, metal art installation and a volleyball court to promote an idea of community living. Further, TIDCO has also proposed for a 200-acre Aerospace Industrial Park to be established at Sulur, which will in the coming years attract major Aviation and Defence (A&D) Original Equipment Manufacturers (OEMs) and their sub-tier partners to set up manufacturing facilities in this zone.

Speaking on the launch, Mr. Bala Ramajeyam, Managing Directorof G Square Realtors Private Limited said, “Sulur was always known to be a quaint residential location in Coimbatore which people preferred to settle in. The location currently however is witnessing post-modern developments, such as the proposal of the Defence corridor and the upcoming Aerospace Industrial Park. These developments project major infrastructural development in Sulur in the coming years. Additionally, the location is also known to have domestic benefits like proximity to the Coimbatore airport and the presence of some of the best schools within the city around it. G Square Orion is providing a golden opportunity for people to buy a plot of land and further build their dream home in a hot property prime location like Sulur, which will be very difficult in the coming years post the materializing of the future developments. And we have further ensured that our plotted community will be a wellness themed project to give our customers a relaxing and refreshing feel and atmosphere amidst all these fast-paced development happening around the locality, so they can have both the benefit of experiencing both development and comfort at once.”

G Square Orion will consist of ready-to-build villa residential plots with prices starting from Rs. 28 lakhs (3 cents) onwards with plots open for sale at an early bird price offer of Rs. 9.25 lakh percent for the first 10 bookings after which the launch price will be Rs. 9.75 lakh per cent.

About G Square

G Square is South India’s No. 1 Real Estate Developer that brings to you a lifestyle-defining curation of upscale selections to choose from. Our proactive and keen sense of identifying opportunities has helped build many dream houses and iconic businesses within G Square’s secured communities. Over 10000+ happy customers have trusted the transparent and hassle-free ownership of land in South India’s most potential addresses with G Square’s easy housing transactions.

Spread across Chennai, Bengaluru, Hyderabad, Coimbatore, Trichy, Ambur, Theni, Dindigul, Theni, Udumalpet, Tirupathur, Hosur, Mysuru & Ballari over the past 10 years, we have delivered the most lucrative investment lands with world-class amenities in G Square’s secured communities. With “2 Years of Free Maintenance” and all essentials covered, we aim to empower families and businesses to build the next chapter of their life on land they own.

For more details log onto: www.gsquarehousing.com.

Rera No – TN/11/Layout/3657/2023