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| Jan 01, 1970 | Daily Report |
| RISING BHARAT | News Count (102251) | |
22071. Wistron commences assembling of Apple iPhone SE 2 in Kolar
Make in India / Atmanirbhar
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Investment in Bharat by companies of other countries
English
Karnataka
Deccanherald
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- Apple's long-time supply partner Wistron has started assembling the company's latest iPhone SE model in Kolar, Karnataka
- Previously, Wistron has been producing iPhone 7, iPhone 6S, and before that the first generation iPhone SE since 2017 at the company's Peenya plant, in the western industrial hub of India's Silicon Valley.
- It can also be noted that Wistron has already hired 1,000 people at its Narsapura plant. Another 9,000 are expected to join the workforce in the coming weeks
22072. [Funding alert] EVage raises investment from Ola Electric co-founder, others
Make in India / Atmanirbhar
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Investment in Bharat by Bhartiya companies
English
India
Your Story
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- EVage, an electric vehicles (EV) and mobility tech startup, has raised an undisclosed amount of funding led by Ola Electric Co-founder and Senior Advisor Anand Shah. The other participants in this funding round include BryAir Director Varun Pahwa, and DMI Group partner Anmol Nayyar, according to a statement.
- EVage is set to launch their first electric delivery van, which the startup says is a completely 'made in India' structure. The funds raised will be used to build vehicles and deliver the initial orders.
- EVage is based out of Chandigarh and has been actively designing and manufacturing exoskeleton structure, and a purpose-built EV platform for commercial vehicles.
22073. Schneider Electric launches 'Made In India' anti-bacterial and self-disinfecting switches, sockets
Make in India / Atmanirbhar
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Investment in Bharat by Bhartiya companies
English
India
India Tv
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- Schneider Electric, the leader in the digital transformation of energy management and automation, today announced the launch of its anti-bacterial and self-disinfecting switches and sockets under its Livia product range.
- Powered by the Silver Ion technology which can kill over 99.9% bacteria and fungi, these products have been conceptualised and manufactured in India as a part of Schneider Electric’s commitments towards ‘Make in India’ aimed at making an AtmanirbharBharat
- Strengthening its commitment towards contributing to the growth of Atmanirbhar Bharat, Schneider Electric has made this product range available in the Indian market at the existing price of the Livia range and shall not be charging any premium.
22074. This startup founded by an IIT Kharagpur alumnus provides dunzo-like service to senior citizens
Make in India / Atmanirbhar
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Investment in Bharat by Bhartiya companies
English
India
Your Story
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- EvrCare is an AI-based hyperlocal support system through which one can take care of the assistance, companionship, and wellness needs of senior citizens from any part of the world. EvrCare is an artificial intelligence (AI)-based hyperlocal support system through which one can take care of the assistance, companionship, and wellness needs of senior citizens from any part of the world.
- The company is headquartered in Singapore and launched in India this year. It offers a myriad of services for parents and senior citizens in Bengaluru, Delhi, Mumbai, Chennai, Hyderabad, and Calcutta. Also, it has virtual plans for senior citizens across India.
- Currently the average transaction value of the platform is at Rs 300 for essential deliveries and Rs 3,000 for subscription-based consumers. The average margin per transaction is 50 percent and the total registered service providers are 500. The team claims to have seen a 2x month-on-month growth until now.
22075. Flipkart’s Vocal for Local move: To promote Assam’s handloom, handicraft as PM pushes for Make in India
Make in India / Atmanirbhar
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Investment in Bharat by companies of other countries
English
India
Financial Express
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- Flipkart has inked an agreement with the Assam government to promote the state’s local artefacts and handloom products on its e-commerce marketplace as the government continues to push for Make in India and supporting domestic manufacturing.
- Flipkart, which runs Samarth to promote handicraft and Indian handloom products, will help Assam’s local artisans to showcase their hallmark products to millions of customers across the country.
- Under its Samarth program, Flipkart said that it is supporting the livelihood of more than 6,00,000 artisans, weavers and micro-enterprises across India.
22076. PAG to acquire 51% in wealth management, investment banking biz of Edelweiss for Rs 2,244 cr
Make in India / Atmanirbhar
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Investment in Bharat by companies of other countries
English
India
The Economic Times
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- PAG has agreed to buy a controlling stake in the wealth management and capital markets business of Edelweiss Financial Services that also includes investment banking, its first large deal in the country after setting up local base in 2019. PAG, among the largest Asia-focussed alternative asset management firm, on Thursday said in an official statement that it is paying Rs 2,244 crore to buy a 51% stake in these businesses that will be carved out of Edelweiss subsidiary, called Edelweiss Global Investment Advisors.
- In Edelweiss, both these businesses come under the omnibus umbrella of Edelweiss Global Wealth Management Limited (EGWML). The company will issue compulsorily convertible debentures (CCDs) to PAG worth Rs 2,204 crore. There will also be a primary issuance of securities by Edelweiss’ securities business of around Rs 140 crore to EGWML and PAG along with the other existing shareholders
- PAG is looking to invest upwards of $1 billion in India over the next three years to buy out targets, provide growth equity and even structured finance with an eye to fix the broken balance sheets at India Inc, its CEO and Chairman Weijian Shan told ET in an earlier interview.
22077. MF investment in REITs jumps three-fold to Rs 735 crore in H1 2020
Make in India / Atmanirbhar
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Investment in Bharat by Bhartiya companies
English
India
The Economic Times
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- Emerging investment instrument REIT seems to be finally catching investors' fancy, with mutual funds investing a whopping Rs 735 crore in such units in the first six months of 2020, nearly three-fold jump from the year-ago period. However, mutual funds' investment in infrastructure investment trusts (InvITs) dropped by 8 per cent to Rs 4,968 crore in the period under review, data with the Securities and Exchange Board of India (Sebi) showed.
- Investment by fund houses in REITs jumped from a mere Rs 7 crore in January 2019 to Rs 71 crore in January this year and further increased to Rs 402 crore in June 2020. Fund managers infused Rs 735 crore in real estate investment trusts (REITs) in January-June 2020 compared to Rs 249 crore in the first six months of last year. The investment in InvITs rose from Rs 611 crore in January 2019 to Rs 908 crore in the same month this year and thereafter to Rs 968 crore in June 2020.
- As compared to last year, fund managers' investment in InvITs declined to Rs 4,968 crore in January-June 2020 from Rs 5,400 crore in the first six months of 2019. Ever since Sebi introduced InvITs, markets witnessed the listing of two public InvITs -- IRB InvIT Fund and India Grid Trust.
22078. Mauritius-based PE firm invests ₹250 crore in Shriji Polymers
Make in India / Atmanirbhar
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Investment in Bharat by companies of other countries
English
India
Mint
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- Malaysia-based private equity firm Creador, managing assets worth $1.5 billion, has invested ₹250 crore in Indian pharmaceutical packaging firm Shriji Polymers (India) Ltd.
- Shriji’s product portfolio includes high-density poly ethylene bottles, polypropylene caps--both continuous thread and child resistant--and other speciality plastic products such as derma bottles, tablet applicators, dosing cards and self-administered metered dosing devices.
- The company's manufacturing facilities are located in key markets across India, the USA, China The deal signifies the interest of private equity players in this pharma allied industry of packaging, given India’s cost advantage and policy makers’ efforts to boost domestic manufacturing.
- “We will continue to make significant investments in India supported by the recent government initiatives of 'Make in India' catering to domestic and exports," Anand Bangur, founder and managing director of Shriji said.
22079. Venture Catalysts raises Rs 100 cr for investing in over 100 startups
Make in India / Atmanirbhar
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Investment in Bharat by companies of other countries
English
India
Business Standard
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- Angel investor Venture Catalysts (VC) said it has raised Rs 100 crore for a new fund which will invest in over 100 Indian startups. The '9unicorns Accelerator Fund' of VC is built along the lines of Silicon Valley's accelerator fund Y Combinator's strategy which has over 2,000 investments.
- This is the first close of Rs 100 crore or USD 14 million for the fund, which will focus on identifying startups early and would prefer to be the first external investor in a company's journey, a company statement said.
- VC's founding team members Apoorva Ranjan Sharma, Anuj Golecha, Anil Jain and Gaurav Jain are the founders for the fund, it said.
22080. [Funding Alert] Solar SaaS startup SenseHawk raises $5.1M in Series A round led by Alpha Wave Incubation
Make in India / Atmanirbhar
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Investment in Bharat by companies of other countries
English
India
Your Story
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- SenseHawk, a SaaS startup that helps customers develop, build, and operate solar and other infrastructure sites with insights, has raised $5.1 million in Series A funding.
- The investment round was led by Alpha Wave Incubation (AWI), a $300 million venture fund managed by Falcon Edge Capital, a leading global alternative asset manager, and backed by ADQ. Existing investor SAIF Partners also participated with a follow-on investment.
- The funding will be used by SenseHawk for product development and to expand teams in North America, Middle East, North Africa.