City Pune Financial News

Reliance Retail Ventures Ltd, the retail business of Mukesh Ambani’s Reliance Industries Ltd, is looking to raise Rs3,048 crore through an infrastructure investment trust (InvIT) of its warehousing and logistics infrastructure assets, shows a draft document filed with Sebi. ET first reported on 12 April that Reliance was planning to monetise the warehousing and logistics assets of its retail business through an InvIT and that the group had set up a trust under the name of Intelligent Supply Chain Infrastructure Trust for this purpose. Reliance Retail will hold a minimum of 25% units of the trust and balance will be sold to incoming investors. Of the total issue proceeds of Rs3,048 crore, around Rs100 crore will be used for acquiring equity shares of a special purpose vehicle (SPV) created to hold the warehousing assets, while a sum of Rs2,928 crore will be used to provide a loan to the SPV for acquisition of the warehousing and related logistics assets. The initial proposal is to acquire warehouse space of 12.77 million square feet and related logistics infrastructure for a consideration of Rs4,261 crore. Additionally, the trust has also entered into a lending agreement with Sikka Ports and Terminals Ltd, a Reliance group entity, to avail a rupee term loan of Rs2,122 crore, which will also be utilised towards acquisition of the warehousing assets. The portfolio of assets will comprise 64 warehouses spread across 34 cities across India including key warehousing markets such as Delhi NCR, Mumbai, Bengaluru, Chennai, Kolkata, Ahmedabad, Pune and Hyderabad.

startup Kombai has raised $4.5 million in a seed round led by Stellaris Venture Partners and Foundation Capital, the Pune-based company said on Tuesday. The funding also saw participation from some chief technology officers and software startup executives as angel investors. Kombai, founded by two former Mindtickle senior executives, said it will use the capital to continue investing in research and development, accelerate improvements to its base models, build compatibility with a range of libraries and frameworks used by developer teams and elevate the developer experience around the product. The company builds new artificial intelligence models that can understand and code user interface (UI) designs like humans. It is also set to launch its public research preview on Wednesday. With a mission to make frontend development more efficient for the 5 million frontend and 15 million fullstack developers around the world, Kombai lets developers with design files get production-quality UI code with just one click per component. The UI code can then be downloaded or copied into integrated development environments, modified and incorporated in codebases. User experience (UX) has become increasingly important for businesses, because of which user interfaces have become more and more sophisticated, leading to increased demand and complexity of frontend development, Kombai cofounder and CEO Dipanjan Dey said. “Developers still spend a significant amount of their working time, ranging from 25% to 75%, on procedural code such as styles (CSS), DOM (HTML), and framework-specific boilerplate,” Dey said.

Shapoorji Pallonji Real Estate on Tuesday said it has signed Bollywood actor Shahid Kapoor and his wife Mira Kapoor as the brand ambassadors for one of its projects in Pune.

IPO. It received Sebi's observation letter on August 11, an update with the regulator showed on Tuesday. The company issued 16.7 lakh shares at a price of Rs 735 apiece, according to a public announcement. Investors participated in the pre-IPO round include SBI Magnum Children's Benefit Fund, SBI Optimal Equity Fund, SBI Healthcare Opportunities Fund, Neuberger Berman Emerging Markets Equity Fund, Neuberger Berman Europe Holdings LLC and Neuberger Berman Strategic India Equity Master Fund Holdings Ltd. In addition, High Conviction Fund — Series 1, Ashoka India Equity Investment Trust PLC, Think India Opportunities Master Fund LP and DC Ikka Ltd too participated. In May, Jupiter filed its preliminary papers with the market regulator Sebi to raise funds through an IPO. The issue consists of a fresh issue of equity shares worth up to Rs 615 crore and an offer-for-sale (OFS) of up to 44.5 lakh equity shares by promoter group and other selling shareholders. With the completion of the pre-IPO placement, the fresh issue size will now be reduced. Proceeds from the maiden public issue will be utilised for payment of debt and general corporate purposes. The hospital chain operates in Thane, Pune and Indore under the Jupiter brand with a total bed capacity of 1,194 as of December 2022.Jupiter Hospitals, which has a strategic focus on the Western India healthcare market, is in the process of developing a multispecialty hospital in Dombivli, Maharashtra, being designed to accommodate over 500 beds. After making a loss in the financial year 2020-21, the company reported a profit of Rs 51.13 crore in 2021-22. Its revenue from operations jumped 51 per cent to Rs 733.12 crore in FY22 from Rs 486.16 crore in FY21. For the nine months

Rakesh Sharma, Executive Director, Bajaj Auto, says “the export opportunity is just unfolding. We are far from seeing it getting exhausted. The scope for two-wheelers in parts of Latin America and Africa is enormous. But participating in international business is not for the faint hearted. It is not for the trader. This is for the manufacturer. This is for people who have a genuine commitment to global play. That is what Bajaj is all about. I would say the emerging markets story is far from exhausted. It holds a lot of potential still, and we are very optimistic about it. But we do not think it is going to play out very rapidly.”We have always looked at Pune as the go-to city as a manufacturing space, especially for auto. What is so special about Pune that makes it perhaps the Detroit of India?Pune is quite a delightful city.

MUMBAI : The onion crisis in India could intensify further as the Agricultural Produce Market Committee (APMC) constituents in Nashik, home to the largest onion market in Asia, have declared an indefinite strike, two days after the Centre imposed a 40% export tax to pre-empt a price spike, following skyrocketing tomato prices on low supply. Retail prices of onion have risen from ₹25-30 a kilogramme (kg) to ₹35-40 kg in parts of Mumbai over the past week and could rise further if the strike spreads to other onion-producing centres of Maharashtra as supply would be hit and due to hoarding by some large traders, according to a Mumbai-based exporter.

Bharat Forge share price touched new 52-week high on Monday's trading session after the company's defence arm, Kalyani Strategic Systems Ltd received two export orders worth ₹850 crore. Bharat Forge share gained over 2% on Monday's session. Bharat Forge stock opened at ₹978.85 apiece on BSE, and hit intraday high of ₹991.30 and low of ₹967.80.

₹10 crore, the Mumbai Police's Economic Offences Wing (EOW) registered an FIR against 4B Networks Pvt Ltd company's senior official Rahul Yadav and Sanjay Saini. The complaint was filed by Rajasthan-based Vikas Om Prakas Noval. Vikas is the director of Interspace Communication Private Limited, the EOW official told PTI.

Congress Party (NCP) president Sharad Pawar on Sunday claimed that his nephew Ajit Pawar and others, who have formed a government with BJP in the state, had done so «to avoid going to prison» as they had Enforcement Directorate (ED) probes against them. «For some reason or other, they were being probed by the ED… They were told, 'we will not proceed with the cases, if you join us but if you don't, then you will be somewhere else'.

India’s real estate started its upwards journey post the Covid-19 mayhem in 2021 itself. By the end of 2022, the country’s second largest employment generating sector had gained momentum as reflected in key performance indicators, as buyer sentiment vis-à-vis the sector changed in the aftermath of the pandemic. In that sense, the year 2023 started on a firm footing for the sector that contributes greatly to India’s overall growth.

PTI, Anarock affirmed that the real estate developers are aiming at business expansion and tapping into the high demand for residential and commercial properties in the post-pandemic period. "Our latest research indicates that as many as 59 separate land deals for over 2,018 acres have been closed across the country between January to August 2023," Anuj Puri, Chairman of Anarock, said. The real estate consultant added that the land parcels are increasingly being used for setting up manufacturing units and hospitals.

Economic Times on 19 August. Identified as Vikas Om Prakas Noval, the vendor had filed the FIR under sections 406, 409, 420, and 34 of the Indian Penal Code.

airport. The official had been slated to operate the airline's Nagpur-Pune flight and collapsed while waiting in the security hold area.

electric vehicle market in India. The company anticipates that its electric vehicle (EV) lineup, both existing and future models, will constitute a quarter of its total car sales within the next three years, marking a substantial increase from the current figures of three to four percent. Mercedes-Benz recently introduced its new petrol/diesel SUV, the GLC, in Hyderabad.

Mercedes-Benz is expecting its EV portfolio (present and future) to make up 25 per cent of its total car sales in the next three years, growing from the current levels of three to four per cent. Mercedes-Benz on Thursday launched the GLC, its new petrol/diesel SUV, in Hyderabad. Managing Director and CEO of Mercedes-Benz India Santosh Iyer said the automaker is planning to launch three to four EVs in the coming 12 to 18 months in India.

real estate investments across the country. Attendees will have the opportunity to meet one-on-one with the USIF Team and a seasoned immigration attorney from Donoso & Partners LLC, who has substantial experience with EB-5 matters.

real estate consultant released its 'Affordability Index' for the top eight cities for the first six months of the 2023 calendar year. The index tracks the EMI (Equated Monthly Instalment)-to-income ratio for an average household. It indicates the proportion of income that a household requires, to fund the EMI of a housing unit in a particular city.

Alliance (NDA) at the Centre. Clarifying on the meeting, Sharad Pawar has said, “It was a family meeting with Ajit Pawar. I did not go to the media talking about the meeting." The meeting between NCP founder Sharad Pawar and his nephew and Maharashtra Deputy Chief Minister Ajit Pawar on August 12 at businessman Atul Chordiya’s residence in the Koregaon Park area had sent political circles abuzz.

ALSO READ: Ajit Pawar ‘not big enough’ to offer a role to Sharad Pawar: Sanjay Raut In the meantime, Supriya Sule reacted to the claim, saying no one has approached her with an offer of a portfolio. Though she said the party leaders should introspect on why they were making such statements. On being asked about an offered Cabinet post by BJP, NCP leader Supriya Sule said, "No one has offered me anything nor had a conversation with me...You should ask them (Maharashtra Congress leaders) why they are giving such statements.

Homegrown two- and three-wheeler major Bajaj Auto may have taken a cautious approach to the electrification megatrend, but now it seems all set to make a mark in the electric three-wheeler space as well.

Cape Town: Homegrown automaker Mahindra & Mahindra is looking to tap the 2-million unit market for mid-sized pick-ups with a new global lifestyle pick-up truck that will first be launched in its key existing export markets including South Africa, Australia and New Zealand, Africa, the Middle East and South & Central America, the company announced during its global concept showcase in Cape Town on Tuesday. Mahindra is aspiring to snag a double-digit market share in these countries, where it has a rapidly growing presence, albeit with a single-digit share in the respective markets.