Sugar exports may drop 24% pc this year due to logistics issues: Trade body AISTA
New Delhi: India's sugar exports may drop over 24 per cent to around 4.3 million tonnes in the current marketing season 2020-21, due to logistics constrains and less chances of shipments to Iran, trade body All India Sugar Trade Association (AISTA) said on Thursday.
BHEL Awarded order for Main Guns of Frontline warShips
New Delhi: In a major boost to Defence Production under the ‘Make in India’ initiative and to achieve self-reliance in the critical field of Defence equipment, Indian Navy has placed an order on Bharat Heavy Electricals Limited (BHEL) for supply of two numbers Super Rapid Gun Mounts (SRGM), main guns standardised for all Warships of the Indian Navy.BHEL has indigenised these Guns and has established dedicated, intricate manufacturing and inspection facilities at its Heavy Electrical Equipment Plant, Haridwar for production, installation & commissioning and lifecycle support of these Guns.
RailTel IPO to open on Feb 16
State-owned information and communications technology infrastructure provider RailTel Corporation of India on Thursday announced to launch its maiden public offer for subscription on February 16. The price band for the public issue has been fixed at Rs 93-94 per share, which is 9.30-9.40 times the face value of equity shares. The offer will close on February 18. The initial public offer is a complete offer for sale of 8,71,53,369 equity shares by the government. Of which, 5 lakh equity shares may be reserved for the company’s employees. The offer will give Rs 819.24 crore at higher price band to the government. Hence, the company will not get any money from this offer. Investors can bid for a minimum 155 equity shares and in multiples of 155 equity shares thereafter, as per a statement from the Railtel.
PROJECT TAALEEM LAUNCHES GADGET DRIVE
New Delhi: Enactus DCAC is a not-for-profit student body organization that aims to work for the upliftment of the underprivileged community through the power of social entrepreneurship. Under one of its flagship projects, Taaleem, we seek to revolutionize refugee children by providing primary education through an Active Story Based Curriculum. To ensure the children’s education is not hampered during the ongoing pandemic, we came up with the idea of a Gadget Drive! This will ensure that these gadgets reach the children who need it the most and can use it to access their studies. Gadgets can include old mobile phones, laptops or tablets which are in working condition.
Bharat Pe raises $108 mn in funding
New Delhi: Fintech major BharatPe on Thursday said it has raised USD 108 million (over Rs 786 crore) in funding, led by existing investor Coatue Management, at a valuation of USD 900 million. The company has raised USD 90 million in primary fund raise and also ensured secondary exit for its angel investors and employees for a total amount of USD 18 million, a statement said.