Bengaluru, December 03, 2020: Godrej Locks & Architectural Fittings and Systems, the 123-year-young leading manufacturer of innovative locking solutions and architectural fittings last month announced Golden Festival Offer, an engaging initiative, which gives consumers a chance to get gold vouchers worth up to INR 50,000. The company is set to announce more than 100 winners who won gold vouchers from across India. These winners were chosen through a lucky draw on a weekly basis.
The winners are from Mumbai, Kalyan, Baramati, Kankroli, Jodhpur, Bikaner, Udaipur, Degana, Guwahati, Ahmedabad, Vadodara, Bengaluru, and many more cities. All the winners will get gold vouchers from Kalyan Jewellers ranging between INR 5,000- 50,000. In addition to the gold voucher winners, Godrej Locks will also announce close to 1000 winners from across the country and they will be rewarded with shopping vouchers.
Golden Festival Offer was announced to drive customer delight and provide them something extra they could look forward to from the brand. The consumers simply had to buy any Godrej range of products including locks, architectural fittings and kitchen systems with minimum purchase value of INR 2000 in one single GST invoice to be eligible to participate in this exciting offer. Golden Festival Offer helped in building brand awareness and increasing loyalty among the key consumers. This added to people’s spirit during the festive season and generated interest even during the pandemic.
Godrej Locks has a variety of offerings, from the timeless Nav-Tal padlock, they have evolved to high-end holistic safety solutions that today safeguard millions of homes and offices. This includes rim locks, mortise locks and also digital locks. The company has a range of digital locks called Spacetek and Advantis which have superior fingerprint technology and also a RFID feature. It also has a range of architectural and kitchen fitting products including door closers, floor springs, ergo boxes, corner solutions, etc.
The aerial picture shows an engineering marvel wherein Bangalore Metro Rail Engineers and NICE Toll Road Engineers worked in tandem to ensure seamless and safe launch of 4 x 50 Meters Girders over NICE Peripheral Toll road at Kanakapura Road Junction and Mysore Road Junction with minimal traffic disruption or stoppage. The launch of these girders signal the completion and operationalization of Bangalore Metro Rail Extension lines on these Routes.
· Price band fixed at Rs 59 to Rs 60 per equity share of face value of Rs. 10 each
· Bid/ Offer period to remain open from Wednesday, 2nd December, 2020 to Friday, 4th December 2020
Mumbai, December 1, 2020: Burger King India Limited (the “Company’), one of the fastest growing international QSR chains in India during the first five years of operations based on number of restaurants. (Source: Technopak), will open the Bid/ Offer period in relation to its initial public offer of equity shares of face value of Rs. 10 each (“Equity Shares” and such initial public offer, the “Offer”) on Wednesday, December 2, 2020. The Bid/ Offer period will close on Friday, December 4, 2020. The price band of the Offer has been fixed at Rs 59 to Rs 60per Equity Share.
The initial public offering comprises of a fresh issue of Equity Shares aggregating up to Rs. 4,500 million* by the company (“Fresh Issue”) and an offer for sale of up to 60,000,000 Equity Shares by QSR Asia Pte. Ltd. (“Promoter Selling Shareholder”) (“Offer for Sale”, and together with the fresh issue, “Offer”).
The company has undertaken a pre-ipo placement by way of a: (i) Rights Issue of 1,32,00,000 equity shares to the Promoter Selling Shareholder for cash at a price of Rs. 44 per equity share
aggregating to Rs. 580.80 million pursuant to the resolution of the board dated May 23, 2020; and (ii) Preferential allotment of 15,712,820 Equity Shares to AIL for cash at a price of Rs. 58.50 per equity share aggregating to Rs. 919.20 million, in consultation with the BRLMs, pursuant to the resolution of the board dated November 18, 2020. The size of the fresh issue of up to Rs. 6,000 million has been reduced by Rs. 1,500 million pursuant to the pre-IPO placement, and accordingly, the fresh issue size is up to Rs. 4,500 million.
Bids can be made for a minimum of 250 Equity Shares and in multiples of 250 Equity Shares thereafter.
The Offer is being made in terms of Rule 19(2)(b) of the Securities Contracts (Regulation) Rules, 1957, as amended (“SCRR”) read with Regulation 31 of the Securities and Exchange Board of India (Issue of Capital and Disclosure Requirements) Regulations, 2018, as amended (“SEBI ICDR Regulations”). This Offer is being made through the Book Building Process in accordance with Regulation 6(2) of the SEBI ICDR Regulations wherein not less than 75% of the Offer shall be available for allocation on a proportionate basis to Qualified Institutional Buyers (“QIBs”) (“QIB Portion”), provided that the Company and the Promoter Selling Shareholder in consultation with the BRLMs may allocate up to 60% of the QIB Portion to Anchor Investors on a discretionary basis. One-third of the Anchor Investor Portion shall be reserved for domestic Mutual Funds, subject to valid Bids being received from the domestic Mutual Funds at or above the Anchor Investor Allocation Price. 5% of the QIB Portion (excluding the Anchor Investor Portion) shall be available for allocation on a proportionate basis to Mutual Funds only, and the remainder of the QIB Portion shall be available for allocation on a proportionate basis to all QIB Bidders (other than Anchor Investors), including Mutual Funds, subject to valid Bids being received at or above the Offer Price. If at least 75% of the Offer cannot be Allotted to QIBs, the Bid Amounts received by the Company shall be refunded.
Further, not more than 15% of the Offer shall be available for allocation on a proportionate basis to Non-Institutional Bidders and not more than 10% of the Offer shall be available for allocation to Retail Individual Bidders in accordance with the SEBI ICDR Regulations, subject to valid Bids being received from them at or above the Offer Price. All Bidders, other than Anchor Investors, are mandatorily required to participate in the Offer through the Application Supported by Blocked Amount (“ASBA”) process by providing details of their respective bank accounts (including UPI ID in case of RIBs, if applicable) which will be blocked by the Self Certified Syndicate Banks (“SCSBs”) to the extent of the respective Bid Amounts. Anchor Investors are not permitted to participate in the Anchor Investor Portion through the ASBA Process.
The Net Proceeds from the Fresh Issue are proposed to be utilised for funding roll out of new Company-owned Burger King Restaurants by way of: (i) Repayment or prepayment of outstanding borrowings of the Company obtained for setting up of new Company-owned Burger King Restaurants; and (ii) Capital expenditure incurred for setting up of new Company-owned Burger King Restaurants, and for general corporate purposes.
The Equity Shares offered in this Offer are proposed to be listed at both BSE Limited (“BSE”) and the National Stock Exchange of India Limited (“NSE”, together with BSE, the “Stock Exchanges”) post the listing. For the purpose of the Offer, BSE is the Designated Stock Exchange.
Kotak Mahindra Capital Company Limited, CLSA India Private Limited, Edelweiss Financial Services Limited and JM Financial Limited are the Book Running Lead Managers to the Offer.
All capitalized terms used herein and not specifically defined shall have the same meaning as ascribed to them in the Red Herring Prospectus dated November 25, 2020 (“RHP”).
On the occasion of the holiday season IME plans to host a museum visit with a special dinner on Every Saturday in the month of December 2020 from 1 pm to 9 pm.
*Four corporate executives with over 100 years of collective experience in top organisations take plunge in business as entrepreneurs *On a mission to support PM’s vision of ‘Make in India’ by starting the manufacturing infrastructure
Bengaluru, November 2020 : While the world was battling against the Covid 19 pandemic since the month of April this year, four corporate executives were tirelessly working on launching their own company into Decorative & Commercial Lighting segment in India. Deepavali in India is known to be the “festival of lights”. Subsequently, it was an apt period to launch Mimaamsa – India’s first-of-its-kind premium Decorative Lighting brand by Decorative Innovation Technologies India Pvt Ltd (DITIPL). DITIPL had to confine itself to launch the ‘Mimaamsa’ brand digitally by sharing the Product Portfolio having more than 5000+ products with 24 Franchisees, who are known as ‘Premium Project Associates’ in cities like Mumbai, Delhi, Bengaluru, Pune, Nashik, Chennai, Hyderabad, Kolkata, Kochi, Ludhiana amongst others. DITIPL is positioned as a highly innovative decorative and technical Lighting company present in both formats – Online and through Outlets. Mimaamsa range is a ‘premium decorative lighting and artefacts’ brand that has the USP to deal in complete and complex range of materials from simple iron metal to high lustre crystal pieces. On the organisational front, DITIPL’s mission is to build an organisation ignited with passion & domain expertise in providing premium designer lighting solutions in the Indian market. It wishes to create an enriching value proposition to its Distributors who will be professionally trained & equipped to deliver best-in-class service to satisfy the customers. Finally, it is going to be a technology-backed enterprise with state-of-the-art ERP and CRM solutions in place in order to meet the distributor & end customers’ requirements. Amit Seth, Managing Director, DITIPL said, “The lighting sector has been still considered ‘unorganised’ because of a lot of pain points like – high dependence on imports from China, lack of product options and presence of strong Pan-India brand, limited availability of manufacturing capabilities to brand reliability and sustainability. At DITIPL, our vision is to create a complete product range from premium decorative lighting fixtures to technical and commercial lighting with impeccable capability to service art-effects to match the original design intent of our partners like Lighting Designers, Architects and Interior Designers etc.” As a company, DITIPL has a strong emphasis on Customer Education through its ‘Training & Development’ initiative and plans to have highly trained team of Distributors across India to understand the client requirement and provide suitable and efficient solutions. DITIPL plans to grow its Distributor network to 100 in the next 12 -18 months. Says Deepak Kanulkar who drives the Government Projects & Brand Initiatives of DITIPL, “India is witnessing ‘exponential growth’ in the various areas of public infrastructure ecosystem like Smart Cities, Museums, Sports Stadiums, River fronts, Parks, Airports etc. We at DITIPL are committed to contribute in this endeavour of ‘nation-building’ by supplying high quality international brands along with our own products that will help in beautifying the public infrastructure across all states and union territories of India.”
As a business strategy in premium decorative segment, DITIPL aims to promote Mimaamsa products in sectors like Commercial, Retail, Restaurant, Hospitality, Hi-end Residential, Outdoor & Public Spaces. Meanwhile, the Company as mapped it target overall business segments very carefully and will focus on Airports, Sports infrastructure, Museums, Parks, River Fronts, Heritage Sites & Religious Structures, Roads & Bridges, Ports etc in addition to outdoor and indoor LED screens. The management team at DITIPL is represented by two ex-financial services professionals Amit Seth and Harideep Salwan, who have represented financial services institutions like HSBC, AIG, HDFC, ICICI amongst others; Ashish Narang who comes with over 25 years of experience in Lighting having worked with brands like Clipsal, Crompton Greaves, Osram etc and Deepak Kanulkar who has spent over 27 years in Strategic Communications, PR & Public Affairs working for organisations like Bombay Chamber, Cipla, Hinduja, Coca-Cola India, Tata AIG, GRI etc. DITIPL currently has its offices in Mumbai, Bengaluru and Delhi.
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