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Muthoot FinCorp Limited announces XVI Tranche IV series of NCDs, aims to raise Rs.360 crore

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  Muthoot FinCorp Limited (MFL or “ Company ”) the flagship company of 137-year-old Muthoot Pappachan Group (Muthoot Blue) has announced XVI Tranche IV series of secured, redeemable, non-convertible debentures (“NCDs”) to raise an amount aggregating to ₹360 crore which is within the shelf limit of ₹1100 crore. The tranche IV issuance amounts to ₹100 crore with a green shoe option of ₹260 crore aggregating up to ₹360 crore (“Tranche IV Issue”). The Tranche IV Issue with a face value of ₹1000 has been open to public from 10 th April 2024 till 25 th April 2024 subject to an early closure as may be approved by our Board of Directors or a duly constituted committee thereof of the Company, and subject to relevant approvals, in accordance with the Regulation 33A of the Securities and Exchange Board of India (Issue And Listing Of Non-Convertible Securities) Regulations, 2021.   The NCDs under the Tranche IV Issue are being offered with maturity/tenure options of 26 months, 38 months, 60 mo
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Free Bike Taxi Rides in Tamil Nadu during General Elections 2024

Chennai, 17, April, 2024: In a concerted effort to bolster the democratic process in the country, Rapido, India's leading commute app, has embarked upon its National Duty with the launch of the " ‘KadamaiKaanaSavaari’ initiative. This initiative is being rolled out during the Indian General Elections 2024 with the support of the Tamil Nadu State Election Commission. As part of this historic endeavor, Rapido pledges to provide free bike taxi rides to voters across TamilNadu, encompassing major cities such as Chennai, Coimbatore, Madurai, Tiruchirapalli, and Salem on 19 th April, 2024. On election day, voters can avail free rides on the Rapido app using the code ‘VOTENOW’ and exercise their democratic right. The initiative aims to facilitate residents' voting rights and ensure a more inclusive electoral process. This concerted effort aligns with Rapido's nationwide campaign, deploying over 10 lakh captains across more than 100 cities to provide free rides on electio
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Aditya Birla Capital announces the launch of omnichannel ABCD D2C platform to significantly scale up its digital transformation journey

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  Aditya Birla Group’s flagship diversified financial services conglomerate, Aditya Birla Capital (“ABC”) has embarked on a journey of transformation, charting strong growth over the past 2 years. Building on this momentum, Aditya Birla Capital announced the launch of its omnichannel D2C platform ABCD making “Everything Finance as Simple as ABCD ”. Through this platform, ABC targets to add 30 million new users over the next 3 years. The launch marks a pivotal moment in its ambitious journey to drive growth and leadership and become a full-stack financial services provider.   Announcing the launch of the platform, Mr. Kumar Mangalam Birla, Chairman Aditya Birla Group said, “Our financial services business, Aditya Birla Capital, is now one of the fastest growing businesses within the group and has emerged as a key growth engine.   I see this as a ‘coming of age’ moment for Aditya Birla Capital. In the arc of Aditya Birla Capital’s strong and steady progress, the ABCD D2C platf
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Maithree Collaborates with CaratLane to Launch Assisted Employment Scheme for Individuals with Disabilities

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Maithree, a pioneering organization committed to empowering individuals with intellectual and developmental disabilities (PwIDDs), launched their first of its kind, ‘Assisted Employment Scheme’ in partnership with CaratLane, today. The initiative aims to foster inclusivity and provide livelihood security for PwIDDs by offering guaranteed earnings and productivity-based incentives. Mr. Bhaskar Bhat, Director of Tata Sons, and Mr. Mithun Sacheti, Founder of CaratLane, graced the occasion as Chief Guest and Guest of Honor respectively and participated by Mr.L.Lakshman, Chairman Emeritus, Mr.G.Srikanth, Chief Financial and Information Officer, Five-Star Business Finance For over three decades, Maithree has championed the cause of PwIDDs, recognizing their untapped potential in a conducive work environment. Inspired by the government's MGNREGA policy, Maithree introduces a scheme aimed at providing guaranteed earnings and incentives based on productivity to ensure livelihood security fo
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Ambuja Cements signs definitive agreement to acquire a 1.5 MTPA Grinding Unit at Tuticorin, Tamil Nadu at a value of Rs. 413.75 Crores

Ambuja Cements, the cement and building material company of the diversified Adani Portfolio, signs definitive agreement to acquire My Home Group's 1.5 MTPA Cement Grinding Unit in Tuticorin, Tamil Nadu. The acquisition estimated at a total value of Rs. 413.75 Crores through internal accruals will aid in enhancing the coastal footprint across southern markets of Tamil Nadu and Kerela. The total cement capacity of Adani Group stands at 78.9 MTPA. The asset spread across 61 acres of land, conveniently located near the Tuticorin Port with a long-term fly ash agreement will be value accretive from the beginning. Ambuja Cements will leverage the coastal footprint and state-of-the-art marine infrastructure and equipment , ensuring that the best quality products are delivered. This acquisition provides access to the southern market customers with an opportunity to experience and instil their trust in one of the most iconic and trusted brands – Ambuja Cement. Furthermore, the limited av
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JSW One Platforms appoints Dr Ranjan Pai as Independent Director on its Board

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    JSW One Platforms, part of US$23 billion JSW Group has appointed Dr Ranjan Pai as an Independent Director on its Board. Dr Pai brings a wealth of experience and expertise in education, healthcare, entrepreneurship, and investment, which aligns with JSW One Platforms’ commitment to drive innovation and value creation for all its stakeholders. In his role as an Independent Director at JSW One Platforms, Dr Ranjan Pai will provide strategic guidance and insights drawn from his experience. His deep understanding of the education, healthcare sectors, coupled with his experience of investing and guiding Tech start-ups in India will be invaluable in shaping JSW One Platforms’ future and creating long-term value for its stakeholders.   Dr Ranjan Pai is an educationist, entrepreneur, institution builder and investor. He serves as the Founder and Chairman of the Manipal Education and Medical Group (MEMG), an Indian conglomerate encompassing education, healthcare, research, and private inve
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INAUGURATION OF A NEW HAEMODIALYSIS MACHINE FOR THE REKHA MEMORIAL RENNY ABRAHAM AMBATTUR ROTARY TANKER DIALYSIS UNIT

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  TANKER (Tamilnad Kidney Research) Foundation  is a registered non-profit charitable Organization started in June 1993 with the aim of helping under-privileged patients with kidney disease by giving Subsidized Dialysis and one time financial help for medication, investigation and transplantation and spread awareness about kidney disease. TANKER cares for those, the underprivileged, who suffer with kidney problems of any kind, reversible or terminal, regardless of caste, creed, sex or religion.   TANKER runs 14 dialysis units, 11 in Chennai and one each in Madurai, Vellore and Tiruppur. The Ambattur dialysis unit is supported by the Ambattur Rotary Club and Hospital, the CMCHIS and many valuable donors.    The new dialysis machine has been donated by  Prakash Foods & Feed Mills Private Limited .  Dr. D.V.R. Prakash Rao,  Chairman and Managing Director ,  Prakash Foods & Feed Mills Private Limited   inaugurated the machine.  He donated this machine in memory of his wife Mrs Bala
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