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Business Wire India - Multimedia: Digest for February 18, 2023

Business Wire India - Multimedia

Multimedia By Business Wire India
Business Wire India

Sealmatic India Ltd, a leading mechanical seal manufacturing company, has launched its maiden Initial Public Offering (IPO) from February 16th to February 21st, 2023 (Anchor). The IPO has opened today and has got 100% subscription from Anchor Investors, which in turn has generated a good buzz in the financial world, with analysts predicting a strong response from investors. Sealmatic India Ltd is one of the largest mechanical seal manufacturing companies in India, serving a wide range of industries including oil & gas, nuclear, thermal, refinery, chemical, petrochemical, pharmaceutical, pulp & paper, marine, aerospace and many other applications.

The company commenced its business in 2012 at Mumbai, Maharashtra and has since grown into a dominant player in the global mechanical seal market. Sealmatic India's products are widely used in critical applications across various industries and are exported to over 45 countries including Europe and USA. The company's manufacturing facilities are equipped with state-of-the-art machinery and are capable of producing high-quality mechanical seals that meet international standards.

Sealmatic India's IPO is expected to be a major success, owing to the company's strong fundamentals and growth prospects. The company has consistently recorded impressive financial results over the years, with a strong track record of profitability. In the fiscal year 2022, Sealmatic India reported a revenue of INR 42.76 crores, with a net profit of INR 8.41 crores. The company's revenue has been growing over the last five years, and its net profit has also grown in the same period.

The IPO will comprise a fresh issue of 18,50,000 shares and an offer for sale (OFS) of 6,49,600 shares by the company's promoters. The proceeds from the fresh issue will be employed to fund the company's purchase of plant & machinery, product development, marketing and post-sales support, provisions and contingency, working capital and general corporate purposes.

Investors are expected to be attracted to Sealmatic India's IPO due to the company's strong fundamentals, growth prospects, and the positive outlook for the mechanical seal market in India and globally. The Indian mechanical seal market is expected to grow over the next many years, driven by increasing demand from industries such as oil & gas, nuclear, thermal, refinery, chemical, petrochemical, pharmaceutical, pulp & paper, marine, aerospace and many other applications. Sealmatic India is well positioned to capture this growth, given its strong brand recognition, diversified product portfolio, and established global customer base.

Sealmatic India's IPO has witnessed a good subscription from Anchor Investors, with strong demand from institutional investors, high net worth individuals (HNIs), and retail investors. The company has already received support from prominent QIBs investing in the IPO.

In conclusion, Sealmatic India's IPO is one of the most anticipated SME public offerings of 2023, and for good reasons.

Wurfel Launches New Studio in Kokapet, Hyderabad

Friday 17 February 2023 04:30 AM UTC+00
Business Wire India

Würfel is a premium modular kitchen brand based in India that provides top-notch European products. The brand has received multiple awards for six consecutive years as the "Best Modular Kitchen Brand" from Times Business Awards. "Most Innovative Kitchen Brand" by India Kitchen Congress and "The Most Valuable Interior Brand" from IBARC Asia World Signature Awards.
 
The brand offers a wide range of products including kitchens, wardrobes, TV units, and vanities all made from high-quality materials sourced from Europe. The products are designed to provide maximum space efficiency, comfort of use, and a sophisticated European touch to Indian homes. The company has recently launched a studio in Yelahanka, Bengaluru on 4th February'23, which is supposedly the seventh studio in the city.
 
The new studio will provide a unique and immersive experience to the visitors. "We are thrilled to launch our new studio and bring a new level of creativity and innovation. This new studio will allow us to expand our offerings and reach a wider audience, and we can't wait to share our passion for modular kitchen industry with the world."
 
Würfel's Product Portfolio
 
Kitchens: Würfel offers modular kitchens made of base cabinets, wall cabinets, and tower units made with high-quality materials like particle board, MDF, and synchronized plywood. They offer various finishing options such as laminate, poly-lacquer, glass, and El Lucido for a functional and visually appealing kitchen design. The kitchens are designed to improve the cooking experience.
 
Wardrobes: Würfel's wardrobes offer a practical solution to organize belongings and are made from high-quality materials sourced from Europe. They come in a variety of designs and use PUR glue technology for durability. The wardrobes are designed to meet individual requirements and lifestyles.
 
Vanity: Würfel vanity units are known for their stylish design and European charm. They are a popular choice for homeowners in India who want to add a touch of elegance to their bathroom. With a focus on both form and function, these units offer a combination of style and practicality, making them a great addition to any bathroom.
 
TV Units: Würfel's TV units are not just a stylish addition to a living room, but they also provide ample storage space for organizing belongings. With the option to choose between a floating or freestanding design, customers can select the one that best fits the theme of their living room. This makes it easier for them to complement their existing décor and create a cohesive look in their home.
 
For more information, please https://www.wurfel.in/.
Business Wire India

K T Rama Rao, Hon'ble Minister, IT, Industries, MA & UD, Telangana, launched the first AIF India Chapter in Hyderabad this past evening, along with philanthropists, patrons, and industry leaders gathered, to make greater headway in the state, in positively impacting those at the margins.
 
The Hyderabad Chapter is a voluntary body of prominent & respected individuals with proven leadership abilities in business and philanthropy, coming together to represent AIF and help build strong and sustainable partnerships in the state.
 
With the continuous support and encouragement of the government, corporates, and civil society organizations, AIF has been working across 10 districts in Telangana over the past several years, under its flagship education and livelihood programs, reaching out to low-income and vulnerable communities. The Chapter will leverage AIF's solutions to social inequity and poverty and galvanize the outreach and impact in the state by bringing in deeper engagements and large-scale projects.
 
Congratulating AIF and the cohort on this philanthropic congregation, K T Rama Rao, Hon'ble Minister, Information Technology, Industries & Commerce, Municipal Administration & Urban Development, Telangana said, "American India Foundation is building a lasting bridge between the United States and India through high-impact interventions in education, livelihoods, public health, and leadership development, with a particular emphasis on empowering girls and women to achieve gender equity. It's a matter of great satisfaction that AIF has decided to set up its first Chapter in Hyderabad. The Government of Telangana will be glad to partner with AIF."
 
Speaking on behalf of the Hyderabad Chapter Founding members - Laxmi Nambiar, Jay Krishnan, Nalini and Raj Sharma, Kasturi and Ravi Subramaniam, Rekha Lahoti, and Nirmala Garimella, the Chapter Chair, Prshant Lahoti said, "The incubation of the Hyderabad Chapter, shows the focus and dedication of AIF towards the state of Telangana. The chapter will act as a catalyst to deepen the focus and amplify AIF's impact across the communities they serve."
 
Mathew Joseph, Country Director, American India Foundation, said, "We are jubilant at this partnership of Hyderabadi industry leaders coming together, to advance AIF's cause and vision in Telangana. AIF has been working extensively in the state for the past several years and is excited at the prospect of deepening these relationships. This partnership is a testament to the trust and collaboration we have built in the state and we hope to push each other to be better and think bigger. We are thrilled for this next phase of work and the lives we'll be improving together."
 
The launch was conducted in the presence of the Guest of Honor BVR Mohan Reddy, Executive Chairman, Cyient; Ms. Rebekah Drame, Acting US Consulate General, Hyderabad and 150 other luminaries and industry experts from Hyderabad.
Business Wire India

Sugar.fit, a health-tech platform that seeks to prevent, manage, and reverse diabetes, has launched their #DiabetesIsNotAOneWayTrip campaign.
 
It's estimated that about 77 million people in India have diabetes, with cases of millennials getting diagnosed on an all-time rise.
 
Sugar.fit is kick-starting this campaign as a means to address this issue and to convey that Type 2 and Prediabetes reversal is possible. And that tools and platforms, like Sugar.fit, have legitimate, science backed and evidence based methods to make this a reality. By doing this, the company aims to help people take their first very crucial and life-changing step against Type-2 and Prediabetes.
 
This was done by taking a very fresh and relatable take on the message that diabetes should not be treated as a life-long condition. Through a couple of amusing yet impactful videos, the brand aims to establish itself as a unique voice in an era where diabetes is deemed as an irreversible health condition. This 360-degree campaign was conceptualised and written by Girish Narayandass, Anuya Jakatdar and Manaswi Mohata, members of Bare Bones Collective, the creative agency behind the campaign. The campaign will be amplified further by featuring it in leading print media/newspapers such as the Economic Times and Times of India and also be featured on local BMTC buses across popular routes as well.
 
Sugar.fit has also collaborated with Vistara Airways to do a cool rendition of the campaign printed behind Visatara's boarding passes.
 
Video Link - https://www.youtube.com/watch?v=Yc7r5zwQXCs
 
Commenting on the launch of this exciting campaign, Madan Somasundaram, Co-founder & CEO, Sugar.fit, said "Most of the people believe that a diabetes diagnosis is the end of their lives as they'll be dependent on medication lifelong. This is because of a widespread misinformation about diabetes out there which causes people to believe that they cannot enjoy the simple pleasures of life. But our aim is to emphasise the fact that diabetes can be reversed and managed better."

He added: "We are stoked to initiate this campaign because it'll help ease all the doubts and fears that people have about diabetes and actually propel them towards taking immediate action.

We want to urge more people to take that first step either for themselves or for a loved one and connect them to a platform like ours which can show them the path back from diabetes."

Girish Narayandass, Co-founder of Bare Bones Collective said, "When we learnt about Sugar.fit's product offering, we realised that not only did we have to introduce a new product to our audience but also inform them, in the most entertaining way possible, that 'Type 2 Diabetes can be reversed.' We've tried to do just that with Diabetes is not a one-way trip."

Extramarks Education Wins Best EdTech Company of the Year

Friday 17 February 2023 10:15 AM UTC+00
Business Wire India

Extramarks Education, a global provider of 360-degree learning and teaching solutions has bagged the "Best EdTech Company of the Year" award at the Education Innovation Awards hosted by Entrepreneur India.

The criteria for the awards focused on digital adoption, innovative classrooms tools, planning and execution of the various technology tools and the respective outcome. Extramarks provides a wide range of Smart learning and teaching solutions for schools, teachers, and learners to supplement in-classroom and outside-classroom education. The company's robust school-based solutions offer a seamless, integrated learning environment with a ready-to-use curriculum-mapped repository, unlimited practice tests, and automated classroom-related activities to save time and increase teaching efficiency.

The ready-to-use solutions are imbibed with the proven pedagogy of the Learn-Practice-Test laced with modern technological features like gamified learning, digitalization of textbooks, assessments, and rich-crafted 2D-3D animated content.

"At Extramarks, we strive to create innovative and impactful solutions, and this recognition is a testament to our team's commitment to leveraging technology to drive excellence in education. We are humbled to be recognized for our contributions and remain dedicated to delivering exceptional learning experiences for students and educators alike," said Arpit Agarwal, Vice President Marketing, Extramarks Education.
Business Wire India

Nature's blunt force is beyond human reckoning. The recent quakes in Turkiye have shown the world again how insignificant and fragile human lives are. But, one cannot give up on their fellow beings who are suffering and everyone must join their efforts, which will make a great difference. Ascertaining this belief Forum of Indian Food Importers (FIFI) has decided to incorporate a support fund that will be focused to support the severe condition in Turkiye.

The FIFI administration has been in touch with H.E. Firat Sunel, Ambassador of Turkiye to India, and has initiated a campaign for sustenance, to help cope with the aftermath of the massive damage caused to the 13.5 million people in the 10 provinces of the country. While rescue operations are ongoing in the country FIFI members were moved by the death toll and lives of those impacted. As an aftermath of the relief efforts, FIFI handed over a sum of Indian Rupees Five Lakh Seventy Five Thousand along with food and blanket aid to the Ambassador and have assured continued support.

Mr. Pankaj Singhal, Founder Director FIFI, said after the meeting. "We heard that two earthquakes, followed by a winter storm compounded the misery in Turkiye and we were moved by the remark made by Ambassador Sunel, Dost kara gunde belli olur (a friend in need is a friend indeed)." He further added that "We are thankful to the FIFI members who have joined hands to support a fellow nation in the hours of utmost need. While the amount handed over to Ambassador Sunel is just a token of our solidarity and that we will continue to offer assistance to the best of our capabilities."
 
Further aiding the continuing efforts by FIFI members Mr. Tarun Arora, Director OA Associates offered in-kind assistance too by offering a complimentary 50,000 sq ft warehousing facility in the State of Haryana to stock the goods received for relief efforts until they are shipped out of the country. He said, "At times it is necessary to offer practical aid too like the need of stocking the goods before they are dispatched in an ambient environment emerged during the discussion with Mr Ambassador. We are pleased that FIFI has taken the initiative to bring us all together and give a unified face to our fragmented efforts and channel them for larger impact."

While FIFI will continue to consolidate the aid effort by its members and stakeholders they have also offered help in assistance clearance of goods to be exported out of India. Upon being asked about the subject engagement Mr. Amit Lohani, Founder Director of FIFI was quoted saying, "The earthquake in Turkey was a tragic event that caused significant damage and loss of life. We welcome the Reserve bank of India and the Government of India's swift and decisive action by granting special permission to open a rupee account by the Turkish Embassy in India, which is enabling direct and easy contributions to the relief efforts. Unfortunately, a few incidents have been reported about the fraudulent activities of taking money into a fake account. Thus, with this platform, we strongly urge the donors to send the donations directly to the Turkish Embassy Earthquake INR account and not get duped by any indirect non-trusted source request (Account Number 409001919272; IFSC Code: RATN0000400, RBL Bank, Malcha Marg, New Delhi). Furthermore, we also urge the supporters to kindly focus on offering the required support and it might be helpful for people to check what is needed at the time of donation. Currently, beyond cash donation, it will be of more value to offer winter tents, sleeping bags, blankets, and related material." He was further quoted saying, "The news might move from the front page but, the re-establishment is a long time effort thus, we press on the need of unrelenting support to those in need."
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