Emami Acquires Emami Neo-Herbals International

  • calendar26 Sept, 10:17 PM (GMT+5:30)
  • time2 Min
  • share

Summary

Emami Group announced, on September 25, the acquisition of Emami Neo-Herbals International, a newly incorporated subsidiary from Bangladesh. The authorised capital of the target entity is 1 crore BDT in the form of 10,00,000 ordinary shares of 10 each. Presently, the paid-up capital stands at 25 lakh BDT with 2,50,000 ordinary shares issued.

Emami Acquires Emami Neo-Herbals International

Key Takeaways from Emami Group’s Acquisition:

  • On September 25, Emami Group announced the acquisition of Emami Neo-Herbals International.
  • The target entity is a newly incorporated wholly-owned subsidiary of Emami Group in Bangladesh, which has an authorised capital of 1 crore BDT consisting of 10,00,000 ordinary shares with a face value of 10 BDT each.
  • At present the paid-up capital amounts to 25 lakh BDT comprising 2,50,000 ordinary shares issued by it.
  • The subsidiary will mainly engage in the sourcing of, importing, exporting, and trading of Ayurvedic and herbal products, both in raw form and finished.
  • Emami International FZE will buy 2,49,990 shares with 99.996% equity holding, and Emami International Personal Care LLC will buy 10 shares for a 0.004% shareholding.

The objective of the new subsidiary is to conduct a business that would mainly involve operations related to the buying, importing, exporting and trading of all forms of Ayurvedic and herbal products whether raw or finished products.

Emami International FZE will acquire 2,49,990 ordinary shares which represents 99.996% shareholding whereas Emami International Personal Care LLC shall acquire 10 shares representing 0.004%.

About Emami Group: 

Emami Group began in the middle of the 1970s in West Bengal by two childhood friends, RS Agarwal and RS Goenka left their prosperous jobs as Chartered Accountants with Birla Group to start with Kemco Chemicals, a small Ayurvedic medicine and cosmetic manufacturing unit in Kolkata in 1974 with just Rs 20,000 in capital. This was bold, considering the time when multinational companies dominated the Indian FMCG market. The Indian middle class was growing fast with its potential for consumption, thus creating an attractive market for personal care products. In keeping with Ayurveda's importance, the couple began to manufacture herbal cosmetic products and medicines under the Emami brand name from a small office in Kolkata's BurraBazar that it still uses today.

Source - NSE

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Linc and Mitsubishi Pencil Company Announce Joint Venture in India

  • calendar26 Sept, 01:13 AM (GMT+5:30)
  • time3 Min
  • share

Summary

Linc Limited announced on Thursday, September 26, the formation of a strategic joint venture with Mitsubishi Pencil Company, Japan, a global leader in the writing instruments industry with an annual turnover exceeding $500 million. 

Linc and Mitsubishi Pencil Company Announce Joint Venture in India

Key Takeaways from the Joint Venture of Linc and Mitsubishi 

  • The joint venture formed between Linc Limited and Mitsubishi Pencil Company, Japan, seeks to leverage the advanced technology in Japan to improve product quality and innovation in writing instruments. 
  • The venture will operate with Mitsubishi holding a 51% stake and Linc a 49% stake, with both looking to expand their international reach. 
  • The joint venture plans to produce high-quality, affordable writing instruments locally in India, utilising state-of-the-art technology and exploring local sourcing of raw materials to reduce costs.

According to a stock exchange filing, Mitsubishi Pencil Company will be contributing advanced Japanese technology through the joint venture, leading to better product quality and innovation. 

Linc Limited has distributed Mitsubishi's ‘Uni’; and 'Uniball' pens for over 30 years and will leverage its experience in sales and distribution to solidify Linc’s strong market presence throughout India. Moreover, the joint venture will allow Linc Limited to become an export base to international customers already serviced by Mitsubishi and Linc. Mitsubishi Pencil Company will hold a 51% interest and Linc Limited a 49% stake in this joint venture. Linc Limited recorded an overall revenue of over Rs. 500 crores in FY 2024. 

The joint venture, utilising and leveraging Mitsubishi's cutting-edge technology, will produce writing instruments with excellent quality, smoothness, and style. The products will be manufactured locally so that they remain cost-effective within the Indian market. The joint venture will explore sourcing some raw materials locally. thus bringing down costs of production while meeting world-class standards. 

This joint venture aims to introduce advanced Japanese technology to the Indian market, enhancing the production of high-quality yet affordable writing instruments tailored specifically for Indian consumers. 

Commenting on the joint venture, Mr. Deepak Jalan, Managing Director of Linc Limited, said- “We are excited to strengthen our long-term partnership with Mitsubishi Pencil Company, with whom we have shared over 30 years of exclusive collaboration. This joint venture allows us to offer advanced Japanese technology at more affordable price points, creating a unique synergy between innovation and market expertise. We are confident that this partnership will set a new benchmark in the Indian writing instruments industry and open up new avenues in global markets as well.” 

About LINC Limited:

Incorporated in 1976, LINC Ltd is the largest and oldest manufacturer of writing instruments in India. The company specialises in producing a diverse range of writing products, including ball pens, gel pens, roller pens, retractable ball pens, dark pencils, and various stationery items. With decades of experience in the industry, LINC Ltd. is committed to delivering high-quality writing solutions to meet the needs of consumers.

About Mitsibushi Pencil Company Limited

Mitsibushi Pencil Company Limited traces its roots back to 1887, when it was established as Masaki Pencil Manufacturing Company in the Naito area of Tokyo's Shinjuku Ward by Niroku Masaki. Inspired by his first encounter with a pencil at the 1878 Paris World Fair, Mr. Masaki dedicated himself to extensive research and eventually created Japan's first pencil.

In 1901, after overcoming numerous challenges, he successfully convinced the Ministry of Communications to purchase pencils he designed specifically for government use. To commemorate this achievement, Mr. Masaki registered a trademark that featured the Mitsubishi "three diamond" mark, which was inspired by the "three fish scales" of his family crest. This mark was registered in 1903, a decade before the Mitsubishi industrial conglomerate's trademark.

Today, the Mitsubishi mark remains a symbol of the tradition and pride established by the company’s founder, continuing to represent quality and innovation in writing instruments.

Source - NSE

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iDTC Launches Advance Retail Technology for Middle East

  • calendar26 Sept, 01:08 AM (GMT+5:30)
  • time3 Min
  • share

Summary

Intellect Digital Technology for Commerce (iDTC), a division of Intellect Design Arena,  on September 26 has launched a new AI-driven retail platform called eMACH.ai Retail 6DX, aimed at the Middle East market.This is retail technology designed to enhance the in-store shopping experience, in hypermarkets, supermarkets, and fashion stores.

iDTC Launches Advance Retail Technology for Middle East

Key Takeaways from iDTC’s Launch:

  • iDTC Launches eMACH.ai Retail 6DX as a start to address the current challenges afflicting retail businesses in the Middle East.
  • The corporation has a flexible architecture which will enable it to integrate easily and, hence, enhance its ability to adapt to any retail format.
  • AI enables the platform to assist the retailers in finding out what customers want, optimising the inventory, and offering them deals that activate real-time detection of trends and resultant better decision making.
  • Some of the noticeable features involved are streamlining checkout procedures, promoting targeted marketing by offering flexible ways of payment, offers from the Customer Data Platform, tailored offers, and customisable loyalty programs.

To streamline operations and enhance customer loyalty, eMACH.ai Retail 6DX provides retailers with the foundational building blocks to interact with their shoppers in a manner that cements long-term relationships.

The eMACH.ai Retail 6DX platform features a flexible architecture that allows easy integration with other applications.It encompasses 23 events, 13 microservices, and 55 APIs, all running on the cloud, thereby providing high performance and better return against retailers.

The AI platform enables retailers to determine the needs of customers, optimise their stock, and ensure appropriate promotion. This allows businesses to comprehend patterns in real-time streams, automate and optimise supply chain operations, and take decisions that are more customer-centric.

Key features of eMACH.ai Retail 6DX include:

1. Quick Check-out: Effective check-out procedures truly expedite the service such that more customers can be targeted.

2. Marketing Promotions: Focused marketing can provide suitable offers at the right moments.

3. Flexible Payment Method: Integrating cards with digital wallets streamlines the process for buyers

4. Customer Data Platform (CDP): Those tools integrate customer insight tools to provide for a personalised experience for shoppers.

5. Personalised Deals: The portal allows customised coupons and vouchers to make passive purchasers consistent customers.

6. Loyalty Scheme: Retailers can have personalised loyalty scheme, which can attract the customer and help in establishing loyalty for the brand.

About Intellect Design Arena Limited:

Intellect Design Arena Limited is one of the leading companies providing a wide spectrum of Financial Technology solutions for large as well as mid-sized financial institutions across 57 countries.eMACH.ai is the leading platform that has been designed to be powerful and flexible to provide a wide range of open finance solution capabilities. These consist of 329 microservices, 535 events, and more than 1,757 APIs. This platform helps the financial institutions build and execute advanced technology solutions matching market requirements for remaining relevant.

Having been in the business for 30 years, Intellect brings banking and insurance technology solutions through four major areas: Global Consumer Banking, Global Transaction Banking, IntellectAI, and Digital Technology for Commerce. Intellect is one of the leaders in the use of Design Thinking as a means of driving innovation, helped by their unique 8012 FinTech Design Centre. Intellect serves more than 325 customers worldwide by leveraging a focused team of solution architects and technology experts working out of key financial centres.

Source - NSE

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International Conveyors Limited Acquires Equity Shares in IIFL Finance Ltd.

  • calendar26 Sept, 10:12 PM (GMT+5:30)
  • time2 Min
  • share

Summary

International Conveyors Limited (ICL) announced on Wednesday, September 25, that it has made a strategic acquisition of equity shares in IIFL Finance Ltd. The acquisition was completed for investment purposes and does not constitute a related party transaction.

International Conveyors Limited Acquires Equity Shares in IIFL Finance Ltd.

Key Takeaways from the International Conveyors Limited Acquisition

  • ICL has acquired 85,390 equity shares in IIFL Finance Ltd.
  •  IIFL, a leading NBFC, provides a wide range of financial services and loans across India.
  • IIFL Finance reported a turnover of ₹10,249.43 crore in FY 2023-24, showing consistent growth over the last three years.

As per a stock exchange filing, International Conveyors Limited has acquired 85,390 equity shares of IIFL Finance Ltd. for a total consideration of ₹4.28 crore. The acquisition was carried out through a cash transaction, with the primary objective being investment purposes. This move comes as part of ICL's strategic expansion of its investment portfolio.

IIFL Finance is one of India's largest Non-Banking Financial Companies (NBFCs) and provides a wide variety of loans and financial services. In FY 2023-24, they recorded a turnover of ₹10,249.43 crore, FY 2022-23, ₹8,258.85 crore, FY 2021-22, 6,854.73 crore. With this investment, ICL will see its investment portfolio continue to expand.

About International Conveyors Limited (ICL):

Incorporated in 1973, International Conveyors Limited (ICL) specialises in the manufacture and marketing of solid-woven PVC-covered conveyor belts. Solid-woven conveyor belts manufactured by ICL are known for their fire-retardant and antistatic qualities and are most commonly used in underground mines for the transport of minerals, coal, and potash.

International Conveyors Limited (ICL) is one of the largest manufacturers of solid woven belts in the world. The company manufactures a full range of products and can manufacture conveyor belts with strengths over 3150 kN/m (type 18 width) and belt widths up to 1800 mm.

About IIFL Finance Limited:

IIFL Finance Limited is a prominent player in the financial services sector in India. With its subsidiaries—IIFL Home Finance Limited, IIFL Samasta Finance Limited (formerly Samasta Microfinance Limited), and IIFL Open Fintech Private Limited—IIFL offers a wide array of loans and mortgages. 

The company provides various financial products, including home loans, gold loans, business loans (including loans against property), medium and small enterprise financing, microfinance, developer and construction finance, and capital market finance. IIFL caters to both retail and corporate clients, ensuring diverse financial solutions to meet varying needs.

Source - NSE

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