Edelweiss Tokio Life Wins ‘Best Product Innovation’ Award
Edelweiss Tokio Life Insurance, a joint venture between the Edelweiss Group and Tokio Marine Holdings of Japan, has been conferred the ‘Best Product Innovation’ award for its product, Wealth Ultima, at the prestigious Fintelekt Insurance Awards 2017.
As a philosophy, Edelweiss Tokio Life believes that finding and articulating the problem is the first half of any solution, and the other half is then to solve it. This product was an outcome of a need gap research which identified the lack of a methodical way of managing wealth and unavailability of a single life insurance product to address various financial needs of customers. Edelweiss Tokio Life believes in creating products designed basis the principles of Financial Planning.
Commenting on the win, Mr.Deepak Mittal, MD & CEO of Edelweiss Tokio Life Insurance, said, “At Edelweiss Tokio Life, we constantly strive to create products that are innovative and provide value to our Customers. Wealth Ultima is one such product, which is differentiated due to its unique benefits offered all in one plan. We are deeply gratified that customers, as well as the industry, have acknowledged this.”
Edelweiss Tokio Life’s Wealth Ultima for which this accolade was bestowed, is a Unit Linked Insurance Plan offering three benefits in one – systematic investment plan, systematic transfer plan and systematic withdrawal plan.
About Edelweiss Tokio Life Insurance
Edelweiss Tokio Life Insurance Company Limited (‘the Company’), registered with Insurance Regulatory and Development Authority of India (Regn. no. 147), is a joint venture between Edelweiss Financial Services Limited and Tokio Marine Fire Nichido Insurance Company Limited (a Japan based company), having a shareholding of 51% and 49% respectively in the Company. This lineage brings together a deep understanding of customer needs and international expertise. The Company offers proprietary need-based solutions to help customers meet their life stage financial goals.
Edelweiss Tokio Life Insurance Company Limited is the “Winner – Best Life Insurer of the Year”, presented at the 15th Annual Outlook Money Awards 2016.
To learn more about Edelweiss Tokio Life Insurance, please visit www.edelweisstokio.in
To learn more about the Edelweiss Group, please visit www.edelweissfin.com
To learn more about Tokio Marine Holdings Inc., please visit www.tokiomarinehd.com/en
Sapnesh Lalla Takes Charge as the CEO of NIIT Ltd
NIIT Ltd today announced that Mr. Sapnesh Lalla who has been leading NIIT’s Global Corporate Business, has assumed charge as the Chief Executive Officer of the company from August 1, 2017.
As the CEO of NIIT, Sapnesh’s focus would be to drive forward strategies aligned to the requirements of the economy that is witnessing digital disruption.
Welcoming Mr. Sapnesh Lalla as the CEO, Mr. Vijay Thadani, Vice Chairman & MD, NIIT Limited said, “We are delighted to have Sapnesh Lalla taking charge of the company at a time when our business transformation initiatives have started to yield results and the company is firmly back on a growth path. With his global experience and keen understanding of disruptions that the economy is currently undergoing, Sapnesh will be responsible for establishing NIIT as a leader in the digital learning space.”
“Over the last three decades we have built a strong pipeline of leaders. Sapnesh has enjoyed a 25 year long tenure with a number of accomplishments including taking NIIT’s Corporate Learning Group to new heights. I heartily congratulate Sapnesh and I am confident that his appointment will give a further thrust to the growth drive of NIIT,” added Mr. Thadani.
Sapnesh joined NIIT in 1992 as a Project Lead in the Learning Content Development team and has since held various management and leadership roles in product management, customer support, channel development, sales, and support functions.
Prior to his appointment as CEO, Sapnesh served as the President of NIIT’s Global Corporate Business, which constitutes nearly seventy percent of NIIT’s total business. He led critical initiatives for the expansion of the company in North America and Europe including significant acquisitions like Cognitive Arts and Element K. Under his leadership, NIIT has grown to become a leading global learning outsourcing solutions provider with its Managed Training Services offering.
“The world is going through a spate of very substantial disruptions. “Digital” is changing how we and our customers do and will do everything. The millennial workforce works and learns differently. Soon we will have an average lifespan of 100 years. Education and Training are the best known enablers of change. As I look ahead, I see a great opportunity for us to create new value for our customers and grow.” said Mr.Sapnesh Lalla, CEO, NIIT Limited.
Sapnesh is an Electronics and Communications Engineer, and received his Executive Education at the Ross School of Business, University of Michigan. He was selected into the prestigious Managing Director’s Quality Club and has the distinction of receiving the coveted Global Leadership Award twice in 2001 and 2010.
NIIT is a leading Skills and Talent Development Corporation that is building a manpower pool for global industry requirements. The company, which was set up in 1981 to help the nascent IT industry overcome its human resource challenges, today ranks among the world’s leading training companies owing to its vast and comprehensive array of talent development programs. With a footprint across 40 nations, NIIT offers training and development solutions to Individuals, Enterprises and Institutions. NIIT has three main lines of business across the globe – Corporate Learning Group, Skills & Careers Group and MindChampion Learning Systems Limited.
NIIT’s Corporate Learning Group (CLG) offers Managed Training Services (MTS) to market-leading companies in North America, Europe, Asia, and Oceania. The Skills & Careers Group (SNC) delivers a diverse range of learning and talent development programs to millions of individual and corporate learners in areas including Digital Transformation, Banking, Finance & Insurance, Soft Skills, Business Process Excellence, Retail Sales Enablement, Management Education, Multi-Sectoral Vocational Skills, Digital Media Marketing, and new-age IT. As NIIT’s wholly owned subsidiary for its K-12 school learning initiative – MindChampion Learning Systems Limited (MLSL), provides futuristic NIIT nGuru range of learning solutions for schools comprising, interactive Classrooms with digital content, technology-driven Math Lab, IT Wizard programs and Quick School – an Education Resource Planning software. The Training.com learning platform is an NIIT initiative for advanced career programs, which are delivered live by industry experts in an immersive and interactive online mode, combining instructor-led classrooms with the convenience of accessing the training sessions from anywhere.
As the Most Trusted Training Brand in India for 5th year in a row (Brand Trust Report, 2017), NIIT’s learning and talent development solutions, continue to receive widespread recognition globally. NIIT has been named among the Top 20 Training Outsourcing Companies for the past nine consecutive years by Training Industry, Inc. USA. Further, leading Indian ICT journal Dataquest has conferred upon NIIT the ‘Top Training Company’ award successively for the past 20 years, since the inception of this category. NIIT has also been featured as the ‘Most Respected Education Company’- 2016 by leading financial magazine, Business World. NIIT.tv – a disruptive innovation by NIIT, won the prestigious award for ‘Educational Technology, at the Indo-American Education Summit 2016.
DuPont Nutrition & Health Launches DuPont NutriScholars Awards
DuPont Nutrition & Health announces the first edition of its pan-India food science program titled ‘DuPont NutriScholars Awards’ (DNA). The program aims to reach out to food science and technology students across leading institutions to pioneer ideation of ethnic Indian foods and beverages.
As one of the world’s leading specialty food ingredients suppliers, DuPont Nutrition & Health is committed and actively working towards driving food science research and developing actionable food strategies. DuPont regularly conducts market research relating to concept development, consumer acceptance, economic feasibility, and product marketing. This is particularly critical in a diverse market like India, to cope with rapidly changing demographics and to discover new initiatives in the processed food industry.
Collaboration to drive local innovation
Parth Patel, business director, DuPont Nutrition & Health, South Asia, said: “We are thrilled to have the leading food science and research institutes joining our growing network of problem solvers for the traditional Indian food and beverage industry. To solve food-related challenges such as under-nutrition, diet-related diseases and developing authentic taste and texture, we must drive innovation, build knowledge and share expertise. We need concrete solutions that benefit both food manufacturers as well as consumers. With this joint vision, shared values and complementary approaches with the academicians of the country, we believe we can co-create solutions for healthier, tastier, affordable and convenient food for the Indian palette.”
“The DuPont NutriScholars Awards strengthens our objective of bringing innovative food ideas in local and ethnic food industry using DuPont™ Danisco® range of ingredients,” he adds.
Speaking on collaboration with the academia, Sanjay Iqbal, application lead, DuPont Nutrition & Health, South Asia said, “India is one of the fastest growing economies in the world. There is a need to create a platform so that academia in the field of food science and technology can work closely with industry to understand the current food challenges. This will help drive creative ideas using functional and health-promoting food ingredients to fuel the growth in this segment.”
More about the program
The DuPont NutriScholars Awards 2017 edition features three distinctive award categories:
- Best Innovation in Local Foods
- Most Nutritious Food Idea
- Ultimate Health & Wellness Food Creation
DuPont Nutrition & Health has partnered with F1rst, a specialist business research & consultancy organization to launch the program to more than 150 universities and institutions in the country. The DuPont NutriScholars Award will run in two phases ending September 15 and November 30 this year respectively. Nine winners across three award categories will be announced in December 2017.
The jury panel will include renowned industry experts from leading food companies, academicians and DuPont representatives. Product innovativeness, potential to be successful in commercial market and technical skills used in product development using one or more DuPontTM Danisco® ingredients will lay the foundation for selection of best food designs across all three categories.
For more information on the program visit www.dupontnutrischolars.com
DuPont Nutrition & Health combines in-depth knowledge of food and nutrition with current research and expert science to deliver unmatched value to the food, beverage and dietary supplement industries. We are innovative solvers, drawing on deep consumer insights and a broad product portfolio to help our customers turn challenges into high-value business opportunities. More information is available at www.food.dupont.com.
DuPont (NYSE: DD) has been bringing world-class science and engineering to the global marketplace in the form of innovative products, materials, and services since 1802. The company believes that by collaborating with customers, governments, NGOs, and thought leaders we can help find solutions to such global challenges as providing enough healthy food for people everywhere, decreasing dependence on fossil fuels, and protecting life and the environment. For additional information about DuPont and its commitment to inclusive innovation, please visit http://www.dupont.com.
Praxis Media Announces Winners of its National Business Leadership & Service Excellence Awards, 2017 in New Delhi
On Saturday, July 29, 2017 the National Business Leadership & Service Excellence Awards, 2017 were held at Hotel Crowne Plaza Today, New Delhi amidst the elites of the business and service sector. The National Business and Service Excellence Awards are organized, every year, by India’s leading media and marketing group, Praxis Media to celebrate and recognize those Achievers, Innovators and Leaders of the Business and Service sector that are maximizing their potential and have mastered the art of delivering quality products, excellent services and trustworthy brands and business names.
This year, the National Business Leadership & Service Excellence Awards, 2017 were presented to more than 50 winners at 5 different levels. The exacting and daunting feat of zeroing-in on the winners was achieved by Praxis Media, with the support from its associates and partners, after an elaborate and meticulous selection process which included inviting nominations from potential nominees, substantial research & surveys, collation of feedback & opinions, screening based on pre-determined judging parameters and subsequently choosing the winners through an independent jury panel. The significant parameters which were considered for selecting the winners included Market Presence & Competition, Growth & Profitability, Quality & Operational Excellence, Financial & Business Acumen, Innovation & Novelty in Services, Ingenuity and Imagination, Sustainability & Environmental Awareness, Job & Impact Potential, Client/Customer & Industry Feedback, Use of Technology & Trends, Efforts for Risk & Setback Mitigation, Previous Awards & Achievements etc.
The event was graced by an elite panel of guests and dignitaries that included names like Shri Anil K. Shastri – Senior Politician & Former Finance Minister, Government of India, Shri Sandeep Patil – Former Cricketer & Chief Selector, Indian Cricket Team, Dr. Sonal Mansingh – Padma Visbhushan Winner & Cultural Icon of India, Dr. Jai Madaan – Celebrated Astrologer & Numerologist.
National Business Leadership & Service Excellence Awards, 2017, an initiative of Praxis Media, in association with Business Synergy – India’s leading online business & service resource and Global Brands Network – Confederation of most valuable brands worldwide was instituted in 2015 to recognize and felicitate the achievements and the work done by individuals and organizations in maintaining excellent quality in their business and services with commendable commitment, exemplary approach and innovative vision which is an inspiration in itself.
The initiative was well supported by Business Synergy – Brand Partner, SkillOutlook – Knowledge Partner, India Entrepreneurs Club – E- Platform Partner, Global Brands Network – Network Partner, The SME Times, Business Sandesh, LifestylePost.Online and Navyug Sandesh as its Associate Partners who echoed the same objective of ‘Business & Service Excellence’.
A comprehensive list of winners of the National Business Leadership & Service Excellence Awards, 2017:
Design Plus – Best Architectural Firm in Assam, Dr. Bharat Saboo – Best Consultant Diabetologist in Indore, GS Studio Design Consultants – Best Architectural Firm in Hyderabad, Dr. Harish Kumar Agarwal – Best Consultant Psychiatrist in Uttar Pradesh, Makoons Pre School – Best Pre-School Chain in North India, The Dental Station – Best Multi-Speciality Dental Clinic in Noida, Sanskar Dream School – Best Junior School in Aurangabad, Dt. Manjula Singla – Best Dietician and Nutrition Consultant in Uttarakhand, PERFECT SMILE Verma’s Dental Implant & LASER Centre – Best Multi-Speciality Dental Clinic in Haryana, Lemon Archi Visuals® – Best Consultant Interior Space Planner in Madhya Pradesh, Trinity Studio Private Limited – Best Architectural 3D Visualization Company in India, NRDS Management Private Limited – Best Vocational Training Institute in Assam, Dr. Mansi Arya – Best Homeopathic Consultant in New Delhi, Mr. Ravi S. Sopariwala – Best Design Consultant in Surat, Classy Grafts – Best Hair Transplant Centre in Bengaluru, Rebanta Academy of Design – Best Design Institute in Madhya Pradesh, Meadows Wellness – Best Beauty and Wellness Centre in Noida, Happybees Pre School – Best Pre-School in Gujarat, Sreedhar’s CCE – Best Competitive Exams Institute in Andhra Pradesh, Dr. Monga Ayurvedic Medi Clinic – Best Ayurveda Treatment Clinic in New Delhi, ADeCon – Best Architect and Design Consultant in New Delhi, NatureHealz Private Limited – Best Naturopathy Health and Wellness Centre of the Year, Dr. Tushar Vinod Deoras – Best Career Counsellor in India, Seeds of Innocence IVF & Surrogacy Hospital – Best IVF Centre in India, Interior Options – Best Interior Decorator in North India, Mithi Interiors Private Limited – Best Turnkey Interior Design Firm in India, Ranjana Physiotherapy Clinic & Ladies Fitness Centre – Best Physiotherapy Clinic in Bhopal, Indraprastha Apollo Hospitals, New Delhi – Service Excellence Award for Outstanding Contribution in Healthcare, Rajiv Gandhi Cancer Institute and Research Centre – Best Cancer Care Hospital in India, Fortis Hospital, Noida – Best Super-Specialty Hospital in North India, Merryland International Play School – Best Upcoming Innovative International Play School in Odisha, Shantiratn Foundation De-Addiction & Rehabilitation Center – Best De-Addiction Centre in Delhi & NCR.
The Founder-Director of the media group, Mrs. Swagatika Patel Singh was also present at the function and said that each winner has exemplified excellence and typified the very best of teaching practices and educational innovations. These winners are enhancing young lives on a daily basis by giving them proper guidance, immaculate skills, inviolable courage and unlimited curiosity. We understand that true education can make a real difference and that is exactly what all the winners here can take pride of. These recognitions will further strengthen their ability to steer their objective through turbulent times, apply the best of the professional modules to manage and keep their missions afloat.
About Praxis Media Private Limited:
Praxis Media Private Limited is a premier insight driven media and marketing services company that is widely recognized for pioneering and innovative work for its clients and is a one-stop solution for affordable and turn-key marketing and business services for domestic, multinational, government, non-government, corporate, established and new start-up businesses and services. The company works with its brands and associates to help in boosting its client’s businesses and services and taking it to its zenith through bespoke brand management and strategy, ratings and accreditations, business advisory, market research, marketing solutions, strategic public relations, media management, reputation management and design and communication solutions
Getting the Plot Right – Move to the Best Plotted Development in Bangalore, Hebron Properties
A new Bangalore, Le Lexuz Stoneview takes shape within the beautiful city of Bangalore. Le Lexuz Stoneview – a beautifully designed 20 acre gated community of Villas & Villa Plots. It is ideally located midway between Hebbal and the Bangalore International Airport. This pristine urban paradise is set against the backdrop of the scenic “Nandi Hills” in the distance.
A luxury villa project, housing 202 (30 Villas with 172 villa plots) spread over 20 acres of lush landscape creating a “heaven on earth” feeling, set amidst the backdrops of the elegant and historic “Nandi Hills”. Le Lexuz Stoneview charms you with its tranquil and serene surroundings and tucks you away from the hustle and bustle of the daily grind once you are home.
With tree lined pathways paved with cobble stones, wide and narrow streets that lead you to a huge club house, entertainment center is sure to keep your weekends and leisure hours cheerful and relaxed. These adaptations make this 20 Acres gated community the best plotted development of Bangalore.
Le Lexuz Stoneview by Hebron Properties, Bangalore’s most admired villa developer is all poised to redefine North Bangalore. Complemented by its fast developing neighbourhood and its connectivity to life essential such as Hospital, School, Colleges and Entertainment Hubs. North Bangalore could very well be compared to its upscale counterparts in other parts of the country.
Located way before the Kempegowda International Airport and the upcoming 300 Acres Tech Park, this project is a Bangalore International Airport Area Planning Authority approved (BIAAPA) “A” Khata project and comes with a commitment of being maintained for 5 years by the developers. With plots ranging in sizes from 1575 sq.ft. to 5400 sq.ft. Meeting every client need. Le Lexuz Stoneview simply offers the flexibility in choice.
Owning a home at a Le Lexuz Stoneview carries with it advantages in terms of the space, greenery, ambiance and style quotient. Apart from this the highlight is the proximity to the life’s most important needs like office space with the Upcoming 300 Acres Tech Park, top end Schools like Aditi Mallya, Vidya Shilp, Stonehill International School and Canadian International, Restaurants and Hotels like The Marriot Hotels & Resorts, Hospital like Columbia Asia and a number of shopping malls and off course the International Airport. With all these just within 15 minutes of drive time, life at the Le Lexuz is a blessing in classy dressing.
Rush to book now; Ready for Registration and be a part of best villa plotted development.
FreakOut Group Launches New Subsidiary in India as South Asia’s First Base for Developing Native Advertising Platform for Smartphone
FreakOut Holdings, inc. (Head office: Minato-ku, Tokyo, Global CEO: Yuzuru Honda, President: Yusuke Sato), Japanese adtech leader, today announced the opening of a new subsidiary, “FreakOut Technology Private Limited” (Headquarters: Haryana State Gurgaon, Managing Director, CEO: Ryo Matsuo, hereinafter referred to as FreakOut India) as the first base in South Asia, and starting native ad platform business in India.
The FreakOut group has promoted global development centered on the native advertising platform business with FreakOut Pte. Ltd. (Head office: Singapore, Representative: Tomohiro Yasukura) as headquarters for overseas business. Since 2015, the first native advertising platform in Southeast Asia has been released, we expanded our partners mainly around premium media in each country, and now we have grown into a native advertising platform that more than 700 overseas advertisers use.
India with a population of 1.34 billion is the world’s second largest population and it is expected to surpass China by 2022, which is currently No.1 in the world. In addition, India’s GDP (Gross Domestic Product) in 2016 stood at the 7th place globally, maintaining an extremely high economic growth rate of about 7% over the previous year.
Indian smartphone users who are the second largest in the world, China being No.1, exceeded 300 million users for the first time in 2016. Shipments of smartphones rose 18% over the previous year, far exceeding the world average of 3% (*1). On the other hand, smartphone penetration rate is still low compared with other countries including China and the US. Smartphone manufacturers from around the world are focusing on the Indian market because of immense potential of further market expansion expected in the future.
In addition, with the spread of Internet communication and smartphones, the digital advertising revenue is steadily increasing. In 2016, the advertisement volume of digital advertisements as a whole increased by 28% compared to the previous year, especially mobile advertising which saw a 100% increase. By 2020 compared to 2016 the digital advertising as a whole is expected to grow by 2.5 times with mobile advertising growing by about 5 times. (*2) For this reason, FreakOut India will provide native advertising platform solution to the Indian advertising market, which continues to grow remarkably, centering on smartphones, and will strive to maximize advertisement effectiveness and media revenue.
Yuzuru Honda, Global CEO of FreakOut Holdings, inc. says, “Within the Asian region, we have bases in 8 countries, and today we launch new Indian office, firstly in Gurgaon. Unlike other Asian countries, in India, our business strategy is investment and M&A of the Indian domestic technology venture in parallel with our own product sales. We have invested in Indian ad-tech companies and marketing-tech startups, since before opening the office in India. Now we have an office in India, we are ready to settle down for sourcing strategy, make a move to M&A, and establish a presence in India.”
Max Ventures and Industries Ltd. Q1 FY18 Standalone PAT at Rs 60 Cr.; New Businesses Progress Well
Max Ventures and Industries Ltd (MaxVIL) today announced its Standalone Financial Results for the first quarter ended June 30, 2017. In Q1 FY 2018, MaxVIL has reported a Net Profit After Tax of Rs. 60 Crores on a Standalone Basis, aided by a gain on stake sale of its subsidiary Max Speciality Films (MSF).
The Board of Directors of MaxVIL also noted the status of key business initiatives and achievements in the previous 12 months since the listing of equity shares of MaxVIL. The shares were listed at BSE and NSE on Jun 22, 2016.
Max Ventures and Industries Limited (MaxVIL) is the newest listed entity in the Max Group. It was formed after the erstwhile Max India was demerged into Max Financial Services Limited, Max India Limited and Max Ventures and Industries Limited. MaxVIL has four distinct business verticals Max Speciality Films (Manufacturing), Max Estates (Real Estate), Max Learning (Education) and Max I. (providing intellectual and financial support to high-potential start-ups/ early growth stage companies).
Max Speciality Films Limited (a material subsidiary of MaxVIL)
- Toppan Printing Co. Ltd, Japan (Toppan) has become a joint venture partner in Max Speciality Films Limited (MSFL) by acquiring a 49% stake in the company on a fully diluted basis through a mix of secondary sale by MaxVIL and primary share issuance by MSF. MaxVIL has transferred 35.84% equity of MSFL for INR 145.41 crore to Toppan. In addition, MSFL has issued and allotted 13.16% equity share to Toppan for INR 53.36 crores.
- MSFL is undergoing a capacity expansion by setting up an additional Line for manufacture of BOPP films (Line 5), with a capital investment of Rs. 250 crores. This line will increase production capacity from 45,000 tonnnes per annum to 75,000 tonnes per annum. Line 5 is expected to commence commercial production in first quarter of FY 2019.
Max Estates Limited (MEL)
- Villa Development Project (Dehradun, Uttarakhand): MEL’s inaugural project on Rajpur Road at Dehradun (Uttarakhand) comprises luxury, bespoke villas. MEL has pre-sold 20% of inventory prior to formal launch of the project. The project is likely to completed and delivered to its customers during second quarter of FY 2018-19.
- Commercial Tower at NCR: A commercial tower project, called Max Towers, with a total developable area of 6,00,000 sqft. on a land parcel of 3,352 sqmt. has been acquired by MEL through a SPV. Some floorplate of Max Towers has been purchased by various Max Group entities. The project is strategically located on Delhi-Noida-Delhi expressway (DND), near South Delhi, and is part of a larger project – Delhi 1. Upon completion, Max Towers is envisioned to become the most admired office development in Delhi – NCR.
- Office Space redevelopment – Okhla, New Delhi: MEL, subject to necessary approvals, has an opportunity to redevelop an industrial plot with 1,40,000 sq. ft. of developable area at Okhla Phase 3 (South Delhi) under an asset light model of development. The project is likely to commence during next quarter of FY 2018 and will be completed in 36 months.
Max I. Limited
- Investment in Azure Hospitality Pvt. Ltd. (Azure): MaxVIL made investment in Azure, which owns and operates Mamagoto, a mid-scale casual dining restaurant chain and Speedy Chow/Roll Maal, a quick service restaurant (QSR) format for Indian & Chinese street food and an Institutional Catering Service. Azure Hospitality has also acquired the ‘Dhaba’ brand which is a fine dining north Indian cusine restaurant. MaxVIL has recently invested an additional Rs. 37 crore as a part of the second round of fund raising by Azure for its expansion in domestic and international markets.
- Investment in FSN E-Commerce Ventures Private Limited (FSN): MaxVIL acquired approx. 2% equity stake, at fully diluted basis in FSN. The company is engaged in selling cosmetic products and personal and homecare accessories in India through an e-commerce and offline retail platform called ‘Nykaa’.
About Max Ventures and Industries Limited
Max Ventures and Industries, is the holding company of Max Speciality Films, an innovation leader in the Speciality Packaging Films business. In addition to manufacturing, the Company also serves as the Group’s entrepreneurial arm to explore the ‘wider world of business’, especially taking cues from the economic and commercial reforms agenda of the present Government, including ‘Make in India’, ‘Skill India’, ‘Digital India’, among others. With this vision, MaxVIL has incorporated three new subsidiaries, which are Max Estates, the real estate arm of the Max Group with the vision to bring the Group’s values of Sevabhav, Excellence and Credibility to the Indian real estate sector, Max I. Limited, a fully owned special purpose vehicle, will facilitate Intellectual & Financial Capital to promising and proven early-stage organizations across identified sunrise sectors and Max Learning Limited, which is focused on the education sector.
MaxVIL is listed on both the Bombay Stock Exchange as well as the National Stock Exchange. As on date, MaxVIL has 7,24,33,552 outstanding shares at a face value of Rs 10 per share. The current promoter shareholding in MaxVIL is 38.21%.
About Max Group
The Max Group is a leading Indian multi-business conglomerate with a commanding presence in the Life Insurance, Health & Allied businesses and packaging sectors. In FY2017, the Group recorded consolidated revenues of Rs. 16,798 Cr. It has a total customer base of 9 million, nearly 240 offices spread across India and people strength of 22,500 as on 31st March 2017. The Group’s investor base includes marquee global financial institutions such as Goldman Sachs, KKR, IFC Washington, Fidelity, Vanguard, Ward Ferry, New York Life, Wasatch and Invesco.
The Max Group comprises three holding companies, namely Max Financial Services, Max India and Max Ventures & Industries
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Grameen Koota Appoints M.N. Gopinath as New Chairman
At the meeting of the Board of Directors of Grameen Koota Financial Services Pvt. Ltd. on July 25, 2017, Mr. M.N. Gopinath was elected as the Chairman of the company. The election of a new chairman was necessitated by Mrs. Vinatha Reddy the Founder Chairperson remitting office after a long stint of 18 years chairing the Board to pursue her new social ventures i.e., Yunus Social Fund, Bangalore and Grameen Affordable Shelters Pvt. Ltd.
Mr. Gopinath is a career banker and has served Bank of India and ICICI Bank for over 35 years. After retirement from ICCI Bank, he served on the Boards of Bank of India for 6 years and Punjab National Bank for 3 years. He has been the Chairman of ICICI Prudential Trust Ltd. (Mutual Fund) since 2009 and a Director of ICICI Prudential Pension Fund Management Co. Ltd. since 2011. He has also served as a Nominee Director of ICICI Bank Limited on the boards of ICICI Home Finance Ltd, ICICI Web Trade Ltd., Loyalty Solutions and Research Ltd. and Stock Holding Corporation Ltd. He has been a member of the SEBI Advisory Council since 2012.
“Being elected the Chairman of such a professional Board is an honour ” Mr. Gopinath said in his acceptance remarks. “We have a remarkable legacy of a business rooted in compassion for the poor, to protect and carry forward,” he said.
The Board also appointed Mr. Massimo Vita as Director.
Mr. Massimo Vita is the Head of the Operations Support Team & Chief Risk Officer at CreditAccess Asia. He is Chairman of the Board for CAA’s two subsidiary companies in Indonesia and the Philippines and a Board Member of the subsidiary in Vietnam. Mr. Vita is also Chair of the Steering Committee for the Risk Management Initiative in Microfinance (RIM). He has over a decade’s experience in the MFI sector specializing in corporate governance and risk management, establishing Technical Assistance Facilities (TAF), rating & evaluation of microfinance institutions (MFIs), rural and urban microfinance.
Mr. Vita has a Master’s degree in Development, Innovation and Change from the University of Bologna. His work in several institutions in Latin America, South America, Asia and Africa has given him a thorough understanding of the MFI sector.
“We are pleased to welcome Mr. Gopinath as our new Chairman and Mr. Massimo Vita as Director,” said Udaya Kumar, Managing Director and CEO of Grameen Koota. “These appointments have strengthened the Board and we are confident of growing and expanding in the right direction.”
In his congratulatory message, Paolo Brichetti, CEO, Credit Access Asia (CAA), said “I congratulate Mr.Gopinath and Mr. Vita on their appointment to the Board of Grameen Koota. I wish them well in their new roles which give them the opportunity to shape new possibilities.” The CAA Group provides financial services to social businesses in India, Indonesia and the Philippines. It is a majority shareholder and investor in Grameen Koota.
About Grameen Koota
Grameen Koota Financial Services Pvt. Ltd. (Grameen Koota) is an NBFC-MFI registered by the Reserve Bank of India. Grameen Koota serves over 17 lakh clients in 96 districts in the five states of Chhattisgarh, Madhya Pradesh, Maharashtra, Tamil Nadu and Karnataka through a network of 393 branches. Grameen Koota’s financial and non-financial services are designed for poor and low-income households, particularly women in rural India. Its financial products include microcredit for its customers’ life-cycle needs, while its non-financial services include affordable healthcare, water & sanitation awareness programs, customer education and financial literacy
Wipro Launches Silicon Valley Innovation Center in Mountain View
Wipro Limited (NYSE: WIT, BSE: 507685, NSE: WIPRO), a leading global information technology, consulting, and business process services company, today announced the launch of a multi-million dollar Silicon Valley Innovation Center in Mountain View, California. This state-of-the-art R&D and incubation hub is designed to develop and showcase next-generation technologies and solutions for enterprises.
Wipro has been making investments in emerging technologies so as to enable clients to become future-ready in this era of digital transformation. Wipro’s Silicon Valley Innovation Center will serve as a showcase for the ‘Art of The Possible’ and demonstrate cutting-edge enterprise applications based on disruptive technologies such as Artificial Intelligence, Virtual Reality, Hyper Spectral Imaging, Machine Vision and Collaborative Robotics & Automation, to solve real-world business challenges faced by enterprises. The center will also serve as a value creator for technology start-ups, small and medium enterprises and entrepreneurs, enabling them to showcase and integrate their technology capabilities with that of Wipro and participate in the larger innovation ecosystem.
The center has also incubated a ‘Digital Pod’ and features a ‘Rapid Proto Lab’. The pod is purpose-built for Wipro’s digital strategy, design and engineering teams to work in a collaborative and adaptive workspace, along with clients. Wipro has 14 digital and design pods across the globe, including London, New York, Copenhagen, Oslo, Stockholm, Madrid, Munich, Sydney, Tel Aviv, Bangalore and Tokyo. Clients will also have access to immersive experiences and the ability to experiment with futuristic technologies in the ‘Rapid Proto Lab’.
Wipro’s Silicon Valley Innovation Center expects to finalize technology research partnerships with leading universities in the United States during the course of the current financial year. The center will also support the company’s collaboration with technology start-ups in the Bay Area through Wipro Ventures, the strategic investment arm of Wipro Limited. Wipro Ventures is a USD 100 million fund that focuses on investing in early- to mid-stage startups and leverages Wipro’s global reach and market knowledge to accelerate the growth of its portfolio companies.
Abidali Z. Neemuchwala, Chief Executive Officer & Executive Director, Wipro Limited said, “Our new center imbued with the culture, spirit and creative energy of Silicon Valley, the cradle of technological innovation, will design and deliver path-breaking solutions for our clients. Wipro is committed to working more closely with start-ups, academia and leading technology companies in the Bay area to help our clients achieve their desired digital transformation outcomes.”
During the past decade, Wipro has invested over USD 2 billion in the United States. Wipro has over 40 facilities across 23 states in the U.S. The company has been focused on creating jobs in the U.S. underscoring its strategy to build a deep reservoir of local talent based out of centers close to its clients.
During the first six months of this calendar year, Wipro hired over 1,600 employees and today employs over 14,000 in the U.S., a majority of whom are U.S. locals. Wipro will continue to recruit from top universities and also hire experienced professionals to build on the momentum of hiring locally in the United States.
About Wipro Limited
Wipro Limited (NYSE: WIT, BSE: 507685, NSE: WIPRO) is a leading global information technology, consulting and business process services company. We harness the power of cognitive computing, hyper-automation, robotics, cloud, analytics and emerging technologies to help our clients adapt to the digital world and make them successful. A company recognized globally for its comprehensive portfolio of services, strong commitment to sustainability and good corporate citizenship, we have over 160,000 dedicated employees serving clients across six continents. Together, we discover ideas and connect the dots to build a better and a bold new future.
Forward-looking and Cautionary Statements
Certain statements in this release concerning our future growth prospects are forward-looking statements, which involve a number of risks, and uncertainties that could cause actual results to differ materially from those in such forward-looking statements. The risks and uncertainties relating to these statements include, but are not limited to, risks and uncertainties regarding fluctuations in our earnings, revenue and profits, our ability to generate and manage growth, intense competition in IT services, our ability to maintain our cost advantage, wage increases in India, our ability to attract and retain highly skilled professionals, time and cost overruns on fixed-price, fixed-time frame contracts, client concentration, restrictions on immigration, our ability to manage our international operations, reduced demand for technology in our key focus areas, disruptions in telecommunication networks, our ability to successfully complete and integrate potential acquisitions, liability for damages on our service contracts, the success of the companies in which we make strategic investments, withdrawal of fiscal governmental incentives, political instability, war, legal restrictions on raising capital or acquiring companies outside India, unauthorized use of our intellectual property, and general economic conditions affecting our business and industry. Additional risks that could affect our future operating results are more fully described in our filings with the United States Securities and Exchange Commission. These filings are available at www.sec.gov. We may, from time to time, make additional written and oral forward-looking statements, including statements contained in the company’s filings with the Securities and Exchange Commission and our reports to shareholders. We do not undertake to update any forward-looking statement that may be made from time to time by us or on our behalf.
WNS Named a ‘Star Performer’ in Everest Group PEAK Matrix™ for Analytics BPS
WNS (Holdings) Limited (NYSE: WNS), a leading provider of global Business Process Management (BPM) services, today announced that it has been named a ‘Star Performer’ in the 2017 Everest Group PEAK Matrix™ Assessment Report for Analytics Business Process Services (BPS).
“We are delighted to be recognized as a ‘Star Performer’ in the Analytics Business Process Services (BPS) space,” said Keshav R. Murugesh, WNS’ CEO. “WNS has taken big strides towards market leadership in its analytics practice through strategic partnerships, analytics-focused acquisitions, targeted hiring and training programs, and the creation of WNS-proprietary tools, technologies and solutions.”
Of the 18 analytics BPS providers covered in the market report, WNS is one of the three providers that have been rated as ‘Star Performer.’ A ‘Star Performer’ has been defined as a BPS player that has shown significant year-on-year advancement in key attributes such as scale, scope, technology and innovation, delivery footprint, and buyer satisfaction.
“WNS has been successful in expanding its analytics business by adding new logos, which is a proof of its capabilities and expertise in the analytics domain, where out-of-the-box thinking and solutions by service providers are becoming the norm rather than the exception,” said Anupam Jain, Practice Director, Everest Group. “Its investments in building internal capabilities in advanced analytics, developing partnerships with academia, and establishing a breadth of services across multiple industries has enabled WNS to become a Star Performer, and stay competitive in the evolving analytics market.”
Today, WNS’ analytics practice has more than 2,200 professionals serving over 50 global brands. WNS provides a broad spectrum of analytics products and services across areas such as big data, business intelligence and reporting, machine learning, research, marketing, social media, risk, fraud, claims, and customer relationship management.
WNS is able to generate actionable insights and an improved end-customer experience with proprietary, technology-driven analytics solutions. The WNS Analytics practice includes an R&D center focused on innovation and emerging technologies, and strategic training programs such as our MBA program in analytics in association with NIIT University.
WNS (Holdings) Limited (NYSE: WNS), is a leading global business process management company. WNS offers business value to 300+ global clients by combining operational excellence with deep domain expertise in key industry verticals including Travel, Insurance, Banking and Financial Services, Manufacturing, Retail and Consumer Packaged Goods, Shipping and Logistics, Healthcare and Utilities. WNS delivers an entire spectrum of business process management services such as finance and accounting, customer interaction services, technology solutions, research and analytics and industry specific back office and front office processes. As of June 30, 2017, WNS had 34,789 professionals across 52 delivery centers worldwide including China, Costa Rica, India, Philippines, Poland, Romania, South Africa, Sri Lanka, Turkey, United Kingdom and the United States. For more information, visit www.wns.com.
Safe Harbor Provision
This document includes information which may constitute forward-looking statements made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995, the accuracy of which are necessarily subject to risks, uncertainties, and assumptions as to future events. Factors that could cause actual results to differ materially from those expressed or implied are discussed in our most recent Form 20-F and other filings with the Securities and Exchange Commission. WNS undertakes no obligation to update or revise any forward-looking statements, whether as a result of new information, future events, or otherwise.