India To Become 4th Nation Globally With Space Docking Technology

India could soon join an elite club of nations with space docking technology as the Indian Space Research Organisation (ISRO) successfully launched its Space Docking Experiment (SpaDeX) mission, which aims to demonstrate the capability to dock two satellites in orbit. This is a crucial step for India's future space missions, including the planned Bharatiya Antariksh Station (BAS) and lunar missions.
 

With launch of PSLV-C60 rocket, on Monday, December 30, 2024, from the Satish Dhawan Space Centre in Sriharikota, Andhra Pradesh, ISRO has indeed made a significant leap with the successful launch of its SpaDeX mission.

The docking process is expected to take place around January 7, 2025. If successful, India will join an elite group of nations with space docking capabilities, including the United States, Russia, and China. The country could be fourth nation globally to have space docking technology. 

SpaDeX aims to demonstrate the capability to dock two satellites in orbit, a crucial technology for future space missions. Two small satellites, named Chaser and Target, each weighing around 220 kg, were deployed into a 470 km orbit.

The SpaDeX mission objective to demonstrate the technology required for rendezvous, docking, and undocking of two small spacecraft (SDX01, the Chaser, and SDX02, the Target) in a low-Earth circular orbit.

This technology is essential for India's plans to build its own space station, the Bharatiya Antariksh Station (BAS), and for upcoming lunar missions.

The SpaDeX (Space Docking Experiment) mission by the Indian Space Research Organisation (ISRO) is a significant step towards mastering in-space docking technology.

Docking Process

1. Deployment: Both spacecraft are deployed simultaneously into orbit with a small relative velocity.

2. Far Rendezvous: The distance between the two spacecraft increases to 10-20 km.

3. Propulsion System: The Target spacecraft uses its propulsion system to stabilize the separation.

4. Progressive Approach: The Chaser satellite gradually reduces the distance in steps (5 km, 1.5 km, 500 m, 225 m, 15 m, and finally 3 m).

5. Docking: Once within 3 meters, the docking process Begins.

6. Power Transfer: After docking, electrical power transfer between the two satellites is demonstrated.

7. Undocking: The satellites undock and operate independently for up to two years.

This mission is crucial for India's future space ambitions, including the Gaganyaan manned mission and the Bharatiya Antariksh Station.

Slow-motion liftoff and onboard views! 🚀✨

SpaDeX’s historic mission onboard PSLV-C60 delivers breathtaking visuals, showcasing India’s strides in space exploration. 🌌🛰️

📖 More info: https://t.co/jQEnGi3W2d#SpaDeX #ISRO 🚀
📍 @DrJitendraSingh pic.twitter.com/5eJ6FAiIxI

— ISRO (@isro) December 31, 2024

NASA has been a leader in docking technology since the Gemini program in the 1960s. They continue to use docking technology for the International Space Station (ISS). Roscosmos (Russia) has a long history of expertise in docking technology, dating back to the Soviet era. CNSA (China) or China National Space Administration (CNSA) has successfully demonstrated docking technology with its Shenzhou spacecraft.

India-US Researchers Creates Quantum-Safe Video Encryption Framework to Tackle Deepfake-like Threats

Researchers from India and the USA have created a quantum-safe video encryption framework to tackle modern cyber threats like deepfakes and data manipulation. This innovative framework combines quantum computing's inherent randomness with advanced SSL-encrypted HTTP transmission, providing unmatched security and efficiency.

The research, led by experts from Florida International University and the National Forensic Sciences University, has been featured in IEEE Transactions on Consumer Electronics.

This framework integrates quantum encryption with classical video transmission methods to enhance security against evolving cyber threats.

This breakthrough is expected to significantly enhance video communication security, especially for sensitive communications in defense, government, and military operations.

Dr. Naveen Kumar Chaudhary from the National Forensic Sciences University in India collaborated with Dr. S.S. Iyengar and Dr. Yashas Hariprasad from Florida International University has led to the development of this quantum-safe encryption framework.

A promising step towards a more secure digital future, the framework is based on hybrid quantum video encryption, which uniquely combines the power of quantum encryption with classical video transmission techniques, ensuring robust protection against potential quantum computing threats.

The Quantum Encryption utilizes the principles of quantum mechanics to create encryption keys that are virtually impossible to crack using classical computing methods.

The framework incorporates advanced SSL-encrypted HTTP transmission to maintain high-quality video communication. It Merges the strengths of both quantum and classical encryption, offering a dual layer of security.

It has varied cybersecurity applications with an aims to protect sensitive video communications, particularly in sectors like defense, government, and military.

Designed to withstand the advancements in quantum computing, making it a long-term solution for secure video transmission, the framework is a significant leap forward in cybersecurity, addressing the growing concerns over deepfakes and data manipulation.

It's a promising development that could reshape the landscape of secure digital communication. The research has been funded by U.S. Army DEVCOM Army Research Laboratory and U.S. National Science Foundation (NSF), an independent agency of the United States federal government. 

Tackling Deepfakes

The quantum-safe encryption framework tackles deepfake threats by leveraging the inherent randomness of quantum computing and advanced SSL-encrypted HTTP transmission. Here's how it works:

1. Pseudorandom Keys: The framework uses quantum-generated pseudorandom keys to encrypt video streams. These keys are extremely difficult to predict or replicate, making it challenging for deepfake creators to manipulate the video content.

2. Quantum-Safe Protocols: Individual frames of the video are secured using quantum-safe protocols, ensuring that each frame is protected against tampering.

3. Enhanced Security: By combining quantum encryption with classical methods, the framework provides a dual layer of security, significantly outperforming current methods.

4. Authenticity and Integrity: The encryption ensures the authenticity and integrity of video communications, making it difficult for malicious actors to create convincing deepfakes.

This approach is particularly effective in sensitive sectors like defense, government, and military operations, where the authenticity of video communications is crucial.

Adani to Completely Exit Adani Wilmar JV, Sells Shares for $2 Bn

Wilmar International has announced that it has entered into an agreement to acquire a significant stake in Adani Wilmar Limited. Specifically, Lence Pte. Ltd., a wholly-owned subsidiary of Wilmar International, will acquire up to 31.06% of the existing paid-up equity share capital of Adani Wilmar.

Additionally, Adani Enterprises Limited (AEL) will divest about 13% of its shares in Adani Wilmar to meet minimum public shareholding requirement.

This move will allow AEL to completely exit its 44% holding in Adani Wilmar, and the proceeds from the sale will be used to boost investments in core infrastructure platforms like energy, utility, transport, and logistics.

The proceeds from the sale of Adani Enterprises' stake in Adani Wilmar, estimated to be over USD 2 billion, will be used to boost investments in core infrastructure areas like energy, utilities, transport, logistics, and other important sectors.

The financials of Adani Wilmar Limited are quite impressive. As of December 27, 2024, the market value of Adani Wilmar was approximately Rs 42,785 crores ($5 billion). In the first half of the fiscal year 2024-25, Adani Wilmar reported an 18% year-on-year revenue growth to ₹14,460 crore and a highest ever half-yearly Profit After Tax (PAT) of ₹624 crore.

However, in FY24, the company's EBITDA was down by 29% due to market factors and challenges in Bangladesh, where it is the largest edible oil company.

NTPC and US-based Clean Core Collaborate for Using Thorium-based Nuclear Fuel Tech in India

NTPC Limited, India's largest integrated power company, has partnered with US based Clean Core Thorium Energy (Clean Core) to explore the development and deployment of ANEEL™ fuel for Pressurized Heavy Water Reactors (PHWRs). This collaboration aims to leverage thorium-based nuclear fuel technology to enhance India's energy security and sustainability.

Advanced Nuclear Energy for Enriched Life (ANEEL™) is a new nuclear fuel developed by Clean Core, a Chicago-based company founded by Mehul Shah.

ANEEL™ is a mix of Thorium and Uranium enriched to a certain level, known as High Assay Low Enriched Uranium (HALEU).

The name ANEEL™ honors Dr. Anil Kakodkar, one of India's foremost nuclear scientists.

The collaboration aims to minimize the use of Uranium-235 by leveraging Thorium, which India has in abundance. ANEEL™ can be used in existing Pressurized Heavy-Water Reactors (PHWRs), which are a significant part of India's nuclear fleet.

It was in last month only when Clean Core announced that its patented ANEEL™ fuel has reached a groundbreaking burnup milestone in the Advanced Test Reactor at Idaho National Laboratory. With this, Clean Core's first-of-its-kind, thorium-based ANEEL™ fuel moves a step closer to commercialization.

ANEEL™ can fast-track India's transition to green energy by efficiently utilizing Thorium reserves. Spent ANEEL fuel cannot be used for weapons, enhancing nuclear non-proliferation efforts. It can help India achieve its net-zero target by 2070 and ensure energy security.

Key Objectives:

1. Development and Deployment: Explore the introduction of ANEEL™ fuel in India's PHWRs.
2. Indigenization: Promote local manufacturing and develop a domestic supply chain for ANEEL™ Fuel.
3. Supply Chain for HALEU: Establish logistics for High-Assay Low-Enriched Uranium (HALEU).
4. Uranium Supply with Sovereign Guarantee: Secure uranium supplies for India to support fuel requirements.

Benefits of ANEEL™ Fuel:

• Utilization of Thorium: Uses India's abundant thorium reserves in existing PHWR reactors.
• Waste Reduction: Significantly lowers nuclear waste.
• Energy Security: Enhances India's energy independence.
• Improved Safety: Boosts safety and proliferation resistance.
• Cost Efficiency: Delivers greater energy output while reducing operational costs.

This partnership reflects a commitment to fostering innovation in nuclear energy and ensuring energy sustainability and security.

Earlier in October, Larsen & Toubro also signed a Memorandum of Understanding (MoU) to with Clean Core to collaborate on providing efficient solutions globally in clean energy through CCTE’s patented ANEEL™ fuel. 

RBI to Test CBDC With Its Own Officials

The Reserve Bank of India (RBI) is planning to test its Central Bank Digital Currency (CBDC) by crediting a portion of allowances to the digital wallets of its officers reports Economic Times citing an internal communique to senior officials of the central bank.

The RBI internal communique dated December 27, said, “As a part of scaling up of CBDC retail pilot and to encourage the use of CBDC wallet by the officers of the bank (RBI), it has been decided to credit the reimbursement amount towards internet/data charges to the CBDC wallets of officers…”

A user manual for updating the CBDC wallets has been circulated. The testing phase involves various aspects such as security, transaction speed, and user experience to ensure a smooth rollout.

This move is part of a broader effort to explore the potential of CBDCs and understand how they can be integrated into the existing financial system.

The Reserve Bank of India (RBI) has been actively exploring the concept of a Central Bank Digital Currency (CBDC). Recently, there have been reports about RBI officials conducting tests to understand the potential impact and functionality of a CBDC in the Indian financial system.

These tests are part of a broader initiative to evaluate how a digital currency issued by the central bank could be integrated into the existing monetary framework. The RBI is considering various aspects, including the technological infrastructure, security measures, and the potential economic implications of introducing a CBDC.

Adani Group Incorporates New Company for RE Projects and Renames Dharavi Redevelopment Project

The Adani Group has incorporated a new subsidiary called Adani Green Energy Sixty Eight Limited to focus on renewable energy projects. This move is part of their broader strategy to achieve a 50 GW renewable energy capacity by 2030.

Additionally, they have renamed the Dharavi Redevelopment Project Private Limited (DRPPL) to Navbharat Mega Developers Private Limited (NMDPL). The name change is intended to reflect the company's commitment to building a modern, inclusive, and vibrant community[ However, this decision has faced criticism from the Dharavi Bachao Andolan (DBA), which represents the slum residents.

Here are the details on the two news pieces mentioned above:

1. Adani Group's New Company for Renewable Energy Projects

The formation of a new subsidiary called Adani Green Energy Sixty Eight Limited (AGE68L) will focus on renewable energy generation using wind, solar, and other renewable sources. AGEL aims to achieve a 50 GW renewable energy capacity by 2030. The subsidiary is registered in Gujarat and is part of Adani's broader strategy to enable the clean energy transition.

Here are some key details about AGE68L:

• Objective: The main objective of AGE68L is to generate, develop, transform, distribute, transmit, sell, and supply any kind of power or electrical energy using wind energy, solar energy, or other renewable sources.
• Capital: The authorised capital and paid-up capital of AGE68L is kept at ₹1,00,000.
• Registration: AGE68L is incorporated in India and registered with the Registrar of Companies in Gujarat, at Ahmedabad.
• Operations: AGE68L is yet to commence its business operations.
• Parent Company: Adani Renewable Energy Holding Nine Limited holds 100% share capital of AGE68L.

AGEL, the parent company, is a major renewable energy company in India, developing, owning, and operating utility-scale, grid-connected solar, wind, and hybrid renewable power plants. AGEL is currently developing a massive 30 GW renewable energy plant at Khavda in Gujarat, which is expected to set a global benchmark for ultra-large-scale renewable energy plants.

2. Renaming of Dharavi Redevelopment Project Private Limited (DRPPL)

The Adani Group has renamed Dharavi Redevelopment Project Private Limited (DRPPL) to Navbharat Mega Developers Private Limited (NMDPL). This change is part of the company's effort to build a modern, inclusive, and vibrant community.

However, the renaming has faced criticism from the Dharavi Bachao Andolan (DBA), which represents the slum residents. They are concerned about potential negative impacts on the residents.

Here are some key details about Navbharat Mega Developers Private Limited (NMDPL):

• Purpose: NMDPL is a special purpose vehicle (SPV) formed as a joint venture between the Government of Maharashtra and the Adani Group.
• Objective: The primary goal is to redevelop Dharavi, one of Asia's largest slums, into a modern, inclusive, and vibrant community.
• Name Change: The name change aims to avoid confusion with the Dharavi Redevelopment Project (DRP), which is the special planning authority of the state government.
• Government Role: The role of the Maharashtra Government remains unchanged, and DRP continues to be the supervising authority for the project.
• Commitment: NMDPL is committed to creating a broader and brighter future for everyone associated with or benefiting from the project.
• Housing: The state government has decided to provide free housing to eligible Dharavi residents and affordable housing to ineligible residents under the Pradhan Mantri Awas Yojana or through a hire-purchase scheme.

The name "Navbharat" means "New India," reflecting the project's potential to shape a better future. The initiative aims to ensure transparency, inclusivity, and the welfare of all stakeholders.

Indian IT CEO Pay Increased 160% in Last 5 Yrs, While Freshers Pay Rises Only 4%

The salaries of top executives at TCS, Infosys, HCLTech, Wipro, and Tech Mahindra have increased by over 160% in the past five years. In contrast, freshers have seen a salary growth of just 4%, from ₹3.6 lakh to ₹4 lakh, according to the data sourced by Moneycontrol.com

The median annual pay for CEOs in FY24 was close to ₹84 crore.

The pay gap between CEOs and freshers is striking. For example, Wipro's ratio stands at 1,702:1, while TCS's ratio is 192:1.

Critics, including former Infosys CFO Mohandas Pai, have raised concerns about the growing disparity and its detrimental effect on economic consumption. Pai highlighted that rewarding top executives generously while freshers remain underpaid is wrong.

The IT sector is grappling with challenges such as high attrition rates and fewer on-site opportunities, which impact compensation structures. Experts point out that while CEO salaries align with global benchmarks, the growing disparity worsens inequality and negatively affects middle-class workers.

This issue has sparked a debate about the fairness of compensation structures in the IT industry and the need for companies to address the growing wage gap.

Pay Gap Ratios

The pay gap in India's IT sector is quite pronounced. Here are some details about the pay gap at the leading Indian IT companies:

1. Tata Consultancy Services (TCS): The CEO-to-fresher pay ratio is 192:1
2. Infosys: The CEO-to-fresher pay ratio is 677:1.
3. HCL Technologies: The CEO-to-fresher pay ratio is 707:1
4. Wipro: The CEO-to-fresher pay ratio is 1,702:1
5. Tech Mahindra: The CEO-to-fresher pay ratio is 1,383:1

These ratios highlight the significant disparity between the compensation of top executives and entry-level employees in the IT sector. Critics argue that this growing wage gap can negatively impact economic consumption and overall employee morale.

Reliance Industries Acquires Tech-driven Oncology Platform Karkinos Healthcare for Rs 375 Cr

Reliance Industries, through its wholly-owned subsidiary Reliance Strategic Business Ventures (RSBVL), has acquired the oncology-focused healthcare platform Karkinos Healthcare for ₹375 crore.

Incorporated in July 2020, Karkinos Healthcare is an oncology-focused healthcare platform that specializes in early cancer detection and treatment using technology-driven solutions.

Here are some key details about the acquisition:

• Date of Acquisition: The acquisition was completed on December 27, 2024.
• Nature of Business: Karkinos specializes in early cancer detection and treatment using technology-driven solutions.
• Turnover: Karkinos reported a turnover of ₹22 crore for the fiscal year 2022-23.
• Investors: Prominent past investors included Tata Sons, Reliance Digital Health Ltd, Mayo Clinic, Sundar Raman, and Ravi Kant.
• Resolution Plan: The resolution plan for Karkinos was approved by the National Company Law Tribunal (NCLT), Mumbai Bench, without requiring additional regulatory approvals.

Karkinos partners with hospitals to provide oncology services such as testing and radiation therapy. The company is involved in cutting-edge cancer research and provides financial guidance and community support to cancer patients.

Karkinos is setting up a 150-bed multispecialty cancer hospital in Imphal, Manipur.

The acquisition aims to expand Reliance's health services business portfolio and enhance its capabilities in cancer care.

To recall, earlier this month, Infosys has acquired a 20% minority stake in the healthcare deep-tech startup 4baseCare, for Rs 8.3 crore,which too is focused on developing oncology solutions.

In this month only, Bengaluru-based HealthCare Global Enterprises Limited (HCG), one of the largest cancer care networks in India, and consulting giant Accenture have announced a collaboration to accelerate cancer research and care using advanced AI technologies, including generative AI and deep learning on multi-dimensional and multi-omic patient data. 

JSW Energy Acquiring Temasek-Co-owned O2 Power for $1.47 Bn

JSW Neo Energy, a wholly-owned subsidiary of JSW Energy, has signed a definitive agreement to acquire O2 Power Pooling's renewable energy platform for an enterprise valuation of $1.47 billion (approximately ₹12,468 crore). 

This acquisition, which is expected to be completed by May 26, will significantly boost JSW Energy's renewable energy capacity and help it achieve its target of 20 GW capacity by 2030.

The acquisition is JSW Energy's largest since its inception and positions the company as a leading player in India's energy sector.

The acquisition is subject to approval by the Competition Commission of India (CCI) and other customary regulatory clearances. The O2 Power platform boasts a majority of its capacity tied up under long-term power purchase agreements (PPAs) with high-credit-rated off-takers.

O2 Power Pooling is a renewable energy platform jointly established by EQT Infrastructure and Temasek, a Singaporean sovereign wealth fund.

The O2 Power platform includes 2,259 MW of operational capacity, 1,463 MW under construction, and 974 MW in the pipeline, all scheduled to be commissioned by June 2027. This acquisition will increase JSW Energy's locked-in generation capacity by 23%, from 20,012 MW to 24,708 MW.

It's a major step for JSW Energy in expanding its renewable energy portfolio and strengthening its position in India's energy sector.

The O2 Power platform is spread across seven resource-rich states in India, and the acquisition will increase JSW Energy's locked-in generation capacity by 23%, from 20,012 MW to 24,708 MW.

Japan Airlines Faces Cyberattack Disrupting More Than 20 Domestic Flights

Japan Airlines faced a cyberattack that disrupted more than 20 domestic flights. The attack, which occurred on December 26, 2024, was identified as a denial-of-service (DDoS) attack designed to overwhelm the airline's network with massive data transmissions. Ticket sales for same-day flights were temporarily suspended.

Fortunately, the airline managed to halt the attack and restore its systems within hours, ensuring that flight safety was not compromised.

The cyberattack disrupted both internal and external systems, leading to delays of over 30 minutes for 24 domestic flights. Despite the disruption, Japan Airlines confirmed that no customer data was compromised. The incident highlights the ongoing challenges and vulnerabilities in cybersecurity, especially as Japan strengthens its defense strategies and collaborations with international partners.

Japan Airlines took immediate action by shutting down the affected router to prevent further damage. Systems were restored later in the day, and flights resumed normally by December 27.

This incident is a stark reminder of the importance of robust cybersecurity measures in today's digital age.

In the past year, Japan has experienced several high-profile cyberattacks.To recall, in June 2024 Japanese space agency, JAXA, reported a series of cyberattacks since 2023. Although no critical data related to rockets, satellites, or defense systems was compromised, the agency took steps to bolster its cybersecurity measures.

Last year, a cyberattack paralyzed operations at a container terminal in Nagoya city of Japan, for three days. This incident highlighted the vulnerabilities in Japan's digital infrastructure.

In 2018, Cathay Pacific Airways of America suffered a data breach that compromised the personal data of 9.4 million customers, including credit card information and passport details. The breach continued until May 2020.

These incidents underscore the urgent need for enhanced cybersecurity measures in the aviation industry to protect operations, passenger safety, and organizational reputation.

Greaves Electric Mobility Files DRHP With SEBI; Aims to Raise Rs. 1000 Crore via Fresh Issue

Greaves Electric Mobility Limited, an EV manufacturer known for its Ampere, Eltra and Ele brands and offering a complete suite of vehicles across electric two-wheeler (E-2W) and three-wheeler (3W) segments catering to both B2C and B2B customers for personal and commercial purposes, has filed the draft red herring prospectus (DRHP) with capital markets regulator, SEBI to raise funds through an initial public offering (IPO).

According to the draft red herring prospectus, the Initial Public Offering of the company consists of a Fresh Issue of equity shares aggregating up to Rs. 1000 crores and an Offer for Sale of up to 18,93,98,200 Equity Shares (18.9 crore shares) by the Selling Shareholders. Under the offer for sale component, Greaves Cotton Limited, the Promoter Selling Shareholder will divest 5.1 crore equity shares and Abdul Latif Jameel Green Mobility Solutions DMCC, the Investor Selling Shareholder will divest 138,398,200 Equity Shares (13.8 crore shares).

The company, in consultation with the BRLMs, may consider a Pre-IPO placement aggregating up to Rs. 200 crores, prior to the filing of the Red Herring Prospectus. If the Pre-IPO placement is completed, the fresh issue will be reduced to the extent of such Pre-IPO placement.

Greaves Electric Mobility Limited (GEML) which was established in 2008 proposes to utilize the Net Proceeds of the Fresh Issue towards investment for:

• Product & technology development and enhancing capabilities at its Technology Centre in Bengaluru (Rs. 375.2 crores); 
• Development of in-house battery assembly capabilities (Rs. 82.9 crores);
• Funding expansion of the manufacturing capacity of Bestway Agencies Private Limited (wholly owned Material Subsidiary) (Rs. 19.8 crores); funding expansion of the manufacturing capacity of MLR Auto Limited (a Material Subsidiary) (Rs. 38.2 crores); 
• Increasing company’s stake in MLR through acquisitions (Rs. 73.6 crores); increase digitization and deployment of information technology infrastructure (Rs. 27.8 crores); 
• Funding inorganic growth through unidentified acquisitions and general corporate purposes.

GEML’s vehicle portfolio caters to a diverse customer base, with its offerings spanning E-2W across all three segments - High Speed e-Scooters, City Speed e-Scooters and Low Speed e-Scooters, with models for B2C and B2B use cases, and 3Ws which includes products across the entire spectrum of 3W mobility, which includes electric three-wheelers, internal combustion engine three-wheelers (diesel or CNG) and e-rickshaws, with models for cargo and passenger use cases.

As of September 30, 2024, GEML operated three manufacturing facilities in strategic locations in Ranipet (Tamil Nadu), Greater Noida (Uttar Pradesh) and Toopran (Telangana). The company’s revenue from operations as of Fiscal 2024 was Rs. 611.8 crores and Rs. 302.2 crores for the six months ended September 30, 2024.

Motilal Oswal Investment Advisors Limited, IIFL Capital Services Limited and JM Financial Limited are the book running lead managers to the issue.

PLI Scheme Drives Electronics Goods to Become 3rd on India's Top Export Items List

In a first, electronics goods have become the fastest-growing segment in India's export basket. This growth is largely driven by the Production-Linked Incentive (PLI) scheme, which has attracted global giants like Apple and Samsung to expand their production in India.

In the first eight months of FY25, electronics exports surged by 28% to $22.5 billion, moving up from the sixth position to the third spot among India's top export items. Smartphones alone accounted for a 45% increase, contributing significantly to this growth

As mentioned, electronics exports surged by 28% to $22.5 billion in the first 8 months of FY25, up from $17.66 billion during the same period in FY24. This remarkable growth has moved electronics goods from the sixth position to the third spot among India's top export items.

This development showcases India's growing capabilities in the electronics sector.

Smartphones have been a major driver of this growth, with exports increasing by 45% to $13.11 billion. Smartphones now account for 58% of total electronics exports, and this share is expected to reach 60-65% by the end of FY25.

The success of the Production-Linked Incentive (PLI) scheme has attracted global giants like Apple, Samsung, Foxconn, Pegatron, and Tata Electronics to expand their production in India. This has significantly boosted smartphone exports.

Exports of consumer electronics, solar modules, desktops, and routers have also recorded significant growth.

With the establishment of semiconductor manufacturing capacities in India, electronics exports are expected to further accelerate. The Union Cabinet recently approved a proposal by Kaynes Semicon to set up a semiconductor unit in Sanand, Gujarat, with an investment of Rs 3,307 crore.

These developments highlight India's growing capabilities in the electronics sector and its potential to become a major player in the global electronics market.

Meanwhile, engineering goods, valued at $56.24 billion, continue to be the largest export category. Petroleum products, with worth $36.56 billion, hold the second spot.

Blackstone Backed Ventive Hospitality Ltd Raises ₹ 719.55 Cr from 26 Anchor Investors at the Upper End of the Price Band at ₹643 Per Equity Share

Blackstone backed Ventive Hospitality Limited, has allotted 1,11,90,513 Equity Shares to 26 anchor investors and raised ₹ 719.55 Crores ahead of company’s proposed IPO at the upper end of the price band at ₹ 643 per equity share (including premium of ₹ 643 per equity shares) with face value of ₹ 1 per equity share. The anchor has received a 2X subscription.

Out of the total allocation of 1,11,90,513 Equity Shares to the Anchor Investors, 48,21,122 Equity Shares(i.e. 43.08% of the total allocation to Anchor Investors) were allocated to 4 domestic mutual funds through a total of 8 schemes.

The anchor received strong demand from mutual funds, insurance companies, long only funds, sovereign funds and domestic wealth funds. It is an optimum mix of domestic and foreign investors.


Few of the marquee investors include Government Pension Global Fund, Allspring Global Investment LLC, Tata Absolute Return Fund, Quant Mutual Fund, Aditya Birla India Fund, SBI General Insurance Company Limited, SBI Life Insurance Company Limited, Nuvama, JM Financial Mutual Fund and 360 One Income Opportunities Fund.

The total offer size of equity shares (face value of Rs. 1 each) aggregating up to Rs. 16,000 million comprises a Fresh Issue of aggregating up to Rs. 16,000 million (“Total Offer Size”). The Company proposes to utilize the Net Proceeds towards funding the following objects – the repayment/prepayment, in part or full, of certain of borrowings availed by the Company including payment of interest accrued thereon.

JM Financial Limited, Axis Capital Limited, HSBC Securities and Capital Markets (India) Private Limited, ICICI Securities Limited, IIFL Securities Limited, Kotak Mahindra Capital Company Limited and SBI Capital Markets Limited are the Book Running Lead Managers to the issue.

ISRO to Deploy Record 24 Scientific Instruments Onboard POEM-4

ISRO is set to revolutionize space technology with its POEM-4 (PSLV Orbital Experimental Module-4) mission. This mission, part of the PSLV-C60/SpaDeX launch, will deploy a record 24 scientific instruments into orbit. This is a significant increase from previous missions, with POEM-3 hosting only 8 payloads.

POEM-4 will carry a total of 24 payloads, including 14 from ISRO centers and 10 from non-government entities (NGEs) like academia and startups.

The 24 payloads include a mix of projects from ISRO, academia, and startups. Some of the experiments focus on robotics, such as a walking robotic arm and a debris-capturing robotic manipulator. Others involve advanced sensors, green propulsion systems, and biological experiments to study the impact of spaceflight on organisms.

This mission aims to test and validate technologies for future space missions, including India's space station. It's an exciting step forward for ISRO and the broader space community.

ISRO's official announcement provides more details about the experiments to conducted aboard POEM-4. Here are some highlights:

• Seed Germination: One of the experiments involves growing cowpea seeds in a closed-box environment to study seed germination and plant sustenance in space.
• Debris Capture: A robotic manipulator will demonstrate the capturing of tethered debris, which is crucial for maintaining a clean space environment.
• Green Propulsion: The mission will test green propulsion systems, such as hydrogen peroxide-based thrusters, offering a safer alternative to traditional fuels.
• Space Docking: The mission includes launching two small spacecraft, "Chaser" and "Target," to demonstrate space docking technologies essential for India's future space station.

These experiments aim to validate various technologies and concepts for future space missions, making POEM-4 a significant step forward in space research.

Top–10 Payments Trends for 2025

The ongoing transformation of the payments industry, driven by technological advancements and the need for greater efficiency, security, and sustainability, the year 2023-24 saw varied trends.

From the rise of decentralized finance (DeFi) and Artificial Intelligence (AI) to Quantum-Secure Encryption and Biometric Authentication, the year 2023-24 witnessed various technological advancements.

Considering the ongoing evolution of the payments industry, driven by technological advancements and the need for greater efficiency and security, here are the top 10 payments trends for 2025, as highlighted by industry experts:

1. Outsmarting AI–Fraudsters with AI:

Generative AI is being used to combat cybercrime, with companies deploying AI-driven fraud prevention tools to predict and neutralize threats in real time.

Fraudsters are increasingly using AI to create sophisticated scams, such as deepfake videos and personalized phishing messages. However, the same technology is being harnessed to combat these threats.

For instance, Mastercard's Decision Intelligence Pro uses generative AI to analyze 1 trillion data points in less than 50 milliseconds to predict whether a transaction is genuine. This has boosted fraud protection rates significantly. Similarly, AI-powered fraud detection tools are being used to analyze vast amounts of data in real time, helping businesses and individuals stay ahead of fraudsters. 

2. Empowering Small Businesses with Digital Tools:

Centralized platforms are providing small businesses with tools to automate tasks, launch personalized marketing campaigns, and gain actionable insights.

3. Unified Commerce:

Unified commerce, also known as omnichannel commerce, refers to the integration of all retail channels to provide a seamless shopping experience for customers. It ensures that customers have a consistent experience across all channels, whether they are shopping online, in-store, or through a mobile app.

Unified commerce is transforming the retail landscape by merging online and offline channels into a cohesive system that enhances customer satisfaction and operational efficiency.

In Unified Commerce, retailers use integrated systems to manage inventory, orders, customer data, and payments in real-time. This integration allows for better inventory management and reduces the risk of stockouts or overstocking. It allows for flexible fulfillment options such as buy online, pick up in-store (BOPIS), ship from store, and curbside pickup, catering to customer preferences and improving convenience.

4. Digital Identity on Demand:

Biometrics and passkeys are replacing traditional passwords, offering enhanced security and convenience.

Digital Identity on Demand refers to the ability to access and verify digital identities in real-time, providing secure and seamless authentication for various services. Using biometrics like fingerprints, facial recognition, or iris scans for identity verification. This method is highly secure and convenient for users.

Digital versions of driver's licenses stored on mobile devices, allowing for quick and secure verification during transactions or identity checks.

Technologies that minimize the collection of personal data while still providing robust identity verification, such as zero-knowledge proofs.

Zero-knowledge proofs (ZKPs) are cryptographic methods that allow one party to prove to another party that a statement is true without revealing any additional information about the statement itself. ZKPs are widely used in blockchain technology to enhance privacy and security. For example, zk-SNARKs (zero-knowledge succinct non-interactive arguments of knowledge) are used in cryptocurrencies like Zcash to enable private transactions.

ZKPs must satisfy two properties: soundness (if the statement is false, no cheating prover can convince the verifier otherwise) and completeness (if the statement is true, the honest prover can convince the verifier.

These advancements are making digital identity verification more secure, efficient, and user-friendly.

5. Simplifying B2B Payments:

The evolution of B2B payments is accelerating, making transactions smoother and more efficient. The evolution of B2B (Business-to-Business) payments has been remarkable over the past few decades, driven by technological advancements and changing business needs.

Virtual cards are becoming more popular in the B2B sector, offering secure payment options and revenue-generating opportunities.

AI is being used to automate and optimize payment processes, detect fraud, and provide personalized payment experiences. Machine learning algorithms can analyze transaction patterns to improve efficiency and security.

Advanced security measures, such as multi-factor authentication, tokenization, and biometric authentication, are being employed to protect sensitive financial data.

Open banking initiatives and APIs are enabling seamless integration between financial institutions and non-financial businesses, allowing for more flexible and efficient payment solutions.

6. Embedded Finance:

Businesses are embedding financial products directly into their ecosystems, offering seamless financial services.

Embedded finance is a rapidly growing trend where financial services are integrated into non-financial platforms and applications.

For example, a retail app might offer a "Buy Now, Pay Later" option at checkout.

Companies like Stripe and Plaid offer APIs that enable non-financial businesses to integrate banking services into their platforms. This allows users to access financial services seamlessly within the tools and services they already use.

An another example of embedded finance is White-Label Neobanking where businesses launch their own branded financial products without building the infrastructure from scratch. This is often done through partnerships with licensed banks and technology providers.

Embedded finance platforms can facilitate real-time transactions, reducing delays associated with traditional banking. For instance, DailyPay allows workers to access their earned wages instantly through their employer's app.

7. AI-Powered Payments:

AI is transforming fraud prevention, personalized checkout experiences, and customer service in payments.

Mastercard uses AI to analyze billions of historical transactions to identify patterns and detect potential fraud in real-time. This helps in minimizing payment fraud while reducing friction for genuine customers. PayPal has an AI assistant named "PayPal Claude" that handles over 30 million customer requests annually. Mobile wallets like Apple Pay and Google Wallet use AI to enhance security and personalize user experiences.

Companies like Ripple use AI to facilitate cross-border payments by optimizing transaction routes and reducing processing time.

8. Sustainability:

Sustainability is becoming a key focus, with companies adopting eco-friendly practices in their payment systems. For example, Digital wallets or mobile payments significantly reduced the use of physical credit and debit cards, thereby cutting down on plastic waste.

Services like Paytm, BHIM UPI in India and M-Pesa in Kenya allow users to make payments via their mobile phones, reducing the need for physical banking infrastructure and promoting financial inclusion.

Some companies are producing payment cards made from recycled materials or biodegradable plastics to reduce environmental impact.

9. Cross-Border Payments:

Advances in technology are making cross-border payments faster and more accessible.

Countries like China, Thailand, Hong Kong, the UAE, and Saudi Arabia are collaborating on Project mBridge, which uses distributed ledger technology (DLT) to enable direct interbank transactions in local currencies.

Tokenized ecosystems are becoming more prominent, with initiatives like the Bank for International Settlements' (BIS) Project Agorá exploring how tokenized commercial bank deposits and wholesale CBDCs can coexist on a unified Ledger.

10. Super Apps:

Apps that offer a wide range of services, including payments, are becoming more popular. Think of it as a "Swiss army knife" for apps, combining functionalities like messaging, payments, e-commerce, social networking, and more.

Super apps are gaining popularity because they provide a seamless and integrated user experience, reducing the need for multiple separate apps. Alipay, Wechat and Grab are examples of such Super Apps.

India has seen a rise in super apps, offering a wide range of services within a single platform. Some of the notable examples are Tata Neu, Paytm, PhonePe and Clap Messenger.

Suzuki to Invest in NDDB Subsidiary to Setup Biogas Plants in India

Suzuki Motor Corporation has signed an agreement to invest in NDDB Mrida Limited, a wholly owned subsidiary of the National Dairy Development Board (hereinafter, NDDB), through Suzuki R&D Center India Private Limited, a wholly owned subsidiary of Suzuki in India.

A signing ceremony was held at NDDB headquarters in Anand, Gujarat, on Wednesday, with NDDB’s Executive Director S Rajeev, Suzuki’s President Toshihiro Suzuki and main Indian dairy industry in attendance.

The biogas plants will utilize cow dung to produce biogas, which will then be purified and compressed to generate compressed biomethane gas for vehicles. This project aims to promote environmental conservation and agricultural development while providing clean energy.

Suzuki Motor Corporation plans to invest over ₹250 crores (approximately $30 million USD) in setting up five biogas CNG plants in the Banaskantha district of Gujarat, India. These plants are expected to be operational by 2025 and will contribute to Suzuki's goal of achieving carbon neutrality in India.

It's a significant investment that will help promote sustainable energy solutions and support rural mobility services using biogas.

Mrida is a wholly owned subsidiary of NDDB, which was established in July 2022 to promote environmental conservation and agricultural development. The company establishes and operates biogas plants by using cow dung in India. Suzuki plans to expand its biogas business by establishing and operating biogas plants in cooperation with dairy cooperatives across India through Mrida.

Suzuki is also promoting rural mobility services using biogas fuel for CNG vehicles. This initiative aims to provide clean and affordable transportation in rural areas, starting with the Banaskantha district in Gujarat. In July this year, Suzuki concluded a three-party MoU for the basic agreement between Suzuki R&D Center India Private Limited, a wholly owned subsidiary of Suzuki in India, National Dairy Development Board (NDDB), and Banas Dairy (Headquarters: Banaskantha district, Gujarat) to setup the 5th biogas production plant as well as to promote rural mobility service utilizing biogas, which would contribute toward realizing carbon neutrality in India.

Notably, Suzuki has also signed agreements with Amul Dairy in Anand and Dudhsagar Dairy in Mehsana to establish additional biogas plants. These plants will further expand Suzuki's biogas business in Gujarat.

Italian Oil Giant Switches On €100 Mn Supercomputer to Find New Sources of Oil and Gas

On the day of Christmas this year, Italian energy giant Eni has switched-on its HPC6 supercomputer, which is one of the most powerful in the world. This supercomputer  with over €100 million investment, significantly boosts Eni's computational capacity, enhancing their ability to explore and develop oil and gas reservoirs.

Supercomputers process seismic data to create detailed images of the subsurface. This helps identify potential oil and gas reservoirs. Supercomputer like Eni's HPC6 system simulate how oil and gas reservoirs behave over time, helping to optimize extraction methods and improve recovery rates.

The HPC6 system is designed with advanced energy efficiency standards and a new liquid cooling system, making it both powerful and sustainable.

Eni's HPC6 supercomputer is housed in their Green Data Center located in Ferrera Erbognone, a small town in the province of Pavia, Italy. This facility is known for its advanced energy efficiency and sustainability features, including a liquid cooling system that dissipates 96% of the heat generated by the supercomputer.

Completed & Launched in November this year, Eni's HPC6 supercomputer has made an impressive debut by ranking fifth on the TOP500 list. This list ranks the world's most powerful supercomputers, and HPC6's performance is remarkable, achieving a peak computational power of 606 PFlop/s (over 600 quadrillion mathematical operations per second.

It's also noteworthy that HPC6 is the first industrial-use supercomputer to make it into the top 5, and it's the only non-US system among the top 5.

Supercomputers use advanced algorithms to predict the location of untapped resources, reducing the risk and cost of exploration. Such supercomputers monitor environmental impacts and help develop more sustainable extraction methods.

By leveraging these powerful computational tools, companies can explore more efficiently and responsibly. It's a fascinating intersection of technology and natural resource management.

Several companies in the oil and gas industry are leveraging supercomputers for exploration and extraction. In August 2020, Total's Pangea III supercomputer, one of the most powerful in the industry, provided immense computational power for seismic imaging and reservoir simulation.

UK oil company BP uses supercomputers for seismic data processing and reservoir modeling to enhance exploration and production efficiency.

American energy corporation Chevron employs high-performance computing for various tasks, including seismic imaging and reservoir management.

Leading technology provider for the oil and gas industry, Schlumberger, which is known for its technological innovations, uses supercomputers for advanced reservoir characterization and simulation.

Indian Card Games Back to Life in the Smartphone Age

There is a miraculous event taking on in the busy streets of contemporary India. Classic card games that were previously played by families in courtyards illuminated by brass lamps are reviving in the digital era, played between the taps and swipes of smartphones. Andar bahar online game may be one of well-known traditional Indian card games transferred to the digital universe, but there is a whole other universe of games just waiting for their time to shine in the digital arena.

Indian Card Gaming's Best Kept Secrets

Although Teen Patti and Rummy are the most well-known card games from India, few people know that the country's history of card games goes far deeper. The gaming traditions that have shaped social interactions across the subcontinent for centuries include games like Ganjifa, an ancient round-card game once played in royal courts, and Kavidi, a game from Tamil Nadu, as well as Dehla Pakad, a game from Punjab.

The impact these events have on local cultures and beliefs is what really draws spectators in. As an example, consider the game Thunee, which originated among Indian communities in South Africa but spread around the world via indentured workers and became a special cultural link. The Gujarati game Mendikot is another good example; players negotiate and form strategic alliances, reflecting the region's commercial history.

An Uphill Battle

Adapting these classic games for mobile devices is fraught with difficulties that no one has yet solved. One of the most important aspects of games like Dehla Pakad is understanding your opponents' facial expressions; how can this be captured digitally? To model these complex exchanges, some forward-thinking programmers are experimenting with AI-driven emotion recognition and inventive use of emoji.

Adapting regional rule differences presents an additional intriguing challenge. The rules of several classic Indian card games can vary not only from region to region, but even from street to street. It’s critical that mobile adaptations find ways to incorporate this adaptability while maintaining principles of fair play. To allow players to create and share their own unique versions of the rules, some developers are considering community-driven rule customization tools.

Cultural Preservation in Code

A far higher purpose is served by digitizing these games than just providing enjoyment. Stories, mathematical principles, and social traditions embedded in traditional card games are at danger of vanishing with the game itself. Developers are effectively making live museums of cultural history by porting these games to mobile platforms.

Think about how games like Ganjipha taught complicated probability calculations through gaming before formal mathematics instruction became commonplace; these games contain mathematical ideas. Playing games for fun may now be a chance to gain mathematical knowledge with the help of modern digital versions that make these learning components more evident.

Community Building

The possibility that classic card games may bring people of different generations together is what makes their return to mobile devices so intriguing. These video game re-creations provide a sense of familiarity and comfort to grandparents who may otherwise feel disconnected from technology. At the same time, via a medium that they can relate to, young players learn about their ancestry.

Incorporating elements that promote intergenerational learning is one way that certain mobile adaptations are expanding on this community-building component. Keeping the social fabric that made these games unique is possible with features like in-game lessons read by older community members, voice chat options customized for regional languages, and the ability for veteran players to assist beginners.

Financial Gain via Cultural Gaming

For India's burgeoning mobile gaming sector, the resurgence of classic card games offers exciting new business prospects. Traditional card games have a long-standing cultural significance in India, which helps them make money, unlike popular smartphone games. Premium features in games that bring players closer to their heritage have a higher willingness to pay from players.

This has created opportunities for smaller, localized game creators who are familiar with the gaming customs of their regions. These companies are more suited than global gaming behemoths to grasp local tastes and habits. One such innovative business strategy is to generate fresh interpretations of old games by working with educational and cultural venues.

Modern Technology Against Age-Old Traditions

New ideas have surfaced to get over the technological obstacles long afflicting the distribution of classic card games to mobile devices. Using machine learning to sift through hundreds of recorded traditional gaming sessions, developers are crafting complex AI opponents who imitate regional playing patterns. In addition to enhancing gameplay, this also aids in maintaining a variety of playing styles and techniques.

Also driving innovation in mobile gaming are the hallmarks of classic Indian card games. Improvements in mobile graphics optimization have been driven by the need to depict complex card designs like those found in Ganjif. More advanced game logic systems have been developed to handle rule deviations.

Social Issues

Digital adaptations of traditional card games address timely and significant societal topics. Is there a way to prevent these activities, which formerly brought families together, from becoming isolated smartphone games? To address this, some programmers are including components that make players feel physically near to one another while playing, such as local multiplayer modes, which work best when all players are in the same room.

Maintaining the social and instructional features of these games is even another difficulty. Conventional card games imparted to kids cultural awareness, teamwork, and friendship. Mobile versions have to keep these features while including contemporary game rules.

What's ahead

Classic Indian card games have triumphantly returned to the mobile age and opened fresh prospects. Combining real-world and digital elements in augmented reality might help to improve already-existing games to unprecedented degrees. Virtual reality may revive old games, whether they are housed in a royal court or a village hall.

Encouragement of these sports offers chances for cultural involvement. Thanks to mobile platforms, which make these games more easily available, players all across the globe may enjoy India's rich gaming legacy. Conventional Indian gaming systems have the power to influence world game design, hence generating amazing cultural hybrids.

Summary

More than just a gaming innovation, the comeback of traditional Indian card games on mobile devices unites, preserves cultural inheritance, and shows how technology could enhance long-standing customs instead of replacing them. The fact that these games are now available on mobile devices serves as a timely reminder that advancements in the gaming industry do not require the abandonment of conventional components. Instead, it may include rethinking ancient wisdom for modern-day success.

Due to the fact that this shift has taken place, we are able to understand how digital advances may help to preserve ancient traditions while simultaneously providing new chances for communication and teaching. In addition to maintenance, more traditional games that have made their way to mobile platforms are undergoing changes that are expanding their reach and demonstrating that traditional gaming knowledge still has a lot to offer the digital world.

Apple in Early Stage of Developing New Doorbell Camera to Foray Smart Home Market

Apple is reportedly working on a smart doorbell camera equipped with Face ID technology. This device is part of Apple's broader push into the smart home market and is expected to launch by late 2025.

This development is part of Apple's strategy to compete with established smart home devices from companies like Amazon and Google.

Apple is also rumored to be developing a smart home hub with a 6-inch touchscreen, similar to Google's Nest Hub and Amazon's Echo Hub, which will integrate Apple Intelligence and support FaceTime.

Notably, Apple already sells Aqara's Smart Video Doorbell G4, a versatile and feature-rich device designed to enhance home security and convenience. The G4 doorbell features on-device facial recognition, allowing you to customize "Welcome Home" scenes for each family member.

The Aqara doorbell supports Apple's HomeKit Secure Video, allowing users to view live and recorded video in the Apple Home app on their iPhones, iPads, and Macs. 

Possible Key features of The Smart-Doorbell

1. Face ID Technology: The doorbell camera will use facial recognition to unlock doors, similar to how Face ID works on iPhones.

2. Secure Enclave Chip: The device will incorporate Apple's Secure Enclave chip to securely store and process biometric data.

3. Proxima Chip: Apple's new wireless networking chip, Proxima, will ensure that Face ID-related images are processed locally on the device.

4. Compatibility: The doorbell camera is expected to work with third-party HomeKit smart locks, expanding its potential user base.

5. iCloud Integration: Data from the doorbell camera will be backed up to iCloud, providing an additional layer of security and potentially boosting Apple's subscription revenues.

This doorbell camera is part of Apple's broader strategy to expand its smart home offerings, including new smart home cameras, displays, and possibly even a smart home control device.

It is to be noted that as of now, Apple hasn't made any official statement regarding the development of a smart doorbell camera with Face ID. The information available comes from reports by industry analysts like Mark Gurman, who mentioned the project in his newsletter.

Besides this, it is reported that the Apple's HomePod mini smart speaker will receive upgrades, including the new Proxima chip for better wireless connectivity and support for the Thread standard, which links smart home products wirelessly.

Further, Apple is also introducing a new operating system called homeOS, which will serve as a common platform for its smart home devices, including the HomePod and Apple TV.

Apple is also working on smart displays and tabletop robots, further expanding its smart home ecosystem.

IndiQube Spaces Ltd Files DRHP for Rs. 850 Crore IPO

IndiQube Spaces Limited, a managed workplace solutions company dedicated to transforming the traditional office experience through comprehensive, sustainable, and technology-driven solutions has filed the draft red herring prospectus (DRHP) with capital markets regulator, SEBI to raise funds through an initial public offering (IPO).

IndiQube is backed by prominent venture capital firm, WestBridge Capital and renowned individual investor, Ashish Gupta with Rishi Das, Chairman, Executive Director and CEO and Meghna Agarwal, COO and Executive Director at the helm.

The IPO of the Bengaluru based company comprises of a Fresh Issue of equity shares aggregating up to Rs. 750 crores and an Offer for Sale (OFS) of equity shares aggregating up to Rs. 100 crores by the Promoter Selling Shareholders – Rishi Das and Meghna Agarwal.

IndiQube Spaces Limited proposes to utilize the Net Proceeds of the Fresh Issue towards funding capital expenditure towards establishment of new centers (Rs. 462.6 crores); repayment or prepayment, in full or in part, of certain borrowings availed by the company (Rs. 100 crores); and general corporate purposes.

The company which was incorporated in 2015, manages a portfolio of 103 centers across 13 cities, covering 7.76 million square feet of area under management (AUM) in super built-up area with a total seating capacity of 172,451 as of June 30, 2024 and has a balanced portfolio of global capability centers (GCCs) and Indian enterprises as part of its clientele.

IndiQube’s clients include GCCs, Indian corporates, unicorns as well as start-ups across sectors like Myntra, upGrad, Zerodha, No Broker, Redbus, Juspay, Perfios, Moglix, Ninjacart, Siemens, Narayana Health to name a few.

IndiQube Grow is the company’s core offering which represents a comprehensive workplace solution, for plug and play workspaces incorporating interiors, technology, facility management and value-added services. It has also developed four additional verticals, namely IndiQube Bespoke, IndiQube One, MiQube and IndiQube Cornerstone to service specialized client requirements.

It reported a Total Income of Rs. 867.6 crores in Fiscal 2024 as against Rs. 601.2 crores in Fiscal 2023. FY24 EBITDA stood at Rs. 263.4 crores, while for Q1FY25 itself the EBITDA was Rs. 153 crores.

IndiQube recently expanded its Board with addition of four Independent Directors, including one woman Independent Director. Naveen Tewari, chief executive officer and founder of the InMobi Group, Avalur Gopalaratnam Muralikrishnan, a certified chartered accountant with over 35 years of experience in the finance industry; Rahul Matthan, partner at Trilegal with 30 years of experience, and Sachi Krishana, with 20 years of experience in the field of human resources are the new members of the Board.

Flexible workspaces are becoming an integral part of the commercial office market. The rise of hybrid work models, prudence in the use of capital, the need for flexibility, workspace planning, and a shift in work culture are amongst the factors fuelling the demand for flexible workspaces.

According to a CBRE report, the flexible workspace stock in India currently stands over 79 million sq.ft. out of which Tier 1 cities account for over 72 million sq.ft. The Tier 1 stock is estimated to grow to approximately 124 Mn sq. ft. by end of CY2027.

Bengaluru is the largest commercial office and flexible workspace market in India currently, accounting for over 30% of the total flexible workspace stock amongst Tier I cities. IndiQube is amongst the leading operators in Bengaluru with a portfolio of 60 centers spanning 5.04 million square feet in AUM.

The Book Running Lead Managers to the offer are ICICI Securities Limited and JM Financial Limited

The equity shares are proposed to be listed on BSE and NSE.

Honda, Nissan to Merge by 2026 in Biggest Reshape in Global Auto Industry

Honda and Nissan have announced plans to merge by 2026, aiming to create the world's third-largest automaker by sales volume, trailing only Toyota and Volkswagen. This merger is driven by the need to compete with rising Chinese electric vehicle manufacturers and to address the challenges of electrification and autonomous driving.

The combined entity is expected to achieve sales of 30 trillion yen ($191 billion) and operating profits exceeding 3 trillion yen. The merger will also involve integrating their manufacturing plants and energy service facilities to improve efficiency and reduce costs

Mitsubishi Motors, in which Nissan holds a majority stake, is also considering joining the merger, which could further boost the combined group's global sales.

This merger represents a major shift in the global auto industry and highlights the importance of collaboration to stay competitive in the rapidly evolving market.

Toshihiro Mibe, Honda CEO, "We have to build up capabilities to fight with them by 2030, otherwise we’ll be beaten."

Makoto Uchida, Nissan CEO, "Together, we can create a unique way for them to enjoy cars that neither company could achieve alone.

Sam Abuelsamid, Auto Industry Analyst, "Some brands that have been around for a long time may well not be part of the landscape five or ten years from now just because they don’t have enough scale to compete against either the big Western players or the Chinese companies."

The merger is seen as a strategic move to address the challenges posed by Chinese electric vehicle manufacturers and to pool resources for better competitiveness in the evolving market.

Indo Farm Equipment Ltd IPO to Open on Tuesday, Dec. 31, 2024

• Price Band fixed at ₹ 204 per equity share to ₹ 215 per equity share of the face value of ₹10 each (“Equity Shares”) of Indo Farm Equipment Limited (“Company”)
• Anchor Investor Bidding Date – Monday, December 30, 2024
• Bid /Offer Opening Date – Tuesday, December 31, 2024, and Bid/ Offer Closing Date – Thursday, January 2, 2025
• Bids can be made for a minimum of 69 Equity Shares and in multiples of 69 Equity Shares thereafter
• Red Herring Prospectus dated December 20, 2024 (“RHP”) link: https://www.indofarm.in/wp-content/uploads/2024/12/RHP_Indo_Farm_Equipment_Limited.pdf

Indo Farm Equipment Limited (“Company”) proposes to open an initial public offering of 12,100,000 Equity Shares of Face Value of ₹ 10 each (“Equity Shares”) on Tuesday, December 31, 2024. The Anchor Investor Bidding Date is one Working Day prior to Bid/Offer Opening Date, being Monday, December 30, 2024. The Bid/ Offer Closing Date is Thursday, January 2, 2025.

The Price Band of the Offer has been fixed from ₹ 204 per Equity Share to ₹ 215 per Equity Share. Bids can be made for a minimum of 69 Equity Shares and multiples of 69 Equity Shares thereafter.

The Initial Public Offering comprises of a Fresh Issue of up to 8,600,000 equity shares and an Offer For Sale of up to 3,500,000 equity shares by Ranbir Singh Khadwalia (“Promoter Selling Shareholder”).

The Offer is being made through the Book Building Process, in terms of Rule 19(2)(b) of the Securities Contracts (Regulation) Rules, 1957, as amended (“SCRR”) read with Regulation 31 of the SEBI ICDR Regulations and in compliance with Regulation 6(1) of the SEBI ICDR Regulations and through the Book Building Process, wherein not more than 50% of the Offer shall be allocated on a proportionate basis to Qualified Institutional Buyers (“QIBs”, the “QIB Portion”), provided that our Company and the Promoter Selling Shareholder may, in consultation with the BRLM, allocate up to 60% of the QIB Portion to Anchor Investors on a discretionary basis in accordance with the SEBI ICDR Regulations (“Anchor Investor Portion”), of which one-third shall be reserved for domestic Mutual Funds, subject to valid Bids being received from domestic Mutual Funds at or above the Anchor Investor Allocation Price. In the event of under-subscription, or non-allocation in the Anchor Investor Portion, the balance Equity Shares shall be added to the Net QIB Portion.

Further, 5% of the Net QIB Portion shall be available for allocation on a proportionate basis only to Mutual Funds, and the remainder of the Net QIB Portion shall be available for allocation on a proportionate basis to all QIB Bidders, including Mutual Funds, subject to valid Bids being received at or above the Offer Price. However, if the aggregate demand from Mutual Funds is less than 5% of the QIB Portion, the balance Equity Shares available for allocation in the Mutual Fund Portion will be added to the remaining QIB Portion for proportionate allocation to QIBs. 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 35% of the Offer shall be available for allocation to Retail Individual Bidders (“RIBs”) in accordance with the SEBI ICDR Regulations, subject to valid Bids being received from them at or above the Offer Price.

All potential Bidders (except Anchor Investors) are required to mandatorily utilise the Application Supported by Blocked Amount (“ASBA”) process providing details of their respective ASBA accounts, and UPI ID in case of RIBs using the UPI Mechanism, if applicable, in which the corresponding Bid Amounts will be blocked by the SCSBs or under the UPI Mechanism, as the case may be, to the extent of respective Bid Amounts. Anchor Investors are not permitted to participate in the Offer through the ASBA process.

The Equity Shares of the Company are proposed to be listed on BSE Limited (“BSE") and the National Stock Exchange of India Limited (“NSE”, together with BSE, the “Stock Exchanges”).

Aryaman Financial Services Limited is the Book Running Lead Manager (“BRLM”) to the Offer.

LG’s Latest Indoor Gardening Appliance to be Unveiled at CES 2025

Featuring Sophisticated Lighting and Enhanced Usability, Company’s Home Gardening Lifestyle Solution Brings the Beauty and Bounty of Nature Indoors

LG Electronics (LG) is set to unveil its innovative new indoor gardening appliance at CES 2025. This latest personal horticultural solution combines an advanced system that encourages fast, healthy plant growth with a modern floor-standing lamp design, effortlessly stylish in any setting. Ideal for gardening novices as well as urbanites who enjoy bringing nature into their homes, this appliance makes plant cultivation a simple and satisfying experience.

Slender and upright with a circular “lampshade” and base, LG’s distinctive appliance is both an elegant interior object and a highly practical means of producing fresh home-grown greens. Despite its apartment-friendly footprint, the new model offers more growing space compared to the company’s previous indoor gardening appliances, enabling users to nurture a wider variety of plants, including taller species. Its adaptable growing space and height-adjustable LED growing lights provide considerable flexibility and the ideal conditions for raising a range of different leafy greens, herbs, flowers and fruits. Great for busy lifestyles, LG’s new solution supports continuous growing cycles and features a large, 1.5-gallon-capacity water tank that delivers more hydration between refills. (The water tank of LG’s previous indoor gardening appliance model provided a 0.8-gallon (approx.) / 3-liter capacity, while the smaller, mini-model provided a 0.3-gallon (approx.) / 1-liter capacity)

The appliance boasts two types of functional and aesthetically-pleasing lighting: downward-facing lights with five intensity levels to support optimal plant growth during the day, and upward-facing mood lighting to create a cozy, calming ambiance in the evening. This dual lighting design elevates the value and utility of LG’s latest gardening appliance while also highlighting the company’s unique ability to develop versatile “hybrid” solutions that deliver the benefits of multiple products.

With a twenty-plant, four-seed-kit capacity, the new indoor gardening appliance automatically dispenses the right amount of water and nutrients for the number and variety of plants being grown.2 This advanced system ensures consistent care, even when users are away for extended periods, as long as a week. In addition, compatibility with the LG ThinQ™ app allows users to manage cultivation schedules, adjust lighting settings and monitor plant growth from any location.

Along with the “floor-standing lamp” model, LG will reveal a new indoor gardening appliance featuring a nature-inspired side table design at CES 2025. This compact, multifunctional model provides an easy, enjoyable home gardening experience and demonstrates LG’s continuing commitment to providing compelling choices for various tastes and lifestyles.

“Our new indoor gardening appliances present a fresh way for customers to create their own personal green spaces, have fun growing their own plants, and infuse their homes with an inspired touch of modern style,” said Lyu Jae-cheol, president of the LG Home Appliance Solution Company. “We will continue to deliver innovative indoor solutions that allow anyone to experience the joy of gardening, regardless of where they live.”

Visitors to CES 2025 from January 7-10 can explore all of LG’s latest innovations, including the new indoor gardening appliances, at the company’s booth (#15004, Las Vegas Convention Center).

HFCL Inaugurates Defence Manufacturing Facility in Hosur to Boost Domestic Defence Manufacturing

• The facility will produce advanced Thermal Weapon Sights, Electronic Fuzes, High Capacity Radio Relay (HCRR) and Surveillance Radars, designed to meet the evolving needs of India’s armed forces as well as global defence forces.
• The facility has a manufacturing capacity of up to 5,000 Thermal Weapon Sights, 2,50,000 Electronic Fuzes for artillery guns and 1,000 units each of HCRR and Ground Surveillance Radars, annually.
• The defence manufacturing facility includes 10,000 Class and 1,00,000 Class clean rooms dedicated to the production of Thermal Imaging Core and Thermal Weapon Sights.

HFCL Limited, a leading technology enterprise and integrated next-gen communications product and solution provider announced the inauguration of its advanced defence equipment manufacturing facility in Hosur, Tamil Nadu on December 23, 2024. This strategic milestone underlines HFCL’s commitment to strengthening India's self-reliance in defense manufacturing, in line with the nation’s Atmanirbhar Bharat vision.

The inauguration ceremony was graced by Chief Guest Dr. G. Satheesh Reddy, former Secretary Department of Defence R&D, Chairman Defence Research and Development Organisation (DRDO) and Scientific Advisor to Defence Minister, and Guests of Honour Dr. (Smt.) Chandrika Kaushik, Director General- Production, Coordination & Services Interaction, DRDO, and Lt. General Rajeev Sabherwal. In his address, Dr. Reddy urged HFCL to focus not only on reducing the import burden but also on becoming a global exporter of top-quality defense products.

The new facility is dedicated to producing cutting-edge defense technologies, including HFCL’s indigenously developed Thermal Weapon Sights, Electronic Fuzes, High Capacity Radio Relay (HCRR) systems and Surveillance Radars tailored to meet the evolving needs of India’s armed forces. The facility is poised to manufacture up to 5,000 Thermal Weapon Sights, 250,000 Electronic Fuzes, 1,000 units each of High Capacity Radio Relays and Ground Surveillance Radars annually, addressing the critical requirements of India’s armed forces and contributing to the nation’s expanding defense export portfolio.

HFCL's defence manufacturing facility

Mahendra Nahata, Managing Director- HFCL

The new facility is strategically designed to meet the growing demand for high-precision defense technologies. It features a 10,000 Class and 1,00,000 Class clean rooms facility for TI Core and Thermal Weapon Sights production, ensuring the highest standards of quality and reliability. With a strong focus on quality, reliability, and innovation, HFCL aims to emerge as a leader in defense technology, providing solutions that meet the stringent demands of modern military operations worldwide.

Mr. Mahendra Nahata, MD, HFCL stated, “HFCL is proud to inaugurate this advanced defence equipment manufacturing facility in Hosur, which symbolizes our unwavering dedication to innovation, excellence, and national progress. This facility will allow us to deliver world-class defense technologies to armed forces, enabling them to operate with greater efficiency and confidence in critical missions.”

The Thermal Weapon Sights designed by HFCL represent a technological breakthrough, providing exceptional performance across diverse environments. Compatible with small arms such as rifles, light machine guns (LMGs), and rocket launchers, these sights offer features like high-resolution imaging, lightweight design, extended battery endurance and compliance with stringent MIL-STD 810 and JSS 55555 standards.

HFCL’s Electronic Fuzes, including Percussion, Proximity and Time Fuzes, are engineered for precision and adaptability, meeting critical defense requirements with their advanced programmable features and safety mechanisms.

The HCRR systems, designed for tactical networks, support secure and high-speed communication at 100Mbps. These systems feature Point-to-Point and Point-to-Multi-Point configurations, adaptive power control and Frequency Hopping to ensure secure, long-range data transmission in challenging environments.

HFCL’s Surveillance Radars, utilizing FMCW technology, offer rapid detection of threats such as moving persons, vehicles and even crawling targets. These compact, lightweight radars are ideal for border security, perimeter monitoring and counter-drone operations.

The Hosur facility will play a vital role in enhancing India’s defense capabilities and contribute significantly to the Country’s export potential. By investing in indigenous manufacturing and R&D capabilities, HFCL strengthens India’s strategic independence in the defense sector while also creating new opportunities for employment and skill development in the region. This new facility is poised to become a hub of innovation, equipped with advanced manufacturing technologies to ensure unparalleled quality and precision. It will play a vital role in enabling the production of next-generation defense solutions that cater to the rigorous operational demands of modern military applications.