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Indian firms line up for Countrys oldest path
lab chain to go public
Welspuns green projects
AItoraisebondamountfornewpilots
Air India is in the process of raising bond
H
FIH,aunitofTaiwanesetechnologyfirm ero Future Energies, ReNew | Welspun Renewables has Offering 11.6 million shares in an ed honorary physician to the
Foxconn,haspicked10percentinMoMagic, Power and Reliance Cleangen are 308 Mw of solar power initial public offer, it is not only among President in 2001.
amobileinternetfirminDelhi,foran evaluating the renewable energy capacity the top pathology lab chains in the Arvind Lal took charge of the lab-
undisclosedsum.Theinvestmentistofurther portfolio of Welspun Enterprises. Welspun country but it is also the oldest pri- oratoryin1977,leaving hisjobasanlec-
strengthenFIHsbusinesspresenceinIndia, Renewables, wholly-owned green energy | Has 440 Mw of solar power vate lab chain with its origins dating turer in Armed Forces Medical College
andaspartofthetwocompanies'sharedgoal arm of Welspun Enterprises, is selling projects in the pipeline back to 1949. after his fathers death that year.
oftappingsignificantbusinessopportunities equity stakes in its solar and wind power S K Lal laid the foundations of the Expansion began in 1982, with
| It is building one of the
intotheworld'sfastest-growingmobile projects. chain with the setting up of Central Dr Lal PathLabs appointing fran-
internetandsmartphonemarket. BS REPORTER< SoftBank, earlier keen to pick up
largest solar power projects Clinical Laboratory in Delhi, four years chisees for collection of samples.
>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>\ stakes in the projects, has dropped out. in Madhya Pradesh, with after partition. Around the same time, the laboratory
Welspun Renewables was raising capacity of Rawalpindi-born and Lahore- brought an auto analyser for testing
Telecom sector to see rising debt capital through equity sales, said a per- 750 Mw trained S K Lal was forced to move to samples and computerised lab opera-
Withincreaseofcostofspectrumacquisition son close to development. Persons in | Had committed to add Delhi along with other members of his tions in 1986. The company took its
andheavycashneedforsettingupof the know said domestic and foreign family during partition. A doctor by present name in 1995. Further expan-
11,001 Mw of renewable
infrastructureformobileinternetamidlower companies were in the fray to invest in training, he previously served in the sion and modernisation took place
energy capacity by 2022 in
profitability,Indiantelecomsectorisexpected Welspun Renewables projects totalling British Indian Armys medical corps with the appointment of professional
towitnessconsolidationandrisingdebt,said 400 Mw. RE-Invest 2014 during the second world war. He took managers, accreditation from nation-
IndiaRatingsandResearch. BS REPORTER< Vineet Mittal, vice-chairman, Welspun early lessons in pathology in the al and international bodies and pri-
>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>> Renewables, did not respond to phone Armed Forces Medical College before vate equity investment.
calls and text messages. The company's Power Ventures, said he would refrain made its first equity infusion ever in India settingupthelabinDelhi.During1953- Along with Lal, wife Vandana is a
Aircel launches cheap 2G data packs spokesperson also did not respond. from commenting. as part of a $50 million commitment into 56 he studied and worked at North director in the firm. The couple along
AircelonMondaylaunchedmobiledatapacks, Promoted by B D Goenka, the ReNew Power is backed by Goldman the company. Western University and Cook County with their children own around
startingfrom~9,toofferunlimitedsecond- Welspun Group has interests in textiles, Sachs with an equity investment of close While debt financing is comparative- HospitalinChicago,developingexpert- 63.7 per cent. Private equity firms
generation(2G)internetfordifferentvalidity polychemicals, steel, cement and renew- to $350 million and its current total equi- ly easier now, renewables companies are ise in the subject. WestBridge Crossover Fund and
periods.Witharechargeof~9perday,its able energy. ty is $655 million. The company has finding it difficult to raise equity. This This was a period when private Wagner own about 30 per cent.
subscriberscanuse100megabytesofdatafor Hero Future Energies, a comparative- 1,600 Mw of clean energy assets across (Welspun) also seems like one such effort pathology clinics were rare in the We will expand in our core areas
thepurposeofbasicinternet. BSREPORTER< ly new entrant with 250 Mw capacity, is the country, out of which 1,000 Mw are to tighten the fiscal condition of the com- country and most people visited gov- which are north, east and central
>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>> keen to buy Welspuns projects but chief wind energy projects. pany through equity sale, said a Delhi- ernment hospitals for tests. In the India. We also plan to set up another
executive Sunil Jain declined to comment. Welspun has in the past received insti- based renewable energy expert. 1950s when my father managed our central reference lab in Lucknow and
Porter to raise funds Hero has a pipeline of around 1,000 Mw of tutional funding from across the globe for Welspun has 308 Mw of solar power laboratory, it used to get four-five increase the number of hospital labs
Porter,aMumbai-basedonlinelogistics wind power projects, in seven states. its projects. General Electric made its first capacity and is building its wind energy patients a day and by the 1970s, the under our management, said Om
marketplace,islookingatraisingaSeries-B Reliance Cleangen, renewable energy Indian solar investment in the company portfolio. It has committed to adding number increased to 30. Today, we get Prakash Manchanda, the chains
fundingtowardsthemiddleof2016,according arm of the Anil Ambani-promoted by pumping in $24 million into Welspuns 11,000 Mw of renewable energy capacity 40,000 patients a day, said Arvind Lal, chief executive.
toitsco-founderandchiefexecutiveofficer Reliance Power, said it had no such plans. 151 Mw solar project in Neemuch, Madhya by 2022. The company has 440 Mw of chairman and managing director.
PranavGoel.Porterraised~35croreinaSeries-A Sumant Sinha, chief executive, ReNew Pradesh. Asian Development Bank also solar power projects in the pipeline. We now have one central refer- For more, visit business-standard.com
fundingfromSequoiaCapital,KaeCapitaland
otherinvestorsinJune2015. BS REPORTER<
>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>
FlyDubai eyes pact with SpiceJet the development Online fashion retailer Myntra is shedding its Arvind Lal (left), CMD of Dr Lal PathLabs, and Om Manchanda, chief executive,
SpiceJet,whichisfirmingupambitiousfleet app-only presence and plans to revive its during a conference in Mumbai on Monday PHOTO: SURYAKANT NIWATE
expansionplans,isevaluatingpossible website for shoppers by January, to tap more
partnershipwiththeGulf'slow-costairline, BS REPORTER users. Myntra had taken a lead in going app-
verticalisation strategy. Myntra official, who declined to be named. Tata Coffee Grand.
EricssoneyesDigitalIndia,smartcities CommonFloor, which counts We want to keep it contained for our users. The move comes as the ~7,833-crore
positions, with share almost
neck and neck, according to
TelecomgearmakerEricssononMonday investors such as Accel, Google Capital There is a New Year sale happening and we Tata Global Beverages (TGB) looks to
industry sources
announcedsettingupofanewunitIndustry and Tiger Global, was in talks to merge Quikr, founded by Pranay Chulet will keep evolving. Things will become increase revenues from the coffee divi-
andSocietywhichwillfocusonsmartcities,the with Quikr, after it failed to raise addi- (pictured), has been looking for more mature. sion, one of two areas the company has | Tatas' entry will bring a third
DigitalIndiacampaignandothertechnology tional capital to fund its business. So acquisitions to strengthen its A Myntra spokesperson declined com- identified as future growth drivers. TGB player into this market
projectsfromthegovernment.It'sexpectedto far, the firm has raised $60 million. verticalisation strategy ment on the development. Currently, their gets 75 per cent of its revenue from tea.
accountfor20percentofthegroup'soverall Pranay Chulet-founded Quikr, with website redirects users to download its app Coffee and water contribute around 18
businessfromIndia. PTI< a valuation of around $1.5 billion has ed by Vikram Dhawan and Karan from the respective app stores of Google, per cent and two per cent, respectively. Globally, TGB has brands such as
>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>> been looking for acquisitions to Jindal for an undisclosed sum. Apple and Microsoft. Flipkart worked along- The plan is to take coffee and water rev- Eight O' Clock Coffee and Grand in its
strengthen its verticalisation strategy. IRX tags agents and brokers with side the Chrome team at Google to develop its enues to 35 per cent and seven per cent, portfolio. The initial plan was to extend
Microsoft launches new Lumia Quikr has raised $346 million in real-time projects and locations, and mobile website, the idea for which was floated respectively, in the next few years, as subsidiaryTataCoffee's packagedcoffee
Informational technology giant Microsoft, six rounds from investors such as also helps users connect with them to by technology head Peeyush Ranjan, a for- the company wishes to reduce its bean brand (Mr Bean) into the instant
which has acquired Nokias mobile unit, on Tiger Global, Warburg Pincus, and buy and sell property. mer Googler himself. dependence on tea. coffee space in India. However, this was
Monday launched high-end Lumia phones in Norwest Venture Partners. The investment towards this latest The company opted for deeper integration TGB had set the process in motion a shelved for a new product altogether.
Mumbai for corporate clients who could use it A few weeks ago, it acquired India acquisition is a strategic move that with Chrome, giving it the ability to push noti- few years earlier with a tie-up with glob- Sushant Dash, regional president for
as a PC and said more such devices with a Realty Exchange (IRX), a mobile-first enables Quikr to strengthen its newly fications on a users smartphone one of the al coffee house major Starbucks. At the TGB, said Tata Coffee Grand was devel-
different price range would hit Indian aggregator of real estate agents found- launched vertical, QuikrHomes. key reasons developers choose to build native time, there was big gap in the packaged oped in-house, after months of research
markets soon. BS REPORTER< apps in the first place. coffee space in India. and consumer studies.