Author: StoryTailors

Reliance Industries to bear full cost of COVID-19 vaccination for employees, families

KV Prasad Jun 13, 2022, 06:35 AM IST (Published)

Listen to the Article (6 Minutes)

Reliance Industries Limited will cover the costs of COVID-19 vaccination for its employees and their families.

In a letter addressed to “members of the Reliance family”, Nita Ambani, chairperson of Reliance Foundation, stated: “As per our earlier commitment, Reliance will bear the full cost of vaccination for you, your spouse, your parents, and vaccine-eligible-aged children. You and your family’s safety and well-being is our responsibility. Mukesh (Ambani) and I truly believe that cherishing the health and happiness of our loved ones is what it means to be part of a family – the Reliance Family.”

The government launched the second phase of COVID-19 vaccinations in India on March 1. This time, the effort is to immunize senior citizens and those with co-morbidities in the age range of 45 to 59 years.

The first phase of the vaccination drive in the country began on January 16 in which healthcare workers, who are at the frontline of the COVID-19 battle, got their vaccine shots.

In the mail, Nita Ambani also urged people not to let their guard down, and said that with their support “we will soon be able to put this pandemic behind us”. She added: “We are in the last stages of this collective battle. Together, we must win and we will win!”

Earlier, during the Reliance Family Day 2020 message, chairman and managing director Mukesh Ambani and Nita Ambani had assured the employees that as soon as any approved vaccine was available in India, the company would plan an early immunisation drive for its employees and their family members.

Nita Ambani concluded the letter by stating, “Corona haarega, India Jeetega.”

Reliance Industries’ employee count is around six lakh. The number is nearly 1.9 million when their family members are included.

Earlier, IT major Infosys and consulting and outsourcing services provider Accenture also said that they would cover the vaccination costs for their employees in India.

Rekha Menon, the chairperson and senior managing director of Accenture, India, had tweeted even on Wednesday that the company would “cover the cost of the COVID-19 vaccine, for our people and their dependents who are covered under our medical benefits program”.

Elon Musk forms several ‘X Holdings’ companies to fund potential Twitter buyout

3 Mins Read

Thursday’s filing dispelled some doubts, though Musk still has work to do. He and his advisers will spend the coming days vetting potential investors for the equity portion of his offer, according to people familiar with the matter

KV Prasad Journo follow politics, process in Parliament and US Congress. Former Congressional APSA-Fulbright Fellow

Flipkart eyeing US listing through merger with a blank-check company

KV Prasad Jun 13, 2022, 06:35 AM IST (Published)

Listen to the Article (6 Minutes)

Walmart-owned Flipkart is looking at the probabilities of going public in the US through a merger with a blank-check company, stated a Bloomberg report. Also, Flipkart is working on accelerating its listing process.

Going by the report, the Bengaluru-headquartered e-commerce giant has been emphasising on a US initial public offering (IPO). Apart from this, it’s also eyeing at other alternatives now.

As per Bloomberg’s sources, Flipkart’s advisers have approached a few special purpose acquisition companies (SPACs). Bloomberg’s sources added that Flipkart could look for a valuation of at least $35 billion in a blank-check transaction. As per the sources, negotiations are at an early stage and Flipkart could still look for other options.

Also read: Flipkart expands grocery services to over 50 cities

To explore a US listing by means of SPAC deals, the e-commerce giant is becoming a part of other Indian firms such as online grocer Grofers. Talking about SPACs, they are shell companies that raise money from public investors aiming to acquire a business within two years.

Merging with SPACs will let Walmart take its India business to market at a faster pace than the typical IPO route. According to Utpal Oza, head of investment banking for India at Nomura Holdings Inc, almost 10 Indian firms are likely to go public through SPAC deals before the end of the year.

For last few years, Flipkart has been contesting with e-commerce arch-rival Amazon. Apart from this, Mukesh Ambani’s retail venture has also become its emerging competitor for market share in India. Flipkart began operations in 2007 and now sells 80 million products on its platforms. In 2018, Walmart acquired a majority stake in Flipkart in a $16 billion deal.

Also read: Flipkart to deploy over 25,000 EVs in supply chain

Last week, ReNew Power decided to merge with a US-listed special purpose acquisition company. The deal will offer India’s biggest renewable power manufacturer an enterprise value of $8 billion.

Elon Musk forms several ‘X Holdings’ companies to fund potential Twitter buyout

3 Mins Read

Thursday’s filing dispelled some doubts, though Musk still has work to do. He and his advisers will spend the coming days vetting potential investors for the equity portion of his offer, according to people familiar with the matter

KV Prasad Journo follow politics, process in Parliament and US Congress. Former Congressional APSA-Fulbright Fellow

Pornography in some, says SC, orders screening of films on OTT

KV Prasad Jun 13, 2022, 06:35 AM IST (Published)

Listen to the Article (6 Minutes)

Observing that there “is pornography in some films” screened on over-the-top (OTT) platforms, the Supreme Court on Thursday said movies or shows on such platforms such as Netflix and Amazon need to be screened before they are available to the public.

“There should be some screening of films, series shown on OTT platforms like Netflix, Amazon… There is pornography in some films,” the court said while hearing a plea on the Tandav controversy.

The apex court was hearing a plea by Aparna Purohit, Amazon Prime Video’s Head of India Originals, challenging the Allahabad High Court order denying her anticipatory bail.

The Supreme Court Bench of Justice Ashok Bhushan and Justice RS Reddy asked the Centre to present before it the regulations it recently put in place on the OTT platforms, before adjourning the hearing till Friday.

Senior advocate Mukul Rohatgi, who was appearing for Purohit, said the cases against her are “shocking”. “Purohit is just an employee of Amazon, neither a producer nor an actor,” he said.

The lawyer contended that the OTT regulations have come and the Allahabad High Court order was not based on these. “It’s about freedom of speech and expression,” he said, adding that Tandav was not available for free and that it could only be watched by payment. He also called those who filed the FIRs “publicity seekers”.

The Amazon Prime Original political drama has been accused of hurting Hindu sentiments. The series premiered on Amazon Prime on January 15 and Purohit has been named in multiple FIRs for the derogatory depiction of deities and promoting religious enmity.

The high court, in its anticipatory bail plea order, had noted that “such people make the revered figures of the religion of (the) majority community source of earning money in a most brazen manner taking benefit of the liberal and tolerant tradition of the country”.

Rejecting Purohit’s anticipatory bail plea in a case filed in Noida, Justice Siddharth of the Allahabad HC had said that her conduct “disentitles her to any relief from this court”.

Earlier, on January 27, the Supreme Court had refused to grant interim protection from arrest to actor Mohammad Zeeshan Ayyub and the makers of web series Tandav and allowed them to approach high courts.

They had approached the top court seeking protection from arrest after seven FIRs were registered against them in different states.

Three FIRs were registered in Uttar Pradesh’s Lucknow, Noida, and Shahjahanpur, two in Madhya Pradesh and one each in Karnataka and Bihar. The FIRs mentioned that the show portrayed the Hindu deity, Shiva, in “a poor light” as his character was shown using foul language.

Elon Musk forms several ‘X Holdings’ companies to fund potential Twitter buyout

3 Mins Read

Thursday’s filing dispelled some doubts, though Musk still has work to do. He and his advisers will spend the coming days vetting potential investors for the equity portion of his offer, according to people familiar with the matter

KV Prasad Journo follow politics, process in Parliament and US Congress. Former Congressional APSA-Fulbright Fellow

Meet Rishi Sunak, the potential successor to UK PM Boris Johnson

KV Prasad Jun 13, 2022, 06:35 AM IST (Published)

Listen to the Article (6 Minutes)

The COVID-19 pandemic has hit the United Kingdom hard as the country’s death toll of 1,09,000 is the highest in Europe, and so is the figure of 42 lakh plus positive cases over the past year. This, in turn, has pushed the country’s economy into the deepest recession in over a century. Prime Minister Boris Johnson’s ratings are steadily going downhill and political commentators say it won’t be long before outright calls for his replacement get louder.

Interestingly, the man being billed as Johnson’s potential replacement doesn’t live too far from 10 Downing Street, the UK Prime Minister’s residence.

Rishi Sunak, Britain’s Chancellor of the Exchequer, who resides in number 11, also happens to be Johnson’s favourite. Observers say that is the reason he was elevated from Chief Secretary to Chancellor.

The 40-year-old was elected an MP from Richmond (Yorkshire) first in 2015. Writing in The Guardian, Rupert Neate, the newspaper’s wealth correspondent, said that Rishi’s wasn’t a “rags to riches story” and his social media antics may at times misfire, but “brand Rishi” looks unstoppable.

Early life

Rishi was born to parents, Yashvir, a general practitioner, and Usha, a pharmacist, on May 12, 1980, in Southampton. Sunak, the eldest of three siblings, went to a prestigious Winchester College boarding school, which, he said, could only become possible due to his parents’ “sacrifice”. He then studied Philosophy, Politics and Economics (PPE) at Lincoln College before moving to Stanford University, where he obtained an MBA degree.

Career

Sunak began his career as an analyst with Goldman Sachs and then moved to the hedge-fund sector. The Richmond MP set up his own company, Theleme Partners in 2010.

In 2014, he was selected as a conservative candidate for Richmond. He won the election in 2015 and became a member of the Environment, Food and Rural Affairs Select Committee.

Sunak, a strong proponent of Brexit, backed Theresa May’s deal but threw his weight behind Johnson when May decided to step down. The elevation to one of the “great offices of state” came sooner than expected after his then-boss Sajid Javid resigned as Chancellor.

‘Maharaja of the Dales’

What Neate wrote about Sunak gets amplified here. He is married to Akshata Murthy, the daughter of Infosys co-founder and one of India’s richest men, Narayan Murthy, and is also occasionally referred to as “Maharaja of the Dales”. The couple is parents to two daughters. Not just that, he is also thought to be the richest person in the House of Commons.

On his website, Sunak says he grew up watching his parents serve the local community and he was indebted to them for their sacrifices, ensuring he could attend good schools.

“That experience changed my life and as a result, I am passionate about ensuring everybody has access to a great education,” he writes. “I have been a school governor, a board member of a large youth club, and have always volunteered my time to education programmes that spread opportunity.”

In his spare time, Sunak says he enjoys keeping fit, and watching cricket, football and movies.

Elon Musk forms several ‘X Holdings’ companies to fund potential Twitter buyout

3 Mins Read

Thursday’s filing dispelled some doubts, though Musk still has work to do. He and his advisers will spend the coming days vetting potential investors for the equity portion of his offer, according to people familiar with the matter

KV Prasad Journo follow politics, process in Parliament and US Congress. Former Congressional APSA-Fulbright Fellow

Tata Motors launches new automatic transmission variant of Tiago at Rs 5.99 lakh

KV Prasad Jun 13, 2022, 06:35 AM IST (Published)

Listen to the Article (6 Minutes)

Tata Motors on Thursday announced the launch of the new XTA variant of its hatchback Tata Tiago at a starting price of Rs 5.99 lakh (ex-showroom, Delhi). This is its fourth AMT option in the Tiago family. The four variants of Tata Tiago are XTA, XZA, XZA+ and XZA+ DT. The new hatchback is based on the XT trim and will get similar features.

The car’s cabin has an infotainment system by Harman, four speakers, front and rear power windows and central locking. It has a 1.2-litre petrol engine, which produces 84bhp and 113Nm of torque. It’s paired with a five-speed AMT gearbox.

The hatchback will compete against the likes of Maruti Suzuki WagonR, Hyundai Santro, and Maruti Suzuki Celerio.

Tiago has also been a strong performer for the automaker. It has been an integral part of Tata Motors’ entry-level vehicles. Since its launch in 2016, Tiago has played a very important role in transforming the brand Tata. In 2020, Tata introduced the Tiago’s BS6 version, which got a four-star rating in the Global NCap safety tests — making it the safest vehicle in its segment. On January 30, Tata launched a limited-edition series of Tiago, which commemorated the first anniversary of the Tiago refresh range.

Vivek Srivatsa, head, marketing, passenger vehicle business unit, Tata Motors, said the Tiago variants have received a huge response in markets across regions. Srivatsa added that the automatic transmission (AT) segment has been booming in India, a fact highlighted by the positive response to the Tiago in the country. Srivatsa said that his team was confident that this new variant would give the company a competitive edge in the mid-hatchback segment as well as provide customers with accessible options.

Elon Musk forms several ‘X Holdings’ companies to fund potential Twitter buyout

3 Mins Read

Thursday’s filing dispelled some doubts, though Musk still has work to do. He and his advisers will spend the coming days vetting potential investors for the equity portion of his offer, according to people familiar with the matter

KV Prasad Journo follow politics, process in Parliament and US Congress. Former Congressional APSA-Fulbright Fellow

Did not get Heranba Industries IPO allotment? Know about the refund process, timeline

KV Prasad Jun 13, 2022, 06:35 AM IST (Published)

Listen to the Article (6 Minutes)

Gujarat-based crop protection chemical manufacturer Heranba Industries’ IPO will list on BSE and NSE on Friday (March 5).

The finalisation of Allotment for the IPO was done on March 2 and the shares were credited to the demat accounts of those who got allotment on March 4. Those who have applied for the Heranba IPO can check the allotment status on BSE’s website.

Once you are on the page, select the company name (Heranba Industries), then enter Application No/CAF number, beneficiary ID or PAN number. Finally, click on the search button to know the Heranba IPO share allotment subscription status.

The refund process has been initiated on March 3 for those who weren’t allotted shares. One can contact the Registrar of Heranba Industries IPO with any queries related to stock allocation or refund.

In case you weren’t allotted any shares and are wondering why; here are the possible reasons.

a: The IPO was oversubscribed and the allotment process was completed via the lottery system and you may have not been selected.

b: The IPO application was rejected due to mismatch/incomplete information.

c: The issue price was higher than the bid price — it is advisable to always apply on cut-off price.

In this case, the final issue price was fixed at Rs 626-627 per share.

The crop protection chemical manufacturer is looking to mop up Rs 625 crore through its public issue. Heranba Industries hit the capital market from February 23 to 25, while the portion for anchor investors opened on February 22.

The issue was subscribed 83 times during the February 23-25 period, before the allotment of shares was finalised on March 2. Incorporated in 1992, Heranba Industries is one of the leading domestic producers of synthetic pyrethroids. Heranba Industries operates in different verticals, including domestic sales, exports, and manufacturing. The company has about 8,600 dealers across India. It exports its products to over 60 nations through its numerous international distribution partners.

Heranba is the eighth company to go public in CY2021. The company had first filed its IPO in September 2018 and received an approval from SEBI in February 2019. But it failed to launch the issue due to market volatility on account of general elections.

Elon Musk forms several ‘X Holdings’ companies to fund potential Twitter buyout

3 Mins Read

Thursday’s filing dispelled some doubts, though Musk still has work to do. He and his advisers will spend the coming days vetting potential investors for the equity portion of his offer, according to people familiar with the matter

KV Prasad Journo follow politics, process in Parliament and US Congress. Former Congressional APSA-Fulbright Fellow

Bajaj Auto launches Platina 110-ABS; price Rs 65,920

KV Prasad Jun 13, 2022, 06:35 AM IST (Published)

Listen to the Article (6 Minutes)

Bajaj Auto has launched the all-new Platina 110 -ABS, the first 110 cc bike to have an anti-lock braking system (ABS) . The two-wheeler is priced at Rs 65,920 (ex-showroom, Delhi). The ABS technology offers the best-in-class braking that prevents slipping or loss of control in sudden-braking scenarios. The ABS is coupled to a 240mm front disc brake, and this feature makes the new Platina the safest bike in its category.

Anti-lock Braking System

The ABS consists of an electronic controller that regulates the wheel speed under abrupt or extreme braking. By means of a feedback loop, it releases and reapplies the brakes, quicker than any human interference can achieve.

While doing that, the system works to avert ‘locking’ of the wheel, which otherwise may lead to loss of control or skidding.

Other specifications

Apart from ABS, the bike comes with a ComforTec package that consists of a 20 percent longer front and rear Nitrox spring-on-spring suspension that causes less jerks on potholed-ridden roads, long quilted seats that offer comfort for rider and pillion, and tubeless tyres. This offers matchless comfort on the road. Moreover, it is powered with a single-cylinder, 115 cc, four stroke, air-cooled engine with Electronic Injection. This produces 6.33 KW power (8.6 PS) @ 7000 rpm & 9.81 Nm torque @5000 rpm.

For augmented visibility, the bike comes with new-look mirrors and flaunts a LED headlamp with a unified daytime running lamp that adds style.

Apart from these, it offers hand-guards to offer additional protection while riding on diverse surfaces. There is also an ABS-indicating analogue speedometer

The two-wheeler will be available in three colours – volcanic red, beach blue and charcoal black. It will be available across all Bajaj Auto dealerships in India.

During the launch, Sarang Kanade, the president of Bajaj’s domestic motorcycles business unit, said that the Platina 110 ABS will offer riders total control over unforeseen braking scenarios. About the Platina brand, he said that there were over 70 lakh satisfied customers.

Elon Musk forms several ‘X Holdings’ companies to fund potential Twitter buyout

3 Mins Read

Thursday’s filing dispelled some doubts, though Musk still has work to do. He and his advisers will spend the coming days vetting potential investors for the equity portion of his offer, according to people familiar with the matter

KV Prasad Journo follow politics, process in Parliament and US Congress. Former Congressional APSA-Fulbright Fellow

Sasikala ‘withdraws from politics’ ahead of Tamil Nadu polls; is it advantage AIADMK?

KV Prasad Jun 13, 2022, 06:35 AM IST (Published)

Listen to the Article (6 Minutes)

On February 9, 2021, when VK Sasikala, the former general secretary of AIADMK, returned to Tamil Nadu, a mammoth crowd lined up to greet her. Sasikala, fondly known as Chinamma among her supporters, was returning from Bengaluru after serving a four-year jail term in the disproportionate assets case. Believed to be the closest aide of J Jayalalithaa, the late Tamil Nadu chief minister, Sasikala was clear about her goal when she walked out of the jail: “enemy’s” defeat.

According to a report in The Indian Express, Chinamma, en route Tamil Nadu, had said that it was once again time for everyone to unite and “work together as children of the same mother under the AIADMK banner”. It doesn’t seem to have gone down too well with Chief Minister E Palaniswamy (EPS) and his deputy O Panneerselvam (OPS), who have often clarified that there was no place for the aunt-nephew duo in the AIADMK. Also, the supporters of Sasikala carried the AIADMK flags the day she arrived, forcing the senior leadership of the party to file a petition against her using the party symbol.

A month ago, Sasikala’s statements hinted at a possible and more enthusiastic return to active politics and a more dominant role in Tamil Nadu politics. She made a vow on the same at her last visit to the mausoleum of Jayalalithaa at Marina Beach.

The shocker

But who knew Sasikala would drop a bombshell? On March 3, to everyone’s shock, Chinamma announced that she would “step aside from politics and public life”, which many say could once again hand AIADMK the all-needed advantage a month before the state goes to polls. It’s not just the “withdrawal” from active politics, but also an appeal from Sasikala that could determine the fate of the party in the next month’s Assembly elections.

“All true followers of Jayalalithaa need to act with wisdom to ensure the DMK, that ‘Amma’ identified as our common enemy, is kept out of power,” she said in her statement.

Chinamma claimed that she was never hungry for the title, posts or power, something she has been repeatedly accused of. “I will stay away from politics and pray to ‘akka’ (sister) and God, for AIADMK rule to continue,” she added. The AIADMK is going to contest the upcoming Tamil Nadu elections with the BJP and Sasikala’s decision — irrespective of whether it’s temporary or permanent — is being seen as a crucial political move.

Shot in the arm for AIADMK

Chinamma’s decision to quit politics — at least for the time being — and her appeal to AIADMK supporters to unite against the “enemy”, DMK, has come as a blessing in disguise for OPS and EPS. The DMK, under Stalin, looked solid and was already seen as a winner even before the state went to the polls. But now that Sasikala has withdrawn herself, it’s an advantage AIADMK again as the possibility of votes split has been reduced to a bare minimum. But there is more to Sasikala’s decision. That AIADMK was on a sticky wicket is a well-known fact and if the party loses elections, it will only and only be OPS and EPS’ defeat. However, if the NDA alliance pulls a shocker on DMK, Sasikala could well be handed the credit for her timely decision for the larger good of Amma’s party.

What’s ahead for TTV Dinakaran?

TTV Dhinakaran, who was eagerly waiting for his aunt to return to once again mount pressure on EPS and OPS and stake claim to Jayalalithaa’s legacy, appears to have suffered the most following Sasikala’s decision.

Removed from AIADMK along with Chinamma in March 2017, Dhinakaran had launched his party, AMMK, which he said will contest elections. Following her aunt’s announcement, Dhinakaran said he disagreed with her and tried to convince her to stay. “But I cannot stop her from making a personal decision, can I?” he said.

The nephew was banking on the aunt’s popularity as well as the sympathy factor after Chinamma served four years in jail. But all that has come a cropper. He has, however, clarified that AMMK would contest the polls and has even invited other regional parties to join hands with him. Will Sasikala’s decision encourage Dhinakaran to go back to AIADMK or will he contest polls alone? With just a month left for polls, Dhinakara is holding all the cards close to his chest.

Early life

VK Sasikala was born on August 18, 1954, in Chennai to a Tamil family, which later moved to Mannargudi. Her husband M Natarajan, a public relations officer in the Government of Tamil Nadu, passed away in 2018 while Sasikala was serving her jail term. Interestingly, their marriage was presided over by another stalwart of Tamil politics, DMK’s late M. Karunanidhi, who also served as the chief minister of the state on five different occasions.

Sasikala, who became the confidante of Jayalalitha, had met her for the first time in the early ’80s. The meeting came about with the help of VS Chandralekha, the then-District Collector of South Arcot and a friend of M Natarajan. That’s how Sasikala made acquaintance with Jayalalithaa, the then Propaganda Secretary of the AIADMK. The two gradually became close friends since Sasikala was helping the AIADMK in video coverage of meetings and distribution of policies through CDs.

Disproportionate assets case

The case goes back to the year 1996 during the very first tenure of Jayalalitha as the chief minister of the state. BJP leader Subramanian Swamy, who was then with the Janata Party, filed the case, accusing the then CM of amassing a wealth of Rs 66.65 crore disproportionate to her known sources of income. Sasikala. along with her two relatives — J Ilavarasi and V N Sudhakaran —  was the accused number 2 in the case.

In 2014, a Bengaluru special court convicted Jayalalithaa, Sasikala and two of her relatives in the case. Jayalalithaa quickly moved the Karnataka High Court for bail but had to face rejection. The Supreme Court had then granted her bail and instructed the Karnataka High Court to complete the hearings.

In 2015, the Karnataka High Court acquitted all the four accused in the case, following which the state government moved the top court, which began hearings in February 2016. In December the same year, the then Tamil Nadu CM passed away following a prolonged illness.

In February 2017, while the tussle for who gets to be the true inheritor of “Amaa’s” legacy was on, the Supreme Court overturned Karnataka HC’s verdict and convicted Sasikala, Ilavarasi and Sudhakaran, asking them to surrender and serve the remaining jail term. The top court abated charges against Jayalalitha following her death.

Elon Musk forms several ‘X Holdings’ companies to fund potential Twitter buyout

3 Mins Read

Thursday’s filing dispelled some doubts, though Musk still has work to do. He and his advisers will spend the coming days vetting potential investors for the equity portion of his offer, according to people familiar with the matter

KV Prasad Journo follow politics, process in Parliament and US Congress. Former Congressional APSA-Fulbright Fellow

COVID-19: Now you can get vaccinated 24×7

KV Prasad Jun 13, 2022, 06:35 AM IST (Published)

Listen to the Article (6 Minutes)

The Union health ministry has offered hospitals the go-ahead to inject the COVID-19 shot to those who are fit as per their suitability. In a tweet, Union health minister Harsh Vardhan informed that the government had ended the time limit to augment the pace of immunisation.

He tweeted a message in Hindi, which translates to: “The time constraint has been abolished to increase the speed. Citizens of the country can now get vaccinated 24×7 at their convenience. (sic)”

सरकार ने #vaccination की रफ़्तार बढ़ाने के लिए समय की बाध्यता समाप्त कर दी है। देश के नागरिक अब 24×7अपनी सुविधानुसार टीका लगवा सकते हैं।

PM श्री @narendramodi जी देश के नागरिकों के स्वास्थ्य के साथ-साथ उनके समय की कीमत बखूबी समझते हैं।#VaccineAppropriateBehavior pic.twitter.com/cpKVlXurvL

— Dr Harsh Vardhan (@drharshvardhan) March 3, 2021

On Monday (March 1), India rolled out the second phase of COVID-19 vaccinations. Now, the vaccines will be administered to senior citizens and those with co-morbidities in the age range of 45 to 59 years.

The second phase of the immunisation drive aspires to cover approximately 10 crore people. All those who turn 60 before or on January 1, 2022, will be eligible. They just need to furnish age proof. Those between 45 and 59 years will also have to provide medical documents as proof of co-morbidities, apart from their age proof.

On Tuesday (March 2), the central government approved private hospitals not associated with Ayushman Bharat, CGHS, and state schemes to be considered centres for injecting the jabs. As per the central government, 60 distribution points for the vaccines had been arranged nationally from where they are distributed further.

Apart from this, the centre has also advised states to make use of the capacities of private hospitals optimally. Also, it asked them to make sure sufficient allocation of vaccines to all hospitals, be it government and private, for the complete duration for which sessions have been projected.

Many eminent political leaders, including health minister Harsh Vardhan, Prime Minister Narendra Modi, home minister Amit Shah, defence minister Rajnath Singh, Odisha Chief Minister Naveen Patnaik and Kerala CM Pinarayi Vijayan, have already taken the vaccines. According to the health ministry, over 1.56 crore people have been immunized against coronavirus until now.

Elon Musk forms several ‘X Holdings’ companies to fund potential Twitter buyout

3 Mins Read

Thursday’s filing dispelled some doubts, though Musk still has work to do. He and his advisers will spend the coming days vetting potential investors for the equity portion of his offer, according to people familiar with the matter

KV Prasad Journo follow politics, process in Parliament and US Congress. Former Congressional APSA-Fulbright Fellow

KIMS files draft red herring prospectus with SEBI for Rs 700 cr IPO

KV Prasad Jun 13, 2022, 06:35 AM IST (Published)

Listen to the Article (6 Minutes)

Krishna Institute of Medical Sciences Ltd (KIMS) has filed a draft red herring prospectus with capital markets regulator Securities and Exchange Board of India (SEBI) for a Rs 700 crore initial public offering. The IPO consists of a fresh issue of shares for Rs 200 crore and the rest will be a sale of shares by some of the present shareholders.

As a part of the offer, an overall 1,39,77,991 equity shares would be offered by General Atlantic Singapore KH Pte Ltd for sale. Apart from this, up to 7,75,933 equity shares would be provided by Bhaskara Rao Bollineni.

Moreover, up to 11,63,899 equity shares would be offered by Rajyasri Bollineni and 3,87,966 equity shares by Bollineni Ramanaiah Memorial Hospitals Pvt Ltd. A part of the IPO would be reserved for eligible employees.

The earnings from the fresh issue will be utilised to repay Rs 150 crore of debt of the company and its subsidiaries. KIMS is one of the largest corporate healthcare groups in Andhra Pradesh and Telangana. The multidisciplinary integrated private healthcare services provider was established in 2004 by renowned cardiothoracic surgeon Dr Bhaskar Rao.

With an overall bed capacity of 3,064, it runs nine multi-specialty hospitals under the ‘KIMS Hospitals’ brand. As of December 31, 2020, this includes more than 2,500 operational beds, the DRHP said.

KIMS Hospitals provide a wide range of healthcare services across over 25 specialties and super specialties. This comprises orthopaedics, organ transplantation, renal sciences, cardiac sciences, oncology, neurosciences, gastric sciences, and mother and child care.

Axis Capital Ltd, Credit Suisse Securities (India) Pvt Ltd, Kotak Mahindra Capital Co Ltd and IIFL Securities Ltd have been appointed as book running lead managers to the issue. The equity shares are planned to be listed on the BSE and the NSE.

Elon Musk forms several ‘X Holdings’ companies to fund potential Twitter buyout

3 Mins Read

Thursday’s filing dispelled some doubts, though Musk still has work to do. He and his advisers will spend the coming days vetting potential investors for the equity portion of his offer, according to people familiar with the matter

KV Prasad Journo follow politics, process in Parliament and US Congress. Former Congressional APSA-Fulbright Fellow