Zetwerk Manufacturing, a $3.1 billion company in the contract manufacturing space, is planning to come up with an initial public offering within the next 15-24 months, a top company executive said on Saturday. The Bengaluru-based company aims to raise at least $500 million, targeting a valuation of around $5 billion.
'I believe that the overall demand for commercial vehicles will improve, even though there is a slowdown in the GDP.'
'The favourable rupee-dollar exchange rate, there are opportunities we can tap.'
The project is critical as the region expects huge investments in the automotive, renewable energy, and space sectors.
The Eicher Pro X is assembled on an all-women assembly line.
'This market for diesel starts at around Rs 6.3 lakh and goes up to Rs 7 lakh, and with Saathi we have our usual price set at Rs 6.5 lakh, so we are slightly on the lower side with a superior product.'
The charging infrastructure expansion includes the setup of over 600 DC charging stations by 2030 (including company-owned and company-operated ones) in addition to partnerships with over 10,200 charging points, collaborating with operators like Shell, Charge Zone, and Statiq.
Numeros Motors is also planning to come up with a passenger vehicle four-wheeler or a three-wheeler by 2027.
In the shadows of a sliding rupee, India's knitwear hub Tiruppur is weaving a success story. While the domestic currency edges closer to the 86 mark against the US dollar, triggering concerns for many sectors, this textile town in Tamil Nadu is finding opportunity in adversity: Between April and December alone, Tiruppur's exports reached Rs 26,000 crore, almost eclipsing last financial year's total of Rs 30,690 crore.
Unified Payments Interface (UPI) transactions saw an 8 per cent month-on-month increase in volume to 16.73 billion in December, the highest volume for the digital system since it became operational in April 2016. The value also increased by 8 per cent to Rs 23.25 trillion, up from Rs 21.55 trillion in November.
For the first time in history, the luxury car market is poised to cross the sales mark of 50,000 units in 2024, with Mercedes leading the way
Taiwanese footwear major Hong Fu Industrial Group - a supplier to Nike, Converse, Vans, UGG, Puma, Adidas, Reebok, HOKA, Under Armour, and ON (a Swiss sportswear brand) -marked its India entry on Monday, with the ground breaking ceremony of the Rs 1,500-crore footwear manufacturing facility at the SIPCOT Industrial Park in Panapakkam, nearly 85 kms from Chennai.
Dhoni endorses 42 brands to Bachchan's 41 and SRK's 34.
The state is in the process of grooming a supplier ecosystem, for which India is almost entirely dependent on imports.
After experiencing an 11 per cent contraction in exports in 2023-24 (FY24) due to a dip in exports for 10 consecutive months from April to January, the Tiruppur textile industry is back on track in 2024-25 (FY25). The cluster, which contributes 55 per cent of the country's total knitwear exports, posted a 13 per cent increase in the first five months of this financial year (FY25), with August seeing a 22 per cent rise - the highest in over two years.
Lulu Retail announced on Wednesday that its initial public offering (IPO) was oversubscribed 25 times across all tranches, excluding cornerstone investors, generating demand exceeding $37 billion-a record for a private sector IPO in the United Arab Emirates. The company is controlled by Kerala-based business tycoon MA Yusuff Ali. The final offer price for Lulu shares was set at AED 2.04 per share, raising a total of $1.72 billion (AED 6.32 billion), making it the largest IPO in the UAE in 2024 to date.
Maruti Suzuki India Ltd (MSIL), the largest passenger vehicle manufacturer in India, has set a road map to expand its global presence by targeting exports of 800,000 units by the end of this decade -- almost double the approximately 280,000 units sent abroad in 2023-24, Rahul Bharti, executive director, corporate affairs, told Business Standard. The company's upcoming electric vehicle (EV) strategy is expected to play a crucial role in its global ambitions.
Sivakasi is fighting for survival, thanks to the ban on firecrackers in Delhi, regulations in several other cities, pandemic-imposed sales dips, the ban on the use of barium nitrate...
Indian motorcycle maker Royal Enfield on Tuesday announced starting a manufacturing unit and a showroom in Bangladesh, marking a major industrial development in the neighbouring country where the former prime minister Sheikh Hasina fled in August after weeks-long protests against her. The manufacturing facility in Chauddagram in Cumilla district is Royal Enfield's sixth outside India and besides the one in Tamil Nadu. Royal Enfield, the global leader in the mid-size motorcycle segment, has set up the facility in collaboration with IFAD Motors.
Employees were told to return to work from Monday onwards for a fresh start for improved production.
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