Oral Cancer Awareness Month – April 2024

Excessive use of tobacco among young adults is main cause of increasing Oral Cancer cases in India

Mumbai- India witnesses a substantial number of newly reported cancer cases each year, with approximately 1. 5 million new cases are diagnosed annually. April is Oral Cancer Awareness Month, an annual observation that underscores the fact that early detection of oral cancer can decrease morbidity and increase long-term survival. Every hour, 24-hours-a-day, 365-days-a-year, someone dies of oral or oropharyngeal cancer (cancer of the back of the oral cavity and upper throat). Overall, the lifetime risk of developing oral cavity and oropharyngeal cancer is about 1 in 59 for men and 1 in 139 for women. These are average risks, but a number of factors (described in Oral Cavity and Oropharyngeal Cancer Risk Factors) can affect your risk for developing mouth and throat cancer. Oral cancer is a significant health concern in India, ranking as the second most common cancer overall and the most common among males. Commenting on this topic Dr. Rahul Patil , MS ENT , DNB, fellowship in head and neck cancer surgery From Apex Group of Hospitals said, “.  Oral cancer also known as mouth cancer, the disease is the most common form of head and neck cancer and includes cancers of the mouth and the back of the throat. Excessive use of tobacco, chewing betel nuts, or smoke among young adults accounting for 80-90 per cent of oral cancer cases. Other contributing aspects include excessive alcohol consumption, human papillomavirus (HPV) infection, weakened immune system, poor nutrition, excess body weight and excessive sun exposure. Detecting cancer in its early stages is crucial in preventing additional physical, psychological and financial harm to the patient. By identifying it early, appropriate treatment can be administered promptly, potentially increasing the patient's survival rate to 90 per cent. To address these risk factors and promote oral cancer prevention, it is important to prioritize regular screenings and check-ups with a healthcare professional. This can help to detect oral cancer in its early stages when it is most treatable.”

The State of Kerala displays the lowest occurrence of oral cancer, whereas West Bengal records the highest. In the western regions of Maharashtra, oral malignancy is most prevalent in individuals aged 60 years or older, followed by those between 40 and 59 years old, with males being affected twice as frequently as females. An association based on gender has been observed in cases of oral cancer, with males exhibiting a high prevalence of cancer related to tobacco use added by Dr. Rahul Patil , MS ENT , DNB, fellowship in head and neck cancer surgery From Apex Group of Hospitals. The Government of India has taken several initiatives to address the rise in cases of oral cancer. This includes providing free screening and treatment services for oral cancer as well as launching campaigns to raise awareness about the importance of early detection and prevention.

Apex Group of Hospitals is a chain of Hospitals managed and run by expert Medical Professionals with experience of 25 years. Currently Apex group of Hospitals manage more than 350+ beds and provide qualitative healthcare services to the people of Mumbai and surrounding areas. Apex Hospitals is located in Borivali, Kandivali & Mulund.

www.apexgroupofhospitals.com

Global Indian Entrepreneur Diipa Khosla Shines In Rimzim Couture as she gets celebrated as one of the most influential young Indians

Global Indian Entrepreneur Diipa Khosla made another stunning appearance at a recent event celebrating achievements in the realm of entrepreneurship. Listed in The GQ 35 Most Influential Young Indians 2024, Khosla exuded elegance and sophistication in a breathtaking golden Rimzim Dadu cocktail outfit. The attire, a masterpiece crafted with thousands of small metallic cords meticulously sewn together, showcased Khosla's impeccable taste and eye for detail. Complementing her ensemble were handcrafted jewels from Amama, adding a touch of glamour and luxury to her look.

With her glowy bronze glam and loose flowy curls, Diipa Khosla evoked the image of a Greek goddess, radiating confidence and grace. However, her impact extends far beyond the realm of fashion. As a trailblazer in global entrepreneurship,  she has made significant strides, leaving an indelible mark on the industry. From her distinguished speaking engagements at Harvard to her successful business venture indē wild and her philanthropic foundation Post for Change, Khosla has cemented her position as a leader.

As she represents India on global platforms, Diipa embodies the spirit of Indian entrepreneurship and creativity, inspiring women worldwide to pursue their dreams with passion and determination. With each appearance, Diipa Khosla continues to redefine the standards of success and beauty, leaving an indelible impression on those fortunate enough to witness her brilliance.

Prime Video to Premiere Documentary ‘Women of My Billion’ on May 3

Women of my Billion tells the heart-wrenching and heart-warming story of the struggles, dreams, rights, and fight against all forms of violence that unite women in today's India, seen through the eyes of Srishti Bakshi as she journeys on foot from Kanyakumari to Kashmir

 

Produced by Priyanka Chopra Jonas under the banner of Purple Pebble Pictures and Apoorva Bakshi’s Awedacious Originals, the documentary has been directed by Ajitesh Sharma.          

 

Women of my Billion is set to premiere on Prime Video in India and across 240 countries and territories worldwide on May 3, 2024

 

 *Link* - https://twitter.com/PrimeVideoIN/status/1783383442287403121?t=NNTzXUR7zrrc61qZQC5XXg&s=19

 

 *MUMBAI, India—April 24, 2024—* Prime Video, India’s most loved entertainment destination, today announced the premiere date of the upcoming documentary Women of My Billion (WOMB), a stark and touching chronicle of the fight against all forms of violence faced by women of India. Produced by Apoorva Bakshi and Monisha Thyagarajan’s Awedacious Originals in association with Priyanka Chopra Jonas’ Purple Pebble Pictures Women of my Billion follows the journey of Srishti Bakshi, as she embarked on a walking pilgrimage from Kanyakumari to Kashmir, spanning 3,800 kms over 240 days, with a mission to find and share stories about women, their struggles, dreams, rights, and their wins, against all odds.  

Directed by Ajitesh Sharma, Women of My Billion sheds light on the on-ground realities of the many trials encountered by women in India, with each one of the million steps that brought Srishti closer to her destination, dedicated to empowering women, and giving them the courage to triumph against all odds. Women of My Billion is set to premiere exclusively on Prime Video in India and across more than 240 countries and territories worldwide on May 3, 2024. Women of My Billion is the latest addition to the Prime membership. Prime members in India enjoy savings, convenience, and entertainment, all in a single membership for just ₹1499/ year.

 

"At Prime Video, we are unwavering in our mission to elevate narratives that are inspiring and can be catalysts of change,” said Manish Menghani, director and head of content licensing, at Prime Video India “Srishti Bakshi’s endeavor to shed light on these critical aspects and taking vital steps towards preventing violence against women and empowering them is a courageous initiative that needs to be taken to a wider audience. It is an honor for us to collaborate with Purple Pebble Pictures and Awedacious Originals to bring this incredibly important documentary to our customers in India and across the world.” 

 

“Women have borne the brunt of gender bias for far too long, enduring a silent struggle against entrenched social injustices that seek to suppress their voices. With WOMB, the aim is to transcend these struggles - to be a beacon of hope,” said Priyanka Chopra Jonas, Producer, Purple Pebble Pictures. “WOMB is not merely a depiction of pain and suffering, but a rallying cry and call for solidarity and action. We hope this film takes us a step closer to a world where every woman is appreciated, honored, and empowered to soar.”

 

“Women of My Billion sheds light on the many heart-breaking atrocities faced by women in India, but at the same time, it showcases the many opportunities for change brought about by digitization. Srishti’s audacious initiative is a significant step in the right direction, and we need more such champions to herald change. It’s through empowering women that we can collectively shape a future where every woman is appreciated, honored, and able to chase her dreams without constraints. I believe that the documentary ignites the fervor for advocating women’s safety and rights throughout the country. We couldn’t have found better partners than Prime Video, and through them, we will be able to reach out to, inspire, and empower audiences across the globe.", added producer Apoorva Bakshi from Awedacious Originals.

 

“Women of My Billion reveals the unified voice of Indian women, speaking out against the violence they endure and compels us to question our inherent perceptions and addresses the fatigue surrounding discussions on violence against women in India,” said UN SDG Changemaker Srishti Bakshi. “What kept me going through my journey was the knowledge that women across India are unified by their courage to fight the violence they face. It was this message of courage, self-reliance, and self-assurance that I sought to spread through my journey. It is evident that it is the violence perpetrated by a minority and the silence of the majority that perpetuates violence in our society. For me, the documentary serves as a call to action, urging the majority to break their silence and actively participate in addressing this critical issue. Change is the need of the hour and with Prime Video we hope to take this message across to audiences in not just India, but across the world.”

The Sandur Manganese & Iron Ores Limited (SMIORE) and Private Equity firm ADV Partners announced execution of a binding agreement relating to the strategic business acquisition of Arjas Steel Private Limited (Arjas) by SMIORE

Bengaluru, 26 April 2024

• This acquisition of controlling interest of Arjas from an entity affiliated to ADV Partners marks SMIORE’s foray into manufacturing of special steels & value-added products

• Arjas is a fully integrated special steel company and among the top 5 manufacturers of special steel products 

• Arjas has been valued at an Enterprise Value of ₹ 3,000 Crore

SMIORE has signed a Share Purchase Agreement (SPA) with an entity affiliated with ADV Partners, an Asia-focused private equity firm to acquire a controlling interest in Arjas. The transaction has been agreed at an Enterprise Value of ₹ 3,000 Crore and will be subject to customary regulatory approvals and closing conditions.  Through this transaction, ADV will fully divest its interest in Arjas marking another successful exit from its India portfolio. 

This strategic business acquisition accelerates SMIORE’s forward integration plans into steel & value-add products, and unlocks potential for numerous synergies and integration. Arjas is among the top 5 special steel manufacturers in India supplying to automobiles sector.  

Arjas operates out of 2 plants spread across nearly 950 acres, its flagship manufacturing facility in Andhra Pradesh and another facility in Punjab through its wholly-owned subsidiary Arjas Modern Steel Private Limited. Arjas is currently undergoing a major expansion at both its facilities, which will enhance its consolidated capacity as well as expand its downstream facilities. 

India is one of the fastest growing steel & automobiles markets in the world, Arjas is geared up to benefit from the ample opportunities for the alloy steel industry in India. Apart from automobiles, Arjas caters to a host of other industries such as energy, railways, defence, engineering, material handling and agriculture. 

Commenting on this milestone, Bahirji A. Ghorpade, Managing Director, SMIORE said: 

“This acquisition marks a significant milestone for SMIORE as we venture into steel and value-added products manufacturing. It not only unlocks numerous synergies but also represents a meaningful forward integration for SMIORE. The acquisition will take us another step closer to our strategic transition from a merchant miner to an integrated commodity producer.

Arjas is a well-established player in the special steels segment, serving a host of critical industries that align with the government’s growing focus on infrastructure and India’s rapidly growing manufacturing economy. This acquisition, coupled with our recent mining expansion, positions SMIORE on a robust growth trajectory for the years ahead.

We look forward to working with the existing team of Arjas under the leadership of Sridhar and Visweswaran and welcome them to the Sandur family.  To the customers of Arjas, we are committed to ensure that the highest standards of quality and service that Arjas has been delivering is maintained and by combining the strength of our mining capabilities with Arjas’s expertise in steel production, we will ensure a reliable and high-quality supply of products. I want to emphasize our unwavering commitment to preserving the long-term vision of Arjas to emerge as a prominent special steel company in India and we will continue the growth trajectory which had been set in place by ADV Partners.” 

Commenting on this milestone, Suresh Prabhala, Managing Partner, ADV Partners said:

“The acquisition of erstwhile Gerdau India and subsequent transformation into Arjas Steel was a unique control investment in a conventional industry.  This investment is representative of ADV’s focus on India’s manufacturing sector, ability to take a long-term view and support managements in organic and inorganic growth initiatives.  The management team led by Sridhar, under the guidance of the Company’s esteemed Independent directors, has done an excellent job navigating through challenging times while delivering growth. We believe that the partnership with SMIORE is a natural next step in Arjas’ journey to establish itself as a leader in the alloy steel industry in India and wish the company and the SMIORE group success in this journey.” 

Commenting on this transaction, Sridhar Krishnamoorthy, Managing Director, Arjas said: 

“Over the past five years, ADV and its team have contributed immensely to the successful transition of Arjas Steel into an independent entity from the  erstwhile Gerdau India. They have supported the Company through the difficult COVID period and helped implement organic and inorganic growth through investments in downstream facilities including Kocks Block, Garrett Coiler, setting up of a 20 MW solar power plant and several other initiatives and through acquisition of the business of Modern Steel in the state of Punjab.

 

These investments provide a great platform to enable Arjas to achieve its vision of becoming one of the larger special steel manufacturers in the country. The synergistic acquisition of Arjas by the SMIORE group will provide enhanced access to raw materials and further support capacity expansion to achieve our long-term goals. With the support and resources of SMIORE, Arjas will be well-positioned to enhance our offerings, capabilities and deliver greater value to our customers. This acquisition represents a new chapter in our journey and my team, and I welcome and look forward to working with the leadership of the SMIORE.”

About The Sandur Manganese & Iron Ores Limited

The Sandur Manganese & Iron Ores Limited (“SMIORE”) is one of India’s most respected private sector merchant miners and commodity producers with an operational track record spanning seven decades. At present, the Company’s operations span over three business segments i.e., Mining (Manganese & Iron Ores), Ferroalloys, and Coke and Energy. Together, these assets work in conjunction with each other to leverage the benefits of being an integrated Company in the metals and mining industry. SMIORE has an employee strength (direct and indirect) of ~4,000. The Company has recently concluded the expansion of its mining segment, after receiving the Maximum Permissible Annual Production (MPAP) from Monitoring Committee to mine 3.81 Million Tonnes of iron ore and 0.462 Million Tonnes of manganese ore.

About Arjas Steel Private Limited

Arjas is a special steel manufacturer primarily engaged in the business of manufacturing special bar quality (SBQ) steel focused towards the auto sector in India. The Company has a total employee strength of ~2,500 and a combined production capacity of ~5,00,000 MT through its integrated steel plant in Tadipatri, Andhra Pradesh and an electric arc furnace-based steel plant in Mandi Gobindgarh, Punjab. 

About ADV Partners

ADV Partners is an independent Asian regional private equity manager with over US$1.2 billion in total assets under management. ADV Partners pursues value-oriented investments in privately held mid-market companies across emerging Asia with a special focus on the manufacturing sector in India and South Asia.  Some of ADV’s manufacturing investments include Arjas Steel, Amber Enterprises, Tarsons, Micro Plastics in India and the SQ Group of Bangladesh. 

For more details, get in touch:

Bahirji A. Ghorpade Sridhar Krishnamoorthy Suresh Prabhala 

Managing Director

THE SANDUR MANGANESE & IRON ORES LIMITED

investors@sandurgroup.com 

+91 94484 97926 Managing Director 

ARJAS STEEL PRIVATE LIMITED

sridhar.krishnamoorthy@arjas.com 

+91 99805 19271 Managing Partner

ADV PARTNERS

advirteam@advpartners.com 

+65 8389 6860

Safe Harbour 

This document which have been prepared by The Sandur Manganese & Iron Ores Limited (the “Company”), Arjas Steel Private Limited and ADV Partners (collectively the “Parties”), have been prepared solely for information purposes. This document has been prepared by the Parties based on information and data which the Parties consider reliable, but the Parties makes no representation or warranty, express or implied, whatsoever, and no reliance shall be placed on, the truth, accuracy, completeness, fairness and reasonableness of the contents of this Document. This Document may not be all inclusive and may not contain all of the information that you may consider material. Any liability in respect of the contents of, or any omission from, this Document is expressly excluded.  

Certain matters discussed in this Document may contain statements regarding the Company’s market opportunity and business prospects that are individually and collectively forward-looking statements. Such forward-looking statements are not guarantees of future performance and are subject to known and unknown risks, uncertainties and assumptions that are difficult to predict. These risks and uncertainties include, but are not limited to, the performance of the Indian economy and of the economies of various international markets, the performance of the industry in India and world-wide, competition, the company’s ability to successfully implement its strategy, the Company’s future levels of growth and expansion, technological implementation, changes and advancements, changes in revenue, income or cash flows, the Company’s market preferences and its exposure to market risks, as well as other risks. The Company’s actual results, levels of activity, performance or achievements could differ materially and adversely from results expressed in or implied by this Document. The Company assumes no obligation to update any forward-looking information contained in this Document. Any forward-looking statements and projections made by third parties included in this Document are not adopted by the Company and the Company is not responsible for such third-party statements and projections. 

The Authorized Economic Operator (AEO) Status Now Extended To The Gem & Jewellery Sector: GJEPC

National, 25th April 2024: The Gem & Jewellery Export Promotion Council (GJEPC) is pleased to announce a significant milestone for the gem and jewellery industry in India. Following extensive efforts by the GJEPC in collaboration with the Ministry of Finance, the Authorized Economic Operator (AEO) status is now being extended to the gem and jewellery sector. The AEO programe was introduced as piolet project in 2011 vide Circular No. 37/2011 – Customs dated 23rd August. 2011. 

The AEO program, a crucial part of the broader ease of doing business initiative, has been instrumental in simplifying export operations across various sectors, resulting in significant time and cost savings for exporters. Despite the benefits it offers, the gem & jewellery sector was initially denied participation in the AEO program.

However, through proactive engagement with relevant Ministries, the GJEPC successfully advocated for the inclusion of the gem and jewellery industry in the AEO program. Consequently, the Ministry of Finance has communicated that units within the gem and jewellery industry are now eligible to apply for participation in the AEO program, thereby enabling them to avail associated benefits.

In line with this development, the GJEPC recently conducted an informative Outreach Program focused on obtaining Authorized Economic Operator (AEO) status. The event, held on March 18, 2024, at the Bharat Diamond Bourse, brought together industry stakeholders eager to enhance international trade operations, strengthen supply chain security, and improve global competitiveness.

Encouragingly, 20 companies have already applied for AEO status. Based on these applications, as of now Asian Star, a premier diamond and diamond jewellery manufacturer has been granted AEO Status, making it the first in the Indian gem and jewellery industry to receive the certificate.

The GJEPC expresses its gratitude to the Government, particularly the Ministry of Finance, for considering the council’s request and bringing the gem and jewellery industry under the purview of the AEO program.

 

About The Gem and Jewellery Export Promotion Council (GJEPC)

The Gem & Jewellery Export Promotion Council (GJEPC), set up by the Ministry of Commerce, Government of India (GoI) in 1966, is one of several Export Promotion Councils (EPCs) launched by the Indian Government, to boost the country’s export thrust, when India’s post-Independence economy began making forays in the international markets. Since 1998, the GJEPC has been granted autonomous status. The GJEPC is the apex body of the gems & jewellery industry and today represents 10000+ members in the sector.  With headquarters in Mumbai, GJEPC has Regional Offices in New Delhi, Kolkata, Chennai, Surat and Jaipur, all of which are major centres for the industry. It thus has a wide reach and is able to have a closer interaction with members to serve them in a direct and more meaningful manner. Over the past decades, GJEPC has emerged as one of the most active EPCs and has continuously strived to both expand its reach and depth in its promotional activities as well as widen and increase services to its members.

Facebook: www.facebook.com/GJEPC

Instagram: www.instagram.com/gjepcindia

Youtube: www.youtube.com/gjepcindia

Twitter: www.twitter.com/GJEPCIndia 

JNK India IPO subscribed 28 times on the Final Day

The Initial Public Offering of JNK India Limited was subscribed 28.07 times on the final day of bidding.

The issue received bids of 31,10,55,408 shares against the offered 1,10,83,278 equity shares, at a price band of ₹395-415, according to the data available on the stock exchanges. 

Qualified Institutional Buyer Portion was subscribed 75.72 times, Non-Institutional Investors Portion was subscribed 23.19 times, whereas Retail Portion was subscribed 4.01 times. 

IIFL Securities Limited and ICICI Securities Limited are the book-running lead managers and Link Intime India Private Limited is the registrar of the issue. 

Company Information

JNK India Limited is in the business of manufacturing process-fired heaters, reformers, and cracking furnaces (together, the “Heating Equipment”) that are required in process industries such as oil and gas refineries, petrochemicals, and fertilizer industries.

The Company has capabilities in thermal designing, engineering, manufacturing, supplying, installing, and commissioning heating equipment and caters to both domestic and overseas markets. (Source: F&S Report). Over the years the Company has diversified into flares and incinerator systems and has been developing capabilities in the renewable sector with green hydrogen. The Heating Equipment is required in process industries such as oil and gas refineries, petrochemicals, fertilizers, hydrogen and methanol plants, etc.

As of December 31, 2023, it has served 21 customers within India and 8 customers overseas. In India, it has completed projects in, amongst others, Andhra Pradesh, Assam, Bihar, Karnataka, Kerala, Maharashtra, Tamil Nadu, and West Bengal, and globally have completed projects in Nigeria and Mexico. Further, it has ongoing projects in Gujarat, Odisha, Haryana, and Rajasthan in India and globally in Oman, Algeria, and Lithuania. Further, it has completed projects in far-reaching locations which included projects in India at Numaligarh, Assam; Kochi, Kerala; Barauni, Bihar; and overseas at Lagos, Nigeria.

Some of the domestic customers include Indian Oil Corporation Limited, Tata Projects Limited, Rashtriya Chemicals & Fertilizers Limited, and Numaligarh Refinery Limited. Further, the Company has catered to overseas customers such as a leading engineering, procurement, and construction (“EPC”) company in Europe, a leading oil & gas exploration & production company in Oman, and a Middle East arm of European EPC company in oil and gas. Since its inception, the Company has been working closely with JNK Global Co. Ltd (formerly known as JNK Heaters Co. Ltd), a KOSDAQ-listed company. JNK Global Co. Ltd (formerly known as JNK Heaters Co. Ltd) is one of the corporate promoters of the Company, holding a 25.79% as of the date of the Red Herring Prospectus. 

The Company operates an in-house fabrication facility at the Mundra Special Economic Zone in Gujarat, spreads over approximately 20,243 square meters with an installed capacity of 5,000 metric tonnes of fabrication and modularization per annum. 

As of December 31, 2023, it had an order book of ₹ 8,450.27 million.

The table below shows subscription data for all the categories of investors: 

 

REC AVAILS SACE-COVERED GREEN LOAN FACILITY FOR JPY 60.536 BILLION

• SACE’S FIRST JPY-DENOMINATED LOAN TRANSACTION IN INDIA

• SACE’s FIRST GREEN LOAN TRANSACTION IN INDIA

• PARTICIPATION FROM BANKS ACROSS ASIA, AMERICA AND EUROPE

Gurugram, 25 April 2024 – In a significant step towards sustainable development in India, REC Limited, a leader in the Indian power sector, has successfully availed a SACE-Covered Green Loan for JPY 60.536 Billion to finance Eligible Green Projects in India. This strategic investment reinforces REC’s commitment to foster sustainable growth, in alignment with the Company’s Green Finance Framework.   

The green facility benefits from an 80% guarantee by Italian Export Credit Agency, SACE (Italy) under their innovative Push Strategy programme. It is a breakthrough and first of its kind successful collaboration between an Indian government entity and SACE. This facility sets a benchmark in the Indian public sector landscape for similar green financing transactions, highlighting a growing commitment to sustainable financing. The facility also marks SACE’s first JPY-denominated loan transaction and first green loan transaction in India. 

The Green Loan has loan participation from banks across Asia, USA and Europe, namely Crédit Agricole Corporate and Investment Bank, Bank of America, Citibank, KfW-Ipex Bank and Sumitomo Mitsui Banking Corporation as Mandated Lead Arrangers with Crédit Agricole Corporate and Investment Bank acting as the ECA Coordinator, Green Loan Coordinator, Documentation Bank and Facility Agent. 

This facility demonstrates REC Limited's and its partners' dedication to supporting projects that meet rigorous environmental standards, promote renewable energy and contribute to reducing carbon emissions throughout India. Additionally, it also reflects the growing momentum towards green financing and the collective efforts of stakeholders to address environmental challenges.

Commenting on this occasion, Mr. Vivek Kumar Dewangan, IAS, Chairman & Managing Director, REC said, “The successful transaction in this truly global facility is anticipated to pave way for more such collaborations, further enhancing Indo-Italian business relationships in green energy financing and sustainable projects capabilities, as well as the global community’s support for sustainable development projects in India.”

Mr. Gautam Bhansali, Head of SACE – India & South Asia, commented, “SACE is proud to partner with REC for this ‘Green Push Strategy’ transaction, which is an innovative and first in its kind structure executed in India. Through this facility, SACE is committed to support projects in renewable energy, green mobility and energy efficiency, enabling sustainable long-term growth in India.”

Mr. Franck Passillier, Senior Country Officer for India, Crédit Agricole Corporate and Investment Bank, said, “The transaction exemplifies Crédit Agricole Corporate and Investment Bank’s unwavering dedication to fostering sustainable development, in line with our Bank’s leading position in global sustainable finance for more than a decade. Our strategic collaboration with REC underscores our steadfast commitment to advancing environmentally responsible initiatives and promoting the growth of sustainable financing within India’s promising market.”

About REC Limited:

REC is a 'Maharatna' company under the administrative control of the Ministry of Power, Government of India, and is registered with RBI as Non-Banking Finance Company (NBFC), Public Financial Institution (PFI) and Infrastructure Financing Company (IFC). REC is financing the entire Power-Infrastructure sector comprising Generation, Transmission, Distribution, Renewable Energy and new technologies like Electric Vehicles, Battery Storage, Pump Storage projects, Green Hydrogen, Green Ammonia projects etc. More recently REC Limited has also diversified into the Non-Power Infrastructure sector comprising Roads & Expressways, Metro Rail, Airports, IT Communication, Social and Commercial Infrastructure (Educational Institution, Hospitals), Ports and Electro-Mechanical (E&M) works in respect of various other sectors like Steel, Refinery, etc. REC Limited provides loans of various maturities to State, Central and Private Companies for creation of infrastructure assets in the country. 

REC Limited continues to play a key strategic role in the flagship schemes of the Government for the power sector and has been nodal agency for Pradhan Mantri Sahaj Bijli Har Ghar Yojana (SAUBHAGAYA), Deen Dayal Upadhaya Gram Jyoti Yojana (DDUGJY), National Electricity Fund (NEF) Scheme which resulted in strengthening of last mile distribution system, 100% village electrification and household electrification in the country. REC has also been made the nodal agency for certain States and Union Territories for the Revamped Distribution Sector Scheme (RDSS). REC has also been given the responsibility of PM Surya Ghar Muft Bijli Yojna from Central Government. The loan book of REC stands at Rs 4.97 Lakh Crore and Net Worth at Rs. 64,787 crores as on 31st Dec, 2023.