Showing posts with label Uttarakhand. Show all posts
Showing posts with label Uttarakhand. Show all posts

Tata Power’s EcoCrew Engages 3 Lakh Students, Fuels India’s Largest Energy Literacy Movement

Tata Power’s EcoCrew Engages 3 Lakh Students, Fuels India’s Largest Energy Literacy Movement

In yet another pioneering initiative to bring alive its commitment to India’s energy transition and to fast track the adoption of solar energy, Tata Power has created new benchmarks with its EcoCrew program - India’s largest Energy Literacy Movement.

Reaching almost 3 Lakh students in 1000+ schools across Uttar Pradesh and Uttarakhand, the program sensitised students to the impact of global warming and climate change and educated them on adoption of solar energy for their homes as an easy and affordable alternative solution.

The program has not only created legions of EcoCrew who are BFFs of Nature and true ambassadors of sustainability in their communities, but also helped the cause of making Uttar Pradesh and Uttarakhand the 3rd largest adopters of rooftop solar under the PMSGY with 3.14 lakh installations to date amounting to 1.1 GW.

The EcoCrew movement has travelled 24 cities over the last 12 months, cumulating more than 50,000 minutes of interactive on-ground learning and close to 1,50,000 minutes of online engagement. Students learnt about clean energy alternatives, solar energy and energy conservation. They pledged to become change makers in their homes, communities and neighbourhoods.

Students also participated in energy audits, creative competitions, and a 21-day gamified online sustainability challenge, encouraging measurable planet-friendly actions both at school and at home. Tata Power’s sustainability buddy Globey brought alive the need for each of us taking small actions every day to make a big change for planet Earth.

The top schools and students who actively championed and engaged with the initiative are all set to be felicitated and celebrated at 5 mega finale events over the next 2 weeks in Lucknow, Varanasi, Agra, Gorakhpur and Meerut.

Today, Uttar Pradesh stands among India’s top 3 states in rooftop solar adoption, with 2.6 lakh installations and a total installed capacity of 901.42 MW. This rapid progress has been enabled by the dual subsidy structure, combining Central and State incentives — with up to ₹78,000 from the Central Government and ₹30,000 from UPNEDA — making solar adoption more accessible and affordable for households. In alignment with the Government’s clean energy vision and to further accelerate rooftop solar adoption, Tata Power has also been promoting its ‘GharGharSolar’ initiative — first launched in Varanasi last year — to drive large-scale awareness and installation of residential rooftop solar systems under PMSGY.

The journey of EcoCrew in Uttar Pradesh marks the beginning of a larger national mission. Tata Power plans to expand the initiative across multiple states, reaching millions of students in the coming years to build a foundation of energy literacy, climate responsibility, and accelerate solar readiness.

By nurturing a generation of informed and responsible young citizens, Tata Power is strengthening India’s roadmap to energy independence, in line with the national vision of Atmanirbhar Bharat and the clean energy goals of the PM Surya Ghar Yojana.

Starscapes and Uttarakhand Govt Launch India’s First Statewide Astro-Tourism Guide Training Program

Starscapes and Uttarakhand Govt Launch India’s First Statewide Astro-Tourism Guide Training Program

Starscapes, India’s leading astro-tourism company, has partnered with the Uttarakhand Tourism Board (UTTB) and the Tourism & Hospitality Skill Council (THSC) to launch a comprehensive skill development initiative aimed at training 500 aspiring Astro-Tourism Guides across the state over the next six months. This fully funded program, supported by the Government of Uttarakhand, combines astronomy education with practical skills in hospitality, marketing, and community engagement.

Under the tripartite agreement, UTTB will serve as the sponsoring authority, Starscapes as the training partner, and THSC as the executing partner.

Recognizing the importance of community involvement in conserving dark skies and reducing light pollution, Starscapes has collaborated with the Tourism and Hospitality Skill Council, a government-recognized body under India’s Skill Development Mission, to certify its training curriculum as an official course. This ensures that participants not only gain in-depth knowledge of astronomy and telescope handling but also acquire employable skills that can empower them to pursue careers in astro-tourism and related hospitality services.

The training will be conducted across multiple locations in Uttarakhand, including Dehradun, Rishikesh, Loha Ghat (Champawat), Munsiyari (Pithoragarh), Ramnagar (Nainital), Powri Lansdowne, Almora, Kausani, Karnaprayag, Tehri, Udham Singh Nagar, Nainital, and Chopta.

Targeting local youth, the program is designed to support community-driven tourism initiatives such as homestays. Participants will learn to operate independently while promoting sustainable astro-tourism, contributing to dark sky conservation, and generating income for their communities.

Vivek Shandilya, Vice President, Business Development, Tourism & Hospitality Skill Council (THSC),Initiatives like these play a significant role in building a future of community-led and responsible tourism. The ‘Astro-Tourism Guides’ Skill Development Program will equip local youth with the right skill set for promising careers in the field of tourism, empower local economies and help preserve our dark skies. We look forward to working with Uttarakhand Tourism Board and Starscapes to bring formal recognition and certification to this unique program."

Mrs Poonam Chand, Additional Director, Uttarakhand Tourism Development Board, "This initiative aligns perfectly with our vision of promoting responsible and community-based tourism in Uttarakhand. By supporting local youth, we are fostering both economic development and environmental conservation."

Commenting on this Ramashish Ray, Founder of Starscapes, said, "At Starscapes, we believe that sustainable impact comes from engaging communities directly. By training local youth astro tourism guides and empowering them with employability skills, we are building a network of advocates who can help conserve our dark skies while creating meaningful livelihood opportunities."

Participants who complete the program will receive government-certified certification, making them eligible for employment within the tourism and hospitality sector, as well as opportunities to collaborate with Starscapes in ongoing community and astro-tourism initiatives.

The program will officially commence in October, and training will continue through March 2026, ensuring a thorough and impactful learning experience across the state.

About Starscapes:

Starscapes is India’s premier experiential astronomy venture, dedicated to promoting sustainable live and online celestial exploration. With a nationwide network of observatories, skilled teams, school and hospitality affiliates, and eco-friendly initiatives, Starscapes strives to enrich education and provide unforgettable cosmic experiences.

Why the 2013 Uttarakhand Floods Must Be Remembered

Why the 2013 Uttarakhand Floods Must Be Remembered

Increasing number of disasters in the region  

On June 16, 2013, Uttarakhand witnessed one of the most devastating disasters in its history. Unprecedented rainfall, measuring 385.1mm - over 440% above the normal for the onset of the monsoon - triggered catastrophic floods and landslides. The deluge, intensified by a cloudburst and a glacial lake outburst flood, caused the Chorabari Lake near Kedarnath to overflow, unleashing torrents of water and debris downstream. The disaster claimed over 6,000 lives, stranded more than 100,000 pilgrims and tourists, and obliterated infrastructure across the state.

The immediate response involved massive rescue operations. The Indian Army launched Operation Surya Hope, deploying over 10,000 troops, while the Indian Air Force initiated Operation Rahat, which became one of the largest civilian rescue missions by air, evacuating nearly 20,000 people and delivering essential supplies. Despite these efforts, the scale of the disaster exposed significant shortcomings in preparedness and early warning systems. Although the India Meteorological Department had issued alerts, communication breakdowns and a lack of coordinated action led to delayed evacuations and increased casualties.

Why the 2013 Uttarakhand Floods Must Be Remembered
A school in Rudraprayag district, Uttarakhand, rebuilt as part of SEEDS’ post-disaster recovery efforts following the 2013 floods. Along with safety-focused infrastructure adapted to the hilly terrain, SEEDS has also conducted mock drills to help students prepare for emergencies.

Amid this chaos, civil society efforts helped plug the gaps. Sustainable Environment and Ecological Development Society (SEEDS), one of the first responders, focused on urgent unmet needs - supporting women’s privacy in overcrowded shelters and helping families who had dry rations but no means to cook them. Over 190 of the most vulnerable families in Rudraprayag received family tents and utensil kits. Makeshift schooling was enabled with temporary tents and cooking provisions for mid-day meals.

Why the 2013 Uttarakhand Floods Must Be Remembered
Students outside a newly rebuilt school in Chamoli district, Uttarakhand. Reconstructed by SEEDS in the aftermath of the 2013 floods, the facility is designed to be climate-resilient and safe for children in this high-risk seismic and landslide-prone zone.

With many schools either damaged or reduced to rubble, children’s education was severely disrupted - leaving students without safe spaces to learn or gather. In the months that followed, the organisation went on to rebuild 18 schools across Rudraprayag and Chamoli districts, using earthquake-resilient, lightweight materials that doubled as safe spaces and community hubs. The effort also included disaster preparedness training for over 2,000 students and residents, laying the groundwork for a more informed and resilient response in future emergencies.

While these efforts brought some stability to pockets of the affected region, the broader picture across Uttarakhand was far more sobering. The state’s tourism and pilgrimage infrastructure was shattered. Roads, schools, health centres, and water supply lines had to be rebuilt from scratch. The psychological toll on survivors, especially those who lost entire families, still lingers.

Why the 2013 Uttarakhand Floods Must Be Remembered
An evacuation plan being installed at Rajkiya Ucchatar Prathmik Vidyalaya, Karokhi, Ganganagar, Rudraprayag - one of the schools reconstructed by SEEDS after the 2013 Uttarakhand floods, with support from Ambuja Cement Foundation.

Long-term effects extended beyond physical loss. For months, communities faced food shortages and lack of healthcare. Livelihoods dependent on tourism took years to recover. Many survivors left the hills entirely, their ancestral homes abandoned. For a while, Kedarnath became a symbol of resilience - but also a grim reminder of the consequences of ignoring environmental limits.

The 2013 tragedy was a national wake-up call. There was a noticeable shift in how disasters were managed - more satellite monitoring, improved coordination between agencies, and the setting up of early warning systems in vulnerable regions. Looking back over the past 12 years, these steps represent meaningful progress. Yet, the increasing frequency of disasters in Uttarakhand signals that long-term, community-based resilience is still a work in progress.

This has become clear through recurring climate-related disasters. In 2021, a glacier broke off in Chamoli, unleashing a sudden surge in the Rishi Ganga river, destroying hydropower projects and claiming over 200 lives. In 2023, Joshimath made headlines for land subsidence - homes cracking open, roads warping, and families being evacuated.

In 2024, heavy rainfall triggered landslides across several regions, including Tingad village in Tehri district, where over 35 homes were destroyed and two schools deemed unsafe. SEEDS, which has been active in Uttarakhand since the 2013 floods, supported efforts to ensure children could continue learning. Working with local communities, they helped set up temporary classrooms on donated land, with basic sanitation and clean drinking water facilities. It was a small but necessary step toward restoring normalcy as families began to rebuild.

In fact, Uttarakhand’s history of disasters goes back decades. In 1970, a cloudburst over the Alaknanda Valley caused massive floods that wiped out villages and altered river courses. In 1998, a landslide in Malpa buried an entire village, killing over 200 people including several pilgrims. In 2012, just a year before Kedarnath, cloudbursts caused flash floods that disrupted the Char Dham Yatra and claimed several lives. Each time, warnings were issued. Each time, the state returned to business as usual once the water receded.

Uttarakhand sits in a seismically active, ecologically fragile zone. Yet, construction continues on precarious slopes, forests make way for highways, and rivers are redirected for energy. Climate change only intensifies these risks - melting glaciers, short spells of heavy rain, and unseasonal heat are now common. Despite clear patterns, these disasters are often labelled ‘low’ or ‘medium’ impact events, downplaying the long-term consequences.

What happened in June 2013 was not an anomaly. It was a warning. And unless we treat it as such - changing how we build, how we prepare, and how we respect the Himalayas - it will not be the last.

L&T Achieves Breakthrough in India’s Longest Rail Tunnel on Rishikesh-Karnaprayag Rail Line

L&T Achieves Breakthrough in India’s Longest Rail Tunnel on Rishikesh-Karnaprayag Rail Line

Larsen & Toubro has achieved the breakthrough in India’s longest railway tunnel – the 14.57 km Tunnel No. 8 – on the 125-km Rishikesh-Karnaprayag Broad Gauge Rail Link Project of Rail Vikas Nigam Limited (RVNL). Tunnel No. 8 stretches between Devprayag and Janasu in Uttarakhand.

The breakthrough was achieved using a state-of-the-art Single-Shield Tunnel Boring Machine (TBM) named Shakti, of 9.11m diameter, which is also the largest TBM to be deployed in the Himalayan region. Excavating at an average rate of 413 meters per month, 10.4 km of the tunnel was completed with TBM. The New Austrian Tunnelling Method (NATM) was used to complete the remaining 4.11 km of the tunnel.

L&T Achieves Breakthrough in India’s Longest Rail Tunnel on Rishikesh-Karnaprayag Rail Line

Celebrating the milestone, Union Railway Minister Mr Ashwini Vaishnaw, in the presence of Uttarakhand Chief Minister Mr Pushkar Singh Dhami, described the achievement as “a testament to India’s engineering strength and the commitment to enhancing railway infrastructure in even the most difficult terrains.”

Chief Minister Mr Dhami highlighted the tunnel’s potential to revolutionise Uttarakhand’s socio-economic landscape by enhancing connectivity to remote areas, boosting tourism and economic growth.

"This significant breakthrough in one of the most challenging terrains, reflects our commitment and strong collaboration between our client RVNL," said Mr S V Desai, Whole- Time Director & Senior Executive Vice President (Civil Infrastructure), L&T. "This milestone fosters a deep sense of collective achievement within our team, proving that with dedication and innovation, no challenge is insurmountable."

L&T’s role in RVNL’s 125-km Rishikesh-Karnaprayag Railway Line project which connects Rishikesh, Devprayag, Srinagar, Rudraprayag, Gauchar, and Karnaprayag across five Himalayan districts, cutting travel time from seven hours to two and supporting the Char Dham Yatra, covers Packages 2 and 4.

In Package 4, L&T is building India’s longest railway tunnel (14.5-km upline, 13.1-km downline). Package 2 includes 26.6 km of tunnel excavation, 28 km of tunnel lining, two railway bridges, one road bridge, and embankments.

Background:

Larsen & Toubro is a USD 27 billion Indian multinational enterprise engaged in EPC Projects, Hi-Tech Manufacturing, and Services, operating across multiple geographies. A strong, customer–focused approach and the constant quest for top-class quality have enabled L&T to attain and sustain leadership in its major lines of business for eight decades.

National Stock Exchange and Uttarakhand Govt Sign MoU To Enable The State's SMEs Raise Funds via IPOs

National Stock Exchange and Uttarakhand Govt Sign MoU To Enable The State's SMEs Raise Funds via IPOs

Also discussed, issuances of Sustainability Linked Bonds towards financing infrastructure and development projects. 

India’s leading stock exchange, National Stock Exchange (NSE) and the Government of Uttarakhand have signed a Memorandum of Understanding (MoU) to spread awareness amongst MSMEs of the state for fund raising via IPO mechanism using NSE SME Platform - Emerge.

A team of Senior officials of Uttarakhand Government led by Hon’ble Chief Minister, Shri Pushkar Singh Dhami, visited NSE, Head Office at BKC, Mumbai today.

The MoU was exchanged between the Government of Uttarakhand and National Stock Exchange on 6th November 2023 at NSE BKC office, Mumbai. As part of the understanding, NSE with the support of the Government of Uttarakhand, will conduct awareness drive through seminars, MSME camps, knowledge sessions, road shows, workshops to guide corporates across the state for fund raising on NSE Emerge platform and handhold the companies in the listing process.

National Stock Exchange and Uttarakhand Govt Sign MoU To Enable The State's SMEs Raise Funds via IPOs

In addition to the customa5ry bell ringing ceremony, a high-level meeting was held among Uttarakhand Government & NSE officials in the presence of Hon’ble Chief Minister Shri Pushkar Singh Dhami and Shri Ashishkumar Chauhan, Managing Director & CEO, NSE. During the meeting various issues including the launch of Sustainability Linked Bonds/Green bonds, Outcome funding on Social Stock Exchange (SSE), generating employment opportunities for rural and urban youth, opportunities in the sector of Power trading and Investor Awareness Sessions across the state were discussed.

Hon’ble Chief Minister Shri Pushkar Singh Dhami, Government of Uttarakhand, said: “The Dev Bhoomi of Uttarakhand is a spiritual land brimming with natural destinations including rivers, glaciers and multiple such attractions. I congratulate the Directorate of Industries (MSME) of the Government of Uttarakhand for signing a MoU with the National Stock Exchange to encourage and support the MSMEs of our state and enable them to pursue the capital market for growth opportunities. As a part of the MOU, we shall jointly conduct awareness sessions for the MSMEs to help them understand the process of fund raising and the benefits of listing on the stock exchange and providing financial literacy programs for youth of the state. We envision launch of Sustainability Linked Bond / Green Bond for infrastructure projects.”

Shri Ashishkumar Chauhan, MD & CEO, NSE said, “Today, at NSE BKC Office, Government of Uttarakhand and National Stock Exchange have entered in a MoU to collaborate and support the growth of MSMEs via NSE Emerge, an alternative fund-raising platform for MSMEs. NSE Emerge enables SMEs to raise capital in an efficient manner and increase their visibility through the listing on the stock exchange.in collaboration with the Government and provide a walk-through of the fund-raising process. We urge the state MSMEs to come forward and avail the new source of financing through NSE Emerge. We are also committed to work with the state government to facilitate issuance of Sustainability Linked Bonds, Outcome funding on Social Stock Exchange (SSE), generating entrepreneurship opportunities for rural and urban youth, opportunities in the sector of Power trading and Investor Awareness Sessions across the state. We look forward for long term association with Government of Uttarakhand for exploring new opportunities under financial market development activity.


National Stock Exchange of India (NSE) is the world’s largest derivatives exchange by trading volume (contracts) as per the statistics maintained by Futures Industry Association (FIA) for calendar year 2022. NSE is ranked 3rd in the world in the cash equities by number of trades as per the statistics maintained by the World Federation of Exchanges (WFE) for calendar year 2022. NSE was the first exchange in India to implement electronic or screen-based trading. It began operations in 1994 and is ranked as the largest stock exchange in India in terms of total and average daily turnover for equity shares every year since 1995, based on SEBI data. NSE has a fully integrated business model comprising exchange listings, trading services, clearing and settlement services, indices, market data feeds, technology solutions and financial education offerings. NSE also oversees compliance by trading, clearing members and listed companies with the rules and regulations of SEBI and the exchange. NSE is a pioneer in technology and ensures the reliability and performance of its systems through a culture of innovation and investment in technology.

For more information, please visit: www.nseindia.com

IIT Roorkee Celebrates Yuva Sangam-II: Youth from Uttarakhand to Visit Telangana

IIT Roorkee Celebrates Yuva Sangam-II: Youth from Uttarakhand to Visit Telangana
An initiative by the Government of India to strengthen people-to-people connections, especially among youth across the Nation.

Celebrating the Yuva Sangam-II, the Indian Institute of Technology Roorkee (IIT Roorkee) is all set to welcome the youth from various districts of Uttarakhand who are going to visit Telangana under the Yuva Sangam-II program. This would provide Telangana with a unique opportunity to interact with the rural public of Uttarakhand and learn about their cultural practices, food, way of living, and customs. Yuva Sangam is an initiative of the Government of India under Ek Bharat Shrestha Bharat, which focuses on conducting exposure tours of the youths comprising mainly students studying in Higher Educational institutions (HEIs) & some off-campus youths from one state to another state and vice versa. The students from Uttarakhand will visit various places in Telangana and will be acquainted with various facets of the state’s culture, tourism and development. It provides an immersive experience of numerous facets of life, development landmarks, recent achievements, and a youth connection in the host state. During their visits, the youth will have a multi-dimensional exposure under five broad areas – Paryatan (Tourism), Parampara (Traditions), Pragati (Development) and Paraspar Sampark (People-to-people connect), Prodyogik. (Technology).

The Uttarakhand team constitutes of 23 boys and 22 girls studying in various colleges and universities. The inauguration of the event was held at IIT Roorkee on 14th May 2023. The inaugural event was attended by Prof. K K Pant, Director, Prof. M K Barua, Dean of Student’s Welfare, Prof. M V Sunil Krishna Associate Dean of Student’s Welfare, among others. The event saw the welcoming of the Uttarakhand delegates and several cultural performances highlighting the state’s cultural heritage.

IIT Roorkee Celebrates Yuva Sangam-II: Youth from Uttarakhand to Visit Telangana

IIT Roorkee Celebrates Yuva Sangam-II: Youth from Uttarakhand to Visit Telangana
The Government of India, under the leadership of Prime Minister Narendra Modi conceptualized the Yuva Sangam-II program. He had envisioned ‘One India, Best India’; to make it come true, this special campaign is being run by the Ministry of Education, Government of India. The second phase started after the stupendous success of the first phase.

IIT Roorkee Celebrates Yuva Sangam-II: Youth from Uttarakhand to Visit Telangana

On the occasion, Prof K K Pant, Director, IIT Roorkee, said, " This programme allows students from all walks of life to immerse themselves in different cultures around India and build a base for United India and Ek Bharat Shrestha Bharat concept along with the promotion of culture and societal values among youths. It aims to provide young people with a platform for interacting with experts from various fields and learning about career opportunities, skill development, and entrepreneurship."

Prof Mukesh Kumar Barua, Dean of Students' Welfare, IIT Roorkee, highlighted, "Yuva Sangam aims to develop skills and capabilities in leadership, communication, critical thinking, and problem-solving. As part of the programme, the youth are encouraged to cultivate a culture of innovation and expose them who embody talent, global knowledge, and creativity to cultural values that reflect the country’s humane philosophy."

Starscapes Expands its Presence in Uttarakhand, Launches New Observatory in Mukteshwar

Starscapes Mukteshwar Kids activity area
Starscapes Mukteshwar Kids activity area

After an overwhelming response for their observatory in Kausani and Bhimtal, Starscapes, India's leading Astro tourism company, has launched its third public observatory in Uttarakhand.

Starscapes’ new observatory in Mukteshwar will offer tourists a holistic astronomical experience, with a variety of activities both during the day and at night, ranging from stargazing excursions to astrophotography, and sun observation. Located at Sargakhet in Mukteshwar, it is easily accessible from all the main tourist sites in the area. Additionally, the new observatory is only an 8-hour drive from Delhi for anyone looking to spend a weekend away from the city.


A trained astronomy expert will guide the visitors on their stargazing journey. The observatory has an astronomy experience centre where a number of engaging sessions will be conducted round the clock. The Experience Center has a virtual room that explains constellations and the night sky using Mukteshwar's precise GPS coordinates. Visitors can also take part in beginner-level astrophotography classes that teach them how to take pictures of star trails and constellations. There is also an on-site cafe, a dedicated activity zone for kids , and a sit-out area with a stunning view of the Himalayas.

Some of the other activities are
  • Stargazing sessions: A guided session by Starscapes ‘Starguides’ who will tell you all about the universe.
  • Sun Observation: Want to watch the sun without squinting in agony? Starscapes can arrange for safe viewing of the sun to discover some of the fascinating aspects you didn't know about the sun.
  • Star parties: Get your group along to experience the enigma of the cosmos with an up-close-and-personal viewing of the moon and other planetary objects. From stargazing safari to astrophotography, Starscapes’ Star parties will have it all.
  • Selfie with the stars: We're not talking about movie stars here; we're talking about real stars. Imagine a backdrop of star-studded night sky and a selfie with the stars? Starscapes can make it happen.
Starscapes Mukteshwar

Starscapes Mukteshwar

Commenting on the new launch, Paul Savio, CEO and Co-Founder, Starscapes, said, “A few months ago, we conducted an Astro-camp in Mukteshwar, for which we got an incredibly positive response from tourists as well as from the local community in Mukteshwar. The response we received was the deciding factor for opening a permanent observatory in Mukteshwar. A picturesque and charming location like Mukteshwar offers visitors a wonderful opportunity to experience the magic of the night sky and explore the great outdoors. Our observatories in Kausani and Bhimtal have been popular destinations for Astro tourism. We hope to receive a similar response for our new observatory in Mukteshwar

Location map: https://goo.gl/maps/zxfBos1RRaygUPHr5

To book tickets: Call 9667307015

About Starscapes Private Limited

Starscapes is a unique platform that offers a holistic astronomy experience to give voice to your curiosity about the vast skies beyond our stratosphere. Founded in 2017 by astronomy aficionado Ramashish Ray with Paul Savio joining him as Co-Founder and CEO in 2019, Starscapes is India’s first and only chain of observatories that gives travel enthusiasts an integrated astronomy experience.

Wire & Cable Manufacturer, V-Marc Becomes 1st Manufacturing Co. from Uttarakhand to be Listed on NSE Emerge

Wire & Cable Manufacturer, V-Marc files for IPO

First manufacturing Company from Uttarakhand to be listed on NSE Emerge


HARIDWAR, India, Feb. 19, 2021 /PRNewswire/ -- Haridwar based, Wires and Cables manufacturer, V-Marc India Ltd, has filed its document with the regulator for an Initial Public Offering of upto 68,40,000 Equity Shares of Face Value of Rs. 10 per equity share. As per market sources, the company plans to raise about Rs. 25 - 30 crores. The company may consider to do a private placement of 8,40,000 equity shares subject to consideration and consultation of the Book Running Lead Manager.

The company intends to utilize the net proceeds from the issue to fund the capital expenditure for its proposed new manufacturing facility at Roorkee to the tune of Rs. 15.00 crore, for working capital requirements to the tune of Rs. 5.00 crore and balance for general corporate purposes.

The company has an operating history of around 15 years and manufactures and markets BIS and CE certified wires and cables under the brand name 'V-MARC' out of its two manufacturing facilities in Haridwar, Uttarakhand. The Company sells their products through a diversified sales & distribution mix, majorly by 1) securing government tenders for supply to government projects 2) supply to EPC contractors for turnkey projects and 3) their dealer & distribution network of more than 650 dealers and direct sales to few private companies. It has widespread domestic presence through its customers spread over 21 states. It caters to a diverse customer base comprising government companies, PSUs, retailers, distributors, dealers and contractors across industries including power, real estate, telecom and railways.

In FY 20, the company had a revenue from operations of Rs 171.24 cr with an EBITDA of Rs. 1304.95 lakhs and PAT of Rs. 464.60 lakhs.

The wires and cables industry which consists of power cables, building wires, telecom cables, control & instrumentation cables, optical fiber cables and other cables is projected to grow at a CAGR of 11% and is a direct beneficiary of development of power generation and distribution and infrastructure and comprises a share of 40% of the electrical industry in the India.

The proposed equity shares are to be listed on the Emerge Platform of the National Stock Exchange.

The issue is lead managed by Pantomath Capital Advisors Limited. SME market which saw a lull in the past two years due to the market conditions and economic scenario, is gearing up once again to be revived with interesting companies filing for an IPO on SME Exchanges. The past six months saw bumper listings of many large companies on the Main Board which indicates positive market sentiments and should be a boost for SME markets as well in the coming year.

About V-Marc

V-Marc is one of the global leader in providing reliable and consistent quality of products, we enable our clients to achieve more and outperform their competitors and stay ahead of the innovation curve. The growth of the latter is the first stepping stone towards the growth of the company and hence customer's satisfaction is its prime objective. V-Marc has earned the trust and reputation in India by winning the customer's confidence. Several thousand kilometre of LT PVC cables of 1.1 KV voltage grade, several lacs kilometers of wires & Cables have been manufactured and are in operation in different parts of India.V-marc's LT XLPE / PVC Cables are preferred choice in Power Plants, Distribution Systems, Heavy Industries, and many other utilities. The Organization is also committed to comply with all applicable environments, health & safety legislation and all requirements of interested parties. We are poised for a big growth both in quantity and quality.

Website - https://v-marc.com/


Market Reports

Market Report & Surveys
IndianWeb2.com © all rights reserved