Category: Business

New Delhi, Mar 11: Servotech Renewable Power System Ltd., in collaboration with Electra EV, has been granted a patent by the Indian Patent Office for a pioneering Electric Vehicle Charging Device designed for low-voltage EVs. This innovation addresses a critical need in India’s rapidly growing electric mobility ecosystem by enabling safe, efficient, and reliable charging for sub-200V DC EV platforms. 

The patented technology resolves a key interoperability challenge, allowing low-voltage EVs – including vehicles based on GB/T Bharat DC 001 standards – to leverage conventional high-voltage CCS2 fast-charging infrastructure. This advancement is particularly relevant for small commercial EVs, pick-up vans, and other urban mobility solutions, where reliable low-voltage charging is essential for widespread adoption.

The device incorporates advanced power management and voltage conversion capabilities, ensuring safe energy transfer, optimal charging performance, and compatibility with widely deployed fast-charging systems. By improving charger interoperability and reliability, the technology supports the growth of India’s EV ecosystem, especially in last-mile and urban mobility segments.

Arun Handa, Chief Technology Officer, Servotech Renewable Power System Ltd., commented:

“Securing this patent is a significant milestone in our innovation-led approach to EV charging technology. Low-voltage electric vehicles are vital to India’s mobility ecosystem, particularly in small commercial fleets. This patented device ensures safe, efficient, and reliable charging, enabling faster EV adoption through improved charging compatibility.”

This joint patent between Servotech and Electra EV highlights both companies’ commitment to driving next-generation EV solutions and accelerating India’s transition to sustainable urban mobility.

CAPE TOWN, South Africa, Mar 11– Africa’s mineral-rich countries are moving quickly to unlock investment, diversify production and capture more value locally. Modernized mining codes and updated regulatory frameworks are giving investors clearer rules, more certainty and access to a wider range of critical minerals. By fostering transparency and strategic alignment, these reforms are not only attracting capital but also driving the development of downstream industries and positioning Africa as a key supplier for the global energy transition.

New Laws, New Deals

Liberia is preparing to introduce a new Mining Code within the next three months, creating a National Mining Company to increase state participation in major projects and strengthen its negotiating position. Nearly 80% of the country remains geologically unexplored, offering significant opportunities across minerals and even oil and gas.

“Liberia’s geology is exceptionally rich,” said Minister of Mines and Energy, Matenokay Tingban,  in an interview with Energy Capital & Power in January. “We are seeking geomapping and exploration partners. Access to geoscientific data will allow us to negotiate stronger investment deals and develop downstream infrastructure.”

Iron ore currently dominates the country’s output – targeting 30 million tons per year by 2026 – but the new framework is expected to encourage diversification into other critical resources while facilitating partnerships for exploration and downstream processing.

Meanwhile, Namibia is finalizing a new Minerals Bill to replace its 2002 legislation, reflecting the country’s commitment to local beneficiation, inclusive participation and investment competitiveness. According to Mining Commissioner at the Ministry of Industry and Mines, Isabella Chirchir, the reforms aim “to attract capital to diversify production beyond diamonds and uranium toward strategic metals such as lithium and rare earths.”

In Central Africa, the Republic of Congo approved a draft mining code in November 2025 introducing competitive bidding, formal permitting for small-scale miners and support for in-country processing. These measures aim to increase transparency, attract investors and strengthen the domestic value chain for both traditional and strategic minerals.

Reforms Fuel Opportunity

Across the continent, countries are updating existing codes to boost investment and production. Ivory Coast is revising its mining code to support a wider range of minerals, including chromium, coltan, lithium, copper, cobalt and iron ore, complementing its existing base of 19 operating mines. Somalia is also overhauling its mining regulations to unlock frontier resources such as uranium, lithium, cobalt, gold and diamonds, reflecting growing investor interest in previously underexplored markets.

The results of such reforms are already visible. Mali, which introduced a new Mining Code in 2023, continues as Africa’s second-largest gold producer while advancing lithium projects and a new gold refinery with international partners Barrick and B2Gold. Burkina Faso, which adopted a revised code in 2024, increased gold production from roughly 57–60 tons to 94 tons in 2025, reinforcing investor confidence and its position as Africa’s fourth-largest gold producer.

Against this backdrop, African Mining Week 2026 (October 14–16, Cape Town) will bring together policymakers, industry leaders and global investors to examine these regulatory transformations and the opportunities they unlock. From exploration to downstream processing, the event highlights how modernized frameworks are turning legal certainty into tangible investment potential, connecting capital with projects poised to drive Africa’s mining sector growth.

 

Bengaluru, Mar 11th: TechnoSport, India’s fastest-growing activewear brand, today announced the appointment of Achal Sharma as Chief Technology Officer (CTO), effective immediately. In this strategic role, Achal will lead the company’s technology vision and execution, driving innovation across digital platforms, data science, engineering, and product capabilities to support TechnoSport’s next phase of scale.

With over 18 years of experience building and scaling high-performance technology organisations, Achal brings deep expertise in platform engineering, DevOps, and enterprise-grade digital transformation. Over the course of his career, he has held senior technology leadership roles at leading consumer and digital-first companies including Wakefit, Myntra, Mobile Premier League, and Vision11. In these roles, he has successfully led large-scale engineering teams, architected resilient technology platforms, and institutionalised modern development practices that significantly enhanced product velocity, platform reliability, and system performance.

As Chief Technology Officer at TechnoSport, Achal will lead the company’s technology vision and play a pivotal role in accelerating its next phase of digital growth. He will focus on strengthening TechnoSport’s core technology architecture while driving a comprehensive digital transformation across channels and data-led decision frameworks.

Achal will oversee the evolution of both backend and customer-facing technology systems, with a strong emphasis on building scalable, resilient, and customer-centric digital experiences. In addition, he will shape and execute the company’s long-term technology roadmap in alignment with TechnoSport’s broader strategic ambitions.

Working closely with cross-functional leaders across product, marketing, supply chain, and operations, Achal will help architect integrated technology capabilities that power seamless omnichannel experiences, enhance operational agility, and enable data-driven decision-making across the organisation.

Puspen Maity, CEO, TechnoSport, said, “Achal’s leadership will be instrumental in delivering on our strategic priorities for the next phase of TechnoSport’s growth. His depth of experience in scaling tech teams and driving innovation aligns with our vision to harness technology as a core driver of customer value and operational excellence. We are confident Achal will play a pivotal role in strengthening our digital ecosystem.”

Achal Sharma, Chief Technology Officer, TechnoSport, said, “I’m excited to join TechnoSport at a time when technology is reshaping how lifestyle and performance brands engage with consumers. I look forward to working with the team to build platforms that are reliable, future-ready, and capable of supporting TechnoSport’s ambitions across India and beyond.”

Achal’s appointment underscores TechnoSport’s focus on building long-term technology leadership as the brand continues to scale its digital footprint and strengthen its presence in India’s activewear market.

San Francisco, CA – Mar. 11, 2026 – Contrivian, a technology company providing intelligent mission-critical connectivity, has signed an agreement as an authorized reseller with Amazon Leo to deliver resilient, high-performance connectivity for state and local agencies in the United States. The agreement expands Contrivian’s multi-modal connectivity solutions to deliver reliable networking that can support mission-critical applications and services.

Contrivian combines low Earth orbit technology with its proprietary Lighthouse performance optimization technology and NorthStar lifecycle management solution to deliver intelligent, software-defined multi-constellation connectivity. This eliminates the need for failover across networking technologies as well as across satellite constellations, with no disruption to applications or end users.

“We aren’t just providing satellite connectivity. We’re enabling mission-critical applications and services on a global scale. We’re providing software-enabled connectivity that is intelligently integrated, continuously monitored, and managed as part of a unified operational model,” said Grant Kirkwood, CEO of Contrivian. “Our agreement with Amazon Leo strengthens that architecture. It reflects how resilient networks must now be designed. It adds true diversity at the satellite layer and gives our customers greater control, greater performance stability, and greater assurance when failure is not an option.” 

Contrivian engineers, orchestrates, and manages mission-critical connectivity for organizations that operate in environments where downtime carries operational, financial, or safety risk. The company integrates fiber, broadband, LTE/5G, and low Earth orbit satellite into a single, performance-driven architecture. 

“Amazon Leo is developing the world’s most advanced satellite communication network. Through this agreement with Contrivian, we will provide essential connectivity to state and local government agencies, enabling them to stay connected and share vital information, even in isolated areas or during service disruptions,” said Carolyn Cuppernull, Business Development at Amazon Leo for Government. 

Contrivian serves public sector agencies, healthcare providers, energy operators, financial institutions, and other critical industries. It designs, deploys, monitors, and supports connectivity across fixed sites, remote facilities, and mobile operations worldwide. The company continues to invest in advanced satellite orchestration capabilities as the global low Earth orbit ecosystem evolves. 

Mumbai, Mar 11: Truhome Finance Limited, formerly known as Shriram Housing Finance Limited, has filed its Draft Red Herring Prospectus (DRHP) with the Securities and Exchange Board of India (SEBI) to raise ₹3,000 crore through an Initial Public Offering (IPO).

The proposed IPO comprises a fresh issue of equity shares aggregating up to ₹1,500 crore and an offer for sale (OFS) of equity shares aggregating up to ₹1,500 crore by the promoter selling shareholder, Mango Crest Investment Limited.

The net proceeds from the fresh issue are proposed to be utilised to augment the company’s capital base, support future capital requirements, and expand onward lending activities in line with business growth. The funds will also ensure compliance with regulatory capital adequacy requirements prescribed by the Reserve Bank of India (RBI). Deployment of proceeds is expected over the financial years ending March 31, 2027, and March 31, 2028.

Founded in 2010, Truhome Finance Limited is a retail-focused affordable housing finance company. The company was previously a wholly owned subsidiary of Shriram Finance Limited before being acquired in December 2024 by global private equity firm Warburg Pincus.

The company offers a comprehensive suite of secured lending products, including housing loans, loans against property, and other related financial offerings. As of December 31, 2025, the company reported an average ticket size of ₹2.13 million and serves primarily creditworthy self-employed customers through a diversified distribution network of 216 branches across 19 states and union territories in India, covering metropolitan as well as Tier I, Tier II, and Tier III cities.

Truhome Finance maintains a well-diversified loan portfolio, with no single state accounting for more than 18% of its assets under management (AUM). Its three largest markets—Maharashtra, Gujarat, and Tamil Nadu—collectively account for 49.70% of total AUM.

As of December 2025, the company had served over 110,000 customers, with 76.96% of AUM from self-employed borrowers and 85.32% of AUM from customers with CIBIL scores of 700 and above. Furthermore, 94.78% of loans include women as applicants or co-applicants, reflecting the company’s commitment to inclusive housing finance.

With an AUM of ₹21,124.32 crore, Truhome Finance is the third-largest affordable housing finance company in India by AUM. It is also among the fastest-growing players in the sector, recording an AUM CAGR of 48.58% from FY23 to FY25, with the highest AUM per branch at ₹107.23 crore.

Housing loans account for 57.37% of AUM with an average ticket size of ₹1.91 million, loans against property contribute 39.22% with an average ticket size of ₹2.07 million, and other loans represent 3.41% of total AUM.

During the nine months ended December 2025 (9MFY26), the company disbursed ₹6,382.45 crore in loans, maintaining a disbursement CAGR of 31.14% over FY23–FY25.

Truhome Finance has maintained strong asset quality, with gross stage-3 assets at 1.60%, net stage-3 assets at 1.09%, and 30+ days past due (DPD) at 3.15% as of December 2025.

The company’s sourcing network includes over 3,000 in-house sales personnel, 6,600 connectors, and 821 Direct Selling Agents (DSAs). Borrowings are sourced from 48 lenders, including public sector banks, private sector banks, foreign banks, and financial institutions through term loans, external commercial borrowings (ECBs), NHB refinance, non-convertible debentures (NCDs), and securitisation.

On the financial front, Truhome Finance reported a profit after tax (PAT) of ₹333.53 crore for 9MFY26, with a return on assets (RoA) of 2.66% and a return on equity (RoE) of 11.62% (annualised). Total income increased from ₹780.49 crore in FY23 to ₹1,905.48 crore in FY25, while PAT almost doubled from ₹137.75 crore to ₹286.24 crore over the same period.

The company recently appointed former Dinesh Kumar Khara, ex-Chairman of State Bank of India, as Chairperson for a five-year term. The leadership team is headed by Subramanian Jambunathan (Ravi Subramanian), MD & CEO, who brings over three decades of experience in financial services and has been associated with the Shriram Group since 2010.

JM Financial Limited, IIFL Capital Services Limited, Jefferies India Private Limited, and Kotak Mahindra Capital Company Limited are acting as book-running lead managers to the issue.

Bangalore, Mar 11: Malaysia Airlines has announced its special fares from 10th to 23rd March for travelers in India, offering exclusive all-in return fares in economy class. Bookings will be available till 23rd March 2026, with the offer valid for travel until 18th December 2026. As the Gateway to Asia and Beyond, passengers can enjoy seamless connections to destinations such as Kuala Lumpur, Singapore, Auckland, Sydney, and more.

In addition to the special fares, the campaign will also draw attention to enhanced connectivity through new route offerings, including Firefly’s newly launched services to Cebu and Krabi. With more options for both leisure and short-haul getaways, the sale reinforces commitment to delivering greater choice, convenience, and competitive pricing for travellers during the booking period.

With the booking window available for a limited period, travellers are encouraged to plan ahead and secure their future travel plans early. Terms and conditions apply.

Mar 11: L’Atelier 1664, the lifestyle platform inspired by 1664 Blanc, has announced a creative association with leading Indian design house Abraham & Thakore. The partnership brings together modern French lifestyle sensibilities with contemporary Indian design.

Through this association, L’Atelier 1664 and Abraham & Thakore will collaborate on a series of curated experiences across fashion, design and culture. The initiative aims to celebrate craftsmanship, creativity and modern expressions of style by connecting Parisian elegance with Indian design thinking.

L’Atelier 1664 reflects the philosophy of 1664 Blanc – Good Taste with a Twist. As a lifestyle platform, it brings together tastemakers from fashion, design and cuisine to create immersive cultural experiences that celebrate individuality, creativity and refined living.

Abraham & Thakore are known for their distinctive approach to Indian design, combining traditional craftsmanship with modern aesthetics. For more than three decades, the design house has been recognised for its understated elegance, clean silhouettes and thoughtful use of textiles

Speaking about the association, Partha Sarathi Jha, Vice President, Marketing, Carlsberg India Private Limited shares

“L’Atelier 1664 was created as a platform that brings together emerging tastes, creative styles and contemporary culture trends. Our association with Abraham & Thakore brings together modern French style with Indian design, and we look forward to creating experiences that celebrate craftsmanship, individuality and creative expression.”

The visionary designer duo, Abraham & Thakore adds,

“This association with L’Atelier 1664 reflects a meeting of sensibilities – French art de vivre and the richness of Indian craftsmanship. It is a fusion of ideas that celebrates heritage, creativity, and a contemporary way of living.”

Together, the alliance forms a considered cultural exchange rather than a conventional collaboration. French modernity meets Indian craftsmanship; bold blue meets architectural white. What unites them is a belief that taste is most compelling when it carries a point of view and that true elegance lies in the confidence to add a twist.

Marking just the beginning of a creative association, the collaboration will extend beyond the runway into a series of tastefully curated events and store-led engagements across India in the months ahead.

Mumbai, Mar 11: India’s indoor amusement industry is rapidly evolving from a children-centric segment into a major pillar of the country’s growing experience economy, according to a new report titled “Ready, Set, Play: India’s Indoor Amusement Industry at a Turning Point” released by ANAROCK in collaboration with the Indian Association of Amusement Parks and Industries (IAAPI).

 The report estimates the current market size of Indoor Amusement Centres (IACs) at approximately ₹15,000 crore, reflecting sustained consumer demand, increasing formalization, and changing post-pandemic leisure preferences. Consumer spending in the sector has surged 30–40% compared to pre-pandemic levels, while Tier I cities are recording 10–15% higher per-customer spend than Tier II markets.

According to industry suppliers, consumer outlay in indoor amusement centres has increased by 15–20% in recent years, driven by greater participation, longer dwell times, and the growing popularity of immersive entertainment formats.

Commenting on the findings, Anuj Kejriwal, CEO – Retail, Leasing & Industrial Logistics at ANAROCK, said the industry is entering a transformative phase.

“India’s indoor amusement industry is evolving from predominantly children-centric recreation into a key component of the country’s experience-driven economy. Consumer spending intensity across IAC formats has strengthened significantly. As the sector expands, safety standards and regulatory clarity must remain top priorities, especially given the high footfall and complex equipment involved in these facilities.”

Post-Pandemic Boom in Experiential Demand

The COVID-19 pandemic accelerated a shift from product-led consumption to experience-driven leisure activities. With families seeking safe and engaging recreational options, indoor amusement centres have benefited from being climate-controlled and family-friendly entertainment environments.

The report’s market survey, which primarily included respondents aged 25–44, found strong demand for multi-attraction formats such as arcades, kids’ play areas, bowling alleys, and immersive gaming experiences. More than 50% of visitors spend over ₹1,000 per visit beyond ticket purchases, with additional spending on gaming credits, food and beverages, and other add-ons.

Industry Evolution and Market Outlook

The report notes that India’s indoor amusement sector generated approximately ₹8,400 crore (USD 1.009 billion) in 2024 and is projected to grow to ₹15,600 crore (USD 1.879 billion) by 2030, registering a compound annual growth rate (CAGR) of 11.3%, which surpasses the global growth rate of around 9%.

Globally, North America currently dominates the indoor amusement industry with nearly 39% market share, but the Asia-Pacific region, including India and China, is expected to drive future growth due to rapid urbanization and rising disposable incomes.

Expanding Formats and Business Models

Indoor amusement centres today span a wide variety of formats, including kids’ play zones, arcade gaming arenas, sports attractions such as bowling and trampoline parks, adventure experiences like go-karting and obstacle courses, as well as technology-driven entertainment including VR and esports gaming.

Arcades continue to remain the most popular attraction across age groups, while family-oriented play zones are particularly favored by households with young children.

Operators are increasingly focusing on capital efficiency and measured expansion, with mall-based multi-format centres becoming a dominant model in urban locations. Meanwhile, standalone and hybrid formats are emerging in densely populated areas to attract new customer segments.

Regulatory and Safety Challenges

Despite the industry’s growth potential, the report highlights several structural challenges. These include the 18% GST applied on tickets and rides, which increases pricing pressure in a cost-sensitive market, as well as varying licensing requirements across different states.

Industry stakeholders have also raised concerns about the absence of a national regulatory framework for indoor amusement centres, which can lead to operational risks and inconsistent safety standards. Operators are calling for standardized safety guidelines, streamlined municipal and fire clearances, and structured training programs for staff.

Roadmap for Sustainable Growth

The report recommends a number of measures to strengthen the sector’s long-term growth. These include rationalizing GST rates, establishing national safety and compliance standards, introducing policies that recognize indoor amusement centres as key urban entertainment infrastructure, and encouraging domestic manufacturing of amusement equipment.

According to Ankur Maheshwari, Chairman of Indian Association of Amusement Parks and Industries and Founder of Masti Zone, the report represents an important milestone for the sector.

“For over two decades, IAAPI has been at the center of India’s amusement industry. This report brings together insights from operators, developers, consumers, and policymakers to provide a comprehensive view of the indoor amusement ecosystem. With the right policy support and incentives, the industry can unlock significant growth and employment opportunities in the coming years.”

As experiential entertainment continues to gain traction across urban India, the report concludes that indoor amusement centres are poised to become a key component of the country’s evolving leisure and lifestyle economy.

Ageas Federal Life Insurance Launches Large Cap Quality Fund to Help Customers Invest in India’s Financially Strong Companies

Mumbai, Mar 11: Ageas Federal Life Insurance has announced the launch of its Large Cap Quality Fund, an open-ended index fund designed for customers seeking long-term wealth creation by investing in financially strong and well-established companies in India.

The newly launched fund is aimed at providing investors with access to a portfolio of large, stable companies that have demonstrated consistent financial performance. By focusing on businesses with strong fundamentals and disciplined financial management, the fund seeks to offer customers an opportunity to grow their wealth while remaining aligned with their long-term financial goals.

The fund follows a structured investment strategy by tracking the BSE Large Cap 100 Quality 30 Index, which selects companies based on key financial indicators such as return on equity, disciplined balance sheets, and overall financial strength. This approach enables investors to participate in the growth of companies known for stability and long-term performance.

Through this fund, investors gain exposure to a diversified basket of leading companies across multiple sectors. Such diversification helps reduce the risks associated with dependence on a single company or industry while allowing investors to benefit from India’s long-term economic growth potential.

Most of the fund’s investments will be allocated to equity shares of companies included in the index, while a small portion may be held in cash or short-term instruments to manage liquidity efficiently. By maintaining a disciplined index-tracking approach and focusing on quality businesses, the fund aims to deliver a resilient investment portfolio over the long term.

Commenting on the launch, Jude Gomes, Managing Director and CEO of Ageas Federal Life Insurance, said:

“India continues to offer strong long-term growth opportunities, and investors today are increasingly looking for stable and disciplined ways to participate in that journey. At Ageas Federal Life Insurance, we remain committed to helping customers build financial security through simple and transparent investment solutions that align with their long-term aspirations.”

With its focus on high-quality companies, diversification across sectors, and a disciplined index-based strategy, the Large Cap Quality Fund provides investors with a straightforward avenue to invest in some of India’s most fundamentally strong businesses while working toward long-term financial goals.