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Kalyani Group to invest Rs 26,000 crore in Odisha
Money Control
·
1y ago
Medial
Kalyani Steel Limited plans to invest Rs 26,000 crore in setting up a titanium metal and aerospace components manufacturing facility, as well as an integrated advanced specialty steel and automotive components manufacturing complex in Odisha's Dhenkanal district. The project, with a combined investment of over Rs 26,000 crore, is expected to generate over 12,000 employment opportunities and promote industrial growth in the state. The collaboration aims to boost the local MSMEs, create entrepreneurship, and enhance Odisha's skilling landscape in the aerospace, defence, and automotive manufacturing sectors.
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TechnoSport to invest Rs 100 crore to set up state-of-the-art activewear manufacturing facility in Odisha
IndianStartupNews
·
29d ago
Medial
TechnoSport has partnered with the Government of Odisha to invest Rs 100 crore in establishing an activewear manufacturing facility as per their MoU at Odisha-Tex 2025. This initiative will create over 1,000 jobs and contribute to Odisha's industrial growth and development. Located in a modern industrial estate, the facility will boost exports exceeding $100 million and RPG revenues. With a focus on women workers, it will feature a smart factory using renewable energy and recycling fabric waste.
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Odisha government approves Rs 1.28Cr grant for 10 startups; know about these startups
IndianStartupNews
·
1y ago
Medial
The Government of Odisha has approved a grant of Rs 1.28 crore $154,000 to 10 high-potential startups in the state to boost innovation and entrepreneurship in Odisha and supporting the growth of startups in different sectors.
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Arthan Finance secures Rs 50 Cr funding from Incofin and Dell Foundation
YourStory
·
1y ago
Medial
Arthan Finance, an NBFC, has raised Rs 50 crore in Series B funding from Incofin India Progress Fund and the Michael & Susan Dell Foundation. The company plans to use the funding to increase its assets under management, expand geographically, and invest in AI and ML-based underwriting systems. Arthan Finance operates in Maharashtra, Odisha, Andhra Pradesh, and Telangana, providing loans to self-employed nano and micro entrepreneurs in small towns. So far, it has disbursed over Rs 500 crore to more than 20,000 borrowers.
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Bharat Forge re-appoints Amit Kalyani as vice chairman and joint MD
Livemint
·
1y ago
Medial
Bharat Forge Ltd has extended the tenure of Amit Kalyani as vice chairman and joint managing director for another five years, starting from 11 May 2024. The decision, made by the board of directors, is subject to shareholder approval. Amit Kalyani, who has been with the company since 1999, has played a significant role in various areas including operations, manufacturing, IT, finance, acquisitions, and diversification of the business. Bharat Forge is a leading supplier of defence-to-auto components and belongs to the Kalyani Group.
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JSW Group not withdrawing ₹40,000 crore EV manufacturing project from Odisha | Mint
Livemint
·
11m ago
Medial
JSW group has denied reports of withdrawing its ₹40,000 crore electric vehicle (EV) manufacturing project from Odisha to Maharashtra. The conglomerate had signed a memorandum of understanding (MoU) with the Odisha government in February to establish an EV and battery manufacturing project in Cuttack and Paradip. However, recent reports suggested the company was considering shifting the project to Maharashtra. JSW group has clarified that it is not withdrawing from Odisha. The project includes a 50 GWH EV battery plant, EV manufacturing, lithium refinery, copper smelter, and related component manufacturing units.
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Arthan Finance snags Series B cheque from Incofin, MSDF
VCCircle
·
1y ago
Medial
Arthan Finance, a non-banking financial company in India that provides loans to self-employed micro-entrepreneurs, has secured Rs 50 crore ($6 million) in its Series B funding round. The funds were raised from Incofin India Progress Fund and the Michael & Susan Dell Foundation. Arthan Finance plans to use the capital to expand its operations and invest in technological advancements, aiming to improve its credit risk assessment capabilities and serve more underserved regions. The company has already disbursed over Rs 500 crore to more than 20,000 borrowers and operates in Maharashtra, Odisha, Andhra Pradesh, and Telangana.
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Shareholder nay to related party transactions may jeopardise Kalyani Group firm
Livemint
·
8m ago
Medial
Minority shareholders of Automotive Axles Ltd (AAL), a Kalyani Group company, have rejected related party transactions with Meritor HVS India Ltd (MHVSIL), which could disrupt its operations. Proxy advisory firms raised concerns about transparency and potential erosion of shareholder value in the arrangement between AAL and MHVSIL. AAL will now need to seek alternative arrangements for the distribution of its automotive components. The rejection could impact the company's future growth, as supply to MHVSIL constitutes about 80% of AAL's sales. The Kalyani Group has not yet commented on the matter.
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Epsilon to invest Rs 15,350 Cr for EV battery facility in Karnataka
YourStory
·
6m ago
Medial
Epsilon Group plans to invest Rs 15,350 crore in Karnataka to establish a manufacturing and research facility for EV battery materials, focusing on graphite anode and LFP cathode production. Signed at the Invest Karnataka Summit, the initiative aims to bolster India's EV ecosystem, create jobs, and reduce import dependency. The investment includes Rs 9,000 crore for anode and Rs 6,000 crore for cathode manufacturing. This supports India's clean energy transition and strengthens its position as a battery technology hub.
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Adani to build its first cement factory from scratch
Livemint
·
10m ago
Medial
Adani Group is in talks with the Odisha government to build a greenfield cement factory in the state. Ambuja Cements, a subsidiary of Adani, is expected to establish a 4 million tonnes per annum unit at a cost of ₹3,000-3,500 crore. The company aims to become India's largest cement maker and has already announced plans to build a clinker grinding unit in Bihar. The Odisha plant will further expand Adani's presence in the eastern region. The group plans to finance the expansion using internal accruals and has enough funds even after recent acquisitions.
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Odisha govt launches ₹100 crore startup fund
Inshorts
·
1y ago
Medial
The Government of Odisha has launched the Odisha Startup Growth Fund, worth Rs 100 Crore, in collaboration with Small Industries Development Bank of India (SIDBI). The fund aims to support startups in Odisha by investing through Alternative Investment Funds (AIF) over a period of five years. SIDBI will manage the fund and shape its investment strategy. The fund is intended to provide co-investment assistance and prioritize equity or quasi-equity investments. The initiative aims to boost the MSME sector and contribute to India's GDP and employment generation.
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