
In digi push, Altimetrik buys SLK Software
Financial details were not disclosed. Founded in 2000, SLK Software is a tech services provider focused on bringing AI, intelligent automation, and analytics together to create solutions for customers. TNN
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Time of India
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Bihar OKs Rs 882cr Janki temple project
Bihar's Nitish Kumar-led NDA cabinet approved Tuesday Rs 882.87 crore to develop Maa Janaki Mandir at Punauradham (Sitamarhi), considered Goddess Sita's birthplace, as a major tourist site on the lines of Ayodhya's Ram Temple complex. Tired of too many ads? go ad free now Under the plan, which is being given final shape ahead of assembly polls later this year, Maa Janaki Mandir will be reconstructed and tourist facilities developed in its vicinity to attract visitors. Nitish took to X soon after the cabinet meeting to post details. "The foundation for the project will be laid in Aug. We are committed to completing a grand temple at Punauradham at the earliest," the chief minister wrote. The site, 5km from Sitamarhi town in north Bihar, is part of Ramayan Tourist Circuit that links Nepal's Janakpur with Ram Janmabhoomi (temple) site in Ayodhya. The Nitish cabinet had recently approved Noida-based private firm M/S Design Associates, the design consultant for Ram Temple, in a similar role for the Sita shrine project. "Comprehensive development will be carried out on the lines of Shri Ram Janmabhoomi Tirth Kshetra, Ayodhya. The construction of the temple at Punauradham is a matter of pride for the people of the country, especially for the people of Bihar," the chief minister added.


Time of India
16 minutes ago
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Academy Empower your mind, elevate your skills Initial public offering (IPO)-bound merchant payments company Pine Labs is set to appoint Sameer Kamath as its new chief financial officer, according to two people in the is currently the group chief financial officer (CFO) at the Mumbai-based investment bank Avendus Capital . He is set to join the digital payments company soon, ET has has spent over two decades in the financial services industry. Prior to Avendus, Kamath was the group CFO at Mumbai-based broking firm Motilal queries to Pine Labs went appointment comes after the exit of Marc Mathenz, its Singapore-based CFO, who resigned in June, just before the company filed its draft prospectus with the stock market regulator, Securities and Exchange Board of India (Sebi).'Pine Labs needed an Indian CFO since the company reverse-flipped its parent entity from Singapore to India,' said one of the persons in the appointment comes with Shalini Saxena set to return to the Gurugram-based firm as its general counsel. Bar and Bench was the first to report this was the general counsel, or the top legal official, at Pine Labs between 2019 and 2022, after which she had moved to crypto exchange startup CoinDCX as its legal head. Now she is set to join Pine Labs Kush Mehra, chief business officer; Sumit Chopra, chief operating officer; and Navin Chandani, chief business officer of the issuing business, are a few of the key personnel at Pine Labs, which counts erstwhile PayU top executive Amrish Rau as its current chief executive company filed its DRHP on June 27, seeking to raise Rs 2,600 crore through a fresh issue of shares and an offer-for-sale (OFS) of up to 147.8 million shares. The company is looking for a valuation of $4.5 to $5 billion through the public issue. It counts the likes of Peak XV Partners, Mastercard, PayPal, and Actis among its major shareholders.


Time of India
16 minutes ago
- Time of India
Govt eyes August-September start to electronic parts PLI approvals
ETtech The government is expected to hand out the first set of approvals under the Rs 22,919-crore production-linked incentive (PLI) scheme for electronic components manufacturing 'in the next two-three months,' by August-September, a senior official told scheme has received an overwhelming response, attracting nearly 100 applications for manufacturing various components, from display modules to camera units to battery packs, from both established players and new entrants.A project management agency is likely to be appointed within a month to screen the applications, the official said, adding that approvals will follow soon government is working on a fast-track mode to get the approvals rolling, the person Union cabinet had on March 28 approved the PLI scheme targeted on passive or non-semiconductor electronics components.'The response from industry has been good and very buoyant… I can see that many players would be keen to participate in this scheme which will be crucial to build the larger ecosystem,' said Atul Lall, managing director of electronics manufacturing service company Dixon Technologies 'For Dixon, it is a strategic foray and we will be applying. The timeline for applying is the end of July so the project reports and documentation is under preparation,' he told had reported on April 29 that several companies including Dixon, Tata Electronics , Zetwerk and Foxconn are planning to invest through this PLI scheme 'As India looks to increase the domestic value addition, the component PLI is important,' Josh Foulger, president of Zetwerk Electronics , told ET. 'All the non-semiconductor items which are being considered are essential in the electronics system design and manufacturing (ESDM) space.'He said the component ecosystem takes time to come into fruition as it involves several aspects like raw materials, specialised processes, of which have to come into play in a streamlined manner. The qualifications of the customers, too, is a long process.'The tenure of all this coming into fruition will be 18-24 months, but it (the scheme) is on the right track and we see a lot of capable people applying, including us, and, more importantly, ecosystem partners coming here to develop the ecosystem and technology,' Foulger through its subsidiary Yuzhan Technology, is also looking to apply under the smartphone display module category, sources had said at the June 23, Bengaluru-based unicorn Zetwerk told ET it plans to pump in Rs 500-800 crore on manufacturing printed circuit boards (PCBs), enclosures and electromechanical components such as heatsink and the application for the PLI scheme is being prepared, Zetwerk is in talks with companies in Taiwan, South Korea and China for technology partnerships and is eyeing setting up manufacturing plants over the next one Shah, vice-president of research at Counterpoint Research, said the PLI is going to have maximum impact on components which can be assembled or manufactured in India like batteries, camera modules, display modules and others which contribute to a considerable amount of the cost of the devices.'Display and camera module assembly are the low hanging opportunities for India which could see the most traction,' he said. 'Having capabilities in building a manufacturing ecosystem for camera, display, battery, passive components such as resistors, capacitors, inductors would be a good first step alongside matured nodes semiconductor fabs for wafer as well as packaging.'This is the first such scheme to focus on promoting the manufacturing of passive electronic components and would help deepen value addition happening in the country. It is also meant to complement the existing PLI on mobile manufacturing and the India Semiconductor Mission under which six large players including the Tata Group are setting up chip assembly and chip fabrication scheme envisages to attract investment of Rs 59,350 crore, result in production of Rs 4.56 lakh crore, and generate additional direct employment for 91,600 persons besides many indirect electronics and IT minister Ashwini Vaishnaw had said the segment will serve the requirements of several sectors, including telecom, consumer electronics, automobile, medical devices, power sector, etc.'India has started developing capital goods, machine goods used to make electronic products. Major centres have come up in Pune, Coimbatore, Rajkot, Bangalore. Apple today has 64 suppliers in India,' he had said while announcing the scheme earlier this year.