AM Green and Port of Rotterdam Authority sign MoU to build green energy corridor
Mr. Anil Chalamalasetty said: 'The collaboration marks a significant milestone in establishing a global carbon-free energy ecosystem. It will enable the seamless movement of green molecules and fuels from India to Europe.'
AM Green has also proposed to establish a green ammonia project in Kakinada.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Time of India
5 hours ago
- Time of India
Lenskart IPO: Shareholders approve Rs 2,150 crore initial public offering; DRHP filing likely soon, says report
Lenskart is moving closer to its much-anticipated stock market debut, with shareholders formally approving its initial public offering plans at the company's annual general meeting held on Saturday. The omnichannel eyewear firm plans to raise Rs 2,150 crore ($250 million) as part of the public issue, which could reach up to $1 billion in total size, according to ET citing people familiar with the matter. The company is expected to file its draft red herring prospectus (DRHP) with Sebi in the coming days, joining a growing list of new-age ventures—such as Meesho, Groww, Pine Labs, and PhysicsWallah—that are preparing to tap public markets in 2025. Collectively, over 14 such firms aim to raise more than Rs 20,000 crore this year, ET reported. Filings showed that shareholders, including SoftBank, Kedaara Capital, Abu Dhabi Investment Authority, Fidelity, and Temasek, also approved the adoption of a new employee stock option plan—Esop 2025—comprising 7.2 million shares. As per data from Tracxn, around 19% of Lenskart's shares are currently allocated to its Esop pool. ET had reported on July 10 that the company plans to issue additional shares to founder and CEO Peyush Bansal via a structured payout, potentially increasing his holding by 1.5-2%. Bansal and his sister Neha Bansal, who is also a cofounder, together own 14-15% of the company. Lenskart, which won the ET Startup Awards 2024 in the Startup of the Year category, operates in India and international markets such as the Middle East, Southeast Asia, Australia, Japan, and South Korea. In FY24, the company's operating revenue rose 43% year-on-year to Rs 5,428 crore, while net loss narrowed to Rs 10 crore from Rs 64 crore in the previous fiscal. In an October interview with ET, Peyush Bansal said Lenskart was investing $200 million in a new manufacturing plant in southern India. Currently, the company manufactures frames and lenses at its facility in Rajasthan. Lenskart was valued at $5 billion in its last funding round in June 2024. US-based Fidelity marked up the eyewear brand's valuation by more than 20% to $6.1 billion as of April-end. The company's omnichannel strategy—blending online sales with over 2,500 retail outlets—has been a key growth driver. While online revenues have outpaced offline growth over the last 2–3 years, Lenskart continues to expand its store network aggressively. Filings also revealed that PaySense cofounder Sayali Karanjkar and IndMoney founder Ashish Kashyap have joined the board as independent directors. Peyush Bansal has been appointed as chairman, managing director and CEO, while Neha Bansal and cofounder Amit Chaudhary have been named executive directors. Stay informed with the latest business news, updates on bank holidays and public holidays . AI Masterclass for Students. Upskill Young Ones Today!– Join Now
Economic Times
7 hours ago
- Economic Times
Lenskart secures shareholder nod to raise Rs 2,150 crore via IPO
Shareholders of omnichannel eyewear brand Lenskart have approved its initial public offering (IPO) plans, according to regulatory filings sourced from the Registrar of Companies (RoC).At its annual general meeting on Saturday, Lenskart's shareholders cleared the proposal to raise Rs 2,150 crore ($250 million) through the IPO. The total issue size is likely to be as much as $1 billion, according to people aware of the matter. One of the sources said the company is set to file its draft red herring prospectus (DRHP) with Securities and Exchange Board of India (Sebi) in the coming days. With this, Lenskart will join other large new-age firms like Groww, Meesho, PhysicsWallah, and Pine Labs that are filing IPO documents this year. In total, nearly 14 venture-backed new-age companies are aiming to raise over Rs 20,000 crore from the public markets in 2025. Filings also showed that Lenskart's shareholders, including SoftBank, Kedaara Capital, Abu Dhabi Investment Authority, Fidelity and Temasek, have approved a new employee stock option plan, Esop 2025, comprising 7.2 million shares. Data from Tracxn shows that about 19% of Lenskart's shares are currently earmarked for its Esop pool. ET had reported on July 10 that Lenskart plans to issue additional shares to founder and CEO Peyush Bansal through a structured payout, which may increase his holding by 1.5-2%. Bansal and his sister Neha Bansal, also a cofounder, together own 14-15% of the company. Lenskart, which won The ET Startup Awards 2024 in the Startup of the Year category, operates in India and other markets such as the Middle East, Southeast Asia, Australia, Japan and South Korea. In FY24, Lenskart's operating revenue grew 43% year-on-year to Rs 5,428 crore, while its net loss narrowed to Rs 10 crore from Rs 64 crore in FY23. In an October interview with ET, Peyush Bansal said the company is investing $200 million in a new manufacturing plant in southern India. Currently, Lenskart makes frames and lenses at its facility in Rajasthan. Lenskart's last round of funding in June 2024 valued the company at $5 billion. US-based Fidelity marked up the valuation of the omnichannel eyewear retailer by more than a fifth to $6.1 billion at the end of April. The company's omnichannel strategy, combining its website with more than 2,500 retail outlets, has been a major growth driver. While online sales have outpaced store sales growth in the past two to three years, Lenskart continues to expand its offline footprint also showed that Lenskart has appointed PaySense cofounder Sayali Karanjkar and IndMoney founder Ashish Kashyap as independent directors on its Bansal has been named chairman, managing director and CEO of Lenskart, while Neha Bansal has been appointed executive director. Cofounder Amit Chaudhary has been named an executive director on the board.
Time of India
12 hours ago
- Time of India
Air India pays interim damages to families of 166 crash victims
Advt By , PTI Private carrier Air India on Saturday said it has paid the interim compensation to the families of 166 victims of the Ahmedabad plane crash last payment to the families of another 52 victims is in the process, it added. The plane crash, one of the worst air disasters in India in decades, involved a Boeing 787-8 Dreamliner operating as Air India flight the 242 people onboard, 241 were killed, while the total death toll stood at 260, including casualties on the June 14, Air India announced that it will provide an interim compensation of ₹25 lakh, or approximately £21,500, to the families of each of the deceased and survivors of the Ahmedabad plane crash to help address immediate financial needs."Air India has released the interim compensation to the families of 147 of the 229 deceased passengers and also the 19 who lost their lives at the accident site," the airline said in the addition, the requisite documents of 52 others have been verified, and the interim compensation will be released progressively to the families, it noted.
