
FAPCCI presents 11 awards in across sectors
Speaking at the Federation of Andhra Pradesh Chambers of Commerce and Industry (FAPCCI) Excellence Awards 2025 presentation ceremony held here on Tuesday, the Minister stated that in just one year, the government has secured investment proposals worth over Rs 9 lakh crore, marking a significant shift in investors' confidence. He emphasised that major corporate houses have reposed faith in Andhra Pradesh's leadership and vision.
He also highlighted that tenders worth Rs 60,000 crore have been called for in Amaravati, signaling the government's clear intent to fast-track capital development. 'We are taking decisions at a brisk pace to foster ease and speed of doing business,' he informed.
Visakhapatnam MP M. Sribharat called on industry leaders to partner with the state's economic development by not only pointing out bottlenecks but also suggesting solutions to address them. The MP announced that 15 key roads in Visakhapatnam are being upgraded at a cost of Rs 500 crore, improving the city's infrastructure backbone.
On the much-anticipated Visakhapatnam Metro Project, he informed that the DPR is ready, and a double-decker metro has been proposed for the Rs 15,000 crore-project. Highlighting Andhra Pradesh's push towards digital governance, Sribharat said that over 300 government services are now being offered via WhatsApp, reducing the need for people to interface directly with the officials concerned.
He also stressed the importance of collaboration between academia, industry, and government to collectively address challenges faced in the business ecosystem. FAPCCI president Kankatala Mallikharjuna Rao, former president Karunendra Jasti, CV Atchut Rao, among others, addressed the gathering.
Recognising excellence in business and entrepreneurship, 11 awards were presented to leaders from across different sectors. It was the first-ever excellence awards hosted by the FAPCCI.
Hashtags

Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles


Indian Express
19 minutes ago
- Indian Express
NSDL IPO allotment date next week; know how to check status online via PAN
NSDL IPO: Following the close of the subscription of initial public offering (IPO) of National Securities Depository Limited, all eyes of the investors will now be on the finalisation of the allotment of shares. The NSDL IPO allotment will take place next week. The NSDL IPO was opened on July 30 and concluded on August 1. The Rs 4,011-crore initial share sale got bids for 1,44,03,92,004 shares against 3,51,27,002 shares on offer, translating into 41.01 times subscription, as per NSE data, reports PTI. According to the PTI, NSDL IPO received 41 times subscription on the closing day of bidding. Qualified Institutional Buyers (QIBs) garnered 103.97 times subscription. The category for non-institutional investors received 34.98 times subscription and the portion for Retail Individual Investors (RIIs) got subscribed 7.73 times. NSDL has a price band of Rs 760 to Rs 800 per equity share. The NSDL IPO is likely to be finalised on August 4 (Monday). The allotment status will be released online on the official website of the registrar – MUFG Intime India Private Limited. Additionally, the allotment status will also be made available on the official website of the BSE. NSDL IPO Allotment Status Check on MUFG Intime India Private Limited – NSDL IPO Allotment Status Check on BSE Direct Link – NSDL shares are proposed to be listed on BSE. The listing will likely take place on August 6. This upcoming listing will make NSDL the country's second publicly traded depository after Central Depository Services (CDSL), which was listed on the NSE in 2017. (With inputs from PTI)

Time of India
19 minutes ago
- Time of India
Phone Battery Anxiety? These Power Banks Have You Covered
'Hindu Terror, Not Saffron': Chavan's Remark On Malegaon Verdict Draws 'Lame Horse' Dig From BJP In a political bombshell, Congress leader Prithviraj Chavan reacted to the acquittal of all accused in the 2008 Malegaon blast by reigniting the controversial debate around "Hindu terror" and "saffron terror." 'If not saffron, call it Hindu or Sanatani terror,' Chavan said, before clarifying that terrorism has no religion. But his choice of words has ignited a nationwide storm. Chavan accused the BJP-led government and the NIA of weakening the case, asking bluntly, 'If those acquitted didn't do it, then who planted the bomb?' His remarks have given fresh ammunition to both allies and adversaries. The BJP hit back, mocking Chavan #prithvirajchavan #malegaonblastverdict #2008malegaoncase #saffronterrordebate #niainvestigation #hinduterrorism #bjpcongressfaceoff #politicalcontroversy #maharashtrapolitics #malegaonacquittal #rahulgandhi #bjpvscongress #terrorismprobeindia #sanataniterror #indianjudiciary #malegaonbombingcase #indianpoliticsdebate #hindumuslimpolitics #communalpoliticsindia #bjpcriticism #congressresponse #dineshsharmabjp #malegaoncaseupa #breakingnews #trending #bharat #toi #toibharat #indianews 7.7K views | 1 day ago


Economic Times
19 minutes ago
- Economic Times
Arcil IPO: Avenue, SBI to reduce stake, GIC affiliate to exit
Arcil Ltd, India's first bad loan aggregator, is set for an IPO with existing shareholders like Avenue Capital, SBI, GIC's Lathe Investment, and Federal Bank planning to sell 10.54 crore shares. Avenue Capital will dilute its stake, while Lathe Investment will exit completely. Arcil, the second largest ARC in India, reported a profit of Rs 355.31 crore in March 2025. Tired of too many ads? Remove Ads Tired of too many ads? Remove Ads New York based Avenue Capital Group State Bank of India (SBI), Singapore's GIC owned Lathe Investment and Federal Bank will sell an aggregate of 10.54 crore shares in Arcil Ltd in what will be the first initial public offer (IPO) for a bad loan aggregator in company filed its Draft Red Herring Prospectus (DRHP) with the Securities and Exchange Board of India (SEBI) on Saturday. Avenue which holds 69.73% of equity in the company will sell 6.87 crore shares, diluting its stake to 48.57% while SBI will sell 1.94 crore shares to reduce its holding to 13.96% from 19.95%, GIC affiliate Lathe Investment will completely exit the company by selling all it 5% stake or 1.62 crore shares, the DRHP bank shareholder Federal Bank will sell 10 lakh shares to reduce its stake to 0.95% from 1.27%. The entire issue is an offer for sale by existing shareholders with no fresh shares being Capital, IDBI Capital and JM Financial are the bankers to the in 2002, Asset Reconstruction Company (India) Ltd was the first asset reconstruction company in India, backed by banks like IDBI Bank , SBI and ICICI Bank . Currently Avenue and SBI are identified as promoters of the company, together holding 89.68% of the has been in operations for more than two decades. Over the years banks have exited the ARC mostly selling stake to 2022, Avenue Capital acquired 44.6% in the company from ICICI Bank, IDBI Bank and ICICI Home Finance for a consideration of nearly ₹840 is currently the second largest in terms of assets under management (AUM) aming ARCs in India with Rs 15,230.031 crores. It earns its revenue from management fees/ trusteeship fees, portfolio recovery fees, income from investments and write Bank sold its 19.18%, ICICI Bank 13.26% while ICICI Bank's housing finance sold its 2.26% at Rs 58 a share, a Rs 48 premium to the Rs 10 face value. Punjab National Bank was the latest to sell its 10% stake in March 2023 at Rs 60.53 apiece. It remains to be seen what price the shareholders decide to sell their stake the year ended March 2025, the revenue from operations for Arcil were at Rs 596.42 crore with a profit after tax of Rs 355.31 of March 2025, had acquired Rs 72,657.30 crore in total principal debt at a cost of Rs 38,155.63 crore or 52.51% of the total principal debt and made recoveries of Rs 28,459.70 crore.