Latest news with #Offers
Globe and Mail
a day ago
- Business
- Globe and Mail
Rogers Announces Pricing of Cash Tender Offers for Canadian Dollar Debt Securities
TORONTO, July 21, 2025 (GLOBE NEWSWIRE) -- Rogers Communications Inc. (' Rogers ' or the ' Company ') (TSX: RCI.A and RCI.B; NYSE: RCI) announced the pricing terms of its previously announced separate offers (the ' Offers ') to purchase for cash up to the Maximum Purchase Amount (as defined in the Offer to Purchase dated July 11, 2025 (the ' Offer to Purchase '), as previously amended) of its outstanding notes of the series listed in the table below (collectively, the ' Notes '). The Offers The Offers were made upon the terms and subject to the conditions set forth in the Offer to Purchase. Capitalized terms used but not defined in this news release have the meanings given to them in the Offer to Purchase. The table below provides certain information about the Offers, including the aggregate principal amount of each series of Notes accepted by the Company for purchase pursuant to the Offers for such Notes and the Reference Yield and the Total Consideration (per $1,000 aggregate principal amount of Notes so accepted) in respect of each such series of Notes. Title of Notes (1) Principal Amount Outstanding (in millions) CUSIP / ISIN Nos. (1) Reference Security Bloomberg Reference Page Reference Yield (2) Fixed Spread (Basis Points) (2) Total Consideration for Accepted Notes (3) Principal Amount Accepted (in millions) 4.25% Senior Notes due 2049 C$300 775109CR0 / CA775109CR06 2.75% due 12/1/2055 FIT CAN0-50 3.824% +135 C$872.77 C$274.4 2.90% Senior Notes due 2030 C$500 775109CS8 / CA775109CS88 1.25% due 6/1/2030 FIT CAN0-50 3.096% +70 C$956.74 C$289.7 3.30% Senior Notes due 2029 C$500 775109CQ2 / CA775109CQ23 3.50% due 9/1/2029 FIT CAN0-50 3.011% +75 C$981.51 C$340.5 3.25% Senior Notes due 2029 C$1,000 775109BJ9 / CA775109BJ98 4.00% due 3/1/2029 FIT CAN0-50 2.957% +70 C$985.74 C$300.0 4.25% Senior Notes due 2032 C$1,000 775109BV2 / CA775109BV27 1.50% due 12/1/2031 FIT CAN0-50 - +110 nil nil 3.65% Senior Notes due 2027 C$1,500 775109BK6 / CA775109BK61 3.00% due 2/1/2027 FIT CAN0-50 - +73.5 nil nil (1) No representation is made by the Company as to the correctness or accuracy of the CUSIP number or ISIN listed in this news release or printed on the Notes. They are provided solely for convenience. (2) Reference Yield refers to the yield based on the bid-side price of the applicable Reference Security as specified in the table above, as quoted on the applicable Bloomberg Reference Page as of 11:00 a.m. (Eastern time) on July 21, 2025. The sum of the Reference Yield and the Fixed Spread is referred to as the ' Offer Yield '. (3) Per C$1,000 principal amount of Notes validly tendered, and not validly withdrawn, at or prior to 5:00 p.m. (Eastern time) on July 18, 2025 that are accepted for purchase by the Company pursuant to the Offers; excludes the Accrued Coupon Payment (as defined below). Settlement The applicable Total Consideration for each C$1,000 principal amount of Notes accepted by the Company for purchase in the Offers will be paid in cash by or on behalf of the Company to the Tender Agent (or, at the Tender Agent's direction, with CDS Clearing and Depository Services Inc.) on the 'Settlement Date', which is expected to occur on July 23, 2025 (the ' Settlement Date '). In addition to the applicable Total Consideration, Holders whose Notes are accepted by the Company for purchase pursuant to an Offer will receive a cash payment equal to the accrued and unpaid interest on such accepted Notes from and including the immediately preceding interest payment date for such Notes to, but excluding, the Settlement Date (the ' Accrued Coupon Payment '). Holders whose Notes are accepted for purchase will lose all rights as a Holder of the tendered Notes and interest will cease to accrue on the Settlement Date for all Notes accepted in the Offer. On the Settlement Date, the Company will pay any applicable cash amounts by depositing such payment with the Tender Agent or, at the Tender Agent's direction, with CDS Clearing and Depository Services Inc., for transmission to the Holders of such Notes. Following consummation of the Offer, any Notes that are purchased in the Offer will be retired and cancelled and no longer remain outstanding. All Notes not accepted for purchase by the Company will be returned without cost to the tendering Holders. The Company has retained Merrill Lynch Canada Inc. (' BofA '), RBC Dominion Securities Inc. (' RBC '), Scotia Capital Inc. (' Scotia ') and TD Securities Inc. (' TD ') to act as joint lead dealer managers (the ' Dealer Managers ') for the Offers. Questions regarding the Offers should be directed to BofA at (888) 292-0070 (toll-free) or (980) 387-3907 (collect), RBC at (877) 381-2099 (toll-free) or (416) 842-6311 (local), Scotia at 1-416-863-7438 (collect) or TD at 1-866-584-2096 (toll-free) or 1-416-982-6451 (collect). You may also contact your broker, dealer, commercial bank, trust company or other nominee for assistance concerning the Offers. TSX Trust Company is acting as Tender Agent for the Offers. TMX Investor Solutions Inc. is acting as the Information Agent for the Offers. Offer and Distribution Restrictions This news release is for informational purposes only. This news release is not an offer to purchase or a solicitation of an offer to sell any Notes or any other securities of the Company or any of its subsidiaries. The Offers were made solely pursuant to the Offer to Purchase. This news release does not constitute an offer or an invitation by, or on behalf of, us or the Dealer Managers (i) to participate in the Offers in the United States; (ii) to, or for the account or benefit of, any 'U.S. person' (as such term is defined in Regulation S of the U.S. Securities Act of 1933, as amended); or (iii) to participate in the Offers in any jurisdiction in which it is unlawful to make such an offer or solicitation in such jurisdiction, and such persons are not eligible to participate in or tender any securities pursuant to the Offers. The distribution of this news release may be restricted by law in certain jurisdictions. Persons into whose possession this news release comes are required by us and the Dealer Managers to inform themselves about and to observe any such restrictions. This news release, the Offer to Purchase and any other offering material or advertisements in connection with the Offers may not be used for or in connection with an offer or solicitation by or to (i) any person in the United States; (ii) any U.S. person; (iii) any person in any jurisdiction in which such offer or solicitation is not authorized; or (iv) any person to whom it is unlawful to make such offer or solicitation. Accordingly, neither this news release, the Offer to Purchase nor any other offering material or advertisements in connection with the Offers may be distributed or published, in or into the United States or any such other jurisdiction (except in compliance with any applicable rules or regulations of such other jurisdiction). Tenders will not be accepted from any Holder located or resident in the United States or from, or for the account or benefit of, U.S. persons. Those jurisdictions where the securities or other laws require the Offers to be made by a licensed broker or dealer, the Offers shall be deemed to be made on our behalf by the Dealer Managers or one or more registered brokers or dealers licensed under the laws of such jurisdictions. Forward-looking Information This news release includes 'forward-looking information' within the meaning of applicable Canadian securities laws (referred to herein as 'forward-looking information' or 'forward-looking statements'), about, among other things, the expected Settlement Date. This forward-looking information is based on a number of expectations and assumptions as of the date of this news release. Actual events and results may differ materially from what is expressed or implied by forward‐looking information if the underlying expectations and assumptions prove incorrect or our objectives, strategies or intentions change or as a result of risks, uncertainties and other factors, many of which are beyond our control, including, but not limited to, the risks described under the headings 'About Forward Looking Information' and 'Risks and Uncertainties Affecting our Business' in our management's discussion and analysis for the year ended December 31, 2024. We are under no obligation to update or alter any statements containing forward-looking information, whether as a result of new information, future events or otherwise, except as required by law. Forward-looking information is provided herein for the purpose of giving information about the proposed Offers. Readers are cautioned that such information may not be appropriate for other purposes. Rogers is Canada's leading communications and entertainment company and its shares are publicly traded on the Toronto Stock Exchange (TSX: RCI.A and RCI.B) and on the New York Stock Exchange (NYSE: RCI). For more information, please visit or
Associated Press
a day ago
- Business
- Associated Press
Rogers Announces Pricing of Cash Tender Offers for Canadian Dollar Debt Securities
TORONTO, July 21, 2025 (GLOBE NEWSWIRE) -- Rogers Communications Inc. ('Rogers' or the 'Company') (TSX: RCI.A and RCI.B; NYSE: RCI) announced the pricing terms of its previously announced separate offers (the 'Offers') to purchase for cash up to the Maximum Purchase Amount (as defined in the Offer to Purchase dated July 11, 2025 (the 'Offer to Purchase'), as previously amended) of its outstanding notes of the series listed in the table below (collectively, the 'Notes'). The Offers The Offers were made upon the terms and subject to the conditions set forth in the Offer to Purchase. Capitalized terms used but not defined in this news release have the meanings given to them in the Offer to Purchase. The table below provides certain information about the Offers, including the aggregate principal amount of each series of Notes accepted by the Company for purchase pursuant to the Offers for such Notes and the Reference Yield and the Total Consideration (per $1,000 aggregate principal amount of Notes so accepted) in respect of each such series of Notes. Settlement The applicable Total Consideration for each C$1,000 principal amount of Notes accepted by the Company for purchase in the Offers will be paid in cash by or on behalf of the Company to the Tender Agent (or, at the Tender Agent's direction, with CDS Clearing and Depository Services Inc.) on the 'Settlement Date', which is expected to occur on July 23, 2025 (the 'Settlement Date'). In addition to the applicable Total Consideration, Holders whose Notes are accepted by the Company for purchase pursuant to an Offer will receive a cash payment equal to the accrued and unpaid interest on such accepted Notes from and including the immediately preceding interest payment date for such Notes to, but excluding, the Settlement Date (the 'Accrued Coupon Payment'). Holders whose Notes are accepted for purchase will lose all rights as a Holder of the tendered Notes and interest will cease to accrue on the Settlement Date for all Notes accepted in the Offer. On the Settlement Date, the Company will pay any applicable cash amounts by depositing such payment with the Tender Agent or, at the Tender Agent's direction, with CDS Clearing and Depository Services Inc., for transmission to the Holders of such Notes. Following consummation of the Offer, any Notes that are purchased in the Offer will be retired and cancelled and no longer remain outstanding. All Notes not accepted for purchase by the Company will be returned without cost to the tendering Holders. The Company has retained Merrill Lynch Canada Inc. ('BofA'), RBC Dominion Securities Inc. ('RBC'), Scotia Capital Inc. ('Scotia') and TD Securities Inc. ('TD') to act as joint lead dealer managers (the 'Dealer Managers') for the Offers. Questions regarding the Offers should be directed to BofA at (888) 292-0070 (toll-free) or (980) 387-3907 (collect), RBC at (877) 381-2099 (toll-free) or (416) 842-6311 (local), Scotia at 1-416-863-7438 (collect) or TD at 1-866-584-2096 (toll-free) or 1-416-982-6451 (collect). You may also contact your broker, dealer, commercial bank, trust company or other nominee for assistance concerning the Offers. TSX Trust Company is acting as Tender Agent for the Offers. TMX Investor Solutions Inc. is acting as the Information Agent for the Offers. Offer and Distribution Restrictions This news release is for informational purposes only. This news release is not an offer to purchase or a solicitation of an offer to sell any Notes or any other securities of the Company or any of its subsidiaries. The Offers were made solely pursuant to the Offer to Purchase. This news release does not constitute an offer or an invitation by, or on behalf of, us or the Dealer Managers (i) to participate in the Offers in the United States; (ii) to, or for the account or benefit of, any 'U.S. person' (as such term is defined in Regulation S of the U.S. Securities Act of 1933, as amended); or (iii) to participate in the Offers in any jurisdiction in which it is unlawful to make such an offer or solicitation in such jurisdiction, and such persons are not eligible to participate in or tender any securities pursuant to the Offers. The distribution of this news release may be restricted by law in certain jurisdictions. Persons into whose possession this news release comes are required by us and the Dealer Managers to inform themselves about and to observe any such restrictions. This news release, the Offer to Purchase and any other offering material or advertisements in connection with the Offers may not be used for or in connection with an offer or solicitation by or to (i) any person in the United States; (ii) any U.S. person; (iii) any person in any jurisdiction in which such offer or solicitation is not authorized; or (iv) any person to whom it is unlawful to make such offer or solicitation. Accordingly, neither this news release, the Offer to Purchase nor any other offering material or advertisements in connection with the Offers may be distributed or published, in or into the United States or any such other jurisdiction (except in compliance with any applicable rules or regulations of such other jurisdiction). Tenders will not be accepted from any Holder located or resident in the United States or from, or for the account or benefit of, U.S. persons. Those jurisdictions where the securities or other laws require the Offers to be made by a licensed broker or dealer, the Offers shall be deemed to be made on our behalf by the Dealer Managers or one or more registered brokers or dealers licensed under the laws of such jurisdictions. Forward-looking Information This news release includes 'forward-looking information' within the meaning of applicable Canadian securities laws (referred to herein as 'forward-looking information' or 'forward-looking statements'), about, among other things, the expected Settlement Date. This forward-looking information is based on a number of expectations and assumptions as of the date of this news release. Actual events and results may differ materially from what is expressed or implied by forward‐looking information if the underlying expectations and assumptions prove incorrect or our objectives, strategies or intentions change or as a result of risks, uncertainties and other factors, many of which are beyond our control, including, but not limited to, the risks described under the headings 'About Forward Looking Information' and 'Risks and Uncertainties Affecting our Business' in our management's discussion and analysis for the year ended December 31, 2024. We are under no obligation to update or alter any statements containing forward-looking information, whether as a result of new information, future events or otherwise, except as required by law. Forward-looking information is provided herein for the purpose of giving information about the proposed Offers. Readers are cautioned that such information may not be appropriate for other purposes. About Rogers Communications Inc. Rogers is Canada's leading communications and entertainment company and its shares are publicly traded on the Toronto Stock Exchange (TSX: RCI.A and RCI.B) and on the New York Stock Exchange (NYSE: RCI). For more information, please visit or For more information: Investor Relations [email protected] 1-844-801-4792
Associated Press
03-06-2025
- Business
- Associated Press
Teva Announces Early Tender Results of its Debt Tender Offer, Increase to Tender Pool Caps and Total Maximum Amount and Election of Early Settlement
TEL AVIV, Israel, June 03, 2025 (GLOBE NEWSWIRE) -- Teva Pharmaceutical Industries Ltd. (NYSE and TASE: TEVA) ('Teva') announced today the early tender results in connection with its previously announced tender offers (the 'Offers') as specified below for the following series of notes issued by finance subsidiaries of Teva and guaranteed by Teva: As previously announced, Teva increased the Pool 2 Tender Cap and the Pool 3 Tender Cap (each, as defined below) from $250.0 million (equivalent) to $350.0 million (equivalent) and from $200.0 million (equivalent) to $350.0 million (equivalent), respectively, in each case representing aggregate cash purchase price (exclusive of accrued and unpaid interest). In addition, Teva has exercised its discretion to further increase the pool tender cap for the Pool 3 Notes from $350.0 million (equivalent) to $400.0 million (equivalent) total purchase price (exclusive of accrued but unpaid interest) (the 'Pool 3 Tender Cap'). The pool tender caps for the Pool 1 Notes (the 'Pool 1 Tender Cap') and the Pool 2 Notes (the 'Pool 2 Tender Cap' and, together with the Pool 1 Tender Cap and the Pool 3 Tender Cap, the 'Pool Tender Caps') will remain unchanged. The combined aggregate purchase price (exclusive of accrued and unpaid interest) for Notes (the 'Total Maximum Amount') is increased from $2,250,000,000 (equivalent) to $2,300,000,000 (equivalent). Except as provided above, the terms and conditions of the Offers remain unchanged. Teva is engaging in the Offers to proactively manage and optimize its debt capital structure, and to extend the maturity profile of its debt. Teva expects to fund the Offers with the proceeds from the registered public offering of Teva Pharmaceutical Finance Netherlands II B.V., Teva Pharmaceutical Finance Netherlands III B.V. and Teva Pharmaceutical Finance Netherlands IV B.V. of debt securities that commenced concurrently with the Offers and closed on May 28, 2025, with gross proceeds, together with cash on hand, sufficient to fund the Total Consideration for Notes to be purchased pursuant to the Offers. The respective principal amounts of all series of Notes that were validly tendered and not validly withdrawn at or prior to 5:00 p.m., Eastern Time, on Monday, June 2, 2025 (the 'Early Tender Time') are specified in the table below. Holders who validly tendered and did not validly withdraw Notes at or prior to the Early Tender Time and whose Notes are accepted for purchase pursuant to the Offers will receive the applicable 'Total Consideration,' (as defined in the Offer to Purchase), which already includes an early tender premium of $50.00 per $1,000 or €50.00 per €1,000, as applicable, principal amount of the Notes accepted for purchase pursuant to the Offers (the 'Early Tender Premium'). The following table sets forth the early results of the Offers: (1) The Pool 1 Tender Cap represents the maximum aggregate purchase price in respect of Pool 1 Notes that will be purchased in the Pool 1 Tender Offers. The Pool 2 Tender Cap represents the maximum aggregate purchase price in respect of Pool 2 Notes that will be purchased in the Pool 2 Tender Offers. The Pool 3 Tender Cap represents the maximum aggregate purchase price in respect of Pool 3 Notes that will be purchased in the Pool 3 Tender Offers. The Pool Tender Caps can be increased or decreased at Teva's sole discretion. (2) In order to determine whether the Total Maximum Amount (as defined below) and Pool Tender Caps have been reached, an exchange rate of $1.1443 = €1.00 will be used, as determined at 10:30 a.m. Eastern Time on the date of the Early Tender Time. (3) Subject to the Total Maximum Amount, the Pool Tender Caps and proration, the principal amount of each series of Notes that is purchased in each of the Offers will be determined in accordance with the applicable acceptance priority level (in numerical priority order) specified in this column. Subject to the terms and conditions of the Offers, Teva expects that it will accept for purchase Notes validly tendered and not validly withdrawn at or prior to the Early Tender Time for a combined aggregate purchase price (exclusive of accrued and unpaid interest but inclusive of tender premium) equal to approximately $2,300,000,000. The settlement for the Notes accepted by Teva in connection with the Early Tender Time is expected to take place on Thursday, June 5, 2025 (the 'Initial Settlement Date'). The amount of each series of Notes that is to be purchased on the Initial Settlement Date will be determined in accordance with the acceptance priority levels and the proration procedures described in the Offer to Purchase, dated May 19, 2025 (the 'Offer to Purchase'), subject in each case to the Total Maximum Amount and the Pool Tender Caps. The Withdrawal Deadline has passed and has not been extended. Notes tendered pursuant to the Offers may no longer be withdrawn, except as required by law. The Offers will expire at 5:00 p.m., Eastern Time, on Tuesday, June 17, 2025, unless extended or earlier terminated (as it may be extended or earlier terminated, the 'Expiration Time'). However, as Teva intends, subject to the terms and conditions of the Offers, to accept for purchase the Total Maximum Amount on the Initial Settlement Date, further tenders of Notes prior to the Expiration Time will not be accepted for purchase. Teva's obligation to accept for purchase and to pay for the Notes validly tendered (and not validly withdrawn) pursuant to the Offers is subject to the satisfaction or waiver of certain conditions set out in the Offer to Purchase. Teva reserves the right, subject to applicable law and the terms of the Offers, to waive any and all conditions to the Offers or to otherwise amend, extend or terminate the Offers in any respect. BNP PARIBAS, HSBC Bank plc, Intesa Sanpaolo S.p.A., J.P. Morgan Securities plc and Merrill Lynch International (or their respective affiliates) are acting as the Dealer Managers for the Offers. The information and tender agent (the 'Information and Tender Agent') for the Offers is D.F. King. Copies of the Offer to Purchase are available by contacting the Information and Tender Agent at (800) 967-5068 (toll-free), (212) 269-5550 (collect) or +44 20-7920-9700 (UK) or by email at [email protected]. All documentation relating to the offer, together with any updates, will be available via the Offer Website: Questions regarding the Offers should be directed to BNP PARIBAS, at +33 1 55 77 78 94 (Europe), +1 (888) 210 4358 (U.S. Toll Free), +1 (212) 841 3059 (U.S.) or by email at [email protected], to HSBC Bank plc, at +44 20 7992 6237 (Europe), +1 (888) HSBC-4LM (U.S. Toll Free), +1 (212) 525-5552 (Collect) or by email at [email protected], to Intesa Sanpaolo S.p.A., at +39 02 7261 6502 or by email at [email protected], to J.P. Morgan Securities LLC at +1 (866) 834-4666 (U.S. toll free), +1 (212) 834-4818 (Collect), to J.P. Morgan Securities plc at +44 207 134 2468 (Europe) or by email at [email protected], and to Merrill Lynch International at +44 207 996 5420 (Europe), +1 (888) 292-0070 (U.S. Toll Free) or by email at [email protected]. This announcement shall not constitute an offer to sell, a solicitation to buy or an offer to purchase or sell any Notes. The Offers are being made only pursuant to the Offer to Purchase and only in such jurisdictions as is permitted under applicable law. Capitalized terms used in this announcement but not otherwise defined shall have the meanings given to them in the Offer to Purchase. About Teva Teva Pharmaceutical Industries Ltd. (NYSE and TASE: TEVA) is a different kind of global biopharmaceutical leader, one that operates across the full spectrum of innovation to reliably deliver medicines to patients worldwide. For over 120 years, Teva's commitment to bettering health has never wavered. Today, the company's global network of capabilities enables its 37,000 employees across 57 markets to advance health by developing medicines for the future while championing the production of generics and biologics. We are dedicated to addressing patients' needs, now and in the future. Moving forward together with science that treats, inspired by the people we serve. Cautionary Note Regarding Forward-Looking Statements This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, which are based on management's current beliefs and expectations and are subject to substantial risks and uncertainties, both known and unknown, that could cause our future results, performance or achievements to differ significantly from that expressed or implied by such forward-looking statements. Important factors that could cause or contribute to such differences include risks relating to: settlement of the tender offers for certain outstanding notes; our significant indebtedness, which may limit our ability to incur additional indebtedness, engage in additional transactions or make new investments, and may result in a further downgrade of our credit ratings; our inability to raise debt or borrow funds in amounts or on terms that are favorable to us; and other factors discussed in our Quarterly Report on Form 10-Q for the first quarter of 2025, our Annual Report on Form 10-K for the year ended December 31, 2024, including the sections thereof captioned 'Risk Factors' and 'Forward Looking Statements,' and other filings with the SEC, which are available at Forward-looking statements speak only as of the date on which they are made, and we assume no obligation to update or revise any forward-looking statements or other information contained herein, whether as a result of new information, future events or otherwise. You are cautioned not to put undue reliance on these forward-looking statements. No assurance can be given that the transactions described herein will be consummated or as to the ultimate terms of any such transactions. Teva Media Inquiries: [email protected] Teva Investor Relations Inquiries: [email protected]
The Hindu
15-05-2025
- Automotive
- The Hindu
IIT Tirupati celebrates 10 years with landmark tie-ups
Marking a decade of its existence, the Indian Institute of Technology Tirupati (IIT-T) has announced a series of strategic tie-ups with state, national, and international agencies aimed at benefitting the student community. A standout collaboration is IIT-T's tie-up with the Government of Andhra Pradesh as the official knowledge partner for the Tirupati Spoke of Ratan Tata Innovation Hub (RTIH). This partnership is part of the government's visionary Hub-and-Spoke model for entrepreneurship and innovation. The Tirupati Spoke will serve as a regional catalyst for startup growth and MSME support, working alongside industrial partners such as Adani Group, Amara Raja Group, and Navayuga Engineering Company Ltd. As a knowledge partner, IIT-Tirupati will provide critical support through mentorship, research collaboration, and development of tailored solutions to regional and national challenges—aligning closely with the Viksit Bharat Mission. Another significant partnership is a five-year partnership with carmaker Kia India, supported with an investment commitment of ₹35 crores (2025–2029). This collaboration aims to promote engineering excellence, research-driven innovation, and nurture industry-ready talent in the domains of advanced manufacturing, electric mobility, and sustainable automotive technologies. Kia India will also initiate an internship program with Pre-Placement Offers (PPOs), ensuring smooth industry integration for students. Additionally, merit-based and need-based scholarships will be extended to deserving students, expanding access to advanced education. Addressing a media conference at the campus on Thursday, IIT-T Director Prof. K.N. Satyanarayana said, 'The partnership with Kia goes beyond an MoU—it's a convergence of vision and commitment toward shaping the future of mobility and engineering in India. Together, we aim to create transformative opportunities.' Campus infrastructure On the infrastructure front, under Phase-A civil works worth ₹867.49 crore, furniture and equipment procurement worth ₹224.26 crore, and ₹352.31 crore allocated for recurring expenditure totalling to ₹1,444 crore. The Central government has now approved works under Phase-B amounting to ₹2,313 crore, a major boost to campus infrastructure.
Hans India
11-05-2025
- Automotive
- Hans India
Kia India-IIT Tirupati sign MoU to drive innovation
Tirupati: Kia India, a leading mass-premium carmaker, has inked a strategic Memorandum of Understanding (MoU) with Indian Institute of Technology, Tirupati (IIT-Tirupati), aimed at boosting engineering excellence and fostering innovation in automotive and industrial sectors. Under the five-year partnership (2025–2029), Kia India will invest Rs 35 crores to enhance academic infrastructure, promote collaborative research, and support student development programmes. The collaboration aspires to transform IIT-Tirupati into a centre of excellence in advanced manufacturing, electric mobility, and sustainable automotive technologies. The MoU introduces a robust framework for industry-academia synergy, including internships with Pre-Placement Offers (PPOs) for students, along with scholarships for MTech students based on merit and financial need. A major feature of the agreement is the creation of a 'Makers Laboratory' – a modern innovation hub for interdisciplinary collaboration, enabling students to design and build real-world prototypes. 'By joining forces with IIT-Tirupati, we aim to nurture highly skilled engineers and technologists, equipped to lead advancements in sustainable mobility and industrial manufacturing,' said Gwanggu Lee, Managing Director and CEO of Kia India. IIT-Tirupati Director Prof K N Satyanarayana welcomed the initiative, saying it would provide students with valuable exposure to global industry standards and advanced infrastructure. The MoU signing ceremony was attended by senior leadership from both Kia India and IIT-Tirupati, marking a significant step toward strengthening India's technological and educational landscape in automotive innovation.
