Tag: Indias First

KARNATKA: BUSINESS & FINANCE: INDIA’S FIRST: IIM Bangalore announces India’s first ‘Global Centre of Excellence on Private Equity (PE) and Venture Capital (VC)

As the private equity (PE) and venture capital (VC) landscape in India continues to grow, IIM Bangalore on Saturday announced to set up country’s first global centre on PE-VC.

Professor U Dinesh Kumar, Dean, Faculty at IIM Bangalore signed an MoU with Mathew Cyriac, Executive Chairman, Florintree Advisors Pvt Ltd, to set up the Tony James Centre for Private Equity and Venture Capital.

Named after the legendary investment banker Tony James, the Centre aims to be a global thought leader for research in matters relating to the PE and VC landscape.

Cyriac is contributing Rs 17.5 crore towards the centre. “This is the single largest-ever contribution from an alumnus and we are grateful to Mathew not just for his generous support but for his extreme thoughtfulness in contributing to the naming of four classrooms on campus after faculty who taught his batch,” said Professor Rishikesha T Krishnan, Director, IIM Bangalore.

Cyriac said he expects the Centre “to emerge as a globally reputed ‘go-to’ place for all players interested in private equity as well as venture capital.”

The Centre will serve as a hub for cutting-edge research, education and industry collaboration in the field of PE-VC, where students will connect with industry leaders, gain hands-on insights, and explore the latest trends in the sector.

James has watched the Indian PE landscape flourish. He said that private equity is a strong contributor to the vibrant Indian economy.

The opening of the Centre comes at a time when foreign investment in the country is booming across sectors, riding on the country’s robust domestic macros.

VC investment in the country surged to $4 billion in the April-June period (Q2 2024), from $2.9 billion in the previous quarter. VC investment is expected to continue to pick up in India, driven in part by the country’s stable government and positive economic environment, according to a latest KPMG report.

India Inc saw impressive 195 deals worth $8.4 billion in July, a 16 per cent jump in volumes. PE deal activity continued to lead the volumes for the month, contributing to 57 per cent of the overall volumes, according to ‘Grant Thornton Bharat Dealtracker’.

source/content: daijiworld.com (headline edited)

NATIONAL: KARNATAKA – INDIA’s FIRST: Mangalore Refinery & Petrochemicals Ltd ( MRPL), becomes India’s First AS 9100: D Certified Refinery

Mangalore Refinery and Petrochemicals Ltd (MRPL) has been certified with AS9100:D standard prepared by International Aerospace Quality Group (IAQG) to assure customer satisfaction in aviation, space and defence organisations, under the scope of “production, storage, testing and distribution of aviation turbine fuel”.

MRPL is India’s first refinery to get this new aerospace standard. The aerospace industry demands the utmost precision, reliability, and safety in its supply chain. As a certified organization, MRPL is now well-positioned to serve as a trusted partner to aerospace companies within India and globally.

The standard ensures the interaction and configuration of various processes, from sourcing raw materials to the final product certification.

The certification process involves a stage audit of the entire life cycle of ATF, involving production criticalities like the addition of qualified additives and catalysts, standardisation of production processes, transfer through a dedicated pipeline network, ensuring fuel devoid of foreign object detection (FOD) in storage tanks, followed by certification and distribution to customers.

MRPL’s newly acquired certification is expected to give it leverage to expand its presence in the aerospace sector.

source/content: daijiworld.com (headline edited)