ISHRAE Mumbai Chapter to Appoint Mr. Mihir Sanghavi as their New President

Mr. Mihir Sanghavi President, ISHRAE Mumbai Chapter 2019.

Mumbai,  28 March 2019 (HPN) :  ISHRAE announced the appointment of Mr. Mihir Sanghavi as the President of ISHRAE Mumbai Chapter.  Previously working as the President Elect, Mr. Mihir Sanghavi will assume the role of the President by succeeding Ms. Sangita Jhangiani who was the President for ISHRAE Mumbai Chapter. New committee members were also appointed for the year 2019-20 to serve ISHRAE’s Mumbai Chapter. According to the new appointments, Mr. Rajendra Joshi  will take over  as President Elect, Kishore Karle will assume the role of Secretary and Mr. Amod Dikshit will be the new Treasurer.

The announcement ceremony took place at Hotel Sahara Star Mumbai in the presence of the National President Ishrae Mr. Vikram Murthy and previous committee members such as Sanjay Verma, Nasir Khan, Sanjay Jadhav, Sandeep Mehendiratta, Kunal Bhavsar, Vivek Marde, Jayant Patekar, Mukesh Suthar, Sangita Jangiani, Atul Kochrekar, Amey and more.

Mr. Vikram Murthy, National President, ISHRAE Said “It gives us great pleasure to see Mr. Mihir Sanghavi taking on the mantle of the President, ISHRAE Mumbai Chapter. I am sure he will leverage on his immense knowledge and expertise in nurturing the growth of ISHRAE Mumbai Chapter. The pace of change in today’s Energy Efficiency Practices has accelerated and ISHRAE is committed to ensuring that we not only stay at the forefront of this change but will also continue to innovate and fuel the development of the HVAC&R MARKET as we have always done.”

There were around 250+ delegates present at the venue from the Consultant, Contractor, Manufacturer, Trader, OEMs of the HVAC & R community from companies such as Voltas Ltd, Bluestar Ltd, Hitachi, Ingersal Rand etc. It would also be attended by various heads of associations like RATA, ASHRAE, IGBC, IPA, FSAI, IFMA, AWESOME, IAEMP etc.

During the ceremony, Mr. Mihir Sanghavi presented the vision of ISHRAE Mumbai Chapter for 2019-20 where the theme would be ‘FEEL’ (F-Fun, E-Energize, E – Earn, L-Learn) and the future activities would revolve around the same theme. Mr. Sanghavi further stated, that, “I am deeply humbled and honored to assume the role of the President, ISHRAE Mumbai Chapter and would like to thank the members for bestowing this huge responsibility upon me. I would like to continue the good work done by ISHRAE, especially in the areas that further the cause of the HVAC&R industry. With the Government’s key infrastructure initiatives and Smart City programs, we see great potential in areas like Building Automation and Indoor Air Quality, which would contribute towards the rapid growth of the Indian HVAC&R industry.”

ISHRAE Mumbai Chapter is aiming to conduct close to 200 programs a year to provide comprehensive knowledge about, technology, Advocacy events, comprising of Technological talks,  Advocacy events, Seminars both domestic and international, Workshops, Industrial visits both domestic and international, Student programs, K12 activities, etc. With close to around 1400 members, Mumbai has emerged as one of the vibrant chapter of ISHRAE Society.

All the activities are designed to upgrade the members to meet the requirement of India Cooling Plan which expects Indian HVAC&R industry to grow 8 times in next two decades. It would also help in enhancing skill development scheme and Make in India plans. ENDS

HYPERX ANNOUNCES ENTITY GAMING AS ITS FIRST SPONSORED ESPORTS TEAM IN INDIA

Mumbai, India, 26^th March 2019 (HPN) :HyperX, the gaming division Kingston Technology, and brand leader in gaming and esports, today, announced becoming the official sponsor of Entity Gaming in India. This is the brand’s First eSports team sponsorship in India, exclusively with the HyperX Peripherals, SSDs and Memory products. In-line with the numerous high impact platforms that HyperX has helped to develop, this sponsorship complements the brand’s intent to support talent in the Indian gaming community.

Entity Gaming is one of India’s most successful professional eSports team with a dedicated squad for competing in CS:GO. The team has proven their mettle with impressive wins in Indian and International events like ESL India Premiership, DreamHack Mumbai, Intel Extreme Masters XIV, Taiwan Excellence Gaming Cup, Mountain Dew Arena and others.

“HyperX is entering into our line of sponsors monetarily too! It is a first for us and we believe that we are setting a standard for the industry with regards to how sponsorships are done. We welcome this sea change in the scene and are excited to see how this pans out for the Indian esport ecosystem. India’s esport circuit requires the right infrastructure and funding to make the nation world-ready. This is a step in the right direction.” said Varun Bhavnani, Director & Chief Gaming Officer, Entity Gaming.

“We have interacted earlier with few of our community initiatives, and we are indeed excited to officially welcome Entity Gaming to the HyperX family. HyperX has been a strong support for developing the Indian gaming community and we believe it is time to focus on developing the talent and skillsets. We aim to help Team Entity gain the most out of this association and also help other Indian gaming enthusiasts to polish their gameplay in a healthy gaming environment.”, said Mr. Vishal Parekh, Marketing Director, Kingston Technology & HyperX India.

HyperX is the proud sponsor of more than 20 gaming teams globally and the main sponsor of Intel Extreme Masters and Dreamhack festivals. HyperX products are designed to meet the most rigorous demands of professional gamers to give them the winning edge and help gamers stay on top of their game. HyperX continues to support and sponsor the gaming community and recently announced the 2019 ‘We’re All Gamers’ campaign, which includes music, sports and esports ambassadors that participated in developing their own personal gaming personas. ENDS

Rail Vikas Nigam Limited’s IPO to open on Friday, March 29, 2019 with Price Band of Rs. 17 – Rs. 19 per Equity Share each of Face Value of Rs. 10 each

(L to R): Smt.Astha Daga – IDBI Capital Markets & Securities Ltd.,Shri Amar Prakash Dwivedi, Executive Director (PSU & High Speed) – Railway Board, Shri Pradeep Gaur, Chairman & Managing Director – Rail Vikas Nigam Limited, Shri A.k.Choudhary CFO – Rail Vikas Nigam Limited, Shri Venudhar Reddy Nukala, Joint Secretary – Department of Investment & Public Asset Management and Smt. Amishi Kapadia Yes Securities India Ltd. Photo By Sachin Murdeshwar

MUMBAI, March 26, 2019 (HPN) : Rail Vikas Nigam Limited (“Company”) a Miniratna (Category – I) Schedule ‘A’ Central Public Sector Enterprise, incorporated by the Ministry of Railways (“MoR”) will be launching its initial public offering (“IPO” or the “Offer”) which is scheduled to open on Friday March 29, 2019 and close on Wednesday April 03, 2019, with a price band of Rs. 17 – Rs. 19 per Equity Share of face value of Rs. 10 each of the Company (the “Equity Shares”). A discount equivalent to Rs. 0.50 per Equity Share on the Offer Price shall be offered to Retail Individual Bidders and Eligible Employee Bidders, respectively.

The IPO comprises of up to 253,457,280 Equity Shares of the Company through an Offer for Sale by the President of India, acting through the Ministry of Railways, Government of India (the “Selling Shareholder”). The Offer includes a reservation of 657,280 Equity Shares for Eligible Employees for allocation and allotment on a proportionate basis (“Employee Reservation Portion”).

The Offer is being made in terms of Rule 19(2)(b) of the Securities Contracts (Regulation) Rules, 1957, as amended (“SCRR”), and in accordance with Regulation 26(1) of the Securities and Exchange Board of India (Issue of Capital and Disclosure Requirements) Regulations, 2009, as amended (“SEBI ICDR Regulations”), wherein 50% of the Net Offer shall be available for allocation on a proportionate basis to Qualified Institutional Buyers (“QIB Portion”), 5% of the QIB Portion shall be available for allocation on a proportionate basis to Mutual Funds only. The remainder of the QIB Portion shall be available for allocation on a proportionate basis to all QIBs, including Mutual Funds, subject to valid Bids being received from them at or above the Offer Price. However, if the aggregate demand from Mutual Funds is less than 5% of the QIB Portion, the balance Equity Shares available for allocation in the Mutual Fund Portion will be added to the remaining QIB Portion for proportionate allocation to QIBs.

Further, not less than 15% of the Net Offer shall be available for allocation on a proportionate basis to Non Institutional Bidders and not less than 35% of the Net Offer shall be available for allocation to Retail Individual Bidders in accordance with the SEBI ICDR Regulations, subject to valid Bids being received from them at or above the Offer Price. Further, 657,280 Equity Shares shall be offered for allocation and Allotment on a proportionate basis to the Eligible Employees Bidding in the Employee Reservation Portion, conditional upon valid Bids being received from them at or above the Offer Price. All Bidders shall participate in the Offer mandatorily through the Applications Supported by Blocked Amount (“ASBA”) process by providing the details of their respective ASBA Accounts (including UPI ID, if applicable) in which the corresponding Bid Amount will be blocked by the SCSBs. For details, see “Offer Procedure” on page 446 of the Red Herring Prospectus.

The Company will not receive any proceeds from the Offer and all proceeds shall go to the Selling Shareholder i.e. President of India, acting through the Ministry of Railways, Government of India.

The Offer and the Net Offer shall constitute 12.16% and 12.12% respectively, of the post Offer paid-up Equity Share capital of the Company.

Yes Securities (India) Limited, Elara Capital (India) Private Limited and IDBI Capital Markets & Securities Limited are the Book Running Lead Managers (“BRLMs”) to the Offer, while Alankit Assignments Limited is the Registrar to the Offer.

The Equity Shares of Rail Vikas Nigam Limited are proposed to be listed on BSE Limited and National Stock Exchange of India Limited.

ACREX India 2019: The 20th edition of South Asia’s Largest HVAC&R event in Mumbai comes with a huge promise for the industry

Mumbai,  1 March, 2019, (HPN) – ACREX India 2019, the 20^th edition of South Asia’s largest show for  Heating, Ventilation, Air Conditioning and Refrigerating (HVAC&R) industry kicked off with a grand inauguration ceremony on 28th February 2019 at the Bombay Exhibition Centre in Mumbai. The three day exhibition has emerged as an unparalleled benchmark for Heating, Ventilation, Air Conditioning and Refrigerating (HVAC&R) industry by facilitating endless opportunities for companies to showcase their products and expand their business. Over 500 companies from 25 different countries participated in the 20th edition of ACREX India and the exhibition expecting the footfall of more than 50,000.

The exhibition was inaugurated in the presence of key dignitaries such as Mr. C. Subramaniam, ISHRAE National President, Mr. Vishal Kapur, NSC – Chair, Mr. Krishnan, ACREX 2019 Chairman, Mr. Kapil Purandare, ACREX 2019 Convenor, Ms. Sheila J. Hayter, ASHRAE President, Ms. Sonia Prashar, MD, NuernbergMesse India, Ms. Sangita Jhangiani, ISHRAE Mumbai Chapter President, Mr. Nandkumar Mahajan, ISHRAE Thane Chapter President, Mr. Alex Wang,Global Sales Director, Sanhua India Pvt. Ltd., Mr. Kanwaljeet Jawa Managing Director & CEO, Daikin Air Conditioning India Private Limited (DAIPL), Mr. Ravichandran, President, Danfoss Industries Pvt. Ltd, Mr. Anil George, Dy. Managing Director,  Voltas Limited, Mr. Eric Braganza, President, Haier Appliance India Pvt. Ltd. Mr. Gurmeet Singh, Managing Director, Johnson Controls – Hitachi Airconditioning

With a focus on themes like Building Automation (BMS) and Indoor Air Quality (IAQ), ACREX India 2019 believes in contributing towards the rapid growth of Indian HVAC Industry. Driven by evolving needs and lifestyle of the Indian consumers, India HVAC&R market is expected to surpass USD 7.0 Billion in 2019. While the international market in HVAC&R has been growing at approximately 7%, the market demand in India has always been higher than the global demands by almost 30-40% and that’s what makes India a great destination for various manufacturers to spread their base in India. HVAC&R Industry has established its significance as it is widely utilized in the major economy driving industries whether it is IT, agriculture, retail or real estate sector. By leveraging commercial HVAC services, developers can see major operational improvements as it contributes towards profitability, energy savings and consumer satisfaction.

As the industry is noticing a rapid growth, ACREX India is also becoming grander than before by offering opportunity to all participants to reach relevant stakeholders and decision makers. The show has grown remarkably over the years and has emerged as a unique launch pad for potential business-enabling collaborations in the HVAC&R sector, guiding the integrated building solutions. The show is an institution in itself as it conducted deeply educative and informative event with a series of technical workshops to complement the exhibition.

At ACREX India 2019, visitors gained access to insightful seminars and workshops by the subject experts from varied fields. The topics ranged from energy efficiency, green buildings, indoor air quality, refrigerant, IoT. Some of very engaging sessions were also conducted by International Associations such as ASHRAE, REHVA (Federation of European Heating, Ventilating and Air-conditioning Associations), C.A.R, CEEW (Council On Energy, Environment and Water)s, Refrigeration & Air-Conditioning Trades Association Ltd. (RATA), AIACRA and IAQA (Indoor Air Quality Association) and many others.

Mr. C. Subramanium, National President, ISHRAE said, “We endeavour to offer exceptional business opportunities to our exhibitors, whilst leading the industry by setting high standards of knowledge exchange and providing constructive guidance. Through ACREX India, we are aiming to build an exceptional platform for the whole HVAC&R industry and are happy to see the response. As the demand for air conditioning solutions is rising, we see a bright future for HVAC&R industry in India.”

Mr. Pradeep Bakshi, MD & CEO, Voltas Limited said“We have had a long standing relationship with ACREX and are extremely glad to continue as the Knowledge Partner this year. At Voltas, we have been relentlessly working towards developing innovative products & services covering a gamut of business solutions, including Air-conditioning, MEP, HVAC, Water Management and Rural Electrification. This partnership allows the opportunity for two power brands – Voltas Limited and ACREX India to come forth and showcase latest developments in the dynamic business environment for the HVAC industry. As the market leader, we feel responsible and are committed to create a roadmap for inclusive growth in domestic as well as international markets. We are delighted to be associated with ACREX.”

Mr. Vishal Kapur, National Past President, ISHRAE said “India’s aggregate cooling demand is poised to grow 8 times over the next 20 years. This is happening because of growing urbanization, increased aspirations, need for better thermal comfort conditions, worsening ambient air conditions, increased industrialization and a fast-growing economy. All this will add to our energy bills as HVAC consumes the largest chunk of electricity in buildings.” ENDS