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Vraj Iron And Steel Limited Initial Public Offer to Open on June 26, 2024

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Vraj Iron And Steel Limited Initial Public Offer to Open on June 26, 2024 • Price Band fixed at ₹ 195 to ₹ 207 per equity share of face value of ₹ 10 each (“Equity Share”); • Bid /Issue will open on Wednesday, June 26, 2024 and close on Friday, June 28, 2024. The Anchor Investor Bidding Date shall be Tuesday, June 25, 2024. • Bids can be made for a minimum of 72 Equity Shares and in multiples of 72 Equity Shares thereafter • RHP Link: https://www.afsl.co.in/pdfnew/Vraj%20Iron%20and%20Steel%20Limited%20-%20RHP.pdf National, June 19, 2024: Vraj Iron and Steel Limited (“VISL” or the “Company”), shall open its Bid / Issue in relation to its initial public offer of Equity Shares on Wednesday, June 26, 2024. The total issue size of Equity Shares of face value ₹ 10 each aggregated up to ₹ 1,710 million [₹ 171 crore] comprises of fresh issue (The “Fresh Issue”). The Anchor Investor Bidding Date shall be Tuesday, June 25, 2024. The Bid/Issue will close for subscription on Friday, June 28, 2024. The Price Band of the Issue has been fixed at ₹ 195 to ₹ 207 per Equity Share. Bids can be made for a minimum of 72 Equity Shares and in multiples of 72 Equity Shares thereafter. (The “Price Band”). The Company proposes to utilize net proceeds towards funding for (i) Capital Expenditure towards the “Expansion Project” at Bilaspur Plant estimated to be ₹ 1,645 million [₹ 164.50 crore] and (ii) balance amount towards General corporate purpose. (The “Object of the Issue”) The capital expenditure estimated to be ₹ 1,645 million [₹ 164.50 crore] towards Capital expenditure for the “Expansion Project” at Bilaspur Plant. The Company has already deployed ₹ 700 million [₹ 70 crore] from loan from HDFC Bank which is proposed to be repaid from net proceeds of the IPO. For the balance amount of ₹ 945 million [₹ 94.5 crore] the Company has already deployed ₹ 320 million [₹ 32.00 crore] from internal accrual and further wish to deploy ₹ 30 million [₹ 3.00 crore] from internal accruals. The rest of the ₹ 595 million [₹ 59.5 crore] is further to be funded from the net proceeds of the IPO in FY 2024-25. The Equity Shares are being offered through the Red Herring Prospectus of the Company dated June 18, 2024 filed with the Registrar of Companies, Chhattisgarh. (The “RHP”) The Equity Shares to be offered through the Red Herring Prospectus are proposed to be listed on the Stock Exchanges being BSE Limited (“BSE”) and National Stock Exchange of India Limited (“NSE” together with BSE, the “Stock Exchanges”). For the purposes of the Issue, BSE is the Designated Stock Exchange. (The “Listing Details”) Aryaman Financial Services Limited is the Book Running Lead Manager This Issue is being made in terms of Rule 19(2)(b) of the SCRR read with Regulation 31 of the Securities and Exchange Board of India (Issue of Capital and Disclosure Requirements) Regulations, 2018, as amended (the “SEBI ICDR Regulations”). The Issue is being made for at least 25% of the post-Issue paid-up Equity Share capital of our Company. This Issue is being made through the Book Building Process in accordance with Regulation 6(1) of the SEBI ICDR Regulations wherein not more than 50% of the Issue shall be available for allocation on a proportionate basis to Qualified Institutional Buyers (“QIBs” and such portion the “QIB Portion”), provided that our Company in consultation with the BRLM may allocate up to 60% of the QIB Portion to Anchor Investors on a discretionary basis in accordance with SEBI ICDR Regulations (“Anchor Investor Portion”). One-third of the Anchor Investor Portion shall be reserved for domestic Mutual Funds, subject to valid Bids being received from the domestic Mutual Funds at or above the Anchor Investor Allocation Price. Further, 5% of the QIB Portion (excluding the Anchor Investor Portion) shall be available for allocation on a proportionate basis to Mutual Funds only, and the remainder of the QIB Portion shall be available for allocation on a proportionate basis to all QIB Bidders (other than Anchor Investors), including Mutual Funds, subject to valid Bids being received at or above the Issue Price. Further, not less than 15% of the Issue shall be available for allocation on a proportionate basis to Non-Institutional Bidders out of which (a) one third of such portion shall be reserved for applicants with application size of more than ₹ 200,000 and up to ₹ 1,000,000 and (b) two-third of such portion shall be reserved for applicants with application size of more than ₹ 1,000,000 provided that the unsubscribed portion in either of such sub-categories may be allocated to applicants in the other sub-category of Non-Institutional Bidders and not less than 35% of the Issue shall be available for allocation to Retail Individual Bidders in accordance with the SEBI ICDR Regulations subject to valid Bids being received at or above the Issue Price. All Potential Bidders, other than Anchor Investors, are required to participate in the Issue by mandatorily utilizing the Application Supported by Blocked Amount (“ASBA”) process by providing details of their respective ASBA Account and UPI ID in case of UPI Bidders using the UPI Mechanism, as applicable, pursuant to which their corresponding Bid Amounts will be blocked by the Self Certified Syndicate Banks (“SCSBs”) or by the Sponsor Banks under the UPI Mechanism, as the case may be, to the extent of respective Bid Amounts. Anchor Investors are not permitted to participate in the Issue through the ASBA process. For details, see “Issue Procedure” on page 391 of the Red Herring Prospectus. All capitalised terms used herein and not specifically defined have the same meaning as ascribed to such terms in the RHP Disclaimer: VRAJ IRON AND STEEL LIMITED is proposing, subject to receipt of requisite approvals, market conditions and other considerations, to make an initial public offering of its equity shares (“Issue”) and has filed a Red Herring Prospectus (“RHP”) with the Registrar of Companies, Chhattisgarh (“RoC”). The RHP is available on the website of the SEBI at www.sebi.gov.in, the website of the BSE Limited at www.bseindia.com and the website of the National Stock Exchange of India Limited at www.nseindia.com and the website of the Book Running Lead Manager to the Issue, Aryaman Financial Services Limited at www.afsl.co.in. All potential Investors should note that investment in equity shares involves a high degree of risk. For details, potential investors should refer to the Prospectus which may be filed with the RoC in the future, including the section titled “Risk Factors”. Potential investors should not rely on the DRHP filed with the SEBI in making any investment decision. Potential investor should read the Red Herring Prospectus carefully, including the “Risk Factors” on page 32 of the Red Herring Prospectus before making any investment decision. The Equity Shares offered in this Issue have not been and will not be registered under the U.S. Securities Act of 1933 (“Securities Act”) and may not be offered or sold within the United States (as defined in Regulation S under the Securities Act), except pursuant to an exemption from, or in a transaction not subject to, the registration requirements of the Securities Act. Accordingly, the Equity Shares are only being offered and sold outside the United States in offshore transactions in compliance with Regulation S under the Securities Act and the applicable laws of the jurisdiction where those offers and sales occur. There will be no offering of securities in the United States.

Salesforce India Launches Public Sector Division to Help Government Build Trusted Citizen Experiences

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Salesforce India Launches Public Sector Division to Help Government Build Trusted Citizen Experiences Mumbai, June 19, 2024 — Salesforce (NYSE: CRM), the #1 CRM, today announced the launch of its Public Sector division in India to drive transformation, aimed at empowering government agencies and public sector organisations to transform citizen experiences with Salesforce technology. Salesforce Public Sector Solutions are designed to help government agencies serve people faster with out-of-the-box apps designed for digital service delivery. Built leveraging the Salesforce Einstein 1 Platform, this allows government organisations to future proof their IT investment with citizen developer, AI, and automation tools, while helping to enhance their services’ agility, efficiency, and digital transformation. Salesforce also recently announced the launch of Public Sector Einstein 1 for Service, including CRM, trusted AI, and data capabilities to help government agencies automate administrative tasks and provide faster service to citizens. Salesforce Public Sector Solutions are available on a public cloud infrastructure, called Hyperforce, which is a next generation infrastructure architecture, built for the public cloud. This enables customers to help meet their data residency, data control and security obligations. Fundamentally, Hyperforce is leveraging the power of public cloud infrastructure with a security-first culture, Zero Trust principles, and integration of enhanced privacy-centred standards. Salesforce’s product offerings enable government agencies and public sector organisations in India to succeed at scale. Tableau and Einstein Analytics offer advanced data visualisation and AI-powered analytics. MuleSoft’s integration solutions make it easy to integrate Salesforce with any cloud or on-premises system to transform the experience. Additionally, Slack makes work more productive and conversational with AI-powered summaries and data-triggered workflows. The Salesforce low code platform allows for creation of custom applications for unique needs. The AppExchange also offers a variety of pre-built apps specifically designed for government use. Comments on the news Arundhati Bhattacharya, CEO & Chairperson, Salesforce India, said, “Our focus on the public sector, comes at a time when cloud has become the underlying strength of digital transformation efforts, playing a pivotal role in paving the way for innovation and propelling India to become a $1 trillion digital economy by 2030. Artificial intelligence – both predictive and generative, machine learning, and application development based on trust will boost citizen experiences.” Arun Kumar Parameswaran, Managing Director – Sales & Distribution, Salesforce India, said, “Today, citizens expect better, faster service that’s tailored just for them across every platform they use. Building a 360 view of citizens to deliver services based on a unified data platform with trust at the core and deep industry expertise will unlock tremendous potential for government organisations. Generative AI could unlock a $1.75 trillion productivity opportunity annually across many functions and levels of government. I believe Salesforce’s collaboration with government entities has the potential to significantly shape and redefine the experiences of Indian citizens. I am excited to be a part of this critical milestone for Salesforce in India and to scale it to new heights, modernising experiences and delivering unmatched value to the public sector.” Salesforce India recently expanded its flagship Centre of Excellence (CoE) in Hyderabad, India, strengthening the region as a leading talent, knowledge, and global innovation hub for the company. Today, Salesforce has 11,000+ employees in India, across sites in Hyderabad, Bengaluru, Mumbai, Gurugram, Pune, and Jaipur. The company is enabling public sector organisations around the world to modernise government service, transform digital service delivery, achieve faster time to value, and improve mission success with AI, purpose-built solutions, and smart insights that help move the mission forward – all within a trusted cloud environment. India continues to be a high-growth market for Salesforce. Leading Indian businesses across the financial services, manufacturing, retail and consumer goods, healthcare, automobile, travel, real estate, education and public sector are turning to Salesforce to help them create digital strategies that will increase productivity, drive efficiency, and revolutionise their interactions with customers in a new era of innovation where expectations for products and services are changing. Salesforce’s growth in India is also supported by an extensive ecosystem of established strategic partners, start-ups, over two million Salesforce developers, and more users of Trailhead – the company’s free online learning platform – than any market outside the United States. It’s a unique, highly dynamic community facilitating new Salesforce solutions and opportunities within the region.

BLS International Opens a New State-of-the-art Visa Application Centre in MumbaiAuto Draft

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BLS International Opens a New State-of-the-art Visa Application Centre in Mumbai The center will have the capacity to process about 1000 visa applications per day, with a focus on Spain, along with services for multiple countries, and increased processing efficiency New Delhi, June 20, 2024: BLS International, a trusted global tech-enabled services partner for governments and citizens and a global leader in visa processing and consular services, today announced the inauguration of its new Visa Application Centre in Mumbai. This new centre is part of BLS International’s commitment to enhancing the customer experience and streamlining the visa application process. The newly inaugurated visa application centre, located at Nariman Point, will cater to a growing demand for visa applications, with a particular focus on Spain. The facility will also handle applications for visas to Slovakia, Egypt, Gambia, Morocco, and South Korea. It will handle all short-term and long-term visas, catering to a wide range of travelers’ needs, and is capable of processing about 1000 visas per day. This new center, in addition to serving Mumbai residents, also caters to applicants from nearby regions, significantly expanding BLS International’s reach and impact. The center, around 6000 square feet, is equipped with state-of-the-art biometric enrollment, document verification systems, internet kiosks, and a premium lounge. Internet kiosks provide easy access to online resources for completing forms, checking application status, and gathering information. It also has a premium lounge that offers a comfortable environment with personalized assistance for a seamless experience. Staffed by experienced professionals and featuring advanced technology, the center aims to make the visa application process efficient and pleasant. The prestigious center was inaugurated by Mr. Fernando Heredia Noguer, Consul General of Spain, adding significance to the event. Mr. Shikhar Aggarwal, Joint Managing Director at BLS International, expressed enthusiasm about the new centre, stating, “With great enthusiasm, we announce the inauguration of our cutting-edge center in Mumbai. This state-of-the-art facility marks a monumental leap in our dedication to delivering an unparalleled and efficient visa-processing experience for our esteemed patrons. With the capability to process around 1000 visas daily, this center is strategically designed to enhance and streamline our workflow. In today’s dynamic world, travel is indispensable, and Spain remains a top choice for Indian travelers. We foresee this trend thriving throughout the fiscal year, and this new center is impeccably poised to meet the growing demand.” The new office boasts a significantly larger space to comfortably accommodate an up to 1000 applicants daily. The expanded facilities aim to reduce waiting time and focus on capacity building to handle increased demand, ensuring timely processing of visa applications. The centre is staffed with trained professionals dedicated to providing exceptional service. The visa application centre features a modern and welcoming design, creating a positive environment. Additionally, the event witnessed the presence of key dignitaries, including government officials and diplomats, highlighting the significance of BLS International’s role in facilitating international travel. About BLS International: BLS International Services Ltd. is a trusted global tech-enabled services partner for governments and citizens, having an impeccable reputation for setting benchmarks in the domain of visa, passports, consular, citizen, e-governance, attestation, biometric, e-visa and retail services since 2005. The company is recognized as “India’s Most Valuable Companies” by Business Today Magazine, “Best under a Billion’ Company” by Forbes Asia, and ranked among “Fortune India’s Next 500 companies”. The company works with over 46 client governments, including Diplomatic Missions, Embassies and consulates, and leverages technology and processes that ensure data security. The Company now has an extensive network of more than 50,000+ centres globally, with a robust strength of over 60,000+ employees and associates that provide consular, biometrics, and citizen services. BLS has processed over 232 million applications to date globally. BLS International is certified with as CMMI DEV ML5 V2.0 & SVC ML5 V2.0, ISO 9001:2015 for Quality Management Systems, ISO 27001:2013 for Information Security Management Systems, ISO 14001:2015 for Environmental Management Systems, and more. BLS International is the only listed company in this domain with operations in 65 countries.

Blog Post Title

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What goes into a blog post? Helpful, industry-specific content that: 1) gives readers a useful takeaway, and 2) shows you’re an industry expert.

Use your company’s blog posts to opine on current industry topics, humanize your company, and show how your products and services can help people.

Welcome to Flatsome

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Welcome to WordPress. This is your first post. Edit or delete it, then start blogging!

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