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The founding family of the 127-year-old <keyword id="20337487" type="General" weightage="20" keywordseo="Godrej-Group" source="keywords" meta.keywordsubtype="org" meta.entityname="Godrej Group" meta.hostid="153" meta.entityid="Godrej Group">Godrej Group</keyword>, which deals in locks to soaps to aerospace to real estate, has reached an agreement to split the conglomerate, as per a joint announcement. On Tuesday, the Godrej family announced an <keyword id="21485962" type="General" weightage="20" keywordseo="ownership-realignment" source="keywords">ownership realignment</keyword> of their shareholdings in the Godrej Companies. The realignment in the conglomerate, incorporated back 1987, has been arrived at in a "respectful and mindful" way to maintain harmony and to better align ownership in acknowledgement of the differing visions of the Godrej family members, both sides of the family said in a statement. This is expected to help maximize strategic direction, focus, agility, and will accelerate the process of creating long-term value for shareholders and all other stakeholders. The realignment will be implemented after the relevant regulatory approvals have been obtained. Godrej Enterprises Group (GEG) comprises of <keyword id="19970508" type="General" weightage="20" keywordseo="Godrej-Boyce" source="keywords" meta.keywordsubtype="org" meta.entityname="Godrej &amp; Boyce" meta.hostid="153" meta.entityid="Godrej &amp; Boyce">Godrej &amp; Boyce</keyword> (G&amp;B) and its affiliates, which have presence across multiple industries spanning aerospace, aviation, defence, engines and motors, energy, security, building materials, construction, green building consulting, EPC services, intralogistics, healthcare equipment, durables, furniture, interior design, architectural fittings, IT, software as well as infrastructure solutions. This group will now be controlled by <keyword id="20311265" type="General" weightage="20" keywordseo="Jamshyd-Godrej" source="keywords">Jamshyd Godrej</keyword>, Chairperson and Managing Director, Nyrika Holkar, Executive Director, and their immediate families. <keyword id="20380758" type="General" weightage="20" keywordseo="Godrej-Industries" source="keywords" meta.keywordsubtype="org" meta.entityname="Godrej Industries" meta.hostid="153" meta.entityid="Godrej Industries">Godrej Industries</keyword> Group (GIG), which includes the listed companies, Godrej Industries, Godrej Consumer Products, Godrej Properties, Godrej Agrovet and Astec Lifesciences will have <keyword id="20594913" type="General" weightage="20" keywordseo="Nadir-Godrej" source="keywords">Nadir Godrej</keyword> as Chairperson and will be controlled by <keyword id="21485960" type="General" weightage="20" keywordseo="Adi-Godrej" source="keywords">Adi Godrej</keyword>, Nadir Godrej, and their immediate families. <keyword id="20481243" type="General" weightage="20" keywordseo="Pirojsha-Godrej" source="keywords">Pirojsha Godrej</keyword> will be the Executive Vice Chairperson of GIG and will succeed Nadir Godrej as the Chairperson in August 2026, the statement said. Jamshyd Godrej said "With this future-facing family agreement now in place, we can further drive our growth aspirations with fewer complexities and focus on leveraging our core strengths in high-tech engineering and design-led innovation across our strong portfolio of strategic, consumer and emerging businesses." Nadir Godrej said "Godrej was founded in 1897 to help build economic independence for India. This deep purpose of innovating for a cause - the values of trust and respect and the belief in trusteeship and making communities that the companies operate in stronger and better - continue to form the bedrock of who we are 125 years later. We look forward to building on this legacy with focus and agility." Both Groups will continue to use the Godrej brand and are committed to growing and strengthening their shared heritage, it added. (ANI)

127-year-old Godrej Group splits conglomerate between family

<keyword id="6369697" type="General" weightage="20" keywordseo="Godrej" source="Orion">Godrej</keyword> &amp; Boyce on Tuesday said it will be investing Rs 100 crore over the next three years to acquire material handling equipment. Demand for renting the equipment is high and the capital investments will be by Godrej Rentrust eyeing a share of the same, a statement said. Pegging the overall market at Rs 2,200 crore, the company said it is eyeing business in the auto, engineering, chemicals and pharma, food and beverages, fast-moving consumer goods, logistics, ecommerce and retail sectors. In the January-March period, it received 100 orders from companies for deploying equipment, the statement said. <keyword id="17561767" type="General" weightage="20" keywordseo="renting-equipment" source="Orion">Renting equipment</keyword> has become a preferred option for businesses seeking managed services and bypassing high upfront costs, the company said, adding that it has grown at over 20 per cent per annum over the last five years. SEE ALSO: <a href="https://www.businessinsider.in/stock-market/news/nifty-sensex-now-at-reasonable-valuations-but-midcaps-small-caps-and-financials-still-have-some-juice-left/articleshow/100611412.cms">Nifty, Sensex now at 'reasonable valuations' but midcaps, small caps and financials still have some juice left</a> <a href="https://www.businessinsider.in/business/auto/news/mm-q4-standalone-net-profit-rises-22-yoy-to-1549-crore-misses-estimates/articleshow/100528645.cms">M&amp;M Q4 standalone net profit rises 22% YoY to ₹1,549 crore, misses estimates</a> <a href="https://www.businessinsider.in/business/telecom/news/airtel-not-jio-to-gain-the-most-from-vodafone-ideas-troubles/articleshow/100524707.cms">Airtel, not Jio, to gain the most from Vodafone Idea's troubles</a>

Godrej Group arm to invest ₹100 crore to acquire material handling equipment to be rented out

<ul><li>The pandemic has led to a complete overhaul of the retail industry where more and more people are looking for contactless consumer experiences.</li><li>To solve this problem, <keyword id="155300" type="COMPANY" weightage="20" keywordseo="Godrej-and-Boyce">Godrej and Boyce</keyword>’s premium furniture brand <keyword id="6382757" type="UNKNOWN" weightage="20" keywordseo="script">Script</keyword> is taking its stores live through WhatsApp.</li><li><keyword id="274281" type="PERSON" weightage="20" keywordseo="Rajat-Mathur">Rajat Mathur</keyword>, Business Head, Script by Godrej and Boyce talks to us about this strategy as well as everything else that the brand is doing to make its consumer experience frictionless.</li></ul>The country is slowly coming out of the lockdown. Malls and public places are being gradually opened. However, the fact still remains that the corona-crisis is far from over. India recently made headlines as the country having the maximum one-day jump in positive cases. It is therefore obvious that consumers, despite having an intent, might not feel comfortable in physically visiting shops and showrooms yet. This has thrown a major challenge for retail brands for which touch and feel is a very important part of the entire consumer journey. This challenge has made brands think out-of-the-box and come up with innovative, novel solutions to make consumers excited about their offerings. Script, a premium furniture brand from the Godrej and Boyce stable has recently come up with an innovative idea, to connect with its audience. It is taking its stores live via WhatsApp in 4 cities. The platform allows the brand to upload campaigns, catalogues, brand/product stories, while also building a direct contact with consumers. However, while strengthening its digital offerings, the brand is pretty confident that the brick and mortar stores will continue to stay relevant and people will come back to them soon. We spoke to Rajat Mathur, Business Head, Script by Godrej and Boyce who told us the brand’s efforts to build a stronger connect, to smoothen consumer journeys and also to make sure they come back to them, once things get back to normal. Excerpts: Q) What was the idea behind the <keyword id="9470958" type="UNKNOWN" weightage="20" keywordseo="whatsapp-store">WhatsApp store</keyword>? Have there been any logistical challenges of the WhatsApp store? Social distancing is likely to stay for a long time now, and we have always been looking forward to technological integrations in retail for enhancing the customer experience. The Whatsapp store is a versatile tool which helps us interact and engage with our customers. It’s almost like a micro site enabling rich content for our consumers. With a very simple user interface this platform allows us to upload campaigns, catalogues, brand / product stories and much more. It also helps us with customer query resolutions since it enables us to be in direct contact with them. It also helps us in giving virtual store tours to our customers. Also, since it’s a very simple application, we haven’t faced any logistical issues as yet. Q) What kind of reception have you seen so far? Can you share some figures, in terms of what kind of enquiries or actual conversions have you seen on your Whatsapp store so far? The response has been very encouraging. We have started getting a lot of enquiries on the Whatsapp store and have had conversions as well in most of our stores. The best part is that most of these conversions have large ticket values. Q) You have opened this facility in 4 cities so far. What are some of the other cities you want to take this feature to? We have started this initiative in Delhi, Gurgaon, Bangalore and Mumbai. We are also opening our Park Street, Kolkata store soon and have already implemented this there with the pre-cursor campaigns. Q) What will retail in this new world order mean? How will things be different once the lockdown is over completely? I think brick-and-mortar retail will continue to flourish post the lockdown. We will see a lot of technology integration in physical retail. This phase, if anything, will catalyze the omni-channel concept across industries and categories. Also, the success of a retail business greatly depends on its ability to adapt to the various lifestyle changes and be able to help its consumers have a seamless experience irrespective of the situation. With the world turning to the virtual aid, where the consumers cannot visit the store, we made the store come to them. The new world calls for a great sense of trust in any retail brand and to seed that, the retail industry needs to empathize, adapt and implement. Q) What role will technology play in the post COVID world? Necessity is the mother of invention and the COVID-19 outbreak proved this no end. As I said we can expect a lot of technology coming into physical retail. Phygital will be the new mantra across the country in the retail industry. A lot of technology based tools have already been developed and implemented. For the consumers, the post COVID era will greet them with a very different level of shopping experience powered by technology. Furthermore, there are organizations that are willing to continue the work from home model even after the post COVID world while there will be employees opting for the same as well. This makes us anticipate a growing demand for the multi-functional and work-from-home furniture like the Float Ecosystem, Lagoon Bed or the Dwell Ecosystem that will add to the efficacy of a consumer’s experience. Q) There has been an obvious increase in demand for home-office related furniture. Can you share how important this segment is for you right now, and what your area of focus going ahead will be? As the world goes through a pandemic, it is important to map out the challenges and opportunities for Script to communicate and stay connected with people. Clearly the following trends have emerged out during this phase and we believe strongly that these are here to stay for good. <ul><li>Home, which is the center of people’s universe, has become the new workspace</li><li>Focus on home activities with family</li><li>Furniture is central to all activities</li><li>Home aesthetics and functionality matter</li><li>Furniture is the new essential</li></ul> The work from home segment is extremely important for us and we are working on coming up with smart solutions towards the same with the intent of giving our customers the greatest level of experience while they work from their home spaces. We are in the process of designing compact WFM ecosystems which will be out in the market by November this year. While WFH is big today, Script is committed to providing creative solutions for other activities in the home space and those which are integral to today’s urban living. So we are working on creating solutions for binge-watching, socializing, reading, other me-time activities so on and so forth. Q) Being a retail, consumer-facing brand, what have your key learnings from the experience been so far? Retail will remain a relevant experience for both consumers and brands. It has become part of the society’s fabric; a ritual with firm roots in contemporary living. As such, retail is not going away anytime soon. For someone with a high disposable income, going to a retail store provides twin joys: the experiential joy of the place itself as well as the joy of taking part in a pleasurable, indulgent social activity. Since our stores reopened, we have been pleasantly surprised to see the level of footfalls we are getting. It is almost the same as last year for the same period. Thus, reinstating our firm belief that furniture is the new essential. During the lockdown people have had an opportunity to interact with their home space unlike ever before. Consumers also realized that this pandemic has led to a permanent cultural shift, WFH being a prime example. Also since furniture is a category which solicits touch and feel before a final buying decision is taken, physical retail in this category will never lose relevance. Q) Where will the next phase of growth for Script come from? What will your key areas of focus be, going ahead? Growth for Script will come from both, business from the existing stores and expansion through the new stores. We are relatively a new brand. Most of our stores have been around just for a year at most and we expect them to grow at inorganic rates. Apart from this, we are looking at adding 5 new stores every year for the next 3 years. The Pandemic has catalyzed online retail growth across categories. We are hopeful of improving our online sales. Definitely creating a great omni-channel experience for the customer is the way forward for us. Q) How did your marketing strategies change during the lockdown months, and going ahead, what will your broad marketing strategies be? During the lockdown phase, we moved forward with the following philosophy: <ul><li>Communication and messaging should primarily show genuine empathy and solidarity. People are seeking out smaller moments of joy and reasons that will distract them at least a little from the dark reality looming outside their quarantine windows.</li><li>By offering something that people want, positioning it as something that eases their guilt of purchase or helps them justify their needs will help build RELATIONSHIPS with the consumers. And the power of these relationships should not be underestimated.</li><li>Even going forward, we believe that merely regular brand messaging and product pushing will not work. Messages that relate to these lifestyle changes and are relevant to positioning the products as needs and essentials will reinforce the brand relevance.</li><li>We need to highlight ways in which the brand is doing its bit to give back to the community.</li></ul>

How Godrej and Boyce’s WhatsApp stores are ensuring social distancing doesn’t become a deterrent for sales

Declaring that the upcoming Mumbai-Ahmedabad bullet train project is of 'national importance', the Bombay High Court on Thursday dismissed a plea of <keyword id="6369697" type="General" weightage="100" keywordseo="godrej" source="Orion">Godrej</keyword> &amp; Boyce Manufacturing Co. challenging the acquisition of its land in Vikhroli. The verdict by a division bench of Justices R.D. <keyword id="204962" type="General" weightage="50" keywordseo="dhanuka" source="Orion">Dhanuka</keyword> and Justice M.M. <keyword id="2100727" type="General" weightage="50" keywordseo="sathaye" source="Orion">Sathaye</keyword> said: "The project is of national importance and public interest... No interference is required. No illegality found in the compensation." The judgement signalling a green flag comes as a breather for the mega-project on the eve of Prime Minister Narendra Modi's visit to Mumbai on Friday. Justices Dhanuka and Sathaye also said that it is the paramount collective interest that would prevail and not private interest "Project would be first of its kind. Petition is dismissed". When Godrej group's counsel, Senior Advocate Navroz Seervai sought a stay on the order to enable them appeal in the Supreme Court, the high court refused to entertain the plea. Opposing, the state's Advocate-General <keyword id="694743" type="General" weightage="50" keywordseo="ashutosh-kumbhakoni" source="Orion">Ashutosh Kumbhakoni</keyword> told the court that the land acquisition for the project was completed except for the stretch owned by Godrej group, and pleaded that the company's plea should be dismissed. Additional Solicitor-General Anil Singh argued that the entire land acquisition in Gujarat was complete and the (project) work had started, while in Maharashtra, 3 per cent of the acquisition was remaining to be done. He contended that the Godrej petition was delaying the project and led to cost escalations, and if the compensation amount was a concern, then a higher payout could be considered, but the project could not be made to suffer more. For the past four years since August 2019, the government and the Godrej group have been squabbling over the acquisition of the company's land for what is billed as Modi's pet project coming up with Japanese collaboration. Slated to cost around Rs 1.60 Lakh-Crore, the bullet train project will be 508 kms long, including 21 kms running underground and one of the entry points to the subterranean tunnel will fall on the land owned by Godrej in Vikhroli which was taken over by the government. After the acquisition of around 9.69 acres of its land, Godrej group had challenged the compensation of Rs. 264 crore awarded by the Deputy Collector in Sep. 2022, claiming it was a fraction of the original offer of Rs 572 crore, and how there were multiple and patent illegalities in the entire process. The company had also challenged the August 2019 notification under the Right To Fair Compensation and Transparency In Land Acquisition, Rehabilitation and Resettlement Act, 2013 and the constitutional validity of certain sections, which has been upheld by the high court. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/international/news/death-toll-in-turkiye-syria-earthquake-surpasses-15000/articleshow/97759708.cms">Death toll in Turkiye, Syria earthquake surpasses 15,000</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/tech/news/google-unleashes-ai-powered-updates-to-revamp-user-experience-on-maps-search-and-translate/articleshow/97761551.cms">Google unleashes AI-powered updates to revamp user experience on Maps, Search and Translate</a>

Bombay HC says bullet train project of 'national importance', junks Godrej plea

<keyword id="6354576" type="CITY" weightage="100" keywordseo="Facebook">Facebook</keyword> had introduced “Facebook for Work” as a pilot about 18 months back, adding some of the biggest companies across industries as clients- from <keyword id="6377922" type="CITY" weightage="20" keywordseo="Starbucks">Starbucks</keyword> to Danone, <keyword id="6369697" type="COMPANY" weightage="20" keywordseo="Godrej">Godrej</keyword> to <keyword id="51958" type="ENTERTAINMENT" weightage="20" keywordseo="YES">Yes</keyword> Bank, Government Technology Agency of <keyword id="6356662" type="COUNTRY" weightage="20" keywordseo="Singapore">Singapore</keyword> and even known startups such as auto rickshaw aggregator Jugnoo and logistics company Delhivery. Since its launch, <keyword id="1384858" type="UNKNOWN" weightage="20" keywordseo="Facebook-at-work">Facebook at Work</keyword>, now rebranded as “Workplace”, has added over 1,000 companies as “early adopters” who got to use the version for corporates free of cost. 
 On Monday, Facebook opened up <keyword id="6357280" type="PERSON" weightage="20" keywordseo="workplace">Workplace</keyword> for any organisation that wants to use the service, at great pricing- companies will pay $3 per user for the first 1,000 monthly active users, $2 per user for 1,001 – 10,000 monthly active users, and $1 per user for over 10,000 monthly active users. 
 According to a survey by <keyword id="6358918" type="PERSON" weightage="80" keywordseo="Deloitte">Deloitte</keyword> in September, senior executives across companies called for a "cultural transformation" over the next five years for better communications and collaboration within companies itself. About 76% of these executives predicted a move away from email and towards relevant digital tools. 
 
The shift from email to more social tools has not been a complete success for most organisations that have attempted similar in-house or commercially available tools or platforms. India is a strategic choice for Facebook to look for growth in the enterprise because it already has a large user base in the country.

Facebook
launches Facebook for Work rebranded as ‘Workplace’

The spirit of <a href="This%20spirit%20of%20Godrej%20was%20born%20in%201897,%20when%20a%20young%20man%20called%20Ardeshir%20Godrej%20gave%20up%20law%20and%20turned%20to%20lock%20making.%20He%20was%20the%20first%20Indian%20manufacturer%20to%20displace%20well-entrenched%20foreign%20brands%20from%20the%20market%20that%20ruled%20the%20Indian%20market%20in%20the%20Briti">Godrej</a> was born in 1897, when a young man called <a href="http://www.businessinsider.in/CEOs-raking-in-more-moolah-than-companies-promoters-Heres-why/articleshow/48295199.cms">Ardeshir Godrej</a> gave up law and turned to lock making. He was the first Indian manufacturer to displace well-entrenched foreign brands that ruled the Indian market in the <keyword id="6355332" type="COMPANY" weightage="100" keywordseo="British">British</keyword> era. The name ‘<keyword id="6369697" type="COMPANY" weightage="100" keywordseo="Godrej">Godrej</keyword>’ engraved into the shiny metal of the <a href="http://www.businessinsider.in/5-India-Inc-scions-who-went-to-Harvard-to-learn-the-tricks/articleshow/47038743.cms">Godrej</a> locks came to be known as a symbol of self reliance, trust-worthiness, assertiveness and progressiveness for a new generation of Indians. 
 
It is now a $US 5.0 billion (2015) industry. 
 
(Image credits: Indiatimes)

#Independence Day Special: In the times of British raj, know how the Godrejs found the key to their empire!

<ul><li><keyword id="141771" type="COMPANY" weightage="20" keywordseo="Godrej-Appliances">Godrej Appliances</keyword> said that it will augment production capacity by 1.9 million units by 2022. </li><li>It plans to introduce newer technologies and carry out backward integration. </li></ul>Godrej Appliances on Monday said it will invest Rs 700 crore to increase its annual appliance production capacity by 19 lakh units by 2022, taking it up to 65 lakh units per annum.
 The appliances maker also plans to introduce newer technologies and carry out backward integration.
 "Godrej Appliances is all set to invest another Rs 700 crore by 2022. This latest announcement takes the tally of Godrej Appliances' investment in capacity and technology expansion to Rs 1,100 Crore over a period of six years," the Godrej &amp; Boyce Mfg Co unit said.
 The fresh investment is aimed at raising the company's annual appliance production capacity by 19 lakh units by 2022, increasing it up to 65 lakh units per annum, it added.
 With this investment, Godrej Appliances plans to double the current capacity for washing machines - both fully automatic top load and semi-automatic - at its Shirwal and Mohali plants.
 "The brand also plans to introduce a new product line for fully automatic front load washing machines with annual capacity of 4 lakh units," it added.
 In the refrigerator category, Godrej Appliances intends to augment the production capacity by 33 per cent in both premium range and mass range.
 "The investment is also directed towards manufacturing of power-efficient chest freezers and 30 lakh units of compressors utilising newer technology in the product and processes. Part of the outlay will be for backward integration of air conditioners at the Shirwal factory," it added.
 Godrej Appliances has also decided to up the ante to amplify the on-going premiumisation focus.
 The company's Business Head and Executive Vice President Kamal Nandi said, "This investment broadens Godrej Appliances' capability and reflects its commitment to providing customers with exceptional products, while attesting our alignment towards 'Make in India'.
 "Through this expansion, we aim to take brand Godrej to even greater heights utilising our strength of manufacturing expertise. The proposed expansion, once complete, will allow us to meet the increasing demand for premium products from Indian customers better."
 Godrej Appliances, a business unit of Godrej &amp; Boyce Mfg Co Ltd, is present in the segment such as air conditioners, washing machines, refrigerators, microwave ovens and air purifiers.
 It has a network of 23,000 dealer and retailer outlets, and is present across India through over 100 exclusive brand outlets.

Godrej beats slowdown blues to invest ₹700 cr and expand its appliance production

<ul><li>Cousins Adi Godrej and Jamshyd Godrej are known to have differences in opinion on how to develop their massive land bank </li><li>Their grandfathers have founded the Godrej Group and have been acquiring this land since the 1940s. </li><li>Jamshyd has hired Nimesh Kampani of J M Financial while Adi and his brother Nadir have hired Uday Kotak and Cryril Shroff for negotiations.</li></ul>One of India’s oldest business families of India, Godrej has decided to split their enormous land holdings, tangled between themselves, to make way for real estate development, according to reports. Cousins Adi Godrej and Jamshyd Godrej are known to have differences in opinion on how to develop their massive land bank that extends over 3,400 acres in Mumbai. The Godrej family released a joint statement by Adi Godrej and Jamshyd Godrej, calling them ‘normal’ family discussions. 
 <div type="ExtQuote" text="We have been working on a long term strategy plan for the Group for several years. As part of this exercise, we have sought advice from external partners to help us think through options. The family regrets the sensationalist media coverage of these normal and private family discussions." auname="Statement by Godrej family"></div>

 Their grandfathers have founded the Godrej Group and have been acquiring this land since the 1940s. And a large chunk of it, around a 1,000 acres lies in the prime real estate areas of Vikhroli. While Adi heads Godrej Consumer and Godrej Properties, Jamshyd is the chairman and managing director of Godrej and Boyce. The closely held Godrej and Boyce is the owner of most of this land, while Adi’s real estate development company, Godrej Properties pays around 15% of the project revenue to them,<a href="https://economictimes.indiatimes.com/news/company/corporate-trends/godrej-family-may-rework-pacts-after-rift-over-land/articleshow/69966815.cms"> as per an ET report</a>. Now, however, both sides have hired investment bankers and lawyers to re-work family arrangements, in order to make way for Adi’s properties business to turn into the city’s largest real estate developer. Top investment bankers will be a part of tough negotiations to untangle the complicated family pacts. While Jamshyd has hired Nimesh Kampani of J M Financial while Adi and his brother Nadir have hired Uday Kotak the chairman of Kotak Mahindra Bank and Cryril Shroff of Cyril Amarchand and Mangaldas, as per a<a href="https://www.business-standard.com/article/companies/godrej-family-hires-top-law-firms-to-untangle-land-holdings-worth-rs-20k-cr-119062700056_1.html"> report by Business Standard</a>. The Godrej Group was founded by Ardeshir Godrej along with his brother, Pirojsha Godrej in 1987. Pirojsha’s sons formed the second generation as Ardeshir died childless. The third generation consists of Adi, Nadir and Jamshyd.

A 122-year old Indian business family has hired bankers and lawyers to split the land of their fathers

<ul><li>The stock listed at ₹207 as compared to its issue price of ₹230, on debut day.</li><li>Its market capitalisation is at ₹1,989 crore, according to Bombay Stock Exchange. </li></ul>Air conditioner manufacturer <keyword id="20187390" type="General" weightage="20" keywordseo="epack-durable" source="keywords">EPACK Durable</keyword> fell 9.7% below its issue price on debut day on Tuesday. The stock closed at ₹207 as compared to its issue price of ₹230. Its market capitalisation is at ₹2,155 crore according to <keyword id="19895774" type="General" weightage="20" keywordseo="bse" source="keywords">BSE</keyword>. The benchmark indices too traded in the red on Tuesday, as Sensex shed over 800 50 points, and Nifty fell by 205 points. The grey market was expecting 2% listing gains from the stock. “EPACK listing was below our expectations due to market sentiments. We continue to remain positive on the company business model. EPACK holds a strategic long standing relationship position in the growing Indian Refrigeration and Air conditioning (RAC) industry and also extended relationships provide opportunities for cross-selling,” said Prashanth Tapse, senior VP of research at Mehta Equities. He recommends investors to hold on to the stock with a long-term perspective. The ₹640 crore initial public offer (IPO) was subscribed 16 times over the shares on offer. It has mobilized ₹192 crore from anchor investors ahead of its IPO from investors like <keyword id="19936607" type="General" weightage="20" keywordseo="societe-generale" source="keywords">Societe Generale</keyword>, Copthall Mauritius Investment, SBI Life Insurance Company and more. The year of 2023 has been good market debuts with many stocks providing investors with <a href="https://www.businessinsider.in/stock-market/news/ipo-gold-rush-all-but-4-ipos-in-fy24-gave-positive-returns-on-listing/articleshow/104174040.cms">positive listing gains</a>. Here are the listing gains of the last few market debuts <table style="border-width: initial; border-style: none; table-layout: fixed; width: 468pt;" class="redcator-table-advance"></colgroup><tbody><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Company </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Listing gains </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Jyoti CNC` </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">30% </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Innova Captab </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">21% </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Azad Engineering </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">29% </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Doms </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">77% </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Tata Technologies </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">162% </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">IREDA </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">87% </td></tr></tbody><tbody></tbody></table> The issue is a combination of a fresh issue and an offer for sale. It intends to use net proceeds from the fresh issue as capex for new or expansion of manufacturing facilities, loan payment, and general corporate purposes. The company is an outsourced design manufacturer of room air conditioners. Some of its customers include <keyword id="19906109" type="General" weightage="20" keywordseo="voltas" source="keywords">Voltas</keyword>, Blue Star, Daikin, Haier, Godrej and Boyce and more. It is the second biggest original design manufacturer (<keyword id="20382044" type="General" weightage="20" keywordseo="odm" source="keywords">ODM</keyword>) of room air conditioners in India, based on the number of units produced in FY23, as per a Frost &amp; Sullivan report, it says in the DRHP. It has three manufacturing facilities in Dehradun, Uttarakhand; Bhiwadi in Rajasthan; and Sricity in Andhra Pradesh. Apart from indoor units, outdoor units and window air conditioners; it manufactures mixer grinders, water dispensers. Moreover, it aims to expand its portfolios to other consumer goods like hair dryers, kitchen chimneys, domestic air coolers, tower fans and more. “EPACK Durable has a 24% market share in terms of domestically manufactured units by ODM in FY23. The plants are vertically integrated and automated would improve the margins going forward. The increase in wallet share from existing customers through cross-selling and expanding the customer base will increase the business going forward,” said a note by Arihant Capital which gave it a ‘subscribe for long-term’ rating.

EPACK Durable falls 9.7% below its issue price on debut day

Building on its deep-rooted ethos of sustainability, Godrej &amp; Boyce will be unveiling its pioneering initiative, the <a href="https://consciouscollective.in/index.html">'Conscious Collective'</a> platform soon. The platform is a transformative step towards integrating sustainability into design and lifestyle choices. <keyword id="19720945" type="General" weightage="100" keywordseo="Conscious-Collective" source="Orion">Conscious Collective</keyword> strives to usher in an era underscored by design-led innovation – the foundation for which is built on the three pillars of sustainable materials, environment and built spaces. The forthcoming two-day launch event, scheduled for December 9-10, 2023, symbolises a tribute to pioneers and innovators dedicated to reshaping our world into a greener, healthier, and more sustainable habitat for future generations. Here’s what you can expect: <cmsannotation type="cmsannotation" annotationid="Immersive installations" comment="subhead" text="Immersive installations">Immersive installations</cmsannotation> Embark on a visionary journey through innovative sustainability at its finest. Architect Krittika Agarwal redefines urban landscapes by intricately blending Assam's heritage with lightweight timber, bamboo, and lime plaster, counterbalancing the environmental toll of modern materials. Artist Sajid Wajid Shaikh's collaborative endeavour explores the subjective realm of hearing, celebrating the art of listening to foster empathetic communities. Architect Tejas Sidnal's interactive masterpiece invites active participation, igniting conversations about carbon capture technology through creative expression. Meanwhile, <keyword id="4450039" type="General" weightage="80" keywordseo="chhail-khalsa" source="Orion">Chhail Khalsa</keyword>'s immersive installation intricately weaves 'smart textiles' into an abstract urban forest, embedding sensors to emphasise the interplay between design, wellbeing, community, and the environment. Expect an experiential showcase transcending boundaries, highlighting purposeful sustainability and inviting active engagement in shaping a conscious future. <cmsannotation type="cmsannotation" annotationid="Conscious experiences" comment="subhead" text="Conscious experiences">Conscious experiences</cmsannotation> Anticipate an experiential escapade that aims to heighten awareness, and offer profound insights into preservation and holistic wellbeing. The transformative "Gong Bath," led by Sound &amp; Vibration Therapist Bambi Mathur and Sound Therapist Aparna Sundar, promises a rejuvenating journey for the mind, body, and soul. This fosters conscious living through immersive sound therapy. You can also enjoy lively musical performances by Dharavi Reloaded and Sushma Soma. While culinary geniuses Chef Avinash Martins &amp; Chef Harsh Kedia bring in masterclasses and experiential lunches catered to different taste buds and food lovers. <cmsannotation type="cmsannotation" annotationid="Engaging conversations" comment="subhead" text="Engaging conversations">Engaging conversations</cmsannotation> Embark on a journey to reimagine sustainability for a greener and healthier planet by participating in conversations by luminaries across design and architecture. Distinguished figures like architect and urbanist <keyword id="445801" type="General" weightage="80" keywordseo="rahul-mehrotra" source="Orion">Rahul Mehrotra</keyword>, internationally acclaimed innovator Anupama Kundoo, and influential environmentalist <keyword id="264402" type="General" weightage="80" keywordseo="bittu-sahgal" source="Orion">Bittu Sahgal</keyword>, spearhead enlightening panel discussions and deliver keynote speeches. Joining them are celebrated figures such as <keyword id="2368347" type="General" weightage="80" keywordseo="brinda-somaya" source="Orion">Brinda Somaya</keyword>, a passionate architect and conservationist, visionary Cristian Dobrick from West8, and urban planning expert <keyword id="656671" type="General" weightage="80" keywordseo="madhav-pai" source="Orion">Madhav Pai</keyword>, the executive director of WRI India Ross Center for Sustainable Cities. Expect insightful discussions centred on sustainable architecture, futuristic design, and the integration of sustainable materiality, promising an enlightening exchange of ideas and perspectives that inspire transformative action toward a more environmentally conscious and innovative future in the architectural landscape. <cmsannotation type="cmsannotation" annotationid="Interesting workshops" comment="subhead" text="Interesting workshops">Interesting workshops</cmsannotation> The workshops promise an enlightening educational journey with immersive workshops curated for innovation and sustainability. In the "Digital Fabrication" workshop led by the ingenious 3D Wizard, dive into the expansive possibilities of 3D printing, mastering techniques in modelling, scanning, and printing with materials like concrete and LF3D, tailored for diverse sectors. Meanwhile, explore the possibility of turning ordinary scrap materials into extraordinary works of art with a children's art workshop by the Museum of Goa. Moreover, <a href="https://in.bookmyshow.com/events/conscious-collective/ET00376616">entry</a> to the exhibitions and conversations is free, ensuring accessibility for all. Join the Conscious Collective platform in celebrating and advancing a sustainable and conscious future Disclaimer: This article is generated and published by the Insider Studios team. You can get in touch with them on insiderstudios@businessinsider.in

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