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There are budget properties, there are premium properties and then there is the luxury segment. Here no request is loony, no wish nutty. 
 
Today top Indian corporates take home fat pay-cheques of over 1 Crore+ a year. That means they can afford to have an extravagant lifestyle, and it all starts with the homes they live in. In September 2015, <a href="http://www.businessinsider.in/searchresult.cms?query=Kumar+Manglam+Birla">Kumar Manglam Birla</a> bought a sea facing bungalow in Mumbai for a whopping Rs. 425 Crores, making it the largest <keyword id="6354553" type="COMPANY" weightage="40" keywordseo="real-estate">real estate</keyword> deal for a house in Mumbai. 
 
Business Insider India compiles a list of some of India’s most luxurious homes that house out top corporate honchos. 
 
Image credit: Indiatimes

10 Most Luxurious Homes of Indian Corporates

<ul><li>Bangalore, India’s IT capital, is the highest paying city in the country. </li><li>Hyderabad took the second spot for junior level roles with CTC at ₹5 lakhs. But for mid and senior levels, Mumbai is the second highest paying city with ₹15.07 lakhs 33.95 lakhs, respectively. </li><li>It has the highest average CTC at ₹5.27 lakh for junior levels (0-6 years), ₹16.45 lakh at mid level (6-15) and ₹35.45 lakh at senior level. </li></ul>If you want to draw a good salary, it might be a good idea to move to Bangalore. The IT capital offers the best salaries according to the Randstad Insights Salary Trends Report 2019. In the city, a junior employee is paid as an average CTC of ₹5.27 lakh. While mid level employees make ₹16.45 lakh and seniors around ₹35.45 lakh per annum. The city offers the highest pay for all three levels. Hyderabad took the second spot for junior level roles with CTC at ₹5 lakhs. But for mid and senior levels, Mumbai is the second highest paying city with ₹15.07 lakhs 33.95 lakhs, respectively. The next best cities are Pune and NCR. “Against the backdrop of the current economic growth scenario, this report comes as an eye opener for both companies and professionals on building their talent pools and competencies. A period of stasis is the best time to push pause, reset the priorities and build towards future proofing of the organization,”said Paul Dupuis, MD &amp; CEO, Randstad India. In May this year, government data showed that joblessness in the country was 6.1% of total labour force during 2017-18, the highest in 45 years. 
 
 
 
 
 
 
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 IT is the highest paying industry in India There are no surprises when it comes to the best paying industry which is IT. Juniors in the field are paid ₹4.96 lakhs per annum and seniors at ₹35.84 lakhs. “The renewed demand for professionals with digital skills – cloud, product management, analytics, AI and automation – could be the major factors for the sector’s strong showing this year,” said the report. There is a huge demand-supply gap between Artificial Intelligence and Machine Learning experts. As a result, there’s a cut throat competition for people in AI/ML. “Talent with the ‘right-fit’ skills commands a significant premium over their peers and companies are not constrained by bell curves and averages when it comes to the salary structure for professionals with in-demand skills; evidenced by the findings of this report,” said Dupuis. Professional services sector — that includes GST compliance specialists, accountants, management consultants and lawyers — ranked as the second highest paying sector for junior and senior levels, while topping the salaries for mid-level (₹15.3 lakhs) professionals. See also: <a href="https://www.businessinsider.in/careers/news/ai-and-machine-learning-jobs-are-in-demand-but-hiring-is-difficult/articleshow/72879872.cms">Indian CEOs are having a tough time retaining AI, ML, and data science experts</a> <a href="https://www.businessinsider.in/business/news/india-facing-great-slowdown-economy-headed-to-icu-modi-govts-1st-cea-subramanian/articleshow/72868717.cms">India facing 'Great Slowdown', economy headed to ICU: Modi govt's 1st CEA Subramanian</a>

These are the average corporate salaries in top Indian cities

<ul><li>Only 19% of Indian companies have a sufficient budget to have the desired level of cyber security. </li><li>32% organizations believe careless employees are the targets of cyber attacks. </li><li>India has been the target of mass scale data breaches and cyber security attacks.</li></ul>Despite an increase in large-scale cyber attacks, a majority of Indian companies seem unprepared to tackle these challenges, a recent report has warned. One of India’s biggest digitization drive – <a href="https://www.thenewsminute.com/article/india-saw-world-s-largest-online-data-breach-2018-due-lax-cyber-security-wef-95141">Aadhar</a> – became the target of the world’s biggest data breach in the past <a href="https://www.businessinsider.in/here-are-the-most-controversial-data-breaches-of-2018-that-affected-indian-users/articleshow/67148364.cms">year</a>, showing the rising importance of cyber security in India. A World Economic Forum report said that the breach was due to India’s “lax cyber security protocols”. Over the years, India has been a target of mass cyber security attacks like ransomware WannaCry, even then the country’s business organization have not stepped up their game to secure themselves from such attacks. The EY Global Information Security Survey (EY GISS) 2018-19 – India edition released last week said only 19% of Indian companies have a sufficient budget to provide the levels of cybersecurity and resilience as required even though said 70% said they plan to increase the budgets soon. Moreover, the report also said that 32% of Indian organizations see careless/unaware employees as the biggest vulnerability to cyber security risks. It also said that 56% of the organizations consider cyber security as an integral part of their strategy and plans, however there is a shortage of required skills or talent in India to tackle cyber security challenges. Given India’s fast-growing affinity towards technology and its services, it is important that the country’s businesses take more active steps towards cyber security. “As we accelerate towards becoming a trillion-dollar digital economy, building the right framework for cyber resilience and security is critical for the country. The government on its part has taken a number of initiatives in this direction; however, the involvement of each citizen and all organizations to make it a collective and coordinated movement is must for the success of the cyber secure eco system,” said Dr. Gulshan Rai, cyber-security chief with the Indian government. India currently ranks 15th in a list of the world’s least secure countries with respect to cyber security, according to a <a href="https://www.indiatoday.in/india/story/india-cybersecurity-privacy-data-breach-crypto-hackers-aadhaar-1450572-2019-02-07">study</a> conducted by security portal Comparitech. See Also: <a href="https://www.businessinsider.in/here-are-the-most-controversial-data-breaches-of-2018-that-affected-indian-users/articleshow/67148364.cms">Here are the most controversial data breaches of 2018 that affected Indian users</a> <a href="https://www.businessinsider.in/indias-armed-forces-are-setting-up-a-dedicated-agency-to-fight-cyber-attacks/articleshow/67542126.cms">India's armed forces are setting up a dedicated agency to fight cyber attacks</a> <a href="https://www.businessinsider.in/over-15700-indian-websites-have-been-hacked-so-far-in-2018-which-is-nearly-half-the-number-of-hacks-that-happened-last-year/articleshow/67075038.cms">India has seen 15,700 website hacks so far in 2018, nearly half the number from last year: report</a>

A majority of Indian corporates are unprepared for cyber security challenges: Report

New Delhi, Mar 3 () Indian Railway Finance Corporation (IRFC) has got markets regulator Sebi's approval for its initial public offer (IPO). The IPO comprises fresh issue of 93.8 crore equity shares and an offer for sale of 46.9 crore equity shares by the Government of India. The observation letter was issued on February 25, 2020, according to an update on the regulator's website. The Securities and Exchange Board of India's (Sebi) observations are necessary for any company to launch public issues such as IPO, follow-on public offer and rights issue. The net proceeds are proposed to be utilised towards augmenting the company's equity capital base to meet future capital requirements arising out of growth in business and general corporate purposes, according to draft red herring prospectus (DRHP). IDFC Securities, HSBC Securities and Capital Markets, ICICI Securities and SBI Capital Markets are managing the offer. The company's equity shares are proposed to be listed on BSE and NSE. The firm is the dedicated market borrowing arm of Indian Railways, and its primary business is financing the acquisition of rolling stock assets, as per information available in the DRHP. SUM RVK

Indian Railway Finance Corporation gets Sebi nod for IPO

<ul><li>Tata is the most valued company in India at $19.6 billion according to Brand Finance.</li><li>LIC, Infosys, SBI and Mahindra Group also made it into the top 10 list.</li><li>The only company showing a drop in value among the top is Airtel which depreciated by 28.1% coming down by 2nd position to 7th position.</li></ul>Brand Finance, an independent brand valuation consultancy, took 5,000 companies in India and ranked them according to their brand value. And to no one's surprise, <a href="https://www.businessinsider.in/tata-leads-the-top-corporate-brands-of-india-while-anil-ambani-loses-28-ranks/articleshow/70247395.cms">Tata Group continues to rule the roost with a value of $19.6 billion.</a> A company’s brand value is the net economic benefit that the owner would gain by selling the brand in open market. This year, Indian banks and global IT service providers dominated the list of the top 10 most valued brands in India. Here’s a quick look at the 10 biggest corporate brands in the country:

Tata, LIC, Infosys, SBI, and Mahindra are among the top 10 Indian corporate brands

<ul><li>The credit ratio is in line with the positive credit quality outlook <keyword id="6359483" type="General" weightage="20" keywordseo="crisil" source="Orion">CRISIL</keyword> Ratings had articulated earlier. </li><li>Credit ratings on nearly 80 per cent of the CRISIL Ratings portfolio was reaffirmed. </li><li>The performance of upgraded companies improved significantly over the past three fiscals, despite the pandemic. </li></ul> Debt light balance sheets, domestic demand and better cash flows has resulted in higher credit ratio during the first half of FY23, said CRISIL Ratings. According to CRISIL Ratings the corporate credit ratio (upgrades vs downgrades) continues to be high -- at 5.52 times in the first half of this fiscal (H1-FY23) - underscoring ongoing broad-based improvement in India Inc's credit quality. The credit ratio was 5.04 times in the second half of the last fiscal (H2-FY22). Three reasons stand out: 1) strengthening domestic demand, with the economy expected to grow 7.3 % this fiscal; 2) higher realisations leading to better cash flows; and 3) continuation of debt-light balance sheets as capex remains low, CRISIL Ratings said. The credit ratio is in line with the positive credit quality outlook CRISIL Ratings had articulated earlier - that upgrades will far outnumber downgrades through this fiscal. Credit ratings on nearly 80 % of the CRISIL Ratings portfolio was reaffirmed, or there was no change during H1-FY23. For the rest of the portfolio, what has changed is the upgrade rate, which increased to 16.70 %, while the downgrade rate was flattish at 3.02 %. In all, there were 569 upgrades and 103 downgrades. According to the credit rating agency, the performance of upgraded companies improved significantly over the past three fiscals despite severe pandemic-related disruptions. "Around 35 % of all upgrades were from the infrastructure sector (including large realty players). Infrastructure sector is in a unique position of largely being a domestic story and generally decoupled from the global headwinds. Here, upgrades were driven by improved operating cash flows, completion of crucial project milestones and equity infusion. Over the last few years increasing share of central counterparties in infra projects has led to more predictable payment cycles providing additional comfort to credit quality," said <keyword id="909587" type="General" weightage="80" keywordseo="gurpreet-chhatwal" source="Orion">Gurpreet Chhatwal</keyword>, Managing Director. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/stock-market/news/markets-fall-in-early-trade-on-weak-global-trends-fii-outflows/articleshow/94612214.cms">Markets fall in early trade on weak global trends, FII outflows</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/finance/news/rupee-falls-38-paise-to-81-78-against-us-dollar/articleshow/94611224.cms">Rupee falls 38 paise to 81.78 against US dollar</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/news/the-e-auction-closing-date-of-1200-gifts-given-to-pm-modi-extended/articleshow/94610736.cms">The e-auction closing date of 1,200 gifts given to PM Modi, extended</a>

Indian corporate credit quality remains strong in H1 of FY23: CRISIL

By Yoshita Singh United Nations, May 19 () Four Indian corporations are among over 150 global companies that have signed a statement urging governments around the world to align their COVID-19 economic aid and recovery efforts with the latest climate science that prioritises a faster and fairer transition from a grey to a green economy.Dalmia Cement (Bharat) Chief Executive Officer Mahendra Singhi, Polygenta Technologies Chief Marketing Officer Makarand Kulkarni, Tech Mahindra Chief Executive Officer C P Gurnani and Wipro's Chief Executive Officer Abidali Neemuchwala are the signatories to the statement, along with top executives hailing from 34 sectors across 33 countries.The other signatories include global pharma giant Novartis headed by Vas Narasimhan and Adobe, led by Shantanu Narayen, AstraZeneca, Burberry, Capgemini, Colgate Palmolive, Hewlett Packard Enterprise, Nestlé, Sanofi and Unilever. The statement is the largest ever UN-backed CEO-led climate advocacy effort and has signatories from 155 companies with a combined market capitalisation of over USD 2.4 trillion and representing over five million employees."As countries work on economic aid and recovery packages in response to COVID-19, and as they prepare to submit enhanced national climate plans under the Paris Agreement, we are calling on Governments to reimagine a better future grounded in bold climate action," the joint statement said.Noting that the corporations remain committed to do their part to achieve a resilient, zero carbon economy, the top executives urged governments "to prioritise a faster and fairer transition from a grey to a green economy by aligning policies and recovery plans with the latest climate science.""We must move beyond business-as-usual and work together in solidarity to deliver the greatest impact for people, prosperity and the planet," they said adding that in order to recover better from COVID-19, the corporations will continue to demonstrate that the best decisions and actions are grounded in science, invest in recovery and resilience for a systemic socio-economic transformation and work with governments and scale up the movement."If we work together, these efforts will help reduce vulnerability to future shocks and disasters, and build community resilience. A systemic shift to a zero-carbon and resilient economy is within our reach - our only future depends on making this vision a reality," the statement said.UN Secretary-General António Guterres welcomed the ambitious, science-based actions from leading companies who are demonstrating to policy-makers that green growth remains the best growth strategy."Saving lives and livelihoods, and building a prosperous, inclusive and sustainable future, are at the heart of our efforts to recover from COVID-19. We can beat the virus, address climate change and create new jobs through actions that move us from the grey to green economy.Many companies are showing us that it is indeed possible and profitable, to adopt sustainable, emission-reducing plans even during difficult times like this."The statement comes as governments around the world are preparing trillions of dollars worth of stimulus packages to help economies recover from the impacts of the coronavirus pandemic, and as they prepare to submit enhanced national climate plans under the Paris Agreement.In the coming weeks, several major economies will take key decisions in their recovery efforts, including the European Union Recovery Plan, new stimulus packages from the United States of America and India, and the G7 Heads of State summit in June.The business voices are convened by the Science Based Targets initiative (SBTi) and its Business Ambition for 1.5°C campaign partners, the UN Global Compact and the We Mean Business coalition.The SBTi, which is a collaboration between CDP, the UN Global Compact, World Resources Institute and WWF, independently assesses and validates corporate climate targets against the latest climate science.A joint press release by the Science Based Targets initiative, the UN Global Compact, and the We Mean Business coalition said the 155 companies have already set, or committed to set, science-based emissions reduction targets.By signing the statement, they are reaffirming that their own decisions and actions remain grounded in science, while calling on governments to "prioritise a faster and fairer transition from a grey to a green economy." Policy and spending that incorporates climate targets will reduce vulnerability to future shocks and disasters, create good jobs, reduce emissions and ensure clean air, according to a study from Oxford University. YAS RUP

Four Indian corporations among companies urging world leaders for net-zero recovery from COVID-19

<ul><li>IOC is inviting applications from eligible candidates for its technical and non-technical apprenticeship programme for their offices in southern Indian states.</li><li>The last date to apply for the opportunity is 5 p.m., on December 27, 2021.</li><li>Checkout the latest news and updates on <a href="https://www.businessinsider.in/">Business Insider</a>.</li></ul><keyword id="6356834" type="General" weightage="20" keywordseo="Indian-Oil-Corporation" source="Orion">Indian Oil Corporation</keyword> (IOCL) is inviting applications from eligible candidates for its technical and non-technical apprenticeship programme for their offices in southern Indian states — Tamil Nadu, Puducherry, Karnataka, Kerala, Andhra Pradesh, and Telangana. The last date to apply for the opportunity is 5 p.m., on December 27, 2021. Interested candidates can apply online on their official <a href="https://ioclsrmd.onlinereg.in/kali1121reg/Home.aspx">website</a>. <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;">States </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;">No. of vacancies </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;">TamilNadu and Puducherry </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;">84 </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;">Karnataka </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;">52 </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;">Kerala </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;">49 </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;">Andhra Pradesh </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;">55 </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;">Telangana </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;">60 </td></tr></tbody><tbody></tbody><tbody></tbody><tbody></tbody><tbody></tbody><tbody></tbody></table> Eligibility criteria for the apprenticeship role <ol><li>For trade apprentice</li></ol><ul><li>Fitter: Grade 10 plus two years of industrial training institute’s (ITI) fitter course.</li><li>Electrician: Class 10 plus two years of ITI electrician course.</li><li>Electronic Mechanic: Class 10 plus two years of ITI electronic mechanic course.</li><li>Instrument Mechanic: Class 10 plus two years of ITI instrument mechanic course.</li><li>Machinist: Class 10 plus two years of ITI instrument mechanic course.</li><li>Accountant: Graduate in any discipline with minimum 50% aggregate marks from a recognised institute/university.</li><li>Data Entry Operator (Fresher): Minimum 12th pass, but below graduate.</li><li>Data Entry Operator (Skilled Certificate Holders): Minimum 12th pass, but below graduate. Candidates should possess a skill certificate of ‘domestic data entry operator’ for training of less than one year issued by an awarding body recognised under National Skill Qualifications Framework or any other authority recognised by the central government.</li><li>Retail Sales Associate (Fresher): Minimum 12th pass but below graduate.</li><li>Retail Sales Associate (skilled certificate holders): Minimum 12th pass (but below graduate). Additionally, candidates should possess a skill certificate of ‘retail trainee associate’ for training of less than one year issued by an awarding body recognised under National Skill Qualifications Framework or any other authority recognised by the central government.</li></ul>2. For Technician apprentice<ul><li>Technician apprentice (Mechanical): 3 year-diploma in mechanical engineering with minimum 50% marks from any recognised university/institute.</li><li>Electrical: 3 years’ diploma in electrical engineering with minimum 50% marks from any recognised university/institute.</li><li>Instrumentation: 3 years’ diploma in instrumentation engineering with minimum 50% marks from any recognised university/institute.</li><li>Civil: 3 years’ diploma in civil engineering with minimum 50% marks from any recognised university/institute.</li><li>Electrical and electronics: 3 years diploma in electrical &amp; electronics engineering with minimum 50% marks from any recognised university/institute.</li><li>Electronic: 3 years’ diploma in electronics engineering with minimum 50% marks from any recognised university/institute.</li></ul>3. Applicants who have completed three years after acquiring the prescribed qualification for engagement of technician apprenticeship i.e., diploma in engineering in relevant disciplines are not eligible for engagement as technician apprentice. 4. Candidates with qualification acquired through distance learning mode or part time mode or correspondence mode will not be considered. 5. Candidates possessing higher professional qualifications such as Bachelor of Engineering (B.E)/Master of Business Administration (MBA)/Master of Computer Application (MCA)/Chartered Accountant (CA)/Institute of Cost and Works Accountants (ICWA)/Bachelor of Legislative Law or Legum Baccalaureus (LLB) will not be considered. 6. Minimum age is 18 years and maximum age criteria is 24 years, as on November 30, 2021. Selection procedure The selection shall be on the basis of performance of the candidates on the basis of marks obtained by them in the written test and meeting the eligibility criteria. The written test will be conducted on January 9, 2022, in a multiple choice format (MCQs). Interested candidates can seek more information <a href="https://iocl.com/admin/img/Apprenticeships/Files/5e2a63d05ddd4450b45e90e4c7d31c65.pdf">here</a>. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/careers/news/sbi-is-hiring-1200-circle-based-officers-across-india-with-a-minimum-pay-of-36000-per-month/articleshow/88313666.cms">SBI is hiring 1200 circle based officers across India with a minimum pay of ₹36,000 per month</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/international/news/michelle-obama-is-the-most-admired-woman-in-the-world/slidelist/88302252.cms">Michelle Obama is the most admired woman in the world</a>

Indian Oil Corporation is hiring 300 apprentices across southern states of India

Indian Oil Corporation Limited (IOCL) is inviting applications for its apprenticeship programme

Country's largest public sector refiner <keyword id="6356834" type="DOMAIN" weightage="20" keywordseo="indian-oil-corporation">Indian Oil Corporation</keyword> (<keyword id="6354733" type="DOMAIN" weightage="20" keywordseo="ioc">IOC</keyword>) plans to hive off <keyword id="169046" type="COMPANY" weightage="20" keywordseo="hydrogen">hydrogen</keyword> producing units and sulphur recovery facilities at its refineries to a separate entity and then sell stakes in it to the private sector to raise close to ₹10,000 crore. The plan is in line with <keyword id="26362" type="ORGANIZATION" weightage="20" keywordseo="Government">government</keyword>'s asset monetisation programme where it wants PSUs to identify non-core assets that could be sold to raise resources for next wave of investments. Government sources said that IOC is one of the largest hydrogen producers in the country and some of these assets could be allowed to be shared with the private sector that is also looking at getting into hydrogen production realising its vast uses. Sources said IOC had proposed monetising some of its hydrogen producing units in lieu of its product pipelines which the government wants the company to monetise. Government expects <keyword id="6354412" type="DOMAIN" weightage="20" keywordseo="indian-oil">Indian Oil</keyword>, GAIL and <keyword id="6374014" type="DOMAIN" weightage="20" keywordseo="hindustan-petroleum">Hindustan Petroleum</keyword> to raise Rs 17,000 crore by selling stakes in their pipelines through the infrastructure <keyword id="2948615" type="DOMAIN" weightage="20" keywordseo="Investment-trust">investment trust</keyword> route in the next financial year. IOC, however, wants to retain its pipping operations and has proposes direct monetising hydrogen units instead. <keyword id="34539" type="COMPANY" weightage="20" keywordseo="oil-industry">Oil Industry</keyword> sources said that the PSUs proposal is being examined and a decision would be taken soon. SEE ALSO: <a href="https://www.businessinsider.in/careers/news/check-out-all-the-hiring-opportunities-in-2021-in-india/slidelist/81343839.cms">A whole host of jobs, from government to private to foreign companies in India, are opening up ⁠— here’s a look at some of those</a> <a href="https://www.businessinsider.in/business/startups/news/these-are-the-worlds-top-food-delivery-companies-indias-zomato-and-swiggy-have-a-long-way-to-go-as-compared-to-their-global-counterparts-like-doordash-or-meituan/slidelist/81344728.cms">These are the world’s top food delivery companies – India’s Zomato and Swiggy have a long way to go as compared to their global counterparts like DoorDash or Meituan</a> <a href="https://www.businessinsider.in/stock-market/news/wipro-share-price-has-outperformed-its-peers-in-the-last-one-year-but-analysts-are-still-cautious-about-giving-it-a-buy-rating/articleshow/81345564.cms">Wipro's share price has outperformed its peers in the last year — but analysts are still cautious about giving it a 'buy' rating</a>

Indian Oil Corporation may monetise hydrogen units to raise ₹10,000 crore

<ul><li><keyword id="3119261" type="PERSON" weightage="20" keywordseo="IvyCamp">Ivycamp</keyword>, the incubation arm of Ivycap ventures, has 5000 IIT/IIM alumni on board and 4000 <keyword id="6362513" type="UNKNOWN" weightage="20" keywordseo="startups">startups</keyword>. </li><li>They are working with corporates to help them find the right startups to work with. </li><li>Ivycamp has worked with the likes of Airbus, Yes Bank, HDFC Bank, Sonata and more.</li></ul>In India, the startup craze was led by the graduates of IITs and IIMs. Investors too got on a call with you easier to speak funding if you were an IIT or IIM alum. Even today, stories of IIT graduates building a new startup are quite common. And this became the premise of IvyCamp, a platform from Ivycap ventures which helps startups connect with investors and corporates, leveraging the IIT, IIM alumni network. Vikram Gupta and Anju Gupta, friends from IIT Delhi, once got talking about the effective alumni networks abroad especially in the Bay Area. They launched IvyCap ventures in 2011 with an aim to be driven by IIT alumni and one of its key investors too was the IIT alumni trust. In 2014, IvyCamp was launched which served as a platform to connect alumni, startup founders and corporates for investments, mentorship and partnership. “A lot of the alumni were approaching us as to how they could be more involved in the Indian startup ecosystem. We wanted to create an engagement platform that could leverage this vast alumni network,” said Gupta. Today, they have 5000 alums on board, 4000 startups and a global mentor and investor network. Two years ago, they started working with corporates. “Airbus approached us to work with them for their accelerator because we had the domain expertise to evaluate startups,” said Gupta. And that became another goldmine of projects, for corporates lined up for more and more accelerator programs and associations. IvyCamp recently partnered with HDFC Life to launch a program called Futurance, to create business opportunities in insurance. Over the years, the perspective of both startups and corporates have changed. Gupta said that startups have evolved and are no longer restricting their interests with investors and VC funds. They are now more eager to work with corporates to get the brand name, domain expertise and access to customers. On the other side, corporates too face many problems. “They have an R&amp;D arm but it doesn’t work as fast as the startup. They are realising that there is no readymade fixed solutions to the challenges and they will have to work with startups to get tailormade solutions,” said Gupta.

This IIT and IIM alumni-backed fund is now pushing corporates to invest in and mentor Indian startups

<keyword id="108191" type="COMPANY" weightage="20" keywordseo="Indian-Railway-Finance-Corporation">Indian Railway Finance Corporation</keyword> (<keyword id="153053" type="COMPANY" weightage="20" keywordseo="IRFC">IRFC</keyword>) initial public offering of about Rs 4,600 crore may hit the markets later this month, a first by a non-banking financial company (NBFC) in the public sector. "In all probability it (IPO) will be by the third week but, if the market is not okay then we can go to the first or second week of January also," Amitabh Banerjee, Chairman and Managing Director, IRFC, told here. The company, the dedicated financing arm of <keyword id="1204894" type="LOCATION" weightage="20" keywordseo="The-Indian-railways">the Indian Railways</keyword>, will be going for the anchor investment also. "The government is planning to have anchor investors in place for this IPO," he added. In January 2020, IRFC filed draft papers for its IPO. According to market sources, the IPO is likely to be worth around Rs 4,600 crore. On reasons for bringing the anchor portion, the CMD added that it is a confident market and the anchor investors would be assured of the fact that they will be able to get the desired proportion of issuance without regular bidding. "They will be able to get the amount that they want to invest in IRFC without going for the bidding route. Also, it will give a lot of confidence to other investors in the market who are sitting on the fence," he said. The issue is of up to 178.20 crore shares, comprising a fresh issue of up to 118.80 crore shares and offer for sale of up to 59.40 crore shares by the government, according to the draft prospectus. "We are the first NBFC in the PSU sector that is going public for the first time and we shall be paving the way for others," he added. On plans to utilise the funds mopped up from the offer, he added that 10 per cent of the issuance will go to the company's balance sheet and that will increase its net worth and this the firm will be using for raising more money from the market. He further said that this will add to the company's capability to explore the market further and garner more funds from the market which is the order of the day because the government is in need of funds for its capex expansion outlay requirements. "Therefore 10 per cent will come to my balance sheet and 5 per cent will go to the government of India's exchequer," he added. Banerjee said the prospect for having a good IPO is "very much bright". "Everyone (domestic and foreign investors) has a lot of interest in this particular issue. We are extremely hopeful that it will hit the market with a bang," he said. Banerjee said COVID-19 has now come as a "blessing in disguise for us" as the market is flushed with funds and investors are looking to invest in safe havens. "Indian Railway Finance Corporation happens to be one of the safest havens as far as investors are concerned," he added. Banerjee is hopeful that the IPO will be one of the landmark issuances of the fiscal. "I hope that it will be one of the landmark issuances in this fiscal which augurs well for the other issuances that are coming forward for the government of India in this fiscal," the CMD said. The book running lead managers to the issue are DAM Capital Advisors, HSBC Securities and Capital Markets, ICICI Securities and SBI Capital Markets. Asked about the purpose of this IPO, he said, one of the purposes is to unlock the value that the company has built over so many years of its existence. "We have already traversed a period of 34 years since its inception in 1986. So, it will unlock the value of the company, it will bring in better corporate governance norms in the organisation which is extremely necessary in any public sector company. That will bring in more transparency in the working of the company," he said. The company's principal business is to borrow funds from the financial markets to finance acquisition/creation of assets which are then leased out to the <keyword id="6355455" type="COMPANY" weightage="20" keywordseo="indian-railways">Indian Railways</keyword>. The Union Cabinet had in April 2017 approved listing of five railway companies. Four of them -- IRCON International Ltd, RITES Ltd, <keyword id="185930" type="COMPANY" weightage="20" keywordseo="Rail-Vikas-Nigam-Ltd">Rail Vikas Nigam Ltd</keyword> and Indian Railway Catering and Tourism Corp -- have already been listed. SEE ALSO: <a href="https://www.businessinsider.in/science/health/news/oxford-covid-19-vaccine-serum-institute-seeks-emergency-use-nod-for-covishield-vaccine-in-india/articleshow/79600349.cms" data-type="tilCustomLink">Oxford COVID-19 vaccine: Serum Institute seeks emergency use nod for Covishield vaccine in India</a> <a href="https://www.businessinsider.in/india/news/section-144-extended-across-noida-and-greater-noida-till-january-2/articleshow/79600323.cms" data-type="tilCustomLink">Section 144 extended across Noida and Greater Noida till January 2</a>

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