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<ul><li><keyword id="6354427" type="General" weightage="100" keywordseo="apple" source="Orion">Apple</keyword> opened its first retail store in India in Mumbai on April 17. </li><li>The store has over 100 team members who speak over 20 languages. </li><li>The store is operationally carbon neutral, running on 100% renewable energy.</li><li>The <keyword id="11919569" type="General" weightage="20" keywordseo="apple-store" source="Orion">Apple store</keyword> in the Ambani-owned Reliance Jio World Drive Mall, BKC in Mumbai, will open for customers from Tuesday. </li></ul>Apple has opened its first retail store in India – in Mumbai, with a dynamic space for customers to explore Apple’s products and services. The company opened the doors of the 20,000 sq ft-store, while playing the Bollywood song ‘Yeh Hai Bambai Nagaria’ in the background. The Apple team was enthusiastically clapping and hooting as the doors of the massive glass facade building were opened. The store in the Ambani-owned Reliance Jio World Drive Mall, Bandra Kurla Complex in Mumbai, will open for customers from Tuesday. <div type="image" title="Add a subheading (43)" msid="99556471" hostid="261" sizebytes="2143391"></div> <cmsannotation type="cmsannotation" annotationid="100 team members who speak over 20 languages" comment="subhead" text="100 team members who speak over 20 languages">100 team members who speak over 20 languages</cmsannotation> The store boasts of 100 team members who speak over 20 languages, and trained to assist customers with the products and unique features. The ground floor of the store has all the devices -- iPhone, Mac, iPad, AirPods, Apple Watch, and Apple TV lineups, as well as accessories like AirTag lined up. The first floor is designed as a service centre to resolve customer grievances related to the products. The tech giant founded by Steve Jobs claims that the Mumbai store in BKC is one of its most sustainable stores. It is designed to be one of the world's most energy-efficient Apple Store locations. This comes as Apple celebrates more than 25 years in India. “India has such a beautiful culture and an incredible energy, and we’re excited to build on our long-standing history — supporting our customers, investing in local communities, and working together to build a better future with innovations that serve humanity,” said Tim Cook, Apple’s CEO. <div type="image" title="Add a subheading (44)" msid="99556487" hostid="261" sizebytes="1454050"></div> <cmsannotation type="cmsannotation" annotationid="Operationally carbon neutral" comment="subhead" text="Operationally carbon neutral">Operationally carbon neutral</cmsannotation> The Mumbai store has a dedicated solar array and zero reliance on fossil fuels for store operations. The store is operationally carbon neutral, running on 100% renewable energy. <a href="https://www.moneycontrol.com/news/business/real-estate/apple-rents-retail-space-in-mumbai-for-a-minimum-guaranteed-payment-of-rs-42-lakh-per-month-10375381.html/amp">Reports say that Apple will pay </a>roughly ₹42 lakh per month for the retail store in Mumbai. Apple BKC features a triangular handcrafted timber ceiling that extends beyond the glass façade to the underside of the exterior canopy, reflecting the unique geometry of the store. Each tile is made from 408 pieces of timber, forming 31 modules per tile with 1,000 tiles that make up the ceiling. Upon entering the store, customers are greeted by two stone walls sourced from Rajasthan and a 14-meter-long stainless steel staircase connecting the ground level and the cantilevered mezzanine. The specialist team is skilled in Apple products to help customers learn about products, different ways to pay and how to switch to iOS. <div type="image" title="Add a subheading (45)" msid="99556589" hostid="261" sizebytes="2032030"></div> The store will offer a special ‘Today at Apple’ series -- “Mumbai Rising,” running from Tuesday, April 18 through the summer featuring local artists and creatives, with a team of over 100 ready to aid customers. ‘Today at Apple’ is a creative initiative offered online and in Apple's retail stores worldwide, offering free educational sessions on features of Apple products. “At Apple, our customers are at the center of everything we do, and our teams are excited to celebrate this wonderful moment with them as we open our first retail store in India,” said Deirdre O’Brien, Apple’s senior vice president of Retail. “Apple BKC is a reflection of Mumbai’s vibrant culture and brings together the best of Apple in a beautiful, welcoming space for connection and community,” she added. Apple began manufacturing iPhones in India in 2017, and since then, the company has worked with suppliers to assemble iPhone models and produce a growing number of components.

A sneak peek into India's first Apple store in Mumbai's BKC

<a href="http://www.businessinsider.in/searchresult.cms?query=Social+networking&amp;sortorder=effectivedate">Social networking</a> giant <a href="http://www.businessinsider.in/searchresult.cms?query=Facebook&amp;sortorder=effectivedate">Facebook</a> had last year leased a 22,000 square feet office in <keyword id="102951" type="UNKNOWN" weightage="100" keywordseo="Bandra-Kurla-Complex">Bandra Kurla Complex</keyword>, Mumbai’s prime commercial business district for its India corporate office. 
 
Fast forward a year later and that very office is now ready. 
 Located on the seventh floor of the <keyword id="3381278" type="UNKNOWN" weightage="100" keywordseo="One-BKC-Building">One BKC Building</keyword>, a commercial tower controlled by Radius developers, this office will serve as <a href="http://www.businessinsider.in/searchresult.cms?query=Facebook&amp;sortorder=effectivedate">Facebook</a>’s permanent base in India. 
 
Not only will the <a href="http://www.businessinsider.in/searchresult.cms?query=Facebook&amp;sortorder=effectivedate">Facebook</a> India leadership operate out of here, but also its sales and marketing teams. Since the last two years, <keyword id="6354576" type="CITY" weightage="100" keywordseo="Facebook">Facebook</keyword> India was temporarily operating out of a business centre in Bandra Kurla Complex. 
 
As it happened, the <a href="http://www.businessinsider.in/searchresult.cms?query=Facebook&amp;sortorder=effectivedate">Facebook</a> team moved into their new office just yesterday and let Business Insider have a look inside. 
 
 
 
 
Ofcourse, there’s a mandatory Facebook wall at the entry and the whole office has an unfinished warehouse look which is part of the perpetually-work-in-progress theme that Facebook uses for its offices around the world. 
 
Moreover, the Instabooth is a cute addition to the whole decor of Facebook's new Mumbai office. The company brought in a local artist for all the murals that can be seen inside the office. 
 
The whole office boasts of an open area seating, with standing desks in plenty. The idea is to break the barriers that closed cabins come with and encourage creativity and productivity with informal seating. 
 
The office also offers the employees a gym allowance to promote a healthy lifestyle and also funds clubs if people are interested in a certain activity, such as reading or football. Additionally, the office cafe will not only whip up local Indian dishes but also healthy fare. 
 
 
 
P.S: This is not Facebook’s first office in the country. Their first office was in Hyderabad.

PHOTOS: Inside Facebook's gorgeous new Mumbai office

The Debt Recovery Tribunal-I here has put up a <keyword id="70990" type="General" weightage="20" keywordseo="solar-power" source="Orion">solar power</keyword> plant belonging to a group entity of the absconder diamantaire Nirav D. Modi to try and recover a tiny portion of the whopping <keyword id="59005" type="General" weightage="20" keywordseo="dues" source="Orion">dues</keyword> of over Rs 2,348-crore. The solar power plant, with a capacity of 5.247MW is situated at Khandale village in Karjat Taluka of Maharashtra's Ahmednagar district, and along with the plant and machinery, the solar plant is valued at Rs 12.40-crore. The <keyword id="1639" type="General" weightage="20" keywordseo="auction" source="Orion">auction</keyword> ordered by the DRT-I Recovery Officer Ajeet Tripathi on September 21 makes no mention of the revenues assessed on the property, whether it has any encumbrances or faces any claims, or any other details. Besides, also going under the hammer for at least the third time is Nirav D. Modi's posh flat in the fashionable Pedder Road area of south Mumbai. The flat is on the second floor of Grosvenor Building, and proposed to be auctioned off as a fully furnished residence along with two parking lots, all collectively valued at Rs 11.70-crore. In addition, the DRT-I plans to auction off two large land-parcels belonging to Nirav D. Modi and his group company, Firestone Trading Pvt. Ltd. The plots are situated at different locations in Khandale Village, Karjat Taluka of Ahmednagar district, and one of the properties also houses the (aforementioned) solar power plant on it, which is being auctioned off separately. As far as encumbrances are concerned, both these land parcels are currently mortgaged with the Union Bank of India, presumably in lieu of the loans it had extended to the diamantaire and his group companies. The online auction shall be held on October 25 between 2-4 p.m. only, for all the listed assets, as per the DRT-I's notification, andthese properties shall be auctioned off on 'as is where is' and 'as is what is' basis. The Certificate Debtors named are: Nirav D. Modi of Grosvenor House; Bentley Properties Pvt. Ltd, MAK Business Enterprises Pvt. Ltd, ANM Enterprises Pvt. Ltd, NDM Enterprises Pvt Ltd, Neeshal Trading Pvt Ltd -- all having a common registered address as: 15 Nagindas Mansion, 57/61 Jagannath Shankarsheth Road, Opera House, Mumbai - 400004. The other entities figuring in the list are: Firestone Trading Pvt. Ltd, Paundra Enterprises Pvt Ltd, and Radashir Jewelery Co. Ltd - all with a single registered address as: AE-4050, A Tower, East Wing, G Block, Bharat Diamond Bourse, BKC, Bandra East, Mumbai - 400051. Billed as the biggest <keyword id="511750" type="General" weightage="20" keywordseo="banking-fraud" source="Orion">banking fraud</keyword> in recent Indian history, the PNB first admitted to the Rs 14,400-crore plus scam in January 2018, after which probe agencies, including the Central Bureau of Investigation (CBI) and Enforcement Directorate (ED) launched their investigations. The prime accused were the 'mama-bhanja' duo -- Mehul C. Choksi and his nephew Nirav D. Modi -- plus their family members, business associates and entities, bank officials and others. The banks, individually and as consortiums, have been desperately attempting to recover their dues, by auctioning off vehicles, expensive artefacts, paintings, Nirav C. Modi's huge seaside bungalow 'Roopanya' in Alibaug (Raigad) was demolished in March 2019, and efforts on to auction off various properties-assets seized from the 'mama-bhanja' tricksters. However, long before the scam exploded on the Indian banking industry and sparked a nationwide furore, many of the accused had sneaked out of the country and Nirav D. Modi is currently in London and Mehul C. Choksi is in the tiny nation of Antigua &amp; Barbuda Isles in the Caribbean region, and efforts are on to get them extradited to India.

Nirav Modi's solar power plant up for auction to salvage PNB dues

<ul class="summary-list"><li>Apple's first retail store in India, which opened its doors on Tuesday in Mumbai, spans 20,000 square feet.</li><li>The store employs more than 100 employees who can collectively speak 20 languages.</li></ul>Apple's first retail store in India opened its doors to the public on Tuesday — in the country's financial and entertainment capital Mumbai — as the tech giant looks to India as a new consumer market and a manufacturing base. The 20,000-square-foot store features Apple's signature minimalist glass facade and a handcrafted ceiling made out of 408 pieces of timber, per a <a href="https://affiliate.insider.com?h=6b8714078b8efc079add8cdac467c2832833506c6bb3cbd3b9546a5d149b6ee6&amp;postID=643e33ed2001442f7f445ad6&amp;site=bi&amp;u=https%3A%2F%2Fwww.apple.com%2Fnewsroom%2F2023%2F04%2Fapple-bkc-in-mumbai-opens-for-customers-this-tuesday%2F" target="_blank" rel="noopener">news release</a> by the company on Sunday. <div type="image" title="The Apple store in Mumbai features a timber ceiling." height="723" width="964" msid="99580685" hostid="261" sizebytes="119292"></div>The store is located within the Bandra Kurla Complex, a facility owned by Indian business tycoon Mukesh Ambani's conglomerate Reliance Industries.<div type="image" title="The interior of Mumbai's Apple store." height="1619" width="2160" msid="99580686" hostid="261" sizebytes="599874"></div>Apple said in the Sunday release that the store is also "one of its most energy-efficient" locations worldwide, running entirely on renewable energy. <div type="image" title="Apple's Mumbai store has dedicated solar panels which eliminate its reliance on fossil fuels." height="1096" width="1462" msid="99580687" hostid="261" sizebytes="230854"></div>The store employs more than 100 staff who can collectively speak over 20 languages, Apple's release stated. Cook posted a tweet on Monday with employees of the store clad in green clothing. The <a href="https://twitter.com/tim_cook/status/1647939691751313408" target="_blank" rel="noopener">tweet</a> read: "Hello, Mumbai! We can't wait to welcome our customers to the new Apple BKC tomorrow." <a href="https://twitter.com/tim_cook/status/1647939691751313408/photo/1" target="_blank" rel="noopener"></a>He also enjoyed his <a href="https://www.cnbc.com/2016/05/19/here-are-the-challenges-apples-tim-cook-faces-on-his-india-trip.html" target="_blank" rel="noopener">first trip to India in almost seven years</a> by eating a "Vada Pav" — a popular street food in Mumbai akin to a burger, with a spiced fried potato patty placed between a bun — with Bollywood actress Madhuri Dixit. "India has such a beautiful culture and an incredible energy," Apple's CEO Tim Cook said in a <a href="https://edition.cnn.com/2023/04/18/tech/tim-cook-apple-store-india-opening-intl-hnk/index.html#:~:text=%E2%80%9CIndia%20has%20such%20a%20beautiful,to%20build%20a%20better%20future.%E2%80%9D" target="_blank" rel="noopener">press release seen by CNN</a>. "We're excited to build on our long-standing history — supporting our customers, investing in local communities, and working together to build a better future."Apple has a second store opening in India. On Thursday, it will open its doors to a new store in the capital city of Delhi, <a href="https://www.cnbc.com/2023/04/18/apple-opens-first-store-in-india-in-iphone-sales-manufacturing-push.html?__source=iosappshare%7Ccom.tinyspeck.chatlyio.share" target="_blank" rel="noopener">per CNBC.</a>To be sure, Apple's new foray into India coincides with its push to move <a href="https://www.wsj.com/articles/apple-china-factory-protests-foxconn-manufacturing-production-supply-chain-11670023099" target="_blank" rel="noopener">production facilities out of China</a> — particularly <a href="https://www.businessinsider.com/workers-apple-supplier-foxconn-honahi-flee-china-zhengzhou-iphone-factory-2022-10">after the debacle</a> at <a href="https://www.businessinsider.com/iphone-production-could-be-hampered-by-workers-leaving-foxconn-factory-2022-10">China's largest iPhone factory, Foxconn,</a> which saw thousands of workers fleeing amid a COVID-19 outbreak.<a href="https://www.wsj.com/articles/apple-china-factory-protests-foxconn-manufacturing-production-supply-chain-11670023099" target="_blank" rel="noopener">The Wall Street Journal</a> reported on December 3 that Apple has accelerated its plans to shift some of its production outside China, a country that has long since held up the company's supply chain. The WSJ also reported that the company is telling suppliers to assemble products in other Asian countries like India and Vietnam. The push for a new customer base could also be a result of dwindling revenues. Apple <a href="https://affiliate.insider.com?h=227f47007371fd33cb51317b85515111440177bcba6e1d12372138b1585081ad&amp;postID=643e33ed2001442f7f445ad6&amp;site=bi&amp;u=https%3A%2F%2Fwww.apple.com%2Fnewsroom%2F2023%2F02%2Fapple-reports-first-quarter-results%2F" target="_blank" rel="noopener">posted first-quarter revenues</a> of $117.2 billion, which were down 5% year-on-year.Apple's representatives did not immediately respond to Insider's request for comment.

Inside Apple's first store in India, which spans 20,000 square feet — and marks a new era in the company's push for customers

Business Insider held the highly anticipated <keyword id="16987573" type="General" weightage="100" keywordseo="future-of-work-summit" source="Orion">Future of Work Summit</keyword> on March 17, 2023. The event, co-powered by <keyword id="691847" type="General" weightage="80" keywordseo="google-cloud" source="Orion">Google Cloud</keyword>, and hosted at WeWork BKC in Mumbai, brought together some of the brightest minds in the industry to discuss the new era of work, the workplace, and the workforce. Attendees had the opportunity to participate in interactive discussions and network with fellow professionals. The summit focused on shifting strategies that help retain talent with a renewed focus on people, creating more humane workplaces amidst digital adoption, finding a balance between hybrid and physical workspaces, and creating a more equitable environment overall. The keynote speaker, <keyword id="9756134" type="General" weightage="50" keywordseo="vinita-vaid-singhal" source="Orion">Vinita Vaid Singhal</keyword>, LabourSecretary (Maharashtra), delivered an enlightening speech, highlighting the need for collaboration between the government, businesses, and employees to create a more inclusive and productive workplace. She shed light on the new labour laws and how the Industrial Relations Act is the one that will now define an employee’s relationship with the employer, especially for the gig workers. “There are various new professions which have come up: the IT profession, the individuals, the freelancers, the ones who are hired for a certain period of time. All these relations between the employer and the employer, or even the freelancing people who don't really have a boss but work for themselves. What are the work ethics and work laws applying to them? They have also been clearly defined in these laws,” she said during the keynote address. The event featured a wide range of panel discussions, fireside chats, masterclasses, and an exclusive breakout session with the <keyword id="6355629" type="General" weightage="80" keywordseo="google" source="Orion">Google</keyword> Cloud <keyword id="3658" type="General" weightage="50" keywordseo="india" source="Orion">India</keyword> team. With over 25+ speakers discussing various topics like enhancing human capital at the workplace, the evolution of shared workspaces from coworking to corporate and reimagining the future of work and business. Sumedha Chakraborty, India &amp; SAARC Head - Google Workspace emphasised the importance of innovation and meaningful collaboration in the modern era, especially in the post-pandemic world where businesses are adapting to new ways of working. She said, “Google as a company thrives on innovation. We are a product company, right? So it's very important for us to get our culture right to get everything that we work around on the tools. We get that right because it's about people. If we don't have the people, we don't have the great products that we build and everything starts from there.” Innovation and collaboration are critical elements for businesses to thrive in the modern era, and companies like Google, which prioritise innovation and user experience, help lead the way in creating products that meaningfully connect people and drive growth. The summit also saw conversations around the two cornerstones that HR leaders must focus on to create a productive, diverse workforce that can adapt to changing needs of business – upskilling and the push for diversity, equity and inclusion across companies. The summit saw participation from India’s leading creators Rohan Joshi, Advait Gupt, and Varun Duggirala as they discussed the future of storytelling in India – how new platforms are revolutionising the way we consume and tell stories and the opportunities it presents for content creators. Overall, the Future of Work Summit 2023 was an engaging and informative event that offered valuable insights into the changing world of work and the opportunities and challenges that lie ahead.

Innovation and collaboration take center stage at Future of Work Summit 2023

<ul><li>India’s first Apple Store to open in Mumbai’ <keyword id="8181526" type="UNKNOWN" weightage="20" keywordseo="maker-maxity-mall">Maker Maxity mall</keyword> located in the commercial hub of the Bandra Kurla Complex (BKC). </li><li>Sources say construction of the store is already underway and the store will open in September next year. </li><li>Apple has reportedly leased 20,000 to 25,000 square feet of space to build its store across three floors. </li></ul>Apple and its fans in India have waited for this moment for a long time. It looks like the <a href="https://www.businessinsider.in/apple-store-to-launch-in-mumbai-soon/articleshow/69246612.cms">first signature Apple Store in India</a> will be launching soon and in one of Mumbai’s most posh localities — the Bandra Kurla Complex (BKC). Apple has reportedly leased 20,000 - 25,000 square feet to build its store in the Maker Maxity mall, co-owned by Reliance Industries, according to sources who spoke to the <a href="https://economictimes.indiatimes.com/industry/cons-products/electronics/apples-1st-own-india-outlet-to-come-up-at-bkc/articleshow/71415749.cms">Economic Times.</a> This will make it thrice the size of its largest franchisee store in India, which is around 8,000 square feet. Apparently the construction of the store is already underway and it will spread over three floors when it opens in September next year. The store will be similar to those in Hong Kong, which are around the same size. Apple did not confirm that it is currently building the store but stated, “We appreciate the support and hard work by Prime Minister Modi and his team to make this possible and we look forward to one day welcoming customers to India’s first Apple retail store. It will take us some time to get our plans underway and we’ll have more to announce at a future date.” Nothing to do with FDI norms Apple had already <a href="https://www.businessinsider.in/apple-store-to-launch-in-mumbai-soon/articleshow/69246612.cms">announced plans</a> of launching its store in India in May, before the easing of foreign direct investment (FDI) norms in August this year. It plans to manufacture more high-end devices in India so that it could meet the government’s requirement to sourcing 30% of its material locally. Increasing its manufacturing in India was also a fall-out of the US-China trade war. Apple’s sales in China had been suffering, the local manufacturing sector was contracting and the company decided to <a href="https://www.businessinsider.in/apple-iphone-mass-production-is-shifting-from-china-to-india-solving-a-key-problem-for-the-company/articleshow/68891132.cms">shift its base of operations</a>. But, the easing of FDI norms was beneficial for Apple — just in a different way. It allowed the company to set up its webstore for india. <a href="https://www.businessinsider.in/apples-webstore-could-be-up-and-running-in-5-months-as-india-eases-fdi-norms/articleshow/70887117.cms">Apple has plans to launch its new webstore</a> within the next three months, which will allow customers to order products the company’s full range of products online — even before the Apple Store is set up. See also: <a href="https://www.businessinsider.in/apple-store-to-launch-in-mumbai-soon/articleshow/69246612.cms">Apple Store to arrive in India, most likely on the shores of Mumbai</a> <a href="https://www.businessinsider.in/apple-iphone-mass-production-is-shifting-from-china-to-india-solving-a-key-problem-for-the-company/articleshow/68891132.cms">Apple iPhone mass production is shifting from China to India — solving a key problem for the company</a>

India’s first Apple Store opening in the Bandra Kurla Complex in Mumbai

Mumbai, May 8 () An officer working with capital markets regulator Sebi has tested positive for COVID-19, prompting the regulatory authority to get its headquarters here completely sanitised as per the necessary protocols while ensuring that all its functions continue uninterrupted, officials said. While most of the staff at Sebi's head office in the Bandra Kurla Complex area have been working from home ever since the lockdown began on March 25, some have been coming to office as per the government guidelines. Necessary arrangements are already in place for the work to continue uninterrupted, officials said. All capital market entities, including stock exchanges and commodities bourses, have been functioning during the lockdown as part of relaxations given for essential services. The Securities and Exchange Board of India (Sebi) has been actually very active during this time, while issuing a number of circulars and notifications including for granting a number of relaxations to market entities and listed companies, as also for greater surveillance during such difficult times to safeguard investors' interest. Sources said that the office premise was completely sanitised this morning and will remain closed for the day as part of abundant precaution, after it was found on Thursday evening that one officer has tested positive. "Since lockdown has been announced, Sebi has been taking all precautionary measures including those announced by the central and state governments," an official said. "After one of its officers reportedly tested positive for COVID-19 Thursday evening, Sebi is taking further required action as per the protocol, including sanitisation of its office buildings in BKC. Sebi continues to function uninterruptedly," the official added. RAM BJ BJBJ

Sebi officer tests positive for COVID-19

<ul><li><keyword id="10212462" type="COMPANY" weightage="20" keywordseo="wondrlab">Wondrlab</keyword> has announced its first acquisition with What’s Your Problem (WYP).</li><li><keyword id="283823" type="PERSON" weightage="20" keywordseo="Amit-Akali">Amit Akali</keyword>, Founder – MD &amp; CCO at WYP will now be the co-founder at Wondrlab.</li></ul>Platform-first martech company Wondrlab has announced its first acquisition with What’s Your Problem (WYP), a media-agnostic, problem-solution, truly integrated <keyword id="1127344" type="PERSON" weightage="20" keywordseo="creative-agency">creative agency</keyword>, started over five years ago. In a short time, WYP is one of the fastest-growing, hottest creative agencies in India, winning never-before accolades at international awards like Cannes Lions and Clio, along with Content Agency of the year at Goafest. It has also been the most awarded agency from India at the APAC Effies. Amit Akali, Founder – MD &amp; CCO at WYP will now be the co-founder at Wondrlab. Amit comes with nearly 25 years of experience. Before founding WYP, he was National Creative Director at <keyword id="684017" type="COMPANY" weightage="20" keywordseo="Grey-India">Grey India</keyword>, along with being part of the Grey Global Creative Council. WYP will remain a separate brand and become a part of Wondrlab’s content platform. The acquisition comes just a month after Wondrlab’s launch and will be followed by a series of high-impact reveals. Wondrlab has already bagged 25 clients and will have over 100 employees by December 2020. <keyword id="749098" type="PERSON" weightage="20" keywordseo="Saurabh-Varma">Saurabh Varma</keyword>, Founder and Chief Executive Officer, Wondrlab, said: “I had the opportunity to watch WYP during a pitch and was incredibly impressed by their thinking, passion and ability to solve clients’ problems in a meaningful way. I decided to connect with Amit and over a few conversations realised that we had the same purpose and belief in the kind of work we wanted to do. We both believed in the power of creativity and the future which data and technology can serve us. We both felt that our future is in building our own platforms. It is truly amazing seeing WYPs journey and the incredible job Tejas Mehta, Ruchita Zambre and the entire team has done and the reputation they’ve built for it. I am proud that Amit joins us as a co-founder. I could not have asked for a better partner to help us shape and drive our creative firepower. WYP is our first acquisition and we will continue to curate, partner, launch and acquire as we move forward.” Amit Akali, Co-Founder and Chief Creative Officer, Wondrlab, said, “What we’ve achieved at WYP has been phenomenal. Today, we are a 60-member team at our new BKC office in Mumbai. The momentum in the last year has been even greater, with us being probably the only agency that’s grown manifold in the lockdown. We’ve been lucky to create some of the most talked-about work in the last few months, be it the iconic Johnnie Walker Travelling Billboard, Tanishq ‘Ekatvam’ or the IPL campaign for Dailyhunt. A big thanks to Praful who helped me start WYP with the other co-founders. To Tejas, who has played a key role in our growth and continues to do so. Along with every past and present employee who’s always looked at WYP as their own family and given it their all. We are thrilled to be a part of Wondrlab. I am excited about the new, even larger, playing field we’re getting. The integration is almost seamless as the vision is identical. In a digital-first era, platformisation and technology are the drivers of customised solutions for brands.” He added, “When I first spoke to Saurabh and the other co-founders Vandana and Rakesh, it was uncanny how we share the same goals, ambitions and ideals. Together we aim to be a technology and creative powerhouse.” Malabar Capital Advisors served as financial consultants for the acquisition.

Wondrlab announces its first acquisition with What’s Your Problem

Mumbai, Mar 4 () The USD 572-billion private equity giant Blackstone, which has pumped in USD 15.5 billion into scores of companies in the country since its entry 15 years ago, is bullish on the Indian market which has given it the strongest results globally. Of the USD 15.5 billion of total investments it has made into 40 companies (and only six record-breaking profitable exits), as much as USD 6 billion flowed into the country in 2019 alone, a record high for the firm. Addressing a select group of media over lunch here, Stephen A Schwarzman, the chairman, chief executive and co-founder of Blackstone, said, "India has given us the strongest results across the world. And am optimistic this (will) continue going forward." But Schwarzman, known for his 'don't lose money' way of risk taking, did not quantify the returns he has made from the India investments. Since his last formal visit to India in 2006, Schwarzman, who is spending hundreds of millions of dollars on philanthropy, education and the arts, also said the India he visited then is not the India of today. The country has "changed enormously. India is a highly unusual market... despite the problems it is facing today, which is exacerbated by the crisis in the banking system, this market can come around for the better." "India's education sector is doing well, producing seven times more engineers than the US does annually. So it means it has all the preconditions for expansive growth as the economy has reached an inflection point," said Schwarzman, who founded Blackstone 30 years ago with USD 400,000, which has since grown to a USD 572 billion Wall Street gorilla. "Despite some hiccups, growth is happening at a good pace. Last year was a record for us with USD 6 billion investments. I see the same level of investment growth happening this year as well," said Amit Dixit, one of the senior managing directors at Blackstone Advisors India. The PE giant's largest exit was Intelenet Global Services, which was sold to French outsourcing giant Teleperformance for USD 1 billion in August 2018. Blackstone acquired it in 2013 for around USD 385 million and the return was its largest exit in Asia then. Blackstone invested in Intelenet twice in the last decade. It first picked up a stake in 2007 before selling to Selco in 2011. In late 2015, it bought the company back for USD 385 million.Blackstone pumped in USD 6 billion into India 2019 when it picked up companies like Aadhar Housing Finance from the troubled DHFL group for Rs 3,000 crore, stake in Essel Propack from the debt-laden Zee Group for Rs 3,211 crore, Akash Education, Indiabulls realty arm (Rs 1,600 crore), the tony One BKC property (Rs 2,500 crore) and Future Lifestyle. Blackstone is the largest realty investor in the country through its joint venture with the Embassy group, having launched the country's first REITs. Embassy Office Parks, the JV of Blackstone and Embassy, launched the first real estate investment trust (REIT) in March 2019, raising Rs 4,000 crore. Embassy Office Parks has a portfolio over 33 million sq ft comprising seven business parks and four city-centric buildings spread across Mumbai, Bengaluru, Pune and Noida. Besides the Embassy Group, Blackstone has also partnered with developers like Salarpuria Sattva Group, Indiabulls Real Estate, Panchshil Realty and K Raheja Corp, among others, totalling over USD 10 billion investments in realty sector alone. BEN ABMABM

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