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<keyword id="20024191" type="General" weightage="20" keywordseo="Reliance-Power" source="keywords" meta.keywordsubtype="org" meta.entityname="Reliance Power" meta.hostid="261" meta.entityid="Reliance Power">Reliance Power</keyword> said it has received <keyword id="21075266" type="General" weightage="20" keywordseo="shareholders-approval" source="keywords">shareholders' approval</keyword> to raise <keyword id="23666886" type="General" weightage="20" keywordseo="Rs-1524-60-crore" source="keywords">Rs 1,524.60 crore</keyword> through issuance of <keyword id="20770487" type="General" weightage="20" keywordseo="preferential-shares" source="keywords">preferential shares</keyword>. A resolution through a postal ballot notice has been passed with requisite majority, the company said in a late night stock exchange filing on Wednesday. According to the postal ballot notice, the company will raise up to Rs 1,524.60 crore by preferential issue of up to 46.20 crore <keyword id="20035340" type="General" weightage="20" keywordseo="equity-shares" source="keywords">equity shares</keyword> and/or warrants convertible into equivalent number of equity shares at a price of Rs 33 per apiece. On September 23, the board of Reliance Power Ltd had approved raising Rs 1,524.60 crore through issue of preferential shares, wherein promoters will infuse Rs 600 crore into the company to advance its business. <div type="Article" hostid="261" msid="79183505" title="Happy Dhanteras 2024 messages and wishes" mstype="2" mssubtype="0"></div> Reliance Infrastructure, the promoter of the company, will enhance its equity stake by over Rs 600 crore. The other investors who will participate in the preferential issue include Authum Investment and Infrastructure Ltd and Sanatan Financial Advisory Services. The fresh fund would be utilised for expansion of business operations directly and/or through investment in subsidiaries and joint ventures, debt reduction and for general corporate purposes, the company said. The preferential issue will enhance the company's net worth from about Rs 11,155 crore to over Rs 12,680 crore, it said. SEE ALSO:<a href="https://www.businessinsider.in/stock-market/webstories/afcons-infrastructure-ipo-gmp-risk-factors-and-all-you-need-to-know/slidelist/114490954.cms" target="_blank"></a> <a href="https://www.businessinsider.in/stock-market/webstories/afcons-infrastructure-ipo-gmp-risk-factors-and-all-you-need-to-know/slidelist/114490954.cms" target="_blank">Afcons Infrastructure IPO – GMP, risk factors and all you need to know</a><a href="https://www.businessinsider.in/tech/news/upi-refund-scam-to-digital-arrest-scam-here-are-most-common-online-scams-in-india/articleshow/114428011.cms" target="_blank"></a> <a href="https://www.businessinsider.in/tech/news/upi-refund-scam-to-digital-arrest-scam-here-are-most-common-online-scams-in-india/articleshow/114428011.cms" target="_blank">UPI refund to digital arrest scam, here are some online scams you need to be aware of</a><a href="https://www.businessinsider.in/stock-market/news/waaree-energies-ipo-allotment-how-to-check-allotment-ipo-gmp-listing-date-and-more/articleshow/114508632.cms" target="_blank"></a> <a href="https://www.businessinsider.in/stock-market/news/waaree-energies-ipo-allotment-how-to-check-allotment-ipo-gmp-listing-date-and-more/articleshow/114508632.cms" target="_blank">Waaree Energies IPO allotment – How to check allotment, IPO GMP, listing date and more</a>

Reliance Power gets shareholders' nod to raise ₹1,525 crore via preferential shares

In Maharashtra’s Thane district, police have registered a case of alleged fraud involving two construction company owners accused of deceiving a family of ₹1.2 crore. The incident came to light after a 28-year-old woman from Thane’s Rabodi area lodged a complaint against the two accused, who are brothers. The accused allegedly persuaded the woman, her mother, and her sister to invest the substantial sum in their construction company based in Mumbai’s Bandra area. Promises were made of a significant payout within five years or, alternatively, the option of acquiring two or three apartments in the city’s prime real estate zone. According to the complaint, the woman’s family entered the deal on December 31, 2022, convinced by assurances of either a return of ₹3 crore over five years or property options in Bandra. To meet the required investment amount, the family borrowed funds from various sources, entrusting their money with the accused based on the lucrative promises. The police official handling the case noted that the family, enticed by the seemingly profitable terms, had not foreseen the outcome that would follow. In May 2023, however, when the family attempted to reclaim their funds and the anticipated profit, the accused allegedly declined the request. The complainant stated that the brothers not only refused to pay but also reportedly threatened the family, citing powerful connections that would shield them from legal repercussions. This behaviour alarmed the family, leading them to seek legal recourse. The Rabodi police have filed a case against the accused under various sections of the Indian Penal Code, including Section 420 for cheating, Section 406 for criminal breach of trust, and Section 506 for criminal intimidation. Additionally, charges were filed under Section 34, indicating common intention, along with relevant provisions of the Maharashtra Protection of Interest of Depositors Act. The case highlights the dangers that investors may face when lured by high-return promises in unregulated sectors. Fraudulent schemes in real estate and construction have been known to target individuals and families looking for profitable investments, often leaving them with financial losses and emotional distress. Authorities are continuing investigations, with the Rabodi police closely monitoring the case to gather further evidence. This incident is expected to bring more attention to regulatory practices within the real estate industry and underscore the need for stricter oversight to protect potential investors from falling prey to deceitful operators. (with PTI inputs)

Thane family loses Rs 1.2 crore as they get cheated by construction company, details here

State-owned <keyword id="20253046" type="General" weightage="20" keywordseo="Hindustan-Copper" source="keywords">Hindustan Copper</keyword> Ltd on Monday reported a two-fold rise in <keyword id="20123335" type="General" weightage="20" keywordseo="consolidated" source="keywords">consolidated</keyword> <keyword id="19942166" type="General" weightage="20" keywordseo="net-profit" source="keywords">net profit</keyword> at <keyword id="22760670" type="General" weightage="20" keywordseo="Rs-113-40-crore" source="keywords">Rs 113.40 crore</keyword> for the quarter ended June 30, 2024. The company had posted a net profit of Rs 47.28 crore in the year-ago period, Hindustan Copper said in a filing to BSE. The consolidated income of the company during the April-June period rose to Rs 500.44 crore over Rs 384.73 crore in the year-ago period, the filing said. Hindustan Copper Ltd had earlier said that it is likely to exceed its capex target of Rs 350 crore for the ongoing fiscal year. The company is continuously investing in its ongoing mine expansion plan. Hindustan Copper Ltd (HCL) is under the administrative control of the Ministry of Mines. The company has facilities for the production and marketing of copper concentrate, copper cathodes, continuous-cast copper rods, and byproducts. SEE ALSO:<a href="https://www.businessinsider.in/stock-market/webstories/saraswati-saree-depot-ipo-price-band-to-risk-factors-all-you-need-to-know/slidelist/112457330.cms" target="_blank"></a> <a href="https://www.businessinsider.in/stock-market/webstories/saraswati-saree-depot-ipo-price-band-to-risk-factors-all-you-need-to-know/slidelist/112457330.cms" target="_blank">Saraswati Saree Depot IPO – Price band to risk factors, all you need to know</a><a href="https://www.businessinsider.in/tech/news/indias-wearables-market-decline-for-the-first-time-as-smartwatch-shipments-fall/articleshow/112397246.cms" target="_blank"></a> <a href="https://www.businessinsider.in/tech/news/indias-wearables-market-decline-for-the-first-time-as-smartwatch-shipments-fall/articleshow/112397246.cms" target="_blank">India’s wearables market decline for the first time as smartwatch shipments fall</a><a href="https://www.businessinsider.in/business/auto/news/tata-curvv-ev-with-up-to-585-km-range-launched-starting-at-17-49-lakh/slidelist/112342769.cms" target="_blank"></a> <a href="https://www.businessinsider.in/business/auto/news/tata-curvv-ev-with-up-to-585-km-range-launched-starting-at-17-49-lakh/slidelist/112342769.cms" target="_blank">Tata Curvv EV with up to 585 km range launched starting at ₹17.49 lakh</a>

Hindustan Copper Q1 net profit rises two-fold to ₹113.40 crore

New Delhi: Markets regulator <keyword id="19901201" type="General" weightage="100" keywordseo="Sebi" source="keywords">Sebi</keyword> has proposed a minimum ticket size or <keyword id="21732014" type="General" weightage="20" keywordseo="investment-threshold" source="keywords">investment threshold</keyword> of Rs 1 crore for the RBI-regulated originators and unregulated entities engaged in securitisation activities. The proposal also introduced limitations on the number of investors in <keyword id="22496291" type="General" weightage="20" keywordseo="private-placements" source="keywords">private placements</keyword>, allowing <keyword id="23778966" type="General" weightage="20" keywordseo="securitized-debt-instruments" source="keywords">securitized debt instruments</keyword> (SDIs) issued privately to be offered to a maximum of 200 investors. If this limit is exceeded, the issuance must be classified as a public issue. Public offers should remain open for a minimum of three days and a maximum of 10 days, with advertisement requirements aligned with Sebi's regulations for non-convertible securities. Additionally, the regulator has suggested that all securitized debt instruments should be issued and transferred exclusively in demat form. SDIs are financial products created by pooling together various types of debt -- such as loans, mortgages, or receivables -- and then selling them as securities to investors. This process, known as securitisation, allows the originator (such as a bank) to convert illiquid assets into liquid ones, providing an alternative source of funding. Investors in these instruments receive returns based on the performance of the underlying debt pool, and the risk is spread across multiple assets, offering potentially attractive returns. The current framework is based on Sebi's 2008 regulations, with updates from the Reserve Bank of India's (<keyword id="19899808" type="General" weightage="20" keywordseo="RBI" source="keywords">RBI</keyword>) 2021 directions on securitising standard assets. The Securities and Exchange Board of India (Sebi) is now considering updates to the regulatory framework for securitized debt instruments and sought public comments till November 16 on the proposals. Regarding risk management, Sebi has proposed that originators retain a minimum risk retention of 10 per cent of the securitised pool or 5 per cent for receivables with a maturity of up to 24 months. A minimum holding period requirement will also be specified by Sebi for underlying receivables to ensure that originators maintain an interest in the underlying assets, the regulator said in a consultation paper. The regulator further suggested including an optional clean-up call for originators, allowing them to repurchase up to 10 per cent of the original value of the assets. This call is optional and intended to help manage the pool's longevity without mandating additional commitments from the originator. Liquidity facilities, essential to handle timing mismatches in cash flows, should either be provided directly by the originator or through an appointed third party. The updated definition of "debt/receivables" limits permissible underlying assets to listed debt securities, accepted trade receivables, rental incomes, and equipment leases while disallowing single-asset securitisation. The proposal establishes minimum track record requirements for both originators and obligors. Originators should have a minimum of three years of operating experience, while trade receivables specifically require at least two cycles of successful, default-free payments.

Sebi proposes Rs 1 crore minimum investment, mandatory demat form for securitized debt instruments

The family of an <keyword id="20246468" type="General" weightage="20" keywordseo="Agniveer" source="keywords" meta.keywordsubtype="org" meta.entityname="Agniveer" meta.hostid="261" meta.entityid="Agniveer">Agniveer</keyword> from <keyword id="19897316" type="General" weightage="20" keywordseo="Maharashtra" source="keywords">Maharashtra</keyword> who died in the line of duty last year has said they have received an assistance of <keyword id="22254620" type="General" weightage="20" keywordseo="Rs-1-08-crore" source="keywords">Rs 1.08 crore</keyword> from the <keyword id="19900449" type="General" weightage="20" keywordseo="government" source="keywords">government</keyword>. The family's statement came after <keyword id="19953821" type="General" weightage="20" keywordseo="Defence-Minister" source="keywords">Defence Minister</keyword> <keyword id="19911645" type="General" weightage="20" keywordseo="Rajnath-Singh" source="keywords">Rajnath Singh</keyword> on Monday said an Agniveer who lays down his life in the line of duty gets a compensation of Rs 1 crore. Singh was speaking after Leader of Opposition in the Lok Sabha <keyword id="19895780" type="General" weightage="100" keywordseo="Rahul-Gandhi" source="keywords">Rahul Gandhi</keyword>, while referring to the Agnipath military recruitment scheme, claimed the government regards Agniveers as "use-and-throw labourers" and does not even give them the status of a "shaheed (martyr)". Agniveer <keyword id="22254636" type="General" weightage="20" keywordseo="akshay-gawate" source="keywords">Akshay Gawate</keyword>, native of Pimpalgaon Sarai in Maharashtra's Buldhana district, died in the line of duty in Siachen on October 21, 2023. Speaking to reporters here on Monday evening, his father Lakshman Gawate said that after Akshay Gawate's death, the family got "Rs 48 lakh as his insurance cover, Rs 50 lakh from the central government and Rs 10 lakh from the state government." He also demanded a government job for Akshay's sister. He was reply to a question by reporters on the compensation received after his son's death. The Agnipath scheme, announced on June 14, 2022, provides for the recruitment of youths between the age bracket of 17-and-half years and 21 for only four years, with a provision to retain 25 per cent of them for 15 more years. The government extended the upper age limit to 23 years later that year.

We got Rs 1.08 cr aide from govt: family of deceased Agniveer

The stock of <keyword id="19896380" type="General" weightage="20" keywordseo="Reliance-Industries" source="keywords">Reliance Industries</keyword> Ltd climbed nearly 3 per cent during the late afternoon trade on Thursday following the announcement that the company's board will consider issuing 1:1 bonus shares on September 5. Shares of the firm jumped 2.63 per cent to Rs 3,074.80 on the BSE as soon as the announcement came in. At the NSE, the bellwether stock climbed 2.58 per cent to Rs 3,074. The company's market valuation also surged Rs 42,399.24 crore to Rs 20,60,461.42 crore. <keyword id="10926" type="General" weightage="20" keywordseo="Reliance" source="Orion">Reliance</keyword>, the nation's most valuable company, had last issued bonus shares in September 2017. "A meeting of the Board of Directors of the company is scheduled to be held on Thursday, September 5, 2024, to consider and recommend to the shareholders for their approval, issue of bonus shares in the ratio of 1:1 to the equity shareholders of the company by capitalisation of reserves," the firm said in the stock exchange filing. Prior to the 1:1 bonus issue in 2017, Reliance had in 2009 issued 1:1 bonus share.

Reliance Industries valuation jumps by Rs 42,399 crore following 1:1 bonus shares consideration announcement

In the last few months, there have been ample cases where innocent <keyword id="20452560" type="General" weightage="20" keywordseo="job-aspirants" source="keywords">job aspirants</keyword> were duped of their hard-earned money by <keyword id="20013464" type="General" weightage="20" keywordseo="fraudsters" source="keywords">fraudsters</keyword> on pretext of getting a new job. A recent case from <keyword id="19932272" type="General" weightage="20" keywordseo="Navi-Mumbai" source="keywords">Navi Mumbai</keyword> has now come to light where aspirants were robed off Rs 1.3 crore in total. The authorities in Navi Mumbai have registered a case against six people, accused of defrauding job seekers of Rs 1.31 crore, according to officials from Kharghar police station. The accused allegedly promised clerical positions in the <keyword id="19909154" type="General" weightage="20" keywordseo="Indian-Railways" source="keywords" meta.keywordsubtype="org" meta.entityname="Indian Railways" meta.hostid="261" meta.entityid="Indian Railways">Indian Railways</keyword> to 20 victims, collecting the funds through digital payments and cash between September 2022 and April 2023. <h2>The Scam: False promises of Railway jobs </h2> The six people, as per a PTI report, contacted the victims with guarantees of securing clerical roles in the Indian Railways. Over the course of several months, the accused collected a total of Rs 1.31 crore from the job aspirants, giving false assurances about placements. However, when the victims, all residents of the Kharghar area, began asking about their job status, the accused stopped responding and failed to return the money. One of the six accused people allegedly misappropriated the funds, using the collected money for personal purposes. It was reported that this person used the victims’ money to finance the construction of a house in Kolhapur, adding another layer of betrayal to the scam. <h2>Legal action and investigation </h2> Realising they had been duped, the victims filed a complaint with the Kharghar police. Following this, the police registered an FIR against the six accused under several sections of the Indian Penal Code (IPC), including 420 (cheating), 406 (criminal breach of trust), and 34 (acts done by several persons with common intention). The police are currently working to locate and apprehend the individuals involved. The case highlights the ongoing risk of job-related scams, where fraudsters prey on the aspirations of job seekers, especially in sectors like the Indian Railways, known for secure government jobs. (With PTI inputs)

Navi Mumbai job aspirants robbed of Rs 1.31 crore on pretext of Indian Railways job, 6 accused booked

Telangana Chief Minister Revanth Reddy has honoured <keyword id="23309990" type="General" weightage="20" keywordseo="Paralympic-athlete" source="keywords">Paralympic athlete</keyword> <keyword id="20452398" type="General" weightage="100" keywordseo="Deepthi-Jeevanji" source="keywords">Deepthi Jeevanji</keyword> with a cheque of Rs 1 crore for her impressive <keyword id="20257145" type="General" weightage="20" keywordseo="bronze-medal" source="keywords">bronze medal</keyword> finish at the <keyword id="20420017" type="General" weightage="20" keywordseo="Paris-Paralympics" source="keywords">Paris Paralympics</keyword>. Her coach also received Rs 10 lakh in recognition of his contribution. The rewards were handed over at the Chief Minister’s residence in Jubilee Hills, in the presence of Sports Chairman Siva Sena Reddy and other officials, an ANI report said. Earlier this month, the Chief Minister had promised to ensure Deepthi would receive not only the Rs 1 crore reward but also a Group-2 government job and 500 square yards of land in Warangal. At Tuesday’s event, Deepthi and her coach expressed their satisfaction at the swift fulfilment of this promise. Deepthi’s achievement at the Paris Paralympics made headlines. Competing in the Women’s 400m T20 event, she finished third with a time of 55.82 seconds, behind Ukraine's Yuliia Shuliar, who won gold, and Turkey's Aysel Onder, who took silver. Despite falling behind in the final stretch, Deepthi’s performance was a proud moment for India, adding a bronze medal to the country’s tally. Her journey to the final was impressive as well. In the qualification round, she topped her heat in the Women’s 400m T20 Round 1 with a time of 55.45 seconds, setting her up as a strong contender. Ukraine's Yuliia Shuliar clocked her season-best in the same round, while Brazil's Antonia Keyla Da Silva Barros also performed exceptionally to qualify for the final. Deepthi’s rise in para-athletics has been rapid. She was first discovered by Sports Authority of India (SAI) coach N Ramesh in Hyderabad back in 2019. Since then, she has quickly established herself as one of India’s top athletes, joining the Khelo India programme in 2018 and becoming a part of the Target Olympic Podium Scheme (TOPS). Her success includes a gold medal at the Asian Para Games and another at the 2024 World Championship, where she broke the world record. At just 21, Deepthi has already made a significant impact in both the national and international sports scene. From winning medals at the Khelo India Youth Games to her recent bronze at the Paralympics, she has consistently demonstrated her talent and determination. (With ANI inputs)

Telangana CM Revanth Reddy awards Rs 1 Crore to paralympian Deepthi Jeevanji for bronze medal victory

Founder <keyword id="20198157" type="General" weightage="20" keywordseo="Ritesh-Agarwal" source="keywords">Ritesh Agarwal</keyword> has invested Rs 830 crore through his Singapore-based entity Patient Capital in <keyword id="19901637" type="General" weightage="20" keywordseo="OYO" source="keywords">OYO</keyword>'s latest <keyword id="20080855" type="General" weightage="20" keywordseo="funding-round" source="keywords">funding round</keyword> -- wherein the <keyword id="21745043" type="General" weightage="20" keywordseo="travel-tech-platform" source="keywords">travel tech platform</keyword> raised Rs 1,457 crore, sources said. Post the equity dilution in the <keyword id="22756111" type="General" weightage="20" keywordseo="Series-G-funding" source="keywords">Series G funding</keyword>, Agarwal's holdings will increase from 29.97 per cent earlier, to 32.57 per cent post the investment, sources told PTI. According to sources close to the transaction, "Ritesh has invested to protect his ownership dilution in OYO as well as a signal of confidence in the company's prospects. The investment is backed by Singapore-based family offices." <keyword id="20517346" type="General" weightage="20" keywordseo="Oravel-Stays-Ltd" source="keywords" meta.keywordsubtype="org" meta.entityname="Oravel Stays Ltd" meta.hostid="261" meta.entityid="Oravel Stays Ltd">Oravel Stays Ltd</keyword>, the parent company of OYO, has raised Rs 1,457 crore from a consortium of investors in the latest funding round. The additional equity issuance was approved by 99.99 per cent shareholders in an Extraordinary General Meeting (EGM) held on August 8. The additional fundraise values the company at USD 2.4 billion, as the first Series G tranche issued to InCred in July. The investment is being made through Compulsory Convertible Cumulative Preference Shares, each priced at Rs 29, consistent with the valuation of the recent raise in Series G. The capital will be used to support OYO's growth and its global expansion plans, sources said.

Founder Ritesh Agarwal invests Rs 830 crore in OYO's latest funding round; Platform raises Rs 1,457 crore

New Delhi [India], July 19 (ANI): <keyword id="19899016" type="General" weightage="100" keywordseo="Vodafone-Idea" source="keywords" meta.keywordsubtype="org" meta.entityname="Vodafone Idea" meta.hostid="261" meta.entityid="Vodafone Idea">Vodafone Idea</keyword> approved the allotment of more than <keyword id="22467816" type="General" weightage="20" keywordseo="40-crore-shares" source="Orion">40 crore shares</keyword> on a preferential basis to <keyword id="6354716" type="General" weightage="20" keywordseo="Nokia" source="Orion">Nokia</keyword> Solutions and Networks India and to <keyword id="330957" type="General" weightage="20" keywordseo="Ericsson-India" source="Orion">Ericsson India</keyword>, the company informed the exchange in a filing. The company stated that this preferential allotment is in accordance with SEBI's regulations which totals around <keyword id="22467815" type="General" weightage="20" keywordseo="Rs-615-crore" source="keywords">Rs 615 crore</keyword> and represents a strategic move to enhance the company's capital base. According to the statement by the company, the breakdown includes around 25 crore <keyword id="20035340" type="General" weightage="20" keywordseo="equity-shares" source="keywords">equity shares</keyword> to Nokia Solutions and Networks India Pvt. and over 15 crore equity shares to Ericsson India Pvt. The issue price per equity share was set at Rs. 14.80, including a premium of Rs. 4.80 per share at a face value of Rs 10 per share. "The Capital Raising Committee of the Board ("Capital Raising Committee") has, at its meeting, approved the second tranche of allotment of 41,52,02,701 Equity Shares of face value of Rs. 10/- each at an issue price of Rs. 14.80 per equity share (including a premium of Rs. 4.80 per equity share), to Nokia Solutions and Networks India Private Limited (25,67,56,756 Equity Shares) and Ericsson India Private Limited (15,84,45,945 Equity Shares), aggregating to Rs. 614.5 crores, on a preferential basis" said the company. Recently, Vodafone Idea (<keyword id="634808" type="General" weightage="20" keywordseo="VIL" source="Orion">VIL</keyword>) added 0.8 million mobile broadband (MBB) subscribers in May, but the company continued to see declines in both overall and active subscriber bases, losing 0.9 million and 1.7 million subscribers, respectively. The shares of Vodafone Idea closed at Rs 16.32 after a decline of more than 2 per cent on Thursday.

Vodafone Idea to raise Rs 615 crore through preferential shares allotment to Nokia and Ericsson India

<keyword id="19982504" type="General" weightage="20" keywordseo="IIT-Bombay" source="keywords" meta.keywordsubtype="org" meta.entityname="IIT Bombay" meta.hostid="261" meta.entityid="IIT Bombay">IIT Bombay</keyword> is one of the top choices for recruiters and every year, many graduates from the institution get lucrative <keyword id="19897127" type="General" weightage="20" keywordseo="job-offers" source="keywords">job offers</keyword> that make headlines. The 2023-2024 placement season at the institution just came to a close and a detailed report of the same is available on IIT Bombay's website. As per the report, around 75 percent candidates got a job offer this time. "The placement season was successfully completed with three out of four students securing desired job profiles despite the challenging job scenario. The total recruited Ph.D. students are 32 out of 118 active participants. Considering the total number of participating students, the placement percentage is nearly 75%. Most of the remaining unplaced students have identified avenues to be gainfully employed. Some of the unplaced students prefer higher studies, self-employment, or entrepreneurship over the jobs being offered to them. Almost all of the participating companies have honored their job offers," the report said. However, the lowest salary being offered to students this year is making headlines as it dropped to 4 LPA this year. Let us take a look at some of the highlights of the <keyword id="23022543" type="General" weightage="20" keywordseo="2024-placements" source="keywords">2024 placements</keyword> in IIT Bombay, including the highest salary packages, <keyword id="23022544" type="General" weightage="20" keywordseo="top-recruiters" source="keywords">top recruiters</keyword>, and an overview of student placements and internships. <h2><keyword id="23018452" type="General" weightage="100" keywordseo="IIT-Bombay-2024-placements" source="Orion">IIT Bombay 2024 placements</keyword>: Highest salary</h2>One of the standout features of this year’s placements was the 22 job offers exceeding INR 1 crore per annum, reflecting demand for specialised skills in certain sectors. Additionally, 78 students accepted international offers, indicating the global opportunities accessible to IIT Bombay graduates. <h2 style="margin-bottom: 0.7em; line-height: 1.3; color: rgb(0, 0, 0); font-size: 24px; background: 0px 0px rgb(255, 255, 255); text-rendering: optimizelegibility;">IIT Bombay 2024 placements: Average salaries</h2>The overall average annual CTC (Cost to Company) offered during the 2023-2024 placement season was Rs 23.50 LPA (Lakhs Per Annum), marking a 7.7% increase from the previous year’s average of Rs 21.82 LPA. The median salary stood at Rs 17.92 LPA, underscoring the consistent demand for graduates across various sectors. These numbers are a testament to the robust job market that IIT Bombay students enter upon graduation. <div type="Article" hostid="261" msid="109184947" title="Fresher hiring sees a significant decline, particularly in IT sector! What should you do?" mstype="2" mssubtype="0"></div> <h2>IIT Bombay 2024 placements: Lowest salaries</h2>While the focus often falls on the highest salaries, it’s important to note that there were also offers at the lower end of the spectrum. As mentioned already, the lowest salary offers during the 2023-2024 placements fell within the Rs 4 LPA to Rs 6 LPA range this year. Earlier, the lowest salary offered to students used to be 6 LPA. As per reports, 10 students accepted offers that fell within this range. These figures are more common in sectors such as education and design, where entry-level salaries tend to be modest compared to other fields. <h2>IIT Bombay 2024 placements: Number of students who got jobs </h2>Out of the 2,414 students who registered for placements, 1,475 students secured job offers, bringing the placement rate to 74.53%. The placement drive saw participation from 364 companies, with 1,650 job offers being made. In addition to full-time roles, internships also played a crucial part in student preparation and employment. A total of 1,267 internship offers were made, including 1,177 from companies and 90 from universities, reflecting a 13% increase in internship opportunities compared to the previous year. <h2>IIT Bombay 2024 placements: Top recruiters</h2>This year, the Engineering and Technology sector emerged as the top recruiter, with 430 students being hired by 106 companies. The IT and Software sector followed closely, offering 307 job positions. Finance, Consulting, and Research &amp; Development were also prominent, with significant hiring across these domains. Major companies participating in the placements included top Indian and multinational firms. <h2 style="margin-bottom: 0.7em; line-height: 1.3; color: rgb(0, 0, 0); font-size: 24px; background: 0px 0px; text-rendering: optimizelegibility;">IIT Bombay 2024 placements: Pre-Placement offers</h2>Pre-placement offers (PPOs) continued to be a vital aspect of the placement process at IIT Bombay. In the 2023-2024 placement season, students received 300 PPOs, of which 258 were accepted. These offers were largely made after the completion of summer internships, highlighting the importance of these internships in securing full-time positions. <h2>Comparison of the number of students placed in the last four years</h2>IIT Bombay has seen lesser student placement numbers over when compared to last year. However, when we look at the last four years, the numbers have been stable. In the 2020-2021 season, 1,150 students were placed, which rose to 1,441 in 2021-2022. The peak was reached in 2022-2023 with 1,516 placements, while this year saw a slight decrease to 1,475. This slight dip from last year’s record high can be attributed to the challenging global economic conditions. <h2>Number of offers from different programs</h2>Different academic programs at IIT Bombay saw varying levels of placement success. The B.Tech program led the way with 683 placements, followed by the M.Tech program with 415 placements. The Dual Degree (B.Tech + M.Tech) program saw 152 students placed, while other programs such as M.Sc., M.Des, and Ph.D. had varying placement numbers, reflecting the diverse opportunities available across disciplines. <h2>International opportunities</h2>This year’s placement season also highlighted a significant rise in the number of international offers, with students receiving opportunities in countries like Japan, Taiwan, Europe, the UAE, Singapore, and the USA. 78 international job offers were made to students this year, whcih is an increase when compared to 65 offers last year. Additionally, the number of companies participating in the placements grew by 12%, indicating steady interest from employers. SEE ALSO: <a href="https://www.businessinsider.in/business/news/will-protest-in-front-of-infosys-office-if-date-is-breached-nites-president-as-1000-freshers-get-joining-date/articleshow/112913256.cms" data-type="tilCustomLink" target="_blank"></a><a href="https://www.businessinsider.in/business/news/swiggy-co-founder-reveals-the-company-had-0-orders-on-day-1-now-it-has-over-3-lakh-partners/articleshow/112884424.cms" data-type="tilCustomLink" target="_blank">Swiggy co-founder reveals the company had 0 orders on day 1, now it has over 3 lakh partners</a> Will protest in front of Infosys office if date is breached: Nites president as 1,000 freshers get joining date

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