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<ul><li>Info Edge is one of the earliest backers of Zomato, now valued $5.5 billion.</li><li>In a regulatory filing, Info Edge announced on Tuesday evening that it would sell ₹750 crore ($100 million) worth shares in Zomato’s IPO.</li><li>Further details would be shared with Zomato’s Draft Red Herring Prospectus, which the company is expected to file very soon.</li></ul>Info Edge announced on Tuesday evening that it would sell ₹750 crore ($100 million) worth shares in the upcoming initial public offering (IPO) of Zomato. The food delivery app is <a href="https://economictimes.indiatimes.com/tech/startups/info-edge-to-sell-rs-750-crore-zomato-shares-in-upcoming-ipo/articleshow/82278986.cms">likely</a> to be valued between $6-8 billion in its IPO. And the markets cheered the move – Info Edge share price was up by 2.5% in morning trade as of 9.20 am. However, later as of 9.57 am, it settled at ₹4994.5, a jump of 0.91%. <div type="image" title="INFO EDGE NEW" msid="82285680" hostid="261"></div> In a regulatory filing, Info Edge said, “The Board of Directors of the Company today considered and have given their approval to the Company to participate in the said Offer for Sale of up to such number of shares of Zomato Limited as would aggregate upto ₹7,500 million.” Further details would be shared with Zomato’s Draft Red Herring Prospectus, which the company is expected to file <a href="https://economictimes.indiatimes.com/tech/startups/info-edge-to-sell-rs-750-crore-zomato-shares-in-upcoming-ipo/articleshow/82278986.cms">very soon.</a> Info Edge, which holds as much as 20% stake in Zomato, has been one of the earliest backers of the company. “When we started investing there was no Softbank, we were in the mindset to start investing in businesses that we understand. One of the first companies we invested in was Zomato – the first cheque we wrote was for a million dollars. They used to do business listings – previews, menus, and we thought acha lag raha hain (looks good). It was not even called Zomato then it was called foodiebay,” Info Edge CEO Hitesh Oberoi had told Business Insider in an interview in 2019. Info Edge’s core business includes four internet firms that are spread across lucrative industries – recruitment portal Naukri.com, real estate aggregator 99acres.com, matrimony platform Jeevansaathi.com and edtech vertical Shiksha.com. SEE ALSO: <a href="https://www.businessinsider.in/india/news/covid-19-vaccine-phase-3-registration-on-cowin-and-aarogya-setu-not-working-for-18-on-28-april-morning/articleshow/82284828.cms">COVID-19 vaccine phase 3: Anxious Indians are complaining of CoWIN and Aarogya Setu registration being delayed</a>

Info Edge shares jump by 2.5% as markets cheer its move to sell ₹750 crore worth shares in the upcoming Zomato IPO

<ul><li>GenieMode has raised $7 million in a Series A round led by Zomato’s earliest backers <keyword id="80004" type="General" weightage="20" keywordseo="info-edge" source="Orion">Info Edge</keyword> Ventures.</li><li>Geniemode is a B2B platform that enables global buyers to source products from suppliers based in India and abroad.</li><li>Info Edge is also an investor in Bijnis, which focuses on unorganized markets and allows retailers to purchase directly from the source.</li></ul>Business-to-Business (B2B) ecommerce platform GenieMode has raised $7 million in a Series A round led by Zomato’s earliest backers Info Edge Ventures. This development comes only four months after the ten-month-old company raised $2.25 million in seed round, which witnessed participation from Zomato’s founder <keyword id="476451" type="General" weightage="20" keywordseo="deepinder-goyal" source="Orion">Deepinder Goyal</keyword>, CRED’s Kunal Shah, Apache Cassandra’s Prashant Malik and EthAum Venture’s Pankaj Gupta. “We are very excited to have Info Edge Ventures double down on their conviction in us in quick succession. We’ll utilise the fresh capital to bolster tech and product development, accelerate expansion in existing markets &amp; enter new markets,” Amit Sharma, chief executive (CEO) and cofounder of GenieMode, added. Founded in March 2021 by Amit Prakash Sharma and Tanuj Gangwani, Geniemode is a B2B cross-border tech platform that enables global buyers to source products from suppliers based in India and other Southeast Asian countries. The company competes with <a href="https://in.linkedin.com/company/myglobalfair">GlobalFair</a>, which is also backed by Cred’s Kunal Shah, RazorPay’s Harshil Mathur and others. Geniemode claims to have on boarded 100 small and medium enterprises as well as large suppliers form Indian subcontinent, who are currently getting connected to buyers from the US, UK, Europe and Australia. The company’s chief financial officer (CFO), Gangwani, added that the company is on track to hit $100 million in annualised topline in the next 12 months by offering a wide range of products, higher flexibility on minimum order quantity (MOQs) and better pricing. The company currently allows international buyers to choose from a selection of products in the home, furnishing, fashion and accessories, and other design-led categories. Info Edge is also an investor in another B2B ecommerce startup called Bijnis, which focuses on unorganized markets and allows retailers to purchase directly from the source. Info Edge — the $10 billion company which runs Naukri.com, Jeevansaathi.com, 99acres.com and Shiksha.com — has backed startups like PolicyBazaar, travel booking app ixigo, shipping and logistics company Shiprocket and <a href="https://www.businessinsider.in/business/startups/news/zomato-investor-info-edge-has-invested-in-a-drone-startup-skylark/articleshow/84144201.cms">Skylark, which is helping Swiggy</a> with its drone operations. The company invested in <a href="https://www.businessinsider.in/business/startups/news/zomato-policybazaar-investor-info-edge-invested-in-nearly-2-startups-every-month-in-2021/articleshow/86028438.cms">nearly 2 startups every month in 2021</a> till September. SEE ALSO <a class="tout-title-link" href="https://www.businessinsider.in/business/corporates/news/saffola-parachute-oil-maker-marico-sees-poor-demand-from-customers-amid-high-inflation/articleshow/88682276.cms">Marico is paying the price for rising inflation because its buyers aren’t able to</a> <a href="https://www.businessinsider.in/stock-market/news/marico-hdfc-dilip-buildcon-and-other-hot-stocks-to-watch-out-for-on-january-4/slidelist/88679287.cms" data-type="tilCustomLink">Marico, HDFC, Dilip Buildcon and other hot stocks to watch out for on January 4</a> <a href="https://www.businessinsider.in/business/news/ongc-appoints-alka-mittal-as-chairperson-and-managing-director/slidelist/88681434.cms" data-type="tilCustomLink">Meet Alka Mittal, the first woman to head oil giant ONGC</a>

After Deepinder Goyal and Kunal Shah, Info Edge backs this 10-month-old tech startup

HCL Tech, InfoEdge, Biocon and their peers may be safe stocks to hide for the rest of 2020

<ul><li>The India’s oldest internet company plans to raise ₹1875 crore by selling shares to qualified institutional investors. </li><li>The stock has grown by 70% since the lockdown began in March.</li><li>Eventually, the 11% growth in annual consolidated revenue was much better than estimates. </li></ul>Info Edge stocks jumped over 5% in early trade on Tuesday (June 23) after a sharp fall in quarterly and a plan to raise more money through new shares issued to qualified institutional investors. The $5 billion company, which runs <keyword id="218117" type="COMPANY" weightage="20" keywordseo="Naukri-com">Naukri.com</keyword>, Jeevansaath.com, 99acres.com and Shiksha.com, continues to be one of India’s largest internet companies. Investors had feared the company to perform a lot worse. So much so that a 60% fall in profit was better than expectation. <div type="image" title="info edge share latest." msid="76525158" hostid="261"></div> Better than what analysts expected <table style="border-width: initial; border-style: none; width: 468pt; table-layout: fixed;"></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;">InfoEdge </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;">FY20 </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;">JM Financial revenue estimate </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;">₹1272.7 crore </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;">Actual revenue </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;">₹1416.3 crore </td></tr></tbody></table> One of the better bets Internet businesses are being seen <a href="https://www.businessinsider.in/stock-market/markets/news/hcl-tech-infoedge-biocon-and-peers-safe-stocks-for-2020/articleshow/76523192.cms">as some of the safer bets</a> amidst the global recession triggered by the COVID-19 pandemic. And InfoEdge is one of the big ones in that space. “We believe the crisis will expedite the offline to online transition of several small/large businesses that could help Info Edge deliver exceptional performance over the medium to long term due to its strong fundamentals and superior market positioning,” said the JM Financial report. Naukri’s India business, which makes for one-third of InfoEdge’s annual consolidated revenue, saw a year-on-year decline of collection by ₹14 crore in the fourth quarter of FY20 and it worsened in April with a decline of ₹26 crore as compared to the same month the previous year. But that was due to the lockdown. Just before that, Naukri was growing at 13% (year-on-year) until mid March, according to the company. <table style="border-width: initial; border-style: none; width: 468pt; table-layout: fixed;"></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;">Jan-March 2020 </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;">Revenue growth (YoY) </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;">Profit growth (YoY) </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;">Naukri.com </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;">13.6% </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;">10.2% </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;">99acres.com </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;">3.5% </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;">Loss shrinks to a third </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;">Others </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;">-17.6% </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;">Loss has doubled </td></tr></tbody></table> And the promoters are cashing in. The company is set to raise ₹1875 crore through Qualified institutional placement i.e. selling new equity shares to big institutions. The internet company’s bid to raise funds through the unique method if successful will make it the <a href="https://www.livemint.com/news/india/info-edge-board-approves-raising-up-to-rs1-875-crore-through-qip-11592883581371.html">third company </a>(after Kotak Mahindra Bank and JM Financial) to raise capital through QIP since March this year. SEE ALSO: <a href="https://www.businessinsider.in/business/news/donald-trumps-h-1b-visa-ban-incites-a-sharp-reaction-from-indian-tech-company-like-wipro-tcs-infosys-tech-mahindra/articleshow/76524525.cms">Donald Trump's H-1B visa ban incites a sharp reaction from India's tech lobby</a> <a href="https://www.businessinsider.in/stock-market/markets/news/hcl-tech-infoedge-biocon-and-peers-safe-stocks-for-2020/articleshow/76523192.cms">HCL Tech, InfoEdge, Biocon and their peers may be safe stocks to hide for the rest of 2020</a>

Here’s why Info Edge stocks rallied over 5% despite 60% fall in quarterly profit

<ul><li><keyword id="830092" type="COMPANY" weightage="20" keywordseo="Zomato">Zomato</keyword> has raised ₹4,197 crore from 186 anchor investors</li><li>Singapore Government, Morgan Stanley, Tiger Global and others have bid for the IPO.</li><li>The company will open its IPO for retail investors on Wednesday at a price band of ₹72-76.</li></ul>Zomato has raised ₹4,197 crore from 186 anchor investors on Tuesday, July 13, a day before the food delivery and restaurant aggregator business opens its initial public offering (IPO) for retail investors. Several media reports citing sources have highlighted that Zomato got about 30-35 times more bids from anchor investors than it intended to sell in the first place. Marquee investors such as Government of Singapore, Morgan Stanley Investment Fund, Tiger Global Investment Fund, Baillie Gifford Pacific Fund, Fidelity Fund, New World Fund, Canada Pension Plan Investment Fund and Kotak Flexi Cap Fund, among others, were allotted more than 2% of the anchor book. Other anchor investors include JPMorgan, UTI Mutual Fund, Motilal Oswal AMC, HDFC Mutual Fund, ICICI Prudential Mutual Fund, Tata Mutual Fund, Goldman Sachs India, Abu Dhabi Investment Authority, Franklin Templeton, HSBC Asset Management (India). The company has informed the stock exchange that it had allotted 55.22 crore equity shares to the said anchor investors for ₹76 per equity shares. A total of 75% of the issue has been reserved for qualified institutional buyers (QIB), of which anchor investors make up for about 45% of the total issue size. About 25% shares have been reserved for high net with individuals and retail investors. Zomato intended to raise ₹9,375 crore with this IPO. About ₹9,000 crore will be a fresh issue and ₹375 crore will be a secondary issue by InfoEdge. The company will open its IPO for retail investors on Wednesday, July 14, at 10 a.m., at a price band of ₹72-76. Stockbroking<a href="https://www.businessinsider.in/business/startups/news/zomato-ipo-should-you-subscribe-this-ipo-check-out-analysts-view/articleshow/84369234.cms"> firms and analysts</a> do not have a unanimous call on whether retail investors should subscribe to Zomato’s issue or not. While a few have encouraged retail investors to go ahead, a few have raised caution about the company’s financial performance so far and and in the future. Motilal Oswal said that investors with high risk appetite can subscribe to the Zomato issue, whereas Choice Broking has recommended users to subscribe with caution. Motilal Oswal said that Zomato is placed at a sweet spot as the online food delivery market is at the cusp of evolution, but predicting the growth trajectory at this juncture is a little tricky for the next few years. Valuing such early-stage businesses on a plain vanilla financial matrix might not give the right picture and may look distorted, the brokerage added. SEE ALSO <a href="https://www.businessinsider.in/tech/news/amazon-acquires-facebooks-satellite-internet-team-bolstering-its-efforts-to-compete-with-spacex/articleshow/84395065.cms" data-type="tilCustomLink">Amazon acquires Facebook's satellite internet team, bolstering its efforts to compete with SpaceX</a> <a href="https://www.businessinsider.in/business/startups/news/softbank-swiggy-deals-gets-cci-approval-two-days-before-zomato-ipo/articleshow/84347306.cms">SoftBank-Swiggy deal gets CCI approval, two days before Zomato IPO</a> <a href="https://www.businessinsider.in/business/startups/news/payments-firm-mobikwik-files-for-1900-crore-ipo-reportedly-to-seek-1-billion-valuation/articleshow/84347520.cms">Payments firm MobiKwik files for ₹1,900 crore IPO, reportedly to seek $1 billion valuation</a>

Zomato raises ₹4,197 crore from 186 anchor investors, oversubscribed by 35 times

The <keyword id="6354813" type="COMPANY" weightage="100" keywordseo="nifty">Nifty</keyword> is likely to remain under the bears’ grip on Tuesday as weak global cues continue to pressure stock prices ahead of the 2-day FOMC meeting in the US. Heavy fund sales and the monthly futures and options expiry later this week will also weigh on local <keyword id="6354298" type="ORGANIZATION" weightage="100" keywordseo="stocks">stocks</keyword>. Traders are unlikely to push Buy buttons as they await the judgement of the <keyword id="117388" type="ORGANIZATION" weightage="100" keywordseo="US-Fed">US Fed</keyword>’s rating setting panel to meet today and on Wednesday on the health of the US economy. Meanwhile, the SGX Nifty points to a 15-point gap down opening for the Nifty on Tuesday. 

	Global cues remain bearish. Major Indices in the US dropped between 0.6 percent and 1 percent, losing ground for the 5th day. Stocks in EU were hit badly. Drops amounted to 1.1-2.4 percent on Monday.
 Markets in Asia are trading with minor losses on Tuesday morning after Monday’s carnage on Chinese <keyword id="45369" type="CITY" weightage="100" keywordseo="equities">equities</keyword> which saw their main index plunge 8.5 percent. Cues from the commodity space are modestly positive. Gold Futures posted a fresh 5-1/2 year low; Copper, Oil Futures are weak as well. 

	Meanwhile, the Nifty Index closed at 8,361 points, down 160 points on Monday. The Index ended below the crucial 200-day moving average, which means that the bears have a firmer grip on the market compared with bulls.
 

	Sentiment was hit in the cash market as well. Foreign Institutional Investors posted net sales of 860 crores worth in the cash market on Monday compared with net buys of 239 crore rupees by domestic investors. The derivatives space saw sales worth 1,414 crore rupees for Index Futures; Sales of 799 crore rupees for Stock Futures; Purchases of 1,540 crore rupees for Index options and net buys as well of 282 crore rupees for Stock Options.
 

	Major Earnings today include PNB, Maruti and HDFC. Delivery based selling was seen in Axis Bank, ICICI Bank and Lupin on Monday.
 

	STOCKS TO WATCH:
 

	TECH MAHINDRA: CLSA maintains Sell. Target at `450. Brokerage says Tech Mahindra posted quarterly sales that were in line with forecasts. But margins weaken.
 

	AMBUJA CEMENTS: CLSA Maintains Buy, Target `300. Cuts FY15 - 17 estimates by 7 - 17% but believe worst over for sector.
 

	BHARTI AIRTEL: To cut staff by 15-20 percent in its African operations in a bid to turnaround the loss-making business, reports the Economic Times. 
 

	INDIAN HOTELS: To open 15 new properties and add 1,747 new rooms in FY16
 

	INFOEDGE: Credit Suisse cuts target to `870 from `890, Maintains Neutral

	 
	 
	(Image credits: Indiatimes)

Top things to look out for in the markets today

UTI Asset Management Company (AMC) has received markets regulator Sebi's go ahead to raise a little over Rs 3,000 crore through its initial public offering (IPO). The IPO of the country's largest asset management company in terms of total assets under management (AUM) comprises sale of 3,89,87,081 equity shares by existing shareholders, according to the <keyword id="9447718" type="UNKNOWN" weightage="20" keywordseo="draft-red">draft red</keyword> herring prospectus (DRHP). State Bank of India (SBI), <keyword id="6365973" type="COMPANY" weightage="20" keywordseo="life-insurance-corporation">Life Insurance Corporation</keyword> (LIC) and Bank of Baroda are offering to sell 1,04,59,949 shares each, while Punjab National Bank (PNB) and T Rowe Price International are planning to offload 38,03,617 shares each. The public offer is expected to raise a little over Rs 3,000 crore, market sources said. UTI AMC, which had filed draft papers with Sebi in December 2019, obtained its observations on June 16, latest update with the markets watchdog showed. Sebi's observations are necessary for any company to launch <keyword id="122704" type="PERSON" weightage="20" keywordseo="public-issues">public issues</keyword> including initial share-sale, follow-on public offer and rights issue. SBI, LIC, Punjab National Bank and Bank of Baroda hold 18.5 per cent stake each in UTI AMC. The US-based T Rowe Price holds 26 per cent stake in the company. <keyword id="39409" type="COMPANY" weightage="20" keywordseo="Kotak">Kotak</keyword> Mahindra Capital, Axis Capital, CitiBank, DSP Merrill Lynch, ICICI Securities, JM Financial and SBI Capital Markets are the book running lead managers to the offer. The shares of the company are proposed to be listed on BSE and NSE. As of September 30, 2019, the company had the largest share of monthly average AUM. In December 2019, Sebi had asked SBI, LIC and PNB to dilute their stakes to below 10 per cent in UTI AMC by December next year. Under Sebi's mutual fund regulations, a shareholder or a sponsor owning at least 10 per cent stake in an AMC is not allowed to have 10 per cent or more stake in another mutual fund house operating in the country. SEE ALSO:<a href="https://www.businessinsider.in/stock-market/markets/news/hcl-tech-infoedge-biocon-and-peers-safe-stocks-for-2020/articleshow/76523192.cms" data-type="tilCustomLink"> HCL Tech, InfoEdge, Biocon and their peers may be safe stocks to hide for the rest of 2020</a> <a href="https://www.businessinsider.in/tech/news/googles-sundar-pichai-facebook-and-amazon-heres-how-american-companies-reacted-to-donald-trumps-h1-b-visa-freeze/articleshow/76522530.cms" data-type="tilCustomLink">Google’s Sundar Pichai, Facebook and Amazon — here’s how American companies reacted to Donald Trump’s H1-B visa freeze</a>

The IPO from India's largest asset management company UTI AMC is ready to hit the street

<keyword id="133737" type="General" weightage="20" keywordseo="dbs-bank" source="Orion">DBS Bank</keyword> India expands on the drivers for businesses to plan for a better recovery at the intersection of digitalization, supply chain management and net-zero goals, including its commitment towards zero food waste. Financing a green, new world, this discussion helps make sense of how to bring together multiple objectives in the transition to a low-carbon business strategy Over the last few years, climate change and sustainability have been increasingly integrated into governmental initiatives and business plans alike. However, to embark upon the transition to decarbonized operations, companies need the insights and progressive solutions of a responsible financing partner, and this forms the crux of why Asia’s Safest Bank believes that a sustainable business recovery needs to be banker-driven. “Sustainability financing has to go beyond the first level of financing and is not just about financing alone. Businesses have to adopt digital platforms to bring in data and that data can drive visibility to ensure continued support. Large corporations should also ensure that their vendor and supplier ecosystem also practice sustainability. And financing is key to ensuring this transformation,” Divyesh Dalal, DBS Bank India’s Head of Global Transaction Services told Business Insider in a webinar. Apart from textiles and energy, DBS is also keen on supporting agriculture, transportation and a range of sectors in planning for a net-zero future. <div type="Youtube" id="pdiYuoiS6LM" title="'A Road to Sustainable Recovery'" thumbUrl="https://i.ytimg.com/vi/pdiYuoiS6LM/mqdefault.jpg"></div> <cmsannotation type="cmsannotation" annotationid="Food security and food waste reduction" comment="subhead" text="Food security and food waste reduction">Food security and food waste reduction</cmsannotation> Anil Jena, the senior vice-president of Olam Agro too says that financing is key to the success of a sustainable business strategy in a resource-scarce world. The agro-commodity company is undertaking a key pilot project in northern Uttar Pradesh and parts of Haryana to drive sustainable rice production across 10,000 acres. “We all know that rice consumes a lot of groundwater. Apart from providing technology, we also help improve procurement that is way above the minimum support price. However, we need aid to provide pre-shipment finance to farmers to be able to align the entire ecosystem of small farmers, traders and suppliers,” Jena said. Enabling zero food waste across the supply chain is one of the key focus areas of sustainable finance for DBS Bank, which also works with startups innovating in this area with new technology. In 2020 itself, the bank created 200,000 kilos of food impact by reducing, recycling and redistributing. “One interesting project is where we provide financing for a company specializing in technology designed to optimize milk production by giving farmers information on when to milk cows by measuring temperature and other factors,” said Dalal. In another initiative, DBS Bank India is working on providing additional livelihood opportunities to rural households by working with female micro-entrepreneurs. The project involves the processing of retail-rejected, but perfectly edible, fruits and vegetables. In this project a DBS-supported social enterprise, S4S Technologies is providing solar powered dehydrators for the processing units, which will be set up by women entrepreneurs. Launched in August ‘21, the project is estimated to prevent the loss of more than 200 tons of fruits/vegetables by the end of 2021. <cmsannotation type="cmsannotation" annotationid="Digitalization unlocking the net-zero transformation" comment="subhead" text="Digitalization unlocking the net-zero transformation">Digitalization unlocking the net-zero transformation</cmsannotation> Backed by a heritage of developing Singapore’s strong digitalization prowess, DBS finances small and medium sized businesses across India, helping them adopt new technology, contactless modes and digital solutions that not just ease access to credit, but also bring transparency and traceability to transactions. “Digitization and sustainability go hand in hand. It also helps tier-3 and tier-4 supply chains deepen further,” said Dalal. Apart from reducing the contribution of agricultural and food waste to GHG emissions, the move to clean energy is key to restrict carbon impact and manage emissions targets. In addition to encouraging electric vehicles, expanding the base of wind and solar power production is also necessary to bridge the gap towards addressing climate change. To maintain remotely scattered clean energy sources, digitization is crucial, Juvenil Jani, the CFO of Sembcorp India told Business Insider. “We have over a 1000 turbines spread across thousands of acres. To maintain and optimize these turbines, we monitor, control, stop and rectify them virtually on our platform. We track every component remotely and almost all maintenance, with the exception of replacing a part, can be done remotely. In times of excess wind, we also change their movement in the right direction,” informs Jani. Clean energy sources, unlike traditional sources, are scattered across areas and hence bringing them under digital surveillance can optimize their functioning and hence improve their contribution towards a more sustainable future. India presents a significant opportunity in the sustainable financing space, and DBS aims to partner with high-impact businesses to propel development while contributing to environmental resilience. “The focus is on financing projects that enable us to deliver economic value in line with our responsible banking ethos.” adds Dalal. To summarize, as businesses are resetting and looking to mitigate risks from climate change in an ever evolving normal, finance is a driver, but digitalization is a key enabler in the path towards responsible resurgence. Disclaimer: This is a sponsored article in partnership with DBS Bank India SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/stock-market/news/hot-stocks-like-irctc-indiamart-infoedge-corrected-up-to-10-from-their-recent-peaks/slidelist/87306665.cms">Hot stocks like IRCTC, IndiaMART, Infoedge corrected up to 10% from their recent peaks</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/tech/apps/news/india-tops-list-of-countries-from-where-most-paid-reviews-for-tripadvisor-originated/articleshow/87305791.cms">India tops list of countries from where most paid reviews for Tripadvisor originated</a>

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