TMEIC to Invest US$35 Million for Business Expansion in India

New Factory Exemplifying the Concept of a Next-generation “Recycling Energy Factory” Planned for Construction -

March 23, 2016 – Toshiba Mitsubishi-Electric Industrial Systems Corporation (TMEIC; headquartered in Tokyo, Japan) has announced its plan for making an additional investment in India. In line with this, to address the rapid expansion of new orders for PV inverters, in particular, the Company will build a power electronics factory on newly acquired land situated adjacent to the motor factory of TMEIC Industrial Systems India Private Limited (TMIND).

TMEIC has previously invested nearly US$65 million for strategically growing its business operations in India, including construction of the motor factory. The additional investment planned totals approximately US$35 million. Nearly 60% of this amount will be used as capital for constructing a new factory roughly 10,000 square meters in size, while the remainder will be utilized to augment operations for the further business expansion of TMIND.

Construction of the new factory will start from this spring with the aim of commencing operations from around summer 2017. Together with relocating operations from the current power electronics factory acquired from AEG Power Solutions BV in 2014, approximately 250 people are expected to be employed at this production site. Additionally, the new facility exemplifies the concept of a next-generation “recycling energy factory” equipped with a solar power generation system.  

The new factory will produce power electronics products, specifically, PV inverters, motor drive inverters and Uninterruptible Power Supplies (UPS).

In terms of PV inverters, TMIND has received a large volume of new orders in India and the factory is continuously operating at full capacity. Additionally, as the global leader capturing the top share of PV inverters, TMEIC will supply PV inverters made in India not only locally but also throughout the world. The new factory will be genuinely designated as the core of TMEIC’s renewable energy business.

A UPS responds to critical power sources for data centers and other purposes. This product actually has a high technical commonality with PV inverters. While UPS made in Japan currently are being sold in India and new orders are steadily being received, TMEIC plans to produce products locally at the new factory directed toward making full-fledged inroads into the Indian market.   

With regard to motor drive inverters, TMEIC aims to expand these products as drive systems combined with motors. The new power electronics factory seeks to realize an ideal environment as a system in which motors and inverters will be produced at the same location. 

Construction of a new factory is the culmination of the means for achieving TMEIC’s strategy in India, and with the additional investment announced at this time, TMEIC’s investment in India will total US$100 million on a cumulative basis, which during the past three years is the largest investment TMEIC has made in any country worldwide, including Japan.

TMEIC will undertake concerted efforts to realize the further growth of TMIND as an Indian company toward the realization of the “Make in India” initiative.

‘Idea Jalsa’ Concert Tour 2016 reaches Bengaluru

Bengaluru, March 22 : ‘Idea Jalsa – Music for the Soul’ is back in Bengaluru and will feature Suma Sudhindra, a renowned Veena exponent of India along with The Legendary Padma Vibhushan Pt. Hariprasad Chaurasia on flute followed by a powerful Hindustani Classical Vocal Performance by the living Legend of India Sangeet Martand Padma Vibhushan Pandit Jasraj. The 12 city concert tour commenced from Chennai on February 5, 2016, and will now travel Pune and culminate in Bengaluru on the 26^th of March.

Music finds itself at the core of Idea Cellular Ltd.’s brand building and customer connect strategy. Indian Music has the ability to reach out to a cross section of society, with no barriers of language, caste, creed, etc. ‘Idea Jalsa – Music for the Soul’ is a unique project which has been partnered by Idea Cellular Ltd. since its inception in 2006. It has grown from strength to strength and has come to stand for ‘excellence’ & ‘quality’, engaging the large community of music lovers across the country. As always, Idea Jalsa will bring together legends, maestros, stars, young maestros and the rising stars of Indian music, to showcase the rich cultural heritage of India. The Idea Jalsa platform has already presented more than 7,000 musicians across genres! A proud achievement for Idea Jalsa this year, is the support that the Ministry of Tourism, Government of India has extended.

“Idea Jalsa is the largest platform for Indian Music across genres, which has been established with the active support of Idea Cellular Ltd. and has crossed many milestones in its journey since 2006, e.g. entering the Limca Book of Records, reaching more than 30 crore audiences through its TV telecasts, being the 1^st Indian Music project to be webcast live, telecast in 165 countries worldwide on Zee International and also being on 15 International Airlines’ inflight entertainment. We are very humbled that the Ministry of Tourism, Government of India has agreed to support this project with Incredible India.” said Durga Jasraj, Founder & Director, Art And Artistes.

Commenting on this occasion, Mr. Siva Ganapathi - Chief Operating Officer, Karnataka, Idea Cellular, said, “Idea Cellular has always considered music to be one of the important avenues to connect with our customers across the country. Idea Jalsa is one such platform which brings together legends, maestros, stars, and rising stars from the Indian music fraternity, to present a rich & diverse showcase of Indian culture for all music enthusiasts across the country and champion Hindustani classical music. We are happy to bring these unique performers and musicians to Bengaluru and are hopeful that our customers will join us in this celebration of music.”

Date:    Saturday, March 26, 2016

Venue:  Orion Mall, Bengaluru

Time:    6.30 PM

HCG IPO opens on Wednesday, March 16 with Price Band of Rs. 205 – Rs. 218

BANGALORE, March 14: HealthCare Global Enterprises Limited (HCG), India’s leading provider of cancer care in terms of the total number of private cancer treatment centres licensed by the AERB as of May 31, 2015 (Source: Atomic Energy Regulatory Board, Government of India) will enter the capital markets with its initial public offering (“IPO”) from March 16, 2016 to March 18, 2016, with a price band of Rs. 205 – Rs. 218 per equity share of face value of Rs. 10 each. The Anchor Investors shall bid one Working Day prior to the Bid/Offer Opening Date i.e. on Tuesday, March 15, 2016.

 The IPO consists of a fresh issue of up to 11.6 million equity shares by the Company and an Offer for Sale of up to 18.2 million equity shares by existing shareholders as mentioned in the Red Herring Prospectus dated March 4, 2016 (“RHP”).

 The Offer is being made through the Book Building Process wherein at least 75% of the Offer will be allotted on a proportionate basis to Qualified Institutional Buyers (“QIBs”). The Company in consultation with the Investor Selling Shareholders and BRLMs, may allocate up to 60% of the QIB Portion to Anchor Investors at the Anchor Investor Offer Price on a discretionary basis, out of which one-third shall be reserved for domestic Mutual Funds only. Additionally, 5% of the QIB Portion (excluding the Anchor Investor Portion) will be available for allocation on a proportionate basis to Mutual Funds only, and the remainder of the QIB Portion will be available for allocation on a proportionate basis to all QIB Bidders (other than Anchor Investors), including Mutual Funds, subject to valid Bids being received at or above the Offer Price

Further, not more than 15% of the Offer will be available for allocation on a proportionate basis to Non-Institutional Bidders and not more than 10% of the Offer will be available for allocation to Retail Individual Bidders in accordance with the SEBI ICDR Regulations, subject to valid Bids being received at or above the Offer Price. All potential investors (except Anchor Investors) shall participate in this Offer only through the Application Supported by Blocked Amount (“ASBA”) process. 

The Company proposes to utilize the net proceeds of the fresh issue towards; (i) Purchase of medical equipment, (ii) Investment in IT software, services and hardware, (iii) Pre-payment of debt and (iv) General corporate purposes.

Kotak Mahindra Capital Company Limited, Edelweiss Financial Services Limited, Goldman Sachs (India) Securities Private Limited, IDFC Securities Limited, IIFL Holdings Limited and Yes Bank Limited are the Book Running Lead Managers while Karvy Computershare Private Limited is the Registrar to Offer.

The offer would constitute up to 35.03% of the Company’s post-offer paid-up equity share capital.

The equity shares are proposed to be listed on the BSE and the NSE.