Security and Intelligence Services India to launch IPO

Mumbai: Security and Intelligence Services (India) Ltd said it has fixed price band between Rs 805 to Rs 815 per equity share of face value of Rs 10 for its proposed initial public offer (IPO).

The company is making a fresh issue of equity shares aggregating up to Rs 362.25 crore and an offer for sale of up to 5,120,619 equity shares by the selling shareholders.

The firm provides security solutions and business support services to a wide range of customers across India and Australia.

Proceeds of the issue will be utilised towards repayment of loan, funding working capital requirements and for general corporate purposes. The IPO opens on July 31 and will close on August 2, 2017.

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

Crowdera to raise USD 5 million as part of Series A funding

Crowdera, a crowd funding platform from Silicon Valley which started crowd sourcing for film production in India, is looking at raising USD 5 million as part of Series A funding.

"We are looking at raising USD 5 million as part of Series A funding for which we are talking to potential investors. We have partnered with Bollywood filmmaker Rajat Kapoor, to crowd produce multiple feature films in India," Crowdera founder Chet Jain said in a statement here. Through this partnership Crowdera wants to extend its fund raising platform to filmmakers in India who struggle to raise money from studios, it said.

Currently, Crowdera is in talks with multiple small production houses with similar concept to raise funds through launching campaigns in its platform.

Automation Expo to be held from Aug 9 in Mumbai. 

Automation Expo 2017, India's biggest and South East Asia's 2nd biggest automation show, will be held here from August 9 to 12. Nearly 900 companies from over two dozen countries are likely to participate at the event.

The Indian industrial automation industry is expected to reach Rs 197 billion by 2020 with growth driven by rapid adoption of modern technology backed by cost saving features, says Ken Research, a global aggregator.

The 12th edition of the show is expected to get more than 50,000 visitors from various OEMs and industries such as oil & gas, automobiles, pharmaceuticals, food processing, fertilizers and chemicals, cement, glass, electrical and electronics, and other automation technology users and solutions providers.

Schneider commissions 720kV captive solar plant in Gujarat.

Global energy management and automation company, Schneider Electric on Friday said it has commissioned a 720 kV solar project at its manufacturing facility in Gujarat.

This is the second solar project commissioned by the company at its manufacturing facility in India, it said in a statement issued here.

In 2015, the company had installed a 120 kV solar power plant at its Bengaluru unit.