Neel Achary - Business News Week

business

MICEverse secures prestigious JA Resorts & Hotels as exclusive India Representative

Jun 18, 2025 by Neel Achary 0 Comments

June 2025, India – As India’s outbound travel market continues to surge across weddings, MICE, and experiential group travel, JA Resorts & Hotels, UAE’s heritage hospitality group, has appointed MICEverse, the specialist vertical of One Rep Global, as its strategic representation partner for India.

This collaboration marks a significant step in JA Resorts & Hotels’ strategic expansion into the Indian subcontinent—a market known for its scale, spend, and growing appetite for destination-led group experiences. MICEverse, a dedicated sales and marketing hospitality representation company with deep expertise in MICE and weddings, will lead brand visibility and business development through a comprehensive 360-degree approach—positioning JA Resorts & Hotels top-of-mind among Indian wedding planners, corporates, and luxury travel specialists.

This partnership is a strong endorsement of MICEverse as the preferred platform for international hotel brands looking to tap into India’s high-potential group travel market. With its deep understanding of Indian consumer behaviour and strong industry networks, MICEverse offers an unmatched gateway to the booming sectors of destination weddings, corporate incentives, and bespoke leisure groups.

Founded in 1981 and named after the original Jebel Ali Beach Hotel, JA Resorts & Hotels today encompasses seven distinct properties across the UAE and Maldives. The brand is synonymous with heartfelt hospitality and immersive settings, from beach resorts and mountain escapes to business-focused urban hotels and natural island luxury.

In the UAE, the group offers:

Three distinct experiences within JA’s original beachfront destination in Jebel Ali — the family-friendly JA Beach Hotel, the spacious all-suite JA Palm Tree Court, and the performance lifestyle-led JA Lake View Hotel.
JA Lake View Hotel is also home to Kinara by Vikas Khanna. Known for its bold, progressive Indian cuisine and cultural resonance, Kinara is a key draw for Indian weddings and milestone celebrations.
With the resurgence of Palm Jebel Ali, the expansion of Al Maktoum International Airport, and the continued development of the Expo 2020 district, Jebel Ali is quickly emerging as Dubai’s next flagship destination — making JA’s beachfront offering more relevant than ever.

JA Ocean View Hotel, offering uninterrupted views of the Arabian Gulf and Ain Dubai, with direct access to the vibrant JBR promenade.

JA Hatta Fort Hotel, a heritage-inspired mountain escape nestled in the Al Hajar range — ideal for outdoor adventures and group retreats.

The Manor by JA, located in Al Furjan, offering a seamless base for business travellers near key logistics hubs including Jebel Ali Free Zone and Port.

In the Maldives, JA Manafaru is a natural private island experience in the Haa Alifu Atoll — ideal for honeymoons, full island buyouts, or guests seeking privacy, nature, and true Maldivian hospitality.

Hemant Mediratta, Founder & CEO, One Rep Global, commented:

“JA Resorts & Hotels joining the MICEverse portfolio is a strong endorsement of the organisation’s ability to deliver results. We provide Indian travel professionals with the right tools, content, and direct access to global destinations that are aligned with Indian preferences. Whether it’s an opulent wedding, an incentive retreat, or a multi-generational holiday, MICEverse ensures unmatched value and visibility for our hotel partners.”

Ralph Porciani, CEO of JA Resorts & Hotels, said:

“We are delighted to appoint MICEverse as our strategic partner in India, a market that holds immense long-term value for JA Resorts & Hotels. As a homegrown Emirati brand with a proud heritage and a portfolio spanning the UAE and Maldives, we see a natural synergy in welcoming more discerning Indian travellers to experience our heartfelt hospitality. With excellent connectivity and short travel times, our destinations offer the ideal setting for everything from destination weddings and family celebrations to MICE and multi-generational escapes. This partnership allows us to engage more meaningfully with a market that truly values immersive experiences, personalised service and trusted relationships.”

The announcement also comes at an exciting time for the brand, with the upcoming launch of the JA Sports & Shooting Club — a first-of-its-kind facility in the region, bringing floodlit football pitches, international-standard cricket ovals, and a world-class indoor shooting range to Dubai. Located within JA’s flagship beachfront destination in Jebel Ali, the new facility adds even greater appeal for sports, incentive travel and active celebrations.

JA Resorts & Hotels is also a proud member of the Global Hotel Alliance (GHA), offering guests added value through the GHA Discovery loyalty programme — including rewards, upgrades, and exclusive experiences across a portfolio of 800+ hotels worldwide.

The partnership will drive deeper engagement with Indian corporates, planners, wedding specialists, and travel designers—delivering tailored and memorable travel experiences for one of the world’s most dynamic outbound markets.

business

Tanishq Unveils ‘Rivaah Bridal Insider’ Season 1 with Namrata Soni

Jun 18, 2025 by Neel Achary 0 Comments

New Delhi, 18^th June, 2025: Tanishq’s wedding-exclusive sub-brand Rivaah introduces the ‘Rivaah Bridal Insider’ — a thoughtfully curated styling series designed to be a guide for the brides-to-be as they prepare for their big day. Launched ahead of the summer wedding season and in line with evolving bridal styling trends, the series marks a unique collaboration between Rivaah and celebrated makeup artist and stylist Namrata Soni. Exclusively hosted on Tanishq’s social media platforms, Rivaah Bridal Insider is more than a jewellery guide — it’s a bridal styling masterclass. The series offers actionable insights across key bridal themes such as jewellery selection and personal styling, tailored for diverse Indian wedding occasions. From plain gold to antique gold, diamonds to polki, Rivaah by Tanishq presents a stunning range of jewellery for every bride. With designs that blend modern elegance with timeless tradition, Rivaah celebrates every woman as the queen of her story.

Each episode, anchored by Namrata Soni, dives deep into specific bridal moments — from decoding colour theme to styling statement pieces for the Mehendi and Cocktail, to perfecting the bridal red lehenga look. Whether it’s capturing the natural glow for Haldi, embracing heritage with a twist for Mehendi, or channeling contemporary chic for the Reception, the Rivaah Bridal Insider equips brides with expert tips to own every look with confidence. With Tanishq’s exquisite bridal jewellery and Namrata Soni’s unmatched expertise, this initiative positions Rivaah as the go-to destination not just for wedding jewellery, but as a holistic bridal styling companion.

Commenting on the launch of the series, Pelki Tshering, CMO, Tanishq said, “At Tanishq, women have always been at the core of our purpose. Being a part of their most cherished milestones—especially a moment as personal and profound as their wedding day—is not just an honor; it’s a responsibility we embrace with heart. With Rivaah Bridal Insider, we set out to support today’s bride who increasingly looks to celebrity stylists and Bollywood for inspiration. This initiative is our way of combining expert-led styling advice with our timeless bridal jewellery offering. Our collaboration with Namrata Soni, a name synonymous with contemporary bridal beauty and elegance, brings this vision to life—offering brides across the country a trusted source of inspiration, personalized guidance, and a styling-first approach to wedding jewellery. Through this IP, Rivaah steps in as more than just a jewellery brand—it becomes a true companion in a bride’s journey to express her individuality with confidence.”

Rivaah Bridal Insider is your ultimate guide to turning wedding dreams into reality. So, why settle for anything less when you can have a wedding journey that is extraordinary as your love story.

technology

Metafusion appoints Avinash Trivedi as Chief Growth Officer

Jun 18, 2025 by Neel Achary 0 Comments

Noida, June 18, 2025: Metafusion, the next-generation Vision AI company, has announced the appointment of Avinash Trivedi as its Chief Growth Officer. In this key role, Avinash will lead the company’s growth strategy across enterprise adoption, market expansion, and global partnerships across key sectors.

At Metafusion, Avinash will drive GTM and revenue acceleration across the company’s AI product suite, including Metavisio (video intelligence), Metatraffic (integrated traffic management), PixelFACE (facial recognition), and fuseNETS (Collaborative vision research framework). His appointment comes at a time when the company is rapidly expanding its presence across smart & safe city projects, urban mobility ecosystems, and intelligent traffic and highways and enterprise domain globally.

With over two decades of experience in business development, Avinash brings deep domain expertise in video surveillance, SaaS, and intelligent infrastructure. He joins Metafusion from ZYGAL, where he served as President – Sales & Business Development, spearheading market expansion initiatives and launching new offerings across VSaaS and Command Center-as-a-Service models. Prior to this, he held senior leadership roles at Videonetics, Sony India, and Score Information Technologies, with a proven track record of building high-growth business pipelines across APAC, the Middle East, and Europe.

“I am excited to join Metafusion at such a pivotal moment in its journey,” said Avinash Trivedi, Chief Growth Officer, Metafusion. “What drew me in was the vision and the clarity of purpose. We are shaping the digital nervous system for safer cities, smarter transport, and more responsive infrastructure. I look forward to partnering with our customers, team, and ecosystem to scale meaningful impact.”

Yatin Kavishwar, Founder and CEO, Metafusion, added, “Avinash brings the right blend of enterprise acumen, GTM rigour, and industry foresight that aligns with our mission. As we scale our AI capabilities across sectors, his leadership will be instrumental in building new growth frontiers and deepening trust with our customers and partners globally.”

Founded by Yatin Kavishwar, Saransh Karira and Manish Soni, Metafusion integrates the power of Generative AI, NLP, Computer Vision, and Big Data to deliver actionable intelligence across industries. Its advanced AI layer enables real-time search, decisioning, and insights from video, audio, and metadata, with applications spanning Smart and Safe Cities, Transportation, Surveillance, Warehousing, Retail, and more.

technology

Darwix AI Raises Dollar 1.5M to Boost Omni-Channel Sales with GenAI

Jun 18, 2025 by Neel Achary 0 Comments

New Delhi, June 18, 2025 – Darwix AI has raised $1.5 million in a funding round. Key investors and early believers who participated in this round were Rebalance, IPV, JITO Incubation and Innovation Foundation, alongside Growth Sense, Growth91 and notable angels. Key angel backers include prominent startup leaders Ankit Nagori, Sanjay Suri, Amit Lakhotia, and Mekin Maheshwari.

The fresh capital will fuel Darwix AI’s product development and market expansion efforts. Darwix AI is building an industry–first, deeply integrated omni–channel generative AI stack that provides conversational intelligence, assistance, and automation for sales conversations and is building for large enterprises. This comprehensive approach differentiates it in the burgeoning conversational AI space, which has typically seen point solutions; Darwix’s all-in-one stack is designed to give organisations end to end visibility for the first time on customer interactions and enable them to level up each touchpoint for customers.

Darwix AI has deeply integrated its GenAI conversational stack to power omni–channel interactions for large enterprises in BFSI and Retail with presence cutting across top ten players in key sectors across US, India and the Middle East. With a proprietary multi-tenant LLM stack built on cutting edge integrations across key software stacks and an industry first hardware stack, Darwix AI’s GenAI solution is positioned well to ride this wave of AI adoption in BFSI and Retail. Darwix AI is founded by seasoned startup operators and IIM alumni Ajay Sethi and Hanit Awal, strengthening their product and GTM prowess.

“We’re building Darwix AI to solve a very real gap in how enterprises enhance sales conversations, across voice, chat, email, and in-person interactions. Enterprises today are overwhelmed by fragmented point solutions or just hit with plain blackbox scenarios across interactions. Our goal is to offer a unified, generative AI stack that not only understands but also elevates every customer interaction with actionable intelligence and automation. This fundraise gives us the fuel to double down on product innovation and expand our US footprint,” said Mr. Ajay Sethi, Co-founder, Darwix AI.

Commenting on the funding round, Aishwarya Malhi & Vikas Kumar, Co-founders at Rebalance said, “Sales conversations are the heartbeat of any business, and we believe it’s time they became smarter, faster, and more contextual. Darwix AI is focused on creating an ‘agent+AI’ future. Their traction across BFSI and retail validates this direction, and we’re excited to back them as they scale their impact across industries and geographies.”

With its new funding, Darwix AI is poised to accelerate product development, hire aggressively, and deepen its presence across global markets. The startup will be scaling its omni–channel generative AI conversational platform into more enterprise use cases. As generative AI becomes an integral part of enterprise strategy worldwide, Darwix AI’s ambitious bet on a unified conversational intelligence and automation stack could well position it as a leader emerging out of India in this space.

technology

iQOO launches iQOO Z10 Lite 5G for Fully Loaded 5G Entertainment Experience

Jun 18, 2025 by Neel Achary 0 Comments

New Delhi, June 18, 2025: iQOO, the high-performance smartphone brand, today launched its latest offering – the iQOO Z10 Lite 5G. Designed for today’s youth, from college students to users who want to upgrade to a 5G smartphone, the iQOO Z10 Lite 5G delivers a fully loaded entertainment experience, from binge-watching videos and endless social scrolling to attending online lectures. With functional features packed into a stylish design, the Z10 Lite 5G offers a smart, reliable companion for all aspects of modern life.

Featuring the segment’s biggest 6000mAh battery, the iQOO Z10 Lite 5G is built for non-stop entertainment, delivering all-day power for all day. Powered by the MediaTek Dimensity 6300 5G processor, equipped with smooth 5G connectivity and IP64-rated dust and water resistance, it offers reliable performance and smooth content consumption.

The iQOO Z10 Lite 5G will be available in two color variants: Cyber Green and Titanium Blue. It will go on its first sale starting 25th June at iQOO e-store and Amazon.in. Additionally, on a purchase of iQOO Z10 Lite, customers can avail a flat INR 500 instant discount on select SBI Credit/Debit cards.

Talking about the new addition to the Z series – iQOO Z10 Lite 5G, Nipun Marya, CEO, iQOO, said, “With the iQOO Z10 Lite, we set out to build a phone that truly understands the lifestyle of young India. Whether it’s binge-watching, or staying active on social media—this 5G smartphone is designed to keep up. With a massive 6000mAh battery and a feature set that’s fully loaded, it’s the perfect companion for college students who want everything without compromise.”

Tanmay Shah, Category Leader – Smartphones & Accessories, Amazon India, said, “We are excited to add the iQOO Z10 Lite 5G to our expanding portfolio of 5G smartphones on Amazon.in. Successor to iQOO Z9 Lite 5G, one of the best sellers in the budget 5G segment in 2024, iQOO Z10 Lite 5G is designed to deliver exceptional all-day entertainment and productivity for today’s value conscious consumers who demand reliable performance on the go. With exciting launch offers, we look forward to bringing this powerful smartphone to millions of customers across the country on Amazon.in”

Segment’s Biggest Battery 5G Smartphone

The iQOO Z10 Lite 5G features a massive 6000mAh battery, delivering all-day power for content consumption, learning, and staying connected throughout the day. A 15W charger is included in the box for convenient and hassle-free recharging. Engineered for long-term reliability, the battery retains up to 80% capacity even after 5 years of regular use (1,500 charging cycles).

Tough Enough to Keep Up
The iQOO Z10 Lite 5G is engineered for real-world durability. With an IP64 rating, it resists dust and splashes with ease. The phone also comes with SGS 5-Star anti-fall protection, backed by a rock-solid shock-absorbing structure, and meets MIL-STD-810H military-grade standards for drop and impact resistance. With reinforced corners and internal cushioning, it offers dependable protection from accidental drops off desks or out of pockets.

Smooth and Reliable All-Day Performance

The iQOO Z10 Lite 5G delivers smooth and efficient performance, powered by the MediaTek Dimensity 6300 5G processor, built on 6nm process technology, and achieving an AnTuTu benchmark score of 4.3 Lakh+. It also enhances mobile gaming with Ultra Game Mode, offering quick access to performance tools and mini-windows for smooth switching between apps, ensuring uninterrupted gameplay and multitasking. The Dynamic Volume Booster with AI audio delivers up to 200% louder sound for a more immersive experience.

With dual-mode 5G SIM support, including both NSA and SA bands, the iQOO Z10 Lite ensures strong, stable connectivity across networks.

50MP Sony AI Camera for Stunning Shots

It features a 50MP Sony AI main camera paired with a 2MP bokeh lens, delivering sharp details and natural depth in every frame. Whether shooting in bright daylight or challenging low light, advanced AI imaging algorithms ensure balanced exposure, vibrant colors, and well-defined subjects. On the front, a 5MP selfie camera handles everyday shots, whereas features like Portrait Mode and Super Night Mode ensure better-looking photos in various lighting conditions.

Immersive Display & Stylish Design Built for Entertainment
The iQOO Z10 Lite 5G features a 6.74-inch (17.13 cm) HD+ LCD display with a 90Hz refresh rate, offering smooth scrolling and an immersive feel across apps, games, and videos. Whether indoors or outdoors, the display stays clear with its 1000 nits High Brightness Mode, ensuring comfortable viewing even under bright sunlight. Certified by TÜV Rheinland for Low Blue Light, it helps reduce eye strain during extended use, making it ideal for binge-watching, studying, or casual browsing. Complementing the front is a sleek, minimalist camera design on the back, featuring a classic small-lens layout that balances durability with timeless appeal, blending functionality and aesthetics for a refined, modern look.

The iQOO Z10 Lite 5G will be available in two colour variants- Cyber Green and Titanium Blue.

AI Enhancements & Software

The iQOO Z10 Lite 5G comes equipped with smart AI features. AI Erase removes unwanted elements from photos, AI Photo Enhance restores clarity and color in images, and AI Document Mode quickly converts pictures into clean, shareable digital files. Running on Funtouch OS 15 based on Android 15, the device offers a smooth, user-friendly experience with 2 years of Android updates* and 3 years of security patches. With a 50-month Smooth Usage certification, it’s built to deliver consistent, reliable performance over time.

Continuing iQOO’s commitment to ‘Make in India’, iQOO Z10 Lite 5G devices will be manufactured at vivo’s Greater Noida facility. Also, to offer a hassle-free after-sales service experience to its valued customers, iQOO customers can now visit any 670+ company-owned service centers across the country.

news

From Trauma to Transcendence: Using Spirituality to Reclaim Inner Peace

Jun 18, 2025 by Neel Achary 0 Comments

By – AiR Atman in Ravi, Happiness Ambassador and Spiritual Leader

If we seek to overcome suffering, if we seek peace and bliss, there is only one way and that is through the path of spirituality. Spirituality is the science of the spirit, the Atman. It leads us to spiritual Enlightenment, the highest realization of truth. Through this path, we awaken to our real identity: we are not the body, mind or ego. We are the Soul, a Spark Of Unique Life, a part of the Supreme Immortal Power, SIP we call God. However, to be spiritually awakened, we must intensely and passionately yearn for God, for Enlightenment and Moksha. Realizing God must be the only priority of our life.

Spiritual awakening frees us from the triple suffering— the pain of the body, misery of the mind and agony of the ego. We are the Soul and the Soul never suffers. We realize that the Divine we seek in temples and shrines is already within us. Spirituality gives life a deeper meaning and direction. It anchors us in purpose — and purpose is the root of lasting joy.

The answers to two questions on the path of spirituality are key to spiritual awakening: Who am I? Why am I here? To answer these questions, we need to go on a quest, an inner voyage of self-discovery guided by a Guru. We must ask questions, investigate our findings, only then can we realize the truth. The spiritual practice of meditation is critical on our spiritual journey. It is only when we still the mind, transcend the mind that we can reach the state of consciousness, mindfulness, awareness, where the intellect is activated and in which we can be awakened.

When we realize the truth, we transcend all misery and suffering. We live as a Divine Instrument accepting the Divine Will, in surrender. We do not protest, there is no agitation or unrest. We realize that we are all one, a part of God. This fosters universal love and brotherhood. There are no differences amongst us — no hate, anger, vengeance, jealousy. How can one not be peaceful when all negative emotions and thoughts are transcended? We realize that death is just a bend to transcend. In reality, we never die because we are the immortal Soul. The mind and ego, ME, born out of ignorance, either returns in a new body to settle Karma or transcends the cycle through Enlightenment, attaining Moksha — liberation from rebirth.

We transcend trauma realizing that what happens in life is the unfolding of Karma and ultimately, everything is a drama, an illusion. We realize that this world is a cosmic drama, a show and we are actors who come and go. Jagat Mithya. Prabhu Satya. The only truth is God. Nothing else is. Nothing truly belongs to us; we enter and leave this world empty-handed. Recognizing this, we let go of material aspirations and cravings, choosing instead, a life of fulfillment, peace, love and bliss. This realization sets us free from sorrow, grounding us in SatChitAnanda — the bliss of living in truth consciousness. And when our body comes to its natural end, we return to the Divine. We attain Moksha, merging into the oneness from which we came.

The fact is that very few people attain Enlightenment, the ultimate spiritual goal. While not impossible, it is difficult and needs both the grace of the Divine and the guidance of a Guru, besides intense love and yearning for God, Liberation, Moksha. Nonetheless, embracing spirituality changes us. It fosters peace and tranquility, deepens joy and changes our priorities, the things we love. We learn to see beyond the illusion of the body and mind and recognize our eternal essence — the Soul. Imagine the peace and joy one experiences realizing that we are the very God we worship!

business

VinFast Signs Global Assure to Strengthen Customer Service Network Across India

Jun 18, 2025 by Neel Achary 0 Comments

Chennai, June 18, 2025: VinFast, a leading global electric vehicle manufacturer, today announced its collaboration signing ‘Global Assure’ to strengthen customer service network across India. Global Assure is India’s one of the most trusted customer service providers. This collaboration is designed to deliver comprehensive customer support and innovative mobility solutions across the Indian market, reinforcing VinFast‘s commitment to exceptional customer experience in the rapidly growing electric vehicle segment.

Commenting on the collaboration, Mr. Pham Sanh Chau, VinFast CEO Asia said, As VinFast is gearing up to launch its premium electric SUVs – the VF 7 and VF 6 in India market, this partnership underlines the brand’s commitment to ensure prompt, dependable, and customer- focused support across the country. Global Assure’s strong capabilities and nationwide reach are well aligned with our commitment to quality, convenience, and care. Together, we aim to establish a holistic and reliable electric mobility ecosystem in India that extends beyond our vehicles to offer true peace of mind for our customers.”

Signing the partnership, Manish Vij, Co-founder & CEO, Global Assure, said, “We are excited to be the trusted partner of VinFast’s customer support in India. With Global Assure’s extensive expertise in deep understanding of Indian customer needs and pan-India presence, VinFast customers can expect efficient response times and high-quality service making every journey smoother, safer, and more reassuring for VinFast owners.”

The comprehensive service portfolio will include:

24/7 Customer Support: A dedicated call center staffed with trained professionals to address customer queries and provide immediate assistance around the clock.
Nationwide Roadside Assistance: Emergency roadside support services available across India, ensuring customers are never stranded regardless of location.
Mobile Charging Solutions: On-demand mobile charging services to provide convenient charging options wherever customers may need them.
Mobile Service Operations: A dedicated fleet of emergency support mobile Vans are equipped to ensure prompt on-site visit and assistance to customers during unexpected breakdowns

technology

Alcatel Announces ‘Alcatel Days’ Sale on Flipkart Platform

Jun 18, 2025 by Neel Achary 0 Comments

New Delhi, 18th June 2025: Alcatel, the French consumer tech brand, has announced its Alcatel Days Event in association with Flipkart. The special sale will start on 19th June at 12:00 AM IST. All products from the recently launched V3 Series will be available for tech enthusiasts with exciting offers.

Customers can now avail No Cost EMI options, which have been extended from 3 months to 6 months, making these smartphones more accessible than ever. Apart from these, there will be some other existing bank offers which will be revealed on 19th June 2025.

The Alcatel V3 Ultra is available in two storage variants: 6GB RAM + 128GB storage and 8GB RAM + 128GB storage, with color options including Ocean Grey, Hyper Blue, and Champagne Gold.

Alcatel V3 Pro comes with 8GB of RAM and 256GB of internal storage, supporting up to 10GB RAM expansion, and is available in Metallic Grey and Matcha Green. The V3 Classic is offered in two variants: 4GB RAM + 128GB storage and 6GB RAM + 128GB storage, and comes in Cosmic Grey and Halo White.

The sale ends on 23rd June at 12:00 AM IST. With the launch of the recent V3 Series, the brand has introduced its patented NXTPAPER superior display technology to the Indian audience and has received an overwhelming response from customers within just a month of its launch.

business

UGRO Capital to Acquire Profectus Capital in INR 1,400 Cr All-Cash Deal

Jun 18, 2025 by Neel Achary 0 Comments

Mumbai, June 18, 2025: UGRO Capital Limited , a leading DataTech NBFC focused on MSME lending, today announced a significant development that underscores its commitment to empowering the MSME ecosystem through tailored, embedded financial solutions and expanding its Emerging Market business reach. UGRO Capital has executed a Share Purchase Agreement with the existing shareholders of Profectus Capital Private Limited (“Profectus”) to acquire 100% of the shares of Profectus. This all-cash deal, with the consideration payable in a single tranche at closing shall mobilize proceeds from UGRO’s recently announced equity raise, will deploy capital into a fully secured asset portfolio delivering instant scale benefits with zero origination costs, making Profectus a wholly owned subsidiary. We estimate that this acquisition would add approximately ₹ 150 Crores of annualized profit to UGRO making it a capital adequacy accretive transaction.

The acquisition strategically enhances four core NBFC pillars: Immediate 29% AUM growth diversifies the combined portfolio to accelerate high-yield Emerging Markets and Embedded Finance expansion, while adding School Financing with incremental ₹2,000 Crores medium-term potential, as per our assessment. We estimate significant geographic and product alignment in Secured LAP, Machinery Finance, and Supply Chain Finance which we believe will drive operational efficiencies, generating ₹115 Crores cost savings and adding incremental profitability of ₹150 Crores thus boosting ROA by 0.6-0.7% once a post-acquisition merger is complete. The combined entity’s strengthened asset mix features higher secured assets, thereby providing further impetus to scale Emerging Market and Embedded Finance businesses.

Profectus has demonstrated stable portfolio expansion, building its assets under management to ₹3,468 Crores as of March 2025, with presence across seven states through a 28-branch network and over 800-member team, all while maintaining a gross NPA of 1.6% and Net NPA of 1.1%. Its complementary businesses in secured lending perfectly align with UGRO’s data-driven underwriting platform. To facilitate the discharge of purchase consideration for the proposed acquisition, the Company is proposing to add financing of Profectus’ acquisition as an object of the existing preferential issuance of compulsorily convertible debentures by seeking fresh approval from the board and shareholders. The acquisition is expected to close on fulfilment of customary conditions, including receipt of RBI/shareholder approvals.

Both entities will maintain current operations and strategy during integration.

Reflecting on this acquisition, Mr. Shachindra Nath, Founder and Managing Director of UGRO Capital, said, “This strategically priced acquisition deploys our equity raise to achieve instant scale and ₹115 Crores cost savings and annualized incremental profitability of ₹ 150 Crores thus boosting ROA by 0.6–0.7%. Integrating Profectus’ school finance expertise unlocks ₹2,000 Crores growth potential and strengthens our secured asset mix – accelerating our journey to become India’s largest MSME lender through enhanced Emerging Markets and Embedded Finance capabilities.”

Mr. K.V. Srinivasan, Executive Director & CEO, Profectus Capital, added, “The coming together of the two organisations would be beneficial owing to the synergies and complementarity of the businesses, which should result in greater operational efficiency and profitability for the business. We at Profectus, thank our investors for their unwavering commitment and support throughout our journey, which has helped us to establish a very strong process-oriented business with an excellent portfolio quality.”

With this strategic acquisition, UGRO Capital reaffirms its commitment to driving inclusive economic growth and empowering MSMEs across India, leveraging combined synergies to expand high-yield offerings while maintaining portfolio quality.

InCred Capital acted as the exclusive advisor to UGRO Capital on this acquisition transaction. SNG & Partners was engaged as the legal counsel to the Company. The Company engaged PriceWaterHouse Coopers Services LLP for financial due diligence and Legacy Growth Partners for tax due diligence for the transaction.

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