FSN E-Commerce Expand Portfolio in Saudi Arabia

Key Takeaways from the FSN E-Commerce Expansion:

• FSN E-Commerce Ventures Ltd has incorporated a wholly-owned subsidiary, Nysaa Trading LLC (Nysaa KSA), in Saudi Arabia.
• The subscribed share capital for Nysaa KSA has been set at Saudi Riyal 300,000.
• The incorporation will have the effect of further bolstering FSN's footing within the Saudi Arabian beauty and personal care market.
• This is an extension of FSN E-Commerce Ventures' plan for expansion and consolidation in international markets, where the need for beauty products is continually on the rise.
• Nysaa KSA has been developed to provide the company with a footprint in the global retail industry.

The subscribed share capital of Nysaa Trading LLC has been fixed at Saudi Riyal 300,000. The move has been designed to progress the business interests of the parent firm into building a prominent foothold in the region for beauty and personal care products.

The deal epitomises the expansion of the company FSN E-commerce Ventures according to the ongoing strategy aimed towards capitalising on the burgeoning market for beauty products around the globe and solidifying the company's foothold in the global retail landscape.

About FSN E-Commerce Ventures Limited:

Launched in 2012, FSN E-Commerce Ventures Limited, went by the name Nykaa but adopted the identity of a digital natively consumer technology company and diversified into lifestyles and business-to-business services through portals such as Nykaa Fashion, Nykaa Man, and Superstore. All these years, Nykaa has maintained the loyalty of Indian customers generating traffic to its 187 offline and online sites as of March 31, 2024, and building active communities with informative content. Authenticity and a customer-centric approach have made Nyka a number-one retailer for global businesses that want to enter the Indian market.

Other power brands that they carry in their store are Kay Beauty, Nykaa Naturals, Nykd and several others. An efficiently designed supply chain coupled with marketing savvy precipitates the buying experience that the Global Store on Nykaa offers. The company has won many awards for its contribution to India's beauty and lifestyle retail industries. They have been voted the Consumer Company of the Year by VCCircle and also featured in the TIME100 Most Influential Companies List.

Key Takeaways from HFCL Partnership with GA-ASI:

• HFCL Limited has partnered with GA-ASI to design the key structural and mission components of next-generation unmanned aerial vehicles.
• Through this partnership, HFCL shall be an associate in sub-system development for existing as well as future ones from GA-ASI, further embedding India's commitment to Defense Technology.
• A significant part of the project is a lightweight radar sub-system configured to meet military specifications.
• The subsidiary of HFCL, Raddef, would be the most critical contributor as it specialises in radar solutions.
• The new Drone Detection Radar being developed by HFCL will also be a major part of the latest versions of security systems.

The collaboration between HFCL and the renowned US-based leading developer of unmanned aircraft systems, GA-ASI, is a critical step by HFCL to become an important player in the fast-growing UAV market.

The co-development will involve making sub-systems for present and future UA of GA-ASI, which happens to be an increasing investment of India in defence technology. The order has particularly noted the strong research and development capabilities.

The lightweight radar sub-system, a key component of this co-development, will have to meet all military-type requirements. HFCL's products are renowned for their durability and effectiveness in difficult conditions strengthening its position in the defence sector.

Raddef, a subsidiary of HFCL, would thereafter emerge as a crucial contributor to this endeavour. The company's progress in the area of radar solutions development is quite renowned in the industry. Moreover, a new Drone Detection Radar is in development and it will play a crucial role in today's and tomorrow's security systems. This alliance with GA-ASI appears to be a significant stride in the quest undertaken by HFCL for innovation in defence technology.

“Our selection by General Atomics Aeronautical Systems Incorporated to develop critical sub-systems for the UAVs is a proud moment for us and reflects our unwavering commitment to the Make in India initiative. These drones, with their versatile applications, symbolise our resolve to contribute to the defence forces with cutting-edge technology”, Mahendra Nahata, Managing Director of HFCL said. 

About HFCL Limited:

HFCL Limited is a leading technology company that has been operating since the year 1987 in the design, development, and manufacturing of digital networks for telecommunication, enterprises, and governments. The greatest strength of this company lies in its strong R&D capabilities along with a commitment to delivering sustainable high-tech solutions. Its manufacturing plants are located in some of the most modern manufacturing plants, located in Hyderabad, Goa, and Chennai, where it produces a wide product portfolio ranging from optical fibre cables, and 5G telecom equipment, to defence electronics. Operating across India, Europe, Asia Pacific, the Middle East, Africa, and the USA, HFCL is positioning itself as an organisation that can be counted upon for quality and environmental sustainability.

Key Takeaways from HFCL Partnership with GA-ASI:

• HFCL Limited has partnered with GA-ASI to design the key structural and mission components of next-generation unmanned aerial vehicles.
• Through this partnership, HFCL shall be an associate in sub-system development for existing as well as future ones from GA-ASI, further embedding India's commitment to Defense Technology.
• A significant part of the project is a lightweight radar sub-system configured to meet military specifications.
• The subsidiary of HFCL, Raddef, would be the most critical contributor as it specialises in radar solutions.
• The new Drone Detection Radar being developed by HFCL will also be a major part of the latest versions of security systems.

The collaboration between HFCL and the renowned US-based leading developer of unmanned aircraft systems, GA-ASI, is a critical step by HFCL to become an important player in the fast-growing UAV market.

The co-development will involve making sub-systems for present and future UA of GA-ASI, which happens to be an increasing investment of India in defence technology. The order has particularly noted the strong research and development capabilities.

The lightweight radar sub-system, a key component of this co-development, will have to meet all military-type requirements. HFCL's products are renowned for their durability and effectiveness in difficult conditions strengthening its position in the defence sector.

Raddef, a subsidiary of HFCL, would thereafter emerge as a crucial contributor to this endeavour. The company's progress in the area of radar solutions development is quite renowned in the industry. Moreover, a new Drone Detection Radar is in development and it will play a crucial role in today's and tomorrow's security systems. This alliance with GA-ASI appears to be a significant stride in the quest undertaken by HFCL for innovation in defence technology.

“Our selection by General Atomics Aeronautical Systems Incorporated to develop critical sub-systems for the UAVs is a proud moment for us and reflects our unwavering commitment to the Make in India initiative. These drones, with their versatile applications, symbolise our resolve to contribute to the defence forces with cutting-edge technology”, Mahendra Nahata, Managing Director of HFCL said. 

About HFCL Limited:

HFCL Limited is a leading technology company that has been operating since the year 1987 in the design, development, and manufacturing of digital networks for telecommunication, enterprises, and governments. The greatest strength of this company lies in its strong R&D capabilities along with a commitment to delivering sustainable high-tech solutions. Its manufacturing plants are located in some of the most modern manufacturing plants, located in Hyderabad, Goa, and Chennai, where it produces a wide product portfolio ranging from optical fibre cables, and 5G telecom equipment, to defence electronics. Operating across India, Europe, Asia Pacific, the Middle East, Africa, and the USA, HFCL is positioning itself as an organisation that can be counted upon for quality and environmental sustainability.

Key Takeaways from AU Small Finance Bank Collaboration:

• AU Small Finance Bank has tied up health insurance products with Niva Bupa Health Insurance Company.
• These can then be used by new and old customers and other customers with various health insurance products that include health, personal accident, and critical illness plans.
• AU SFB will have 2,414 touchpoints across India and Niva Bupa will have a network of 210 branches in 22 states and 4 union territories to benefit the customers.
• The partnership would offer better personalised and customer-centric health insurance services within a wider scope.

Niva Bupa's retail and group health insurance products, including health, personal accident, and critical illness plans, across 2,414 touchpoints in India, will be available to both new and existing AU SFB customers as well as former Fincare SFB customers. The entire effort is intended to offer an affordable and transparent value proposition through the leverage of technology and service modules.

The partnership will leverage Niva Bupa's 210 physical branches spread across 22 states and 4 union territories, while AU SFB will use its strong presence in all facets of its distribution to deliver more customised and customer-centric health insurance solutions to the masses.

Krishnan Ramachandran, MD & CEO, Niva Bupa Health Insurance Company Limited, said, “To realise the vision of 'Insurance for All by 2047’, we must focus on distribution and ensure that we reach out to every individual in the country. Our partnership with AU Small Finance Bank will help us expand our distribution reach and offer comprehensive health insurance solutions to their customer base.”

“By forging an alliance with Niva Bupa Health Insurance Company Limited, we will strengthen our branch banking value proposition through embedded and personalised health insurance solutions that will elevate the well-being of our valued customers”, Uttam Tibrewal, Executive Director and Deputy CEO, AU Small Finance Bank said.

About AU Small Finance Bank Limited: 

AU Small Finance Bank Limited is India's largest small finance bank that started operations in April 2017 with a legacy of 29 years of experience in rural and semi-urban markets. The bank offers its customers a complete range of services, ranging from video banking available 24/7, credit cards, to banking on WhatsApp services being made possible through its highly rated mobile banking app, AU0101.It operates through 2,414 branches across 21 states and 4 Union Territories. Maintaining high ratings in terms of credit, the bank currently carries the ratings of 'AA/Stable' from CRISIL, ICRA, CARE Ratings, and India Ratings. The fixed deposits carry the ratings of 'AA+/Stable' from CRISIL, and the bank is listed both on NSE and BSE.

About Niva Bupa Health Insurance Company Limited:

Niva Bupa Health Insurance Company Limited, formerly a brand name Max Bupa, aims to make good health care available to all Indians. It is owned by the Bupa Group and Fettle Tone LLP and runs over 200 branches, covering more than 140,000 agents, 64 banks, and 486 brokers with over 14 million lives covered and over 10,400 hospitals as of March 31, 2024. The company settles claims above 90% for the last three years and offers employment to more than 7,500 people.