Infosys Collaborates with Polestar to Set up Tech Hub in India

Key Takeaways from Infosys Collaboration with Polestar:

• Infosys partnered with Polestar to open a new technology hub in Bengaluru, India.
• The partnership will upgrade infotainment for automobiles, software and electrical engineering, user experience, as well as cloud services.
• The hub will focus on developing and validating software for EVs, infotainment, and ADAS.
• This would allow Polestar to strengthen its product management as well as customer engagement by utilising the best possible digital solutions.

The global tech hub would be functioning on the development of electric vehicle (EV) software on validation in areas such as infotainment, Advanced Driver Assistance Systems (ADAS), and telematics. 

The partnership would also strengthen Polestar's product management and customer engagement through advanced digital services.

Jasmeet Singh, Executive Vice President and Global Head of Manufacturing, at Infosys, said, “Building on Infosys' extensive experience in automotive engineering, digital transformation, and global delivery leadership, we aim to bring the infrastructure and innovation to co-create next-generation EV capabilities.”

About Infosys Limited

Infosys is a leader in next-generation digital services and consulting, with more than 300,000 professionals working across over 56 countries. Infosys offers support to clients on their journey of digital transformation. For more than 40 years, Infosys has focused on managing the enterprise systems of its clients through changes in digital-navigating it with the power of cloud and artificial intelligence technologies. This company is dedicated towards constantly driving improvement and innovation, while, at the same time, fostering an inclusive workplace and promoting sustainability.

About Polestar:

Polestar is a Swedish electric performance car brand. It is based in Gothenburg, Sweden and its company believes in design and technology to change the future of mobility, accelerating progress toward a climate-neutral society. The company sells its cars directly on the Internet in 27 markets across North America, Europe, and Asia Pacific. The five performance electric vehicles are planned for 2026, including the Polestar 2 and Polestar 3, with further models such as Polestar 5 and Polestar 6. Polestar is also working on the next target of a climate-neutral production car by 2030 under its project Polestar 0.

Key Takeaways from Prestige Group Launch:

• Prestige Group had launched the Prestige Pine Forest in Whitefield, Bangalore on September 25. 
• This development sprawls over 9 acres and combines 316 units in 4 high-rise towers placed under a strong emphasis on green spaces and modern amenities.
• Ideally located near the key IT parks and more than 50 educational institutions, it is a best place for professionals as well as families.
• Offers three and four bedroom apartments between 2,442 to 3,556 square feet. No adjoining walls guarantee complete personal space.
• Prestige Raintree Park was built next door, with 1,520 luxury homes carrying a promise to produce revenues of Rs 5,000 crores.

Prestige Pine Forest is well connected, which is a few minutes from all key IT parks like ITPL, Outer Ring Road and Sarjapur Road. This ensures perfect comfort for professionals seeking proximity to their workplaces. More than 50 renowned educational institutions have come up close by, making this appeal all the more apt for families.

Prestige Pine Forest covered an area of 9 acres and possessed 316 units in 4 towers that were simply architectural excellence and skill. The 2,442-to-3,556 square feet apartments were extended for the 3-and 4-bedroom apartments, with some flaunting family rooms and large balconies facing sprawling views of the city. Interestingly, no two units share walls, so there is complete privacy for its residents.

With modern lifestyle needs in mind, conference halls and workstations line the lobbies of the towers to provide a productive space for those working from home. Approximate 7 acres of landscaped grounds complete with lifestyle amenities such as a Pet Park and a Fitness Trail also feature in the development.

Commenting on the development, Praveer Shrivastava, Senior Executive VP of Residential at Prestige Group, said, the company is glad to introduce Prestige Pine Forest that speaks volumes of luxury, comfort, and convenience. This project redefines the benchmark for quality and craftsmanship and will become one of the most sought-after residential communities in Bangalore.

Prestige Group, besides Prestige Pine Forest, has unveiled Prestige Raintree Park in Whitefield, yet another gargantuan project that could bring in business worth INR 5,000 crores. This will house 1,520 luxury residences in 18 towers across an expansive 21 acres of land overlooking the picturesque Varthur Lake. Replete with every advanced facility and built on a vast expanse with one of the biggest clubhouse complexes in Bengaluru, a higher life awaits you at Prestige Raintree Park.

About Prestige Group: 

Prestige Group has real estate development experience for more than three decades. The business model diversifies in the following segments: Residential, Office, Retail, Hospitality, Property Management, and Warehouses. The company can boast of a presence in more than 13 major locations across India and has completed over 300 projects across its total developable area of 190 million square feet. The company has scored high ratings as it has been rated with a CRISIL DA1+ and is also rated with an ICRA A+ credit rating, which means commitment to quality and reliability in the real estate sector.

About Prestige Pine Forest:

Prestige Pine Forest is a luxury apartment complex in Pattandur Agrahara, off ECC Road in Whitefield, East Bangalore. The 9 acres of area has 316 units with 3, 3.5, 4, and 4.5 BHK Vaastu compliant apartments. Ultra-luxury with 4 towers at 2 basements plus 15 floors high rise.

Key Takeaways from Adani Enterprises Incorporates New Arm AGCC:

• On 24 September 2024, Adani Enterprises established a wholly-owned subsidiary Adani GCC Private Limited, (AGCC).
• Its authorised and paid-up share capital is Rs 5,00,000, divided into equity shares of a face value of Rs 10 each.
• There is no turnover for the subsidiary as the business operations have not commenced yet.
• AGCC will provide business transformation, back office support, IT services, digital transformation, data processing, and supply chain management.

The authorised and paid-up share capital of AGCC would be Rs 5,00,000 divided into equity shares of the face value of Rs 10 each. As of now, the company does not have any turnover because it does not have business operations yet.

The subsidiary would focus on a diverse set of services such as business transformation, back office support in finance and accounts and human resources, IT services, digital transformation, data processing and supply chain management.

About Adani Enterprises Limited:

Adani Enterprises Limited (AEL) is part of the Adani Group, a mega company in India's energy and infrastructure sectors, having completed large projects. AEL is viewed as one of the largest business incubators listed in India and operates in four key areas of business - energy and utility, transportation and logistics, consumer goods, and primary industry. The firm does well balancing old well-established ventures with emerging businesses.

Since its inception, AEL has developed new business ideas under the Adani portfolio. By providing them additional time to mature into significant, standalone companies, it has regularly added value to the shareholders. Over the past 25 years, AEL incubated and listed six companies: Adani Ports, Adani Power, Adani Transmission, Adani Green Energy, Adani Total Gas, and Adani Wilmar of which have returned very significantly to investors.

Key Takeaways from the Acquisition

• Cipla will acquire 6.9124% of Cipla Jiangsu, making it a wholly-owned subsidiary.
• The deal is valued at RMB 35,849,118.
• The acquisition is expected to be completed by November 15, 2024.

Cipla (Jiangsu) Pharmaceuticals Co., Ltd., established in 2019 as a joint venture, specializes in manufacturing and distributing pharmaceutical products, with a focus on inhalation results. Before the acquisition, Cipla (EU) Limited held 93.0876% equity in Cipla Jiangsu, while Jiangsu Xidi Pharmaceuticals owned 6.9124%. Cipla has now agreed to purchase the remaining shares for RMB 35,849,118 in cash, making Cipla Jiangsu a fully owned subsidiary of Cipla (EU) Limited.

The acquisition is classified as a related party transaction, carried out following the existing joint venture agreement between Cipla and Jiangsu Xidi. It will be conducted on an arm’s length basis, with no additional involvement from Cipla’s promoter group.

The transaction is subject to regulatory approvals from Chinese authorities as well as compliance with all applicable laws. The process is expected to conclude by November 15, 2024.

The acquisition is expected to provide Cipla with full control over Cipla Jiangsu’s operations, strengthening its footprint in the Chinese pharmaceutical market.

About Cipla Limited

Cipla is a leading pharmaceutical company, ranked as the 3rd largest in India’s domestic prescription (Rx) market. It holds leadership positions in generics (Gx) and respiratory therapies and ranks among the top five in urology and anti-infectives. The company also has a strong digital presence with over 500,000 downloads for its "Breathe Free" app and a field force of over 7,500 representatives, 85% of whom regularly prescribe Cipla products. Cipla is the 3rd largest player in the private Rx market in SAGA (South Africa, Sub-Saharan Africa, and Global Access) and is the fastest-growing generic player in North America.

Cipla boasts a diversified portfolio with over 1,500 products in more than 50 dosage forms, covering 65 therapeutic categories. In FY22 alone, the company launched 93 products globally.