Tata Tech and BMW Group Launches BMW TechWorks India Joint Venture

Key Takeaways from Tata Tech and BMW Group Launch:

• Tata Technologies and BMW Group launched their joint venture, BMW TechWorks India, on October 8.
• The joint venture will start with 100 employees in Pune, Bengaluru, and Chennai, aiming to grow to over four digit by the end of 2025.
• BMW TechWorks India will focus on developing software solutions for next-generation vehicles and improving digital experiences for customers.
• The initiative is part of BMW's strategy to utilize India's engineering talent for automated driving and digital automotive services.

The joint venture will begin operations with 100 employees across Pune, Bengaluru, and Chennai, and plans to expand its workforce to over four digit by the end of 2025. 

BMW TechWorks India will develop scalable software solutions for next-generation vehicles and enhance digital experiences for BMW customers. 

The initiative is part of BMW’s global strategy to leverage India’s engineering talent in creating software solutions for automated driving, digital infotainment, and other automotive services.

About Tata Technologies Limited:

Tata Technologies (BSE: 544028, NSE: TATATECH) is a global company that provides product engineering and digital services. Its goal is to help customers create better products and enhance their experiences in driving, flying, building, and farming. Businesses choose Tata Technologies as their engineering partner to improve their operations. The company helps manufacturers design and develop safer and cleaner products that benefit everyone, working towards its vision of #EngineeringABetterWorld.

About BMW Group: 

In India, the BMW Group has been operational since 2007 and currently employs around 650 people. Its headquarters are located in Gurugram, near New Delhi, which also features a training center. The group’s presence in India includes a production plant in Chennai, a spare parts warehouse in Pune, and a dealer network in major cities. In 2023, BMW Group India achieved its best annual performance, selling 14,172 units of BMW and MINI vehicles, along with 8,768 units of BMW Motorrad.

For several years, the BMW Group has been consolidating its digital expertise across various global locations, ensuring its IT and software knowledge is secure for the long term. Currently, over 15,000 employees worldwide are involved in software development and Business IT for the BMW Group and its joint ventures, with offices in countries like the USA, Portugal, Germany, Romania, South Africa, India, and China. The launch of BMW TechWorks India marks another important step in the group's growth strategy, reinforcing its status as a leader in automotive software and business IT.

Key Takeaways from Infosys and Microsoft’s Collaboration

• Infosys and Microsoft are deepening their partnership to accelerate the adoption of generative AI and Microsoft Azure across industries globally.
• The collaboration targets several sectors, including financial services, healthcare, supply chain, telecommunications, energy management, and customer service, offering innovative AI-powered solutions tailored to each industry’s needs.
• Both the firms are committed towards the greater ethics of AI by initiatives like The Microsoft Responsible AI Partner Initiative, under which Infosys is actively contributing with the development of its Responsible AI Office.

The Infosys and Microsoft relationship started with Infosys becoming the first-adopter user of GitHub Copilot, through which Infosys has achieved substantial efficiencies in code modernisation and completion. Over 18,000 developers at Infosys have generated more than 7 million lines of code so far using Copilot. Infosys is the first company globally to establish a Centre of Excellence on GitHub, thus positioning Infosys uniquely for enterprise AI innovation globally.

As part of this expanded collaboration, Infosys has been selected as a strategic supplier to support Cloud and AI workloads for Microsoft's enterprise customers. The company will integrate Microsoft's generative AI suite into its Solution IP portfolio, providing unique capabilities that help clients achieve cost efficiency, scalability, and agility.

Infosys and Microsoft are further expanding their strategic collaboration to focus on the adoption of generative AI as well as the success for use across various industries. The Infosys Finacle platform with its integration will clearly help with the company's benefits of financial services on top of which will be drawn advanced AI technologies of Microsoft. In the healthcare space, Infosys' AI/ML-driven platform Infosys Helix built on Azure optimizes patient care and operational efficiency. This partnership will also make Infosys TradeEdge integrate more flexibly with Azure OpenAI services to let businesses make smarter, more adaptable decisions in a dynamic environment.

The collaboration extends to other critical sectors as well, including telecommunications, energy management, and customer service. For telecom companies, the integration of Microsoft’s generative AI with Infosys Live Operations platforms will improve connectivity and customer experiences. Energy management solutions from Infosys, aligned with Microsoft’s sustainability initiatives, will help businesses on their NetZero journey. Moreover, the integration of Microsoft’s Copilot into Infosys Cortex will enhance customer service operations, allowing companies to deliver personalised, real-time assistance to clients. Many of these solutions will be accessible through Azure Marketplace, enabling customers to utilise their Microsoft Azure Consumption Commitment (MACC).

Infosys has been identified as one of the strategic suppliers to help support Cloud and AI workloads within the enterprise offering by Microsoft. The company will integrate Microsoft's generative AI suite into its Solution IP portfolio and thereby deliver unique capabilities, foster cost efficiency, scalability, and agility for clients.

Commenting on the collaboration, Anand Swaminathan, EVP and Global Industry Leader - Communications, Media and Technology, Infosys, said, “This collaboration addresses various business problems by delivering heightened value to clients through a customer-centric approach, providing scalability, agility, and cost-efficiency across key sectors like Finance, Healthcare, Supply Chain, and Telecommunications. As Infosys and Microsoft embark on this transformative journey together, we are poised to redefine industry standards and empower organizations to thrive in the era of generative AI.” 

Nicole Dezen, Chief Partner Officer at Microsoft, added, “Our expanded collaboration with Infosys will transform industries, enhance business operations, elevate employee experiences, and deliver new value for customers. Together, we will harness the power of generative AI to deliver innovative solutions, drive AI Adoption and enable unprecedented innovation for customers.”

About Infosys Limited

Infosys is a leading global provider of next-generation digital services and consulting. With a workforce of over 300,000, the company focuses on enhancing human potential and creating new opportunities for individuals, businesses, and communities.Infosys helps more than 56 countries' clients navigate their digital transformation, counting more than four decades of experience managing global enterprise systems. Company specialising in cloud and AI technologies, where it empowers clients to leverage AI first and agile digital solutions at scale. Infosys is committed to continuous improvement through ongoing learning and transferring of skills from its innovation ecosystem, and points specifically to sustainability and inclusivity in the workplace.

Key Takeaways from Welspun Enterprises Order Win:

• Welspun Enterprises Limited has won a significant contract of Rs 1,989.40 crore from the Brihanmumbai Municipal Corporation.
• This project involves creating a Tertiary Treated Water Conveyance Tunnel from the Dharavi Wastewater Treatment Facility to the Ghatkopar Wastewater Treatment Facility.
• The contract includes the construction of two deep shafts at the Ghatkopar and Dharavi facilities, along with an 8.48 km tunnel lined with reinforced concrete. 
• The tunnel will be built using a tunnel boring machine (TBM) and is expected to be completed in 93 months.
• Additionally, the company’s subsidiary, Welspun Michigan Engineers, has received a project worth Rs 24.60 crores for wastewater treatment in Maharashtra.

This project involves creating a Tertiary Treated Water Conveyance Tunnel from the Dharavi Wastewater Treatment Facility to the Ghatkopar Wastewater Treatment Facility.

The contract includes the construction of two deep shafts at the Ghatkopar and Dharavi facilities, along with an 8.48 km tunnel lined with reinforced concrete. 

The tunnel will be built using a tunnel boring machine (TBM) and is expected to be completed in 93 months.

Additionally, the company’s subsidiary, Welspun Michigan Engineers, has received a project worth Rs 24.60 crores for wastewater treatment in Maharashtra.

About Welspun Enterprises Limited:

Welspun Enterprises Limited (WEL), part of Welspun World, is a company that develops infrastructure, mainly in the areas of roads, water, and wastewater. They also invest in oil and gas exploration. With a strong management team and solid support from its parent company, WEL has successfully completed many water supply projects and over 1,000 kilometers of road projects.

Key Takeaways from the IPO Issue

• Pranik Logistics Limited will launch its Initial Public Offering (IPO) from October 10 to October 14, 2024, with anchor bids opening on October 09, 2024.
• The IPO will issue up to 29,18,400 equity shares, with a price range of ₹73 to ₹77 per equity share, and a face value of ₹10. The minimum order quantity is set at 1,600 shares, which retail investors can purchase up to a maximum amount of ₹2,00,000.
• Proceeds of the IPO will be utilised for investment in technology and ERP systems, capital expenditure to expand infrastructure, working capital requirements, and a portion for general corporate purposes, not more than 25% of gross proceeds.

The face value of equity shares is ₹10, and the price band for shares would be ₹73 to ₹77. The minimum order quantity and the bid lot are 1,600 shares each. There is a total limit of ₹2,00,000 for a retail investor. The IPO will undertake a 100% book building process, and for this purpose, Narnolia Financial Services Limited has been appointed as the book running lead manager.

According to its prospectus, Pranik Logistics Limited intends to use the IPO proceeds for multiple strategic purposes. The company plans to invest in ₹80 lakh for technology and ERP systems that will enhance operational efficiency and streamline processes. In addition, ₹220 lakh has been set aside for capital expenditure and infrastructure development that will help scale up infrastructure and improve service capabilities. A significant portion of the funds, amounting to ₹1,200 lakh, will be dedicated to meeting working capital requirements, ensuring smooth day-to-day operations.

The remainder of the net proceeds from the issue will also be applied to general corporate purposes, which, however, will not exceed 25% of the gross proceeds from the issue. Amount to be set towards general corporate purposes has not been declared so far. To summarise, these investments are targeted to help Pranik Logistics move forward in its growth curve and optimise its benefits position in the competitive logistics industry.

Investors should be aware of the cut-off time for UPI mandate confirmation, which is set for October 14, 2024, at 5:00 PM. It is crucial to submit UPI applications well in advance to avoid any last-minute technical issues that may hinder participation in the IPO. As per SEBI circular no SEBI/HO/CFD/DIL2/CIR/P/2019/76 dated June 28, 2019, intermediaries are required to retain physical application forms submitted by retail individual investors using UPI as a payment mechanism for six months before forwarding them to the issuer or registrar. However, electronic form printouts do not need to be retained or sent.

The IPO market timings would be from 10:00 AM to 5:00 PM during the issue period. Subscription categories would be Qualified Institutional Buyers (FI), Individual Investors (IND), Mutual Funds (MF), Foreign Institutional Investors (FII), and more. In the case of UPI applications under IND category, the amount would be ₹5 lakhs. Before investing one needs to go through the risk factors mentioned in the Red Herring Prospectus.

About Pranik Logistics Limited

Pranik Logistics Limited is an integrated logistics service provider in India, established in 2015. Being one of the largest all-inclusive logistics companies, it operates as a freight forwarder and transporter. The company is providing services to clients from diversified industries such as retail, consumer durables, telecommunication, manufacturing, and pharmaceuticals via transportation, warehousing, material handling, and freight forwarding. Pranik Logistics has 86 commercial vehicles that may be rented if required. Furthermore, the company directly operates 30 warehouses.