Finnish telecom equipment firm Nokia today said it has patterned with Indian Institute of Technology -Madras (IIT-M) to create solutions that will allow to provide cost-efficient broadband connectivity in rural areas using unlicensed spectrum.
As part of the three-year partnership, Nokia will fund and provide technological expertise for research at IIT-M's Center of Excellence for Wireless Technology (CEWiT).
The project will evaluate the option of using unlicensed spectrum to deliver cost-efficient, last-mile broadband connectivity to remote rural communities in India, complementing the government's National Optical Fibre Network (NOFN) initiative, Nokia said in a statement.
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Adani Power 25 cr share preferential issue * Adani Power has allotted 25 crore equity share to Gautambhai Shantilal Adani and Rajeshbhai Shantilal Adani at price of Rs 28 per unit on preferential basis.
"The Management Committee of Board of Directors of company has on February 9, 2016 allotted 25 crore) equity shares to Gautambhai Shantilal Adani and Rajeshbhai Shantilal Adani (On behalf of S B Adani family Trust) at a price of Rs 28 per share (including premium of Rs 18 per share) on preferential basis," Adani Power said in a BSE filing.
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Irish Institutes to offer scholarships for Indian students * 'Education in Ireland', the umbrella brand under which Irish higher education institutions are promoted overseas, is organising education fairs in India from February 20 to 28.
The fairs will bring together 12 of the top educational institutes from Ireland in Delhi, Bengaluru, Chennai and Kochi, "Education in Ireland", said in a statement.
Enterprise Ireland, a Government body, manages the Education in Ireland, the national brand under the authority of the Minister for Education and Skills. It will be held in Delhi on February 20, in Bengaluru on February 21, in Chennai on February 27 and in Kochi on February 28, the statement added.
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Hero Cycles partners Flipkart to go online
* Flipkart today said it has partnered Hero Cycles to exclusively launch three new models on its platform.
The three models -- Hero Mega Star 26" (18 Speed), Studd 26T (18 Speed) and Studd 26T (S.Speed) -- are priced at Rs 8,999, Rs 8,555 and Rs 6,350, respectively.
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360Ride expands ride-sharing service in Delhi-NCR * 360Ride, a Bengaluru-based startup offering P2P-powered ride-sharing platform, today announced expansion into the Delhi-NCR market.
The new service will allow commuters to offer/share a ride with people travelling on the same route, thereby reducing congestion and commuting fares as well, 360Ride said in a statement.
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Nokia, IIT-Madras ink pact on rural broadband connectivity * Nokia has inked a pact with IIT Madras to provide broadband connectivity in rural areas.
In the three year partnership, Nokia would fund an "undisclosed sum" besides sharing of knowledge with IIT Madras Centre of Excellence for Wireless Technology, aimed at providing cost-efficient last mile broadband connectivity in remote rural areas, Nokia VP and Head India region, Sandeep Girotra said.
Sunil Ramrakhiani joins Equirus Capital
* Equirus Capital, a full-service investment bank, today said it has appointed Sunil Ramrakhiani as the CEO of its wealth management vertical, which will be launched shortly.
This wealth management vertical is a part of Equirus' strategy for broad-basing the financial services.
Sunil, who was the managing partner of Crystal Path Capital Advisors prior to joining Equirus, is credited to have identified and set up Algorithm and high frequency trading (HFT) team - AlphaGrep Securities while working as a chief operating officer at Way2Wealth Securities, a Coffee Day venture.
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IIMB inks pact with IIIT-B to share expertise in tech and mgt * Indian Institute of Management Bangalore today said it has entered into an MoU with the International Institute of Information Technology Bangalore (IIIT-B) with an objective of sharing their expertise in areas of technology and management respectively with start-ups being incubated in their respective innovation centres.
The institutions will work together to provide technology and business mentorship aimed at helping young technology startups and entrepreneurs achieve sustainable business growth in the Indian startup landscape, IIMB said in a release.
The IIIT-B Innovation Centre was started in 2009 and is currently incubating 17 startup companies that are developing innovative IT-based products to solve problems in areas such as healthcare, transportation and energy.
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IPL-9 most viewed event on TV
* Broadcaster Sony Pictures Networks India today said the Indian Premier League (IPL) season 9 was viewed by 54 per cent of India's total television viewing audiences, making it the most viewed event on pay TV.
The just concluded ninth season of the popular T20 tournament had a cumulative reach of 361 million viewers, it said in a statement.
The May 29 final match between Sunrisers Hyderabad and Royal Challengers Bangalore had 121 million TV viewers, a 55 per cent jump over the event cumulative reach average, it said.
HGS Colibrium CEO Mark Poling resigns
* Hinduja Global Solutions Colibrium today said its CEO Mark Poling has resigned and is leaving as a founder to pursue other interests.
As a result of this, he now ceases to be a shareholder of HGS Colibrium Inc, the company said in a statement.
Consequently, the effective shareholding of HGS has increased from 89.9 per cent to 95.2 per cent, it added.
"Mark's vision and leadership have helped Colibrium become a leading provider of individual, medicare and small group sales and enrollment software for health insurance plans," HGS Executive Vice President and Head of Healthcare Business Ramesh Gopalan said.
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Cyfuture to set up new data centre with Rs 50 cr investment * IT firm Cyfuture will build a new data centre with an initial investment of Rs 50 crore (about USD 8 million) in Noida, Uttar Pradesh.
The new data centre, with an initial capacity of 500 racks, will be an addition to its already existing facilities in Noida and Jaipur, Cyfuture said in a statement today.
Construction work is in progress and the facility is expected to be operational by the end of the current calendar year, it added.
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Finance Buddha disburses consumer loans worth Rs 100 cr * Fintech startup Finance Buddha today said it has disbursed over Rs 100 crore in consumer loans in May this year.
"We are using our omni-channel distribution strategy coupled with a huge technology multiplier which helps in seamless matchmaking and recommendations... We feel that we have built significant scale in this space," Finance Buddha co-founder and CEO Parth Pande said in a statement.
Finance Buddha, which has offices in 12 cities, has originated loans upwards of Rs 1,000 crore in 2015-16.
Present both online and offline, the company offers a marketplace for lending products like personal loans, business loans, home loans and loan against property. It aims to disburse over Rs 2,000 crore worth of loans in the next financial year.
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Wok Express to invest Rs 120 cr for pan-India expansion * Quick service restaurant Wok Express plans to spend Rs 100 crore as it expands its presence in Mumbai and enters new markets like New Delhi and Bengaluru.
"Wok Express will open 20 more outlets in Mumbai by 2017, investing about Rs 20 crore in its Mumbai expansion and further invest over 100 crore to set up a chain of over 100 outlets across Delhi, Pune, Hyderabad and Bengaluru," it said in a statement today.
The investment would be funded through internal accruals and will be spread over five years.
The company is promoted by family members of Ajanta Pharma, the statement said.
