Brainbees Solutions Ltd, the multi-channel retail platform that runs the ‘FirstCry’ brand, had a successful initial public offering (IPO) on Tuesday. The NSE listed price of a FirstCry share was INR 651, which was 40% more than the issue price of INR 465.00 per share.
Shares of FirstCry were launched on BSE at INR 625 each, representing a premium of 34.41%.
The market anticipated FirstCry’s IPO listing on Tuesday. Grey market indicators pointed to a successful launch of Brainbees Solutions shares prior to the listing. The grey market premium, or FirstCry IPO GMP, on August 13, 2024, was INR 80, which, according to stock market observers, was approximately 17% higher than the upper price range of FirstCry IPO.
IPO’s Particulars
Brainbees Solutions’ initial public offering (IPO) was offered for subscription to the general public from August 6 to August 8. August 13, was the first day of the FirstCry IPO, which had its allotment determined on August 9.
The company raised INR 4,193.73 crore at the upper end of the price band for its first public offering (IPO), which was set at INR 440 to 465 per share. A total of 3,58 crore equity shares, with a face value of 1,666 crore INR, and 5.44 crore shares, with an OFS component, totalling 2,527.73 crore INR, made up the book-built issue.
According to subscription data on NSE, the FirstCry IPO was oversubscribed by 12.22 times, with bids for 60.64 crore equity shares compared to 4.96 crore shares on offer.
A total of 2.31 retail bookings, 19.30 QIB bookings, and 4.68 NII bookings were recorded for the initial public offering.
Company’s Future Plans
Among the many planned uses for the IPO money are the opening of additional “BabyHug” and “FirstCry” retail locations, growth into new global markets, investments in data science and technology, and other business expansion projects.
The major book-runners for the FirstCry IPO are Kotak Mahindra Capital Company Ltd, Avendus Capital Pvt Ltd, JM Financial Ltd, Bofa Securities India Ltd, and Morgan Stanley India Company Pvt Ltd. The issue is being registered by Link Intime India Pvt Ltd.
With its FirstCry brand, Brainbees Solutions Ltd has become the leading multi-channel retailer in India for products for moms, infants, and children. The company has established itself as a frontrunner in the specialised but fast-expanding sector because of its extensive product line and robust online and offline presence.
In addition to India, FirstCry is increasing its presence in certain other foreign countries. Financially, Brainbees Solutions was all over the place in FY24, despite the company’s dominant market position. Net sales for the quarter came to INR 6,480.9 crore, and the company’s EBITDA was INR 70.5 crore.
In order to expedite the antitrust clearance process for their $8.5 billion merger of Indian media holdings, Reliance and Walt Disney have reportedly offered to sell some channels. However, they are reportedly fighting any adjustments made to the cricket broadcast rights that they own.
With a combined 120 TV channels and two streaming services, the Reliance-Disney merger, which was announced in February, is sure to be closely watched by antitrust experts. This is because it will result in creating India’s largest entertainment platform, locking horns directly with Sony, Netflix, Amazon, and Zee Entertainment.
The Merger Will Have an Upper Hand
Many are worried about the combined business’s pricing power and its influence on advertisers, especially since Reliance, owned by Asia’s wealthiest man Mukesh Ambani, will own a majority stake in the combined entity. The combined company will also own valuable cricket broadcasting rights worth billions of dollars.
Reliance and Disney have informed the Competition Commission of India (CCI) that they are prepared to sell a small number of television channels (less than ten) in order to allay fears of market dominance and secure early clearance, after the watchdog’s secret requests for approximately one hundred questions pertaining to the merger. There are other stipulations that pertain to regional Indian language channels that the two firms might control.
This Is Not the First Time Such a Merger Is Happening
During the year 2022, Zee and Sony made an offer to sell three television stations in order to create a television behemoth in India that would be worth ten billion dollars. However, despite the fact that this helped them get clearance from the CCI, the merger ultimately failed.
The notification that was issued by the Competition Commission of India (CCI) to approve that merger included information about the competitive landscape. The notification revealed that in the local language of Marathi, Disney and Reliance channels had a combined market share of between 65 and 75 per cent at that time. A market share of up to 50 per cent was held by the two with regard to Bengali language entertainment channels.
Cricketing Rights Play a Vital Role
Cricket is an additional area of disagreement in the merger procedure. In India, the sport has a devoted fan base, making the matches highly desirable for sponsors.
The Indian Premier League (IPL), the most prestigious cricket event in the world, and other major leagues’ digital and television cricket rights would be owned by Reliance-Disney.
So far, the CCI has not voiced any worries about the firms’ market strength in cricket rights, but the corporations have argued with the CCI that the rights cannot be sold at the moment because they expire in 2027 and 2028.
According to a report, the corporations are also worried that the approval process could be prolonged because the Indian cricket body would have to approve any sub-licencing of cricket rights.
As we celebrate the 78th Independence Day on 15th August 2024, it’s clear that startups are shaping India’s future in remarkable ways. With a vision set for 2047, startups are driving economic growth, creating jobs, and promoting innovation. In tune with this, StartupTalky reached out to several founders to understand their perspectives on how startups are influencing India’s path to becoming a developed nation. Here’s a glimpse into their insights on the role startups play in advancing economic development, shaping national policies, and contributing to sustainable growth.
Driving Economic Growth and Technological Advancement
Shashank Avadhani, Co-Founder and CEO of Alyve Health, highlights the role of startups in accelerating economic development:
Startups have always contributed, and they will continue to turbocharge the development in India. For economic development, all the cylinders in the ecosystem need to ignite and must continue to do well. For e.g., Startups in the semiconductor space are working towards technological advancements, and startups in the AI space are working towards AI growth, similarly, Alyve Health is playing a part in building the health-tech space.
Avadhani stated there are 2 ways to grow GDP: 1.) Incremental growth 2.) Non-linear growth. The only way the GDP can grow non-linearly is through technological advancements.
Drawing parallels to historical examples, Avadhani noted that during the 70s and 80s, Japan’s GDP grew because startups like Sony took on the mantle of technological advancement. In the last decade, China has been doing the same. In the last 3-4 years, India has become one of the world’s fastest-growing large economies. This has happened because of a vibrant startup environment which infuses plenty of growth in the ecosystem.
Key Contributions of Startups to Economic Development
Nimish Pant, Founder Director of SVATANYA, echoes this sentiment by emphasising technological innovation and investment attraction. He highlighted some key aspects of how startups are playing a crucial role in helping India become a developed nation by 2047:
Employment Generation: Creation of job opportunities vital for our country having a young employable population.
Technology & Innovation Attracting Investments Leading to Economic Growth: Startups are often at the forefront of developing new technologies and solutions leading to more efficient and innovative ways of doing things thereby fostering a culture of creativity. The productivity gains and technological advancements position India as an innovation hub thereby attracting substantial domestic and international investments leading to GDP growth. This influx of capital not only supports the startups but also the broader economy.
Addressing Societal Challenges: Many startups focus on solving critical issues such as healthcare, education, livelihoods, and sustainability thereby contributing to the overall development of society.
By fostering innovation, creating jobs, and attracting investments, startups are pivotal in driving India’s economic growth and helping the country achieve its goal of becoming Viksit Bharat by 2047.
Impact on Job Creation and Policy Influence
Anshul Khurana, Co-founder and CEO of Entitled Solutions, provides a snapshot of the scale of impact:
As of December 2023, approximately 117,254 startups, including 110 unicorns, have created over 1.24 million jobs. Startups are pivotal in advancing economic development and achieving India’s goal of becoming a developed nation by 2047.
Khurana highlighted that startups drive technological advancements and create competitive industries, addressing gaps in sectors such as healthcare, agriculture, and education. They encourage risk-taking and resilience, crucial for economic dynamism. Startups also influence national economic policies by advocating for favorable regulatory environments and investment climates.
Khurana emphasised that while the ecosystem faces challenges, initiatives like “Make in India” offer immense opportunities. He noted that combined efforts from startups and the government are essential for sustainable growth and economic stability, making startups integral to India’s prosperous future.
Influencing National Policies and Sustainable Growth
Surinder Bhagat, Founder and CEO of Gigin Technologies, discusses the role of startups in shaping national policies:
Startups are pivotal in advancing economic development and achieving India’s vision of becoming a developed nation by 2047. They drive innovation, create jobs, and foster competition, thereby enhancing productivity and economic resilience. By leveraging advanced technologies and agile business models, startups can rapidly address socio-economic challenges, stimulate local economies, and contribute to GDP growth.
Bhagat highlighted that startups play a crucial role in shaping national economic policies and fostering sustainable growth. By introducing innovative solutions and business models, they highlight gaps in existing regulations and drive policy reforms that support entrepreneurship and digitalization. Their agility and responsiveness to market needs encourage a dynamic economic environment, fostering resilience and long-term sustainability.
Collaborative efforts between startups and the government can significantly advance India’s socio-economic objectives, explained Bhagat.
Job Creation and Policy Needs
Gurashish Singh Sahni, COO & Co-Founder of ReCircle, highlights the impact on job creation and policy needs:
Acting as incubators for cutting-edge innovations, startups are not only pivotal in job creation and disruption of entire industries but also drive economic growth. Startups have been significant contributors to job creation, with over 500,000 direct jobs created by startups in 2020 alone (NASSCOM, 2020).
Sahni explained that this surge in employment can bolster India’s economy and impact local economies by exerting a positive influence on the cities in which they operate. Right from creating an influx of revenue for local economies to infrastructural upgrades, to supporting overall communities, and increase in flow of capital within the Indian market, startups have proven time and again that they have an impactful influence on the Indian economy.
For sustainable growth, Sahni emphasised the need for policies that strike the right balance between social justice, environmental preservation, and economic growth. He also advocated for more incubation and innovation centres, entrepreneurial cells, and a bigger push towards instilling an entrepreneurial spirit to drive India towards a developed nation.
Broad Impact on the Economy
Nirupama VG, Founder of AdAstra Consultants, reflects on the broader impact:
In the report titled, ‘The Indian Economy: A Review January 2024’, the Department of Economic Affairs said that the 1.14 lakh startups recognised by the Government under the ‘Startup India initiative’ created more than 12 lakh jobs (as of October 2023).
Startups play a critical role in advancing economic development through:
Providing jobs across levels and geography.
Improving technological advancements, innovation, and overall productivity.
Boosting the economy by inviting domestic and foreign funds into India through PE and VC firms.
Promoting holistic growth by stimulating economic activity in Tier-2 and Tier-3 cities, reskilling people, and providing wider opportunities, ensuring growth not only in large towns but also in smaller towns.
Overall, they play a pivotal role in transforming the economy and improving India’s GDP.
On Wednesday, the Supreme Court issued a stay of the NCLAT ruling that had set aside the insolvency proceedings against the ed-tech major. This effectively enabled Byju Raveendran, the owner of the company, to regain control of the business.
The ruling of the NCLAT that approved the settlement of Byju’s dues with the BCCI amounts to INR 158.9 crore, but the highest court has placed that verdict on hold. This decision has put a strong blow on Byju’s.
The order was issued in response to a pleading by Glas Trust Company LLC, a creditor situated in the United States, against the verdict of the NCLAT. Glas Trust Company LLC asserts that they are owed one billion dollars by Byju’s.
Additionally, a panel that was led by Chief Justice DY Chandrachud ordered the Board of Control for Cricket in India (BCCI) to maintain a separate account for the INR 158.9 crore that it had received from Byju’s as a result of a settlement.
Insolvency proceedings against BYJU’S were halted on August 2 after the National Company Law Appellate Tribunal (NCLAT) gave its approval to the settlement of INR 158.9 crore in dues with the BCCI.
How This Decision Can Bring More Trouble for BYJU’S
Following the decision of the Supreme Court, the insolvency proceedings against BYJU’S will resume. This will result in the ed-tech major, which was previously valued at USD 22 Billion, being placed under the control of an insolvency administrator chosen by the court.
At the beginning of this month, Byju Raveendran was able to restore control of the company after the National Company Law Appellate Tribunal (NCLAT) dismissed the insolvency procedures that were being brought against the startup.
The cricket regulating body of India filed a complaint, stating that the company had not been paid its sponsorship dues, which resulted in the company being placed in the process of going bankrupt. After some time, the two parties reached a settlement on the issue, and an appeals tribunal put a stop to the insolvency procedures.
Why BYJU’S Is Going Through a Financial Crunch?
The fast growth and forceful strategy of acquisitions employed by BYJU’S have put a heavy burden on its financial resources. Many are worried about the company’s long-term viability because of its substantial need for outside finance, despite the fact that it has raised billions in cash.
Despite the initial boost to online education caused by the COVID-19 pandemic, the market became saturated, which affected Byju’s growth trajectory.
Misleading advertising, unauthorised charges, and trouble getting your money back are just a few of the customer service issues that have plagued Byju’s. Not only have these problems damaged the company’s image, but they have also prompted lawsuits.
Members of the Enforcement Directorate and the Ministry of Corporate Affairs (MCA) are among the regulatory agencies that are constantly monitoring the operations of the company.
Investigations have been initiated due to allegations of financial irregularities, such as disparities in revenue recognition and possible violations of the Foreign Exchange Management Act (FEMA).
At the heart of both the company’s success and its present problems has been Byju Raveendran, founder and CEO of Byju’s. Now that stakeholders and investors are demanding answers about the company’s performance, his leadership is under scrutiny.
One97 Communications, the parent company of Paytm, has been ordered by the Office of Collector of Stamps in New Delhi to pay a penalty of INR 47.12 lakh for failing to pay stamp duty on the allotment of equity shares in recent years.
As stated in a filing with the exchange, the penalty is a consequence of the company’s failure to pay stamp duty in the amount of INR 1,43,16,535 as a result of the allocation of 10,26,386 equity shares, each of which is worth INR 10.
Despite the fact that there were delays of a few days in the submission of some applications, the company submitted applications for the payment of stamp duty at the appropriate time with the Office of Collector of Stamps in New Delhi. In the order that they were submitted, the applications in question have been processed by the Office of the Collector of Stamps.
According to the filing, the company stated, “Firm has taken all of the necessary steps to be more diligent in doing our best to avoid similar instances in the future.”
What Is Stamp Duty?
The government levies a charge known as stamp duty on legal papers, particularly those that pertain to the transfer of property, the issue of shares, and other types of financial transactions.
It is necessary for the legal validity and enforcement of these documents, which are payable when particular transactions take place, such as the transfer of property ownership or the formation of legal agreements.
Paytm Sailing through Troubled Waters
The Financial Intelligence Unit-India (FIU-IND) levied a penalty of INR 5.49 crore against Paytm Payments Bank Ltd. for violating the Prevention of Money Laundering Act earlier in the month of March.
The bank was allegedly involved in supporting illicit activities, such as online gambling, through its accounts, which led to the imposition of the penalty. According to the findings of the Financial Intelligence Unit of India (FIU-IND), the bank has violated the rules regarding anti-money laundering, combatting financing of terrorism, and KYC (Know Your Client).
In its response, Paytm Payments Bank stated that the problems were related to a business sector that had been discontinued and that it has also enhanced its monitoring and reporting mechanisms since previous statements.
This is a warning lesson for all businesses, as Paytm went from being a pioneering firm to having to face regulatory roadblocks. Because of this, the complex equilibrium that exists between rapid growth and tight compliance is brought to light. All companies would be well to take note of Paytm’s experiences and reevaluate their compliance practices in light of these difficulties.
Innovation is the engine that drives expansion, but compliance with laws and regulations is what assures long-term viability. By ensuring that their pursuit of innovation does not eclipse the need for compliance, businesses have a responsibility to work towards striking a balance between these factors.
Sachin Tendulkar, the flamboyant cricketer and master blaster nicknamed the “God of Cricket” for his extravagant career, is preparing to launch a new sports athleisure brand to test the waters of the sports market. Sachin has teamed up with Karthik Gurumurthy, the former head of Swiggy Instamart, for this endeavour. A media report states that the great cricketer will be joined by another former Swiggy executive, Karan Arora, to further expand the brand.
The venture has already been registered with a holding company. Tendulkar and Whiteboard Capital, an early-stage venture capital firm, were allegedly the incubators of the startup.
Records revealed that presently serving on the board of directors of the holding company known as SRT10 Athleisure Pvt Ltd. are Tendulkar and Whiteboard Capital.
Tendulkar on the Driving Seat
According to the information available in the public domain, Tendulkar, who is widely recognised as one of the most famous cricketers in the world, continues to earn a substantial fee for his brand endorsement deals.
However, his involvement with the new business does not involve a transaction where the startup offers the celebrity a stake in exchange for being the public face of the brand. Tendulkar and the other cofounders are working closely on the projects.
Sports Goods Demand is on High in India
Health and fitness awareness, as well as the demand for sporting items, are at record highs throughout the nation. Shoe sales make up roughly 60% of the sports goods sector, while garment sales account for 30%. The rest are found in the accessories. Entrepreneurs and investors are showing a growing fascination with the sports goods market.
Investors such as Nexus Venture Partners contributed INR 550 crore to Agilitas Sports, the venture capital firm founded by Abhishek Ganguly, the former head of Puma India. For 40 years, Agilitas had the Indian licence for the Italian shoe brand Lotto. Some other modern shoe companies that aim to attract athletes are also in discussions with venture capitalists about expanding their businesses. Firms that have been around for a while include Adidas and Puma.
Sports Celebs and Their Ventures
An increasing number of superstars, both domestic and international, are launching businesses, with some going on to sell for $1 billion or more. Tendulkar is the latest in this trend.
Puma and Indian cricketer Virat Kohli have worked together on several projects, including the One8 shoe line and Kohli’s ownership of a stake in Universal Sportsbiz Pvt Ltd (USPL), the parent company of the Wrogn brand. Deepika Padukone, MS Dhoni, and a slew of other famous people are investors in new businesses. Beauty and skincare brand 82E is run by Padukone. Katrina Kaif is the face of Nykaa KK, a cosmetics line that she co-founded with Nykaa.
Today, the world has 6.93 billion smartphone users. You’d agree that content served through social platforms on your phone is something you consume the most. Sharing valuable content on social apps to make connections helps develop a robust online presence.
This cross-platform practice helps build links for your website. It involves content sharing on different platforms and collaborating with workgroups to gain traction on your site. Let’s dive deeper into how cross-platform link-building works and how you can make it successful.
Creating connections across platforms extends beyond the boundaries of a website encompassing diverse sources from various locations. It involves placing links to websites to redirect users back to your site. This approach does not enhance search engine optimization (SEO). It also fortifies the overall strength of your website.
Social media platforms provide an opportunity to establish connections across networks. Marketers can enhance the visibility of their content by incorporating links from these platforms. Strategically placing links in both bios and posts can significantly drive traffic from media to websites.
Linking Building Through Directories and Forums
As per Reports Published by Authority Hacker, 93.8% of Link builders Believe Link Quality is More Important Than Link Quantity
It is considered that building links through online directories and forums is a better option than guest posts in 2024. But you need to be consistent and legitimate. Joining talks, groups and lists while quietly adding links can help build trust and bring in visitors naturally.
Suppose you have a travelling blog. By putting your blog on TripAdvisor in groups or places, you will get seen by travellers searching for facts. Add a link to your blog in the listing. This will bring users who want tips and suggestions into it. Get involved with people by answering reviews or asking questions gently.
Similarly, for forums, Reddit is a great example. If you choose a subject like AI and marketing, you can join niche groups called subreddits. You share your valuable information related to the niche and even chat with people of similar interests.
How to do it right?
Do not spam or impose your blog. Rather, try to give hints that answer questions. Add links where they help the talk or provide useful details. This method helps create trust, draws visitors and creates a reputation on these platforms.
Focus more on the quality of those connections than just their quantity. Search engines have changed over time to spot and give more importance to good links instead of sneaky tricks. So focus on making content that can naturally get links from platforms.
7 Strategies for Successful Cross-Platform Link Building
1. Use the Power of Social Media Sites Like Twitter, LinkedIn and Facebook
Share interesting stuff with built-in links that take users back to your website or other helpful things. Good headlines and pretty pictures can make these links more interesting, encouraging people to click on them and share.
2. Collaborate and Create With Other Writers and Creators
People love something extra and different every time. Working with other creators to create content that holds the audience is a walking trend. Also, you gain traction from the other creator’s audience and vice versa. It benefits both parties.
3. Be Active on Websites and Communities in Your Niche
Participate in discussions, share knowledge, go live and subtly incorporate resources or tools. This way you contribute to community conversations while gaining backlinks well. LinkedIn’s top voices are the best example of how this strategy can be worked with.
They comment on other posts, create posts and redirect readers to their newsletter and from there find the ones who buy their products and services.
4. Offer Exclusive Information (For Free)
We all love freebies. Whether a product or a piece of information, free feels like we’re gifted. You might have attended several webinars in your niche to gain that one gift (PDF or doc) by glowing your Gmail box. Similarly, make your audience feel special and offer them exclusive value. (PS: Don’t forget to tell them—It’s FREE!)
5. Employ Email Strategies to Connect With Other Websites
Be great with your email marketing skills. Drop emails for collaboration, resource sharing, or guest posting opportunities for potential backlinks.
6. Repurpose Your Content According to Analytics
Optimize your content according to the search analytics. See which topic needs a new visual, and infographics according to the updates. Consider creating YouTube videos and podcasts around that topic to offer fresh content to engage people while providing opportunities for link sharing and connection building.
7. Include Links to Your Newsletters and Emails
These links serve as invitations to the traffic on your site to explore and visit your website. Newsletters and emails are the best way to redirect your viewers to your website or certain blog posts.
5 Advantages of Cross-Platform Link Building
As per Authority Hacker, 79.7% SEO Strategist Consider Link Building as an Important Part of Their SEO Strategy
Content marketing is incomplete without social marketing in this era, where mobile screen time is higher than any other medium.
1. Multiple Sources of Traffic
Connecting between different platforms helps increase traffic. Like, sharing links on social media sites and industry-focused forums plus niche directories helps bring visitors to your website. This mix helps expand your web horizon.
You can relate well with image posts and charts on Pinterest that redirect to a related blog post which draws in users who want to know more about it.
2. Increase Brand Visibility and Recognition
Using platforms to spread the word about your brand will make it better known. This can be done by helping out as a visitor, on sites that team up with people or being written about in business newsletters. These placement spots assist in showing your brand to audiences, leaving a long-lasting effect.
Talking about your product in a newsletter for the business world can help more people know who you are from an audience they want.
3. Improve User Experience
Putting links to extra information or resources on different platforms makes the user experience better. This engagement does not increase satisfaction. It also gets people to spend more time with your content or brand.
Think of how links in the description of a YouTube video take you to resources or products and you end up at some other platform buying their product. We call it a smooth user experience.
4. Increase Content Syndication
Building connections across different platforms lets your content reach more people by helping them share it with others. When you change your content for different places and add links back to where it came from, the chance of more people sharing your stuff goes up. This makes it go viral.
For example, turning a blog post into a SlideShare presentation that includes links pointing back to your website makes people interested in knowing more details by visiting your site.
5. Establishment of Trustworthiness
Putting links to websites or working with others makes you a familiar face. By giving input and adding related links, you show yourself as a knowledgeable person. This helps gain respect and trust from the people who listen to you.
To make yourself better known and gain trust in your trade, a good way is to tell people about yourself. Make your profile on your blog and other social platforms about what you do. You can show your skills by including links to your website.
Cross-platform links have left a deep imprint in the fast-paced world of social media marketing. This involves going beyond the traditional and primary techniques and focusing primarily on quality. The advantages are numerous.
Businesses and content creators may broaden their reach with the help of diversifying traffic sources and by improving brand awareness by linking across platforms.
This strategy is not only about the collection of links but also about developing a network of connections that enriches user experiences, which is a major source of growth in the fast-growing social market.
FAQs
What are the types of links?
Generally, there are three types of links, Internal links, External links and Backlinks.
Is link building still relevant to SEO?
Yes, even in 2024, link building is still relevant to SEO because link building is still considered an important ranking factor.
What is meant by Backlinks?
Backlinks are typically external links to a website or webpage that are crucial for SEO while also indicating to Google the quality of your content.
This article has been contributed by Ms. Pallavi Jha, MD and Chairperson of Dale Carnegie and Walchand PeopleFirst Limited.
The importance of the dynamic interactions among workplace independence, employee engagement, and leadership has continued to increase over time in today’s rapidly changing work environment. Let’s delve into how Dale Carnegie’s ideas and our white papers like the 2022 engagement survey can create a more self-determining and productive office space through good leadership and engaged workers.
The Value of Person-Centred Management
Dale Carnegie once said that we need to ‘endeavour to understand what other people are thinking and feeling’. In this regard, it can be argued that human-oriented leadership is crucial in fostering independence at work. Organizations should couple both emotional and organizational drivers to meet present-day empowered employees as indicated by Dale Carnegie’s (2022) Employee Engagement Survey.
Senior leaders play a vital role in designing systems and structures that align with employee needs. This refers to flexible working arrangements, skill-building, and development aspects as well as creating an environment where emotions are open. Thus, leaders foster feelings of worthiness among employees who are entrusted with self-direction.
Role of Immediate Managers
To encourage autonomy at work, immediate managers are the key. They require the necessary instruments and assistance to create strong collaborative teams. According to Dale Carnegie’s study, 26 % of staff members are valuing their relationship with their immediate superiors. This connection is important for developing trust and independence among team members.
Managers who practice this principle are more likely to create an environment that encourages independent thinking and decision-making for their subordinates. By using this approach, employees become more confident hence increasing productivity and innovation.
Flexibility: The Key to Engagement and Independence
For the modern workforce, flexibility has never been more important. A study done by Harvard Business Review in 2021 showed that 76% of workers thought that employees should be able to prioritize lifestyle before choosing where they live close to work even if there are lower salaries offered. This change in preferences indicates a need for organizations to foster flexible working environments.
Leaders who adapt accordingly as well as allow workers’ autonomy for them to choose how best they want to work may see increased engagement as well as independence levels. When employees think they have earned trust while managing their own time load then it results in enhanced productivity for themselves and the organisation.
Investing in Continuous Learning and Development
Organizations that give priority to continuing education and training create an atmosphere in which employees feel they are always on the go. This personal development investment enhances not only their abilities but also increases confidence, thereby resulting in greater autonomy at workplaces.
Dale Carnegie’s research indicates that employees who are appreciated are almost three times more likely to put extra hours into work when required and actively defend the interests of their organizations. Companies should therefore provide tailored training opportunities as a sign of commitment to employee growth leading to independence of one’s own career path.
The Impact of Emotional Drives
However, emotional drives play a big role in promoting workplace independence. Dale Carnegie’s research identified several key emotional drives:
Feeling that they contribute to the organization’s mission and success.
When leaders focus on these emotional elements, it creates an environment where employees feel secure enough to take initiative, make independent decisions, and contribute towards achieving the organization’s objectives meaningfully.
Connect With the Employees
Creating a connection with the employees can transform great resignation to retention. Replacing an employee is expensive hence it is important to value them and give them a conducive environment to grow and foster through upskilling opportunities and ensuring emotional well-being.
Conclusion
The conclusion of the matter is that leadership and engagement of employees in organisations are inseparable from independence at work. By adopting a human-centred approach, supporting flexible work arrangements, investing in employee development, and addressing both the organisational drivers as well as emotional ones, leaders can foster an environment where independence flourishes.
As Dale Carnegie rightly observed, being considerate of others’ thoughts and needs is crucial. By living out this principle, leaders promote trust, appreciation, and self-direction. With time, such kind of setting will make employees always feel treasured and respected hence willingly working on their own toward organizational objectives.
As part of its full-stack Generative AI (GenAI) platform, Sarvam AI, an AI startup based in Bengaluru, released a suite of products recently. These solutions cater to both enterprise usage and open source communities.
With the backing of investors like Lightspeed and Peak XV (formerly Sequoia India), the company said that its upcoming products will support 10 Indian languages—Hindi, Tamil, Telugu, Malayalam, Punjabi, Odia, Gujarati, Marathi, Kannada, and Bengali—and be voice-enabled to run a variety of jobs.
During an interview with a media outlet, Sarvam cofounder Vivek Raghavan said that the full-stack GenAI platform has been developed and deployed in collaboration with prominent industrial and technological partners. The product mix unveiled includes A1, Sarvam Models, Sarvam Agents, Shuka1.0, Sarvam 2B, and Sarvam Models.
Products and their usage
With their multilingual speech capabilities, the initial product, Sarvam Agents, will provide clients with the ability to communicate with agents through phone calls, WhatsApp, or in-app chat. Additionally, they will have the capability to act and make judgements in response to customer inputs. Businesses in industries such as banking, law, consumer products, telecommunications, media, and technology will be able to take advantage of the voice agents for as little as one rupee a minute.
Another offering is an open source large-language model (LLM) named Sarvam 2B. According to Sarvam, the LLM can efficiently carry out targeted tasks in ten Indian languages thanks to its training on an internal dataset consisting of four trillion tokens.
Meta, a digital giant, has an open source Llama 8B language model; their third product, Shuka1.0, will be an audio extension that supports Indian language usage. This product will also be available as open source.
Additionally, a product titled “Sarvam Models” will be made accessible, which contains the Indic language models utilised in the development of Sarvam Agents. Application programming interfaces (APIs) will now be made available for these models. As part of Sarvam’s developer API platform, developers will have access to models for document parsing, speech synthesis, translation, and speech recognition.
With tools like regulatory chat, document creation, redaction, and data extraction, the fifth product, ‘A1’, is a generative AI workbench made for solicitors to improve their skills.
Enhancing the growth with partnership
Yotta, Nvidia, Exotel, Microsoft Azure, and Google Cloud Platform (GCP) are some of the companies that Sarvam will team up with to power these offerings. During an event, Vishal Dhupar, Nvidia’s managing director for South Asia, said that the Sarvam stack will be powered by Nvidia’s DGX infrastructure.
The Beckn Foundation and the financial technology company Pine Labs will be Sarvam’s partners. Open Network for Digital Commerce (ONDC), a government-backed e-commerce network, is powered by the Beckn Protocol.
A rival to Sarvam, Krutrim AI, which has backing from Matrix, has recently launched a number of offerings, including GPU-as-a-service, cloud hosting for large language models, and access to other open source models. In May, Krutrim—which is part of the Ola group headed by Bhavish Aggarwal—also released consumer-facing smartphone applications for the Krutrim AI assistant.
In order to significantly increase coal production, decrease reliance on imported coal, and introduce cutting-edge technology into the mining sector, the Ministry of Coal has embarked on a transformative initiative to revolutionise coal mining. This initiative involves engaging Mining Developers cum Operators (MDOs) for major coal mine projects under the Coal India Limited (CIL) umbrella.
Mining Developers cum Operators (MDOs) are being brought in with the primary objective of dramatically increasing coal production through the simplification of operations, the enhancement of productivity, and the reduction of mining expenses. To increase the amount of coal that is produced domestically, these MDOs are entrusted with excavating, extracting, and delivering coal to Coal India Limited (CIL) in accordance with authorised mining plans. CIL’s goal is to modernise mining techniques and increase operational efficiency by forming partnerships with MDOs that are well-known for their sophisticated technological capabilities.
CIL identifies 15 coal mine projects
For the initial phase of the MDO implementation, CIL identified fifteen coal mine projects that had a total capacity of approximately 168 MT. Currently, there are a total of 28 projects, consisting of 18 opencast mines and 10 underground mines, with a combined capacity of around 257 metric tonnes. The awarding of 18 mines to prominent private parties marks a key milestone in this ambitious endeavour, which has been going on for quite some time. It is anticipated that the participation of these MDOs would result in significant contributions to the production of coal, which will guarantee both increased output and operational excellence within the industry.
According to the terms of the deal, these well-known operators will be in charge of overseeing the entire mining process, beginning with the excavation and extraction of coal and continuing all the way through to the delivery of the coal. Because of their participation, it is predicted that the system will receive cutting-edge technology and operational efficiency that has never been seen before, which will result in amazing enhancements to the capacities of production.
Various other plans of MDO
Managing important factors such as Rehabilitation and Resettlement (R&R) concerns, land acquisitions, and environmental clearances will be the responsibility of the MDOs, in addition to making production more efficient. To ensure that environmental regulations are adhered to in a stringent manner, they will also work with the State and Central Pollution Control Boards. For the purpose of assuring long-term stability and consistent advancements in mining operations, each contract with the MDOs will be for a period of 25 years or the life of the mine, whichever is shorter.
It is a key step towards modernising India’s coal mining business that the Ministry of Coal has adopted a policy to engage MDOs. It is the goal of Coal India Limited (CIL) to improve coal production capacity, increase operational efficiencies, and decrease reliance on coal imports by utilising the experience of reputed MDOs. This would ultimately contribute to India’s energy security and economic prosperity.
Megha Rani
