Latest News | Business Briefs Silicon Rental Solutions IPO to Open Sep 28; to List on BSE SME

New Delhi, Sep 26 (PTI) IT equipment outsourcing company Silicon Rental Solutions Limited on Monday said it will raise a little over Rs 21 crore through its initial share-sale opening on September 28.

The Initial Public Offer (IPO) will close on September 30, and the shares will be listed on BSE SME, the company said in a statement.

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This is a SME IPO of 27.12 lakh equity shares of face value of Rs 10 each. The issue is priced at Rs 78 per equity share aggregating the size to Rs 21.15 crore.

Out of net proceeds, Rs 8.55 crore will be utilised to meet capital expenditure requirements, Rs 8.5 crore for repayment of borrowings and the balance towards general corporate purposes, the company's Chairman and Managing Director, Sanjay Harish Motiani said.

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*** Air India reduces processing time of ticket refund to 2-3 days * Full service carrier Air India on Monday claimed it has reduced processing time for the ticket refund to the eligible customers to 2-3 days.

Refunds have been an issue for many airlines during the global pandemic and subsequent recovery, Air India said, adding, it was severely impacted by Covid-19 and many customers' travel plans were affected.

The company also claimed that more than 2.5 lakh cases amounting to over Rs 150 crore were processed in just the first few months after Air India took control of the airline from the government.

As of today, an eligible refund request lodged on its website will typically be processed within 2-3 days, it added.

*** Vistara introduces automated crew rostering solution * Full service carrier Vistara has implemented a fully automated crew rostering solution to manage over 2,500 cabin crew and pilots across the network, the airline said on Monday.

The solution has enabled the airline to develop effective crew rosters that factor in legal compliance, crew availability, and lifestyle preferences and training requirements using a dynamic bidding mechanism, Vistara said.

With the new mechanism in place, options ranging from early morning or late evening flights, frequency of layovers, time off from work, preferred night stop stations and specific flights etc are now available to the crew, which allows them added flexibility in their schedules.

*** EKA appoints B Anil Baliga as president * Electric bus maker EKA has appointed automobile industry veteran B Anil Baliga as the president of the company.

Baliga, who has formerly been associated with Volvo Eicher Commercial Vehicles (VECV), will lead the expansion plans at EKA Mobility, the company said in a statement.

"Baliga joins the company at an exciting juncture as we begin to roll out our first batch of electric buses, expand our manufacturing footprints, and venture into the electric LCV range," said Sudhir Mehta, Founder - Chairman of EKA Mobility.

(The above story is verified and authored by Press Trust of India (PTI) staff. PTI, India’s premier news agency, employs more than 400 journalists and 500 stringers to cover almost every district and small town in India.. The views appearing in the above post do not reflect the opinions of LatestLY)