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India’s Nazara acquires 48% stake in PokerBaazi operator Moonshine Technology
Science & Technology
Tamunofiniarisa , ,
India’s Nazara acquires 48% stake in PokerBaazi operator Moonshine Technology

Technology tamfitronics India-based gaming and sports media company Nazara Technologies has acquired a 47.7% stake in Moonshine Technology Private, operator of the PokerBaazi online poker platform.

As part of the deal, Nazara will pay ₹832 Crore (£75.4m/€89.3m/$99.2m) to purchase the stake. Nazara will also inject ₹150 Crore in primary capital into PokerBaazi operator Moonshine via compulsory convertible preference shares. This stock will automatically convert into equity shares once the deal is completed.

The flagship PokerBaazi brand has approximately 340,000 monthly active users and draws 85% of the company’s net revenue. Moonshine also operates the SportsBaazi fantasy sports platform, which generates 12% of overall revenue.

Moonshine is headed by founder and CEO Navkiran Singh, with support from co-founders Puneet Singh, Varun Ganjoo, Avneet Rana, and Anirudh Chaudhry.

“As the Indian gaming sector continues to grow, we firmly believe that partnering with Nazara is the right step towards advancing the nation’s gaming ecosystem,” Navkiran Singh said. “This partnership will also contribute to our aim for global expansion in the gaming space.”

Acquisition a “significant” step for Nazara

Also commenting on the deal, Nazara CEO Nitish Mittersain welcomed the acquisition. He also said it would support the ongoing evolution of India’s gaming market.

“This investment in Moonshine Technology represents a significant step in our journey to strengthen Nazara’s position as India’s dominant diversified gaming platform,” Mittersain said.

“PokerBaazi has not only emerged as the undisputed leader in online poker gaming in India but has also set new standards in user engagement, innovation, and overall experience. We’re excited to join forces with Navkiran, Puneet, and the entire Moonshine team, whose vision and leadership have been instrumental in shaping the poker landscape in India.

Earlier this week (9 September), India’s Goods and Services Tax (GST) Council voted to keep its 28% turnover tax for gambling operators, after reviewing it six month’s after launching the policy.

Minister of finance and corporate affairs Nirmala Sitharaman told the media online gambling revenue had shot up 412% between November and April to ₹6,909 Crore ($823m/£628m) thanks to the new levy.

World Bank pegs India’s growth at 7% in FY25
Business News
Tamunofiniarisa , ,
World Bank pegs India’s growth at 7% in FY25

Business new tamfitronics

New Delhi: The World Bank has forecast India’s GDP growth at 7% for 2024-25, despite a subdued external environment and the dissipation of post-pandemic rebound effects. This is an upgrade from the 6.6% estimated earlier and the multilateral agency joins other agencies in raising India’s growth forecast after a strong 8.2% growth in the previous year.
The India Development Update report said external risks to the outlook are significant.

In particular, geopolitical tensions could put pressure on commodity prices and critical supply chains and resurgent inflation could still keep global interest rates“higher for longer.”
“These risks notwithstanding, medium-term prospects are positive. The significant expansion of

public investment

in recent years should crowd in corporate investments and a recovery of agriculture and declining inflation should boost private consumption growth. Under this baseline scenario, robust growth and declining inflation are expected to reduce extreme and moderate poverty,” according to the report.
It said the positive outlook is anchored on sustained growth of the

services sector

(including expansion of Global Capability Centers and an expected strengthening of the manufacturing sector, supported by govt initiatives, such as the PM Gati Shakti master plan to enhance logistics infrastructure, the trade infrastructure for exports scheme, and increased tax efficiency and rationalised tax rates to improve business environment.
It said headline inflation is expected to continue to decline from an average of 5.4% in FY23-24 to 4.5% in FY24-25.

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India’s Bharat Biotech plans global launch for its oral cholera vaccine Hillchol
Science & Technology
Tamunofiniarisa , ,
India’s Bharat Biotech plans global launch for its oral cholera vaccine Hillchol

Technology tamfitronics

Technology tamfitronics Story highlights

A report by the news agency Reuters said that Bharat Biotech’s Hillchol would compete with South Korea’s EuBiologics Co, which is the only WHO-approved producer of cholera vaccines.

Indian biotechnology giant Bharat Biotech said on Tuesday (Aug 27) that its oral cholera vaccine Hillchol cleared a late-stage trial. Bharat Biotech said that India’s drug regulator approved the vaccine, adding, it was now planning for a global launch.

The company said it would apply for the World Health Organization’s (WHO) pre-qualification to supply to major buyers like the UNICEF. A report by the news agency Reuters said that Hillchol would compete with South Korea’s EuBiologics Co, which is the only WHO-approved producer of cholera vaccines.

Technology tamfitronics A look at Bharat Biotech’s plan for Hillchol

Speaking to Reuters, Bharat Biotech said that its first intention was to help the African continent “where the situation is worse.” “And if any African country wants to procure the drug substance from us and do the final manufacturing there, we’re also open to it,” the company added.

Bharat Biotech would start the production of Hillchol from its Hyderabad facility with an annual capacity of 45 million doses. The company is also awaiting a key approval for another facility to ramp up production to 200 million doses.

A source told Reuters that $100 million was spent on the facilities which would be used to manufacture Hillchol.

Technology tamfitronics The late-stage trial

Bharat Biotech said that the late-stage trial, which had around 3,600 participants from India, showed that Hillchol was safe and non-inferior to the existing oral vaccines (for cholera).

The company pointed out that there is a global shortage of 40 million vaccine doses per year, and it plans to end this shortage with its vaccine.

Technology tamfitronics How Hillchol will be administered?

Hillchol can be administered to people above the age of one. The vaccine would be administered in two doses, 14 days apart. The vaccine has been developed under license from Singapore’s Hilleman Laboratories.

Also watch | World of Africa: Mpox and cholera ravage Africa concurrently

Speaking to Reuters, Hilleman Laboratories’ Chief Executive Officer (CEO) Raman Rao said on Tuesday that, unlike existing cholera vaccines that are developed using multiple strains, Hillchol uses only one strain with all the antigens.

“Normally if you have to work with five different strains (to develop a vaccine), the production capacity is limited. If you have a single strain, it can give you better productivity of three to four times,” Rao added.

Technology tamfitronics Global demand for oral cholera vaccines

As per the WHO, the first six months of 2024 saw 249,793 cases and 2,137 deaths due to cholera. These figures were reported from 25 countries. In the same period last year,  166,442 cases and 69 deaths were seen.

The increasing numbers have led to the request for 102 million doses of oral vaccines, double the 51 million produced, the UN health agency said.

(With inputs from agencies)

Technology tamfitronics Harshit Sabarwal

Newsman. MMA Striker.

India’s electronic manufacturing may reach $500 billion by 2030: CII report
Business News
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India’s electronic manufacturing may reach $500 billion by 2030: CII report

Business new tamfitronics

NEW DELHI: India needs to take critical actions to transform its electronic sector ecosystem from an ‘import dependent assembly led manufacturing’ to ‘component level value-added manufacturing’, highlights a report by Confederation of Indian Industry.
As per the Report, in 2023, the demand for

components

and

sub-assemblies

stood at USD 45.5 billion to support USD 102 billion worth of electronics production.

This demand is expected to scale to USD 240 billion to support the USD 500 billion worth electronics production by 2030.
The priority components and sub-assemblies including PCBAs (Printed Circuit Board Assembly), are projected to grow at a robust CAGR (Compounded Annual Growth Rate) of 30 per cent, reaching USD 139 billion by 2030.
The report also recommended the government to take key actions including a scheme to provide fiscal support, SPECS 2.0 (Scheme for Promotion of Manufacturing of Electronic Components and Semiconductors) to be introduced, import tariffs on components like camera modules to be rationalized, and sign FTAs with European and African countries.

The Report identifies 5 priority components/sub-assemblies of batteries (lithium-ion), camera modules, mechanicals, displays, and PCBs (Printed Circuit Board) which are categorized as high priority for India. They cumulatively accounted for 43 per cent of the components demand in 2022 and are expected to grow to USD 51.6 billion by 2030.
These components have either nominal production in India or are heavily import-dependent. India can hardly afford to sustain this trend of importing the priority components. Similarly, PCBA is a high potential category for India since most of the demand is met by imports. This segment is expected to grow by 30 per cent, leading to a demand creation of around USD 87.46 billion by 2030.

However, manufacturing-related cost disabilities vis-a-vis other competing economies like China, Vietnam, and Mexico (10-20 per cent), lack of big domestic manufacturing corporations, lack of domestic design ecosystem for Indian companies, and lack of raw materials ecosystem add to the challenges that disable the domestic manufacturing of components and sub-assemblies in India.
According to the report, these policy supports will help in various economic benefits arising from the development of the components and sub-assemblies ecosystem in India. Job creation to the tune of approx. 2.8 lakhs by 2026, increase in domestic value addition from the current levels, reduction in import dependency, and increase in GDP, all leading to firmly positioning India as a global hub for electronics manufacturing.