Srikalahasthi Pipes raises Rs 250 cr via QIP

Mumbai, Dec 29 (PTI) Srikalahasthi Pipes, formerlyLanco Industries, which manufacturers ductile iron pipes usedin water transportation and distribution has raised Rs 250crore through a qualified institutional placement.The company will issue 69,34,812 equity shares of facevalue of Rs 10 per equity share at a price of Rs 360.50, whichis a premium of Rs 350.50, the company said in a statement.Srikalahasthi has an integrated manufacturing facilityat Srikalahasthi in Chittoor district of Andhra. It has morethan 15 years experience in the industry. Recently itincreased capacity of DI pipes from 2,25,000 tonne per annumto 3,00,000.The company reported a net profit of Rs74.05 crore forthe half year, up from Rs 68.95 crore.*****************Federal Bank, Lulu Exchange in blockchain tie-upFederal Bank has partnered with Lulu Exchange to makecross border remittances easier, quicker and safer throughblockchain technology. The tie-up will bring the best oftechnology to both the companies.Set up in 2008 in Abu Dhabi, LuLu Exchange iscertified global financial services enterprise that servesbanking institutions, business houses, local and internationalcorporations as well as individuals. It has over 170 branchesspanning the GCC countries as well as India, Bangladesh, thePhilippines and the Seychelles.*****************Swaroop Agrochemical gets patent for gelThe Nashik-based Swaroop Agrochemical Industries hasbagged a patent for its new product HumiGel, a first-everhumic acid in gel form.Combined with seaweed extracts, HumiGel helps inaccelerating germination, seeding vigour and growth of roots,Swaroop Agrochemical said in a release.HumiGel is a certified organic input conforming toNational Programme for Organic Production standards.*****************GuestHouser ties-up with Booking.com for larger customer baseHoliday homes network GuestHouser has announced apartnership with Booking.com, the global leader in connectingtravellers with choice of places to stay."Our latest partnership with Booking.com is a huge winfor travellers and we are thrilled to have them as one of ourfirst global online travel agency partners. The associationunderlines the increasing demand of holiday homes bytravellers in the past few years," GuestHouser co-founderDhruv Sharma said in a release.Through the partnership, the company aims to bring itsinventory of exotic holiday homes to a larger customer baseacross the country on Booking.com.*****************Carpathy eyes 2 lakh orders per annum,Rs 150-cr in GMV by 2020Carpathy, an online network of multi-brand automotiveworkshops, has set a Rs 150 crore revenue in terms of grossmerchandise value (GMV) target by 2020 and also expansion intoJaipur where it has added five service centers and two mobileunits to its existing network of 75 service centers and 12mobile units.It currently works with clients such as Ola, Zoomcar,Myles, Revv etc and has operations in Delhi, Gurgaon, Noida,Faridabad, Ghaziabad and Jaipur. It is also aiming for 2 lakhorders per annum with a GMV of Rs 150 crore annually and apartner base of over 1,000 workshops with 6,000 mechanics.Carpathy is a network of multi-brand automotive service centres and claims to be the only network that has complete app-based workflow for all car owners and service providers.

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