Ola Electric IPO Sees Strong Demand Despite Falling Grey Market Premium
儘管灰色市場溢價下降，Ola Electric IPO 需求依然強勁
The Ola Electric Mobility IPO witnessed robust interest, achieving a subscription rate of over four times on the third day of bidding. The employee section topped the subscription chart at 8.98 times, while the retail and non-institutional investor categories saw subscriptions of 2.87 times and 1.11 times, respectively. The qualified institutional buyer segment was subscribed 40%. In total, 49.43 million bids were received against the 46.51 million shares offered, resulting in a 1.06 times subscription rate. The IPO aims to raise ₹6,145 crore with a price band set between ₹72 and ₹76 per share.
Despite the positive subscription figures, the grey market premium (GMP) for Ola Electric shares fell to ₹2.50, signaling a less enthusiastic response compared to initial expectations. Analysts at LKP Securities and Choice Equity Broking expressed cautious optimism, advising investors to subscribe while monitoring market dynamics and the company’s financial health. The IPO includes a fresh equity issuance of ₹5,500 crore and an offer for sale of 8.49 crore shares. Proceeds will be used to pay down debt, support growth initiatives, and expand production capacities.
小編點評：Ola Electric Mobility IPO 需求強勁，認購量超過發行股份的四倍，員工、散戶和非機構投資者表現出濃厚興趣。儘管興趣濃厚，但該股的灰色市場溢價跌至 2.50 盧比，表明市場反應比最初預期更為溫和。
Zetwerk and SMILE Electronics to Launch Three IT Hardware Factories in India
Zetwerk 和 SMILE Electronics 將在印度開設三個 IT 硬體工廠
Zetwerk Manufacturing Businesses has partnered with SMILE Electronics to establish three new IT hardware production facilities in India. The partnership will see the launch of a fully automated factory near Bengaluru in Devanahalli, designed for the assembly, testing, and packaging of desktops, laptops, energy meters, and remote controls. Additionally, Zetwerk will invest ₹1,000 crore to enhance electronic system design and manufacturing (ESDM) capabilities across the country. This collaboration strengthens SMILE’s footprint in South India with two new factories in Chennai and Andhra Pradesh, adding to their existing facility in Bengaluru.
Zetwerk operates four factories in North India, catering to demand for mobile phones, telecom devices, smart meters, television and display devices, and wearable technology. Mukesh Gupta, Chairman of SMILE Electronics, emphasized the strategic partnership with Zetwerk, highlighting the potential to expand production capabilities and become a leading Indian ESDM player. Rahul Sharma, Co-founder of Zetwerk, noted that the collaboration aims to accelerate the domestic electronics ecosystem, creating significant employment opportunities and contributing to India’s goal of becoming a global manufacturing powerhouse. SMILE Electronics is a beneficiary of the government’s IT hardware Production Linked Incentive (PLI) schemes, having produced and supplied millions of electronic devices over the past three years.
小編點評：Zetwerk Manufacturing Businesses 和 SMILE Electronics 將在印度開設三座新的 IT 硬體工廠，其中包括位於班加羅爾附近的全自動工廠，用於生產桌上型電腦、筆記型電腦和其他電子產品。 Zetwerk 將投資 100 億盧比來提升電子系統設計和製造 (ESDM) 能力，透過在清奈和安得拉邦建立新工廠來補充 SMILE 的擴張。這項合作關係旨在提高印度的電子產品生產、創造就業機會並支持該國成為全球製造業領導者的目標。
India Seeks to Assure Taiwan of Stable Policies to Attract Semiconductor Investments
印度尋求向台灣保證穩定的政策以吸引半導體投資
India is actively working to assure Taiwanese businesses and government officials of policy stability to bolster its semiconductor sector, as senior officials from the Indian IT Ministry met with executives and government representatives in Taipei. These meetings, held in June, aimed to provide assurances of consistent support for investments in semiconductor manufacturing, particularly regarding stable import regulations and customs duties. This outreach comes as Tata Electronics prepares to open India’s first commercial semiconductor fabrication plant in Gujarat, with technical support from Taiwanese chipmaker PSMC. Although PSMC, a smaller player in the Taiwanese market, has opted for a technology collaboration without equity investment, India hopes that sustained engagement with Taiwanese firms will eventually lead to deeper investments, such as equity partnerships or independent operations.
The strategic importance of engaging with Taiwan stems from its dominant role in the global semiconductor industry, with companies like TSMC and UMC leading the charge. Taiwan produces over 90% of the world’s advanced chips, vital for electronic devices and AI technologies. However, Taiwanese firms have been cautious about investing in India due to perceived challenges, such as administrative complexities, high tariffs on electronic imports, and a lack of experienced engineers. Joseph Wu, Taiwan’s Foreign Minister, highlighted the need for India to streamline its administrative processes and build an integrated semiconductor ecosystem to attract significant investment. Despite these hurdles, India’s IT Ministry remains confident in the country’s talent pool and is optimistic about attracting global players to invest in its semiconductor ambitions.
小編點評：印度正在努力向台灣企業保證政策將維持穩定來吸引半導體投資，IT部高級官員在台北會見了台灣企業高管，討論對半導體製造的支持。這項舉措在塔塔電子公司在台灣晶片製造商 PSMC 的支持下，在古吉拉特邦建立印度第一家商業半導體工廠之前所進行。儘管面臨高關稅和管理複雜性等挑戰，印度仍致力於建立一個強大的半導體生態系統，並希望持續的互動將帶來台灣企業更深的投資。
GTRI Proposes Strategic Reforms to Boost India’s Appeal for Foreign Investments
智庫GTRI 提出策略改革以提高印度對外國投資的吸引力
The Global Trade Research Initiative (GTRI) has outlined a four-step plan to enhance India’s attractiveness to global investors, highlighting the country’s need for strategic reforms despite its significant potential. GTRI emphasized that India’s Foreign Direct Investment (FDI), which totaled $44.4 billion in FY2024, represents only 1.1% of its GDP and falls short compared to major economies like China and Brazil. To improve this, the think tank recommends reducing cost disadvantages associated with relocating to India, such as high labor, raw material, energy, and financial costs. GTRI also stressed the importance of streamlining the Ease of Doing Business and establishing a robust framework for evaluating investment proposals.
Key recommendations include addressing India’s high raw material costs and financial expenses, which are considerably higher than those in China and Vietnam. GTRI suggests identifying priority sectors for development, inviting leading global firms to drive technological innovation, and improving logistics through dedicated freight corridors and strategic industrial zone placements. Additionally, creating a framework to assess investments, particularly those involving technology transfer, is crucial for enhancing India’s technological capabilities and competitiveness in the global market.
小編點評：全球貿易研究計劃（GTRI）提出了一項四步驟計劃，旨在透過解決成本劣勢和提高經商便利度來提高印度對外國投資者的吸引力。印度的外國直接投資 (FDI) 為 444 億美元，僅佔 GDP 的 1.1%，GTRI 建議降低高昂的勞動力、原材料和能源成本，並簡化投資評估流程。主要建議包括瞄準優先產業、邀請全球企業進行技術創新以及透過專用貨運走廊和戰略工業區加強物流。
Indian Government Begins Disbursing Funds to Micron Under Semiconductor PLI Scheme
印度政府開始依照半導體 PLI 計劃向美光科技發放資金
The Indian government has commenced the disbursement of funds to US-based semiconductor giant Micron as part of its Production-Linked Incentive (PLI) scheme, aimed at bolstering the domestic semiconductor industry. According to MeitY Secretary S Krishnan, the disbursement process for Micron and other firms, including Tata, has begun, with Micron expected to commence manufacturing by December next year. Both companies will receive 50% of their incurred costs on a quarterly basis under the modified assembly, testing, marking, and packaging scheme. This initiative follows the government’s 2021 launch of the PLI scheme with a budget of INR 76,000 crore to support the semiconductor and display manufacturing ecosystem.
The PLI scheme, which has already committed INR 70,000 crore to various fab players, was revised in September 2022 to provide uniform support across technology nodes. This move aims to attract major investors to India’s semiconductor sector, which has recently seen significant developments, including Micron’s investment exceeding INR 22,000 crore for an ATMP plant in Gujarat and other global semiconductor giants establishing manufacturing units in the country. The Union Budget 2024-25 also outlined measures to further boost the manufacturing ecosystem, including reductions in customs duties for semiconductor inputs.
小編點評：印度政府已開始根據其生產連結激勵 (PLI) 計劃向美光支付資金，旨在加強國內半導體產業。美光、塔塔和其他公司將每季收到 50% 的成本，預計明年 12 月開始生產。該舉措是更廣泛策略的一部分，包括修訂 PLI 計劃和預算分配，以吸引主要投資者並促進印度的半導體生態系統。
Taiwanese Comtrend Opens New Office in Haryana to Boost ‘Made in India’ Wi-Fi Products
台商康全電訊在哈里亞納邦開設新辦事處以推廣「印度製造」Wi-Fi 產品
Taiwanese broadband and networking solutions provider Comtrend has inaugurated a new office in Haryana as part of its strategy to deliver indigenously manufactured Wi-Fi gear to both domestic and global markets. The expansion includes establishing a research and development (R&D) department and overseeing commercial and manufacturing activities through its Indian subsidiary. The new office will act as a strategic hub for Comtrend, enhancing its service delivery and providing tailored networking solutions to meet the specific needs of the Indian market.
Comtrend plans to leverage this expansion to forge partnerships with local businesses, technology partners, and educational institutions, facilitating technology exchange and development. This move underscores the company’s commitment to strengthening its presence in India and contributing to the local tech ecosystem by offering products made in India.
小編點評：台灣寬頻供應商康全電訊(Comtrend)在哈里亞納邦開設了新辦事處，以支援「印度製造」Wi-Fi 產品的生產和分銷。擴張包括建立研發部門並透過其印度子公司監督商業和製造業務。 康全電訊旨在透過與當地企業和機構合作、增強服務交付以及為當地科技生態系統做出貢獻來加強其在印度的影響力。
MCA Imposes Penalties on Zerodha and Wistron for Company Law Violations
印度公司事務部對Zerodha和緯創資通違反公司法的行為進行處罰
The Ministry of Corporate Affairs (MCA) has penalised Zerodha Asset Management and Wistron Infocomm Manufacturing (India) for breaches related to the appointment of key executives, according to orders issued by the Registrar of Companies (RoC) for Karnataka. Zerodha Asset Management faces fines totaling nearly ₹24 lakh for failing to appoint a chief financial officer for 459 days until March 24, 2023. This penalty also extends to its director Nithin Kamath, CEO Vishal Jain, and four other individuals. Meanwhile, Wistron has been fined ₹11.89 lakh for delays in appointing a company secretary.
Both penalties, imposed on May 24, address violations of Section 203 of the Companies Act, which mandates timely appointments of key personnel. Zerodha has contested the RoC order and filed an appeal with the regional director in Hyderabad. Both companies admitted to the violations through ‘suo motu applications’ for settlement, with Zerodha’s breach dating from December 20, 2021, to March 23, 2023.
小編點評：印度公司事務部 (MCA) 對 Zerodha Asset Management 和 Wistron Infocomm Manufacturing (India) 違反公司法規定進行了處罰。 Zerodha 因推遲 459 天任命財務長而面臨近 240 萬盧比的罰款，緯創資通則因推遲任命公司秘書而被罰款 118.9 萬盧比。兩家公司均承認違規行為，並已提出異議或提出上訴，Zerodha 的違規行為時間為 2021 年 12 月至 2023 年 3 月。