MAGENTA
Magenta Lifecare shares list at 29% premium over issue price
The issue, which was completely a fresh equity sale of 20 lakh shares, received an overwhelming response from investors with a subscription of over 900 times at close. Net proceeds from the Magenta Lifecare IPO are proposed to be used for funding the incremental working capital requirements of the company and other general corporate purposes.
Magenta Mobility joins hands with with Tata Motors, deploys 100 Ace EV
Magenta Mobility partners with Tata Motors to deploy over 100 Tata Ace EV units, including Ace EV and Ace EV 1000, as part of their MoU from October 2023. Maxson Lewis expresses excitement about their 'Ab Ki Baar Dus Hazaar' program aiming for 10,000 EVs by 2025. Vinay Pathak highlights the milestone in revolutionizing intra-city distribution.
Magenta Lifecare IPO booked over 900x on Day 3; Sattrix Information's issue subscribed 12x
IPO for Magenta Lifecare, which makes foam-based mattresses and pillows under the 'Magenta' brand, has been subscribed over 300 times so far on the third day.
Magenta Lifecare IPO booked over 60x on Day 2; Sattrix Information's issue subscribed 2x
The initial public offering (IPO) of Magenta Lifecare has garnered subscription over 60 times as of Thursday, the second day of the bidding process. The subscription period for this IPO ends on June 7. In contrast, the IPO of Sattrix Information, which opened on the previous day, has received subdued subscription, standing at just over 2 times as of the second day of the bidding process.
Kuehne+Nagel India, Magenta Mobility join hands to decarbonise road services
Kuehne+Nagel has partnered with Magenta Mobility to transition their fleet in India to electric vehicles, as part of their commitment to sustainability.
Delhi Metro alert: Train movement between Samaypur Badli, Jahangir Puri to be via single line for 4 months
The Delhi Metro Rail Corporation (DMRC) said in a post on X, "Train movement between Samaypur Badli and Jahangir Puri on the Yellow Line shall be done via single line from 10 pm till end of revenue services and from start of revenue services till 7 am with effect from Thursday (18.4.2024) for a period of four months for execution of Phase-IV work of the Magenta Line extension."
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Pantone Reveals 2024's Peach Fuzz: Embracing togetherness and nostalgia in design
Pantone's 2024 Color of the Year, Peach Fuzz, symbolizes unity and empathy in tumultuous times. Described as a gentle, velvety peach, it embodies togetherness, community, and nostalgia. This choice transcends design, reflecting cultural sentiments and our longing for peace. Aligned with the current trend of embracing nostalgia, the color signifies a desire for tranquility and harmony in a fast-paced world. It's predicted to influence diverse aspects of design and lifestyle, echoing society's yearning for connection and serenity.
Two of three remaining corridors of Delhi Metro's Phase-IV in advanced stages of approval: Official
In March 2019, the Union Cabinet approved three out of the six corridors of the Delhi Metro's Phase-IV, which will further improve connectivity in the national capital. The remaining three proposed corridors which have not yet been approved are Rithala-Bawana-Narela, Inderlok-Indraprastha and Lajpat Nagar-Saket G Block.
Altigreen aims to sell 1,500 units of three-wheeler cargo neEV Tez by year-end
Altigreen on Thursday launched its three-wheeler cargo Tez in the Delhi market, when 200 NeEV Tez vehicles were delivered to Magenta Mobility, an e-mobility services provider for goods transport. Besides, the company also has plans to expand in markets such as Ahmedabad, Kolkata, Bengaluru, Hyderabad, and Chennai.
Millions of jobs coming up in EV sector, data & AI roles to get maximum hikes
The demand for workers with green skills is expected to move further up in the coming years. Estimates differ, with different industry leaders pegging job creation in the EV sector at different levels, but everyone seems united in the view that millions of new roles are getting created.
Magenta Mobility partners Tata Motors to deploy 500 Ace EVs for deliveries
Magenta Mobility has partnered with Tata Motors to introduce the Ace EV in its fleet, aiming to accelerate the adoption of electric vehicles (EVs) in urban deliveries. The collaboration aligns with Magenta's commitment to decarbonize logistics and provide clean and sustainable mobility solutions. Magenta Mobility plans to transition from 1,000 to 10,000 EVs on the road by 2024.
EV sector has swerved back into funding avenue. But why are investors staying cautious?
Investment in the Indian electric vehicle (EV) ecosystem is on the rise, with deals worth $1.2bn announced between January and August 2023, set to surpass the total funding announced in 2022, according to Tracxn. The sector has seen a 60% growth in funding in Q3 2023 compared to Q3 2022, and experts predict the emergence of unicorns and consolidation in the EV space. Investment is increasingly focused on credible companies with strong technology and a clear path to profitability, and there is growing interest in EV components, EV mobility services, and the entire EV ecosystem.
Cars24 ex-CEO and Grip launch Electrifi Mobility to boost EV electrification in India
Former CEO of Cars 24 India, Kunal Mundra, has partnered with digital investment platform Grip to launch Electrifi Mobility, an EV asset management and leasing company in India. Electrifi Mobility aims to provide end-to-end asset management solutions for fleet operators, covering asset selection, leasing, maintenance, post-sales support, refurbishment, and redeployment of EV assets.
G20 Summit: Delhi Metro Authority requests commuters to use Magenta line to reach Airport Terminal 1
As per the DMRC statement, "To reach Terminal 1 of IGI Airport, commuters are requested to use Magenta Line and get down at Terminal 1-IGI Airport Metro Station. Feeder Buses between Delhi Aerocity Station of Airport Line and Terminal 1 will be unavailable from 8th to 10th September."
Magenta Mobility launches EV charger to charge 12 vehicles simultaneously
The EV charger with 12 charging outputs of 3.3 kW each will help in reducing per-point charging costs for fleet operators and residential societies, the company said in a statement.
Magenta Mobility to roll-out 15-min rapid charging Electric Vehicle Fleet; Partners with Altigreen and Exponent
Magenta Mobility has partnered with Altigreen Propulsion Labs and Exponent energy to launch a 15-minute rapid charging Electric Vehicle fleet. The Altigreen neEV Tez can be fully charged in 15 minutes will enable Magenta to take India's last mile logistics to the next level and reduce operational costs. The companies are set to deploy 1,000 Altigreen neEV Tez over the next 12 months, with 30 e^pumps already installed in Bengaluru.
The magenta ₹2,000 note, our very own Ajanta cave mural
It’ll soon be demonetised, but the highest value currency is also a stunning artwork.
Magenta Mobility brings on board Lithium's Satyen Sail as mobility business head
Magenta Mobility has appointed Satyen Sail as Mobility Business Head to steer the company's growth post-investment from bp Ventures and Morgan Stanley. Sail's remit will focus on establishing operational excellence, building strategic partnerships and client relationships to develop the company's mobility business. Sail has experience in entrepreneurial and professional roles, has worked on fleet operations with Lithium and has worked with international brands such as Reliance, Coca-Cola and Vodafone.
Magenta Mobility raises $22 million from bp, Morgan Stanley India Infra
The company plans to deploy the freshly raised capital in fleet and geographical expansion besides investing a part of the funds in technology-build as it focuses on "sustainable and profitable" growth, Maxson Lewis, Founder and Managing Director, Magenta Mobility said.
Magenta Mobility raises USD 22 mn from bp, Morgan Stanley India Infra
The company plans to deploy the freshly raised capital in fleet and geographical expansion besides investing a part of the funds in technology-build as it focuses on "sustainable and profitable" growth, Maxson Lewis, Founder and Managing Director, Magenta Mobility said.
Services on Delhi Metro's Magenta Line section affected, restoration work planned at night
Replacement of cables is a time taking process that requires full access to the track without any train movement. Passengers are being informed regularly through announcements at stations and inside trains on the Magenta Line, the official said. Updates are also being provided through social media, he said.
Subway providing connectivity to DMRC's Magenta Line opened at Delhi airport
Each entry and exit of the subway has two escalators and two lifts each along with a staircase. The lifts which have been installed in the subway for passenger movement are more spacious than the general lifts installed in the Metro system and have a capacity of carrying about 26 people.
Alstom wins bid to supply 312 metro cars for Delhi metro
Alstom will be manufacturing, supplying, testing, and commissioning 312 standard gauge metro cars for the fourth phase expansion of the Delhi Metro. A statement from Alstom said that the order, worth €312 million includes Design and manufacturing of 234 standard gauge metro cars for plying on the extension of Delhi metro’s Pink, and Magenta Lines.
EV charging and mobility solutions company Magenta aims to hire over 340 people in 2022
The company is looking to hire candidates in various positions, including entry-level, mid-level and those having more experience. It is participating in multiple campus and off-campus drives and planning to recruit across tier I and II institutes.
Magenta looks to hire over 340 employees across teams
The announcement comes amidst the firm expanding its geographical presence with new offices in Bengaluru, Hyderabad and Delhi NCR.
Magenta ChargeGrid partners with Ather Energy to install EV charging stations
Magenta ChargeGrid has formed alliances with prominent DISCOMs across the country such as BSES, BESCOM, among others with the goal of establishing a stronger EV (Electric Vehicle) charging ecosystem.
Magenta ties up with Euler Motors to deploy 1,000 e-cargo vehicles in key cities
Under its eFaas (electric fleet as a service) operating model, EVET offers a comprehensive end-to-end solution, Magenta said in a statement. The partnership has already deployed 100 EVET e-cargo three-wheelers in Bengaluru. The fleet is meant for mid-mile and last-mile delivery, servicing e-commerce, food delivery, pharma and other last-mile logistics clients, it said.
Magenta makes 'significant' investment in EV component maker Axiom Energy
With the Magenta Axiom investment and partnership, plans are afoot to develop a greenfield manufacturing setup dedicated to EV powertrain components, including chargers, convertors, motor controllers and drive train components, Magenta said in a statement.
Magenta in partnership with Omega Seiki Mobility deploys 100 electric cargo vehicles
Magenta is already operating over 110 electric cargo transport services using the electric mobility platform.
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