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Indichip Semiconductors inks deal with Andhra govt to set up Rs 14,000 crore facility

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AMARAVATI: Indichip Semiconductors Ltd along with its joint venture partner Yitoa Micro Technology (YMTL) from Japan, on Saturday inked an agreement with the Andhra Pradesh government to establish India’s first private semiconductor manufacturing facility with an investment of Rs 14,000 crore. This cutting-edge facility will focus on manufacturing Silicon Carbide (SiC) chips, contributing to India’s technological advancement and sustainability goals.
The southern state pledged to provide land at Orvakal mega industrial hub in Kurnool, along with the necessary infrastructure and ecosystem to make this project a success.
“The new SiC fab facility will begin with a production capacity of 10,000 wafers per month, ramping up to 50,000 wafers per month within two to three years. This strategic investment is aligned with India’s Atma Nirbhar Bharat vision and addresses the growing global demand for energy-efficient technologies, electric vehicles, and renewable energy solutions,” said an official press release.
The deal was struck in the presence of Andhra Pradesh IT Minister Nara Lokesh and Industries Minister TG Bharat.
“This investment is a testament to Andhra Pradesh’s ability to attract cutting-edge industries through innovative policies and robust infrastructure,” said Lokesh.





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Anand Mahindra weighs in on 90-hour work week: ‘My wife is wonderful, I love staring at her’

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NEW DELHI: Anand Mahindra, the chairman of the Mahindra Group, has joined the debate on the ideal workweek, following remarks from L&T Chairman SN Subrahmanyan that sparked widespread online outrage. Speaking at the National Youth Festival in New Delhi on Saturday, Mahindra said that the real issue is not the number of hours worked, but the quality of the output.
“We have to focus on the quality of work, not on the quantity of work. It’s not about 40 hours, 70 hours, or 90 hours. What output are you doing?” Mahindra asserted. He added that even in just 10 hours of work, one could achieve significant change.

You make better decisions when you have a whole brain: Mahindra

Further expanding on his views, Mahindra stressed the importance of a well-rounded life. He argued that having exposure to a wide range of fields, including arts and culture, makes for better decision-makers. “You make better decisions when you have a whole brain, when you are informed about arts, culture, that’s when you make a good decision,” Mahindra explained, as reported by news agency PTI.
He also pointed out that spending time with family, friends, and engaging in personal reflection contributes to better leadership and creativity. “If we are only in the office all the time, we are not with our families, we are not with other families. How are we going to understand what people want to buy? ” he added.
Addressing his followers on X, who often question how much time he spends on social media instead of working, Mahindra explained, “I want to make it clear—I’m on X not because I’m lonely. My wife is amazing, and I love spending time with her. I’m not here to make friends. I’m here because people don’t realize how powerful a business tool this is. On one platform, I can get feedback from 11 million people.”

How long can you stare at your wife? L&T chairman

In a video circulating online, the L&T Chairman advocated for a 90-hour work week and suggested that employees should even give up Sundays for work. His remark, “How long can you stare at your wife?” was widely criticised as insensitive and out of touch with the realities of work-life balance. Subrahmanyan also referred to a conversation he had with a Chinese professional who claimed that working 90 hours a week would help surpass the US, where workers typically work only 50 hours.
Also read: ‘How long can you stare at spouse?’ L&T chief backs working on Sunday

90 hours a week? Why not rename Sunday to ‘Sun-duty’? Harsh Goenka

Business leaders have expressed strong opposition to Subrahmanyan’s remarks. Harsh Goenka, chairman of RPG Enterprises, took to social media to mock the idea of a 90-hour work week, saying, “90 hours a week? Why not rename Sunday to ‘Sun-duty’ and make ‘day off’ a mythical concept!” He said that while hard work is essential, it should not come at the expense of personal well-being. “Work-life balance isn’t optional, it’s essential,” he added.

‘Aath ghanta family ke saath bitayega tho biwi bhaag jaayegi’: Gautam Adani

Gautam Adani also joined the conversation on work-life balance, stating that it is a personal choice. Referring to the often-discussed issue of family time, Adani said, “Aath ghanta family ke saath bitayega tho biwi bhaag jaayegi” (Wife will leave if one spends eight hours with family).
Also read: Gautam Adani’s playful response to Narayana Murthy’s 70-hour workweek advice
This follows comments made by Infosys chairman Narayana Murthy, who suggested that young workers should be prepared to work up to 70 hours a week.





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EMA Partners India SME IPO to open on January 17; raise Rs 76 crore

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NEW DELHI: Mumbai-based EMA Partners India on Saturday said it is looking to raise Rs 76 crore on the NSE’s Emerge platform through an initial public offering, which will open for public subscription on January 17. The issue with a price band of Rs 117-124 apiece will conclude on January 21. The bidding for anchor investors will open for a day on January 16, the company said in a statement.
At the upper end of the price band, the company will raise about Rs 76.01 crore.
The shares of the company are proposed to be listed on the Small and Medium Enterprises (SME) platform of NSE Emerge. Investors can bid for a minimum of 1,000 shares and in multiples thereof, it added.
The initial public offering (IPO) is a fresh issue of up to 53.34 lakh equity shares, aggregating up to Rs 66.14 crore and an offer for sale component of up to 7.96 lakh shares by promoters — Krishnan Sudarshan and Subramanian Krishnaprakash, according to the red herring prospectus (RHP) filed on January 9.
Shekhar Ganapathy, a public shareholder, will also offload shares in the company.
The promoters and promoter group of EMA Partners own an 86.14 per cent stake, while public shareholders hold 13.86 per cent.
As per the RHP, the company will utilise proceeds towards augmenting the leadership team for the company and its subsidiaries, capital expenditure towards upgrading the existing IT infrastructure and debt repayment.
Funds will also be used for general corporate purposes and unidentified inorganic acquisitions.
EMA Partners India Ltd claims to be one of the leading executive search firms delivering customised leadership hiring solutions to a wide range of clients across diverse sectors. The company has recruited several business and functional leaders for domestic and international clients.
The company, along with its subsidiaries, including James Douglas Professional Search India and MyRCloud, cover the entire spectrum of white-collar hiring right from entry-level opportunities to senior leadership.
Incorporated in September 2003 as Executive Management Associates India Pvt Ltd by Krishnan Sudarshan (Chairman and MD) and Subramanian Krishnaprakash. Later, the company was renamed as EMA Partners India.
Indorient Financial Services is the sole book running lead manager while Bigshare Services is the registrar for the IPO.





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