Pantomath Group arm invests Rs 460 crore in Amnex Infotechnologies
Pantomath Group has invested Rupees 460 crore in Amnex Infotechnologies. Wealth Company Asset Management made the investment through Bharat Value Fund. Amnex, founded in 2008, offers technology solutions across various sectors. The company has shown strong growth with a 75% CAGR over three years. Amnex aims to innovate digital infrastructure for a more inclusive future.
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Economic Times
a day ago
- Economic Times
Pantomath Group arm invests Rs 460 crore in Amnex Infotechnologies
Pantomath Group Pantomath Group on Monday announced that one of its arms has invested Rs 460 crore into Amnex Infotechnologies for an undisclosed stake. Wealth Company Asset Management has made the investment in the Ahmedabad-based technology company through the Bharat Value Fund (BVF), a company release said. The 2008-founded Amnex offers complete technology solutions, starting from design and development to integration, leveraging hardware, software, data analytics, and Industry 4.0 tools, the statement said. The company has posted a compounded annual growth rate of 75 per cent over the last three years, and consistently delivered over 40 per cent returns on capital. "As technology adoption accelerates across every sector, powerful economic tailwinds are taking shape, fuelled by platform-led transformations, intelligence-driven service delivery and universal last-mile access," Wealth Company Asset Management's founder and managing director Madhu Lunawat said. Amnex's founder and managing director Aditya Shah said the company aims to design systems that anticipate human needs, dissolve barriers, and unlock the true potential of digital infrastructure. "With growth capital, deep expertise, and the courage to innovate at scale, we are ready to shape the operating system of tomorrow's societies -- more inclusive, more resilient, and profoundly human," Shah added. The company is working in diverse sectors including transportation, traffic management, utilities, mining, logistics, urban infrastructure and agriculture, and has a proven track record of executing complex, high-impact projects in mission-critical domains. The fund has completed half a dozen investments in the last six months, and recent portfolio additions include Haldiram Bhujiawala and Prisma Global, the statement said.
Economic Times
a day ago
- Economic Times
Mumbai's wealthiest Ganesh Mandal sets record by buying eye-popping Rs 474.46 crore insurance
Synopsis Mumbai's GSB Seva Mandal has obtained a record insurance cover of Rupees 474.46 crore for the upcoming Ganeshotsav. This is higher than last year. The increased value of gold and silver items is the reason. The insurance covers gold, accidents, fire, and public liability. The Mandal will celebrate the festival from August 27 to 31. Image courtesy: GSB Seva Mandal The GSB Seva Mandal in Mumbai, located in King's Circle, has secured an unprecedented insurance cover of Rs 474.46 crore for the upcoming Ganeshotsav 2024, The Times of India reported on August 19. This marks a significant increase from last year's insurance policy, which stood at Rs 400 boost in coverage is primarily attributed to the rising valuation of the mandal's gold and silver items, alongside an expansion in the number of volunteers and priests involved, ToI's report (by Bella Jaisinghani) said. The insurance policy, arranged through New India Assurance, encompasses a wide range of protections including coverage for gold and silver items, personal accident insurance, fire-related incidents, and public the mandal has opted not to disclose the premium paid for this substantial cover, citing a non-disclosure down the coverage, the all-risk insurance, which specifically protects gold, silver, and jewels, is valued at Rs 67 crore. This is a notable increase from Rs 43 crore in 2024 and Rs 38 crore in 2023. The bulk of the policy, amounting to Rs 375 crore, is dedicated to personal accident insurance that safeguards volunteers, priests, cooks, valets, and security personnel. Additionally, the cover for standard fire and special perils, including earthquakes, remains unchanged at Rs 2 liability is accounted for at Rs 30 crore, which ensures coverage for pandals, stadiums, and devotees. Furthermore, a sum of Rs 43 lakh is allocated for standard fire and special peril cover for the venue Pai, chairman of GSB Seva Mandal, highlighted that the increased valuation of gold and silver has been a major factor in the rise of the insurance amount. The current rate of 24-carat gold in Mumbai has surged from Rs 77,000 per 10 grams during last year's festival to Rs 1,02,000 mandal's deity is adorned with an impressive 66 kg of gold ornaments and 336 kg of GSB Seva Mandal is set to celebrate its five-day Ganeshotsav from August 27 to 31. This year, the mandal has implemented several changes to entry systems, including an elevated entry for puja donors. To manage the expected large crowds, a dedicated agency has been appointed to oversee crowd control.
Time of India
a day ago
- Time of India
Pantomath Group arm invests Rs 460 crore in Amnex Infotechnologies
Synopsis Pantomath Group has invested Rupees 460 crore in Amnex Infotechnologies. Wealth Company Asset Management made the investment through Bharat Value Fund. Amnex, founded in 2008, offers technology solutions across various sectors. The company has shown strong growth with a 75% CAGR over three years. Amnex aims to innovate digital infrastructure for a more inclusive future.
