NSE Chief Offers Prayers At Tirupati Ahead of IPO

Ashishkumar Chauhan, Managing Director and Chief Executive Officer of the National Stock Exchange, on Sunday visited Tirupati with his family and offered prayers at the Lord Venkateshwara temple, seeking blessings for the exchange, its members, shareholders and the country.

Speaking after the visit, Chauhan said the darshan took place early in the morning and described the experience as peaceful and deeply fulfilling. He noted that prayers were offered for the well-being of NSE and for the broader growth of the nation.

“Today we had a great darshan in the early morning at Tirupati. We took blessings for NSE, for all our members, all our shareholders and for the country,” Chauhan said, adding that the visit had been planned well in advance.

The temple visit coincided with a key regulatory signal for the exchange. On Saturday, the Chairman of the Securities and Exchange Board of India indicated that NSE is likely to receive approval for its long-pending initial public offering within the month. The remarks were made by SEBI Chairman Tuhin Kanta Pandey.

Chauhan said the timing felt particularly auspicious, as the announcement became public just as he arrived in the temple town. He described it as a positive omen and a blessing.

“When we arrived in Tirupati, the announcement was made. We see it as a good omen and God’s blessing that this development has come,” he said. He added that the darshan would remain a memorable moment, especially given the significance of the period for the exchange.

The visit comes as market participants closely track regulatory progress on NSE’s proposed IPO, which is expected to be one of the largest and most consequential listings in India’s capital markets, marking a milestone both for the exchange and the broader financial ecosystem.

Oracle Cloud biz sees 100% growth in India, doubles its customer base

Sep 15 (IANS) Cloud major Oracle on Thursday said its India business saw a tremendous growth in the first quarter of FY23, with the Oracle Cloud Unit (OCI) clocking over 100 per cent growth (year-on-year) for the third year in a row.

In India, the OCI is growing at 25 per cent quarter on quarter (QoQ) and the company has clocked double-digit growth across all lines of businesses, in some even triple digit, Kapil Makhija, Vice President – Technology Cloud Business, Oracle India, told IANS.

“This is specifically true for the India region where in the IaaS/PaaS market, we are growing at 25 per cent QoQ continuing on the growth trend we have been witnessing for the last three years,” said Makhija.

He said that in the last eight months, the company catered to more cloud projects than it had in the last three years — across the private and public sectors.

“This momentum indicates the value that OCI has brought to customers as a result of speed of execution, performance, scalability and cost savings,” Makhija added.

In the first quarter of FY23, Oracle was a huge growth across all lines of businesses.

“Oracle India stands apart in the cloud space in the IaaS and PaaS market. Cloud technology has done significantly well and Oracle’s India business has been a strong growth engine for the company,” the Oracle executive noted.

Oracle’s quarterly revenues were up 18 per cent year-over-year to $11.4 billion globally.

Makhija said the company aims to be the preferred cloud provider for all Indian organisations, both in the private and public sectors.

“Our MeitY empanelled cloud regions, in Mumbai and Hyderabad, are running at full capacity and as a result, we have doubled our cloud customer base in the past few years,” he told IANS.

New customers are HDFC Life, Federal Bank, NSE, Cognizant, Manappuram Comptech and Consultants Limited, SBI, Polycab, Forbes Marshall Pvt Ltd and Tensor etc, according to the company.

“We have also defined more avenues of working with our partners and expanding business opportunities for them and us,” said Makhija.

Oracle serves more than 15,000 customers in India across large and SMB enterprises, across the private and public sectors.

The Cloud major has 38 Cloud regions in 20 countries and 6 more are planned by end of 2022.