Good morning, Bengaluru!
⛈️ Today’s weather: Cloudy sky with one or two spells of thundershowers.
🧐 Did you know? Bangalore was renamed to Bengaluru on 1 November 2014.
🧀 Koramangala’s fermentation frenzy
Bengaluru’s Koramangala, traditionally known for its tech startups, is now emerging as a hub for fermentation enthusiasts and businesses.
Brand stories: The area has witnessed the rise of several businesses focused on fermented products. A notable addition is ‘Nari & Kāge’, a two-month-old fromagerie inspired by the fable of the fox and the crow. Run by Kathrina Salam and Benjamin Armel, the store offers a variety of high-quality cheeses, including some rare finds like Queso Oaxaca and Manchego. Their Kempe Knolle cheese pays homage to Bengaluru’s founder, Kempe Gowda I.
- The area boasts several other fermentation-focused businesses. ‘Sourhouse’ is renowned for its sourdough bread, while ‘Bäcker’, a German craft bakery, offers Bavarian Pretzels and Sourdough Baton Bread.
- ‘Fermentation Stories’ is a pizzeria gaining popularity for its sourdough-based pizzas. ‘Local Ferment Co’ specializes in non-alcoholic fermented beverages like kombucha and jun, and also serves sandwiches made with their homemade sourdough bread.
Community collaboration: The businesses in Koramangala often collaborate, creating a supportive ecosystem. For instance, ‘Nari & Kāge’ stocks bread from ‘Bäcker’ and artisanal preserves from brands like ‘Native Tongue’ and ‘Ishka Farms’.
- The community-driven approach in Koramangala is fostering innovation and growth in the food sector, especially around fermented products.
🛍️ M5 E-City Mall’s launch soon
Bengaluru is set to welcome the M5 E-City Mall, a new shopping centre developed by Mahendra Homes, located in Electronic City Phase II.
The details: The mall, which is nearing its launch, is strategically positioned near IT offices in south and east Bengaluru. It covers an expansive area of 4,20,000 sq. ft., making it the first integrated mall in Electronic City. The mall is located on the corridor stretching from Silk Board to Hosur and boasts five levels of branded retail.
- The mall will feature a wide array of fashion and lifestyle brands such as Lifestyle, Home Centre, Aldo, Beverly Hills Polo Club, Bath & Body Works, Toni & Guy, Metro, Bata, Jockey, Monte Carlo, Titan Eye Plus, and many more.
- Entertainment options at the mall will include Funcity and an 8-screen PVR Inox Cinemas.
Another space: Mahendra Homes is also working on another retail space named North Star at Ananthanagar, Electronic City, Bengaluru. This 4-storey building, with a built-up area of 40,300 sq. ft., has been leased to the hypermarket chain Vishal Mart.
💰 Stanley Lifestyles’ IPO move
Bengaluru-based Stanley Lifestyles, a leading super-premium and luxury furniture brand, has filed its draft red herring prospectus (DRHP) with market regulator SEBI for an Initial Public Offering (IPO).
Story so far: The IPO consists of a fresh issue of up to ₹200 crore and an offer for sale (OFS) by the promoter and other selling shareholders. In 2018, Oman India Joint Investment Fund invested in Stanley Lifestyles, securing a 26% ownership stake. The company later secured an additional ₹100 crore in funding from Oman India Joint Investment Fund II in 2019.
- Stanley Lifestyles may consider a pre-IPO placement of up to ₹40 crore. If this placement occurs, the fresh issue size will be adjusted accordingly.
- The funds raised from the fresh issue will be used for opening new stores, renovating existing ones, capital expenditure requirements, and other general corporate purposes.
Company details: Stanley Lifestyles boasts over 1,000 designs and 3,000 SKUs. It is a significant player in both manufacturing and retail operations in the high-end and luxury consumer brands sector in India. For FY23, the company reported a 43% YoY increase in consolidated revenue, amounting to ₹419 crore, and a 50% increase in net profit, reaching ₹34.98 crore.
🦟 Dengue monitoring app
In response to the rising dengue cases in Bengaluru, the State Health Department and Bruhat Bengaluru Mahanagara Palike (BBMP) are launching a mobile application and an AI-based model for effective monitoring and predictive analysis of the disease.
Predictive analysis: The AI-based model, developed by experts from IISc’s AI and Robotics Technology (ART) Park, will provide dengue predictive analysis four weeks in advance. This innovative approach can be utilized for predicting other diseases in the future. The mobile app will assist in monitoring preventive measures, such as spraying, fogging, and door-to-door IEC activities.
- The mobile application will offer an accurate ground-level view of prevention activities and incidence.
- Field staff will update the status of their activities and incidence in their jurisdiction on the app, which will also be displayed on a dashboard at the head office.
Rise in cases: Dengue cases in Bengaluru have seen a significant rise, with the tally reaching 4,703 as of September 7 from 905 cases on July 12. The majority of the cases were reported from July onwards.
✨ Things to do…
Here are some fun and interesting things to do in the city over the weekend!
- Enchanting experiences await you at The Mango Tree Festival this Sunday.
- Watch standup comic Zakir Khan live on Saturday at the Prestige Srihari Khoday Centre for Performing Arts.
- The Seven Rivers OKTOBERFEST is happening at the Taj MG Road this Sunday.
- Enjoy a live screening of the India-Pakistan Asia Cup match at Buffalo Wild Wings this Sunday.
- Attend the ninth edition of the Bangalore Business Literature Festival this Saturday at WeWork Galaxy.
🛋️ Local Lounge
Yesterday’s Poll Results:
- I am going to watch SRK’s Jawan movie: 44.4%
- I’m not going to watch SRK’s Jawan movie: 55.6% 🏆
That’s it for today. Have a great weekend!