Mauritius, Aug 22: Global Odia investors Biswanath Patnaik and Arun Kar made Odisha proud by ringing the bell to commemorate the historic moment of the listing of their companies Xpertnest Ltd. and Earthnest Ltd. on AFRINEX, the Mauritius-based International Stock Exchange. The ceremony took place in the presence of Prime Minister of the Republic of Mauritius, Pravind Kumar Jugnauth, and the High Commissioner of India to Mauritius, K. Nandini Singla.
AFRINEX International Stock Exchange listed the USD 500 Million green bond of Earthnest Ltd. and the USD 1.5 Billion bond of Xpertnest Ltd. Both the companies are globally operating from the UK (Headquarters) and India. This remarkable achievement marks a 'first-of-its-kind' story, where Indians from Odisha are making their state proud on an international platform.
Prime Minister, Pravind Kumar Jugnauth stated, “Mauritius as an IFC has received encouraging response from global companies and investors as evident from the USD13.3 plus Billion listings on AFRINEX. This has been possible because of our robust policies that are now at par with global jurisdictions and ease of doing business”
Odisha native Arun Kar, co-founder of Earthnest & Xpertnest expressed his elation, saying, "The listing holds the potential to propel both companies into African markets, while simultaneously enhancing their presence in India and across Asia. With Earthnest boasting a bio bag-making unitin Gujarat, plans are underway to establish another unit in Odisha, alongside other Indian states"
Speaking on the occasion, Chairman Biswanath Patnaik stated, “This unique collaboration between financial experts and technocrats shows how we can tackle important global issues together. Listing our businesses in Mauritius is a strategic move that connects us to Africa and strengthens our presence in India through the partnership of BSE technologies and Afrinex.”
Xpertnest, is a company that utilizes advances in artificial intelligence, machine learning, cloud-based software, augmented reality, data processing and analytics to find and deliver technology solutions for social and environmental challenges and aims to address critical challenges in various sectors, such as crime prevention in collaboration with law enforcement agencies, pioneering 5G technology, and the development of Smart Cities. Earthnest under Nest Group, is a digital innovation company giving technology based environmental solutions. The company is a manufacturer, supplier &distributor of Bio Bags which are sustainable bags and sheeting made from starch and other natural products which are 100 per cent plastic-free.
High Commissioner of India to Mauritius, K. Nandini Singla mentioned, “AFRINEX has emerged as the largest stock exchange in Mauritius in terms of market capitalization of listed securities”
“Today’s listing of bonds worth USD 2 Billion of Earthnest & Xpertnest on AFRINEX Securities List is testimony of AFRINEX’s successful strides in the primary market which has enhanced confidence of international issuers to participate in the capital markets and consider AFRINEX as a preferred listing jurisdiction,” said AFRINEX MD & CEO Krishna Gangopadhyay.