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Hyundai Motor India Foundation launches CSR projects in Maharashtra
Mumbai: Hyundai Motor India Foundation (HMIF), the CSR arm of Hyundai Motor India Ltd. (HMIL), announces the launch of multiple Corporate Social Responsibility (CSR) programmes across the Art, Health, and Sanitation sectors in Maharashtra. The initiatives were inaugurated under the esteemed presence of Shri Girish Mahajan, Minister – Rural Development & Youth Affairs and Sports, Government of Maharashtra, at the Bombay Art Society in Mumbai.
The inaugurated projects include a 2-day cultural extravaganza under the third season of HMIF’s flagship ‘Art for Hope’ initiative, celebrating 10 differently-abled grantees from across India. Additionally, 5 telemedicine clinics were unveiled by Shri Girish Mahajan, along with 2 mobile medical vans that were flagged off under the Sparsh Sanjeevani project. Furthermore, 100 water RO systems were virtually unveiled at 100 schools in Gadhchiroli as part of project H2OPE, which aims to make water accessible for all.
Speaking at the inauguration event of the CSR initiatives, Shri Girish Mahajan, Minister – Rural Development & Youth Affairs and Sports, Government of Maharashtra, said, “I commend HMIF for their commitment to improving the lives of our citizens through these valuable CSR initiatives. The telemedicine clinics, mobile medical vans, and water RO systems will greatly enhance accessibility to proper healthcare and sanitation across Maharashtra. We laud such collaborative efforts, which are indeed essential to achieve the sustainable development goals.”
Commenting on the launch of the CSR initiatives, Hyundai Motor India Ltd MD & CEO Unsoo Kim said, “At Hyundai, we believe in Creating Shared Value and driving positive change in the communities we serve. Aligned with Hyundai’s global vision of ‘Progress for Humanity,’ Hyundai Motor India Foundation has been at the forefront of numerous impactful CSR initiatives aimed at driving positive change in society. Our latest CSR initiatives in Maharashtra underscore HMIF’s commitment to inclusive growth and community development. We are dedicated to supporting the differently abled, enhancing healthcare access, and improving the overall well-being of society.”
Art for Hope – Season 3:
Art for Hope, now in its third season, is a flagship program under HMIF’s inclusive arts initiative. The 2-day exhibition at Bombay Art Society showcases the artworks of 10 specially-abled artists who received grants under this initiative. This exhibition is an extension of the display of 40 grant winners’ projects at Triveni Kala Sangam, New Delhi, in March 2024. Besides grants, the 10 artists from Chennai, Mumbai, Ghaziabad, Bengaluru, and Noida underwent virtual upskilling training on soft skills, art management and personal branding, along with their caregivers. The initiative aims to empower artists by providing sustainable, inclusive, and unbiased income opportunities, in line with the Samarth initiative by Hyundai.
Establishment of 5 Telemedicine Clinics and deployment of 2 Mobile Medical Vans:
In a significant boost to healthcare access, HMIF has set up 5 telemedicine clinics in underserved areas of Maharashtra, benefiting people in Pait, Kadus, Wada, Navalak, Umbare, and Sudumbare villages in the district of Talegaon. These clinics will provide essential medical consultations and healthcare services remotely, bridging the gap between healthcare providers and patients in remote regions. With this addition, HMIF will operate 40 telemedicine units across India, aiming to reach 50 units nationwide.
HMIF has also introduced 2 customized mobile medical vans equipped with essential medical facilities to serve remote and underprivileged areas of Nagpur and Aurangabad, offering diagnostics and treatment directly to those in need. Together, the telemedicine clinics and medical vans will cater to a rural population of over one million across the districts.
Installation of 100 water RO systems in schools:
In a move to ensure clean drinking water for students, HMIF has installed 100 RO plants across 100 schools of Gadhchiroli, the forest district in Maharashtra. This initiative aims to promote better health and hygiene among students, contributing to a conducive learning environment. This project will benefit 35,000 schoolchildren in the region.
These initiatives are part of HMIF’s broader strategy to contribute meaningfully to the United Nations’ Sustainable Development Goals (SDGs) and align with Hyundai Motor Company’s global vision of ‘Progress for Humanity.’ Through these efforts, HMIF continues to build on its legacy of social responsibility and community development.
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UK’s OnlyFans seeks US investor at $3bn valuation after owner’s death
The adult video platform is seeking stability after the death of its billionaire owner
LONDON: OnlyFans is looking for a new partner. The London-based adult video platform is in advanced talks to sell a minority stake of less than 20 per cent to Architect Capital, a San Francisco-based investment firm, in a deal that would value the business at more than $3bn (£2.2bn).
The move is driven by an urgent need for stability. Leonid Radvinsky, the Ukrainian-American billionaire who owned OnlyFans, died of cancer last month at the age of 43, leaving the future of one of Britain’s most profitable privately held businesses suddenly uncertain.
The choice of Architect Capital is not arbitrary. The firm has deep expertise in financial services, which aligns neatly with OnlyFans’ ambitions to offer banking products to its creators, many of whom have long struggled to access basic financial services because of the nature of their work.
The numbers behind OnlyFans are, by any measure, staggering. The platform posted revenues of $1.4bn in the year to 30th November 2024, with a pre-tax profit of $684m, up four per cent on the prior year. Payments to creators totalled $7.2bn over the same period, a rise of nearly ten per cent. Radvinsky personally collected $701m in dividends from the business in 2024 alone, on top of more than $1bn in such payments he had already received. The platform, run through its parent company Felix International, hosts 4.6m creator accounts, with performers keeping 80 per cent of subscription proceeds and the platform pocketing the remaining 20 per cent. It has 377m fan accounts in total.
The current minority stake talks represent a notable scaling back of ambitions. In January, OnlyFans was reported to be in discussions with Architect about selling a majority stake of 60 per cent. Before that, the company had explored a sale to a consortium led by Forest Road Company, a Los Angeles-based investment firm. Neither deal materialised.
OnlyFans has built an enormously lucrative business on content that mainstream finance has long refused to touch. Now, with its owner gone and a $3bn valuation on the table, it is looking for the kind of respectable institutional backing that might finally persuade the banks to take its calls.
