Restructuring/ consolidation continues at Raymonds. It has taken further key decisions – 1. The associate Company, Raymond Consumer Care Limited (RCCL), sells FMCG business to Godrej Consumer Products (GCPL). The divested business include condom brands KamaSutra and Premium and deodorant brands Park Avenue and DS. Raymond’s condom plant in Aurangabad, Maharashtra, will continue to do the … Read more
Earlier this month, Zomato owned Blinkit announced a revised pay structure for it’s delivery executives. Previously, they were being paid a fixed Rs 25 per delivery and peak-hour incentive of Rs 7 per trip It has now been revised to a minimum of Rs 15 per trip with a distance-based component This led to the … Read more
As per newspaper reports, Sanofi India is working on spinning off it’s consumer healthcare business in India in a separate listed entity. The subject unit’s products include leading anti-allergy brands such as Allegra and Avil, pain management drug Combiflam and Vitamin D brand Depura. The business posted revenue of Rs 1,000-1,250 crore in CY22 (against … Read more
ITC‘s Chairman and MD, Sanjiv Puri has shared the following – Indian FMCG industry will bounce back by volume sales growth from FY24, led by rural demand, with early signs of recovery already visible. concerns around monsoons this year can be a dampener (he didn’t mention it) ITC will accelerate investments across businesses back to … Read more
Crompton had acquired controlling stake in Butterfly last year. For details check here. Currently, Crompton owns 75% stake in the Company, previous promoter group 7.78%, DIIs 5.61% and balance 11.58%Â by public. Crompton has now decided to merge Butterfly within itself. Consequently, there would be only one listed entity i.e., Crompton and other shareholders of … Read more
Mahindra & Mahindra (M&M) is currently undergoing an extensive reorganisation exercise. It recently, Separated out the Passenger EV business Sold stake in the renewable business Partnered Actis to develop warehousing Now it has announced separating out the Last Mile Mobility Business and is also raising external funding in it from IFC. Last mile mobility business … Read more
In September 2021, SpiceJet had taken shareholders’ approval to transfer it’s cargo and logistics services business to its subsidiary, SpiceXpress and Logistics Private Ltd. (SLP), on a slump-sale basis, for Rs 2,555.77 cr. In it’s board meetings dated February 27, 2023, it has finally fixed April 1, 2023 as the date from which cargo business … Read more
Bombay High Court has quashed the write off of Rs 8,500 crore additional Tier-1 (AT1) bonds issued by Yes Bank (YBL); write off was part of a restructuring plan to rescue the Bank in March 2020. “It appears that administrator exceeded his powers and authority in writing off AT-1 bonds after the bank was reconstructed … Read more
IIFL has decided to streamline the focus and remove the business overlap amongst it’s group entities, 5Paisa Capital and IIFL Securities (IIFLS). Pursuant to the reorganisation, Online Retail Trading (ORT) Business of IIFLS is being transferred to 5Paisa. The business being transferred is where customers are digital savvy and/ or millennials. They only need a … Read more