Tata Consumer Products (TCPL) has decided to restructure the business of it’s 57.48% subsidiary Tata Coffee Limited (TCL). The proposed restructuring includes the following – Demerger of TCL’s plantation business into a new 100% subsidiary of TCPL. Merger of the remaining TCL’s business into TCPL. TCPL’s shareholding in TCL would be cancelled and non-promoter TCL’s … Read more
The Securities and Exchange Board of India (Sebi) on Monday provided a 3-day window to investors in Ruchi Soya’s follow-on public offer (FPO) to withdraw their bids. The option is available to all investors or bidders, except for anchor book participants. Sebi’s order comes following the circulation of unsolicited SMS advertising the company’s FPO. The … Read more
The company has acquired the prickly heat talc brand from Reckitt. Key points to note – Consideration is Rs 432 crore to be funded entirely from the internal accruals. Emami had cash equivalents of Rs 406 crore as on September 30, 2021 and generated operating cash of Rs 922 crore in FY 21. Funding of … Read more
Future Retail had been subleasing store space from the tycoon’s Reliance Industries Ltd. Indeed, it was kept operating only on Ambani’s forbearance because Future couldn’t come up with the rent. But with Amazon.com continuing to block Reliance’s $3.4 billion purchase of Future’s assets, Ambani decided to make the acquisition a fait accompli: He terminated the leases and is taking … Read more
Pratik Pota has resigned as the CEO of Jubilant Foodworks. Key points to note – Pota had joined Jubilant in March 2017 from Pepsico. Pota is widely regarded as the man behind Jubilant’s turnaround. The Company was facing significant headwinds and was struggling operationally before he had joined. Since his joining, the Company has witnessed … Read more
Colgate Palmolive India (CPI) has informed the following top management changes – The current CEO and MD, Mr. Ram Raghavan has been promoted as President, Enterprise Oral Care, for Colgate Palmolive Company, the parent Company of CPI and will be based out of its headquarter at New York. In place of Ram, CPI has hired … Read more