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'Difficult to pretend all is well': T Raja Singh quits BJP over Ramchander Rao's likely appointment as Telangana unit chief

Economic Times

Economic Times · 1m ago

'Difficult to pretend all is well': T Raja Singh quits BJP over Ramchander Rao's likely appointment as Telangana unit chief

Telangana BJP MLA T Raja Singh resigned from the party due to reports of Ramchander Rao's potential appointment as the state's BJP chief, which he and many supporters found disappointing. The BJP had issued a notification for the election of its Telangana state president. The current speculation over the successor to the state's BJP unit leader includes names like Rajya Sabha member K Laxman and others, with considerations for leaders from backward sections amid Congress's focus on social justice.

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Dealshare names Kamaldeep Singh as CEO, third cofounder Medda quits

Economic Times

Economic Times · 1y ago

Dealshare names Kamaldeep Singh as CEO, third cofounder Medda quits

Troubled ecommerce firm Dealshare has appointed Kamaldeep Singh as its CEO, following an investor-led restructuring. The appointment comes after a six-month selection process by a global executive search firm. Singh, who was previously the CEO of BigBazaar, joined Dealshare in December 2022 as the president of the retail business. Another co-founder, Sourjyendu Medda, has also left the company, joining the ranks of other former executives who have moved on from Dealshare. The company is focused on transitioning from an online-only model to a hybrid model combining online and offline operations.

Milky Mist converts to public company as IPO nears

Entrackr

Entrackr · 2m ago

Milky Mist converts to public company as IPO nears

Dairy company Milky Mist moves a step closer to its Rs 2,000 crore initial public offering as it passes a resolution to convert into a public company. Dairy company Milky Mist moves a step closer to its Rs 2,000 crore initial public offering as it passes a resolution to convert into a public company. This development follows the recent appointment of two independent directors, Radha Venkatakrishnan and Mallika S Janakiraman, as exclusively reported by Entrackr in April. The board at Milky Mist passed a special resolution to change its status to a public company and rename it from “Milky Mist Dairy Food Private Limited” to “Milky Mist Dairy Food Limited”, as per its regulatory filing. According to media reports, the company is planning to launch a Rs 2,000 crore IPO, which will include both fresh shares and an offer for sale. The IPO is expected to value the company at around $2.3 billion, with JM Financial, IIFL Capital, and Axis Bank likely to be the lead managers. Founded by T. Sathish Kumar, Milky Mist operates a direct farm-to-fork model, sourcing milk directly from farmers and producing over 150 SKUs across 20 categories, including curd, paneer, ghee, and cheese. It also offers online purchase of its products and controls the entire supply chain to ensure quality, with distribution focused mainly in South India. In the fiscal year ending March 2024, the company posted a 33% year-on-year revenue growth, reaching Rs 1,900 crore. However, its profit declined to Rs 19.46 crore in FY24 from Rs 28 crore in the previous fiscal. Milky Mist joins the league of companies such as boAt, Pine Labs, OfBusiness, Shiprocket, and Shadwofax which turned into public entities as they anticipate their initial public offerings in near future or 2025.

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