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News on Medial
Bikaji Foods' management snubs prospects of possible sale
VCCircle
·
11m ago
Medial
Bikaji Foods, an Indian snacks maker, has stated that it is not for sale and is instead looking to expand its own business. The company aims to capitalize on the increasing demand for savoury brands in India, a top executive has revealed. Bikaji's decision comes after talks of acquisitions between Tata Group and Haldiram's, its primary competitor. Bikaji plans to focus on acquisitions that can help expand distribution and boost its presence in the frozen-food market. The company has a budget of INR 1-1.5 billion ($12-18 million) for potential targets.
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Bikaji Foods Acquires 49% Stake In Bhujialalji For Rs 5.10 Crore
OutlookIndia
·
2y ago
Medial
Bikaji Foods, an e-commerce startup, acquired a 49% stake in BhujiaLalJi for INR 5.10 crore. This strategic move aims to strengthen Bikaji's position in the food industry by integrating BhujiaLalJi's expertise and products. The acquisition is expected to boost both companies' growth and expand their market presence in the competitive e-commerce sector. The transaction included 9,608 equity shares and 396 CCDs at Rs 5100 value per security, with the face value of each equity share standing at Rs 10
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Quant MF front-running case: Reliance, Adani Power, IRB Infra, SAIL among top holdings of Quant Smallcap | Mint
Livemint
·
1y ago
Medial
Quant Mutual Fund's small-cap investment vehicle holds a diverse portfolio of stocks, including Reliance Industries, HDFC Bank, IRB Infrastructure, RBL Bank, and Jio Financial Services. The fund is currently under investigation for allegedly engaging in front-running practices. Around 68% of the fund is invested in small-cap stocks, while 28% is invested in large-cap stocks. The top holdings of the Quant Small Cap Fund include Reliance Industries, Jio Financial Services, HDFC Bank, IRB Infrastructure Developers, and Bikaji Foods International. The fund house has issued a statement expressing its commitment to cooperate with regulators regarding the investigation.
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Cookies, cakes & stakes: Theobroma may change hands
Livemint
·
1y ago
Medial
The promoters and investors of Theobroma Foods, a popular patisserie chain in India, are in talks with merchant bankers for a stake sale. ICICI Venture, which currently holds a 42% stake in the company, is looking to sell its entire stake for around ₹1,200 crore. The chain's founding family is also planning to exit. Theobroma Foods, founded in 2004, has grown to become a pan-India chain with 194 stores. The company is expected to be valued at around ₹2,800 crore. The formal sale process is yet to be launched.
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Exclusive: Biden admin snubs Tesla's $100M funding request for big rig charging — again
TechCrunch
·
6m ago
Medial
The Biden administration has again denied Tesla's request for nearly $100 million in funding for a big-rig charging corridor, despite awarding $636 million for electric vehicle infrastructure to 49 applicants. Tesla, partnering with California’s South Coast Air Quality Management District, hoped to build nine charging stations for its Semi trucks. The rejection occurs amid Tesla's struggles to advance its electric big rig program. Future funding opportunities remain uncertain under the incoming administration.
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Amazon's fight with unions heads to its grocery aisles
Economic Times
·
6m ago
Medial
Employees at a Philadelphia Whole Foods are voting on forming a union to negotiate better wages and benefits, marking Amazon's grocery venture's first such effort. Workers seek higher pay, health insurance for part-timers, and job protection. Management opposes the union, increasing employee scrutiny. An unfair labor practice complaint was filed against Whole Foods. The unionizing effort aligns with broader Amazon employee movements, though management challenges persist, potentially influenced by political changes.
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Rebel Foods raises $25 Mn from QIA: Report
Entrackr
·
3m ago
Medial
Cloud kitchen company Rebel Foods, which is set for a public-market listing in 2025-26, has reportedly raised $25 million (about Rs 212.71 crore) from Qatar Investment Authority. Mint, which reported the development first, added that the company raised the capital at a valuation of $1.4 billion. The fresh funds will be used to expand its physical restaurants and food courts business. Rebel Foods declined to comment on the story. In December 2021, the firm announced its Series G funding round of $210 million, comprising a mix of primary and secondary share sales. It has raised $773 million to date from KKR, Temasek, Lightbox, Evolvence, and others. Rebel Foods currently claims to have over 450 cloud kitchens across India, MENA, Indonesia, UK, including 75 cities in India. Its major competition includes horizontal and vertical foodtech plays including Curefoods, EatClub, Biryani By Kilo, FreshMenu, Biryani Blues, Kitchens@, Bigspoon, and HOI Foods. In February this year, Rebel Foods announced that it has launched its 15-minute food delivery app, QuickiES. Rebel Foods’ revenue from operations grew to Rs 1,420 crore in FY24 as compared to Rs 1,195 crore in FY23. The company generates most of its revenue through its core operations (sale of food), contributing 96.7% of the total operating revenue in FY24. It is a full-stack food tech firm that makes money from the sale of food through its owned stores and kitchens.
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Exclusive: Reliance To Acquire TagZ Foods For INR 28 Cr In A Fire Sale
Inc42
·
8m ago
Medial
Reliance Consumer Products, a subsidiary of Reliance Retail, is acquiring TagZ Foods, a direct-to-consumer snacking startup, for INR 28 Cr ($3.5 Mn). The acquisition comes as a distress sale for TagZ, which has previously raised a total funding of about $3.2 Mn.
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Temasek to acquire Rebel Foods stake for $180-200 million
Livemint
·
9m ago
Medial
Singapore's Temasek Holdings is reportedly set to acquire a 20-25% stake, worth $180-200 million, in Rebel Foods, making it the largest shareholder of the cloud kitchen chain. The stake is being purchased from existing investors Coatue Management, Lightbox, and Peak XV. Rebel Foods, which operates popular cloud kitchen brands like Faasos and Behrouz Biryani, is planning an IPO within the next 12-18 months. The funding will be used to expand Rebel Foods' food court business, Eatsure. The company currently operates over 450 kitchens in more than 70 cities and has a portfolio of 45 brands across multiple countries.
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General Atlantic-backed firm mulls IPO; NIIF-backed lender seeks funding
VCCircle
·
1y ago
Medial
Capital Foods Ltd, a company backed by private equity firm General Atlantic, is considering an IPO after discussions to sell a majority stake failed. Capital Foods is known for its popular brands, including Ching's Secret noodles and Smith & Jones spices. The decision to explore an IPO comes as an alternative to the failed stake sale. In another development, a lender backed by the National Investment and Infrastructure Fund (NIIF) is seeking funding.
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Grapevine: Dunzo, HUL, Minimalist, Zepto, Blackstone, and EPL in news
VCCircle
·
7m ago
Medial
Dunzo is reportedly facing a possible distress sale, with media reports indicating that Hindustan Unilever is eyeing the acquisition of Minimalist, backed by Peak XV. Meanwhile, Zepto is gearing up for a stock market listing. Additionally, Blackstone is seeking an adviser to facilitate the sale of its stake in EPL. These developments highlight significant strategic movements among these companies as they navigate challenges and opportunities in their respective industries.
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