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News on Medial
The value from Patanjali Foods’ acquisition of promoter business lies in the future
Money Control
·
1y ago
Medial
Patanjali Foods is set to acquire the non-foods FMCG business of Patanjali Ayurved. Previously known as Ruchi Soya Industries, Patanjali Foods was renamed after Patanjali Ayurved acquired Ruchi Soya. After previously acquiring Patanjali Ayurved's foods business, such as biscuits and ghee, Patanjali Foods is now acquiring its home and personal care business. The acquisition will be made through a combination of cash and royalty payments.
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Adani Wilmar to acquire Tops ketchup maker G.D. Foods
Livemint
·
5m ago
Medial
Adani Wilmar Ltd has announced the acquisition of G.D. Foods Manufacturing, the producer of Tops ketchup and noodles, at an enterprise value of ₹603 crore. This acquisition will occur in multiple phases, starting with 80% of the shares in the first tranche. The purchase aims to expand Adani Wilmar's presence in the food FMCG sector by leveraging G.D. Foods' established products and distribution network. The acquisition aligns with Adani's strategy to strengthen its food business.
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GQG Partners buys 0.8 per cent stake in Airtel for over $700 million
Thehindubusinessline
·
1y ago
Medial
US investment firm GQG Partners has acquired a 0.8% stake in Indian telecom company Bharti Airtel from Singapore Telecommunications (Singtel) for $712.5m. Singtel sold 49 million shares at INR 1,193.7 each, reducing its stake in Airtel to 29%. GQG Partners made headlines in March 2023 when it invested in Adani Group companies. The firm has also invested in other Indian firms, including JSW Energy, Patanjali Foods, IDFC First Bank and GMR Airports Infrastructure, with its India portfolio valued at around $22bn. Singtel said the deal was part of its capital recycling efforts to unlock value.
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Inside Zoff’s Cookbook: How This Spice Brand Achieved 4X Revenue Growth
Inc42
·
1y ago
Medial
Akash Agrawal, an MBA in marketing, was running his family's steel business in Raipur when he realized the potential of the global spice market. Seeing a lack of innovation in the industry, he decided to launch his startup, Zoff Foods, to offer value-added spice products. Recognizing the need for readily available items, Zoff Foods sells on various marketplaces and has seen significant growth, with monthly turnover reaching INR 5-6 Cr. Agrawal believes that tapping into general trade aggressively will be key to the company's future success.
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Patanjali, DS Group to buy Magma General for over $500 mn to enter insurance sector
VCCircle
·
4m ago
Medial
Patanjali Ayurved Ltd and DS Group are entering India's insurance sector by acquiring Magma General Insurance Ltd for over $500 million. The acquisition involves purchasing stakes from Sanoti Properties, Celica Developers, and Jaguar Advisory Services, valuing Magma General at approximately Rs 4,500 crore ($517 million). Magma General offers over 70 insurance products and holds a 1.05% market share in the non-life insurance segment. Patanjali aims to leverage its distribution network and growth capital to enhance Magma's market presence.
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Adar Poonawalla to sell Magma Insurance stake to Baba Ramdevs Ramdev Patanjali DS Group
Business Today
·
4m ago
Medial
Adar Poonawalla's Sanoti Properties is set to sell its 98% stake in Magma Insurance to Patanjali Ayurved and DS Group for Rs 4,500 crore. Magma General Insurance offers both retail and commercial products, including vehicle, health, and home insurance, among others. With projected premium growth, the strategic acquisition by Patanjali and DS Group aims to expand their presence in the insurance market, challenging existing players and introducing new competitive dynamics.
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The year 2024 is for scaling up GenAI pilots: IBM Consulting's Matthew Candy
Livemint
·
1y ago
Medial
IBM Consulting is focusing on three main areas for the application of Generative AI (GenAI): customer care and experience, digital labor in HR and talent acquisition, and application modernization. The company aims to leverage GenAI to improve call handling times, reduce content creation costs, and enhance supply chain efficiency. IBM emphasizes the importance of responsible implementation of AI and advises organizations to establish appropriate AI models and data foundations to address bias. The key to scaling up GenAI projects lies in having a clear strategy aligned with business value, a multi-cloud approach, and the availability of necessary skills within the organization.
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Bulk deals: Vanguard Index Funds buys stake in Sundaram Finance
Money Control
·
1y ago
Medial
Vanguard Index Funds made significant purchases in various Indian companies, including Sundaram Finance, CMS Info Systems, Gokaldas Exports, Electrosteel Castings, Kopran, South Indian Bank, Voltamp Transformers, and Powergrid Infrastructure Investment Trust. Notable buyers include Vanguard Emerging Markets Stock Index Fund and Vanguard Total International Stock Index Fund, while sellers include UBS Principal Capital Asia and Patanjali Foods. The transactions resulted in changes in the stakes and stock prices of the respective companies.
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ITC to buy 24 Mantra Organic for Rs472.5 crore to power its healthy foods portfolio
Business Today
·
3m ago
Medial
ITC Limited acquired 24 Mantra Organic from Sresta Natural Bioproducts for Rs472.5 crore. The acquisition aims to enhance ITC's healthy foods portfolio by leveraging SNBPL's sourcing network and backend capabilities, complementing ITC's existing packaged foods offerings.
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GQG takes ₹1,527 cr stake in IDFC First
Livemint
·
1y ago
Medial
Cloverdell Investment Ltd, an institutional shareholder in IDFC First Bank, has sold a 4.2% stake in the bank for INR 2,480.3 crore (approximately $335 million) through a bulk deal on the exchanges. The sale included shares purchased by GQG Partners, which has been making significant investments in Indian firms, including Adani group companies and Patanjali Foods Ltd. IDFC First Bank's stock has performed well in recent months, gaining 28.7% in the past three months.
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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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