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Bhartia Family, Goldman Sachs in talks for 40% stake in Hindustan Coca-Cola Beverages

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Ashutosh Dubey
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Bhartia Family, Goldman Sachs in talks for 40% stake in Hindustan Coca-Cola Beverages

The Bhartia family, led by brothers Shyam and Hari, is in advanced negotiations with Goldman Sachs to acquire a 40% stake in Hindustan Coca-Cola Beverages (HCCB), Coca-Cola’s wholly-owned bottling arm in India. Goldman Sachs is expected to finance the deal through a convertible preferred equity instrument worth INR 3,000-3,500 crore.

Investment to route via Goldman Sachs Alternatives

According to sources, the Bhartia family will also invest a similar amount, with Goldman Sachs capping their upside on the investment at 20% IRR with downward protection. The investment will be routed through Goldman Sachs Alternatives, the firm’s growth and private equity arm.

Continue Exploring: Amul sets course for Europe following successful US launch

Meanwhile, the deal is seen as a precursor to HCCB’s initial public offering (IPO), expected within two to three years. Coca-Cola aims to replicate rival PepsiCo‘s asset-light model, outsourcing bottling operations to unlock value.

“Hindustan Coca-Cola Beverages is lining up a $1.5 billion capital expenditure program over five years,” a source revealed. “This includes plans to invest INR 3,000 crore in a juice and aerated drinks facility in Gujarat and INR 350 crore in a new plant in Madhya Pradesh.”

HCCB reports revenue jump to INR 14,021 Cr

Further, HCCB reported a 9.2% jump in FY24 revenues to INR 14,021 crore, with net profit soaring 247% to INR 2,808.3 crore. The company operates 13 factories across India, manufacturing 37 products across eight categories.

Continue Exploring: Nykaa targets 2-hour delivery for key products, moves from 10-minute model

Additionally, the Bhartia family, known for their pizza-to-pharma conglomerate, has been in discussions with alternative asset managers and foreign banks to raise over $1 billion in financing.

“Goldman Sachs is betting on growing beverage consumption in India,” a source said. “The firm’s alternatives platform has backed several high-growth companies in India, including Biocon Biologics and API Holdings.”

In a recent development, Morgan Stanley is advising the Bhartia family on the debt capital raise from mutual funds, running parallel to the Goldman negotiations.

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Zomato welcomes Swiggy for stock market debut: “You and I… In this beautiful world”

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Ashutosh Dubey
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Zomato welcomes Swiggy for stock market debut: “You and I... In this beautiful world”

Food tech major Zomato warmly welcomed Swiggy‘s debut on the stock market with a heartfelt social media post on Tuesday, November 13.

Swiggy and zomato personnel at BSE

“You and I… In this beautiful world,” read Zomato’s post on X. The post included an image of Swiggy and Zomato delivery personnel in front of the Bombay Stock Exchange (BSE) building. It featured a banner announcing Swiggy’s listing, showing a friendly gesture between the two biggest delivery platforms of the country.

Continue Exploring: Swiggy to create 500 Crorepati employees via ESOP before IPO

Meanwhile, Zomato CEO Deepinder Goyal extended Congratulations to Swiggy on Its Successful Listing. Goyal took to social media and said, “Congratulations Swiggy!” Goyal said. “Couldn’t have asked for a better company to serve India with.”

Swiggy boast 7.69% premium over IPO of INR 390

Notably, Swiggy is now listed on the BSE and NSE after its IPO. Shares started trading at INR 420 on the NSE, a 7.69% premium over the IPO price of INR 390, better than expected. The IPO price range was INR 371 to INR 390 per share, raising INR 11,327 crore, with strong interest from institutional investors. Qualified Institutional Buyers (QIBs) subscribed 6.02 times, while retail investors subscribed 1.14 times.

Continue Exploring: Day 3: Swiggy’s IPO oversubscribed by 3.59 times, led by QIBs

Further, Swiggy’s IPO was oversubscribed by 3.59 times, although non-institutional investors showed less interest, with subscriptions at 0.41 times. The listing provided significant returns for major investors like Prosus NV.

As of 11:53 a.m., Swiggy shares were trading at ₹442.35 on the National Stock Exchange (NSE).

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Swiggy to create 500 Crorepati employees via ESOP before IPO

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Ashutosh Dubey
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Swiggy to create 500 Crorepati employees via ESOP before IPO

Swiggy‘s upcoming public market listing is expected to make about 500 employees crorepatis due to stock options given through the company’s ESOP (employee stock option plan) over the years.

Swiggy grants stock options to 3,965 employees, adds more

According to INC42, Swiggy granted stock options to 3,965 employees under its ESOP 2015 scheme. The ESOP 2021 plan included 67 employees, as well as key management personnel. The company also offered stock options under ESOP 2024, but it’s unclear how many employees received them.

Continue Exploring: Nykaa targets 2-hour delivery for key products, moves from 10-minute model

Sources mentioned that around 5,000 current and former Swiggy employees own shares in the company. Through its three stock option schemes, Swiggy has given a total of 22.97 crore stock options to its employees. At the highest IPO price range of INR 371-390, these stock options are worth about INR 8,959 crore (approximately $1.06 billion) in total.

Swiggy to list on NSE and BSE on Nov 13

Meanwhile, the food tech major’s shares will be listed on the BSE and NSE on Wednesday (November 13). The IPO was oversubscribed by 3.59 times, receiving bids for 57.53 crore shares compared to the 16.01 crore shares available. The total IPO size was INR 11,324 crore, with a fresh issue of INR 4,999 crore and an offer for sale (OFS) of 17.5 crore shares.

Continue Exploring: Day 3: Swiggy’s IPO oversubscribed by 3.59 times, led by QIBs

Further, Tencent, Alpha Wave, Goldman Sachs Asia, Norwest Venture Partners, and Times Internet, among others, sold their shares in the OFS. Swiggy’s early investors, Accel India and Elevation Capital, will gain over 34 times their original investment by selling part of their stake. Meanwhile, Prosus will earn INR 4,254.7 crore (about $500 million), achieving a 3X return on its investment from the IPO.

Founders Sriharsha Majety, Nandan Reddy, and Rahul Jaimini are also set to earn significant amounts from the IPO. Reddy and Majety will each get INR 68.08 crore by selling 17.45 lakh shares, while Jaimini will earn INR 45.38 crore by selling 11.63 lakh shares.

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Nykaa targets 2-hour delivery for key products, moves from 10-minute model

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Ashutosh Dubey
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Nykaa targets 2-hour delivery for key products, moves from 10-minute model

Amid the quick-commerce boom in India, Nykaa is not focusing on 10-minute deliveries. Instead, the beauty and fashion ecommerce giant is aiming for delivery times of 30 minutes to 2 hours for select, high-demand beauty products.

Ultrafast delivery doesn’t align with our service – CEO Nykaa

According to INC42, Anchit Nayar, CEO of Nykaa‘s beauty ecommerce business, said in the company’s post-earnings conference call, “Nykaa’s beauty customers often need time to choose the right products, like the correct foundation shade, so ultrafast delivery doesn’t always align with our service.”

Continue Exploring: Sugar Cosmetics crosses INR 500 Cr revenue, registers 20% YoY

Further, Nayar highlighted that Nykaa will provide faster delivery options but won’t sacrifice customer experience in categories that need more thought. However, Nykaa is eager to focus on quickly delivering everyday essential items. These popular beauty essentials are in high demand and are an important part of the company’s business.

Particularly in these categories, Nykaa is introducing fast delivery services in select metro cities, ensuring quick delivery speeds without greatly affecting its margins. Notably, it was reported last month that the company was testing a 10-minute delivery service in parts of Mumbai, covering 10% of its products.

Nykaa claims 70% of next-day delivery

During the call, Falguni Nayar, CEO of Nykaa, mentioned that the company’s investment in infrastructure, especially its network of warehouses in state capitals across India, has improved delivery times. Nykaa now claims that 70% of its orders are delivered the next day, a 45% improvement from before.

Continue Exploring: Cricketer Yuvraj Singh debuts into retail market with guilt-free snacking brand Twiddles

Meanwhile, D2C beauty and fashion major mentioned that their same-day and next-day delivery services cover 80% of deliveries in the top 12 cities and 70% in the top 110 cities of the country, in an investor presentation. Nayar also noted that no extra capital was spent on expanding their warehouse network in the first half of FY25. She stated that the company’s investment in infrastructure is not a heavy expense and is expected to boost profit margins, thanks to Nykaa’s high average order value.

However, the D2C major thinks this expansion will improve its profit margins instead of hurting them. Nykaa’s consolidated net profit increased by 66.3% to INR 12.97 crore in Q2 FY25, up from INR 7.8 crore in the same period last year, driven by strong growth in the beauty and personal care (BPC) segment.

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Sugar Cosmetics crosses INR 500 Cr revenue, registers 20% YoY

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Ashutosh Dubey
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Sugar Cosmetics crosses INR 500 Cr revenue, registers 20% YoY

Sugar Cosmetics, a leading beauty ecommerce brand, has surpassed the INR 500 crore revenue mark in the financial year 2023-24, registering a 20% year-on-year (YoY) growth.

Sugar Cosmetics narrows loss to INR 67.6 Cr

According to INC42, the Vineeta Singh-led company reported INR 505.1 crore in revenue, up from INR 420.3 crore in the previous fiscal year. The D2C company generates revenue through its diverse range of cosmetics and beauty products, including lipsticks, nail polishes, makeup products, moisturisers, and sunscreens. The startup’s net loss narrowed by 11.3% to INR 67.6 crore, driven by growth in sales and improved margins.

Continue Exploring: NSE collaborates with Zomato to introduce financial literacy among delivery partners

Established in 2015 by Vineeta Singh and Kaushik Mukherjee, Sugar Cosmetics began as a direct-to-consumer brand with an online platform. Today, it boasts a presence in over 45,000 retail stores across India, with the country being its largest market. However, global sales declined by 46% to INR 2.6 crore.

Sugar Cosmetics aims to release IPO in 2-3 years

Meanwhile, the company last raised $50 million in its Series D funding round in 2022. Reports suggest Malabar Investments is considering acquiring a stake in the startup through a secondary deal worth INR 80-100 crore.

Further, the company aims to go public through an initial public offering (IPO) within the next two to three years, but only after achieving profitability and exceeding INR 1,000 crore in revenue.

Continue Exploring: Gardening startup Ugaoo secures  INR 47 Cr in Series A funding, eyes expansion

Notably, Sugar Cosmetics’ total expenses increased by 15.5% to INR 583.7 crore, with advertising expenses accounting for over 27% of the total expenditure. The company reduced spending on procurement by 27% to INR 113.4 crore and employee benefits rose to INR 70 crore.

Moving forward, Sugar Cosmetics competes with prominent players like Mamaearth, Nykaa, Maybelline, and Loreal in India’s rapidly growing beauty and personal care segment. With its sights set on IPO, the company is poised for continued growth and expansion. 

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NSE collaborates with Zomato to introduce financial literacy among delivery partners

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Ashutosh Dubey
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NSE collaborates with Zomato to introduce financial literacy among delivery partners

The National Stock Exchange of India (NSE) announced on Tuesday, November 12 that it has partnered with Zomato to promote financial literacy and investor awareness among gig economy workers.

Financial & investor awareness campaign for 50,000 workers

This collaboration will start a wide-reaching financial literacy and investor awareness campaign, specifically for Zomato’s delivery partners, benefiting over 50,000 gig workers across the country, according to the NSE.

Continue Exploring: Nykaa sees 66.3% profit rise to INR 12.97 Cr driven by beauty & personal care arm

As part of the agreement, the program will cover basic personal finance topics like budgeting, saving, investing, managing debt, and insurance. It will be conducted in several regional languages to ensure it reaches a diverse group of gig workers.

“This partnership with Zomato is a significant step in expanding our outreach to a critical segment of the workforce that drives the digital economy. By equipping delivery partners with financial skills, we aim to contribute to their financial independence and overall financial well-being,” Sriram Krishnan, Chief Business Development Officer, NSE, stated according to Business Standard.

Continue Exploring: FMCG giant P&G surpasses $2 Billion sales in India, growth rate slows by half

2,000 delivery partners join initiative with Zomato & NSE

Further, Rakesh Ranjan, CEO of Food Delivery at Zomato, stated that this program is tailored to meet the needs of delivery partners, providing them with the necessary knowledge and skills to achieve financial independence.

He added that more than 2,000 delivery partners have already started their journey toward financial literacy, and the company plans to expand this initiative in the coming months.

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Gardening startup Ugaoo secures  INR 47 Cr in Series A funding, eyes expansion

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Ashutosh Dubey
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Gardening startup Ugaoo secures  INR 47 Cr in Series A funding, eyes expansion

Ugaoo, an urban gardening startup, has raised INR 47 crore (about $5.6 million) in a Series A funding round led by V3 Ventures, with support from existing investors DSG Consumer Partners and RPG Ventures.

Ugaoo to expand in 10 cities with 80 retail stores in 2030

Based in Pune, the company will use the new funds to expand into 10 cities and open 80 retail stores by FY 2030. It also plans to offer more products, including a variety of exotic plants and high-quality plant care items for the Indian market.

Continue Exploring: FMCG giant P&G surpasses $2 Billion sales in India, growth rate slows by half

Established by Siddhant Bhalinge in 2015, Ugaoo provides a variety of plants, including exotic indoor and outdoor types, flowering plants, succulents, and high-yielding vegetable and flower seeds. The startup also offers quality soils, fertilisers, and gardening tools and accessories for both professional and amateur home gardeners.

Ugaoo grows with 30% growth rate 

“The Indian home and garden category is projected to grow at a CAGR of 30%, opening up significant opportunities for Ugaoo. We plan to deploy the funds towards product enhancement, expanding our regional fulfilment centres, and team growth. We will expand via new hubs in Kolkata, Kochi, Lucknow, Chennai, Guwahati, and Ahmedabad” stated Bhalinge, according to INC42.

Continue Exploring: Parag Milk Foods Ltd hits INR 871 Cr in quarterly revenue with 11% volume growth in H1

Earlier in 2021, the company raised INR 15 crore ($2 million) in a Pre-Series A funding round, co-led by DSG Consumer Partners and RPG Ventures. Further, the startup claims its revenue grew from INR 24 crore in FY 2023 to INR 63 crore by the end of FY 2024, due to 100% growth driven by an omnichannel strategy.

Meanwhile, Ugaoo reaches customers all over India through its website, app, and nine stores in Pune, Mumbai, and Bengaluru. It is also available on digital marketplaces like Amazon and Flipkart, as well as quick commerce platforms like Zepto, Swiggy, and Blinkit.

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Amul sets course for Europe following successful US launch

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Ashutosh Dubey
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Amul products
Amul sets course for Europe following successful US launch

After successfully launching in the US, Amul is set to expand into the European market by the end of November. Jayen S Mehta, Managing Director of Gujarat Cooperative Milk Marketing Federation (GCMMF), made the announcement. 

GCMMF is the company behind the popular Amul dairy products.

Amul to available in European market by end of November

According to Economic Times, Mehta announced while addressing a convocation of Indian Institute of Foreign Trade (IIFT), “We will be launching milk…fresh products in Europe by the end of this month.”

Continue Exploring: Amul to expand in US mainstream retail market via Costco

Notably, Amul will initially introduce its products in Spain, followed by a phased expansion into other European countries. According to Jayen S Mehta, the company aims to overcome current non-tariff barriers hindering India’s dairy exports. Removing these barriers will boost export opportunities.

“Try to create a market opportunity for us,” Mehta stated, further adding that milk supports the livelihoods of over 10 crore families in the country, with most producers being small and marginal farmers.

Continue Exploring: Cricketer Yuvraj Singh debuts into retail market with guilt-free snacking brand Twiddles

Amul enters US with Costco Wholesale

In the previous month, Amul Gold entered the US mainstream retail market with gallon packs (3.78 litres) now available at Costco Wholesale. Jayen Mehta, managing director of GCMMF, said, “It is a proud moment for us as we have entered mainstream retail in the US.” 

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Cricketer Yuvraj Singh debuts into retail market with guilt-free snacking brand Twiddles

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Ashutosh Dubey
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Cricketer Yuvraj Singh debuts into retail market with guilt-free snacking brand Twiddles

Cricket legend Yuvraj Singh has launched Twiddles, a brand focused on guilt-free snacking, marking his entry into the consumer goods industry. Twiddles aims to bridge the gap between taste and wellness, offering nutritionally dense snacks for health-conscious consumers.

Twiddles offers product with no preservatives or palm oil

“I believe indulgence and health can go hand in hand,” Yuvraj shared. “As an athlete, I understand the value of balanced nutrition, and with Twiddles, we’re filling a gap by offering snacks that blend rich taste with nutritional benefits, supporting a mindful approach to eating.”

Continue Exploring: FMCG giant P&G surpasses $2 Billion sales in India, growth rate slows by half

Notably, Twiddles’ initial product line includes almond, walnut, and cashew chocolate spreads with up to 70% nuts and seeds, no preservatives or palm oil, and 70% less sugar. The brand also launches date-sweetened snack bites for quick energy.

However, Yuvraj partnered with Alfinity Studios, which co-creates brands with celebrities and influencers. “Healthy or unhealthy, we all eat across the spectrum. Twiddles is here to support that balance with options that fit into any lifestyle,” he added.

Twiddles to be available on e & quick commerce, retail

Further, Kumar Gaurav, co-founder of Alfinity Studios, said, “It’s incredibly exciting to work with Yuvraj on bringing his vision to life with Twiddles. His passion for balanced indulgence is infectious, and we’re proud to co-create a brand with him that’s not just about great taste but a whole lifestyle shift.”

Continue Exploring: Armani Beauty makes Indian debut with flagship store launch in New Delhi

Meanwhile, Twiddles will be available across e-commerce, quick commerce, and retail channels in India, with plans for international expansion within six months. The brand aims to redefine snacking globally with quality, purpose-driven options.

With Twiddles, Yuvraj Singh brings his commitment to health and wellness to the consumer goods market, offering Indian consumers a new choice for guilt-free snacking. As the brand grows, its focus on balanced indulgence is expected to resonate with consumers seeking healthier options.

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Nykaa sees 66.3% profit rise to INR 12.97 Cr driven by beauty & personal care arm

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Ashutosh Dubey
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Nykaa sees 66.3% profit rise to INR 12.97 Cr driven by beauty & personal care arm

Nykaa, a major player in beauty and fashion ecommerce, saw its consolidated net profit rise by 66.3% to INR 12.97 crore in the second quarter of FY25, up from INR 7.8 crore in the same period last year. This growth was driven by strong performance in the beauty and personal care (BPC) segment.

Nykaa registers INR 1,874.74 Cr revenue from operation

According to INC42, profit fell by 4.9% from INR 13.64 crore in the previous June quarter. Revenue from operations increased by 24.4% to INR 1,874.74 crore in the reviewed quarter, up from INR 1,746.11 crore in Q2 FY24. Compared to the previous quarter, revenue grew by 7.2% from INR 1,753.44 crore.

Continue Exploring: Nykaa expands footprint with two new Luxe stores in Delhi-NCR

Meanwhile, Nykaa’s total customer base for beauty, personal care, and fashion increased by 31% year-on-year to 3.72 crore, up from 3.32 crore a year ago. Earlier this month, the company stated it expected revenue growth in the “mid-twenties” percentage range.

D2C major GMV surges to 24% YoY

Furthermore, the D2C major’s investor presentation for the September quarter showed that the company’s gross merchandise value (GMV) rose by 24% year-on-year to INR 3,652.5 crore. EBITDA increased by 29%, reaching INR 103.7 crore, up from INR 80.6 crore in Q2 FY24. Additionally, the EBITDA margin improved by 18 basis points year-on-year to 5.5%.

Founded͏͏ by͏͏ Falguni͏͏ Nayar,͏͏ Nykaa͏͏ provides͏͏ a͏͏ range͏͏ of͏͏ beauty͏͏ and͏͏ fashion͏͏ products͏͏ through͏͏ online͏͏ platforms͏͏ like͏͏ Nykaa͏͏ Fashion,͏͏ Nykaa͏͏ Man,͏͏ and͏͏ Nykaa͏͏ Superstore,͏͏ along͏͏ with͏͏ 174͏͏ offline͏͏ stores͏͏ across͏͏ the͏͏ country.

Continue Exploring: Parag Milk Foods Ltd hits INR 871 Cr in quarterly revenue with 11% volume growth in H1

Nykaa’s͏͏ house͏͏ of͏͏ brands͏͏ features͏͏ well-known͏͏ names͏͏ such͏͏ as͏͏ Kay͏͏ Beauty,͏͏ Nykaa͏͏ Naturals,͏͏ Nykaa͏͏ Cosmetics,͏͏ and͏͏ Wanderlust͏͏ in͏͏ the͏͏ beauty͏͏ segment,͏͏ as͏͏ well͏͏ as͏͏ fashion͏͏ brands͏͏ like͏͏ Nykd,͏͏ Gajra͏͏ Gang,͏͏ Likha,͏͏ RSVP,͏͏ and͏͏ Pipa͏͏ Bella.͏͏ Renowned͏͏ for͏͏ its͏͏ authenticity͏͏ and͏͏ customer͏͏ focus,͏͏ Nykaa͏͏ has͏͏ become͏͏ the͏͏ preferred͏͏ partner͏͏ for͏͏ international͏͏ brands͏͏ entering͏͏ the͏͏ Indian͏͏ market.

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