With investor interest in Indian tech startups’ public listings reigniting, food and grocery delivery giant Swiggy is contemplating an increase in the fresh issue size for its upcoming initial public offering (IPO).
Ikea, the global furniture retailer, is seeking new investments for its priority market, India, as it embarks on its second growth phase, according to Susanne Pulverer, CEO of Ikea India. The company plans to launch small-format stores ranging from 30,000 to 70,000 square feet near its existing and upcoming large-format stores, while also expanding its online presence in the country.
Hindustan Unilever’s (HUL) move to form a committee of independent directors to evaluate its ice-cream business has sparked significant interest from various companies, with many anticipating that the consumer goods leader will eventually divest the business, according to industry insiders.
Buoyed by ample funding and growing demand, India’s quick commerce sector is experiencing rapid expansion. Zepto, Blinkit, and Swiggy Instamart have become key players, but competitors such as Flipkart Minutes, JioMart, and BigBasket are aiming to challenge their dominance.
With quick commerce gaining traction in online shopping, players in the sector are anticipated to experience a significant boost in sales during the upcoming festive season. To capitalise on this surge in demand and secure their market position amidst growing competition, Zepto, Swiggy Instamart, and Blinkit are expanding into new cities ahead of the festivities.
Devrana has announced the launch of a new express outlet in Imphal, strategically positioned to offer convenient access to its premium vegetarian cuisine.
Building on the success of its Meerut outlet, Devrana’s new establishment in Imphal marks the brand’s ongoing expansion strategy. With an investment of around INR 80 lakh, this venture highlights Devrana’s commitment to offering the Imphal community efficient service and authentic culinary experiences.
Tilaknagar Industries, an Indian-Made Foreign Liquor (IMFL) manufacturer, will make a follow-on investment of INR 13.15 crore in Spaceman Spirits Lab (SSL) over the next 18 months, using internal cash resources. This follows an earlier investment of INR 9.75 crore for a 10% stake in SSL, the company stated in a media release.
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Abhishek Ganguly, ex-MD of Puma India, plans to double the production capacity of Mochiko, the B2B sports footwear manufacturer he acquired last year through his athleisure startup Agilitas Sports, over the next 3-4 years.
Auréa, the growth capital firm co-founded by British cosmetics mogul Mike Jatania and investment expert Paul Raphael, has acquired the UK-based personal care brand The Body Shop.
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Korean brand Daewoo has announced its expansion into the kitchen and home appliances sector in India, aiming to capture a larger share of the growing market. Since entering the Indian market last year, the company has offered a range of products, including LED TVs, IFP LED TVs, and Alkaline and battery inverters.
The company noted that its entry into India has been highly successful, leading it to fast-track its growth in the domestic market and broaden its product range with smart kitchen and home appliances.
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