Monday, December 22, 2025
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Rapido Hits $2.3 Billion Valuation as Swiggy Exits With ₹2,400 Crore Payout

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Bengaluru-based ride-hailing startup Rapido is in advanced talks to raise between $500 million and $550 million through a mix of primary and secondary share sales, with food delivery major Swiggy set to offload its holding. The round, among the largest venture financings this year, values Rapido at about $2.3 billion, more than double its $1.1 billion mark in February.

People familiar with the matter said the primary infusion is pegged at $300 million, led by Prosus with $240–250 million, and WestBridge Capital bringing in the remainder. The secondary leg will see Swiggy exit its 11.8 per cent stake for $270 million (₹2,400 crore), with Prosus and WestBridge absorbing the shares. Both investors already count among Rapido’s top backers, with WestBridge holding nearly 19 per cent and Prosus also the largest shareholder in Swiggy at 23 per cent.

For Swiggy, which invested close to ₹1,000 crore in Rapido in 2022, the exit delivers a 2.4x return. The move comes amid a cash crunch at its quick commerce arm Instamart, where it spent over ₹1,050 crore in the June quarter. As of June 30, Swiggy reported ₹5,354 crore in cash reserves, significantly lower than Blinkit parent Eternal, which had more than ₹18,000 crore on hand. Analysts say the Rapido sale will add some cushion but may not eliminate the need for further fundraising.

Rapido, meanwhile, will use the fresh capital to expand its ride-hailing footprint and strengthen food delivery offshoot Ownly. The company claims leadership in the overall ride-hailing market, though it trails Uber in the four-wheeler category. Rapido reported FY24 operating revenue of ₹648 crore, up 46 per cent year-on-year, while trimming losses by 45 per cent to ₹371 crore. Growth in FY25 is estimated at over 40 per cent, according to people aware of internal numbers.

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Patanjali Wins Partial Relief: Court Says ‘Ordinary Chyawanprash’ Tag Allowed, Dabur’s 61.6% Market Share Still Under Spotlight

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The Delhi High Court on Tuesday delivered its ruling in an advertising tussle between Patanjali Ayurved and Dabur India, allowing Patanjali to continue using the phrase “why settle for ordinary chyawanprash” but directing the company to withdraw references that specifically target Dabur’s 40-herb formulation.

A division bench of Justices C Hari Shankar and Om Prakash Shukla held that while comparative advertising and “puffery” are permissible, Patanjali’s direct claim that rival chyawanprash is made with only 40 herbs unfairly singled out Dabur. The court observed that modern advertising permits a brand to say “I am the best and others are not as good,” but drew a line at statements that could mislead consumers about product composition.

The ruling came in response to Patanjali’s appeal against a July interim order of a single judge, which had restrained the company from airing parts of its commercials alleged to disparage Dabur.

Dabur, which commands an estimated 61.6 percent share of India’s chyawanprash market, argued that Patanjali’s advertisements not only belittled its product but also spread misinformation. Dabur said Patanjali falsely claimed its chyawanprash was prepared with 51 herbs, when in reality it used 47. It also objected to the “ordinary chyawanprash with 40 herbs” line, contending this was a direct swipe at Dabur’s flagship formulation.

The company further accused Patanjali of suggesting that other manufacturers lacked the Ayurvedic knowledge or Vedic traditions required to make authentic chyawanprash, creating a perception that only Patanjali’s variant was genuine.

While the bench dismissed Dabur’s contention that consumers would abandon its product because of Patanjali’s puffery, it ruled that factual inaccuracies about ingredients must be corrected.

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Myntra Steps Into B2B: Opens 40 Lakh SKUs and 10,000 Brands for Businesses With GST Benefits Ahead of Festive Season

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Fashion and lifestyle e-commerce major Myntra has launched a new business-to-business (B2B) vertical on its platform, enabling registered enterprises to directly procure fashion, beauty, and lifestyle products. The move, announced on Monday, is aimed at bridging gaps in traditional wholesale supply chains and comes weeks before India’s festive shopping season begins.

The B2B offering provides companies with access to over 10,000 brands and more than 40 lakh stock keeping units (SKUs) available on Myntra. The platform will issue GST-compliant invoices and ensure quality verification, allowing registered buyers to claim input tax credits. Businesses can now place both bulk and small-volume orders, with the flexibility to purchase even a single unit if required.

By reducing multiple supply chain layers, Myntra aims to make procurement more transparent, cost-effective, and reliable. This is expected to benefit retailers, boutique owners, and service providers who previously relied on fragmented offline distribution networks.

“The initiative strengthens the ecosystem by solving two critical challenges—credibility and transparency for our brand partners, and supply reliability for business shoppers,” said Bharath Kumar BS, Senior Director, Revenue and Growth at Myntra. “This will empower our B2B buyers to serve their customers better, particularly during the high-demand festive period.”

The rollout is being executed in two phases. The first phase, already active, includes GSTIN validation at checkout for eligible buyers. The second phase, expected in the coming months, will introduce bulk-order handling, brand-level order requests, and a dedicated supply chain support system designed for business customers.

With the launch, Myntra is positioning itself as more than just a consumer marketplace, extending its platform to serve as a procurement partner for India’s growing retail and services sector.

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Molson Coors Names Rahul Goyal as CEO Effective Oct 1; Veteran Executive Takes Charge Amid Beer Demand Slump and 50% U.S. Tariff Pressure on Aluminum

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Molson Coors Beverage Company on Monday announced the appointment of Rahul Goyal as its next chief executive officer, effective October 1, as the global brewer faces declining beer consumption and rising input costs in its largest market, the United States. Goyal, who currently serves as chief strategy officer, will succeed Gavin Hattersley, the outgoing CEO who is set to retire at the end of the year after six years at the helm.

A veteran of more than two decades with Molson Coors, Goyal has worked across geographies and functions, including a stint as finance chief for the company’s India operations. His elevation marks a continuation of the company’s recent focus on developing non-beer categories, including flavored alcoholic beverages and energy drinks, as U.S. beer volumes shrink. According to industry estimates, alcohol consumption among American adults fell to its lowest level on record in 2024, with traditional beer brands taking the sharpest hit.

Molson Coors itself warned in August of lower annual profit, citing tariff-related headwinds on aluminum imports. The U.S. government’s decision to impose a 50% duty on foreign aluminum has pushed up Midwest premium prices, inflating packaging costs for beverage makers. With nearly all of its portfolio reliant on cans, the brewer expects margin pressure through the rest of FY25.

Analysts say Goyal’s long association with the company and his role in shaping Molson Coors’ diversification strategy position him to manage the turbulence. “Few executives know Molson Coors better than Rahul Goyal,” said Zak Stambor, analyst at eMarketer. “But with younger consumers increasingly rejecting beer and alcohol altogether, the challenge is steep.”

Hattersley will continue to serve in an advisory capacity until the end of 2025 to ensure a smooth leadership transition, the company said. Shares of Molson Coors were down about 1% in early trading on Monday following the announcement.

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V2 Retail Crosses 250-Store Landmark with Six New Openings Across West Bengal, MP, Punjab, Jharkhand, UP and Bihar; Q1 FY26 Revenue Surges 52% to ₹632 Crore

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Value fashion and lifestyle chain V2 Retail has crossed a major milestone, expanding its store network to 250 outlets across India with the inauguration of six new outlets on Monday. The expansion comes just weeks before the festive shopping season, a critical period for retailers, and reflects the company’s sharpened focus on Tier II and Tier III cities.

The newly launched stores are spread across six states: Kanchrapara in West Bengal’s North 24 Parganas district, Ujjain in Madhya Pradesh, Zirakpur in Punjab, Godda in Jharkhand, Muzaffarnagar in Uttar Pradesh and Bangla Sahib in Bihar. The Kanchrapara outlet, in particular, has been timed to coincide with Durga Puja celebrations, a peak demand season in eastern India.

Chairman and Managing Director Ram Chandra Agarwal, who began his retail journey with a small outlet in Kolkata’s Lalbazar market, called the 250-store landmark “a proud achievement” for the homegrown chain. “Reaching 250 stores is a significant step for us. Opening six stores on the same day makes it even more memorable. Our focus continues to be on emerging India, where aspirational shoppers are driving demand for affordable fashion and lifestyle products,” he said.

The expansion comes on the back of strong quarterly results. V2 Retail reported consolidated revenue of ₹632 crore in the April–June quarter of FY26, marking a 52 percent year-on-year jump, driven largely by higher footfalls and improved consumer spending in smaller towns.

Industry analysts note that value-focused retailers are well positioned to capture the next leg of consumption growth in India, particularly as discretionary spending in smaller cities is outpacing metros. For V2 Retail, the festive season push is expected to further strengthen topline growth while reinforcing its stronghold in high-potential regional markets.

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Millet Snacks Go Mainstream: ITC, PepsiCo’s Kurkure, and Wholsum Foods Lead India’s Rs 5,000 Cr Better-for-You Snacking Revolution

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India’s snack aisles are witnessing a quiet revolution as millets transition from niche health foods to mainstream munchies. FMCG giants, multinational corporations, and startups alike are experimenting with nutrient-rich twists on familiar snacks, offering consumers options that are both tasty and wholesome. Products such as ragi crisps, foxtail-millet nachos, and choco-millet bars are becoming increasingly common, reflecting the growing appetite for better-for-you alternatives.

PepsiCo India’s homegrown Kurkure brand has joined the millet bandwagon, marking its 25th anniversary with the launch of Kurkure Jowar Puffs. Saakshi Verma Menon, chief marketing officer for foods at PepsiCo India, said the move combines the traditional appeal of jowar with the signature chatpata taste, aligning with changing consumer preferences while driving innovation in the snacking segment.

Two years ago, millet-based offerings were largely confined to health aisles in modern retail stores. That has changed as value growth returned to FMCG in 2024–25, with rural markets outpacing urban consumption. Consumers are increasingly willing to explore healthier options, integrating millet into everyday snacking and quick-service restaurant menus.

ITC has expanded its Mission Millets portfolio to include atta, cookies, noodles, and snacks, reinforcing its broader ‘Help India Eat Better’ strategy. Executive director Hemant Malik noted that digital and quick commerce platforms are helping accelerate consumption by making millet products more accessible to urban and rural consumers alike.

Startups like Wholsum Foods, which operates Slurrp Farm and Mille, are also riding the trend. Co-founder Meghana Narayan said demand is largely driven by digital-first shoppers seeking nutritious alternatives, and the company continues to broaden its “better-for-you” offerings while keeping millets at the core.

Analysts say the growing adoption of millet-based snacks reflects a broader evolution in India’s food culture. Traditional grains, once relegated to niche segments, are now fueling innovation across mainstream packaged foods, catering to health-conscious, convenience-oriented consumers across cities and small towns alike.

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Reliance Retail Strengthens Premium Food Offerings, Introduces Curated South African Range Amid $1.3 Billion Indian Gourmet Market Growth

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Reliance Retail has struck a new partnership with Wesgro, the official trade and investment promotion agency for South Africa’s Western Cape, to introduce premium South African food and beverage products to India. The launch took place in Mumbai, where Reliance rolled out the initiative across its Freshpik and Go Fresh outlets, reinforcing its ambition to position these formats as destinations for global gourmet products.

The inauguration was marked by the presence of South African cricketing star Herschelle Gibbs and Gidian Labane, Consul General of South Africa in Mumbai, underscoring the growing cultural and trade links between the two countries. Damodar Mall, Chief Executive of Reliance Retail’s grocery division, said the collaboration was designed to strengthen Reliance’s international sourcing strategy and widen access to authentic global tastes for Indian consumers.

The Western Cape region, often described as South Africa’s food and wine capital, is known for its premium agricultural exports. The curated selection now available in India spans packaged foods, beverages, and gourmet staples that are increasingly sought after by a rising segment of urban shoppers.

India’s appetite for international food products has been expanding rapidly. According to industry estimates, the gourmet food market in India is valued at over USD 1.3 billion and is growing at a compound annual rate of around 20 percent. Reliance Retail, which operates more than 19,000 stores across the country, has been steadily expanding its premium formats to capture this demand.

For Wesgro, the partnership opens a significant retail channel in one of the world’s fastest-growing consumer markets. For Reliance, it is another step in building a differentiated portfolio that blends domestic staples with global premium brands.

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Kurnool to Get Reliance’s First Food Park with ₹768 Crore Investment; Project to Produce 1.2 Million Tonnes of Atta, 36,500 Tonnes of Rice, and 32,900 Tonnes of Chocolates

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Reliance Consumer Products Ltd (RCPL), the fast-moving consumer goods arm of Reliance Industries, is preparing to establish its first food park in Andhra Pradesh with an initial investment of ₹768 crore. The facility will be located in Brahmanapalli village of Orvakal, Kurnool district, and forms part of RCPL’s larger plan to invest ₹40,000 crore in integrated food parks across India over the next three years.

According to officials familiar with the project, the Andhra Pradesh State Investment Promotion Committee has cleared the allotment of 120 acres for the food park. The site lies within three hours of Hyderabad and five hours of Bengaluru by road, offering strategic access to two major consumption hubs. In addition, RCPL has been allotted another 80 acres nearby for a proposed beverages manufacturing unit. The state cabinet is expected to give its final nod within two weeks.

The Kurnool project will be developed in phases. The first phase will include facilities to produce around 23,000 tonnes of spices, 14,400 tonnes of noodles and pasta, and 3,800 tonnes of snacks annually. The second phase will focus on larger categories such as rice with a proposed annual output of 36,500 tonnes, atta at 1.2 million tonnes, and 32,900 tonnes of chocolates and confectionery. Together, the two phases are expected to generate at least 500 direct jobs in the region.

Reliance has also signed an MoU with the Maharashtra government to build a food and beverage hub in Nagpur, though Andhra Pradesh is moving ahead as the company’s first operational food park. At Reliance’s annual general meeting last month, Isha Ambani, executive director of Reliance Retail Ventures, outlined the group’s ambition of scaling RCPL into a ₹1 lakh crore consumer goods powerhouse within five years.

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Colombian Supremo Decaf Arrives in India as CoffeeTotaler Bets on Swiss Water® Revolution

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CoffeeTotaler, India’s first decaf-only coffee company, has unveiled its latest offering, Colombian Supremo Decaf Coffee Beans, processed through the globally acclaimed Swiss Water® method. The launch marks a significant moment for Indian consumers, who have traditionally had limited access to high-quality decaffeinated coffee.

The beans are sourced from Colombia’s top coffee estates and graded Supremo, the country’s highest quality classification. With a large 17/18 screen size, the beans are roasted to a medium-dark finish in CoffeeTotaler’s facility. The resulting brew balances sweetness and depth, with tasting notes ranging from almond and milk chocolate to apple, citrus, blackberry, and a delicate touch of black tea.

What differentiates this product is the Swiss Water® Process, a chemical-free decaffeination technique that uses only water, temperature, and time to remove caffeine. While most decaf options in India still rely on solvent-based methods, CoffeeTotaler’s approach preserves the natural flavor and body of the beans without additives.

“People often dismiss decaf as a weaker version of coffee. That perception needs to change,” said Vikas Aggarwal, founder of CoffeeTotaler. “From expecting mothers to those managing hypertension or anyone avoiding late-night caffeine, more people are looking for healthier choices. Our goal is to make decaf mainstream by offering a safe, flavorful cup that can be enjoyed any time of the day.”

The company points to India’s growing coffee market and health-conscious urban consumers as drivers for the launch. With an estimated 200 million Indians living with high blood pressure, CoffeeTotaler sees strong potential for its chemical-free products.

About CoffeeTotaler: CoffeeTotaler is India’s first decaf-exclusive coffee brand and the official importer of Swiss Water® Process beans from Canada. Every batch is roasted in small lots to ensure peak freshness, offering coffee lovers a rich, balanced cup without the side effects of caffeine.

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How to Get a GST Number for Your Home Business in India: Step-by-Step Guide

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Running a home business in India—whether it’s selling homemade pickles, running a boutique, offering online coaching, or baking cakes—has never been more popular. But as sales grow, one question keeps coming up: Do I need a GST number for my home business, and how do I get it?

The answer depends on the nature of your business and turnover. Let’s break it down.

Do You Really Need a GST Number for a Home Business?

GST (Goods and Services Tax) applies to any business supplying goods or services in India. However, the law provides some exemptions:

  • Threshold Limit: If your annual turnover is below ₹40 lakh for goods or ₹20 lakh for services (₹10 lakh in some states), you don’t need to register for GST.
  • Mandatory Registration: Regardless of turnover, if you sell online through platforms like Amazon, Flipkart, or Zomato, or if you supply interstate, you must get a GST number.
  • Voluntary Registration: Even if you’re exempt, you can register to look more professional, claim input tax credits, and expand your reach.

So, while your small home boutique or food business may not always be required to have GST, registering can give your brand credibility and growth opportunities.

Step-by-Step Process to Get a GST Number for Your Home Business

  1. Visit the GST Portal
    Go to the official GST website: www.gst.gov.in.
  2. Click on ‘New Registration’
    Select Taxpayer as the option and fill in details like your name, mobile number, and email.
  3. Fill Part A of the Form
    Enter details such as your PAN (Permanent Account Number), business name, and state. You’ll get a Temporary Reference Number (TRN) on your phone/email.
  4. Complete Part B
    Log in with your TRN and upload documents like:
    • PAN card
    • Aadhaar card
    • Proof of business address (rent agreement, utility bill, or property papers)
    • Bank account details (cancelled cheque/passbook)
    • Passport-size photo
  5. Verification via OTP
    You’ll be asked to verify using Aadhaar-based OTP authentication.
  6. Application Processing
    The GST officer reviews your documents. If everything checks out, you’ll receive your GSTIN (GST Identification Number) within 7 working days.

Why Home Businesses Should Consider GST Registration

Even if you fall below the exemption limit, a GST number can:

  • Help you sell on e-commerce platforms like Amazon, Flipkart, and Meesho.
  • Allow you to claim input tax credits on raw materials or packaging.
  • Build trust with customers and suppliers.
  • Make it easier to scale from a small home setup to a full-fledged business.

Final Word

Getting a GST number for your home business may sound like red tape, but the process is now fully online and hassle-free. If you’re serious about scaling up—whether through online marketplaces, interstate trade, or simply gaining credibility—GST registration is not just a legal necessity, but also a smart business move.

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