Radisson Blu Pune Hinjawadi is excited to introduce the unveiling of 5 I V E – The Sky Bar, a new and vibrant addition to the local dining and social landscape. Situated at the core of Radisson Blu Pune Hinjawadi, this rooftop venue provides a delightful panoramic view of the city skyline, accompanied by an impressive menu to captivate your taste buds.
“We are thrilled to introduce 5 I V E – The Sky Bar to Pune’s social landscape. This rooftop haven is not just about the drinks and food; it’s an experience designed to mesmerise our guests with its stunning views and vibrant atmosphere,” said Amit Raman – Hotel Manager at Radisson Blu Pune Hinjawadi. “We have curated a menu that combines innovative cocktails, fine spirits, and delectable appetizers, ensuring a perfect harmony of flavors to complement the scenic beauty surrounding our guests.”
5 I V E – The Sky Bar’s menu features a curated assortment of handcrafted cocktails, premium spirits, and a variety of delectable appetizers. Expertly crafted by the culinary artisans at Radisson Blu Pune Hinjawadi, each dish promises a harmonious blend of flavors that delight the palate and complement the diverse drink selections on offer.
Wardwizard Foods and Beverages Limited is excited to present its newest offering, WOL Energy Drink, as a significant enhancement to its product lineup. This cutting-edge product is strategically associated with the prestigious Tennis Premier League, Season 5, and is poised to create a significant impact in the retail market, especially in the regions of Gujarat and Maharashtra.
As the flagship product of Wardwizard Foods and Beverages Limited, WOL Energy Drink is designed to meet the preferences of the dynamic audience, including trendsetting young adults and the aspirational youth demographic. Boasting a combination of exceptional taste, unparalleled quality, and irresistible allure, it seamlessly connects with sports enthusiasts participating in the Tennis Premier League.
This partnership highlights the brand’s dedication to active involvement on a platform that resonates with its target audience. The product’s introduction in Vadodara, Gujarat, signifies the commencement of an ambitious expansion strategy, with a deliberate emphasis on Gujarat and Maharashtra in the initial stage.
Sheetal Bhalerao, Chairperson and Managing Director of Wardwizard Foods and Beverages Ltd., said, “We’re overwhelmed to introduce WOL Energy Drink as our latest offering under Wardwizard Foods and Beverages Limited. This partnership with the Tennis Premier League is a testament to our dedication to delivering premium products that resonate with our target audience. Our collaboration with the Tennis Premier League serves as a significant milestone in our roadmap. Beyond this partnership, our vision for WOL Energy Drink extends into a future where we’re committed to pioneering innovations and expanding our market presence across regions. We envision WOL Energy Drink not just as an energy-boosting beverage but as a lifestyle companion for our consumers, symbolizing vitality and a zestful living”.
The collaboration between WOL Energy Drink and the Tennis Premier League not only represents a promising partnership but also presents an exhilarating opportunity for Wardwizard Foods and Beverages Limited to captivate and establish connections with the audience, leveraging the league’s passionate sporting atmosphere.
In a distillery close to New Delhi, oak casks previously employed for bourbon and wine storage are accumulating, brimming with maturing whisky. The diligent workers are producing nearly 10,000 bottles daily of Indri, an Indian single malt recently acclaimed as the world’s finest whisky.
The distillery is surrounded by sugarcane and mustard fields instead of peat bogs. Piccadily, the owner of the two-year-old Indian brand, is increasing production and constructing a three-hole golf course to attract both whisky enthusiasts and casual drinkers in the whisky-loving nation.
As India emerges as a producer, not just a consumer, of whisky, its single malts are transforming the nation’s $33 billion spirits market.
Well-established international labels like Glenlivet from France’s Pernod Ricard and Talisker from Britain’s Diageo compete for retail prominence alongside local counterparts such as Indri, Amrut, and Radico Khaitan’s Rampur.
In contrast to numerous Asian nations where beer holds sway in alcohol sales, India stands out as predominantly a whisky-drinking nation. According to industry executives and analysts, the Indian whisky landscape has experienced significant shifts due to global awards, rising affluence, and a surge in drinkers exploring new brands during the COVID-19 lockdown.
For years, Aditya Prakash Rao preferred foreign brands, but now he is progressively choosing Indian malts, both for personal consumption and as gifts during festive seasons.
Indian whisky gives Rao a sense of national pride – and goes well with Indian food – the lawyer said. “Nothing beats Indian malts in pairing with our kind of food, which is spicy. I love it.”
Indri’s Diwali Collector’s Edition, priced at $421, clinched the “Best in Show” title at the Whiskies of the World Awards blind tasting in San Francisco in August, surpassing competitors from Scotland and the United States.
Acknowledging the surge in the Indian whisky trend, global brands that traditionally emphasized single malts aged in Scotland are now turning their attention to Indian whiskies to capitalize on the growth in one of the world’s largest whisky markets.
With Bollywood stars and Indian music, Pernod on Wednesday uncorked its first made-in-India single malt, the $48 Longitude 77, with plans to expand sales to Dubai and then the rest of the world.
“We are extremely bullish about this category. It has seen unprecedented growth,” said Kartik Mohindra, Pernod India’s chief marketing officer.
Last year, Diageo, Pernod’s major competitor, introduced its initial Indian single malt, Godawan, named after a sizable and endangered Indian bird. This product is available in five international markets, including the United States.
“We seem to be moving from whisky in India to Indian whisky – within India and globally,” said Vikram Damodaran, Diageo’s India chief innovation officer.
According to Euromonitor data, Pernod’s Glenlivet, traditionally the leading single malt in India, experienced a 39% volume growth last year. However, it was surpassed by Amrut, which saw a remarkable 183% surge.
According to data from IWSR Drinks Market Analysis, Indian single malts witnessed a remarkable 144% surge in 2021-22, outpacing the 32% growth observed in Scotch. The forecast for the period until 2027 anticipates a yearly consumption growth of 13% for Indian malts, surpassing Scotch, which is projected to grow at 8% annually.
Piccadily Distilleries, the producer of Indri, aims to increase its capacity by 66% to 20,000 liters (5,300 gallons) per day by 2025, extending its reach beyond the 18 foreign markets that currently constitute 30% of its sales, according to founder Siddhartha Sharma.
The intention is to increase the count of casks to 100,000 at the expansive distillery located in a farming region 160 km (100 miles) north of India’s capital.
The indigenous brands come with a substantial price tag: Indri begins at $37 per bottle, Amrut at $42, and Rampur at $66 in stores near New Delhi. In contrast, Pernod’s Glenlivet is priced between $40 and $118, varying with age.
During the debut of Longitude 77, Pernod treated CEOs, diplomats, celebrity chefs, and other specially invited guests to the new single malt, as well as cocktails crafted with it, incorporating regional ingredients such as Kashmiri saffron and Alphonso mangoes.
Sanjeev Banga, President of International Business at Radico, stated that the company anticipates doubling Rampur sales annually. While foreign sales currently contribute 75% to its business, Radico aims to concentrate on expanding the domestic market.
The biggest endorsement of the category, he said, “is that you have both Diageo and Pernod coming up with an Indian single malt.”
“Otherwise, they were only talking about their mainstream foreign brands,” Banga said. “They realise this is a category of the future.”
On Sunday, the country’s prominent restaurant association expressed displeasure, labeling Swiggy‘s decision to impose a 2% collection fee on all orders from December 20 as an “unfavorable distraction.”
The National Restaurants Association of India (NRAI), representing over 500,000 companies nationwide, also mentioned that restaurants would be seeking clarification from the food delivery platform in the days to come.
“December is supposed to be the best month of business for us; for Swiggy to unilaterally come up with this suddenly in peak season is definitely an unwelcome distraction,” said Sagar Daryani, vice president of NRAI.
Daryani, the founder and chief executive of Wow! Momo chain of restaurants, claimed that Swiggy’s action is “merely a means of indirectly escalating commission expenses.”
As of the press time, Swiggy had not responded to an email requesting comments.
In an email addressed to restaurant partners, the platform conveyed its decision to implement a standardized 2% collection fee on all orders, starting from December 20.
“This fee is for facilitating seamless customer payments on the Swiggy platform. Please note that this amount will be deducted from your payouts,” it read.
According to an insider from Swiggy, such a fee is considered a “common industry-wide practice” aimed at streamlining customer payments on the platform. The insider further mentioned that restaurants without an existing collection fee are now subject to this charge.
Zomato, a competitor of Swiggy, already imposes a payment gateway fee.
The news comes ahead of the significant event of New Year’s Eve. Last year, Swiggy and Zomato reported delivering a record 500,000-plus orders on New Year’s Eve.
Restaurants have often accused aggregators of imposing high commissions. This has led many establishments to consider direct deliveries to consumers. However, restaurants face challenges in matching the scale and reach facilitated by aggregators.
“Costs of delivery are already higher than dine-ins, with commissions charged by aggregators at 25-30%,” said Riyaaz Amlani, managing director of Impressario Entertainment & Hospitality, which owns Social and Smoke House Deli restaurants. “Increasing this further directly hurts profitability,” he added.
Experts suggested that aggregators could leverage data to enhance unit economics instead.
“Smart menu engineering and catalogue optimisation will help to increase ticket sizes and that will improve unit economics for aggregators and restaurants,” said Karan Tanna, chief executive of food tech platform Ghost Kitchens. “This is the most appropriate and sustainable way to improve economies and optimise data, which is currently completely underutilised.”
He mentioned that aggregators providing insights on optimizing menu engineering and refining pricing for specific items, combos, and add-ons could contribute to enhancing unit economics.
Consumption of tur or arhar dal has experienced a year-on-year decrease of 15-20% in 2023, according to industry executives. This decline is linked to a notable increase in retail prices, soaring from INR 130-140 per kg last year to the current INR 200 per kg.
Experts noted a shift in consumer behavior, with households in southern and eastern India replacing tur dal with imported green lentils, while in the northern and western regions, institutional consumption saw a substitution of tur dal with other lentil varieties. Additionally, experts observed a rise in the consumption of chana dal, promoted by the central government as a healthy alternative to tur dal, particularly in vegetarian meals.
While chana dal holds the title of being the most extensively produced and consumed dal in the country, tur dal finds broader usage, particularly in combination with rice and in various South Indian dishes such as sambar and rasam.
“There was a demand destruction of 15-20% in tur dal in 2023 in both the household consumer segment and the segment of institutional consumption, including hotels and restaurants,” Ankush Jain, business head-pulses at Olam Agri India, said in a webinar organised by the Indian Pulses and Grains Association. “The consumption of tur dal was substituted with lentils, green lentils and chana dal, especially the government’s Bharat Dal brand of chana dal.”
A Mumbai-based pulses importer, Satich Upadhyay, said, “The overall consumption of tur dal has declined since the prices in the retail market touched INR 200 per kg. In south India, green lentil was substituted for tur dal in the government tenders as lentils have taste similar to tur dal.”
The yearly demand for tur dal in India ranges from 4.2 to 4.5 million tonnes, whereas the estimated local production falls between 2.8 and 3.4 million tonnes. To address the shortfall, the country relies on imports and substitutes such as lentils.
In 2022, the country witnessed a surge in tur dal imports, rising to approximately 965,000 tonnes from 516,000 tonnes in 2020. Projections indicate that this year’s tur dal imports are anticipated to hover around 900,000 tonnes.
The current cost of whole unprocessed lentils in the wholesale market is 40% lower than the price of whole unprocessed tur.
India’s annual average demand for lentils stands at 2.4 million tonnes. However, in the fiscal year 2022-23, the country’s production amounted to 1.6 million tonnes.
Sugar stocks experienced an 8 percent surge in early trading on December 18, following a recent order from the food ministry that lifted the ban on using sugarcane juice to produce ethanol.
The ministry has granted approval for the use of both sugarcane juice and B-heavy molasses in the production of green fuel for the supply year 2023–24.
At 9:17, Balrampur Chini Mills and Shree Renuka Sugars witnessed an increase of approximately 7.5 percent, while Dalmia Bharat Sugar showed a gain of 6.5 percent. Triveni Engineering and E I D-Parry (India) also experienced rises of around 5 percent each.
On December 5, the ministry issued a directive to all sugar mills and distilleries, stating that oil marketing companies (OMCs) would provide a revised allocation of ethanol derived from sugarcane juice and B-heavy molasses for the 2023–24 supply year to each distillery.
From December 6 to the market close on December 16, Balrampur Chini Mills saw a decline of 17.5 percent in its shares, Dalmia Bharat Sugar experienced a loss of 11.13 percent, Shree Renuka Sugars decreased by 7.6 percent, and Triveni Engineering recorded a drop of 12.2 percent.
The government’s decision to restrict ethanol production from sugarcane follows a period of irregular monsoon in India, causing damage to sugarcane crops. This led the world’s second-largest sugar producer to extend export restrictions beyond October 31.
Last month, the Indian Sugar Mills Association (ISMA), a trade organization representing sugar producers, projected an 8 percent decline in the country’s sugar production to 33.7 million tonnes (excluding diversion towards ethanol) in the marketing year 2023-24. This outlook was attributed to reduced rainfall in crucial sugar-producing states, which could adversely impact yields.
“The diversion into ethanol has been quite meaningful over the past quarters and margin accretive for sugar companies. The government’s ethanol clampdown may increase sugar production solely but the core output has not been as lucrative as ethanol diversion. Most of the consistent run-up seen across sugar stocks was on the back of the money made through ethanol diversification,” said Nirav Karkera, head of research, Fisdom.
The Uttar Pradesh government has directed the Lucknow district administration to ensure that hotels do not take any advance booking during the key dates in January.
This has been done to avoid overpricing in hotel tariffs ahead of the consecration ceremony at Ayodhya’s Ram temple on January 22, according to Chief Minister Yogi Adityanath‘s principal secretary, Sanjay Prasad.
The principal secretary has directed that no advance booking should be made in hotels on January 20, 21, 22, and 23.
“The programme is quite grand, and a large number of people/dignitaries/guests are expected to arrive in the district. We must ensure that everyone takes back happy memories of good hospitality. Thus, advance booking and resultant overpricing of the hotel rooms should be avoided at all costs, especially on January 20, 21, 22, and 23,” Prasad said.
He further said that starting January 22, special care should be taken to ensure that the tourists have a wholesome experience while visiting the Ram Temple in Ayodhya. He said the administration and police should ensure that hotel staff are properly trained to ensure a courteous welcome for the guests.
Besides, a thorough verification of all newly appointed personnel working in the hotel must be done to avoid any inconvenience to the guests, he added.
Lucknow district magistrate Surya Pal Gangwar has directed the hotels to ensure no advance booking is done and the ones that have been done by the agents to rake in profits, should be cancelled.
“A mandatory meeting/training of hotel staff and taxi drivers should be organised to train them to behave politely with the visiting guests,” he directed.
Meanwhile, the decision on cancellation of bookings has already created momentary confusion. While hoteliers assumed they had to cancel all the bookings already made, the administration clarified that only those bookings where agents have blocked the rooms to rake in profit later need to be verified and cancelled accordingly.
“Only those bookings where agents have booked a set of rooms in advance and plan to sell them for higher prices later need to be verified and cancelled accordingly,” the district magistrate said.
Mensa Brands, a direct-to-consumer (D2C) company, recorded a loss of INR 329 crore in the fiscal year 2023, marking a 2.4-fold surge compared to the previous fiscal year. This increase can be attributed to escalating expenses.
Mensa Brands experienced a 55% increase in operating cash flow, reaching INR 249.4 crore during the fiscal year 2023, as reported by Entrackr. The information is sourced from the financial statements of the company’s group entity in Singapore.
In the fiscal year ending March 2023, Mensa Brands saw a significant rise in operating revenue, reaching INR 1,317 crore. This marks a substantial increase from the INR 339.2 crore recorded in the previous fiscal year (FY22).
“The sale of products from its portfolio firms formed 98.5% of its revenue which stood at INR 1,297 crore while INR 17.7 crore came from sale of services,” the report mentioned. During the fiscal year 2023, Mensa Brands reported an EBITDA of INR 19.35 crore. The company, founded by Ananth Narayanan, former CEO of Myntra and Medlife, enjoys support from prominent global investors, including Accel Partners, Falcon Edge Capital, Norwest Venture Partners, Prosus, and Tiger Global Management.
Within the initial 12 months of operations, it achieved a net revenue run rate of INR 1,500 crore.
In September, Mensa Brands acquired the health-food startup MyFitness for an undisclosed amount, with the goal of developing it into a INR 1,000 crore brand within the next three to four years.
Motisons Jewellers, a retail jewellery company based in Jaipur, announced that it secured slightly over INR 36 crore from anchor investors just days ahead of its inaugural public offering. As per information available on the BSE website, the company has allocated 66 lakh equity shares to two funds at INR 55 each, which represents the higher end of the price band.
Meru Investment Fund PCC-Cell 1 acquired 4.6 million equity shares, totaling INR 253 million, while Zinnia Global Fund PCC-Cell Dewcap Fund bought 2 million shares worth INR 110 million.
Collectively, their purchases amounted to INR 36.3 crore, as indicated by the data.
The maiden public issue comprises solely a fresh issue of 2.74 crore equity shares with no Offer For Sale (OFS) component.
The Initial Public Offering (IPO) with a price band of INR 52-55 is scheduled to open on December 18 and close on December 20.
At the higher limit of the price band, the IPO is expected to generate INR 151 crore.
The funds raised from the offering will be allocated towards repaying debts, meeting the company’s working capital needs, and, in part, for general corporate purposes.
Holani Consultants serves as the book-running lead manager for the offering. The equity shares are intended to be listed on both the BSE and the NSE.
Farmley Co-founders Akash Sharma and Abhishek Agarwal
Farmley, a healthy snacking brand, has raised $6.7 million in a pre-Series B round led by BC Jindal Group, with participation from existing investors DSG Consumer Partners, Omnivore, and Alkemi Partners.
In August last year, Farmley secured $6 million in a Series A round led by DSG and Alkemi. Furthermore, in 2020, the company had previously raised $2 million in a seed round with support from Omnivore and Insitor.
According to a press release, the latest funding round will enable Farmley to expand its footprint in offline retail channels and enhance its brand-building initiatives. The company has recently enlisted former Indian cricketer Rahul Dravid as its brand ambassador.
Established in 2017 by Akash Sharma and Abhishek Agrawal, Farmley has established backend connections with both domestic and international farming communities to procure nuts and dry fruits.
Providing a diverse range of over 100 products, Farmley is accessible through various e-commerce and quick commerce platforms such as Amazon, Flipkart, Blinkit, Zepto, Instamart, and BigBasket. The brand is also distributed through an extensive network, reaching over 10,000 retail outlets in the top 50 cities across India.
The company asserts that it has achieved a revenue of approximately INR 150 crore in the fiscal year 2023 and surpassed the INR 300 crore Annual Recurring Revenue (ARR) milestone, marking a growth of over 400% in the past two years. Additionally, the company reports having achieved a positive Earnings Before Interest, Taxes, Depreciation, and Amortization (EBITDA).
In addition to its operations in India, Farmley has established a footprint in the United States, the Middle East, and Australia.
It competes with Happilo and True Elements, both of which have received backing from major entities. Happilo secured $25 million from Motilal Oswal PE (MOPE) last year, while Marico acquired a 53.98% stake in True Elements.
We use cookies to ensure that we give you the best experience on our website. If you continue to use this site we will assume that you are happy with it.
