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New Delhi, Jul 15 () The RP-Sanjiv Goenka Group on Wednesday said it has acquired a majority stake in video-based news app Editorji Technologies Pvt Ltd, a move that marks its foray into the digital news media space. RP-Sanjiv Goenka (RPSG) Group has acquired 51 per cent stake through a combination of primary and secondary transaction in Editorji Technologies, started by former chief executive officer of NDTV Ltd Vikram Chandra, said a statement. However, the group did not disclose the financial details of the transaction. "I am delighted with the transaction as this investment marks our foray into digital news media space. I believe Editorji is a promising platform to build significant digital media business," RPSG Group chairman Sanjiv Goenka said. The USD 6 billion RP-Sanjiv Goenka Group, sees India as an untapped media market. Earlier this month, the RPSG Group had bagged the publishing rights for the global business magazine Fortune for the Indian market. "Massive changes are taking place across the world in the digital domain - where there is a need for personalised, credible and factual news and information. "As part of the RPSG Group, and with strong existing investors like Airtel and HT, Editorji is well-positioned to take advantage of the ongoing digital revolution," Editorji's Managing Director, Vikram Chandra said. Launched in 2018 , Editorji is a digital news player, primarily in current affairs news content. It delivers news in two languages – English and Hindi and across three formats of video, audio and text formats. One of the key features of the Editorji platform is its ability to generate personalised AI-driven news and information playlists. RPSG's businesses include power and energy, carbon black manufacturing, retail, IT-enabled services, FMCG, media and entertainment, and agriculture. KRH DRR DRR

RP-Sanjiv Goenka Group acquires 51 pc stake in video news app Editorji

<ul><li>The Sanjiv Goenka-led RPSG group has bagged the Lucknow franchise of the IPL.</li><li>Goenka is happy about the purchase and confident that the investment will be profitable.</li><li>Here’s everything you need to know about the Kolkata-based business tycoon.</li></ul>The Sanjiv Goenka-led RP-Sanjiv Goenka Group (RPSG) has bagged the new Lucknow franchise in the cash-rich Indian Premier League (IPL) for a whopping ₹7,090 crore – close to a billion dollars – marking a return for the company to the world's biggest T20 league. The RPSG group was founded by <keyword id="6355523" type="General" weightage="20" keywordseo="sanjiv-goenka" source="Orion">Sanjiv Goenka</keyword> in 2011, after RPG Enterprises, founded by his father Rama Prasad Goenka, was divided between Sanjiv and Harsh Goenka. The RPSG group is a Kolkata-based conglomerate and its major businesses include CESC, a power generation and distribution company, the 120-year-old music company Saregama and the recently launched snacks brand Too Yumm! The company also operates Spencer’s retail chain, Nature’s Basket, Woodlands Hospital, Harrisons Malayalam and several other companies, making it a total of 22 companies. According to <a href="https://www.forbes.com/profile/sanjiv-goenka/?sh=541d14966301">Forbes</a>, Sanjiv Goenka has a net worth of $2.7B (approx. ₹20,250 crore). The RPSG group reported a revenue of ₹26,634 crore as on March 31, 2021 and has assets worth over ₹47,000 crore. <cmsannotation type="cmsannotation" annotationid="Goenka’s love for sports" comment="subhead" text="Goenka’s love for sports">Goenka’s love for sports</cmsannotation> For Sanjiv Goenka, winning the bid for Lucknow may not be just an investment. Goenka’s love for sports is evident from his other ventures as well. <div type="image" title="E5E3B7AD-FE67-4B15-87BE-3FE36E975B49" msid="87277605" hostid="261" caption="&amp;lt;p&amp;gt;Sanjiv Goenka with Robbie Keane.&amp;lt;/p&amp;gt;"></div> Sanjiv Goenka holds a stake in the ATK Mohun Bagan football club, which is a part of the Indian Super League (ISL). Sourav Ganguly, the president of the Board of Control for Cricket in India (BCCI) is also a co-owner of the ATK Mohun Bagan. The group is also involved in table tennis and owns the RPSG Mavericks Kolkata, which is part of India’s biggest table tennis league, the Ultimate Table Tennis League. <cmsannotation type="cmsannotation" annotationid="Sanjiv Goenka’s second stint in IPL" comment="subhead" text="Sanjiv Goenka’s second stint in IPL">Sanjiv Goenka’s second stint in IPL</cmsannotation> <div type="image" title="4A1F6760-2CCE-41A2-A1E1-4D8BDC7B4640" msid="87277431" hostid="261" caption="&amp;lt;p&amp;gt;Sanjiv Goenka in Rising Pune Super Giants jersey.&amp;lt;/p&amp;gt;"></div> Sanjiv Goenka’s RPSG is no stranger to the Indian Premier League – it had a two-year stint in the IPL after it bagged the Rising Pune Supergiant franchise for IPL 2016 and 2017, after Chennai Super Kings and Rajasthan Royals were suspended from the tournament for two years. Since 2017, Goenka has been eyeing a return to the IPL. In 2016, the team had an average outing, ending up seventh on the table with just five wins. After this, Goenka took the bold decision of dropping Mahendra Singh Dhoni from captaincy and handed over the reins to Steve Smith. This decision turned out well for the team and the team went on to the finals, losing the title to Mukesh Ambani’s Mumbai Indians by the barest of margins – just 1 run. Goenka has returned to IPL with the acquisition of IPL’s latest franchise, Lucknow. The RPSG group had bid for Lucknow, Ahmedabad and Indore. <cmsannotation type="cmsannotation" annotationid="We’ve done our math, says Goenka" comment="subhead" text="We’ve done our math, says Goenka">We’ve done our math, says Goenka</cmsannotation> Soon after the BCCI announced that the RPSG group had won the bid for the Lucknow franchise, Goenka spoke to Cricbuzz. Here are some of the key takeaways from the <a href="https://www.cricbuzz.com/cricket-news/119559/weve-done-our-math-sanjeev-goenka-after-7090-cr-bid-cricbuzzcom">interview</a>. Speaking about why the group selected Lucknow despite winning the bid for both Ahmedabad and Lucknow, Goenka said, “We have operations in Uttar Pradesh. We do power distribution there. We have a very big presence in the northern state. Closer by in Chandigarh, we have the power distribution rights. So for North India, that becomes like a hinterland.” Goenka also revealed the math behind the decision to bid over ₹7,000 crore for the team. “I will probably be paying only ₹3,500 crore in 10 years. It is because I will be getting ₹3,500 crore from the BCCI from the broadcast rights. In the next five years, I may get more [from the BCCI]. The net present value of that is ₹2,100 crore. That means I have got an IPL team for ₹2,100 crore. Tell me, is it good or not?”. In an <a href="https://www.moneycontrol.com/news/business/expect-lucknow-ipl-team-to-command-rs-10000-crore-valuation-in-5-years-rpsg-groups-sanjiv-goenka-7625691.html">interview</a> to Moneycontrol, Goenka revealed that he expects the franchise to be worth over ₹10,000 crore in five years. SEE ALSO: <a href="https://www.businessinsider.in/thelife/news/meet-girish-mathrubootham-founder-and-ceo-of-freshworks/articleshow/86453777.cms">Girish Mathrubootham, the son of a retired bank officer who built a $13 billion company in just 10 years</a> <a href="https://www.businessinsider.in/thelife/personalities/news/murali-divi-the-billionaire-scientist-behind-divis-labs-is-richer-by-6-billion-and-counting-since-the-pandemic/articleshow/86749881.cms">Murali Divi, the billionaire scientist behind Divi’s Labs, is richer by $6 billion, and counting, since the pandemic</a> <a href="https://www.businessinsider.in/business/startups/news/iron-man-vijay-shekhar-sharma-put-his-own-money-on-the-line-to-launch-paytm/articleshow/84468805.cms">‘Iron Man’ Vijay Shekhar Sharma put his own money on the line to launch Paytm — and ten years later the company is ready to go public</a>

Sanjiv Goenka makes a billion dollar comeback to the world's biggest T20 stage

<ul><li><keyword id="4511745" type="PERSON" weightage="20" keywordseo="too-yumm">Too Yumm</keyword>! that was launched its journey in 2017 roped in cricketer <keyword id="6354486" type="PERSON" weightage="20" keywordseo="virat-kohli">Virat Kohli</keyword> as its face pretty early in its journey.</li><li>Having Kohli as its face, along with various partnerships like <keyword id="6354312" type="COMPANY" weightage="20" keywordseo="IPL">IPL</keyword> and Inside Edge 2 have helped the brand stay visible. </li><li>Too Yumm! has expanded to many international markets and now is on its way to enter the kid’s category.</li></ul> The <keyword id="724092" type="COMPANY" weightage="20" keywordseo="RP-Sanjiv-Goenka-Group">RP-Sanjiv Goenka Group</keyword> (RPSG) ventured into the food and snacking category in 2017 with the launch of its low-calorie snacks brand, Too Yumm. The step was aimed at helping the group further its foray into the FMCG segment, which it considers to be a major growth driver. Since then, the brand has done its bit to make itself heard. It roped in Virat Kohli as a face of the brand, advertised heavily during IPL and recently partnered with Amazon Prime Video for the second season of its popular web series, Inside Edge. It has also recently came out with a high decibel campaign around four of its new flavors. Since its launch, the brand and done enough and more to stay in the public eye. Moreover, within 2 years of its launch, the brand has been able to scale its operations to reach a Rs 200 crore sales run rate in April 2019, becoming the country’s fastest growing healthy snacking brand in India. Following the reception it got in the country, it also spread to international markets including Singapore, Australia, Dubai, Oman, Bangladesh and Nepal. In a recent conversation with <keyword id="5831697" type="PERSON" weightage="20" keywordseo="Anupam-Bokey">Anupam Bokey</keyword>, CMO, RPSG, FMCG (<keyword id="4326807" type="COMPANY" weightage="20" keywordseo="Guiltfree-Industries">Guiltfree Industries</keyword>), we talk about all the brand has done so far in terms of marketing, and how it further plans to establish itself in a market that is still only opening up to the idea of healthy snacking. Edited excerpts: Q) Healthy snacking as an idea is slowly picking pace in India. Have you been able to convince consumers that healthy really means healthy and doesn’t really mean it won’t taste good? For over two years now, we have built our product around its core of healthy snacking. We waited to first successfully establish ourselves as a dominant player in the healthy snacking category before we could shift our focus to taste. By rolling out our recent flavors campaign, we have done just that. We have identified India’s favorite flavors and incorporated them into our snacks to provide an offering that ranks high on both taste and health benefits. I believe that through the flavors campaign, we will be able to convince our customers that leading a healthy lifestyle won’t mean compromising on taste. Q) Tell us a bit about the recently launched campaign and the thought behind it? Over the years, we have built our brand proposition around the health benefits of Too Yumm! Having established ourselves as a strong player in the category, we now wanted to shift our focus to what consumers tend to take into consideration, more often than not, when deciding between snacks. With our flavors campaign rolling out this year, we have identified India’s favorite flavors and incorporated them into our snacks. What makes our products stand out here is the fact that these flavors have been made specifically to cater to the Indian palete. Our new campaign ‘Har Craving ka Jawaab’ aims to position Too Yumm! as the perfect guilt-free solution to all cravings, irrespective of where or when they arise. The ad campaign reveals India’s favorite flavors according to Virat Kohli – Noodle Masaala, Dahi Pappdi Chaat, Chilli Chataka and Chilli Achaari. The TVCs deliver a strong message that no matter where or when a craving arises, it can be aptly satisfied by opening a pack of your favorite Too Yumm! flavor. Q) How has roping in Virat pretty early in your brand journey helped you build your brand image? We realized rather early on in our journey that to succeed in the healthy snacking category, we would need an influencer. With influencers picking only brands and causes that they support and can get behind, consumers take their opinions into consideration before making a purchase. For us, making Virat our health ambassador helped us successfully reach our target audience and convey the right message. Virat’s personality matches that of our brand and hence our consumers get the right idea. We make sure to rope in our health ambassador in most, if not all our communications with our consumers. Additionally, since he is an inspirational personality representing the most-loved sport of our country and falls within the target age bracket, the match seemed ideal. Being an inspiration to the youth of the country, Virat is admired for his fitness regime and healthy lifestyle. Keeping this in mind, when youngsters look at Virat endorsing and enjoying our brand, they immediately associate it to health and wellness. Our latest ad campaign built around the new flavours shows Virat satisfying his cravings by opening a pack of Too Yumm! Hence, making Too Yumm! an aspirational product for the millennial generation by default. Q) Are there any new categories that Too Yumm! is currently looking at entering? Our next aim is to expand our presence among kids. Since we have already established ourselves in the healthy snacking category and have the parents’ trust on our side, we believe now would be the right time to provide a greater variety of offerings to the children. Q) How was 2019 for brand Too Yumm? Can you share some growth figures? What are your targets for 2020, and how do you aim to achieve these numbers? 2019 has been a good year for us overall. We stayed true to the core of ‘Health’ for our brand and entrenched it further with the genres relevant to us – like sports, travel, music, humour, and health; associated with platforms such as Kumbh, IPL, Karare Strikers gaming, Amazon Prime – Inside Edge Season 2, Mughl-e-azam. In 2019, we also became the first and only FMCG brand to set a Guinness World Record at the Kumbh Mela 2019 by lighting the world’s largest diya as a symbol of good health. Within just 2 years of operation, we have managed to scale operations to reach a Rs 200 crore sales run rate by April 2019 – becoming the country’s fastest growing healthy snacking brand in India. Based on our success in India, we have also expanded distribution to International markets with Singapore, Australia, Dubai, Oman, Bangladesh and Nepal being some of the latest additions. From 5 variants and 15 flavours in the market, we aim to continue growing the healthy snacking market with the launch of newer variants and expansion to new markets. Our latest campaign focuses on the 4 hero flavors of Too Yumm! that are made to suit the India palate. Having established ourselves as a healthy snacking option, we want to introduce Too Yumm! in the kids market as well. So in totality, we have a lot of work and great plans in the pipeline for the brand. Q) How critical a role will your FMCG offerings play in RP <keyword id="6355523" type="PERSON" weightage="20" keywordseo="sanjiv-goenka">Sanjiv Goenka</keyword> Group’s overall growth? FMCG is just in its third year from a start-up; and in the very large RPSG group it’s a rather late entrant and small contributor currently. However it’s one of the most disruptive initiatives within the group that has a large vision and ambition for FMCG play with a very strong focus for the future. Q) What’s your primary media mix? We have a healthy media mix but a larger share of our communication is through TV and digital platforms as that provides us with requisite width to reach and engage our consumers. Q) Going ahead, what will be your broad marketing strategy to grow the brand further and capture a bigger market share? Our marketing strategy is more or less the same to reach our target audience – to provide our consumers with healthy yet tasty options for guilt free bingeing.

Having established itself in the healthy snacking category, Too Yumm! to foray into kid’s category soon

Kolkata, Mar 12 () RP Sanjiv Goenka group companyCESC Ventures on Thursday said it has acquired 8.49 per centstake in a Mumbai-based small technology company Peel-WorksPrivate Limited at a total cost of Rs 20.99 crore.The deal was made to support the group's FMCG businessthat sells Too Yum brand snacks.CESC Ventures said Peel-Works is a technology-drivendistribution company which supplies goods - food, grocery andconsumer products - to retailers and wholesalers where ordersare collected through a software application.The company said this is an emerging, early-stagegrowth business having synergy with FMCG and retail business. CESC Ventures will acquire 4,134 CompulsorilyConvertible Preference Shares of Peel-Works at a totalconsideration amounting to Rs 20.99 crore.The group was aiming at a Rs 10,000 crore revenue fromFMCG business in the next three to four years, the company hadsaid earlier. BSMNN NN

CESC Ventures picks 8.49% stake in tech firm

Praising the <keyword id="905742" type="ORGANIZATION" weightage="80" keywordseo="Narendra-Modi-led-government">Narendra Modi-led government</keyword> for its prompt rescue operations in <keyword id="12266" type="COUNTRY" weightage="80" keywordseo="Nepal">Nepal</keyword> and parts of India struck by a massive <keyword id="6362774" type="UNKNOWN" weightage="80" keywordseo="earthquake">earthquake</keyword>, <keyword id="46431" type="CITY" weightage="80" keywordseo="India-Inc">India Inc</keyword> has pledged support in relief and rehabilitation work. The death toll has already crossed 2,000 while thousands have been injured. 
 "Exemplary work by the government and our armed forces in prompt and purposeful action towards aid of the victims of Nepal earthquake. In times of a tragedy of such gargantuan proportions, India Inc has always partnered with the government and relief agencies both during and after the crisis. Till the requirements of rehabilitation are established, I urge all Indians to contribute directly to the <keyword id="49687" type="ORGANIZATION" weightage="80" keywordseo="PM-relief-fund">PM Relief Fund</keyword>. At this hour, prayers of a billion Indians are with the people of Nepal," Harsh Goenka, chairman, <keyword id="33244" type="CITY" weightage="80" keywordseo="RPG-Enterprises">RPG Enterprises</keyword>, told TOI. 
 His brother <keyword id="6355523" type="PERSON" weightage="80" keywordseo="Sanjiv-Goenka">Sanjiv Goenka</keyword>, chairman of <keyword id="724092" type="COMPANY" weightage="80" keywordseo="RP-Sanjiv-Goenka-Group">RP-Sanjiv Goenka Group</keyword>, is chairing a National Task Force that will oversee industry mobilization and participation in the relief operations. 
 <keyword id="46425" type="PERSON" weightage="80" keywordseo="Anand-Mahindra">Anand Mahindra</keyword>, chairman of <keyword id="6355744" type="CITY" weightage="80" keywordseo="Mahindra-Group">Mahindra Group</keyword>, who has experience of disaster relief in New Orleans after hurricane Katrina and Haiti after hurricane Sandy, is determined to act and serve the community in Nepal and in India. "Our experience has shown that at this stage the best way we can help is by pressing vehicles and tractors into relief operations to help in search and rescue and in transporting both the injured to medical facilities and in carrying relief supplies to affected areas. In both Nepal and India, we intend to undertake these activities right away and our branches and dealers in Nepal and in Bihar and other affected Indian districts will make both vehicles and tractors available to authorities and relief agencies. 
 
"In the second phase, when longer term rehabilitation becomes the focus, we will evaluate the quantum and modality of monetary contributions," Mahindra told TOI. 
 <keyword id="2825599" type="UNKNOWN" weightage="80" keywordseo="Indiabulls-Foundation">Indiabulls Foundation</keyword> will be deploying both manpower and financial resources over the next few days to provide healthcare, essential commodities, food and clothes. "We are working out the logistics and will ensure presence in affected areas of Nepal over the next 2-3 days. We had taken a similar lead during the Jammu floods a few months back," said Gagan Banga, VC and MD, Indiabulls Group. 
 India Inc since independence has played a major role in helping people during calamities, said <keyword id="75979" type="COMPANY" weightage="80" keywordseo="Videocon-Industries">Videocon Industries</keyword> chairman <keyword id="7025" type="PERSON" weightage="80" keywordseo="Venugopal-Dhoot">Venugopal Dhoot</keyword>. "That's our culture. So we at Videocon will provide financial help for rehabilitation in Nepal Dhoot told TOI. He also praised the <keyword id="71" type="POSITION" weightage="80" keywordseo="Prime-Minister">Prime Minister</keyword>'s prompt action to help Nepal. Industry bodies <keyword id="6358345" type="ORGANIZATION" weightage="80" keywordseo="CII">CII</keyword> and <keyword id="6355001" type="CITY" weightage="80" keywordseo="FICCI">FICCI</keyword> have also swung into action. "CII has already started working towards mobilizing support from the industry towards immediate relief operations in Nepal. We are in touch with the ministry of external affairs, the Indian embassy in Kathmandu and also Nepalese consulate in Kolkata. We are arranging relief material — ready-to-eat food, water, biscuits, medicine, blankets — which would be transported through the neighbouring states of Bihar and Bengal," said CII director general <keyword id="6560611" type="PERSON" weightage="80" keywordseo="Chandrajit-Banerjee">Chandrajit Banerjee</keyword>. 
 FICCI too has joined hands with the Indian government for relief and rehabilitation work in Nepal, said Didar Singh, secretary general, FICCI. Industry body's president, <keyword id="2659015" type="UNKNOWN" weightage="80" keywordseo="Jyotsana-Suri">Jyotsana Suri</keyword>, has committed to provide water and about 5,000 bottles are being arranged to be dispatched. "More than 2,000 tents, blankets, baby food, and OTC drugs are also being supplied by our members, which will be dispatched to the disaster site in coordination with the ," Singh said. 
 <keyword id="101435" type="CITY" weightage="80" keywordseo="Bajaj-Group">Bajaj Group</keyword> chairman <keyword id="33278" type="PERSON" weightage="80" keywordseo="Rahul-Bajaj">Rahul Bajaj</keyword> also praised the government's quake relief operations. "We have been at the forefront when it comes to helping during natural calamities like this. I have been very much impressed with the Indian government's instant response to undertake relief measures. This time also we will help as we did in the past. Being a corporate house, we can support financially. Our heart goes out to those affected," Bajaj told TOI.

Nepal Earthquake: Super impressed with rescue ops, India Inc praises Modi and pledges full support

New Delhi, Dec 19 () India Inc leaders, including Bharti Enterprises Chairman Sunil Bharti Mittal, CII President Vikram Kirloskar and Assocham President Balkrishna Goenka, on Thursday asked the government to take measures to augment ease of doing business to "create more freedom for the industry to perform".
 In a pre-Budget meeting with Finance Minister Nirmala Sitharaman, the corporate leaders highlighted several issues, including certain income tax matters which were coming in the way of mergers and acquisitions or slowing them down and roles that need to be played by state businesses to prosper at the ground level.
 "I have come here today to discuss only one thing -- make doing business easy in the country. That was what my thrust was," Bharti Airtel Chairman Sunil Bharti Mittal told reporters after the meeting.
 He said some suggestions around mergers and acquisitions (M&amp;As), demerger, NCLT process, about certain sections of income tax which were coming in the way of M&amp;A or slowing them down were made.
 "The idea is to create more freedom for the industry, for them to perform. I think the finance minister received them very well with her associates and secretaries. What we look forward to this Budget is that they unleash the energy of the Indian entrepreneurs to do more," Mittal said.
 Expressing similar views, Assocham President Balkrishna Goenka said for "ease of doing business, states have to play an important role" and last mile issues are there, which need to be resolved. 
 When asked about the meeting, CII President Vikram Kirloskar said, "We talked about ease of doing business, which are the issues concerning many industries."
 RP-Sanjiv Goenka Group Sanjiv Goenka said the discussions "centred around more around what can be done to stimulate growth, to facilitate the ease of doing business".
 "I think the finance minister and her team were extremely open to all suggestions," Goenka said, adding that "it is the first time I have seen this kind of response from the government".
 On the current slowdown and its impact on capacity utilisation across many industries, he said, "We all recognised that it is going to take a couple of quarters, three quarters, four quarters, before this capacity gets utilised. We understand that, and that is the reality of the situation."
 Ficci President Sandip Somany said the industry representatives gave suggestion to the FM "to reduce income tax for those who earn less than Rs 20 lakh in a year so that there is more disposable in the hands of consumers and the economy benefits".
 He further said, "We have also asked the FM to take measures about reducing EMIs, which can happen only if the banks reduce the interest rates on loans."
 Stating that while the RBI has cut 135 bps, banks have reduced only 45 bps, Somany said, "If there can be more transmission of RBI's cut to consumers, then the EMIs will be reduced and it will also improve consumption."
 A finance ministry statement said, "During the interactive session lasting over two hours, prominent industrialists spoke about improving regulatory environment to safeguard investments through ease of doing business, increasing export competitiveness, reviving private investment and kick-starting growth measures."
 In the pre-budget consultations in connection with the forthcoming General Budget 2020-21, industrialists also suggested many ways to boost the rural economy, especially to increase consumption, it added.
 Other suggestions included improvement in insolvency process in relation to NCLTs and banks; faster mergers, acquisitions and demergers processes, ways to reduce time for FDI approval; structural changes in laws for effective and stable business environment; time-bound decisions for augmenting ease of doing business both at the central and state levels.
 The industry leaders also called for new investment of capital for building infrastructure, CAPEX for infrastructure to boost the economy, preventing predatory pricing and dumping in India while facilitating R&amp;D in India to boost Make in India, the statement said.
 They also called for harnessing public-private-partnership (PPP) by leveraging social funding through a new programme and ensure liquidity for NBFCs with focus on the rural economy and ways to increase consumption in the economy, it added.
 Other industry leaders who took part in the pre-Budget consultations were GMR Group CHairman BVN Rao, Ashok Leyland MD and CEO Vipin Sondhi, Wipro Global Chief Financial Officer Jatin Dalal, K Raheja Corp Group Group President Ravi Raheja and Patanjali Ayurved Ltd Chairman Acharya Balkrishan, among others. RSN RKL MKJ

Industry leaders draw govt attention on ease of doing business in India

The Indian cricket board will be expecting the two new <keyword id="6354312" type="General" weightage="20" keywordseo="IPL" source="Orion">IPL</keyword> franchises to go for Rs 7000 crore to Rs 10,000 crore each after the bidding process begins here on Monday. It is still not clear whether the BCCI will announce the successful bidders on Monday itself after doing the technical evaluation of the bids. There are 22 companies which have picked up tender document worth Rs 10 lakh but with base price for new teams pegged at INR 2000 crore, there is expected to be only five to six serious bidders in fray. The BCCI is also allowing a consortium of up to three companies/individuals to bid for a franchise. However, in case of an individual or company, that particular entity's annual turnover should be minimum INR 3000 crore and in case of consortium, each of the three entities should have an annual turnover of INR 2500 crore. In this scenario, one of India's richest business tycoon <keyword id="111343" type="General" weightage="20" keywordseo="gautam-adani" source="Orion">Gautam Adani</keyword> and his Adani Group are expected to bid for the Ahmedabad franchise. Adani Group, if they finally put up a bid, are the favourites to own a new franchise. Similarly, RPSG group which is headlined by billionaire Sanjiv Goenka are also considered to be serious bidders for a new franchise. Whether RPSG would have any individual or other company as a part of consortium is still not known. "Gautam Adani and Sanjiv Goenka are the biggest names in the Indian industry. They will be serious bidders. Expect a minimum bid of INR 3500 crore from the potential bidders. Don't forget that IPL broadcast rights is projected around USD 5 billion (Rs 36,000 Crore). "So the economics will work accordingly as franchises get the TV revenue share equally," a BCCI insider tracking the developments told PTI on conditions of anonymity. For the record, Goenka owned the <keyword id="12377413" type="General" weightage="20" keywordseo="pune-franchise-rising-pune-supergiants" source="Orion">Pune Franchise Rising Pune Supergiants</keyword> (RPS) for two years and is also the owner of ISL franchise ATK Mohun Bagan. There has been buzz that Lancer group, which is owned by Manchester United owner Avram Glazer, has also picked up the bid document. The other notable companies which are in fray comprise Kotak group, pharmaceutical majors Aurobindo Pharma and Torrent group. The two cities that are favourites in terms of stadium capacity are <keyword id="10818893" type="General" weightage="20" keywordseo="narendra-modi-stadium" source="Orion">Narendra Modi Stadium</keyword> in Motera with more than 100,000 capacity while the other is Ekana Stadium in Lucknow with 70,000 capacity. The other cities in the hunt are Indore, Guwahati, Cuttack, Dharamsala and Pune. Former India cricketer may join one of the consortium A former India opener may join one of the consortiums which is expected to be serious bidders for the new franchises. "Yes, a former India opener is ready to shell out around INR 300 crore and buy a minority stake if the consortium he is part of is able to successfully bid for a new team. He comes from a business family and he does want to invest in a cricket team. "He is a distinguished player in his own right and also understands how the franchisee universe works," the BCCI source said. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/tech/gadgets/news/chip-shortage-hits-new-brands-in-tough-indian-laptop-market/articleshow/87234868.cms">Chip shortage hits new brands in tough Indian laptop market</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/india/news/petrol-and-diesel-prices-hiked-again-by-35-paise-for-fifth-consecutive-day-across-the-country/articleshow/87234812.cms">Petrol and diesel prices hiked again by 35 paise for fifth consecutive day across the country</a>

New IPL teams: BCCI expecting anything between ₹7,000-₹10,000 crore  with Adani, Goenka, Aurobindo in fray

Kolkata, Jun 13 () I-League champions Mohun Bagan on Saturday decided against reopening its club tent in the wake of the spike in COVID-19 cases in the city. Kolkata has recorded over 1,000 COVID-19 cases in the past 10 days, even as the number of positive patients in Bengal surged past the 10,000 mark on Friday. The Mariners' tent was slated to reopen from Monday but the club, who have merged with Indian Super League champions ATK, said in a statement that they are reversing their earlier decision. "The situation due to the COVID-19 pandemic is very serious and the rate of infected people is drastically increasing everyday. We regret to inform you that in view of the prevailing situation and for the safety of all our members and supporters, the club management has decided not to open the club tent from Monday," the club said in a statement. "We are keeping a close watch on the situation and will do periodical review," it said. However, their merchandise would be available online and the details of the sale would be updated, the club said. West Bengal on Friday registered its highest single-day spike with 476 cases and the overall toll went up to 451 with nine more deaths. The situation has also delayed the launch of the merged entity, which is likely to be named as ATK-Mohun Bagan. The merged entity was slated for a June 1 launch but due to the pandemic the respective Boards' meeting has not yet taken place. Sanjiv Goenka-owned RPSG Group has acquired a majority stake of 80 per cent in Mohun Bagan. TAP SSC SSC

Bagan not to reopen club tent from Monday due to spike in COVID cases

Emami group, Kolkata-based conglomerate ranging from FMCG products to real estate and healthcare are now setting up a family advisory board . The intent is to make younger generation of the two unrelated families of RS Agarwal and RS Goenka participate in the business. 
As per a news report by The Economic Times, the professionals heading various departments who don’t belong to the family would report to the advisory board. Agarwal’s children Aditya Agarwal, Harsh Agarwal and Priti Surekha, and Mohan Goenka, Manish Goenka and Prashant Goenka of the Goenka family have already formed the board. 
 
Talking to the ET, RS Agarwal, joint chairman of the Emami group said, the group will also hire US-based The Family Business Consulting Group to help in this process. 
 
Harsh Agarwal and Mohan Goenka were seen as the front runners in the family to formally lead the flagship FMCG business which has been aggressively acquiring brands and companies. "Both families have equal crossholdings across various group companies and will seek advice from experts to chart out a robust plan," RS Agarwal told ET. 
 
"We have ensured that the next generation in the family shares a close relationship similar to mine and Mr Goenka's and all of them are not different from each other in their values, mindsets and approach to business." All businesses of the Emami group have one member from each family on board as a director. Emami group watchers said it will be a challenging task for the promoters to chalk out a clear succession plan without ruffling feathers in the family. 
 
"Fortunately for the group, there are no different voices in the family and they are similar in nature although they are from two different families," Anand Rathi, founder chairman of Anand Rathi Securities, a financial services firm, who has known the Emami founders since the inception of the group told the financial daily. 
 
The promoters have trained the second generation to have a unified approach, said Rathi. "So while the daily operations are handled by non-family professionals, the family has worked along with them smoothly, with each of them playing to their respective strengths," he said. 
 
The challenge for most family owned businesses, as Rathi told the ET, is to coordinate a structure that has professional managers hired from outside and equally capable family youngsters with formal education and ambitions. 
 
The founders are now focused on ensuring that the next generation works together without conflicts, just as they did."There is a formal code of conduct laid down for all members of the family," said Agarwal to the ET. 
 
"Succession planning is an area we are looking at very carefully and seriously, and taking a lot of advice from experts to ensure unanimity in the family and working together to achieve business goals,” added Agarwal. 
 
The formal code of conduct includes dos and don'ts such as no personal loan for any family member, no stock market speculation on part of anybody in the family and restriction on the number of holidays allowed in a year. 
 
(Image: mycollegefest)

Emami is showing the way forward for all family-run businesses! Even the Ambani’s can learn from it

<keyword id="10138" type="PERSON" weightage="20" keywordseo="Mahendra-Singh-Dhoni">Mahendra Singh Dhoni</keyword> was today removed as captain of <keyword id="6354312" type="CITY" weightage="100" keywordseo="IPL">IPL</keyword> franchise Rising Pune Supergiants and replaced by Australian <keyword id="84726" type="PERSON" weightage="20" keywordseo="Steve-Smith">Steve Smith</keyword>, ending his innings as skipper in both international and franchise cricket, according to news agency <keyword id="6367495" type="COMPANY" weightage="20" keywordseo="PTI">PTI</keyword>. <a href="http://www.businessinsider.in/Dhonis-daughter-just-did-a-photoshoot-and-its-cutenessoverloaded/articleshow/55924984.cms">ALSO READ: CUTENESS ALERT: DHONI'S DAUGHTER JUST DID A PHOTOSHOOT</a> 
 <keyword id="6397" type="PERSON" weightage="100" keywordseo="Dhoni">Dhoni</keyword>, who had stepped down as India's limited-overs <a href="http://www.businessinsider.in/Dhonis-daughter-just-did-a-photoshoot-and-its-cutenessoverloaded/articleshow/55924984.cms">captain</a> to snap his international run as skipper earlier this year, will, however, continue to be a part of the Pune franchise as a player. 
 "Dhoni has not stepped down. We have appointed Steve <keyword id="11668" type="PERSON" weightage="20" keywordseo="Smith">Smith</keyword> as the skipper for the upcoming season. Frankly speaking, we did not have a good last season and we wanted someone young to lead the side and revamp it ahead of the upcoming season 10," Rising Pune Supergiants owner <keyword id="6355523" type="PERSON" weightage="20" keywordseo="Sanjiv-Goenka">Sanjiv Goenka</keyword> told PTI. 
 
This is the first time that the 35-year-old, who had stepped down from Team India captaincy on his own terms in all formats, has been removed from the top position. 
 
The decision comes a day before the <a href="http://www.businessinsider.in/Dhonis-daughter-just-did-a-photoshoot-and-its-cutenessoverloaded/articleshow/55924984.cms">players' auctions</a> scheduled to be held in <keyword id="6354321" type="CITY" weightage="20" keywordseo="Bengaluru">Bengaluru</keyword>. 
 "I have the highest regard for MS Dhoni as a leader and a person. Dhoni continues to be an integral member of our team. He is supportive of the decision keeping the franchise's best interests in mind," <keyword id="7812" type="PERSON" weightage="20" keywordseo="Goenka">Goenka</keyword> added. 
 
The most expensive player of the tournament that began in 2008, Dhoni also has been among the most successful. 
 Part of the now suspended <keyword id="13886" type="ORGANIZATION" weightage="20" keywordseo="Chennai-Super-Kings">Chennai Super Kings</keyword> franchise from 2008 to 2015, <a href="http://www.businessinsider.in/Dhonis-daughter-just-did-a-photoshoot-and-its-cutenessoverloaded/articleshow/55924984.cms">Dhoni led the team</a> to back-to-back titles in 2010 and 2011. Besides, he also led Chennai to the Champions League T20 trophies in 2010 and 2014. 
 He was the first one picked in the only draft held in the IPL, in December 2015, after Chennai and <keyword id="13802" type="CITY" weightage="20" keywordseo="Rajasthan-Royals">Rajasthan Royals</keyword> were suspended for two years and two new franchises -- Pune and <keyword id="1641060" type="UNKNOWN" weightage="20" keywordseo="Gujarat-lions">Gujarat Lions</keyword> -- were given the option of choosing up to five players each. 
 
He has been with the Pune franchise ever since. The man replacing him in the leadership role, the 27-year-old Smith, is currently the captain of the Australian crickteam in all three formats. 
 
He was appointed Test captain in 2014/15 and he took over the ODI captaincy reigns after the 2015 World Cup. 
 
Pune, who were one of the two teams along with Gujarat Lions to be inducted last season in place of the the suspended Chennai Super Kings and Rajasthan Royals, were plagued with injury issues. 
 They just about avoided the wooden spoon to finish ahead of <keyword id="13883" type="COMPANY" weightage="20" keywordseo="Kings-XI-Punjab">Kings XI Punjab</keyword> at the seventh place in the eight-team standings of IPL 2015. 
 Although the team started well with a win over <keyword id="13880" type="COMPANY" weightage="20" keywordseo="Mumbai-Indians">Mumbai Indians</keyword> in the first match, it failed to maintain the consistency with the likes of <keyword id="9231" type="PERSON" weightage="20" keywordseo="Kevin-Pietersen">Kevin Pietersen</keyword>, Faf du Plessis and <keyword id="88531" type="PERSON" weightage="20" keywordseo="Steven-Smith">Steven Smith</keyword> all withdrawing due to injuries.

IPL 2017: MS
Dhoni is no more the captain of Rising Pune
Supergiants. Here’s who replaced him

<ul><li>The video of Welspun India’s CEO Dipali Goenka dancing with her colleagues, to the tune of Muqabla song from the Street Dancer 3D, has gone viral on the internet </li><li>The 50-year old Joint Managing Director and CEO of the ₹4,500-crore (over $600 million) Welspun India. </li><li>This is just one party on the road to the targeted $2 billion in revenue by 2022</li></ul>The video of Welspun India’s CEO Dipali Goenka dancing with her colleagues, to the tune of Muqabla song from the Street Dancer 3D, has gone viral on the internet. Many industry leaders,<a href="https://twitter.com/Varun_dvn/status/1230035375734784001"> bollywood actors</a> and politicians applauded the 45-sec video giving a glimpse at a ‘happy workplace’. But the 50-year old Joint Managing Director and CEO of the ₹4,500-crore (over $600 million) Welspun India has a lot more to her credit than a viral video. 
	
	<div type="twitter" handle="hvgoenka" handlename="Harsh Goenka" image="http://pbs.twimg.com/profile_images/1100471315016732672/VQXLpkHZ_normal.jpg" favoritecount="13586" retweetcount="2226" status="Rare to see a CEO dance and have fun in an office setting. That’s the way to create a happy culture @DipaliGoenka… https://t.co/DHDlNz8Gy9" createdat="1582045195000" id="1229812801889357824"></div>





 The reason for the celebration: Welspun India, which makes towels, bathrobes, and bedsheet, registered a whopping 55% growth in net profit for the third quarter ending on December 31, 2019, sparking hopes of a turnaround amidst gloomy prospects for the entire sector. This is just one party on the road to the targeted $2 billion in revenue by 2022. Goenka had a tough start as the boss 
 
 <div type="image" title="BCBE8AC1-8420-48A1-A8D7-E84E24DD23EC" msid="74211911" hostid="261"></div> Goenka was a homemaker, and the wife of <keyword id="949657" type="PERSON" weightage="20" keywordseo="Balkrishan-Goenka">Balkrishan Goenka</keyword> (the Chairman of the <keyword id="157753" type="COMPANY" weightage="20" keywordseo="Welspun-Group">Welspun Group</keyword>) until she decided to become an executive back in 2002. She became an entrepreneur with a new business line, Spaces, a brand that targets premium for towels and bedsheets at a domestic level. Nine years ago, in 2011, Goenka shook the textile industry in India when she took charge of the company. Some industry leaders thought the “Welspun has lost its mind” <a href="https://www.thehindubusinessline.com/business-wire/forbes-ranks-dipali-goenka-as-the-16th-most-powerful-businesswoman-in-asia/article8446854.ece">reported Forbes</a>. ‘Is she here because she is a part of the management?” <a href="https://wow.outlookbusiness.com/dipali-goenka/">Goenka told the media</a>. Two years later, she became the joint managing director in 2013. A few years into the business, Goenka proved the skeptics wrong. Welspun India’s annual revenue was nearly ₹5,500 crore last year. In fact, a look at the stock price of Welspun India shows that the real wealth generation for investors happened only after she took over. 
 
 <div type="image" title="welspun india share price" msid="74211828" hostid="261"></div>





Source: Google Finance Now, the company expects the WelHome and Spaces brands to touch ₹3,500 crore, according to an Edelweiss report, by next year whereas the current market value of entire Welspun India is just ₹4,500 crore. What makes her achievement special is that she has managed to grow the company at a time when the textile industry has been struggling to survive. Particularly, the textile exporters from India have been losing out <a href="https://scroll.in/article/810671/three-charts-show-how-indian-textile-industry-lost-the-race-to-bangladesh-and-vietnam">cheaper competition from Bangladesh and Vietnam</a>. The early setback Sexism was not the only challenge for Goenka. One of the biggest setbacks for the group was in 2016, when Target Corp, second largest value retailer in the US, informed their customers that Welspun India sold them substandard bedsheets. 
 
 <div type="image" title="Capture" msid="74211847" hostid="261"></div>





 At the time, Target gave about 10% of Welspun India’s billion-dollar revenue every year. Their market cap took a steep fall of 54% — from ₹103.34 billion to ₹46.97 billion between August 19, 2016 and August 30, 2016. Goenka <a href="https://economictimes.indiatimes.com/industry/cons-products/garments-/-textiles/how-welspun-india-is-emerging-from-a-crisis-that-rocked-its-credibility/articleshow/69706022.cms">took responsibility and met all her customers </a>including JCPenney, Costco, <keyword id="80487" type="COMPANY" weightage="20" keywordseo="walmart">Walmart</keyword> in the US to Sainsbury in Europe. In 2017-18, the company’s gross sales fell by 9%. But the company seems to have recovered from that now. It was ranked as the <a href="http://outlookindia.com/outlookmoney/investment/the-weaver-welspun-india-2122">top home textile suppliers in the US in 2017 </a>and has a distribution network in over 32 countries including US, UK, Europe, Canada and Australia. The good fight Goenka has not only chased her corporate aspirations, she has also strongly backed gender equality. “The biggest change is that the percentage of women has gone up from 7% to 23% in our workforce. IQ is not the only thing that will take an organisation forward. It is also the EQ. And that’s the balance women bring,” Goenka<a href="https://wow.outlookbusiness.com/dipali-goenka/"> told Outlook Business. </a> While prodding other billionaire-owners of big businesses like <keyword id="46425" type="PERSON" weightage="20" keywordseo="Anand-Mahindra">Anand Mahindra</keyword>, <keyword id="55796" type="PERSON" weightage="20" keywordseo="Kiran-Mazumdar-Shaw">Kiran Mazumdar Shaw</keyword> and <keyword id="111343" type="PERSON" weightage="20" keywordseo="Gautam-Adani">Gautam Adani</keyword> to make their workplace more fun, Goenka has also become the face of a changing corporate culture in India. SEE ALSO: <a href="https://www.businessinsider.in/business/corporates/article/escorts-share-price-and-inside-story-of-how-market-value-nearly-doubled-in-a-new-book/articleshow/73763872.cms">The inside story of how Escorts turned around to become a nearly ₹10,000-crore company</a> <a href="https://www.businessinsider.in/business/corporates/news/profit-margin-on-jockey-and-speedo-shrinks-shows-page-industries-q3-earnings/articleshow/74119148.cms">Biting slowdown is squeezing Page Industries' profit margin on Jockey and Speedo</a> <a href="https://www.businessinsider.in/business/startups/news/manish-malhotra-ritu-kumar-sabyasachi-and-other-top-designer-clothes-are-available-for-rent-thanks-to-this-indian-startup/articleshow/72326885.cms">Manish Malhotra, Ritu Kumar, Sabyasachi and other top designer clothes are available for rent thanks to this Indian startup</a> <a href="https://www.businessinsider.in/business/news/everybody-needs-a-haircut-says-celebrity-stylist-jawed-habib-who-does-not-fear-the-effect-of-a-slowdown/articleshow/74132791.cms">Star hair stylist Jawed Habib reveals why $30 million franchise hasn't cut prices this slowdown</a>

Welspun CEO Dipali Goenka is more than a dancing CEO⁠— she’s a homemaker-turned-CEO engaged in the good fight

<keyword id="564534" type="General" weightage="20" keywordseo="emami-limited" source="Orion">Emami Limited</keyword>, at a board meeting held on Thursday, announced that its founders, <keyword id="862121" type="General" weightage="20" keywordseo="R-S-Agarwal" source="Orion">R.S. Agarwal</keyword> and <keyword id="13094825" type="General" weightage="20" keywordseo="r-s-goenka" source="Orion">R.S. Goenka</keyword> have expressed their desire to step down from their current executive positions while continuing on the Board. Accordingly, the Board unanimously decided to appoint R.S. Goenka as Non-Executive Chairman while re-designating R.S. Agarwal as Chairman Emeritus effective 1st April, 2022. Both the Founders will not accept any emoluments from the Company for taking up their new positions. The decision comes in the wake of Board restructuring that was part of the succession planning of the FMCG business of the Group. The Emami Ltd Board also acceded to Sushil K. Goenka's desire to step down from his current position as the Managing Director of Emami Ltd as part of the transition process and has re-appointed him as a Whole-Time Director of the Company effective 1st April, 2022. <keyword id="195893" type="General" weightage="20" keywordseo="mohan-goenka" source="Orion">Mohan Goenka</keyword> and <keyword id="1935599" type="General" weightage="20" keywordseo="harsha-v-agarwal" source="Orion">Harsha V. Agarwal</keyword>, Whole-Time Directors of Emami Ltd., have been spearheading multiple functions and growing the business successfully thereby gaining immense exposure to steer the organisation forward. The Board therefore found them to be deserving candidates and re-designated Mohan Goenka and Harsha V. Agarwal and Whole-Time Directors as Vice Chairman-cum-Whole Time Director and Vice Chairman-cum-Managing Director respectively, effective April 1, 2022 to steer the organisation forward, subject to shareholders' approval. Commenting on the announcement, Founders, R.S. Agarwal and R.S. Goenka said, "We are happy to announce the re-designation of Mohan Goenka and Harsha V. Agarwal as Vice Chairman-cum-Whole Time Director and Vice Chairman-cum-Managing Director respectively. They have been in the forefront of running &amp; growing the organisation for over two decades and their ascension today is the formal recognition of their contribution by our esteemed Board." SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/tech/news/chip-spending-increased-by-25-2-per-cent-in-2021-amid-global-shortage-gartner/articleshow/89322024.cms">Chip spending increased by 25.2 per cent in 2021 amid global shortage: Gartner</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/tech/news/facebook-blames-prepaid-tariff-hike-in-india-for-slow-user-growth/articleshow/89321413.cms">Facebook blames prepaid tariff hike in India for slow user growth</a>

Emami founders step down from executive positions

<ul><li><keyword id="599253" type="PERSON" weightage="20" keywordseo="Punit-Goenka">Punit Goenka</keyword> will be the MD &amp; CEO of ZEEL for the next five years.</li><li>He was appointed CEO in July 2008 and has been MD of the <keyword id="6354777" type="COMPANY" weightage="20" keywordseo="Media">media</keyword> firm since January 1, 2010.</li><li>The statement also said that approval on the <keyword id="388617" type="PERSON" weightage="20" keywordseo="reappointment">reappointment</keyword> will be sought from shareholders subsequently.</li></ul> In a statement to the <keyword id="43628" type="CITY" weightage="20" keywordseo="Bombay-stock-exchange">Bombay Stock Exchange</keyword>, the Board of Directors of <keyword id="174248" type="COMPANY" weightage="20" keywordseo="Zee-Entertainment-Enterprises-Ltd">Zee Entertainment Enterprises Ltd</keyword>. (ZEEL) has decided to reappoint Punit Goenka, in principle as the Managing Director &amp; CEO of the company, for a further period of 5 years upon conclusion of his current term on December 31,2019. The statement further said that shareholder approval would be sought subsequently. Goenka, the elder son of Essel group promoter and Zee chairman <keyword id="6442405" type="PERSON" weightage="20" keywordseo="subhash-chandra">Subhash Chandra</keyword> was appointed CEO in July 2008 and has been MD of the media firm since January 1, 2010.

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