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<ul><li>L&amp;T now has 51.8% stake in Mindtree</li><li>73.9% of Mindtree shareholders sold in an open offer by L&amp;T</li><li>Mindtree shareholder Nalanda Capital offloaded its 10.6% stake to L&amp;T</li></ul> L&amp;T is known to have taken over controlling stake in IT services company Mindtree, pulling off a rare feat in India --- a hostile takeover. A large chunk of Mindtree shareholders tilted towards infrastructure major Larsen &amp; Toubro as 73.9% of them sold in the open offer at ₹980 a share. This has given<a href="https://www.livemint.com/companies/news/l-t-acquires-52-of-mindtree-in-indian-it-industry-s-first-hostile-takeover-1561536743325.html"> 51.8% stake in the</a> company to L&amp;T, and is known to have made over 20% stake from the offer, which was announced on June 7. The takeover turned successful after Nalanda Capital decided to offload its 10.6% stake to L&amp;T as a part of the open offer process, on June 24. Hostile takeovers are not common in India as promoters and the family own majority stake in their companies, leaving few outsiders to ever take control. Story so far However, Mindtree is one of the rare exceptions which is held by a clutch of investors and co-founder Subrato Bagchi. The takeover attempt started in March earlier when L&amp;T purchased 20% stake held by V D Siddhartha, the owner of Café Coffee Day chain for around ₹32.6 billion. After this, the promoters refused a bid to sell their stake, even as L&amp;T said it wanted to increase its shareholding to 66%. Even as L&amp;T has turned the promoter with a majority stake, during the course of the open offer more Mindtree investors are expected to concede. According to a<a href="https://www.business-standard.com/article/companies/subroto-bagchi-likely-to-offload-mindtree-stake-in-ongoing-open-offer-119062501210_1.html"> report by Business Standard</a>, the founder Subroto Bagchi, as well as Arohi Asset Management and Amansa Capital too, are in the process of giving up, to give way to L&amp;T. Interestingly, L&amp;T itself was once a target of a hostile takeover by none other than Reliance Industries which was then headed by Dhirubhai Ambani in 1987. Kumar Mangalam Birla was also one of the people who had purchased stake in the construction company, in an attempt to take over. However, timely thinking and setting up a trust by its own employees helped buy shares back. The trust is now of its biggest shareholders, after public sector insurance companies and banks.

L&T takes over Mindtree in Indian IT’s first-ever hostile acquisition

<keyword id="11032237" type="General" weightage="20" keywordseo="thrasio" source="Orion">Thrasio</keyword> Holdings Inc, an aggregator of private brands on <keyword id="18635" type="General" weightage="20" keywordseo="Amazon" source="Orion">Amazon</keyword>, on Friday said it will invest Rs 3,750 crore (nearly $500 million) to acquire leading digital-first brands in India. Thrasio started its Indian innings with acquiring Lifelong Online, a leading domestic online consumer brand, for an undisclosed sum. India is one of the fastest-growing regions for Amazon's third-party marketplace, making it enticing for aggregators. "We couldn't be more excited to work with Lifelong Online and, together, take our proven model to India," said Carlos Cashman, CEO of Thrasio. "In addition to acquiring and growing digital-first businesses, we plan to participate in the 'make in India' movement by transitioning the manufacturing for some of our products to the country," Cashman said. Thrasio has acquired more than 200 brands and raised more than $3.4 billion in funding. Lifelong will now be known as "Lifelong, a Thrasio company" and will be well-positioned to engage with India's more than 750,000 sellers. "We are building a technology-first, next-generation consumer goods company," explained Bharat Kalia, CEO of Lifelong Online. Lifelong Online was founded by Atul Raheja, Varun Grover, and Kalia in 2015. "With lucrative exit options for founders, we hope to encourage even more brands and sellers to join the D2C ecosystem in India," he added. According to the most-recent list from Marketplace Pulse, adding all of the Thrasio brands together, Thrasio would be a top-5 seller on Amazon's marketplace. In fact, Thrasio estimates that 1 in 6 US households has already purchased a Thrasio product via Amazon alone. "India is a unique market with hundreds of thousands of motivated entrepreneurs," said Cashman. Founded in 2018 by Joshua Silberstein and Cashman, Thrasio has a portfolio of tens of thousands of products. "We are thrilled to provide brand owners with the opportunity to successfully sell their businesses as well as to give consumers greater access to quality products. This is a major step in our evolution and a huge opportunity for India's sellers," said Cashman. SEE ALSO <a class="tout-title-link" href="https://www.businessinsider.in/stock-market/news/reliance-industries-hdfc-bank-mindtree-vodafone-idea-and-other-hot-stocks-on-january-14/slidelist/88888740.cms">Reliance Industries, HDFC Bank, Mindtree, Vodafone Idea and other hot stocks on January 14</a> <a href="https://www.businessinsider.in/politics/world/news/russia-warns-it-will-sever-ties-with-the-us-if-it-sanctions-putin-over-ukraine-crisis/articleshow/88884832.cms" data-type="tilCustomLink">Russia warns it will sever ties with the US if it sanctions Putin over Ukraine crisis</a> <a href="https://www.businessinsider.in/science/health/news/yes-cats-can-get-covid-19-but-theyre-unlikely-to-become-seriously-ill/articleshow/88887140.cms" data-type="tilCustomLink">Yes, cats can get COVID-19, but they're unlikely to become seriously ill</a>

Amazon aggregator Thrasio will invest half a billion dollars in buying Indian brands

The famed owner of Café Coffee Day chain of coffee shops <keyword id="808597" type="COMPANY" weightage="20" keywordseo="VG-Siddhartha">VG Siddhartha</keyword> was also exporting the largest quantity of coffee from India. The creator of the coffee empire went missing on Monday, July 29, 2019 when he went for a walk on the bridge of Netravati River in Dakshina Kannada. On Wednesday morning, July 31, 2019, his body was found in the waters of the river by a group of fishermen revealing the fact that VG Siddhartha had committed suicide. When the whole world is so shocked and surprised to know what could have forced the business tycoon to resort to such extreme measures, here are a few interesting facts about VG Siddhartha that will inspire anyone. <ul><li>Siddhartha founded the country’s first ever coffee chain. He was also the son in law of SM Krishna, former chief minister.</li><li>After the news about his suicide was known publicly, a letter written by him to the CCB Board and his family was found. In this letter, Siddhartha had stated that he was giving up not able to fight the pressures striking him from different directions. The letter also said he had "failed to create the right profitable business model" despite his best efforts. </li><li>Siddhartha owned the Asia’s single largest coffee estate. In addition to the CCD, Siddhartha had also created a hospitality chain that runs a seven star resort named Serai and Cicada.</li><li>CCD had employed about 30,000 employees around India. In a Rs. 3,000 crore deal, Siddhartha had sold his stake in Mindtree. </li><li>Per year, the total volume of coffee exported by Siddhartha is about 28,000 tons. Another 2,000 tons of coffee is sold locally with the coffee growing and trading company reporting an annual turnover of Rs. 60 million. </li><li>Siddhartha was 58 years of age when he died and he held a post-graduate degree in Economics. Their family owns about 15,000 acres of coffee estate and is the Largent coffee planters. </li><li>A month before Siddhartha’s death, Coca-cola had started talks to purchase a major stake in Café Coffee Day, the largest café chain in India. This was considered to be a well-calculated strategy that would hedge the risks connected with the selling of Coca-cola beverages in India and help the company to gain a strong foothold in the sub-continent if the deal had been realized.</li><li>Way back in 1985, Siddhartha had owned about 10,000 acres of coffee farms. As per his statement, he doubled his investment in the coffee plantations within a year when the coffee trading was liberalized in the 90s. </li><li>Siddhartha started the Amalgamated Bean Coffee Trading Company Ltd (ABCTCL) in 1993 to export coffee and the company became the second largest exporter of coffee from India. </li><li>The first store of CCD was opened in Brigade Road of Bengaluru that charged Rs. 100 for a coffee and an hour of Internet surfing. The first launch of the CCD proved successful as it happened during the time when Bengaluru was turning into an IT and lifestyle haven. This environment helped Siddhartha grow his fortune quickly. </li></ul>

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L&T takes over Mindtree in Indian IT’s first-ever hostile acquisition

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Amazon aggregator Thrasio will invest half a billion dollars in buying Indian brands

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Unknown Facts About Cafe Coffee Day VG Siddhartha

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