Patel Retail, a supermarket chain, has initiated the process of raising capital through an initial public offering (IPO) by filing preliminary papers with the capital markets regulator, Sebi. The IPO comprises a combination of a fresh issue of 90.18 lakh shares and an offer for sale (OFS) of up to 10.02 lakh shares of promoters, […]
The fast-moving consumer goods sector is anticipated to experience sluggish growth until the September quarter of 2024, as per a report from Kantar, a data, insights, and consulting firm. The uncertain outlook for the agricultural sector, coupled with the upcoming general elections, is expected to limit the consumption of FMCG products. Kantar Worldpanel’s FMCG pulse […]
Cities across India are witnessing the early summer season with scorching heat and higher-than-usual temperatures. The change in season has got both, FMCG players as well as Indian kiranas to rush and stock summer-centric products. A recent survey reveals that Maharashtra is the only state where retailers are witnessing equal sales for national and local […]
The Directorate General of GST Intelligence (DGGI) has initiated action against many fast-moving consumer goods (FMCG) companies for alleged tax fraud. According to a report, DGGI filed notices and investigative intimation letters to FMCG businesses such as ITC, Pepsico, Prataap Snacks, Balaji Wafers, Guiltfree Industries and Sarveshwar Foods about this. These companies are suspected of […]
Gopal Snacks has revealed that it will launch its initial public offering (IPO), which got regulatory permission earlier this year, on 6 March. The edition will be available for public subscription until 11 March. The price range for the public offer, which is essentially an offer for sale (OFS) of up to Rs 650 crore, will be revealed on […]
Reliance Consumer Products (RCPL), the FMCG arm and wholly-owned subsidiary of Reliance Retail (RRVL), stated on Wednesday that it has partnered with Sri Lanka-headquartered Elephant House to manufacture, market, distribute and sell beverages under the Elephant House brand across India. As per a company release, this association will not only help the Reliance company bolster […]
The Bank of Baroda (BoB) in a recent report has said that increased shipping costs and delays in shipments due to the Red Sea crisis is a major headwind for the textile sector. The report titled ‘Corporate performance: Q3-FY24’ stated that for the textiles sector, festive demand momentum was short-lived as discretionary demand continues to […]
Adani Wilmar has appointed Jignesh Shah as the new head of media and digital marketing. Shah, with over 20 years of experience, including a decade at Adani Wilmar, will be responsible for strategic promotion across the company’s flagship brand, “Fortune,” and other popular brands in the oil and food portfolios. Alongside this role, Shah will […]
FMCG major Emami reported an 11.88 per cent increase in consolidated profit after tax to Rs 260.65 crore for the December quarter of 2023-24, aided by improved margins due to lower input prices. According to the company’s regulatory filing, the business had a net profit of Rs 232.97 crore in the October-December fiscal year 23. […]
Patanjali Foods on Thursday reported a 19.3 per cent year-on-year (YoY) drop in net profit for the quarter ended December to Rs 217 crore. Revenue from operations fell 0.2 per cent to Rs 7,911 crore. Sequentially, the topline rose just 1.1 per cent, while the bottomline dropped by nearly 15 per cent. The primary food […]
