RSB Retail to file for Rs 1,500 crore IPO soon
RSB Retail India, previously known as RS Brothers Retail India, is preparing to launch an IPO to raise approximately ₹1,500 crore. The South India-based multi-brand retail chain will soon file its DRHP with Sebi. The IPO will consist of both a fresh share sale and an offer for sale from promoters and existing investors.
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The Hindu
5 minutes ago
- The Hindu
Prof. Sandeep Shukla appointed as new director of IIIT Hyderabad, succeeding Prof. P.J. Narayanan after 12-year tenure
The International Institute of Information Technology, Hyderabad (IIITH), announced a change in leadership. Prof. P.J. Narayanan stepped down as Director after a 12-year tenure. Prof. Narayanan will hand over the charge to Prof. Sandeep Shukla, who will assume office as the institute's new Director. Prof. Sandeep Shukla, an expert in cyber-physical systems, formal verification, and cyber security, joins IIITH from the Indian Institute of Technology Kanpur, where he served as Professor in the Department of Computer Science and Engineering and co-director of the National Interdisciplinary Centre for Cyber Security and Cyber Defence of Critical Infrastructure. He is a Fellow of IEEE and has received numerous awards for his contributions to research and education. Speaking on the transition, Prof. Narayanan said, 'Leading IIIT Hyderabad for over 12 years has been a great honour. During this period, the institute has experienced extraordinary growth, doubling our student admissions, graduations, and faculty numbers. Even more significant is the expansion of our research output, reflected in a substantial increase in publications, patents, and innovative solutions. Prof Shukla added, 'One of my priorities will be to build a world-class cybersecurity research center extending the existing strengths already developed here. Other areas I would like to develop are cybercrime investigation research methodologies and tools, Development of Web3 and Blockchain-based systems, use of GenAI and agentic AI in cybersecurity, 5G and 6G communication and resilient telecom infrastructure, new age learning and teaching research with emerging technologies, technology policy research, and more.'
Mint
5 minutes ago
- Mint
Global Companies Tapping Into India's Expanding Market
India's large consumer base and significant pool of talent are contributing to the success of US listed companies, making them a noteworthy investment opportunity. Consider iPhone-maker Apple, one of the largest companies in the world with a market capitalisation of $3.4 trillion. As more and more Indians purchase Apple's phones, computers, tablets and watches, the company's revenues in India are crossing records every quarter. Revenues have grown more than 30% annually in the two years until FY 2024, to around $8 billion last year. That number is expected to exceed $10 billion when the results are released for the 2024-2025 financial year. With this scale, Apple's India business is already larger than some of the country's largest listed consumer companies. Hindustan Unilever, the major fast-moving consumer goods company listed on Indian stock exchanges, had revenues of $7.5 billion in the year ending March 31 2024, a 5% increase from the previous year. Avenue Supermarts, a supermarket chain operator which relies directly on retail consumers, saw its revenues grow by 18% last year to around $ 6 billion. In fact, Apple India is fast catching up to India's major automakers, and is growing much faster than them. Mahindra & Mahindra's revenues grew 15% in FY 24 to $16.5 billion — half of Apple India's growth rate - while Maruti Suzuki India's revenues went up by 20% to around $17 billion. Analysts expect the Silicon Valley-based company to continue growing in India, with revenues reaching $40 billion in less than a decade, according to Morgan Stanley. In short, Apple provides a way to participate in the global aspirations and buying power of Indians. But there's one aspect to note: its stock isn't listed in India. In today's deeply inter-connected global economy, the benefits of India's growth are not limited to Indian listed companies. In fact, global companies like Apple are capturing a significant amount of value from this growth. Apple shares have risen 30% on the Nasdaq stock exchange in the last three years, and close to 100% in the last 5 years. And now, Indian investors can participate in this growth, with fractional investments as small as ₹ 1. 'Magnificent 7' Companies Finding Success in India Apple is just one among the 'Magnificent 7' — a group of influential stocks in the US market — that is benefiting from India's growing economy. Others in the group including Google parent Alphabet, Microsoft, Amazon and Meta Platforms, formerly Facebook, have also established large businesses in India. Google and Meta Platforms dominate India's $9 billion-digital advertising market. This business is expected to grow at one of the fastest rates globally, given the significant internet usage among Indians. Already India's 800 million internet users are more than double the number of internet users in the US. Google, including its flagship video platform YouTube, made $3.65 billion from its digital ads business in India in FY 24, nearly double of what it earned in 2021. Similarly, Meta, which owns Instagram, Facebook and WhatsApp, more than doubled its ad revenues from India to around $2.7 billion in FY 24. The overall India revenues for these companies are higher, as they own several other businesses catering to the Indian audience, such as digital payment platforms like Google Pay and WhatsApp Pay. Alphabet's shares have doubled while Meta shares have quadrupled in the last three years on the Nasdaq stock market. Another large beneficiary of India's growth is e-commerce firm Amazon. Its marketplace business, which sells everything from shampoo to air-conditioners to consumers, has grown by 56% in three years to $3 billion in FY 24. Meanwhile, Amazon Web Services, which provides cloud computing, storage and online database services to India's small businesses, has grown by 167% in the three years through last year. Including its other major India entities, Amazon Wholesale and Amazon Retail, the Seattle-based company's India revenues were $5.3 billion in FY 2024. On the Nasdaq stock exchange, its shares have gained 73% over the last three years through July 31. These companies have announced plans to invest more in India with a view to their future prospects. Earlier this year, Microsoft CEO Satya Nadella said it would invest $3 billion, reportedly its largest ever-investment in India, over the next two years to build its Azure cloud services and artificial intelligence (AI) capacity. Microsoft's India unit reported revenues of $2.7 billion last year, a 50% increase from three years earlier. Its stock has gained 90% over the last three years, and a whopping 160% over the five years ending July 31. Benefiting from India's Talent Pool It's not only consumers, but also India's vast pool of talented human capital that is boosting the fortunes of US-listed technology companies. Demand for information-technology, outsourcing and related services increased, especially after the Covid-19 pandemic, as companies worldwide sought to digitise their operations. Accenture Solutions, tied to NYSE-listed IT solutions-provider Accenture Plc, has grown to become one of the largest foreign companies operating in India. Its revenues grew by 70% in the post-pandemic period, to nearly $8 billion in FY 2024. Other American IT and IT-es companies that have built substantial businesses in India and are growing, include Dell, IBM, Adobe and Cisco Systems. Then there are companies like Cognizant Technology Solutions and Genpact, which started out as Indian companies offering outsourcing and related IT services, but have grown to become global companies listed on US stock exchanges. A large majority of their employees are based in India. Cognizant, listed on the Nasdaq stock exchange, earned revenues of nearly $20 billion in 2024, while NYSE-listed Genpact had nearly $5 billion revenue. These stocks offer diversification to India-based investors from India-listed IT companies like Tata Consultancy Services and Infosys. The list of US-listed companies that are earning billions from the growing Indian market is extensive. Hotel chain Marriott crossed $1 billion in revenues in India last year, and has plans to expand into India's smaller towns. Honeywell, a Fortune 500 company, hopes to exceed $1 billion in revenues this year while the American beverage-maker PepsiCo has already done so. Financial services companies like American Express and PayPal are also expanding fast, as are media and entertainment businesses like Netflix. Until some years ago, Indian investors lacked the opportunity to invest in these stocks as they could not easily access the US market. But now with platforms like Appreciate, they can partake in India's growing presence on the global stage. To know more about how to get started with global investing and US ETFs, click here. The article has been written by Subho Moulik, Founder & CEO, Appreciate. Disclaimer: Investments in securities markets are subject to market risks. Read all the related documents carefully before investing. The securities quoted are exemplary and are not recommendatory. Note to the Reader: This article is part of Mint's promotional consumer connect initiative and is independently created by the brand. Mint assumes no editorial responsibility for the content.
Mint
35 minutes ago
- Mint
Rupee rises with foreign banks keeping up dollar sales, confounding market
By Dharamraj Dhutia and Nimesh Vora MUMBAI, - The Indian rupee inched higher on Thursday as persistent dollar selling by foreign banks over the last few days that supported the currency and puzzled traders. The rupee was at 86.9750 to the U.S. dollar at 11:05 a.m. IST, up from 87.0650 on Wednesday. Foreign banks were on the offer in dollar/rupee again, extending the pattern seen over the past two sessions, traders said. The persistence of these flows has confounded markets regarding their origin, with many doubting they were exporter-related. One banker noted that portfolio inflows into equities and debt have been tepid, suggesting flows from custodian clients were unlikely. While the market was expecting the rupee to be rangebound, dealers said position adjustments or one-off large trades were the more probable drivers. That the rupee "is managing to hold up despite Jackson Hole event and the U.S. tariff overhang is surely surprising to many," said a currency trader at a Mumbai-based bank. U.S. Federal Reserve Chair Powell is set to speak on Friday at the Jackson Hole symposium where his remarks will be closely watched. His previous remarks at the meeting had previously shifted market expectations. Meanwhile, the August 27 deadline on which the additional 25% U.S. tariffs on Indian goods is implemented looms. If implemented, it would pose a fresh negative for the rupee. The currency last week had remained largely weak, making a low of 87.73. After giving good opportunity to exporters in the last week it is the turn of importers who are getting an opportunity to hedge their near-term payables, Anil Kumar Bhansali, head of treasury at Finrex Treasury Advisors, said. This article was generated from an automated news agency feed without modifications to text.
