Virat Kohli Invests INR 40 Cr in Agilitas Sports to Fuel Sporting Goods Expansion
You're reading Entrepreneur India, an international franchise of Entrepreneur Media.
Indian cricket icon Virat Kohli has acquired a 1.94% stake in Bengaluru-based Agilitas Sports, investing INR 40 crore (~USD 4.7 million) in a strategic move that strengthens his expanding business portfolio.
The funds were raised through the allotment of 3,61,611 Class 2 Compulsorily Convertible Preference Shares at INR 1,106 each, as per regulatory filings with the Registrar of Companies (RoC).
The investment is part of a larger funding round for Agilitas Sports, which also includes INR 3 crore from cricketer Abhishek Sharma and SMLINE Ventures. The fresh infusion values the company at approximately INR 2,058 crore (~USD 242 million) post-money and takes its total fundraising to over INR 600 crore.
Founded in 2023 by Abhishek Ganguly, the former Managing Director of Puma India, Agilitas Sports is building a full-stack ecosystem in the sporting goods sector—covering manufacturing, licensing, and retail. Kohli's association marks a pivotal shift, especially after his high-profile exit from an INR 110 crore Puma India endorsement earlier this year to align with Agilitas.
Agilitas' offerings span in-house brands like One8—Kohli's lifestyle label—and licensing rights for global sportswear brand Lotto in India and Australia. The company recently strengthened its manufacturing base by acquiring Mochiko Shoes, a key supplier for brands like Adidas, Puma, New Balance, and Skechers.
Post-investment, Mauritius-based Infinity Direct Holdings remains the largest stakeholder at 37.73%, followed by Ganguly at 18.26%, Nexus Venture Partners at 9.16%, and Kohli and Yuvraj Singh at 1.94% and 0.51%, respectively.
With Kohli's brand value, strategic input, and investment, Agilitas aims to boost its "Make in India" manufacturing ethos and aggressively scale operations both domestically and internationally, positioning itself as a formidable player in the global sporting goods arena.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Yahoo
6 minutes ago
- Yahoo
Leapmotor Raises Full-Year Target After Sales Hit Record
Zhejiang Leapmotor Technology has lifted its full-year sales target after swinging to a first-half profit on surging demand and a ramped up push into overseas markets. Co-President Michael Wu also says the Chinese EV maker's strategy won't be affected by a government crackdown on price wars. He speaks with Yvonne Man and David Ingles on "Bloomberg: The China Show." Sign in to access your portfolio
Yahoo
6 minutes ago
- Yahoo
Asian shares are mixed in quiet trading as traders await cues from the Fed
BANGKOK (AP) — Shares were mixed in Asia on Tuesday after Wall Street held near its records, with traders awaiting fresh cues about interest rates from the U.S. Federal Reserve. Tokyo's Nikkei 225 index lost 0.2% to 43,579.50 as market heavyweight SoftBank Group Corp. fell after it announced it was taking a $2 billion stake in U.S. computer chip maker Intel. In Hong Kong, the Hang Seng shed 0.2% to 25,125.17, while the Shanghai Composite index edged less than 0.1% higher, to 3,730.71. Australia's S&P/ASX 200 declined 0.7% to 8,894.90. In Seoul, the Kospi gave up 1% to 3,145.82. Taiwan's Taiex fell 0.5% and the Sensex in India was up 0.3%. In Bangkok, the SET also gained 0.3%. This week will bring updates from the head of the Federal Reserve and from some of the biggest U.S. retailers. On Monday, indexes mostly fell in Europe in their first trading after Trump's inconclusive summit meeting with Russian President Vladimir Putin on Friday about the war in Ukraine. Trump met with Ukrainian President Volodymyr Zelenskyy on Monday, but that meeting finished after U.S. markets were closed. The S&P 500 barely budged and fell by less than 0.1%, closing at 6,449.15. It was its first loss after it set an all-time high for three consecutive days. The Dow Jones Industrial Average slipped 0.1% to 43,533.86, and the Nasdaq composite edged up by less than 0.1% to 21,629.77. Novo Nordisk's stock that trades in the United States rose 3.7% after the Danish company said U.S. regulators approved its Wegovy drug as part of a treatment for a liver disease found in many overweight and obese people. Soho House, a membership club with locations around the world, jumped 14.9% after announcing a deal where an investor group led by hotel-operator MCR would pay $9 in cash for its shares. Several of the country's largest retailers, meanwhile, were mixed ahead of profit reports scheduled for later in the week. Home Depot, which will report on Tuesday, slipped 1.2%. Target rose 1.9% ahead of its report on Wednesday, and Walmart added 0.7% before its report on Thursday. They, along with companies like Estee Lauder and Ross Stores, could offer a look at how different types of U.S. households are holding up when the job market seems to have relatively few firings but also fewer hirings. On Friday, the focus will swing to Jackson Hole, Wyoming, which has been the home in past years of many big policy announcements from the Fed. There, Fed Chair Jerome Powell will give a speech, and investors are hoping to hear how his mind has changed about interest rates since he said last month that he wanted to wait longer before cutting interest rates. The Fed's twin jobs are to keep the job market healthy while also maintaining a lid on inflation, and helping one can often hurt the other in the short term. Lower rates can boost the economy by making it cheaper for U.S. households and businesses to borrow to buy houses, cars or equipment, for example, but they also risk worsening inflation. Inflation updates have been mixed, but traders are expecting the Fed to cut its main interest rate for the first time this year at its next meeting in September. The hope is that Powell could give a nod to that. Expectations for cuts to interest rates have pulled Treasury yields lower lately, and they largely remained there on Monday. The yield on the 10-year Treasury held at 4.33%, where it was late Friday. In other dealings early Tuesday, U.S. benchmark crude oil lost 44 cents to $62.26 per barrel. Brent crude, the international standard, slipped 42 cents to $66.18 per barrel. The U.S. dollar fell to 147.61 Japanese yen from 147.88 yen. The euro was unchanged at $1.1663. ___ AP Business Writer Stan Choe contributed. Elaine Kurtenbach, The Associated Press
CNBC
8 minutes ago
- CNBC
How India and the GCC Are Shaping the Next Big Investment Frontier
Could this be the most important investment corridor of the decade? Al Mal Capital's Faisal Hasan outlines his bull case for the India-GCC investment partnership.
