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Time of India
06-06-2025
- Business
- Time of India
Cremica diversifies into value-added beverages, eyes HoReCa & retail domination
Cremica Foods Ltd , the maker of condiments, spreads, sauces, and bakery products, is further expanding its offerings with the launch of fruit crushes in 10 new variants, Akshay Bector, CMD, Cremica Food Industries, told ETRetail . The brand has also commissioned a new line in its food park in Una, Himachal Pradesh, with a production capacity of 12,000 tons per annum to produce the newly launched products. Explaining the reason behind betting big on the beverages segment, he said, "We saw a significant gap in the market in terms of the quality of the products, and simultaneously, we were planning to occupy a significant space in the premium beverage segment. It will further help us expand our addressable market in the future and foray into the packaged beverages space." "Previously, we were offering these products in a small way as we did not have adequate manufacturing capacity, and many of these products need a specialized line, which has just been commissioned. So, we re-designed the product and re-launched it in the market," he further added. These crushes, which fall into the category of value-added beverages , can be used to make milkshakes, desserts, and mocktails, to name a few. "Currently, we have launched it in the HoReCa segment along with a small foray into the retail segment. Over the next two years, we plan to expand further in retail," he asserted. Apart from this, the brand is in the process of commissioning two more lines and expects them to be functional by the end of Q2. "We are developing these lines to make liquid sauces, and they can even be modified and served for other products if required," he explained. "Along with this, we are also putting up a line for packaging jams and pickles - a category which we will be re-entering this year," he further added. From the next financial year onwards, the brand plans to export these products along with offering them in retail in the Indian market. The brand, which grew double-digit last fiscal year, is currently in the process of filing DHRP.
NDTV
14-05-2025
- Automotive
- NDTV
Greaves Electric Gets SEBI Greenlight To Float IPO
Greaves Electric Mobility (GEML) has received the green signal from the Securities and Exchange Board of India (SEBI) to issue an IPO. Greaves will become the third EV-only manufacturer to issue an IPO after Ola Electric and Ather Energy. Simple Energy too plans to roll out an IPO in 2027. The company submitted its draft Red Herring Prospectus (DHRP) in December 2024 and SEBI issued the observation letter on May 8, 2025. The company plans to raise Rs. 1,000 crore through fresh issue of shares. Its promoters (Greaves Cotton) and current investors Abdul Lateef Jameel Green Mobility Solutions DMCC look to sell up to 18.94 crore shares through offer for sale (OFS). At present, Greaves Cotton holds 62.5 per cent stake in Greaves Electric and the rest is held by Abdul Lateef Jameel Green Mobility Solutions. Greaves Electric is a subsidiary of Greaves Cotton and it has three fully electric brands on sale in India - Ampere for two-wheelers, Ele for e-rickshaws and Greaves 3W for three-wheelers. Post IPO, Greaves Electric plans to use the amount for various purposes. The company will allocate Rs. 375.27 crore for R&D at its Bengaluru tech centre. Another Rs. 82.9 crore will be used to strengthen in-house battery assembly. GEML will also allocate Rs. 58.15 crore towards increasing manufacturing capacity at its plants in Ranipet, Greater Noida and Toopran. The company plans to acquire MLR Auto fully and plans to invest Rs. 73.67 crore towards the same. In FY2024, Greaves Electric Mobility experienced a substantial decline in its revenue from operations, which fell to Rs. 611.8 crore-a 45.5 per cent drop compared to the previous year. This downturn was largely driven by a sharp reduction in electric two-wheeler sales volume. Electric two-wheelers, which previously made up about 67 per cent of the company's total revenue, saw their sales plummet to 47,820 units, less than half of the 109,000 units sold in FY23. Conversely, the company witnessed growth in its electric three-wheeler segment, with volumes increasing to 13,470 units from 6,870 units the prior year.
