Latest news with #India-dedicated
Time of India
28-05-2025
- Business
- Time of India
TCS CEO's pay hike; L Catterton's India fund
TCS CEO's pay hike; L Catterton's India fund Also in the letter: TCS paid CEO K Krithivasan Rs 26.5 crore in FY25 Breakdown: Base salary: Rs 1.4 crore Rs 1.4 crore Benefits, allowance and prerequisites: Rs 2.13 crore. Rs 2.13 crore. Commissions: Rs 23 crore. Rs 23 crore. Pay ratio to the median employee remuneration: 329.8. For employees: TCS awarded annual increments ranging from 4.5% to 7% for its workforce of six lakh employees. Top performers received double-digit increases. Factoring in promotions and other event-based compensation, total pay hikes varied between 5.5% and 7.5%. Employees based outside India received wage hikes between 1.5% and 6%. Also Read: AI ahead: Headcount Also Read: L Catterton to raise $600 million for its first India-dedicated fund Driving the news: More details: IFC will invest $30 million in L Catterton India Fund-I, with an additional $30 million allocated for co-investment. Last March, former Hindustan Unilever chief executive Sanjiv Mehta partnered with L Catterton to establish this India-focused fund. In July, ET reported that L Catterton had applied to the Securities and Exchange Board (Sebi) of India to register the India-focused fund as a Category II alternative investment fund (AIF). Tell me more: L Catterton aims to make seven to nine investments from the India-focused fund, with cheque sizes ranging from $25 million to $150 million. The fund will primarily focus on companies in the food and beverages, consumer services (including healthcare, retail, and restaurants), and consumer brands sectors, according to IFC. Future outlook: Also Read: Unacademy founders' shift to AirLearn, Jain's offline role are strategic: Gaurav Munjal to employees Driving the news: No worries: Tell me more: Reality check: Also Read: Myntra secures Rs 1,063 crore funding from Singapore-based parent entity Driving the news: Yes, and: Expansion play: On May 19, Myntra launched Myntra Global, offering local brands to the Indian diaspora in Singapore as part of its international expansion. Partner brands will export products from their inventory in India, with shipping times ranging from four to seven days. Additionally, the company is racing to enter the evolving quick delivery space in India, with M-Now. It is expanding beyond apparel to include accessories, home furnishings, and makeup. Google paid Neal Mohan $100 million to stop him from joining Twitter What's the news: Money matters: Trying their luck: IT major TCS paid Rs 26.5 crore in remuneration to CEO and MD K Krithivasan in FY25. This and more in today's ETtech Top 5.■ Unacademy founders' 'strategic' shift■ Myntra gets expansion capital■ Google's $100m offer to Neal MohanK Krithivasan, CEO, TCSTata Consultancy Services (TCS) paid its chief executive, K Krithivasan, Rs 26.5 crore in the financial year 2025 , marking a 4.6% increase from FY24, according to the company's latest annual total compensation rose from Rs 25.45 crore in the previous year, following his appointment as CEO and MD in N Chandrasekaran stated in the report that TCS aims to expand its workforce with a substantial number of AI agents alongside human employees.'IT and business services are moving toward autonomous operations. The rise of autonomous robots and AI agents promises a future of 'dark factories' and AI-assisted enterprise functions,' he said in a letter to shareholders in TCS' annual report.: The report added that TCS's headcount reached 607,979 in FY25, reflecting an increase of 6,433 individuals compared to FY24, following consecutive fiscal periods of workforce Mehta, executive chairman, L Catterton IndiaL Catterton, the LVMH-backed private equity firm, is raising $600 million for its inaugural India-focused fund, according to a disclosure by the International Finance Corporation (IFC).The move could mark the first instance of a global private equity firm launching an investment vehicle specifically for the Indian market.L Catterton will enter a market already populated by consumer-focused investors, such as A91 Partners, alongside early-stage firms like Fireside Ventures and DSG Consumer Munjal and Roman Sain, founders, UnacademyUnacademy cofounder Gaurav Munjal wrote to employees on Wednesday clarifying that his increased involvement in the company's new platform, AirLearn, alongside cofounder Roman Saini, and incoming CEO Sumit Jain's focus on the offline business, are "strategic moves."The memo followed ET's Wednesday newsbreak that Munjal and Saini plan to step back from their executive roles to focus on the internal email, Munjal stated that he and Saini are now devoting 'substantial time and resources' to the language learning portal AirLearn, while Jain is 'channelling efforts' to strengthen the offline business.'I want to be clear – there's no cause for concern. Unacademy is performing exceptionally well. We've successfully completed appraisals across the board, and our burn rate is significantly reduced. Our balance sheet remains robust and healthy,' Munjal wrote, looking to quell layoff concerns triggered by which competes with Duolingo in the consumer-facing language learning space, has entered talks with potential investors. Some of Unacademy's existing shareholders may participate. However, this development has rankled certain board members, who believe the company should focus more aggressively on addressing core business challenges. Once valued at $3.4 billion , Unacademy has come down from its pandemic-era highs. In FY24, it reported revenue of Rs 840 crore while trimming its losses to Rs 631 crore Nandita Sinha, CEO, MyntraOnline fashion retailer Myntra has secured a fresh capital infusion of Rs 1,063 crore from its parent entity, FK Myntra Holdings, amid its expansion into to regulatory filings, Myntra Designs has allotted 19,43,753 equity shares to its Singapore-based parent at an issue price of Rs 5,465.23 each on a rights basis to raise this total Myntra, Flipkart's parent company, invested $81 million in November 2024 and $338 million in March 2024 into the fashion faces fierce competition in the crowded online fashion space from rivals like Amazon and the Chinese company Shein, which has returned to the Indian market after a five-year Mohan, CEO, YouTubeYouTube chief executive Neal Mohan's recent appearance on Nikhil Kamath's podcast has revived discussion around long-standing rumours that Google paid him $100 million a decade ago to prevent him from joining Twitter (now X).During the podcast, Kamath said, 'I remember reading this thing about Google offering you $100 million not to quit. Not today, but 15 years ago, which was a lot of money.' Mohan did not deny the played a pivotal role in Google's advertising and YouTube's product teams in 2011. Reports indicated that he was offered $100 million in restricted stock units, set to vest over several offer was made when Twitter was attempting to recruit him as chief product officer, led by David Rosenblatt, a board member of the microblogging site now known as X. He was Mohan's former was reported that Twitter also attempted to poach Sundar Pichai, who was then leading Chrome and Chrome OS at Google. The search giant retained him with a $50 million stock grant.
Time of India
28-05-2025
- Business
- Time of India
Private equity firm L Catterton to raise $600 million for its first India-dedicated fund
L Catterton , a private equity firm backed by LVMH, the world's largest luxury goods conglomerate, is raising $600 million for its debut India-focused fund , according to a disclosure by the International Finance Corporation (IFC), the World Bank Group's private sector investment arm. This may mark the first time a global private equity firm is launching an investment vehicle dedicated to India. As per the disclosure, IFC will invest $30 million in the L Catterton India Fund-I with an additional co-investment amount of $30 million. In March last year, former Hindustan Unilever (HUL) chief executive Sanjiv Mehta teamed up with L Catterton to launch an India-focused investment vehicle, according to an official statement made at the time. Mehta, who headed HUL, India's largest FMCG company, for ten years until 2023, formed an India consumer sector-focused joint venture with L Catterton to develop a new investment vehicle. ET had reported last July that L Catterton had submitted an application with the Securities and Exchange Board of India (Sebi) to register the India-focused vehicle as a Category II AIF ( alternative investment fund ). The vehicle will be led by Mehta, the firm's executive chairman for India, along with Anjana Sasidharan, partner and head of India investments, and the existing L Catterton Asia leadership team headed by managing partner Scott Chen, who has been in the role since 2019. L Catterton plans to make seven to nine investments from this India-dedicated fund, with cheque sizes ranging from $25 million to $150 million. According to IFC, the fund will primarily back companies across segments such as food and beverages, consumer services (including healthcare, retail and restaurants), and consumer brands. So far, L Catterton has invested in Indian companies through its Asia fund. The firm's portfolio includes beauty brand Sugar Cosmetics, healthy snacking startup Farmley (where it led a $40 million round last month), petcare brand Drools, which became a unicorn following a minority investment from Nestle SA, and Impresario, the parent company of restaurant chain Social, founded by Riyaaz Amlani. L Catterton has also invested in Jio Platforms, owned by Reliance Industries . The development was first reported by online news publication The Arc. With its India-focused fund, L Catterton will step into a market already home to consumer-focused investment firms like A91 Partners, as well as early-stage backers such as Fireside Ventures, DSG Consumer Partners, and others. This fund raise trend also reflects the broader dynamics in the Indian investment ecosystem. In 2024, Bluestone investor IvyCap Ventures, former KKR India CEO Sanjay Nayar's Sorin Investments, and climate-focused Avaana Capital also announced sizable fund closures. More recently, A91 Partners closed its largest-ever fund with a $665 million corpus, while venture capital fund Accel India, an early backer of Flipkart and Swiggy, also closed a $650 million fund. ET had reported on April 25 that Peak XV Partners is set to raise its first independent fund after its split from Silicon Valley firm Sequoia Capital with a target corpus of $1.2-1.4 billion.
New Indian Express
27-05-2025
- Business
- New Indian Express
US-based venture capital firm Expert Dojo to invest $100k each in 10 Indian startups
BENGALURU: US-based early-stage venture capital firm Expert Dojo on Tuesday launched an India-dedicated startup cohort. As part of this, it will invest $100,000 each in over 10 startups across sectors such as technology, AI, EV and B2B. The aim of this cohort is to support Indian founders facing challenges like limited access to global capital, lack of international mentorship, and restricted market reach, the firm said. This launch follows Expert Dojo's earlier announcement of a $15 million India-focused fund, with plans to deploy in 20–25 early-stage startups by FY 2026. While the fund is sector-agnostic, it will focus on high-potential areas like fintech, SaaS, B2B, and AI, helping founders scale beyond borders. This cohort will help early-stage startups strengthen their business models, enter new markets, and move quickly toward raising their next funding round.
Economic Times
23-05-2025
- Business
- Economic Times
Net FDI inflows sink 96% to record low
Agencies FDI (Image for representation) Net foreign direct investments (FDI) into India dropped 96.5% in FY25, as a red-hot IPO market provided multi-bagger exits to long-term investors in companies such as Hyundai Motor and Swiggy, while several local firms invested heavily overseas to benefit from a global supplychain rebalancing. Net FDI in the previous fiscal year amounted to $353 million, lowest on record, compared with $10 billion in FY24, showed the Reserve Bank of India (RBI) data, published late Wednesday in its latest monthly bulletin. 'Net FDI moderated… reflecting the rise in net outward FDI and repatriation FDI,' the RBI inflows of 'stable' FDI were 86% lower than the 'volatile' portfolio flows, which totalled $2.67 billion for the year, according to the FDI represents the difference between gross FDI and outward direct investments by Indian firms, along with strategic investment withdrawals and repatriation by overseas entities, such as private equity investors, venture capitalists, and India-dedicated funds. Increased repatriation is one of the reasons for the decline in net FDI, with $49 billion being withdrawn from India in FY25, compared with $41 billion the previous year. The fiscal year provided exits to investors such as Alpha Wave Global and Partners Group in bulge-bracket initial share sales of companies such as Swiggy and Vishal Mega Mart.'PE/VC exit strategies have evolved, with a total of $26.7 billion realised, representing a 7% year-on-year increase,' according to a report by the Indian Venture Capital and Alternate Capital Association (IVCA) and report highlighted that open market exits dominated, while PEbacked IPOs gained momentum, supported by a capital market offering robust opportunities for investor exits. Hyundai lowered its stake from 100% to 82.5% in its Rs 27,870 crore listing with promoters taking back home the amount IPO fetched, while a top foreign investor in Swiggy has made more than $2 billion after the IPO. Telecom major Singtel also sold its stake in Airtel while the proceeds of Tobacco major BAT's stake sale in ITC in March 2024 likely reflected in the FY25 repatriation benchmark indices had surged to a record late September last year, and several mega IPOs were lined up coinciding with the surge in equity gauges. REFLECTS MATURITY The report further indicated that this trend signals a 'mature market,' allowing foreign investors to smoothly enter and exit, which 'reflects positively on the Indian economy.' Gross inward FDI experienced robust growth of 13.7%, reaching $81 billion during 2024-25, as per RBI data. This investment remains concentrated in sectors such as manufacturing, financial services, electricity and energy, and communication services, which collectively account for more than 60% of total FDI, the RBI local firms increased their overseas direct investments to $29 billion, up from $17 billion last year. Experts suggest that this trend reflects an increase in overseas investments by Indian firms in a globalised economy
Time of India
23-05-2025
- Business
- Time of India
Net FDI inflows sink 96% to record low
Net foreign direct investments ( FDI ) into India dropped 96.5% in FY25, as a red-hot IPO market provided multi-bagger exits to long-term investors in companies such as Hyundai Motor and Swiggy , while several local firms invested heavily overseas to benefit from a global supplychain rebalancing. Net FDI in the previous fiscal year amounted to $353 million, lowest on record, compared with $10 billion in FY24, showed the Reserve Bank of India ( RBI ) data, published late Wednesday in its latest monthly bulletin. 'Net FDI moderated… reflecting the rise in net outward FDI and repatriation FDI,' the RBI said. Net inflows of 'stable' FDI were 86% lower than the 'volatile' portfolio flows, which totalled $2.67 billion for the year, according to the RBI. Net FDI represents the difference between gross FDI and outward direct investments by Indian firms, along with strategic investment withdrawals and repatriation by overseas entities, such as private equity investors, venture capitalists, and India-dedicated funds. Increased repatriation is one of the reasons for the decline in net FDI, with $49 billion being withdrawn from India in FY25, compared with $41 billion the previous year. The fiscal year provided exits to investors such as Alpha Wave Global and Partners Group in bulge-bracket initial share sales of companies such as Swiggy and Vishal Mega Mart. 'PE/VC exit strategies have evolved, with a total of $26.7 billion realised, representing a 7% year-on-year increase,' according to a report by the Indian Venture Capital and Alternate Capital Association (IVCA) and EY. The report highlighted that open market exits dominated, while PEbacked IPOs gained momentum, supported by a capital market offering robust opportunities for investor exits. Hyundai lowered its stake from 100% to 82.5% in its Rs 27,870 crore listing with promoters taking back home the amount IPO fetched, while a top foreign investor in Swiggy has made more than $2 billion after the IPO. Telecom major Singtel also sold its stake in Airtel while the proceeds of Tobacco major BAT's stake sale in ITC in March 2024 likely reflected in the FY25 repatriation numbers. India's benchmark indices had surged to a record late September last year, and several mega IPOs were lined up coinciding with the surge in equity gauges. REFLECTS MATURITY The report further indicated that this trend signals a 'mature market,' allowing foreign investors to smoothly enter and exit, which 'reflects positively on the Indian economy .' Gross inward FDI experienced robust growth of 13.7%, reaching $81 billion during 2024-25, as per RBI data. This investment remains concentrated in sectors such as manufacturing, financial services, electricity and energy, and communication services, which collectively account for more than 60% of total FDI, the RBI said. Additionally, local firms increased their overseas direct investments to $29 billion, up from $17 billion last year. Experts suggest that this trend reflects an increase in overseas investments by Indian firms in a globalised economy
