Latest news with #RajivBatra
Mint
13-08-2025
- Business
- Mint
Talent density and family businesses making PE buyouts exciting: ChrysCapital's Rajiv Batra
Bengaluru: India's consumer industry is seeing more family-run businesses achieving scale, which is resulting in attractive buyout opportunities cropping up for private equity firms, a senior executive at ChrysCapital told Mint. Moreover, generational wealth and businesses are exchanging hands within family-run businesses, prompting many entrepreneurs to sell parts of their business and creating more instances for buyouts, said Rajiv Batra, director and consumer sector lead at ChrysCapital, said. 'We see the share of buyouts increasing in the next 5-7 years. As long as there are strong underlying trends and a good team, we will evaluate both minority investments as well as buyouts in the space." He added that the availability of talent—especially those that are being groomed by large multinational companies and Indian conglomerates—is on the rise. 'This gives us the confidence that if a buyout or control deal is available and we get the right talent, it's worth pursuing." ChrysCapital's thesis comes on the heels of its acquisition of desserts chain Theobroma for an 85% stake, marking its first buyout in the consumer sector, it said on Wednesday. It is also the firm's first transaction in the consumer foods space. The deal reportedly values the Mumbai-based quick-service restaurant (QSR) chain at ₹2,400 crore. Batra declined to comment on the valuation. Currently, the firm has no plans of drastically changing how the patisserie chain operates, given that it believes that Theobroma is at the centre of the Western dessert opportunity in India. 'With the existing management team as well as the founders with their 15% stake, we should be able to work together to create strong outcomes for everyone in the coming year," said Batra. The PE firm previously invested in Wow Skin Care and kids' retailer FirstCry in the consumer segment. In September last year, Mint was the first to report that ChrysCapital was among the three private equity firms to have submitted binding bids to acquire Theobroma Foods. In March, Mint reported that the homegrown investment firm is poised to acquire a controlling stake in the bakery chain for ₹2,200-2,300 crore. The Theobroma acquisition Founded in 2004 by sisters Kainaz Messman Harchandrai and Tina Messman Wykes, Theobroma has grown from a single Colaba café into a pan-India Western desserts platform, operating nearly 250-plus company-owned outlets across 45 cities. Known for its brownies, cakes, and patisserie offerings, Theobroma has created a premium positioning in the quick-service restaurant segment. In fact, the brand's positioning as a 'mass premium' offering is what attracted ChrysCapital to the company in the first place. 'They have a very good premium connect, at least in the metros. The business has gone beyond metros to tier-2 cities in the last few years. We're looking at both markets to scale the business even further," said Batra. 'You can't ignore one versus the other. On the mass side, you still have a large part of the belly of the India market that is waiting to be tapped." ChrysCapital's traditional holding period for companies that have strong economics and are growing well is between 5-6 years. However, the firm didn't say what sort of returns it was expecting a company like Theobroma or future investments from the sector to provide. ChrysCapital is looking to double down on the QSR segment, with emphasis on India's growing affinity for cafes and gourmet offerings. The firm has noticed that Indian consumer behaviour has shifted as well, with more people seeking out organised, experience-led food consumption. 'I am hoping a good player emerges in the Mexican and Chinese cuisine segment, that can give a good luxury experience for Indian consumers at scale," Batra added. The firm is inching closer toacquiring homegrown desserts chain The Belgian Waffle Co., in a deal that values the nine-year-old company at ₹1,300 crore, Mint reported in August last year. If it goes through, it'll be the second premium QSR brand to be added to ChrysCapital's portfolio. 'We had been spending a lot of time on relevant deals in QSR, but luck was not on our side. We did make a play at 2-3 of these [companies] but were not able to get to the finish line either basis price or sometimes even conviction. All these things worked in our favour this time," according to Batra. New fund target Armed with a $2.2 billion new fund that it raised earlier this year, ChrysCapital is looking to write larger cheques and build a bigger portfolio in India. 'QSR is a space we have tracked closely, and there are enough examples in India and around the world where firms have made money. There's also a noticeable shift from Indian desserts to Western desserts, so we were looking for opportunities, keeping in mind this macro trend," he said. Shardul Amarchand Mangaldas and Co. served as Chryscapital's legal counsel on the Theobroma deal, and Deloitte was its financial and tax advisor. Founded in 1999, ChrysCapital has raised nearly $8 billion across 10 private equity funds, a continuation fund, and a public markets fund. From its private equity funds, ChrysCapital has invested $5.5 billion in more than 100 deals and realized almost $8 billion from over 80 exits.
CNBC
03-07-2025
- Business
- CNBC
JP Morgan's bull case for the Nifty: 30,000
Rajiv Batra, Head of Asia and Co-Head of Global Emerging Markets Equity Strategy at JP Morgan believes the Nifty could top 30,000 over the next six to nine months in its bull case scenario, driven by India's growth story. Financials are their top sector pick due to their exposure to domestic demand.
CNBC
12-06-2025
- Business
- CNBC
India is entering a 'Goldilocks' zone after central bank surprise: JPMorgan
Rajiv Batra, Head of Asia Equity Strategy at JPMorgan, says Indian markets are entering a 'Goldilocks' scenario following the Reserve Bank of India's bigger-than-expected rate cut, with falling inflation, rising liquidity, and lower borrowing costs set to boost growth. He sees broad-based benefits across banks, non-banking financial companies, consumption and real estate, while remaining cautious on IT and autos.
News18
30-04-2025
- Business
- News18
Pahalgam Terror Attack: Dry Fruits To Get Costlier As Attari-Wagah Border Closes?
Last Updated: While current shipments are in transit and prices remain stable for now, the situation could change after 10 days, says Rajiv Batra, president of Delhi's Khari Baoli traders' body. With the closure of the the Attari-Wagah border amid rising tensions between India and Pakistan following the Pahalgam Terror Attack, dry fruit imports from Afghanistan are likely to be hit, triggering a potential spike in prices across India, according to The Times of India report. Afghanistan is a major supplier of dry fruits like almonds, raisins, and pistachios to India. Trade data shows that in April-January of FY2024-25, India imported $358 million worth of goods from Afghanistan, of which dry fruits formed a significant portion. According to Rajiv Batra, president of Delhi's Khari Baoli traders' association, as reported by TOI, while current shipments are in transit and prices remain stable for now, the situation could change after 10 days. He warns prices in the national capital may rise by up to 20 per cent once stocks deplete. With trade through Pakistan suspended — including third-party shipments via Pakistan — India is exploring alternative supply routes through the UAE, Iran, and Iraq, which are expected to partially replace the Afghan supply, said Batra, according to TOI. The trigger for the trade suspension was a deadly terror attack in Pahalgam that killed 26 people, prompting India to take a number of steps against Pakistan, including halting cargo movement through the Attari border.
Time of India
28-04-2025
- Business
- Time of India
Badam-Kishmish to be expensive after Attari-Wagah closure?
Dry fruits like almonds, raisins, pistachios and others, are an intricate part of Indian culture, be it sweets, snacks or even oils. Most of these delicacies travel all the way from Kabul to New Delhi. However, these imports are at a major risk after the closing of Attari-Wagah border due to growing tensions between India and Pakistan. Exporters have warned that this could lead to a surge in domestic prices for these commodities Afghanistan has long been a key exporter of dry fruits to India, alongside Pakistan. According to data, India's imports of dry fruits from Afghanistan in the 2024-25 period (April-January) amounted to $ 358 million, while its exports to Afghanistan during the same period were valued at $ 264.15 million. Prices of dry-fruits to spike? "Though immediate there is no impact as goods are in transit, but after ten days the imports will be stopped completely." said Rajiv Batra, president of the Khari Baoli traders' association in Delhi. "After that the prices would go up to 20 per cent in the national capital." Alternative routes Batra also noted that while imports from Afghanistan will be severely curtailed, alternative routes through countries like the UAE, Iran, and Iraq are expected to partially replace the Afghan supply. Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like My Stepdad Demands I Pay Him Rent On My 18th Birthday. He Doesn't Know I Own The House So I Did This Beach Raider Undo The land border closure, combined with Pakistan's trade suspension, is creating major uncertainty for both the domestic market and the dry fruit supply chain. With imports likely to decline, Indian consumers can expect price hikes on these essential commodities in the near future. The attack, which took place in Pahalgam and resulted in the deaths of 26 people, mostly tourists, prompted India to take immediate action, including halting trade through the Attari land border. This border, located near Amritsar in Punjab, is a key route for the movement of certain goods, including dry fruits from Afghanistan. In retaliation, Pakistan suspended all trade with India, including trade to and from third countries via Pakistan. As a result, this disruption is expected to affect both exports and imports to and from Afghanistan, a major supplier of dry fruits to India. Stay informed with the latest business news, updates on bank holidays and public holidays . Master Value & Valuation with ET! Learn to invest smartly & decode financials. Limited seats at 33% off – Enroll now!
