Latest news with #Reliance-owned
Hindustan Times
6 days ago
- Business
- Hindustan Times
Vijay Mallya recalls picking Virat Kohli for RCB as a youngster: ‘Remarkable he stayed for 18 years'
Fugitive businessman Vijay Mallya was in a celebratory mood as Royal Challengers Bengaluru (RCB) lifted the IPL trophy after 18 long years. RCB earned a place in the history books after trouncing Punjab Kings in the final of the 18th season of IPL to bring the trophy home for the first time in 18 years. In a post shared on the social media platform X, the former owner of RCB recalled picking Virat Kohli for the team at its inception and said it was his dream to bring the IPL trophy to Bengaluru. 'When I founded RCB it was my dream that the IPL trophy should come to Bengaluru,' wrote Vijay Mallya. 'I had the privilege of picking the legendary King Kohli as a youngster and it is remarkable that he has stayed with RCB for 18 years. 'I also had the honour of picking Chris Gayle the Universe Boss and Mr 360 AB DeVillers who remain an indelible part of RCB history. 'Finally, the IPL trophy arrives in Bengaluru. Congratulations and thanks again to all who made my dream come true. RCB fans are the very best and they deserve the IPL trophy. Ee Sala Cup Bengaluru baruthe!' he wrote. After the establishment of IPL, an auction was held in January 2008 which represented eight different cities in India. The Bangalore franchise was acquired by Vijay Mallya. Mallya paid $111.6 million for the franchise, making it the second most expensive - just behind Reliance-owned Mumbai Indians. RCB acquired several high-profile Indian and international players, including Jacques Kallis, Anil Kumble and Zaheer Khan. In the second round of the auction, they also signed India under-19 World Cup-winning captain Virat Kohli. He was yet to turn 18. In nearly two decades with RCB, Virat Kohli has of course gone from strength to strength. His words after the IPL 2025 win give a glimpse into what the win means for him. "This win is as much for the fans as it is for the team. It's been 18 long years. I've given this team my youth, prime and experience. I've tried to win it every season, gave it everything I have,' said Kohli. 'To finally have it is an unbelievable feeling. Never thought this day would come, I was overcome with emotion after the last ball was bowled.'
Time of India
02-06-2025
- Business
- Time of India
Furniture retailer Pepperfry raises Rs 43 crore from existing investors
Omnichannel furniture and home goods company Pepperfry has raised Rs 43.3 crore from existing investors Norwest Venture Partners, Goldman Sachs, General Electric Pension Trust, Growth Equity Opportunity Fund, and Panthera Growth Partners, among others. General Electric Pension Trust led the round with an investment of Rs 21.5 crore, followed by Norwest Venture Partners with Rs 8.5 crore and Panthera with Rs 6.4 crore. The remainder was contributed by other investors, according to the company's filings with the Registrar of Companies (RoC). The company issued around 5.6 lakh compulsorily convertible preference shares with a face value of Rs 775 each on a private placement basis. In its last funding round, the Mumbai-based company had raised $23 million in 2022 from the same group of investors. Prior to that, it had secured $45 million in debt funding in 2021. News website Entrackr first reported the latest development. Pepperfry had postponed its planned initial public offering (IPO) last year after engaging with bankers, as it was focusing on growth and profitability, cofounder Ashish Shah had told ET in an earlier interaction. The company, founded in 2012, had converted into a public entity in 2022 as part of its IPO preparations, which aimed to raise $250–300 million. In FY24, Pepperfry reported a 30.6 per cent year-on-year decline in operating revenue to Rs 188.9 crore. However, it narrowed its losses by 37.4 per cent to Rs 117.4 crore, from Rs 187.6 crore in the previous year. The company competes with ecommerce platforms such as Amazon India and Flipkart, as well as Reliance-owned Urban Ladder, and generates most of its revenue through commissions on product sales. Pepperfry has also been expanding its home décor segment and has onboarded multiple direct-to-consumer brands to strengthen its portfolio.
Time of India
02-06-2025
- Business
- Time of India
Furniture retailer Pepperfry raises Rs 43 crore from existing investors
Omnichannel furniture and home goods company Pepperfry has raised Rs 43.3 crore from existing investors Norwest Venture Partners, Goldman Sachs, General Electric Pension Trust, Growth Equity Opportunity Fund, and Panthera Growth Partners, among others. General Electric Pension Trust led the round with an investment of Rs 21.5 crore, followed by Norwest Venture Partners with Rs 8.5 crore and Panthera with Rs 6.4 crore. The remainder was contributed by other investors, according to the company's filings with the Registrar of Companies (RoC). The company issued around 5.6 lakh compulsorily convertible preference shares with a face value of Rs 775 each on a private placement basis. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Play War Thunder now for free War Thunder Play Now In its last funding round, the Mumbai-based company had raised $23 million in 2022 from the same group of investors. Prior to that, it had secured $45 million in debt funding in 2021. News website Entrackr first reported the latest development. Live Events Pepperfry had postponed its planned initial public offering (IPO) last year after engaging with bankers, as it was focusing on growth and profitability, cofounder Ashish Shah had told ET in an earlier interaction. Discover the stories of your interest Blockchain 5 Stories Cyber-safety 7 Stories Fintech 9 Stories E-comm 9 Stories ML 8 Stories Edtech 6 Stories The company, founded in 2012, had converted into a public entity in 2022 as part of its IPO preparations, which aimed to raise $250–300 million. In FY24, Pepperfry reported a 30.6% year-on-year decline in operating revenue to Rs 188.9 crore. However, it narrowed its losses by 37.4% to Rs 117.4 crore, from Rs 187.6 crore in the previous year. The company competes with ecommerce platforms such as Amazon India and Flipkart, as well as Reliance-owned Urban Ladder, and generates most of its revenue through commissions on product sales. Pepperfry has also been expanding its home décor segment and has onboarded multiple direct-to-consumer brands to strengthen its portfolio.
Mint
19-05-2025
- Business
- Mint
Boycott Turkey gains momentum: From aviation to chocolates, list of Turkish products and services shunned by India
In the wake of Turkey's support to Pakistan during its recent military conflict with India, traders, customers and companies have called for a boycott on a wide range of Turkish products. From ground aviation services and fruits, to chocolates and clothing brands, here is a list of Turkish products and services Indians are boycotting as Istanbul supported Pakistan. The first official blow to Turkey came when the Bureau of Civil Aviation Security (BCAS) on Thursday revoked the security clearance for the ground handling and cargo services provider Celebi. Following the decision, most of the nine airports that Celebi works with have cut ties with the company. Air India has asked the Civial Aviation Ministry to halt rival IndiGo's leasing tie-up with Turkish Airlines, citing business impact as well as security concerns, Reuters reported recently. Since 2023, IndiGo has had a leasing arrangement with Turkish Airlines, which has provided two planes with pilots and some crew to IndiGo to operate on New Delhi- and Mumbai-to-Istanbul routes. MakeMyTrip on Wednesday said flight bookings to Turkey and Azerbaijan have dropped by 60 per cent in the last one week and cancellations surged to 250 per cent. Along with Turkey, Azerbaijan had also supported Pakistan during the conflict with India. 'Indian travellers have expressed strong sentiments over the past one week, with bookings for Azerbaijan and Türkiye decreasing by 60 per cent, while cancellations have surged by 250 per cent during the same period,' a MakeMyTrip spokesperson stated. As the 'Boycott Turkey' movement gains momentum, the All India Consumer Products Distributors Federation that represents 4.5 lakh FMCG distributors, have called for a total boycott on several Turkish goods, according to a report by Moneycontrol. Among the products that face the ban are Turkish chocolates, wafers, jams, syrups, tea, coffee, cookies, layered cakes, and packaged sweets. Personal care products such as body washes, wet wipes, cosmetics and skincare will also face the ban, as per the report. According to a report by The Economic Times, Flipkart-owned Myntra and Reliance-owned Ajio have stopped selling apparel from Turkish-owned brands such as Trendyol. A search on Myntra's platform fails to show products from Trendyol, a Turkey-based brand. Similarly, Reliance's Ajio has also made products from Turkish companies 'out of stock'. Traders and customers across India are boycotting fruits coming from Turkey. In Haridwar, customers said that all the Turkish fruits should be completely boycotted in India. A customer told ANI, 'How can we support a country that does not stand with our country. The general public is boycotting everything, so we must boycott it too.' Fruit traders based in Prayagraj too have collectively decided to boycott Turkish apples. Earlier, Himachal Pradesh farmers had also demanded a ban on Turkish apple imports, urging the Central government to impose as high as 100 per cent duties on them. Universities and colleges across India have also cut their ties and stopped student exchange programmes with Turkey, in a move to boycott the country. Top universities like IIT Bombay, JNU and Jamia Milia Islamia, as well as private universities including Maulana Azad National Urdu University, Chandigarh University and Lovely Professional University have cut all ties with Turkey or suspended them in view of the ongoing situation.
India.com
18-05-2025
- Business
- India.com
Boycott Turkey campaign intensifies in India, EaseMyTrip, Ixigo stop bookings, Apples and Marble…, how much the ban is going to affect India, Turkiye
New Delhi: In a major move reflecting the growing national sentiments, the Indian traders on Friday announced a complete boycott of Türkiye and Azerbaijan, citing their support for Pakistan during the recent military conflict with India. Earlier today, business leaders from over 24 Indian states gathered in Delhi to take a final call on the issue. 'A collective decision has been taken in the conference of trade leaders today to end all trade with Turkey and Azerbaijan… The reason is clear. Turkey and Azerbaijan openly supported Pakistan against India… Any import and export will not happen with Turkey and Azerbaijan with immediate effect,' BJP MP and Confederation of All India Traders (CAIT) Secretary General Praveen Khandelwal told the media following the meeting. To recall, Türkiye and Azerbaijan openly supported Pakistan and sent drones, weapons, and trained personnel to be used against India. This led to a nationwide movement in India calling for a boycott of Türkiye and Azerbaijan. Major Steps Taken to Boycott Türkiye EaseMyTrip and Ixigo have issued advisories urging people to avoid traveling to Türkiye and Azerbaijan. The companies have cited political tensions and security concerns. Jawaharlal Nehru University (JNU) has suspended its academic agreement with Türkiye's Inonu University, citing national security concerns. Aligarh Muslim University (AMU) has also ended its academic ties. Traders in Pune have decided to stop importing apples from Türkiye. Instead, they are sourcing apples from Himachal Pradesh, Uttarakhand, Iran, and other regions. The Udaipur Marble Processors Association has urged the government to ban marble imports from Türkiye. Traders in Kanpur have canceled 80% of their orders, while Jaipur-based businesses have halted orders worth crores of rupees. Adani Airport Holdings has terminated its partnership with the Turkish firm Celebi, which provided ground handling services at Mumbai's Chhatrapati Shivaji Maharaj International Airport and Ahmedabad's Sardar Vallabhbhai Patel International Airport. Leading e-commerce platforms like Myntra and Reliance-owned Ajio have stopped selling products made in Türkiye. Export Market Loss It is important to note that India is a major market for Turkey's marble and apples. Due to the boycott, Turkey will have to find alternative markets for its products, which may not be able to purchase in the same volumes or offer competitive prices. According to the OEC, India imported approximately $92.8 million worth of apples from Turkey in 2023. Traders in Pune have decided to stop buying apples from Turkey. Instead, they are now sourcing apples from Himachal Pradesh, Uttarakhand, Iran, and other regions. Pushan Dutt, Professor of Economics and Political Science at INSEAD Business School, said, 'Only 0.64 percent of Turkey's exports go to India, and 3 percent of its imports come from India. Similarly, only 0.5% of Turkey's tourists come from India. Therefore, a boycott in terms of trade and tourism will not have a significant impact on Turkey's economy.'
