Business Today 18 September 2022

In many ways, India’s growth story has also been the story of the rise of its business families. It is well known how India’s storied business families set up the basic structure of Indian business over the past 75 years and even earlier. Today, no mention of India’s business and corporate environment can be complete without acknowledging the contribution family-owned businesses are making in powering the country’s economic growth. There are the Ambanis, the Adanis, the Birlas, the Bajajs, the Jindals, the Poonawallas, the Goenkas and many, many more who are playing a critical role in driving Indian business forward, investing in new projects, creating wealth and providing employment to millions across the country. (The Tata group is not counted as a family-owned business since it is owned by the…

SOURCE: PIB, IMARC GROUP $177 MILLION India’s toy exports in FY22, a growth of 61 per cent from $109 million in FY19 70 PER CENT Fall in India’s toy imports in FY22 from $371 million in FY19 $2.73 BILLION Likely size of the Indian toy market by 2027, almost double that of $1.35 billion in 2021…

DOUBLE DELIGHT The AUM of the PMS industry has almost doubled in the past six years. The client base of the players is on the way to recovery after the uncertainty caused by Covid-19 NO. OF CLIENTS (’000s) AUM (in ` lakh crore) Figures include discretionary, non-discretionary, co-investment and advisory THE BIG POT Here are the country’s top PMS schemes in terms of assets under management THE MORE THE MERRIER Most of the top large-cap performers delivered over 15 per cent annualised returns in the past three years (Returns in per cent) OUT OF THE WOODS Overall, the Indian equity market managed to recover smartly despite hiccups OUTPACING BIG PEERS In line with markets, these midcap schemes outpaced largecap ones in the past three years SMALLER AND WISER Small-cap strategies,…

HOLDING BACK API HOLDINGS, the parent company of e-pharmacy PharmEasy, has decided to put its IPO plans on hold. Citing the uncertain outlook that has forced many start-ups to delay their plans of listing, the company has withdrawn the application it had filed in November 2021 with the Securities and Exchange Board of India (Sebi). Having planned to raise `6,250 crore through the IPO, it said, ‘market conditions and strategic considerations’ have necessitated the shelving of its IPO plans for now. The start-up also informed its investors that it now plans to raise funds via a rights issue through convertible preference shares. —BINU PAUL ON THE RISE AGAIN Stagnant since demonetisation, prices of residential homes are surging again. With the cost of inputs such as steel, cement, copper and aluminium rising…

Change of Guard Mohit Burman, 54, is the new boss of Dabur India. He recently took over as Non-executive Chairman of the company from cousin Amit. He played a critical role in the acquisition of the home and hygiene business of the Balsaras and the takeover of Kolkata-based battery maker Eveready. Burman, one of the owners of IPL team Punjab Kings, takes charge in uncertain times and will have his hands full. —ARNAB DUTTA IN SHARMA WE BELIEVE PAYTM FOUNDER VIJAY SHEKHAR SHARMA has won a massive test of shareholder support. The shareholders One 97 Communications, the parent entity that Paytm, have approved the re-appointment of the billionaire as MD & CEO of the company. Advisory firm Institutional Investor Advisory Services had recommended against his reappointment and several other resolutions…

AFTER A complete lull for two months, the primary market saw some action in August with two initial public offerings (IPOs) hitting the market. While the IPO of engineering and design solutions firm Syrma SGS Technology was subscribed 15.6 times, the public issue of airport services aggregator platform Dreamfolks Services got subscribed 23.25 times. The benchmark indices, too, have gained over 10 per cent in the past couple of months. Market participants believe that the response to the recent public issues shows that there is still appetite for IPOs amidst the volatility, provided investors are satisfied with the valuations. This assumes significance as last year was a record one in terms of IPO fundraising with a cumulative amount of ₹1.2 lakh crore raised through 63 public issues, though many of…