The three brothers who run the Haldiram in Nagpur and Delhi have decided to combine their businesses to create one snacking behemoth before filing a massive Initial Public Offering (IPO). This decision comes days after ethnic snacks major Bikaji, a company from the original Haldiram family, listed on the stock markets.
The Delhi entity is called Haldiram Snacks and the Nagpur entity is known as Haldiram Food International but the name of the combined entity is still being discussed.
Four brothers who divided the original Haldiram, which their grandfather Ganga Bishan Agarwal founded in 1932, now own both Haldirams and Bikaji. Shiv Kishan Agarwal, the eldest brother, is in charge of the Nagpur organisation, which has sway over the markets in west and south India. While Shiv Ratan Agarwal, the second brother, is in charge of Bikaji. Manohar and Madhusudan Agrawal, the two youngest brothers, are in Delhi and have control over the North markets.
They intend to merge the businesses in the upcoming year and apply for an IPO in 18 months. Additionally, they began discussing IPO ambitions with bankers.
Currently, the total market shares of the two Haldiram enterprises are 48.5 percent for Indian ethnic snacks and 8.6 percent for western snacks.
RMBRCN celebrates Charter Presentation & Installation, Rina Sinha becomes Charter President
The Rotary Means Business chapter of Rotary Club Of Nagpur (RMBRCN) celebrated their Charter Presentation and Installation of Board on September 17, 2023 in a crisp official ceremony at Hotel Centre Point, Nagpur.
Rotary Means Business encourages Rotarians to support the success of their fellow Rotarians by doing business with them and by referring others to them.
Charter President Past President Rtn Rina Sinha presided over the ceremony. Renowned entrepreneur and Rotarian Aspi Bapuna, Chairman of Bapuna Group, was the Chief Guest and Rtn Namita Sharma, President of RCN, was the Guest of Honour.
The Board of Directors of RMBRCN include Rtn Navneet Jain, Vice President, Rtn Mohammed Master, Honorary Secretary, Rtn Sanjay Aggarwal Treasurer, Rtn Rakhi Bhatia Director Chapter Service, Rtn Rahul Shrivastava, Director Vocational Service, Dr Ruchi Choudhry, Director Membership Development, Ranjana Duseja, Director Attendance.
Past Rotary District Governor (PDG) Shabbir Shakir, Past Presidents- Bharat Goenka , Khushnoor Chugh, Sanjiv Chugh, Akhtar Parvez, Tejinder Singh Rawal, Alok Goenka, Jerestine Watchmaker, Sandeep Dhodapkar, Sanjay Arora, President RMB Nagpur, and Behram Patel and Amitabh Sinha were present.
President Rina Sinha informed that within a short period of its formation already 48 members representing various businesses have joined the chapter and the numbers are increasing . The Chapter has already crossed 5 crores of business amongst their members and RMB will further strengthen Rotary in membership growth and retention .
Chief Guest Rtn Aspi Bapuna lauded the chapter’s success and reiterated that its comfortable and safe to do business among fellow rotarians as all follow the Four Way Test of Rotary. Jerestine introduced President Rina. Aspi Bapuna presented the charter and installed President Rina Sinha . Rtn Namita congratulated the RMB chapter and informed that this is the new initiative at RCN.The Board was installed by Rina Sinha and all members were installed by the Past Presidents. An exclusive digital Monthly Magazine ‘Growth Engine’ was launched by Editor Niharika Chugh Vali.
Navneet Jain and Rahul Choudhry conducted the referral and thank you session where enthusiastic members informed about their successful business details. Nishchay Sinha launched the social media and MYRMB app which connects members to other chapters digitally, Treasurer Sanjay Agarwal gave treasurers report, Rtn Rakhi Bhatia managed the event. Rtn Parag Datey and Niharika were the Masters of Ceremony (MOCs). Secretary Mohammed Master proposed the formal Vote of Thanks .
Nagpur one of the emerging IT hubs in India, NASSCOM reports
The National Association of Software and Service Companies (NASSCOM), on Tuesday, released a detailed report on twenty-six emerging tier-2 technology hubs in the country, Nagpur being one of them.
The Deloitte-Nasscom report also released a state-wise list, which included Raipur, Ahmedabad, Ranchi, Bhopal, Indore, Nashik, Jaipur, and Kanpur among other emerging IT hubs.
“One of the key advantages of emerging cities is their cost-to-value ratio. Companies can access good-quality talent at 25–30 percent lower cost than the major centres, making these locations an attractive option for businesses looking to reduce costs while maintaining high levels of productivity. Moreover, emerging cities often have a strong start-up ecosystem, with many incubators and accelerators providing support and resources to help businesses start operations,” the report stated.
“With proper support and resources, these locations can become major hubs of economic growth and development, driving the success of the technology sector in India,” it further added.
According to the report, the technology industry in India has shown tremendous growth and has been growing at a CAGR (compound annual growth rate) of nine percent since fiscal year 2019.
NASSCOM, established in 1988, is one of the most influential technology giants leading the digital transformation narrative for the 245-billion-dollar technology industry in India.
CAMIT Chief Dipen Agrawal nominated as member in CGSTGRC Nagpur zone
Dr Dipen Agrawal, President – Chamber of Associations of Maharashtra Industry & Trade (CAMIT) has been nominated as member in Central Goods & Service Tax Grievance Redressal Committee (CGST GRC) Nagpur Zone.
At the outset Dr Dipen Agrawal while thanking Ramchandra Sankhla Chief Commissioner CGST, Vijay Rishi Commissioner Nagpur – 1 and Shri Abhay Kumar Commissioner Nagpur – 2 for giving representation to CAMIT in the recently reconstituted GRC for Nagpur Zone, said, the GRC has enabled revenue officers to have first-hand feedback on various policy initiatives undertaken by government. It also helped in ironing out the difficulties faced by trade in implementing provisions of GST, and to make GST a Grievance-free System of Taxation.
Dr Dipen Agrawal has appealed to fellow traders to forward/share their issues on [email protected] so as to get them addressed in the GRC Meetings. Active and quality participation of trade and professional associations in the committee will achieve the goals of resolving all grievances and issues faced by the tax collectors i.e. traders.
GRC is a platform to voice their grievances including procedural difficulties and IT related issues pertaining to GST and redressal at local level added Dr Agrawal.