Tupperware Brands agreed to sell its business to a group of lenders for $23.5 million in cash and over $63 million in debt relief, avoiding an open-market auction. The sale comes after Tupperware filed for bankruptcy with $818 million in debt and faced opposition from some lenders regarding its proposed auction.

Akzo Nobel, Europe's leading paint manufacturer, is exploring options to either partner with a larger company or sell its Indian operations. Akzo Nobel's aim is to navigate the consolidation in the South Asian paint market. The company currently holds a 5% market share in India with its Dulux brand and seeks a collaborative approach for future growth.

Tupperware Brands has been granted approval to sell its assets to its lenders, enabling the company to exit bankruptcy. Unable to find a buyer to pay off its $818 million debt, Tupperware will transfer its brand name and key assets to investment firms Stonehill Capital Management Partners and Alden Global Capital. The company plans a digital-first, asset-light business model post-bankruptcy.

Commenting on Q2 performance, Stove Kraft's managing director Rajendra Gandhi said, “With positive market momentum supporting us, we remain committed to driving volume and value growth in revenue and margins in the upcoming quarters." He further said that ​​the company's expansion of Pigeon outlets through the COCO and COFO model has been promising. During this quarter, the firm added 22 new stores, bringing our total to 213.

Sheela Foam, maker of Sleepwell and Kurl-on mattresses, reported a consolidated net profit of Rs 9 crore on revenues of Rs 813 crore in Q2 FY25. The company saw a 32% year-on-year revenue increase, driven by a 19% rise in mattress volume.

Akzo Nobel India reported a 14% increase in net profit to Rs 108.7 crore in the fourth quarter, driven by higher demand from the automotive sector. Despite muted retail demand due to higher rainfall and price hikes, the company's revenue from operations rose 3% to Rs 9.82 billion.

Eureka Forbes reported an 83.2% YoY rise in Q2 net profit to Rs 46.67 crore, with revenues up 27.6% to Rs 672.87 crore. Growth was driven by product innovation, increased marketing, and early festive season demand.

Net profit after minority interest declined to ₹694.60 crore in July-September quarter from ₹1,205.40 crore during the corresponding period of last fiscal year. Consolidated net sales decreased 5.3% to ₹8,003.0 crore from ₹8,451.9 crore.

Asian Paints faced a challenging second quarter with muted demand due to uneven rainfall and a slowdown in metro cities. Despite price hikes, competitive intensity remains high. The company is cautiously optimistic about single-digit volume growth in the coming quarter while closely observing AkzoNobel's strategic review of its India business.

​​The Umbergaon, Valsad-based company said the issue comprises Rs 850 crore of offer for sale and Rs 350 crore of fresh issue, and will close on December 15. Its chief financial officer Rahul Shah told reporters here that the floor price is 75 times and the cap price is 79 times the face value of the equity shares.

At 11:06 a.m., the public issue was subscribed 1.09 times. The retail category was subscribed 4.08 times, while the NII portion garnered 1.18 times bids. There were no bids from qualified institutional buyers so far.

“We have been able to grow a little from 15.4% to 16.7% in H1. But this is coming more from the operational efficiencies point of view. And also a very little from probably I can say, there is an advantage currently where the raw material prices are at most low. This is the advantage we have been able to get in H1. ”

Manos Nikolakis, GM, BIC Cello, said, "While e-commerce is growing significantly across the country, the landscape of the Indian market is still heavily reliant on traditional trade. Accordingly, this remains our main sales driver. The lack of digital penetration in semi-urban and rural areas can sometimes create a challenge in the e-commerce space, which means that e-commerce is mostly relevant in bigger cities with a more mature infrastructure."

“We will first want to focus on growth in terms of top line and margins will take care of themselves. With a lot of operating efficiencies coming in, margin should take care of itself but we follow our mantra of “nothing at the cost of market and nothing at the cost of margin. So we will balance both together.”

Bharat Puri, MD of Pidilite Industries, discusses the company's revenue growth driven by volume growth and reduction in prices due to normalized raw material prices. Puri expects double-digit volume growth going forward and highlights the company's focus on investing in rural markets, which have shown no decline or softness. Pidilite Industries has added 30,000 new retail points to its rural network and sees rural markets as a driver of growth. Puri also mentions the improvement in international business and sustainable EBITDA margins at the higher range of 20-24%.

The board of Pidilite -- maker of Fevicol, Dr Fixit, Fevikwik and M-Seal -- at its meeting held on Thursday approved the appointment of Vats as Managing Director Designate, who is currently Deputy Managing Director of Pidilite Industries.

Stationery retailer DOMS Industries has acquired 51 per cent of stake in Skido Industries with an initial investment of Rs 51 lakh, marking its entrance into school bag manufacturing, it said in a press release on Thursday. The remaining stake of Skido remains with Sehgals.

“With this expansion, we are excited to connect with even more individuals and families, offering them a curated selection of products that inspire creativity and enrich everyday life," said Divyanshu Solanki, founder and CEO of the company.

India's Pidilite Industries , which makes Fevicol adhesives and Dr. Fixit waterproofing products, posted a 6.2% jump in fourth-quarter profit on Tuesday, driven by lower input costs.

​​Santosh Raveshia, Managing Director, DOMS Industries Limited said, "As we conclude FY24, we are pleased to report on a period marked by significant achievements and strategic initiatives that have reinforced our strong position in the stationery and art materials market. We continued seeing positive business traction resulting in robust sales growth coupled with further elevation of margins, reflecting upon the strength of the ‘DOMS’ Brand to connect with its consumers."

Mumbai-based Pidilite Industries, the maker of Fevicol and M-Seal adhesive brands, has approached the court to restrain Dubond Products from allegedly infringing its registered trademarks, copyright and passing off for its waterproofing brand Dr Fixit LW.

Shree Vallabh Metals in October 2023 had secured an injunction from Delhi HC against the use of the MAX FRESH trademark by Cello Plastic Industrial Works.

The term sheet indicates an indicative issue price of Rs 852 per share and a floor price of Rs 896 per share. Cello World’s stock closed at Rs 961 on July 3, indicating that the QIP is being launched at an 11% discount to the last closing price.

Pidilite Industries Ltd. managing director Bharat Puri expects volume and value growth to align in the second half of Q2 2024, with value growth potentially surpassing volume due to improved product mix. The company reported a 9.6% increase in volume and a 21% rise in net profit to Rs. 571 crores. Export sales were affected by geopolitical tensions and shipping delays.

DOMS Industries Limited reported strong Q1 FY25 results, with a notable 17.3% increase in revenue and 49.5% growth in profit after tax compared to Q1 FY24. The firm saw improved EBITDA and margin performance. The company also announced plans to acquire a majority stake in Unilcan Healthcare to expand its market.

India's paper market is experiencing rapid growth, with packaging paper and paperboard consumption rising at 8.2% in 2023-24. The market, driven by demand from FMCG, textiles, pharmaceuticals, e-commerce, and healthcare sectors, benefits from the ban on single-use plastics. Overall paper demand in India grows at 6-7% annually.

Pidilite Industries has invested Rs 5 crore in Wify, a home improvement and maintenance services platform. This pre-series A funding round was led by Capria and Mount Judi Ventures, with participation from Blume Ventures. The investment aims to boost Wify's growth by enhancing its tech stack, expanding services, and strengthening its market position.

Linc, a writing instruments brand, has appointed Sachin Bhatnagar as its new president of global business. Bhatnagar brings over 30 years of experience to the role, having previously served as CEO at Lykis. He will be responsible for driving Linc's strategic direction and growth.

DOMS Industries Limited witnessed a 42.8% surge in consolidated profit after tax, reaching Rs 53.7 crore in Q2 FY25. This growth was fueled by a 19.7% rise in revenue, driven by strong sales in writing instruments, adhesives, and kits. The acquisition of a 51.8% stake in Uniclan Healthcare further bolstered the company's performance.

FirstCry’s IPO size will be the same, as per the IPO papers. It intends to raise $218 million (about Rs 1,815 crore) in primary funding through issuance of new shares and divestment of 54 million shares from existing investors.

FirstCry's CEO Maheshwari saw a 49% compensation drop. The company plans an IPO, approaching SEBI. Employee benefits decreased, with a Rs 23,000 crore valuation and an expected IPO of $3.5-3.75 billion.

India's toy exports saw a slight decline to USD 152.34 million in 2023-24 from USD 153.89 million the previous year. Despite quality control orders, exports did not benefit much. GTRI Founder Ajay Srivastava suggested a more comprehensive strategy to develop the industry and boost exports.

Johnson & Johnson has agreed to pay a $700 million settlement to resolve a probe by 42 US states and Washington, DC. The inquiry examined the marketing of their baby powder and other talc-based products, which have faced allegations of causing cancer. The settlement addresses claims that Johnson & Johnson deceived consumers about the safety of its talc products.

Government initiatives, such as mandatory quality control orders and increased customs duties, have significantly boosted India's toy exports, but further efforts are needed, according to DPIIT Secretary Rajesh Kumar Singh. He mentioned ongoing efforts to include the toy sector in the production-linked incentive (PLI) scheme, with a proposed budget of Rs 3,489 crore, to enhance domestic manufacturing.

Jammbo, founded in 2023, presently has about 50 products in its portfolio, focusing on ride-on battery toys such as electric cars and bikes. It aims to expand its portfolio to over 200 products by the end of the current fiscal year. The startup has set up its global presence by entering the UAE market. Further, it plans to expand to the U.S. and the U.K. markets this fiscal.

Union Minister calls on domestic toy industry to back artisans and foster creativity at Toy CEO Meet. Global players like Walmart and Amazon join hands for collaborations. Government measures boost local manufacturing. Stakeholders discuss investment opportunities in India's growing toy market.

FirstCry, a baby and mother care product retailer, will list likely at a $3-3.5 billion valuation, sources in the know told ET. FirstCry's IPO will be the second major new-age company to debut on Dalal Street this year, after Ola Electric. The company's offer size remains the same as mentioned in its draft papers.

FirstCry reported a 15% increase in operating revenue to Rs 6,481 crore and reduced losses by 34% in FY24. The Pune-based firm's international business, which is seeing faster growth than domestic operations, reported a revenue of Rs 753 crore, growing by over 50%. The firm plans to use a significant portion of its IPO proceeds for expansion in Saudi Arabia.

The IPO of Brainbees Solution, known for its kidswear brand FirstCry, will open on August 6. It comprises a fresh issue of Rs 1,666 crore and an OFS of up to 5.4 crore shares. The anchor investor round will commence on August 5, a day before the IPO. The price band will be announced later in the week, as per the company's red herring prospectus RHP filed with Sebi.

Founded by Supam Maheshwari and his colleague from a previous business, Amitava Saha, FirstCry has been the darling of investors which include SoftBank, Tata Sons Chairman Emeritus Ratan Tata, Premji Invest, Mahindra & Mahindra and TPG Growth.

Baby food startup Bebe Burp shared that it will utilise 60 per cent of the fund for growth, 20 per cent for operations, 10 per cent for product development, and the remaining for team building for a coherent production.

We'll continue to invest in our brand, technology, products, and grow our offline online touchpoints. We are going to open around 350 stores over the next three years and grow our multi-channel competitive strengths. We will also enhance our in-house brands and their distribution through pharmacies and grocery stores. We also plan to invest in manufacturing, international markets and Globalbees, our brand aggregator platform,Supam Maheshwari, cofounder and CEO of FirstCry said.

According to a circular upload on BSE, Brainbees Solutions allotted 4.05 crore equity shares to 71 funds at Rs 465 apiece, which is also the upper end of the price band. This takes the transaction size to Rs 1,886 crore. The IPO, with a price band of Rs 440-465 a share, will open for public subscription on August 6 and close on August 8.

“Subscription, oversubscription, listing gains, do not matter much to me, personally. What matters is this milestone of launching the IPO, which gives a feeling of accomplishment to all our families, and extended families. I am sure performance will always proceed when it comes to the outcome in terms of numbers on the stock market. So, that is okay,” Supam Maheshwari, cofounder and CEO of the Pune-based company, told ET on the sidelines of the listing ceremony.

Floods in the UAE and early Eid, which saw festival season purchases being advanced to early April, hit order volumes for Brainbees Solutions, the parent firm of the baby and mother care product retailer. However, order volumes are now back on track, said CEO Supam Maheshwari.

DOMS Industries Limited has acquired a 51.77 per cent equity stake in Uniclan Healthcare for Rs 54.88 crore, making it a subsidiary. This strategic move allows DOMS to diversify into the baby hygiene market, aligning with its growth strategy and enhancing its distribution network for long-term success.

Tuco Intelligent, a kids' personal care brand, has secured $2 million in seed funding led by Fireside Ventures and Whiteboard Capital. Founded by ex-Unilever executive Aishvarya Murali, Tuco offers natural and sustainable products for children. The brand emphasizes eco-friendly packaging using reclaimed ocean and landfill plastic.

Millennium Babycares Ltd announced the closure of a Rs 122 crore private placement round with Bharat Value Fund (BVF), which acquired a significant minority stake. BVF is managed by Pantomath Capital and targets a corpus of Rs 2,000 crores. The funds will be used for market expansion in India and internationally.

Shares of FirstCry fell 4.5% after the GST department initiated an investigation at its Mumbai head office and Pune warehouse. The company assured normal operations, with no details on alleged violations.

After being tapped to lead the Department of Government Efficiency with Vivek Ramaswamy, Elon Musk said all of the actions taken by the department will be posted online for "maximum transparency."