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Diversified conglomerate ITC is increasing its bet on the rapidly growing frozen foods market. The Kolkata-based entity, which has been in the ready-to-cook (RTC) segment since 2019, has taken the inorganic route to scale the business as it gears up to acquire popular frozen foods maker Prasuma against some Rs 300 crore. 

The deal, planned to be completed over three years will see  ITC picking up a 43.8% stake by March 2025 in the company in the first tranche.  

ITC plans to raise its stake in Prasuma to 62.5% by April 2027 and the rest of the stake will be acquitted by the conglomerate by June 2028 based on pre-defined valuation criteria and subject to other conditions as stated in the definitive agreements. 

The company has not revealed the total cost of the acquisition but according to estimates ITC may have to spend close to Rs 300 crore to expand its presence in the frozen foods market that is increasingly gaining traction among urban consumers. 

As per the ITC management, the company will initially acquire 62.5% stake in Prasuma for Rs 187 crore and the deal will help ITC build a frozen, chilled and RTC portfolio in the Rs 10,000 crore market segment that has high growth potential.  

The move aligns with its ITC Next strategy coined by its Chairman Sanjiv Puri. The strategy primarily focuses on building a future-ready portfolio of products that serves evolving consumer needs. 

“ITC’s valuation of Prasuma is close to Rs 300 crore and it is expected to close the deal by 2028 against the amount,” a source familiar with the developments said. 

According to Hemant Malik, Wholetime Director, ITC, the addition of Prasuma into ITC’s portfolio will help it build a full stack of frozen and ready-to-cook foods portfolio. “With Good-for-You, first-to-market products, across cuisines, we believe that the combined portfolio will delight our discerning consumers. This investment reaffirms our commitment to building future-facing, best-in-class, innovative portfolios,” he said. 

Malik’s enthusiasm is not without a rationale. ITC already has a wide range of frozen foods portfolio under its ITC Master Chef brand, comprising over 50 RTC items, frozen snacks and Indian breads with a reach of over 200 towns. 

At a time when both segment-focused brands like Carnivor or Meatzza and traditional fast-moving consumer goods makers such as Godrej, are out to lure urban consumers, ITC’s move may prove to be crucial in its market presence. 

"With the industry at an inflexion point, this acquisition will help strengthen and expand ITC’s presence in the aforesaid categories by gaining entry into high growth segments, viz. Pan Asian foods, Deli meats, etc. With the proposed acquisition, ITC will become the first full-stack player in the segment with an unparalleled portfolio, offering meals and snacking options across multiple occasions throughout the day for the discerning consumer. ITC Master Chef and Prasuma shall also benefit from significant synergies through well-designed institutional mechanisms and enablers,” the company said.

The tax relief in the union budget FY26 and the repo rate cut by the Reserve Bank of India (RBI) are likely to boost demand for the Rs 10 lakh to Rs 25 lakh car segment, a top company official at Mahindra & Mahindra told reporters.

The RBI on February 7 cut the repo rate by 25 basis points at 6.25%. “Demand is going to be very robust for products Rs 10 to Rs 25 lakh in the country. And our strategy is to play in the Rs 7-25 lakh category,” says Rajesh Jejurikar, Executive Director- auto & farm division at Mahindra & Mahindra.

According to Dr Anish, Group CEO of Mahindra & Mahindra, tax relief will create demand stimulus for the middle class. “We believe the fundamentals for the Indian economy are very strong, and we've seen some blips in the short run, the relief, in terms of taxation for the middle class, puts more money in their hands, and that will create a demand stimulus, which is going to help and in turn, translate to greater capex from a private sector as well, which has also been an area that has been lacking in some way…. And similarly, the rate cut also will help in terms of creating a little bit more of a demand stimulus. So, both are positive moves from an economic standpoint,” says Shah.

Mahindra & Mahindra reported a 19% increase in year-on-year profit to Rs 2,964 crore, whereas the revenue from operations surged by 20% YoY to Rs 30,538 crore in the October to December quarter of FY25 on the back of strong SUV (sports utility vehicle) demand. The company continued to dominate the SUV market, with the SUV market share at 23%.

The company, which launched its flagship born-electric models — BE.6 and XEV.9e in December last year— will begin bookings of the EVs beginning February 14 this year. The company will initially roll out 5,000 units of BE.6 and XEV.9e

The Centre remains confident of completing the privatisation of IDBI Bank in the next financial year and expects the financial bids for the transaction to be invited by next month.

“The disinvestment of IDBI Bank is on track. We expect it to be completed by the middle of this year. Financial bids will be called by end of March,” an official source said.

According to sources, the due diligence process by the bidders is currently ongoing. They are now getting access to confidential data of the bank to assess its financial position and decide upon the bank’s valuation and their financial bids.

The Reserve Bank of India has already completed the fit and proper assessment of the bidders.

“When the IDBI Bank stake sale goes through, this will be the largest privatisation exercise since the disinvestment of Air India,” noted the source.

As part of the disinvestment of IDBI Bank, the Centre along with Life Insurance Corporation of India will sell 61% stake in the lender, along with the management control. This includes 30.48% stake of the Government of India and 30.24% of LIC.

The process of the bank’s privatisation has been long drawn, starting way back in January 2023 when the Centre had issued an Expression of Interest. Since then, the transaction has gone through several steps and processes with the financial bids being one of the very last processes.

For now, officials remain tight lipped about the realisation from the stake sale. For 2025-26, the Union Budget has estimated raising Rs 47,000 crore from disinvestment and asset monetisation and no separate figure has been ear marked from the sale of IDBI Bank.

The bank reported a 31% increase in its net profit for the third quarter of the fiscal at Rs 1,908 crore compared to Rs 1,458 crore in the same period a year ago.

The Patanjali Group has collaborated with IBSFINtech, a renowned global leader in Treasury Management Solutions. The integration of IBSFINtech’s platform with Patanjali’s current ERP system will transform the treasury and trade finance operations. The implementation of an Integrated Treasury Management Solution marks a significant milestone in the Group's digital transformation.

The real-time analytics and actionable insights provided by the system create a connected ecosystem for Patanjali, enhancing risk management, organisational agility, and resilience through informed decision-making.

The integration of the Integrated Treasury Management Solution (ITMS) represents a major advancement in Patanjali's digital transformation. Through providing real-time analytics and actionable insights, the platform establishes a unified environment that enhances risk management, organisational flexibility, and resilience. This empowers Patanjali to make well-informed decisions and improve operational efficiency throughout its worldwide operations.

Patanjali Group’s commitment to technological innovation is demonstrated through the incorporation of AI and Machine Learning, which greatly enhances operational efficiency. This integration not only enhances financial processes but also aligns with Patanjali's objectives for global expansion, tackling challenges such as Forex management, hedging strategies, and market volatility.

Sanjeev Asthana, CEO Patanjali Foods, said: “As a global brand, this collaboration reinforces our commitment to harnessing cutting-edge solutions. The initiative not only redefines financial operations but also underscores Patanjali’s commitment to innovation. It aligns with our global expansion goals and addresses growing complexities of international operations, Forex management, hedging strategies, and market volatility.”  

Kumar Rajesh, CFO of Patanjali Group, stated: “By simplifying financial ecosystems and ensuring real-time insights, Patanjali has achieved unmatched operational transparency, agility, and resilience. These advancements have fortified governance structures and empowered the organization to navigate dynamic financial landscapes with confidence.”