Category: Corporate

Karan Virwani, CEO of WeWork India, responded with a public apology, acknowledging that the experience fell short of the company’s standards.

WeWork’s co-working space in Gurugram has come under fire after Alok Jain, founder of WeekendInvesting and an IIT alumnus, criticised the company's sales approach. Jain shared his dissatisfaction on social media platform X, accusing WeWork’s sales representative of adopting a high-handed attitude during an inquiry for office space at the Golf Course Road facility.

WeWork’s co-working space in Gurgaon has come under fire after Alok Jain, founder of WeekendInvesting and an IIT alumnus, criticised the company's sales approach. Jain shared his dissatisfaction on social media platform X, accusing WeWork’s sales representative of adopting a high-handed attitude during an inquiry for office space at the Golf Course Road facility.

The post quickly gained traction, amassing over 90,000 views and sparking a wave of comments, with many users sharing similar experiences. One commenter noted, “Sales processes have checklists, but the tone and approach matter. Some salespeople are not trained to handle larger accounts.” Another echoed Jain’s frustrations, saying, “Their sales folks have become too arrogant in recent years.”

Karan Virwani, CEO of WeWork India, responded with a public apology, acknowledging that the experience fell short of the company’s standards. “Dear Alok, I sincerely apologize for the experience you had with our customer service team,” Virwani wrote. “While our questions are intended to understand your needs better, the manner in which they were conveyed was not acceptable. We are implementing immediate changes to ensure such instances do not happen again.” He invited Jain for a one-on-one conversation to address concerns and improve services.

Despite the apology, the incident has sparked broader discussions about customer service in established brands. Many users noted a perceived decline in courtesy as brands grow, turning what should be a simple inquiry into a frustrating ordeal.
 

Zerodha co-founder Nikhil Kamath says the secret to staying ahead in business lies not in corporate strategy or generational wisdom but in watching what 16-year-olds of the country are doing, according to media reports. 

Speaking to LinkedIn CEO Ryan Roslansky on The Path video series, Kamath made a bold case for teenage intuition: “Look at what a 16-year-old boy wants and what he will need in the next 10 years. Don’t turn to the previous generation to plan 20 years ahead.”

For Kamath, the next big idea isn’t in your business playbook — it’s on TikTok or Instagram.

Kamath’s philosophy is clear: teenagers don’t just consume trends — they create them. Platforms such as  TikTok, Instagram, and YouTube are shaping the cultural and consumer landscape, making them critical spaces for businesses to study. “Look ahead, look at the younger generation for inspiration, not the older generation,” Kamath said, urging leaders to rethink how they plan for the future.

Teenagers drive changes in technology, entertainment, fashion, and lifestyle, and Kamath believes their habits provide a roadmap for what’s coming next. Ignoring these signals, he warns, is a recipe for irrelevance.

Kamath’s focus on the future isn’t limited to his market insights. As the youngest philanthropist on the Hurun India Philanthropy List, he and his brother Nithin have donated over ₹120 crore to causes like climate change and sustainability through the Rainmatter Foundation. 

The Kamath brothers consistently rank among India’s top philanthropists, and their contributions to environmental and social initiatives have made them standout figures in the global philanthropic community.

Kamath in an earlier podcast said he saw untapped potential in industries like men’s grooming, which he predicts is on the brink of explosive growth. 

“With evolving gender norms, this market… is set to blow up,” he noted, comparing it to how beauty trends for women once revolutionized industries. 

Backed by research, the men’s grooming market is expected to reach $202 billion globally by 2030, with India playing a major role. Kamath even hinted at untapped sectors, saying, “Pick what worked with women and build for men — maybe jewellery next.

It’s not very often that a consumer-facing business wants to exit it. One look at the multiples of most players in the space answers the question. They are expensive picks and have zoomed over the last two years or so, on the back of higher disposable incomes and many product categories remaining at relatively lower penetration levels. The case of the Adani group to exit its holding in food FMCG major, Adani Wilmar is not just odd but intriguing as well, according to Business Today. Most of its money (it had a revenue of over Rs 51,500 crore in financial year 2024-25) comes from edible oils, a category that offers high volumes and consequently large revenue but lower profitability (a net profit of Rs 171 crore for the same fiscal or a margin of just 0.33 per cent).

The company went public in February 2022 and with a well-set portfolio of brands in edible oils (Fortune being the most prominent) and foods, looked to be on the right track. This is really where the decision of the Adani group to move out has been a little hard to comprehend – it (Adani Enterprises) sold its 44 per cent stake, most of it (31 per cent) to Wilmar, its foreign partner and the other 13 per cent in the open market for a total of around $2 billion.
Wilmar International is a Singapore-based entity and struck up a 50:50 joint venture with the Adani Group in 1999. In edible oils, it is the leader with a market share of 20 per cent.

Let’s consider a few points here. The bribery issue that hit the Adani Group last November has led to a perception that raising money, especially in the overseas markets, will be difficult for it in the medium to short-term. Plus, there is huge debt at the consolidated level – over Rs 2.4 lakh crore across its listed companies for FY24 – provoking a few concerns. Together, they make for a case to exit a business to reduce debt before anything else.

Adani Enterprises held a 44 per cent stake in Adani Wilmar through Adani Commodities and last August, proposed a demerger of the fast moving consumer goods (FMCG) business in the food category. Consequently, it would now come directly under the promoter and promoter group shareholders. 

In October, the scheme of demerger was withdrawn. By this time, there was enough to suggest that a potential stake sale was round the corner.

Long-time Adani group trackers maintain the decision to exit the Wilmar joint venture is a way to allocate capital more smartly. “It was always on the cards. Typically, the infrastructure businesses deliver a return on equity of 14-15 per cent but that is just about 1 per cent for Adani Wilmar,” points out Deven R Choksey, Chairman and Managing Director (MD) of wealth management and investment advisory firm DRChoksey Finserv. Again, a play in commodities is restrictive. “It is hard for the company to become a HUL [Hindustan UniLever] or an ITC [Indian Tobacco Company]. The proceeds from the sale can be put to better use.”

The capex requirement for the Adani group across its businesses is estimated to be upwards of $75 billion or a minimum of Rs 7 lakh crore; these are expected to go into energy, transport, utilities and logistics. “There are multiple options available to raise funds including interest from investors in Japan and Europe. In that sense, the consumer business is only a distraction compared to other ambitious forays,” thinks Vinit Bolinjkar, Head (Research) at brokerage Ventura Securities. The objective, he says, was to get a good price. “With the $2 billion, it is possible to leverage that by 3x to raise at least $6 billion.”

The Securities and Exchange Board of India (SEBI) has unveiled a new compliance framework aimed at listed entities, introducing an integrated filing system for governance and financial disclosures. This system will be applicable for filings related to the quarter ending December 31, 2024, according to media reports.

The initiative is designed to ease compliance burdens by consolidating various periodic filing requirements into a single process. 

This change follows recommendations from an expert committee tasked with reviewing SEBI’s Listing Obligations and Disclosure Requirements (LODR) norms. 

Under the new framework, governance filings such as investor grievance redressal statements and corporate governance compliance must be submitted within 30 days after the quarter ends. However, financial filings, including disclosures on related-party transactions and quarterly results, are required within 45 days and year-end submissions will have a 60-day deadline. 

SEBI mandates the quarterly disclosure of material events, including updates on tax litigation, minor penalties, and acquisitions surpassing certain thresholds. These disclosures will be incorporated into the integrated filing format, which will replace the previous fragmented reporting system. 

SEBI has also introduced stricter eligibility criteria for secretarial auditors of listed entities to improve accountability. Only peer-reviewed company secretaries, who meet specific qualifications, can now take on these roles. 

Restrictions are also placed on auditors performing certain services, such as internal audits and compliance management, to ensure impartiality. 

The Institute of Company Secretaries of India (ICSI) has been tasked with communicating the new provisions to its members and ensuring adherence to the updated guidelines. Listed entities must also disclose details of employee benefit schemes and obtain board approval before redacting commercially sensitive information. 

The new framework also sets timelines for disclosures on shareholding patterns, credit ratings, and reclassifications, with penalties for non-compliance. 

To streamline the process further, SEBI is facilitating single filings through the BSE and NSE portals. Stock exchanges are instructed to develop systems and infrastructure to monitor and enforce the framework. 

In his New Year address to the over 46,000-strong workforce, Adani Group Chairman Gautam Adani emphasised the company's focus on unlocking the full potential of every individual, bt.com has reported. He stressed that moments of transformation require vision, courage, and the will to act. 

Adani described the previous year, 2024, as extraordinary, according to Business Today. He highlighted how the company shattered financial records, faced significant challenges, and emerged stronger, more united, and resilient. “As I’ve often said, the journey to success is rarely a straight line. Our transformation is shaped by the challenges we face, which define us. At our core, we are fearless fighters, and through these battles, we continue to evolve and excel. The storms of 2024 only strengthened our resolve. Today, we stand taller thanks to your unwavering dedication and passion. True resilience is not about surviving chaos but transforming it into a force that propels us forward,” he wrote.

He emphasised that his focus is not on numbers but on laying the foundation for the future. He discussed two key factors — technology and talent — that he believes will be the most sustainable differentiators in today’s world. He noted that capital is no longer a constraint, but the challenge lies in using it effectively. 

Adani conveyed optimism for the remarkable journey ahead. "Together, we will not merely face the challenges of tomorrow but transform them into milestones of success," he added.