Big C invests Rs 125 crore to open 250 outlets in two years, mulls IPO after FY24

#Big C, #IPO, #Mahesh Babu, #mobile handset

Representative image

Mobile handset, electronics retailer Big C on Friday said it will be investing Rs 125 crore in the next two years to open 250 new outlets focusing on tier four and five cities. The retail chain has roped in Telugu superstar Mahesh Babu as the new brand ambassador, a press release said on Friday.

“At present, we have stores in the cities with population over 70,000 in Telugu States and Tamil Nadu. Our upcoming 250 stores will come up in cities with 30,000 population or more. We will also open 10 more new stores in Tamil Nadu besides making a foray into the Karnataka market,” Balu Chowdary, Chairman and Managing Director, Big C said.

ALSO READ: Aditya Birla Sun Life AMC IPO opens on September 29, price band fixed at Rs 695-712

Big C will consider tapping capital markets via IPO ( Initial Public Offering) after reaching Rs 2,000 crore turnover in FY24. The company, which enjoys 30 per cent market share in Telangana and Andhra Pradesh, currently employs 2,000 people and is also into online sales, according to the release.

The company is looking at crossing Rs 1,000 crore turnover mark in the current financial year, thus reaching pre-Covid levels and is targeting Rs 1,500 crore in the next fiscal. Big C which opened its first store in Vijayawada in 2002 currently operates 250 stores across Telangana, Andhra Pradesh and Tamil Nadu. The new stores will take its outlet count to 500. The company will invest Rs 50 lakh on each new store which will generate eight to ten jobs, it said.

As a part of its plans to go beyond mobile handset retailing, the company will introduce laptops shortly besides expanding its audio portfolio.

Internet Explorer Channel Network
News Related


Tesla may accept Bitcoin again, believes in its ‘long-term potential'

Elon Musk had earlier tweeted that Tesla had bought $1.5 billion worth of Bitcoin.[Image: Reuters] Electric car company Tesla may resume accepting Bitcoin in the future, it said in a ... Read more »

PIL in Bombay HC seeks to restrain Nawab Malik from making comments against NCB

“The state-wide bandh will commence from 12 midnight,” NCP spokesman and state minister Nawab Malik said on Sunday. A city resident has filed a PIL in the Bombay High Court, ... Read more »

Businesses expect economy to get worse - ANZ survey

By RNZ Businesses remain upbeat about their outlook despite lockdown restrictions and surging inflation. ANZ Bank’s monthly survey of sentiment shows companies are more confident about their own outlook but ... Read more »

Mudrex offers Coin Sets: Do they make investing in cryptocurrencies simpler?

What do you do if you cannot decide which share you wish to buy and when? Invest in a mutual fund. Mudrex, a US-headquartered but home-grown crypto asset manager, offers ... Read more »

Sept factory output falls 1.28% y/y

The manufacturing production index (MPI) for September showed a smaller than expected drop of 1.28% from a year earlier, the Industry Ministry said on Wednesday. This followed an easing of ... Read more »

Bajaj Finance stock in focus after Q2 profit jumps 53% YoY; brokerages expect 14% further upside

Bajaj Finance share price is in focus, a day after the company declared its September quarter results. The leading non-banking finance company clocked a 53.5 percent year-on-year growth in consolidated ... Read more »

Democrats Unveil Tax Plan to Financing Biden Agenda

Photo: ANP Leading Democratic senators on Tuesday (local time) presented tax bills that should help fund President Joe Biden’s social and climate policies. The plan, which consists of two parts, ... Read more »

Neobank Zolve raises $40 million in Series A round at a valuation of $210 million

Raghunandan G, Founder & CEO of Zolve Neobank Zolve said on October 27 that it has raised $40 million in A Series A round of funding led by partners of ... Read more »

Subsidy clawback, 10-year MOP for new prime location HDB flats to keep them affordable

The PLH model will apply only to future public housing in prime locations, like the Great Southern Waterfront (pictured), and not to existing flats. SINGAPORE – Future Housing Board (HDB) ... Read more »

Vividthree shares jump on potential blockchain, NFT gaming opportunities

SINGAPORE – Shares of digital content producer Vividthree Holdings rose sharply on Wednesday morning (Oct 27) after the company said it is exploring opportunities in the fast-growing gaming sector to ... Read more »

Asian Paints, Berger Paints hike prices in highest-ever increase

Paint companies Asian Paints, Berger Paints have hiked their prices in the largest-ever increase in the country, effective after Diwali, brokerages reported on October 27. Asian Paints, the market leader ... Read more »

Lavrov disagrees with EU call to prohibit oil field development in Arctic

In an interview with The Financial Times, Store lashed at the EU initiative to prohibit oil and gas drilling in the Arctic region Read more »

Russia's Geropharm signs agreement on Russian insulin in Brazil — source

The document was signed on the sidelines of the 11th session of the Russian-Brazilian intergovernmental commission on economic and scientific cooperation Read more »

US bans China Telecom

The China Telecom logo seen in Shanghai. Its US unit was targeted by regulators. WASHINGTON: US regulators on Tuesday terminated the authorization for China Telecom's American subsidiary to conduct business ... Read more »

Some airlines risk failure if they do not cut emissions faster: Report

Some airlines risk failure if they do not cut carbon emissions quicker in the next three to five years due to a mismatch between short-term corporate travel targets and the ... Read more »

Obesity kills over 4 million in US annually; safe, underutilised treatments can help

According to new findings, safe and non-invasive obesity treatments that are underutilised can help fight the obesity epidemic in the US which kills over four million people annually. According to ... Read more »

Dr Lal PathLab Consolidated September 2021 Net Sales at Rs 498.40 crore, up 15.4% Y-o-Y

Reported Consolidated quarterly numbers for Dr Lal PathLabs are: Net Sales at Rs 498.40 crore in September 2021 up 15.4% from Rs. 431.90 crore in September 2020. Quarterly Net Profit ... Read more »

Newgen Software Standalone September 2021 Net Sales at Rs 169.44 crore, up 16.71% Y-o-Y

Reported Standalone quarterly numbers for Newgen Software Technologies are: Net Sales at Rs 169.44 crore in September 2021 up 16.71% from Rs. 145.17 crore in September 2020. Quarterly Net Profit ... Read more »

Hong Kong stocks fall the most in three weeks as tensions in US-China relations resurface

Hong Kong stocks dropped by the most in three weeks, as the sudden flare-up in US-China tensions weighed on sentiment. The Hang Seng Index fell 1.6 per cent to 25,634.35 ... Read more »

Demand for homes in frontier town Sha Tau Kok rises after government unveils plan to develop Northern Metropolis near mainland China border

Properties in Sha Tau Kok, a sleepy town in the far north of Hong Kong, have enjoyed a spurt of popularity after the government unveiled plans to develop the northern ... Read more »

Newgen Software Consolidated September 2021 Net Sales at Rs 185.50 crore, up 19.67% Y-o-Y

Reported Consolidated quarterly numbers for Newgen Software Technologies are: Net Sales at Rs 185.50 crore in September 2021 up 19.67% from Rs. 155.01 crore in September 2020. Quarterly Net Profit ... Read more »

Symphony Consolidated September 2021 Net Sales at Rs 220.00 crore, up 15.18% Y-o-Y

Reported Consolidated quarterly numbers for Symphony are: Net Sales at Rs 220.00 crore in September 2021 up 15.18% from Rs. 191.00 crore in September 2020. Quarterly Net Profit at Rs. ... Read more »

Kotak Mahindra Standalone September 2021 Net Interest Income (NII) at Rs 4,020.56 crore, up 2.74% Y-o-Y

Reported Standalone quarterly numbers for Kotak Mahindra Bank are: Net Interest Income (NII) at Rs 4,020.56 crore in September 2021 up 2.74% from Rs. 3913.21 crore in September 2020. Quarterly ... Read more »

Air freshener sold at Walmart recalled over ‘rare and dangerous' bacteria

Walmart has recalled The Better Homes and Gardens Essential Oil Infused Aromatherapy Room Spray with Gemstones due to it containing a dangerous bacteria. Christopher Sadowski An air freshener sold at ... Read more »

Evergrande's crisis puts Hong Kong-China debt restructuring accord to the test before ink runs dry on pilot agreement

A cross-border arrangement between Hong Kong and Beijing over corporate restructurings could soon face its first real test as China Evergrande Group, the world’s most indebted property developer, teeters back ... Read more »

China industrial profit growth accelerates despite rising price of coal, supply shortages, power rationing

Profits at China’s industrial firms rose at a faster pace in September even as surging raw material prices and supply bottlenecks squeezed margins and weighed on factory activity. Profits jumped ... Read more »

Lantau's popularity grows among bankers, lawyers looking to rent luxury property as pilots desert the island

Local residents, bankers and lawyers have replaced pilots as top renters of luxury property in Lantau amid diminished prospects in the aviation industry, according to property agents. Rents of high-end ... Read more »

MC Interview | Cautious in near term after over appreciation in last 2-3 months: Vinod Nair of Geojit

Vinod Nair, Head of Research at Geojit Financial Services, said they are cautious in near term because of over appreciation of the stock market during the last two-three months. “Muted ... Read more »

Semiconductor firm Infineon partners CapitaLand, Hyundai to invigorate start-up innovation in Asia

SINGAPORE – Infineon Technologies has joined forces with Singapore’s CapitaLand Investment and South Korea’s Hyundai Motor Group in a bid to help start-ups across Asia develop innovative solutions and applications ... Read more »

L&T Q2 Preview | Adjusted profit may grow around 50%, commentary on execution & order inflows key to monitor

Engineering and infrastructure major Larsen & Toubro on October 27 is expected to show around 50 percent year-on-year growth in adjusted profit for the quarter ended September 2021, experts feel. ... Read more »

Cryptocurrency Prices Today on October 27: Bitcoin, Dogecoin falls, Ethereum slightly up

Bitcoin (Image: Reuters) Cryptocurrency prices are mostly in the red on October 27. The global cryptocurrency market cap is Rs  192.78 lakh crores, a 1.93 percent decrease over the last day, ... Read more »

Fuel price hike, COVID-19 safety impact festive shopping in Delhi, says survey

Petrol and diesel prices differ from state to state depending on the incidence of local taxes. (Representative image) COVID-19 safety and impact on household budget by the steady rise in ... Read more »

What to look for as Chinese EV makers like BYD, Nio, Xpeng roll out earnings

BYD's Han electric car, pictured here at the 2021 Shanghai auto show, is one of the most popular new energy vehicles in China.Evelyn Cheng | CNBC China's best-known electric car ... Read more »

Tech company earnings reports reveal a rising risk for any business reliant on advertising revenue

Microsoft CEO Satya Nadella speaks at Microsoft Developer Day in Singapore on May 27, 2016.Charles Pertwee | Bloomberg | Getty Images Microsoft is no stranger to supply chain challenges in ... Read more »

Federal judge rejects Southwest Airlines pilots' request to block vaccine mandate

A Southwest Airlines jet sits at a gate at Orlando International Airport in Orlando, Florida, U.S., October 11, 2021.Joe Skipper | Reuters A federal judge in Texas denied Southwest Airlines ... Read more »

Al Gore Launches Pro-Climate Asset Management Fund Just Climate

Photo: ANP Former US Vice President Al Gore and financier David Blood have established an asset management fund to tackle global carbon emissions. Just Climate, as the fund will be ... Read more »

US President Joe Biden urged not to impose CAATSA sanctions on India

Joe Biden addressing UN General Assembly (Image: Twitter/@ANI) Two powerful US Senators on Tuesday urged President Joe Biden not to impose provisions of the punitive Countering America’s Adversaries Through Sanctions ... Read more »

Exports fare better than expected in September

Exports fared better than expected in September boosted by trade partners' economic recovery, the baht's weakness and the government's proactive export promotion. The Commerce Ministry reported on Tuesday customs-cleared exports ... Read more »

Robinhood sets out plans to be a 'super app' Food delivery app to launch new services

A Robinhood delivery driver on his way to deliver food. Robinhood, a Thai food delivery platform under Siam Commercial Bank (SCB) group, plans to raise funds next year and launch ... Read more »
On you will find lots of free English exam practice materials to help you improve your English skills: grammar, listening, reading, writing, ielts, toeic