Hush-hush tales from the world of stock markets, banking, corporate world and corridors of power
Last Updated: July 13, 2022 / 08:31 AM IST
A party hosted by a prominent investor in the national capital was the talk of the town. Everyone from top venture capitalists to founders to editors were in attendance to greet and wish the investor on his new venture. The spotlight, however, was on two normally reticent founders who are also fierce rivals. Both decided to let their hair down. While one rocked the dance floor with his spouse, the other was serving shooters to everyone present! We hear the party ended at 4:30 am, in the middle of a working week. Did the ‘party animal’ benchmark just get a tad higher?!
The country’s oldest bourse had begun the search for a new MD & CEO a few months back and had appointed a top headhunting firm to oversee the key process. A little birdie tells us that the race for the corner office at Dalal Street is in the final lap and has narrowed down to two candidates. The board met recently and both the candidates are apparently ‘internal names’ is the birdie’s feedback. Hmmm...the plot thickens…Any guesses, folks?
BOOKING PROFITS AND HOW!
A veteran investor who has been busy reviewing some of his core holdings in recent times may be looking at more of the same in the coming days. At least that’s the gupshup in market circles. Recently, he trimmed his stake in a firm which shares its name with a US carrier which wants to take on ‘air rage’. Now we hear he is looking to book profits in two players in the pharma and healthcare space.
THE CHURN FACTOR
The last few months have seen key executive movements galore in India Inc and the advisory world and we at Moneycontrol have covered many of them in our Corporate Crossings series. The markets cheered the shift of this well-known CEO to a consumer firm backed by a private equity fund. Then there is buzz around a record movement of more than 60 lawyers across verticals from one firm to another, arguably the biggest ever such move in the history of domestic corporate law firms. Now we hear that a global private equity fund which backs tech players and a few high-fashion labels is in hiring mode for its India operations and may tap someone from a rival outfit. The churn continues!
DEALS IN THE FAST LANE
Buzz is that a fundraise (read QIP) mandate for a small cap player in the auto space which was earlier rumoured to be with two domestic investment banks has now fallen in the lap of a global bank. Meanwhile, the electric vehicle (EV) revolution has led to a spate of deals in the segment involving Tata Motors, Mahindra & Mahindra and TVS Motors (said to be in the works). All eyes now on the next move of the player (it set up an EV manufacturing facility last year) who joked about having his startup rivals (read ‘OATS’) for breakfast. Will it also embark on a fundraising drive and induct an overseas investor?
REALTY DEAL METER
Healthcare and hospitals may be the current flavour of the season when it comes to M&As, but we pick that there are a few large deals which are brewing in the realty sector as well. Here’s one of them. Grapevine suggests that a listed player is in fundraising mode...perhaps for the first time since it made its debut on the domestic bourses.
LET THE MOOLAH FLOW
What does an employee like more than his salary? An offer in hand! That said, two newly minted asset management companies are busy trying to outdo each other in handing out jobs from fund management to sales. Lucky days for employees who will be laughing all the way to the bank. Watch this space for more!
THE SEARCH FOR THAT ELUSIVE CMO
A certain famous fintech company’s advertising game has attracted some of the finest writers and celebrities, but not a CMO yet. A close associate of this buzzy brand says the founder likes to be personally involved in cracking marketing and ad strategies and developing storyboards. So, it seems, he hasn’t found the right match, someone who has better plans than his in-house creative team and independent partners. Perhaps this founder should hold auditions to find the perfect CMO.
WHERE IS THE MOJO?
People churn continues at a global ad network company that’s been in the news for close to 11 months. Several senior executives, who were a part of the launch teams of this network’s flagship agencies, have lost their "purpose" to stick around. These potential next-gen leaders have been struggling to put their case forward because their founders moved on several months ago. They have no one to back them anymore, they say. At a time when the network is grappling to keep its best people in, these executives wonder if the group's latest rebranding exercise has any sense of purpose? Worth mulling over.
Note to the Readers : Chances are you love a juicy story as much as we hacks do and you might have one to
share. Please share the story in an email to MCInsider@nw18.com.
Also, spare a moment to tell us what you think of this series. Send your hosannas and howls to the same email address.