MAM
Kotak Mahindra Bank gets new head of corporate and investments
MUMBAI: TV Raghunath has been appointed as the new head of corporate and investment banking at Kotak Mahindra Bank. His new position will see him focussing on covering the larger corporates in India in an integrated manner, with the help of the current Kotak Investment Banking senior executive director, Chetan Savla, as well as continuing to oversee Kotak Mahindra Capital Company (Kotak Investment Banking).
Raghunath’s former post as managing director and CEO of Kotak Investment Banking is now taken up by S Ramesh — a veteran in the capital markets with extensive experience in handling marquee transactions, who can be credited with introducing many landmark initiatives in the Indian capital markets.
In addition, Sourav Mallik has moved up to become the joint managing director of Kotak Investment Banking, while the Equities business will be headed by V. Jayasankar. Pankaj Kalra is expected to play a significant leadership role in coverage and ideation for corporates in the Corporate Advisory Group of the investment bank.
Investment Banking corporate president KVS Manian said, “As I contemplate the future, I am excited about the significant opportunities that exist for us as a group to build a high-quality corporate franchise. With these organizational changes, I am confident that we are well structured to achieve the next level of growth.”
Brands
Hocco crosses Rs 530cr revenue in two years
Sauce.vc-led Rs 100cr raise values ice cream brand at Rs 2,500cr pre-money as quick commerce hits 20 per cent of sales.
MUMBAI: Hocco has just scooped a seriously sweet milestone crossing the Rs 530 crore revenue mark in just two full years of operations. The fast-growing Indian ice cream and indulgence brand announced it has raised Rs 100 crore in fresh capital led by Sauce.vc. The round values the company at Rs 2,500 crore pre-money and underscores investor confidence in its rapid scale and distinctive India-first approach.
Founder Ankit Chona said the brand’s success stems from solving real Indian challenges extreme summer heat, fragmented cold chains and culturally rooted tastes. “In India, product development doesn’t end in the lab. It only ends when it survives the street,” he noted. This philosophy has produced viral hits such as Aamchi mango ice cream, BIX cake-sponge sandwiches, the Oh cone and culturally relevant collaborations like Haldiram’s Barfi and festive Modak specials.
Hocco currently operates manufacturing facilities in Ahmedabad and Panipat with a production capacity of approximately 3 lakh litres per day, running near full capacity in peak season. The fresh capital will help expand this to around 4.5 lakh litres per day.
Quick commerce has emerged as a major growth engine, now contributing ~20 per cent of overall business and growing nearly 2x year-on-year. The channel has boosted product discovery, increased consumption frequency and helped extend ice cream beyond its traditional seasonal limits.
Sauce.vc founder Manu Chandra said, “At Sauce, we believe that when you chance upon an outlier business, you double down with stronger conviction. We see Hocco as just that.”
With a strong innovation pipeline, deeper distribution and continued focus on cultural relevance, Hocco is entering its third year aiming to capture even more mind space and market share. In a category long dominated by legacy players, this young brand is proving that the coolest way to win is to build for India’s realities, one scoop, one street and one satisfied craving at a time.
