Financials
UK private equity fund acquires 33 per cent in Nimbus for Rs 2 billionUK private equity fund acquires 33 per cent in Nimbus for Rs 2 billion
MUMBAI: UK-based private equity and venture fund 3i is acquiring around 33 per cent stake in Mumbai-based Nimbus Communications for $45.50 million (approx Rs 1.97 billion), a move which will mark its entry into the Indian market.
The money will be deployed to fund sports rights acquisitions, develop global sports events, augment long term working capital, invest in TV production and infrastructure expansion, finance Indian language and international film production, Indian language film distribution, mobile content distribution, and develop further digital content production for wireless and video on demand platforms.
Nimbus will explore investments in sports and lifestyle broadcasting. Says Nimbus Communications executive chairman Harish Thawani,“3i was able to combine its global media expertise and local execution skills to speedily conclude this investment. But above all, the chemistry between us has been fantastic and we share a common belief in the global abilities of Nimbus and that’s where I believe 3i will add strategic value.”
Talking about 3i’s entry into the Indian market, managing director and co-head Asia Anil Ahuja says, “3i likes companies that seek aggressive growth tempered by prudent capital management. 3i believes that Nimbus with its impressive track record, management depth and global business strategy is well positioned to achieve its goal of becoming a billion dollar company by 2010.”
London-based financial services consultant Euromax Capital was exclusively mandated in this transaction. Says Euromax Capital managing director Darshan Desai, “We have been at the forefront of building bridges between Western capital and Eastern enterprise. In this landmark deal, the largest private equity investment in the Indian entertainment industry, Euromax Capital has catalyzed the first Indian investment by Europe’s premier private equity house- 3i- into Nimbus which is India’s leading sports & media company.”
Nimbus has a business mix of television, sports, motion pictures and digital content. It has produced over 5,000 hours of TV programming and currently airs 15 serials every week on various channels. Nimbus Sport International, the Singapore-based subsidiary company, is a sports marketing and production company. The current contracts include the management of commercial rights of International Cricket Council events mandated by the Global Cricket Corporation, the A1 Grand Prix World Cup of motor sport mandated by Team India and the Afro Asia Cup cricket mandated by the Asian Cricket Council.
The company provides digital content to the mobile telecommunications industry and is also a fledgling producer of Indian language movies. Nimbus plans to take over a leading film distribution company soon to enter the distribution business, it said in a release.
3i is a leading global private equity and venture capital, focusing on buyouts, growth and Venture capital and investments across Europe, the US and the Asia Pacific region. In the year to 31 March 31 2005, 3i invested $1.7bn. The Group is listed on the London Stock exchange and has over 1500 portfolio companies.
MUMBAI: It’s time to brief the markets: Page Industries is showing that even when regulations tighten, it can still keep its footing in the innerwear business. The Bengaluru-based apparel major has reported its financials for the quarter ended 31 December 2025, delivering a performance that remains steady and well put together.
The company’s top line showed plenty of elasticity this quarter. Revenue from operations stretched to Rs 1,38,675.71 lakhs, a healthy jump from the Rs 1,29,085.82 lakhs reported in the preceding quarter. Compared to the same period last year, which stood at Rs 1,31,305.10 lakhs, it’s clear the brand’s grip on the market isn’t loosening. Total income for the quarter, including other finance gains, reached a comfortable Rs 1,39,919.03 lakhs.
However, it wasn’t all smooth silk. The Government of India’s new unified Labour Codes, covering everything from wages to social security, officially kicked in on 21 November 2025. This regulatory shift forced Page Industries to account for a one-time “exceptional item” cost of Rs 3,500.42 lakhs to cover incremental employee benefits and related obligations. Despite this Rs 35-crore legislative snag, the underlying business remained robust. Profit before tax stood at Rs 25,625.35 lakhs after the exceptional hit, and without that one-off cost, the figure would have been a more muscular Rs 29,125.77 lakhs. Net profit for the quarter came in at Rs 18,953.64 lakhs.
Total expenses rose to Rs 1,10,793.26 lakhs, driven largely by raw material consumption of Rs 30,162.65 lakhs and employee benefits of Rs 23,310.66 lakhs. Even so, the company’s operational strength ensured the bottom line remained firmly stitched together.
For shareholders, the news is particularly “fitting.” The Board has declared a third interim dividend for 2025-26 of Rs 125 per equity share. The record date has been set for 11 February 2026, with the payment scheduled on or before 6 March 2026. This follows two previous interim dividends of Rs 150 and Rs 125 declared earlier in the financial year, reinforcing the company’s commitment to sharing the spoils of its success.
Looking at the nine-month stretch ending December 2025, Page Industries has amassed total income of Rs 4,04,090.59 lakhs, with total comprehensive income of Rs 58,231.49 lakhs. While the basic earnings per share for the quarter dipped slightly to Rs 169.93, compared to Rs 183.48 in the same quarter last year, the year-to-date EPS remains a solid Rs 524.57.
Auditors at S.R. Batliboi & Associates LLP have given the results a “limited review” thumbs up, reporting no material misstatements. It seems that, as far as Page Industries is concerned, the business remains as well-constructed as its famous Jockey briefs.
