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Shivtek appoints Trusar Bagul as independent director
GURUGRAM: Shivtek Spechemi Industries has appointed Trusar D Bagul as an independent director, adding deep scientific firepower to its board as the specialty chemicals group pushes into greener manufacturing and high-value chemistry.
Bagul, who holds a PhD in organic chemistry from the National Chemical Laboratory in Pune, brings nearly three decades of experience across drug discovery, pharmaceuticals, fine chemicals and specialty chemicals. He is a prolific inventor and researcher with multiple US and Indian patents and international publications to his name.
The appointment is designed to strengthen board-level technical oversight and governance as Shivtek accelerates its R&D-led expansion into advanced and import-substitution chemistries, particularly in high-value, low-volume segments where precision and cost discipline are critical.
“We are reinforcing India’s self-reliance in the chemical sector through green manufacturing and advanced products,” said Shivtek Spechemi Industries managing director Amitt Nenwani. “Trusar Bagul’s scientific depth and advisory insight will be invaluable as we scale with discipline and strong governance.”
Bagul has held senior leadership roles across chemistry-led enterprises and currently advises pharmaceutical, biopharma and chemical companies on research and strategy. He has also undertaken post-doctoral research at Kyoto University and is a recipient of the Japan Society for Promotion of Science fellowship.
“I am delighted to join Shivtek at a pivotal stage of its growth,” Bagul said. “The company’s focus on sustainability, quality and global ambition aligns closely with my professional values.”
Founded in 1987, Shivtek is the flagship of the Shiva Group and operates manufacturing units in Kurnool, Rajpura and Dahej, exporting to more than 75 countries. Its capacity has scaled to 150,000 MTPA, as it positions itself as a global hub for green specialty chemistry.
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UK’s OnlyFans seeks US investor at $3bn valuation after owner’s death
The adult video platform is seeking stability after the death of its billionaire owner
LONDON: OnlyFans is looking for a new partner. The London-based adult video platform is in advanced talks to sell a minority stake of less than 20 per cent to Architect Capital, a San Francisco-based investment firm, in a deal that would value the business at more than $3bn (£2.2bn).
The move is driven by an urgent need for stability. Leonid Radvinsky, the Ukrainian-American billionaire who owned OnlyFans, died of cancer last month at the age of 43, leaving the future of one of Britain’s most profitable privately held businesses suddenly uncertain.
The choice of Architect Capital is not arbitrary. The firm has deep expertise in financial services, which aligns neatly with OnlyFans’ ambitions to offer banking products to its creators, many of whom have long struggled to access basic financial services because of the nature of their work.
The numbers behind OnlyFans are, by any measure, staggering. The platform posted revenues of $1.4bn in the year to 30th November 2024, with a pre-tax profit of $684m, up four per cent on the prior year. Payments to creators totalled $7.2bn over the same period, a rise of nearly ten per cent. Radvinsky personally collected $701m in dividends from the business in 2024 alone, on top of more than $1bn in such payments he had already received. The platform, run through its parent company Felix International, hosts 4.6m creator accounts, with performers keeping 80 per cent of subscription proceeds and the platform pocketing the remaining 20 per cent. It has 377m fan accounts in total.
The current minority stake talks represent a notable scaling back of ambitions. In January, OnlyFans was reported to be in discussions with Architect about selling a majority stake of 60 per cent. Before that, the company had explored a sale to a consortium led by Forest Road Company, a Los Angeles-based investment firm. Neither deal materialised.
OnlyFans has built an enormously lucrative business on content that mainstream finance has long refused to touch. Now, with its owner gone and a $3bn valuation on the table, it is looking for the kind of respectable institutional backing that might finally persuade the banks to take its calls.
