MAM
CMS Info Systems strengthens leadership with 2 key appointments
MUMBAI: CMS Info Systems, India’s largest and world’s fifth largest cash management and payment solutions firm announced two key appointments. Subhash Kelkar comes on board as chief technology officer and Vijay Iyer is elevated to vice president of the cash management business and service delivery head.
Based in Mumbai, Kelkar and Iyer will provide further impetus and direction to developing and expanding the company’s businesses across the country.
Kelkar joins CMS Info Systems from IIFL Group where he managed four of the group’s companies and represented group IT to the IIFL Board. With over 25 years of experience, he has also led the digital transformation at brands such as Club Mahindra, Tech Mahindra and TCS. At CMS, Kelkar will accelerate the company’s digital transformation in addition to managing the Managed Services Technology Projects.
In his new role, Iyer will oversee the operations in the North and Central zones and the process of building CMS as an agile commercial, finance and fleet organisation. Iyer’s appointment will help CMS’ leadership team to move forward to the next phase of growth in the cash management business. Vijay joined CMS in December 2018. He is a CIT industry veteran and has worked at Brinks, Secure Value and AGS.
With a network spanning over 105,000 ATMs and retail outlets, CMS is uniquely positioned as the backbone of the ‘circulation cycle’ of the country's economy. Cash continues to be in strong demand even post demonetisation and demand for cash will continue to grow which has resulted in rising of ATM transaction volumes. Currently, as per April 2019, the economy has again seen an uptrend in currency circulation of Rs 21.42 lakh crore, recording an increase of 17.5 per cent on a Y-o-Y basis.
Brands
Siguler Guff invests $40m in Trimex Foods to fuel India expansion
Private equity bet backs global dining brands as India’s appetite grows
MUMBAI: Siguler Guff has committed $40 million to Trimex Foods Private Limited, marking the company’s first institutional fundraise and signalling fresh momentum in India’s fast-evolving food services sector.
Trimex, which brings global names such as Chili’s Grill & Bar, PAUL and Cinnabon to Indian diners, plans to use the capital to expand its footprint across the country and add new international brands to its portfolio.
Founded in 2010, the company operates more than 50 outlets across 13 cities, employing nearly 1,900 people. It has carved out a niche as a reliable partner for global restaurant chains looking to tap into India’s growing appetite for organised dining experiences.
Siguler Guff, which manages over $18 billion in assets, is betting on that appetite only getting bigger. “India’s food services sector is undergoing a structural shift as consumers increasingly gravitate toward globally recognised dining experiences,” said Siguler Guff partner and co-portfolio manager Shaun Khubchandani.
He added that Trimex’s 15-year track record offers a scalable platform with strong execution and customer loyalty, making it well-placed to grow further with the right backing.
For Trimex, the partnership is as much about expertise as it is about capital. A company spokesperson said the firm is looking to build on its reputation for consistent, high-quality dining while tapping into Siguler Guff’s global network to accelerate growth.
The investment also reflects a broader trend of private equity firms doubling down on India’s consumer story, particularly in sectors where rising incomes and urban lifestyles are reshaping spending habits.
Ernst & Young acted as the exclusive financial advisor to Trimex for the deal.
With fresh capital on the table and global brands waiting in the wings, Trimex now appears ready to turn up the heat in India’s increasingly competitive dining landscape.
