Brands
Bajaj Electricals on boards Ravindra Singh Negi and Rajesh Naik; aims for aggressive growth
Mumbai:
Negi will join Bajaj Electricals in July 2022 from Havells India, where he was president of the electrical consumer durables segment. Prior to that, he spent nearly two decades in Bharti Airtel in various roles, with his final role being CEO of the Delhi and NCR telecom circle.
Additionally, the company has also announced the formation of a unified lighting business segment by combining its consumer lighting business and its professional lighting business, which will be led by Rajesh Naik. He joined Bajaj Electricals in December 2019 and in this period has led a turnaround of the illumination business taking it to the leadership position in the industry. Naik has over two decades of experience in the sector.
The reorganisation and strengthening of the company’s leadership are on the back of the ongoing and significant transformation journey. Over the last three years, Bajaj Electricals has undertaken multiple initiatives including the acquisition of further stakes in Nirlep Appliances, Starlite Lighting and the planned scheme of arrangement for a split of the entity into two independent publicly listed companies (upon a demerger of its power infrastructure business). The planned split is likely to come into effect later this fiscal. Further, the company achieved a key strategic milestone of becoming net-debt-free as of 31 March 2022. Having achieved these milestones, Bajaj Electricals is preparing for aggressive growth across its businesses in a focused manner.
Making these announcements, Bajaj Electricals executive director Anuj Poddar said, “Over the past three years, we have embarked upon a significant transformation journey at Bajaj Electricals with a clear agenda of driving growth and value creation for all stakeholders. During this period, we have consistently demonstrated our ability to deliver on the agenda with agile decisions and focused execution even amidst a tough environment. As we look forward to our next phase of this transformation, we are committed to even more aggressive growth and to driving operational excellence across our businesses. The reorganisation and strengthening of our leadership are designed to enable this. I am pleased to welcome aboard Ravindra, who comes with a stellar professional track record and strong leadership skills. I am confident that he will be able to drive the strong performance of our consumer products business. Further, in Rajesh, we already have a very strong leader who has successfully driven our lighting business to a leadership position. With his widened responsibility as head of the unified lighting business, I am sure that he will bring to fore his deep experience and a sharper focus on this overall business to re-assert Bajaj Electricals’ leadership in the Indian marketplace.”
Newly appointed Bajaj Electricals COO of consumer products business Ravindra Singh Negi added, “Bajaj Electricals is an established leader in consumer appliances with deeply entrenched brand and distribution strengths. As an industry player, I have closely watched the changes over the recent past with several new initiatives that are strengthening its competitive position as well as transforming it into a best-in-class organisation. I am excited to be joining the organisation at this juncture and to build on this momentum of transforming a strong brand legacy into a future ready consumer centric and innovative organisation. I look forward to working with the team and leaders to deliver on superior growth & competitive performance.”
Commenting on his new responsibility, Bajaj Electricals head of lighting business Rajesh Naik said “The last 2.5 years at Bajaj Electricals have been immensely challenging yet gratifying as we have successfully turned around our Illumination (professional lighting) business, driving its growth in an extremely tough market environment. We are now well poised in both the professional lighting business as well as in our consumer lighting business with several new product launches and innovations. I am confident that with this new unified Lighting Business segment we will be able to drive a much stronger go-to-market thrust, better synergies and cohesive operations. I look forward to working with our teams and channel partners to drive rapid growth for our business.”
Brands
Aman Gupta’s OFF/BEAT secures Rs 100 crore seed funding round
Bessemer backs new venture betting on AI and India’s digital shift
MUMBAI: Aman Gupta has raised Rs 100 crore in seed funding for his new venture OFF/BEAT, with Bessemer Venture Partners leading the round as it bets on a new wave of AI-led, consumer-first businesses in India.
The funding marks an early but significant push for OFF/BEAT, which is positioned to tap into a rapidly evolving market shaped by a digitally native generation and advances in artificial intelligence. The venture aims to build at the intersection of culture and technology, where brand identity and innovation increasingly go hand in hand.
Gupta, best known for co-founding boAt and scaling it into a Rs 3,000 crore-plus business, is now looking to apply those learnings to a new playbook. His focus this time is not just on building a consumer brand, but on leveraging AI and global networks to accelerate growth.
OFF/BEAT founder Aman Gupta said, “Having built from scratch before, I know what capital can do and what it cannot. This time, I was looking for partners with a global perspective who can help me leverage technology and AI, because that is where the future lies. Bessemer’s track record with companies like Anthropic, Shopify, Canva and LinkedIn says it all.”
The choice of investor reflects that ambition. Bessemer Venture Partners has backed global technology players such as Anthropic, Shopify, Canva and LinkedIn, bringing not just capital but strategic support and global reach.
Bessemer Venture Partners partner Anant Vidur Puri said, “We back founders who see around corners. Aman saw how a new India would come to think about aspiration, identity and quality, and built boAt as proof. He is now applying that same instinct to a market being reshaped by AI and by a generation with entirely new expectations.”
The investment comes at a time when India’s startup ecosystem is being reshaped by both consumer behaviour and technological disruption. Founders are increasingly expected to understand not just products, but the cultural shifts that drive adoption.
For OFF/BEAT, the journey is just beginning, but the signal is clear. In a market where attention is fleeting and expectations are rising, building something truly distinctive may be the only way to stay on beat.
