MAM
Capri Global acquires franchise in UAE’s T20 League
Mumbai: Capri Global Group on Wednesday announced that it has acquired a franchise in UAE’s T20 league.
Promoted by first-generation entrepreneur Rajesh Sharma, Capri Global has varied interests across sectors including key ventures such as a non-banking financial company, stressed assets fund and sports venture. Its subsidiary Capri Global Capital is a non-deposit-taking systemically important non-banking financial company with a $ one billion+ market cap, said the statement.
Capri Global Capital managing director Rajesh Sharma said the foray into sports franchising allows the company to leverage on the passion that the Indian audience has for cricket. “We see great synergy coming through this alliance, including a host of exciting moments that are set to elevate the cricketing experience for our Indian audience at the global platform. We believe that the land of opportunity through its sports IP has created an image that accurately depicts what represents the UAE,” he added.
“To have a partner who is acknowledged as one of India’s leading investment bankers, buying into the UAE’s T20 vision and investing into sports properties with a long-term investment perspective is a testament to the strength of UAE’s T20 League’s Business Model and its value proposition to its stakeholders and an ode to the UAE as the destination of choice for global sports events,” commented Emirates Cricket Board vice chairman and UAE T20 League chairman Khalid Al Zarooni.
“We are extremely pleased that a legendary investment professional like Rajesh Sharma has chosen to partner with the UAE’s T20 League. This is a resounding thumbs up to the unique opportunity that UAE’s T20 league offers,” added Emirates Cricket Board general secretary Mubashshir Usmani.
Brands
Nykaa eyes majority stake in Deepika Padukone’s 82°E brand
Deal could help scale premium label as Nykaa sharpens its beauty play
MUMBAI: Nykaa is in advanced discussions to acquire a majority stake in 82°E, the premium skincare label founded by Deepika Padukone, according to media reports.
The proposed deal signals Nykaa’s intent to deepen its House of Nykaa portfolio while giving 82°E the scale it has struggled to achieve independently. Padukone is expected to retain a minority stake if the transaction goes through.
For Nykaa, the play is both strategic and timely. With a customer base of over 42 million, the company is betting on its strong distribution, logistics, and repeat purchase ecosystem to revive the brand’s momentum. The two sides already share a working relationship, with Padukone serving as Nykaa’s global brand ambassador since September 2025.
Launched in late 2022, 82°E entered the market with a premium positioning but has faced headwinds. The brand reported revenue of Rs 14.7 crore in FY25, down 30 per cent year on year, alongside losses of Rs 12.26 crore. Industry observers have pointed to steep pricing, a somewhat diffused brand identity, and intense competition from digital-first labels as key challenges.
The potential acquisition also reflects a broader shift in India’s beauty and lifestyle space, where celebrity-led brands are increasingly partnering with larger corporates to unlock scale. Alia Bhatt’s Ed-a-Mamma, for instance, sold a majority stake to Reliance Retail, while Katrina Kaif’s Kay Beauty has emerged as a standout success within Nykaa’s portfolio, clocking Rs 132.4 crore in FY25 revenue.
Nykaa itself has been on a strong growth trajectory. Its parent, FSN E-Commerce Ventures, reported a 156 per cent jump in net profit to Rs 68 crore in the December 2025 quarter, with revenue reaching Rs 2,873 crore.
Nykaa has been steadily building its portfolio through acquisitions such as Dot & Key, Earth Rhythm and Nudge Wellness, signalling a clear push to own and scale homegrown brands.
If the 82°E deal materialises, it could mark a fresh chapter for the label, blending celebrity appeal with corporate muscle. For Nykaa, it is another calculated step in staying ahead in an increasingly crowded beauty aisle.
