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.
MAM
Flipkart promotes Kunal Gupta to SVP amid quick commerce push
Minutes head to lead expansion as dark store network set to hit 1,600
MUMBAI: In the race where minutes matter, Flipkart is betting on a familiar hand to move faster.Flipkart has elevated Kunal Gupta, vice president and head of Minutes and grocery, to senior vice president, signalling a sharper focus on its quick commerce ambitions. The move, confirmed via an internal email reviewed by Moneycontrol, comes as the Walmart-owned firm doubles down on high-frequency delivery, positioning its Minutes vertical as a key growth engine.
According to Flipkart CEO Kalyan Krishnamurthy, Gupta brings a proven track record in turning around businesses and scaling high-growth categories, having led roles across fashion, mobiles and large appliances during his tenure at Flipkart.
Gupta, who joined the company in 2014, has spent over a decade across multiple business units and most recently steered the Minutes and Grocery vertical. In his new role, he will continue to oversee Minutes and report directly to Krishnamurthy.
The elevation comes at a time when competition in quick commerce is intensifying, with rivals such as Amazon (via Amazon Now), Blinkit, Zepto, Swiggy (through Instamart) and BigBasket all racing to capture market share.
Flipkart is also gearing up to launch a standalone app for Minutes currently housed within the main platform marking a shift towards a more dedicated, speed-first user experience for grocery and essentials.
On the infrastructure front, the company is set to double its network of dark stores to 1,600 in the coming months, underscoring the scale of its push.
As the quick commerce battle heats up, Flipkart’s message is clear, speed isn’t just a feature, it’s the strategy.
