Brands
Diageo enters e-alcohol space with Rs 270 mn investment in HipBar
MUMBAI: Diageo India, the country’s leading beverage alcohol group, through its legal entity United Spirits has made an equity investment in HipBar, a payment technology start-up that serves the needs of the beverage alcohol industry and its consumers, through a mobile wallet and delivery app.
Diageo has acquired a 26 per cent equity stake in HipBar for Rs 270 million.
Diageo India is committed to transforming the beverage alcohol industry and with this investment, the company will support HipBar’s digital ambition and help expand its footprint across more markets. HipBar unlocks the industry’s need to provide better experiences, promote responsible consumption and digitally connect brands, retail stores and consumers through a common digital platform.
https://www.hipbardelivery.com
With the HipBar app, age verified consumers can browse a range of alcoholic beverages, select a brand of their choice and pay through the mobile wallet to have the product delivered at their doorstep (where permitted) or pick it up from a retail store at their convenience.
HipBar has developed a stringent age verification process as well as highly compliant standard operating procedures to ensure that the company’s delivery service fosters a safe drinking environment in India.
On the B2B front, HipBar works closely with the beverage alcohol industry and the government to custom build software and deploy technology projects that will help the category to move forward in a compliant and sustainable manner.
Some of these digital initiatives include last mile alcohol delivery platform, SaaS based e-governance module for use by governments, HipBar point-of-sale for standalone licenced retail stores and HipBar Pay for government controlled retail stores.
Founded in 2015, HipBar operates in Bengaluru and Chennai.
Diageo India CEO and managing director Anand Kripalu says, “E-commerce is making an impact on just about every industry imaginable, and the beverage alcohol industry is set to be the next sector to be disrupted by the continued shift to digital. This investment allows us to discover ideas that anticipate shifts in consumer behaviour and enables us to remain at the forefront of trends.”
HipBar will continue to run as an independent enterprise driven by its founding team.
HipBar founder Prasanna Natarajan mentions that the company’s interest will always be subservient to how HipBar is performing in the social sphere and if it is indeed bringing the intended benefits of technology to help people drink more responsibly.
Brands
YES Bank hands the keys to SBI veteran Vinay Tonse as it bets on a new era
Former SBI managing director appointed as YES Bank’s new MD and CEO
MUMBAI: YES Bank is done rebuilding. Now it wants to grow. The private sector lender has appointed Vinay Muralidhar Tonse as managing director and chief executive officer-designate, with RBI approval secured and a start date of April 6, 2026 confirmed. The three-year term signals the bank’s intent to shift gears from crisis recovery to full-throttle expansion.
Tonse, 60, is no stranger to scale. Most recently managing director at State Bank of India, he oversaw a retail book of roughly $800bn in deposits and advances, one of the largest in the country. Before that, he ran SBI Mutual Fund from August 2020 to December 2022, a stint that saw assets under management surge from Rs 4.32 lakh crore to Rs 7.32 lakh crore across market cycles. Add stints in Singapore and four years leading SBI’s overseas operations in Osaka, and the incoming chief arrives with a genuinely global CV.
His academic grounding is equally solid: a commerce degree from St Joseph’s College of Commerce, Bengaluru, and a master’s in commerce from Bangalore University.
The appointment follows an extensive search and evaluation process by the bank’s Nomination and Remuneration Committee. NRC chairperson Nandita Gurjar said the committee unanimously backed Tonse, citing his leadership track record, governance credentials and ability to drive the bank’s next phase of transformation.
Non-executive chairman Rama Subramaniam Gandhi was unequivocal. “I am certain that Vinay Tonse, with his vast experience as a senior banker, will propel YES Bank to its next phase of growth,” Gandhi said, adding that the bank remains focused on strengthening its retail and corporate banking franchises and expanding its branch network.
Rajeev Kannan, non-executive director and senior executive at Sumitomo Mitsui Banking Corporation, the bank’s largest shareholder, said Tonse’s experience across retail, corporate banking, global markets and asset management positioned him well to lead the lender. SMBC said it looks forward to working with Tonse and the board as YES Bank pursues its ambition of becoming a top-tier private sector lender anchored in strong governance and sustainable growth.
Tonse succeeds Prashant Kumar, who took the helm in March 2020 when YES Bank was in freefall following a severe financial crisis, and spent six years painstakingly stabilising the institution, rebuilding governance and restoring operational scale. Gandhi was generous: “The bank remains indebted to Prashant Kumar, who is responsible for much of what a strong financial powerhouse YES Bank is today.”
Tonse, for his part, struck a purposeful note. “Together with the board and my colleagues, I remain deeply committed to creating long-term value for all our stakeholders,” he said, pledging to build on Kumar’s foundation guided by his personal motto: Make A Difference.
Beyond the balance sheet, Tonse played cricket at college and club level and represented Karnataka in archery at the national championships — sports he credits with teaching him teamwork, situational leadership, discipline and focus. In quieter moments, he reaches for retro Kannada music, classic Hindi songs, and the crooning of Engelbert Humperdinck, Mukesh and Kishore Kumar.
YES Bank has its steady-handed rebuilder in Kumar to thank for survival. Now it has a scale-obsessed growth banker at the wheel. The next chapter starts April 6.
