News Broadcasting
Radio Mirchi plans to invest Rs 1.20 billion in phase II radio expansion
MUMBAI: Canada-based private equity fund Double Honour Holdings Ltd (DHHL) has exited from Radio Mirchi ahead of the initial public offering (IPO), making a profit of Rs 192 million.
DHHL has sold 10 per cent of its holdings for Rs 495 million to Bennett Coleman & Company Ltd (BCCL), promoter of Entertainment Network (India) Ltd which operates FM radio channel Radio Mirchi. The private equity fund had bought its stake in December 2002 for Rs 303 million at Rs 26 per share. DHHL sold 11,696,000 shares of Entertainment Network for Rs 42.34 per share.
Entertainment Network is planning to raise over Rs 1.55 billion, though the size of the IPO will depend on the price band which is yet to be fixed. The company will issue 12,000,000 equity shares of Rs 10 each at a premium through the book building process.
Entertainment Network has currently earmarked total One-Time-Entry Fee payments of Rs 1.20 billion in relation to the phase II policy and intends to fund this from the net proceeds of the IPO. “However, we cannot ascertain the exact number or category of licenses that we may secure in the Phase II bidding and the bid amounts that we may need to pay for obtaining these licenses. Further, we may exercise the option to migrate any or all of our Phase I licenses and the OTEF payable will be fixed on the basis of average bids placed by other bidders during the Phase II bidding process,” the company said in its draft red herring prospectus which it has filed with the Securities and Exchange Board of India (SEBI).
The company also plans to invest up to Rs 350 million from the issue proceeds in the subsidiary, TIMPL (Times Innovative Media Pvt Ltd), which is into out-of-home media and event management business. “We intend to utilise this amount by subscribing to a fresh issue of shares of the subsidiary. We will grant loans to the subsidiary. The mix for such subscription of shares or loans has currently not been determined,” the prospectus said.
The promoters (Times Intotainment Media Ltd and BCCL which are entities that are part of the Times Group) will together own 73.2 per cent stake in the company immediately upon completion of the IPO or 71.3 per cent in case the greenshoe option is exercised.
Radio Mirchi operates private FM radio stations in seven Indian cities including metropolitan cities of Delhi, Mumbai, Chennai and Kolkata. It is also the only private FM radio broadcaster in the cities of Ahmedabad, Indore and Pune.
Entertainment Network had a total income of Rs 494.62 million in the six months ended 30 September 2005, jumping 55.9 per cent over the corresponding period a year ago. The company posted a net profit of Rs 110.51 million in the first half of the current fiscal, though it had reported a net loss of Rs 178.97 million in 2004-’05. The main reason for the losses in the previous years was the high annual fixed license fees for the FM radio broadcasting stations, which was the amount of the initial bid with a 15 per cent increase per year on a cumulative basis.
News Broadcasting
Induction cooktop demand spikes 30× amid LPG supply concerns
Supply worries linked to West Asia tensions push households and restaurants to turn to electric cooking alternatives
MUMBAI: As geopolitical tensions in West Asia ripple through global energy supply chains, the familiar blue flame in Indian kitchens is facing an unexpected challenger: electricity.
What began as concerns over the availability of liquefied petroleum gas (LPG) has quickly evolved into a technology-driven shift in cooking habits. Households across India are increasingly turning to induction cooktops and other electric appliances, initially as a backup but now, for many, a necessity.
A sudden surge in demand
Recent data from quick-commerce and grocery platform BigBasket highlights the scale of the shift. According to Seshu Kumar Tirumala, the company’s chief buying and merchandising officer, demand for induction cooktops has risen dramatically.
“Induction cooktops have seen a significant surge in demand, recording a fivefold jump on 10 March and a thirtyfold spike on 11 March,” Tirumala said.
The increase stands out sharply when compared with broader kitchen appliance trends. Most appliance categories are growing within 10 per cent of their typical demand levels, while induction cooktops have witnessed explosive growth as households rush to secure an alternative cooking option.
Major e-commerce platforms including Amazon and Flipkart have reported rising searches and orders for induction stoves. Quick-commerce apps such as Blinkit and Zepto have also witnessed stock shortages in major metropolitan areas including Delhi, Mumbai and Bengaluru.
What was once considered a convenient appliance for hostels, small kitchens or occasional use has suddenly become an essential addition in many homes.
A crisis thousands of miles away
The trigger for this shift lies far beyond India’s kitchens.
Escalating conflict in the Middle East has disrupted shipping routes through the Strait of Hormuz, one of the world’s most critical energy corridors. Nearly 85 to 90 per cent of India’s LPG imports pass through this narrow waterway, making the country particularly vulnerable to supply disruptions.
The ripple effects have been swift.
India currently meets roughly 60 per cent of its LPG demand through imports, and tightening global supply has already begun to affect domestic availability and prices.
Earlier this month, the price of domestic LPG cylinders increased by Rs 60, while commercial cylinders rose by more than Rs 114.
To discourage panic buying and hoarding, the government has also extended the mandatory waiting period between domestic refill bookings from 21 days to 25 days.
Restaurants feel the pressure
The strain is not limited to households. Restaurants, hotels and roadside eateries are also grappling with supply constraints as commercial LPG availability tightens under restrictions imposed through the Essential Commodities Act.
In cities such as Bengaluru and Chennai, restaurant associations report that commercial LPG availability has dropped by as much as 75 per cent, forcing many establishments to rethink their kitchen operations.
Some restaurants have reduced menu offerings, while others are rapidly installing high-efficiency induction systems, creating hybrid kitchens where electricity now shares the workload with gas.
For smaller eateries and roadside dhabas, the shift is less about sustainability and more about survival.
A potential structural shift
The government has maintained that there is no nationwide LPG crisis and has directed refineries to increase production to stabilise supply.
Nevertheless, the developments of March 2026 may already be triggering a longer-term behavioural shift.
For decades, LPG has been the backbone of cooking in Indian households. However, recent disruptions have highlighted the risks of relying on a single fuel source.
Increasingly, households appear to be hedging against uncertainty by adopting electric cooking options to guard against price volatility and delivery delays.
If the current trend continues, the induction cooktop, once viewed as a niche appliance, could emerge as a quiet symbol of India’s evolving kitchen economy.
