News Broadcasting
SET India defers acquisition of SET Singapore
MUMBAI: Sony Entertainment Television India has deferred the acquisition of sister company SET Singapore as its proposed initial public offering (IPO) is unlikely to happen for at least a year.
The decision to put off restructuring of the holding was taken because it would have attracted capital gains tax. “As the IPO is not happening now, we have decided to put on hold the buying of SET Singapore. The proposed restructuring transaction would have attracted capital gains tax,” says a company source.
SET India had obtained clearance from the Foreign Investment Promotion Board (FIPB) to acquire 100 per cent shares of SET Singapore through a share swap transaction. According to the proposal, one share of SET India was to be exchanged for 16 shares of SET Singapore. Post-restructuring, 60.65 per cent of the SET India equity would be with the Sony Pictures Entertainment (SPE) entities, 19.83 per cent with non-resident Indians and overseas corporate bodies, 7.68 per cent with foreign institutional investors and 11.84 per cent with Indian shareholders.
SET India’s proposed IPO is also on hold, the source says. SET India CEO Kunal Dasgupta, however, refused to comment on the issue. The company has long been weighing the option of going for an IPO.
According to the source, Dasgupta had made a presentation to Sony Pictures Entertainment (SPE) chairman and CEO Michael Lynton a few months ago on SET India’s growth prospects. In his presentation, he had listed an IPO as one of SET India’s plans. “SPE’s new CEO had called for presentations from its different entities. A few months back, Dasgupta earmarked SET India’s growth plans as including an IPO,” says the source.
SET India plans to acquire SET Singapore and consolidate operations before going in for an IPO. SET Singapore has invested in acquisition of television serials and Hindi feature films, besides ICC telecast rights for India and other parts of Asia till 2007, including two World Cup tournaments. In its FIPB application, Sony had said: “All major investments of SET Singapore are now close to maturity and are likely to become profitable in the near future. The benefits of these investments would accrue to SET India in the coming years through the process of consolidation. This will increase SET India’s valuation.”
The consolidation process, according to the source, will start only when SET India is more definite on when it is going to launch its IPO.
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.
