A really cool unheard story of Nykaa and the founder Falguni Nayar!
Mr. Uday Kotak speaks of Falguni Nayar's stint at Kotak -
"We had started a consulting division in KMFL. A year after she joined us, Sanjay Nayar, her husband, who was working in Citibank, was posted to London
Like a typical Indian wife, she wanted to join him. So, we took a view - We said, 'Falguni if you go to London, we will set up a London office. We want to do sales and trading in equities and in GDRs. Why don't you set it up?
So, Falguni set up our London office. Kotak Mahindra (UK) happened because of Falguni. After two years, Sanjay was transferred to New York. We said, Great! Falguni set up New York: By then, we had already set up a JV with Goldman.
I asked her to work for 6 months at the Goldman Sachs office. Then we set up our separate office in New York. When Sanjay returned to India as Country Head, Citibank, we brought her back as Head of our equities business in India.
She headed Kotak Investment Banking, a subsidiary of KMB.
In 2012, Falguni told me, 'Uday, I am happy with what I have been doing. I have done well, but I want to do something different. I won't compete with you.
I asked, 'What are you going to do?' She said, 'I am passionate about doing something in Internet and beauty"
While Mr. Kotak was surprised, he understood her desire to create something from scratch.
That's how Falguni, investment banker, who had traversed continents working with Kotak Mahindra for nearly two decades, started her entrepreneurial venture, Nykaa - the Indian retail outlet of beauty, wellness, and fashion products.
Damn cool, Right?
From the book - How Uday Kotak built a valuable Indian Bank
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100 Years ago, life expectancy in India was 25 Yrs and in US around 50 Yrs
Today it is 70 yrs and 78 yrs respectively
Good news - We will live longer
Bad news - Folks want to retire early so the risk is not having enough income during old age!
How to combat this? A thread -
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People will retire at the age of 50-55 and then need a portfolio to help them survive for the next 20-30 years atleast
3 important things in my view
A good Sized corpus, Margin of Safety and Medical Insurance
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A Good Corpus -
- Assume you are aged 45 today
- Your yearly expenses are 10L a year (in today's value)
- You want to retire in 10 Years (Age 55)
- Assuming 7% inflation, this will double in 10 years, so you will need Rs 20L a year
- You will need Rs 3.2 Cr
Bajaj Finance Board is meeting on April 24 to discuss the same
Valuation of $10 billion with a tentative IPO size $1 billion is said to be on the cards
A thread on the company and the IPO -
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Why the IPO?
The RBI classified Bajaj Housing Finance (BHF) in the category of NBFC - Upper Layer.
The company said it is mandated to list on or before September 30, 2025, as per the regulatory framework
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History of BHF -
- BAF launched its mortgage business in 2009 with LAP
- In subsequent years, it entered into home loans for self-employed and salaried customers, LRD, and CF
- BHF was hived off separately in FY18.
A historic moment in the World Markets - The Bank of Japan ends 8 years of negative interest rates, making a historic shift with the first rate hike in 17 years!
This has officially ended the world’s only negative rates regime
A quick explainer on why this happened -
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Some backdrop-
- If you deposit money in an Indian Bank today u get 6% interest yearly, so if you Deposit Rs 100, you get Rs 6 as interest
- But not in Japan! They had negative interest rates!
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- They had -0.1% rate, so if u kept 100 Yen, after 1 year you would get back 99.90 Yen
- You are paying money to the bank basically to park money!
Founded in 1999 and Dubbed as the Gathiya King, it sold 81.7L packets of its snacks everyday in 6MFY24!
This is my 100th thread since Feb 2023, so show some love :)
Everything you need to know about the company -
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About Gopal Snacks -
- A FMCG Snacks company with a major presence in Gujarat
- Sells ethnic snacks - namkeen and gathiya | western snacks - wafers, snack pellets | Others - papad, spices, gram flour or besan, noodles, rusk and soan papdi
- 84 products | 276 SKUs
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Manufacturing – 6 plants – 3 primary and 3 ancillary Units (producing besan/raw snack pellets/seasoning/spices which is used in captive consumption)| 617 distributors
Distribution - 3 Depots , 617 distributors, and 263 logistics vehicles
Renting V/s Buying a property - What to do? How to decide?
If you are buying a property - how to make the entire Loan amount free via SIPs (or) the entire interest on the Loan free via SIPs!
A practical case study , retweet so that more people can learn this!
Let's go -
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Rent V/s Buy Debate -
- Renting doesn't give u a peace of Mind (personal view)
- Your owner can ask you to leave or throw you out anytime (have multiple friends who faced this in major and minor cities of India)
- If you are doing a temporary stay, then rent is good
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- Jacking up of rents and deposits(Bangalore and Mumbai prime examples | The hassle of taking back deposits | senseless deductions of deposits while taking it back)
- The differentiation that happens (Clubhouse/guest rights, Tenant treatment + other stupid rules)