homevideos Newseconomy NewsLooking to expand FMCG business to Rs 10,000 crore in next 5 6 years, says Sanjiv Goenka
Looking to expand FMCG business to Rs 10,000 crore in next 5-6 years, says Sanjiv Goenka
Sanjiv Goenka, head of the Sanjiv Goenka Group, spoke to CNBC-TV18 about the company's foray into the fast moving consumer goods (FMCG) space and his plans about listing CESC Ventures and Spencer's.
Sanjiv Goenka, head of RP-Sanjiv Goenka Group, spoke to CNBC-TV18 about the company's foray into the fast moving consumer goods (FMCG) space and his plans about listing CESC Ventures and Spencer's.
“FMCG has been on my mind for a very long time and we started working on it a long time ago. The origins came from a study that McKinsey did and they said you either get into IT naval services or FMCG. That is when we got into Firstsource. Since then FMCG has been pretty much on our mind and we have been waiting for the right time to launch,”Goenka said.
“It is very encouraging response, the products have been exceptionally well received,” he added.
Speaking about the listing of CESC Ventures, Goenka said that, “We have got the NCLT clearance. We are awaiting a clearance from the state regulatory commission which hopefully should come soon. So as soon as that comes, we will apply to Securities and Exchange Board of India (Sebi) for listing.”
“FMCG today is at about Rs 500 crore. I think in the next five-six years, our target is Rs 10,000 crore,” he further mentioned.
First Published: Aug 8, 2018 9:40 AM IST
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