1) New player in the game
Digvijay ‘Danny’ Gaekwad, the US-based businessman
In September 2023, the Burman family, promoters of Dabur India, announced a Rs2,116 crore open offer to acquire up to a 26 percent stake in financial services company Religare Enterprises Limited (REL). This was amidst the ongoing tussle with Rashmi Saluja, the former executive chairman of the company. The new open offer was in addition to the 25.12 percent stake the family already owned. In January 2025, a new player, Digvijay ‘Danny’ Gaekwad, a real estate and hospitality entrepreneur from Florida, US, made a counter-offer to buy 55 percent stake in REL. As the drama unfolds, with Saluja’s ouster at the time of writing this newsletter, here’s a candid conversation with Gaekwad, who believes he has made an offer that’s hard to refuse.
2) Long road to gender equity
Ameera Shah, Promoter and executive chairperson of Metropolis Healthcare Image: Mexy Xavier
Ameera Shah is at a vantage point of sorts, having spent close to 25 years transforming the diagnostics chain Metropolis Healthcare from a single-lab unit into an expansive diagnostic network across India and Africa. Presently, 25 percent of the organisation’s leadership team comprises women, which Shah intends to increase to 35 percent. Reflecting on her journey, she notes there’s still a long way to go before entrepreneurship becomes an equitable space in India. The most significant hurdle women face, Shah says, is the societal conditioning against taking risks. In an exhaustive conversation with Forbes India, Shah discusses how society conditions women against taking risks, the mental burden of unpaid domestic work on women, and the long road to gender equity in business,
3) How the playbook evolves
Alok Goyal of Stellaris (left) and Khadim Batti of Whatfix
In the latest episode of Forbes India Tech Conversations, Alok Goyal, partner at Stellaris Venture Partners, and Khadim Batti, co-founder and CEO of Whatfix, a digital adoption platform provider, discuss their partnership, from a VC who was sceptical about the venture to his fastest term sheet; product-market fit, and $100 million in annual recurring revenue on the horizon. Watch as they discuss lessons from this experience and how the playbook has evolved for Indian SaaS companies selling enterprise software in the world’s biggest tech markets.
Discover
1) Jhulan Goswami and the WPL
Jhulan Goswami, former India pace spearhead, and the mentor and bowling coach of the Mumbai Indians Image: Mumbai Indians
Jhulan Goswami is one of the legendary names in Indian cricket, especially women’s cricket. She was the backbone of the Indian women’s cricket team’s journey from zero to 100. The right-arm medium-fast bowler scalped 255 wickets for her team–a record in women’s cricket that no other bowler has managed to come close to even three years since her retirement from her international stint. After stepping away from national duties, Goswami has become the bowling coach and mentor of the Mumbai Indians team for the Women’s Premier League (WPL). As her team kicks off its campaign with the first match against Delhi Capitals at Vadodara tonight, Goswami speaks to Forbes India about the league’s impact, why franchise cricket is the vessel of growth for women’s cricket, and what it means to have a stand named after her.
2) Indian cinematic universes
Money spinning franchises (clockwise from top left) Kartik Aaryan in Bhool Bhulaiyaa 3; US’ highest grossing Inside Out 2; Allu Arjun in Pushpa 2; Shraddha Kapoor in Stree 2.
Marvel Studios released a film, The Incredible Hulk, in 2008, and the film’s end credit scene blew up all over the cult-ish corners of the Internet at the time. We are talking about the good old hay days of Tumblr, Reddit, and even 4Chan. But the Robert Downey Jr starrer Iron Man became the foundation of the content behemoth better known as the Marvel Cinematic Universe. The success of these tentpole films has studios believe that sequels, threequels, and cinematic universes are the magical wands to win at the box office. The Indian film industry is following suit. Spy Universe (at Yash Raj Films), Monster Universe (at Maddock Films), Lokiverse (created by Lokesh Kanagaraja), and Cop Universe (at Rohit Shetty Picturez) are some shining examples. It takes extensive world-building and an infusion of fresh perspective to keep these universes going. Pioneer Marvel Studios is struggling. We saw Rohit Shetty also miss a step with Singham Again. So now the question is: Do Indian filmmakers, who are already late to the party, have what it takes to regularly churn out box office successes while maintaining loyalty to the story and characters?
3) To follow or not to follow?
Image: Shutterstock
Connections are critical to social media marketing because, by and large, people are more likely to accept the recommendations of those with whom they feel a connection. Even an imaginary relationship with a content creator online increases a person’s receptivity to product and brand recommendations, says Maferima Touré-Tillery, an associate professor of marketing at the Kellogg School. Research by Touré-Tillery and coauthor Jessica Gamlin, a Kellogg alumna and an assistant professor of marketing at the University of Oregon, delivers insight that may help marketers and content creators ensure they are not missing out in the ongoing battle for these connections.
4) Forbes India 30 Under 30 Class of 2025
Meet the Forbes India 30 Under 30 2025 winners, a class full of performers and a mix of tech innovators, healthcare mavericks, financial wizards, and more. Now in its 12th year, the annual and most-awaited list has winners across 19 categories, including the newly added Artificial Intelligence. The cohort has not only launched disruptive businesses all under the age of 30 but also focussed on creating social impact through ventures that address societal issues, sustainability and community development. Here’s to those who dare to dream and believe in the power of possibilities.
