07 May 2024
Urban Tots has recently converted from a privately owned entity to a publicly owned entity. This step is the first in Urban Tots’s mission to eventually get listed on the Stock Exchange in 2026.
Uran Tots Founder Statement:
Urban Tots Founder Deepak Chaudhary had his say on this matter. According to him “India was a net importer of toys. In FY22, India imported more than Rs. 22,000 Cr. worth of toys primarily from China, Indonesia, Taiwan, etc. The government has been very supportive in assisting domestic toy manufacturing companies to scale up their products to not only make India Aatmanirbhar but also a net exporter of toys. Urban Tots plans to tap into the demand of the sector & scale up its production by participating in the PLI scheme. The Urban Tots IPO will be a momentous occasion for the Toys & Apparel sector.”
Some of the key initiatives undertaken by the govt include imposing an import tax (basic custom tax increased from 20% to 60%), and secondly to boost domestic production government has placed its focus on toy manufacturing and intends to incorporate it into the proposed PLI scheme. The PLI scheme for toys has been recommended with an outlay of Rs 3,489 crore with a scheme period from 2024-25 to 2031-32.
Urban Tots has recently converted from a privately owned entity to a publicly owned entity. This step is the first in Urban Tots’s mission to eventually get listed on the Stock Exchange in 2026.
Uran Tots Founder Statement:
Urban Tots Founder Deepak Chaudhary had his say on this matter. According to him “India was a net importer of toys. In FY22, India imported more than Rs. 22,000 Cr. worth of toys primarily from China, Indonesia, Taiwan, etc. The government has been very supportive in assisting domestic toy manufacturing companies to scale up their products to not only make India Aatmanirbhar but also a net exporter of toys. Urban Tots plans to tap into the demand of the sector & scale up its production by participating in the PLI scheme. The Urban Tots IPO will be a momentous occasion for the Toys & Apparel sector.”
Some of the key initiatives undertaken by the govt include imposing an import tax (basic custom tax increased from 20% to 60%), and secondly to boost domestic production government has placed its focus on toy manufacturing and intends to incorporate it into the proposed PLI scheme. The PLI scheme for toys has been recommended with an outlay of Rs 3,489 crore with a scheme period from 2024-25 to 2031-32.
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