It remained the third-highest selling financial newspaper in India, behind the Economic Times and Mint. The IRS 2019Q4 survey found the newspaper gaining 45,000 readers over the final quarter of 2019 to hit an average issue readership of 189,000 copies. Īs of January, 2020, the paper had recovered some ground. In January, 2019, it was adjudged by the Indian Readership Survey to be the fourth largest financial news daily (by an average issue readership of 107,000 copies) and third largest selling financial news daily (by Total Readership of 505,000). The paper had remained for years, India's second largest business daily in terms of circulation, until in 2017, when its ranking sank. Kotak Mahindra was flush with funds – some from the Goldman Sachs JV – so it seemed like a risk worth taking," he said. I can’t remember how much we paid but it was only a crore or so. The Sarkars were so desperate that they were ready to give the paper up for nothing.
The cost of acquisition was virtually zero. I believed that if I put Rs 20 crore into the paper, we could turn it around. The scions of the ABP group - Aveek and Arup Sarkar had spun BS off into a separate company and approached Kotak as a potential buyer, fearing they may need to close down the paper. Kotak said in an interview in 2005 that BS was losing Rs 1.5 crore a month and ABP feared being bankrupted by the losses. In 1997, it was purchased by Kotak Mahindra Finance, in a deal led by now Kotak Mahindra Bank Managing Director and CEO Uday Kotak. ABP had lived in the hope that the Government would allow the London-based Financial Times to take an equity stake in Business Standard Limited and bring in the much-needed funds. Though circulation rose, losses mounted, possibly to above Rs 50 crore, when ABP could not support it any more. Though unquestionably a huge editorial success, BS failed to click in the market. The newspaper's initial owner had been the Kolkata-based ABP Group. The main English-language edition comes from 12 regional centers, Mumbai, New Delhi, Kolkata, Bengaluru, Coimbatore, Chennai, Ahmedabad, Hyderabad, Chandigarh, Pune, Lucknow, Bhubaneswar, and Kochi-and reaches readers in over 1,000 towns and cities across India. Founded in 1975, the newspaper does extensive coverage on the Indian economy, infrastructure, international business and trade, stock and currency markets, corporate governance, apart from a range of other financial news, opinions and insights. Business Standard is an Indian English-language daily edition newspaper published by Business Standard Private Limited, also available in Hindi.
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