MAM
Hyundai books 6000 TV spots for new Eon launch
BANGALORE: Car maker Hyundai Motor India Limited (HMIL) has booked 6000 spots on general entertainment and major news channels for the new Eon that its claims has been built on a completely new platform made for the Indian market.
The communication, which commenced with the launch of the Eon in Delhi on 13 October, will be aired across the popular Hindi and regional general entertainment channels and news over the next six weeks.
“One 60 second TVC created by HMIL‘s in-house creative agency Innocean, made by ShawnTell and directed by Damien Toogood has been made. This TVC has been pared to 40 and 30 seconds and will be aired during different spots,” revealed HMIL‘s Eon brand manager Amit Patel while speaking with www.indiantelevevision.com. “Our Eon campaign is around television, radio, print digital and outdoor.”
HMIL managing director and CEO H W Park said, “Eon has been specifically built keeping in mind varied Indian conditions and special requirements of our esteemed Indian customers. The Eon will further expand our market share in the fast-growing small car segment in the Indian market.”
Hyundai India is trying to take on the Maruti Alto and is looking at sales volumes of around 150,000 units over a 12-month period. “The company will be spending between Rs.300 to Rs.400 million towards brand building and marketing alone for the Eon,” revealed an automobile industry source.
Brands
Flipkart completes reverse flip to India ahead of IPO
Walmart-owned e-commerce giant shifts domicile from Singapore to Bengaluru
MUMBAI: Flipkart has completed its restructuring to move its parent company from Singapore back to India, marking a key milestone as the Walmart-owned marketplace prepares for a potential initial public offering on Indian stock exchanges, ET reported, citing people aware of the matter.
The move, often referred to as a “reverse flip”, relocates the company’s legal home to India and aligns its corporate structure more closely with its largest market. It also clears an important regulatory step for Flipkart as it explores listing plans.
As part of the restructuring, several Singapore-based entities have been merged into Flipkart Internet Private Limited, which will now serve as the main holding company for the entire group.
The consolidation brings a number of major businesses directly under the Indian parent company. These include fashion platform Myntra, logistics arm Ekart, travel booking platform Cleartrip, healthcare marketplace Flipkart Health, and fintech venture Super.money.
Under the new structure, global investors including Walmart, Microsoft, SoftBank, and the Canada Pension Plan Investment Board will hold their stakes directly in the Indian entity rather than through an overseas holding company.
The redomiciliation required approval from the Indian government because Chinese technology company Tencent owns around a 5 to 6 per cent stake in Flipkart. Under Press Note 3, investments from countries sharing a land border with India require prior government clearance.
Flipkart had already secured approval from the National Company Law Tribunal in December. With the latest clearance from the central government, the company has now obtained all the regulatory approvals needed to complete the relocation, ET reported earlier.
Flipkart had originally shifted its holding structure to Singapore in 2011 to tap global capital more easily. However, as India’s capital markets have matured, several start-ups have begun returning their domiciles to the country ahead of public listings. Companies such as Razorpay, Groww, and Meesho have taken similar steps.
The company is now expected to move ahead with its IPO preparations and has begun early discussions with merchant bankers. According to people familiar with the matter, Flipkart could file its draft prospectus later this year, setting the stage for what may become one of the most closely watched listings in India’s e-commerce sector.
Flipkart has been majority-owned by Walmart since 2018, when the US retail giant acquired a 77 per cent stake in the company for $16 billion in one of the largest e-commerce deals globally.
