Brands
Birla Opus Paints partners With Art Mumbai
Mumbai: As a new age and innovative paint brand that understands and solves today’s modern consumer needs through its superior product performance, Birla Opus Paints is now joining hands with Art Mumbai 2024 to celebrate modern and contemporary art like never before.
Bringing to life the vibrant tapestry of Indian, South Asian and International art, Birla Opus Paints housed under Aditya Birla Group’s Grasim Industries, has come on board as the presenting partner for Art Mumbai’s second edition. Commencing today at the iconic Mahalaxmi Racecourse, the much-talked-about festival is set to build on the success of its inaugural year, showcasing a diverse collection of art from around the world.
Much like Birla Opus Paints, Art Mumbai 2024 sees art enthusiasts, designers, decorators, and connoisseurs embarking on a journey of artistic discovery, cultural exchange and celebrating the transformative power of art and color. What’s more is that the celebration is a fusion of art and color for creating a beautiful surrounding, something synonymous with Birla Opus Paints.
Birla Opus Paints is taking its commitment to fostering artistic expression and building a strong community a step ahead through this association with Art Mumbai.
Strengthening the partnership, the festival has an exclusive Birla Opus lounge for VIPs, designed to catch a quick break before jumping back into the brilliance of the artwork as well as a Birla Opus Auditorium where the much-appreciated Speaker Series will be presented giving patrons an opportunity to better understand art, culture and colors better. Integrated seamlessly into the fabric of the event, each wall is also painted with a unique color from the range of tints from Birla Opus Paints. This collaboration underscores Birla Opus Paints’ core values of creativity and innovation, solidifying its role by showcasing the rich artistic heritage of South Asia on a global platform.
Talking about the association, Birla Opus Paints head of marketing Inderpreet Singh says, “At Birla Opus Paints, we believe that color is more than just an aesthetic choice – it is a powerful medium that reflects and shapes cultural and personal expression. Art and color are powerful storytellers with each brushstroke narrating a part of India’s cultural tapestry. This collaboration with Art Mumbai blends our commitment to innovation with the transformative power of art.”
“We are delighted to have opened the second edition of a bigger and better Art Mumbai with a larger and more immersive showcase of modern and contemporary art from South Asia and around the world. We are honored to partner with Birla Opus Paints. This association with Birla Opus Paints has enhanced the experience of Art Mumbai, adding even more color to the fair, making this event a truly unique celebration of community and culture,” said Art Mumbai co-founder Dinesh Vazirani.
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.
