MAM
Marico Industries launches Saffola Gold
MUMBAI: Marico Industries announced the launch of a revolutionary formulation in edible oils – Saffola Gold – which will has a 70:30 blend of Ricebran oil and Kardi oil. Saffola Gold has been touted as having dual benefits of lowering cholesterol and the food cooked in it absorbs less oil.
The formulation of Saffola Gold has been researched in Japan and is proven to be more effective in reducing cholesterol than other widely used edible oils.
Apart from reducing cholesterol, Saffola Gold also possesses other health benefits. The Kardi and Ricebran oil formulation of Saffola Gold is fortified with Vitamin E which is known to have a role in immunity. It also contains Losorb, which ensures that that food cooked in Gold absorbs less oil. Excess of oil in our food, is a major cause of increasing the blood cholesterol levels.
Marico Industries head of marketing Saugata Gupta said, “Consumers connect Saffola with heart care. Saffola Gold is the latest introduction in its efforts to come up with an offering best engineered to reduce cholesterol. The blend of the oil is what makes it unique. It has been internationally researched to be a very powerful combination for a healthy lifestyle.”
Saffola Gold will be available in three different SKUs – One litre pouch priced at Rs 89, two litre jars costing Rs 178 and five litre jars priced at Rs 449.
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.
