MAM
SET, MAX bag 5 awards at Promax & BDA Asia 2002
MUMBAI: Sony Entertainment Television, which walked away with the Best TV Channel Packaging trophy in the Trade and Technical Categories at the Bajaj Boxer Indian Telly Awards 2002 recently, has won further accolades for its packaging.
The Promax & BDA Awards 2002 in Singapore saw SET winning Gold for best overall packaging, a company release says. In all, SET and sister movies and cricket channel MAX have bagged five awards at the event recognised around the globe as the highest accolade for promotion and marketing professionals working in today’s electronic media.
“These awards are recognised as the ultimate yardstick for quality by television professionals not just in the subcontinent but around the world,” SET India CEO Kunal Dasgupta, was quoted as saying in the release. “It is a matter of immense pride that Sony Entertainment Television has been recognised as the channel with by far the best on-air look, and the Gold for best overall packaging is testimony to this,” Dasgupta was quoted as saying.
SET also won golds for best programme packaging (for its flop marriage show Kahin Na Kahin Koi Hai), as well as best out of house promo award for its film on Gully Cricket featuring MAX Brand Ambassador Kapil Dev.
The PROMAX Awards are presented to companies and individuals whose work is judged by a panel of promotion and marketing professionals using three measures: overall creativity, production quality, and results in achieving marketing objectives.
The awards SET and MAX won are:
– Best Overall Packaging: SET – Gold
– Best Program packaging: Kahin Na Kahin Koi Hai, SET – Gold
– Best Out of House Image Promo: Kapil Dev, Gully Cricket, MAX – Gold
– Best Print Campaign, Deewana Bana De, MAX – Silver
– Best Campaign on Satellite & Cable, SET – Silver
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.
