Brands
Saloni Kochhar elevated to managing director at Goldman Sachs
BENGALURU: Goldman Sachs has promoted Saloni Kochhar to managing director, marking a significant milestone in a nearly two-decade career spanning global banking and financial technology roles. The appointment comes as the Wall Street firm continues to strengthen its technology and digitisation leadership in India.
Based in Bengaluru, Kochhar leads digitisation and workflow technology for Goldman Sachs in India. Her elevation follows a three-year stint as vice-president, during which she oversaw large-scale technology programmes focused on automation, efficiency and platform modernisation.
Kochhar brings more than 18 years of experience across banking and financial services technology. Before returning to Goldman Sachs in 2013, she served as executive director at JPMorgan Chase & Co between 2019 and 2022. Her earlier tenure at Goldman Sachs included roles ranging from analyst developer and senior analyst to vice-president and senior engineer.
Over the years, she has held positions as tech lead, architect and engineering manager, working across Java, J2EE, Spring, SQL and MongoDB stacks, while also steering transformation programmes in unfamiliar technologies. Colleagues describe her as a leader comfortable navigating complexity, scale and constant change.
In a statement, Kochhar credited mentors, colleagues and teams for shaping her journey, and said she looked forward to delivering for clients while contributing to the firm’s long-term ambitions.
The promotion underscores Goldman Sachs’ continued bet on India as a critical hub for technology-led innovation. For Kochhar, it is both recognition and runway — a bigger mandate, a broader canvas, and a signal that the firm wants builders, not just bankers, shaping its future.
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.
