MAM
Shopmatic disrupts India’s ecommerce space; makes its platform available for SMEs and aspiring entrepreneurs at an annual cost of Rs 50 only
MUMBAI: In a move that will transform the e-commerce landscape in India, international e-commerce company Shopmatic is making its platform available for SMEs and aspiring entrepreneurs at the cost of only Rs 50 for 1 year. Customers can unlock the power-packed features of the Shopmatic platform to set up and manage their online store and only pay 3% when they make a successful sale. Shopmatic recognises that to leverage the opportunities from ecommerce, SMEs and aspiring entrepreneurs should have the freedom to make use of a comprehensive platform without the burden of an upfront investment or committed fees, and has launched this disruptive offering.
Despite e-commerce being the sunrise sector in India, not all SMBs, hobbyists, craftspersons, artisans and businesses have embraced the e-commerce route because of the upfront investment required and the perception that setting up an ecommerce business is difficult. Moreover, businesses are unsure if they would even be successful, after paying significant fees to website developers or ecommerce platform providers.
Shopmatic addresses these pain points with this launch; going online is no longer difficult with Shopmatic as businesses can download the Shopmatic App or sign up for a Shopmatic account via a computer, tablet or any device they are comfortable with, and create an ecommerce store in a matter of minutes. Moreover,Shopmatic’s pricing plans are now, aligned to the customers’ success: merchants pay only 3% as transaction fee when they make a successful sale and just Rs. 50 as hosting fees, at the end of 12 months.
Commenting on the latest disruption, Anurag Avula, Co-Founder & CEO, Shopmatic, said “Shopmatic has always been focussed on enabling a successful ecommerce business for its customers. This launch further reaffirms Shopmatic’s commitment towards its customers. We will continue to invest in new capabilities and support our customers in their ecommerce journey. We have eliminated the barriers for anyone wanting to sell online thus by taking away the hurdles of price and device accessibility. By leveraging the smartphone penetration in the country and coupling that with our pricing flexibility, we intend to bring 500,000 customers into the ecommerce ecosystem in the next 12 months. “
Shopmatic has helped over 50,000 sellers establish a thriving online business by offering easy-to-use, power-packed tools and functionality. With this latest game-changing initiative, Shopmatic aims to enable every Indian business to unlock its e-commerce potential. With the annual hosting fee of only Rs 50 and 3% transactional charge on every successful transaction, aspiring online entrepreneurs will have at their disposal the entire ecosystem to sell online: a powerfully customizable store builder, payment gateway & shipping integration, social media channel listing, listing on Shopmatic World, chat enablement on store, data insights, and several promotional tools.
MAM
Filmcity Media CFO Mohit Jain quits; CEO Kirti Vishnu Tiwari takes charge of finance
Board appoints Prabhat Modi as additional director and approves Rs 1.9 crore preferential share issue
MUMBAI: Filmcity Media has reshuffled its top deck. Chief financial officer Mohit Jain has stepped down, prompting the board to hand the finance reins to chief executive Kirti Vishnu Tiwari even as the company lines up fresh capital and new boardroom muscle.
In a regulatory filing to the BSE, Filmcity Media said Jain resigned from the roles of director and chief financial officer with effect from March 11, 2026, to pursue another career opportunity. He ceased to be a key managerial personnel of the company at the close of business on that date.
The board swiftly moved to plug the gap, appointing Kirti Vishnu Tiwari as chief financial officer from March 12, 2026. Tiwari, who already serves as executive director and chief executive, will now hold the combined role of executive director, CEO and CFO, taking charge of the company’s finance function while continuing to lead operations.
The leadership changes were approved by the board following recommendations from the nomination and remuneration committee, with the audit committee also backing Tiwari’s appointment as CFO to ensure governance oversight. Under the arrangement, Tiwari will continue as a key managerial personnel under Section 203 of the Companies Act, 2013.
Filmcity Media also expanded its board, appointing Prabhat Modi as additional director with effect from March 13, 2026, for a term of five years. The appointment, categorised as a non-executive non-independent directorship, will require shareholder approval at the next general meeting.
Modi brings capital market experience to the role. He holds a B.Sc in accounting and finance from the University of Essex in the United Kingdom and a PGDM from the National Institute of Securities Market. His professional experience includes stints at SBI Mutual Fund, BSE India and Morningstar India, where he worked on market research, financial analysis and capital market operations.
Tiwari, meanwhile, brings experience spanning finance, marketing and hospitality. A graduate of Lucknow University, she has previously worked with Hotel Holiday Inn, Hotel Leela Kempenski and Hotel Sea Rock, along with roles at Pawan Hans Helicopter and CBRE South Asia.
Separately, the board also approved a preferential issue of equity shares to members of the promoter and promoter group as well as non-promoter investors. The proposed fundraising, subject to regulatory approvals, is expected to raise up to Rs 1.9 crore.
The company said both appointees meet all regulatory requirements under SEBI regulations and the Companies Act and are not barred by any regulatory authority from holding their positions.
With a new board face, a CEO doubling as CFO and fresh capital on the table, Filmcity Media appears to be tightening its leadership and balance sheet in one swift move.
