MAM
Kumar Deb Sinha joins The StoryLab as country head
MUMBAI: The StoryLab, the specialist content agency from Dentsu Aegis Network, has roped in Kumar Deb Sinha as the new country head for its India operations.
Based out of Mumbai, Sinha will report to Kartik Iyer, president Media Brands and Amplifi – Dentsu Aegis Network India and the executive sponsor for TSL in India.
Prior to this, Sinha was the national director for content at Wavemaker India, a GroupM Company.
Armed with more than 15 years of content creation experience, Sinha chiefly specialises in the conceptualisation, designing and production of content across screens. He has produced more than 2000 hours of original content for television and digital including scripted and unscripted formats.
Commenting on Sinha’s appointment, Iyer says, “We are very happy to have Kumar Deb Sinha on board. The StoryLab aims to be a significant player in the burgeoning content ecosystem of India with a clear positioning. And we are confident that Kumar, with his experience and expertise, will help us take this ambition forward.”
Sinha mentions that currently there is a huge demand for premium content in India from all key stakeholders – audience, platform and advertiser. Video consumption on personal devices is growing exponentially changing audience preference towards premium entertainment with limited commercial messaging. Both traditional broadcasters as well as OTT players are investing in quality content to differentiate and satiate their audience need. “Advertisers are partnering with premium & successful content formats to connect with this ad-averse audience. Frankly there can be no better time to be a content creator in India for premium and differentiated content and The StoryLab is here to exploit that potential as an innovative investor, distributor and producer,” he adds.
It is pertinent to note here that TSL expanded its footprint into India in 2015 with a slew of product offerings around content partnership, curation, original content and content investment. With operations in 16 countries, TSL works with publishers & platforms to innovate their supply chain of storytelling and with brands to help them invest in the most engaging and effective content solutions.
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.
