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Bajaj Auto launches e-rickshaw Riki, aiming to reset last-mile mobility
MUMBAI: Bajaj Auto has entered the electric rickshaw market with Riki, marking its most aggressive push yet into last-mile mobility. The world’s most valuable two- and three-wheeler maker claims the new line will raise standards in a category long plagued by unreliable range, weak chassis, poor braking and patchy service networks.
The segment has boomed since Covid, adding more than 45,000 vehicles every month as demand for cheap, last-mile transport grows across India’s commuter belts. Yet most offerings remain unorganised, often leaving drivers with low uptime, spiralling maintenance and compromised safety.
Bajaj says Riki is engineered to correct that reputation. The first model in the P40 passenger series, the Riki P4005, offers a certified 149 km range, a monocoque chassis, independent suspension, hydraulic brakes and fast charging in 4.5 hours. It is priced at Rs 1,90,890 (ex-showroom).
The cargo variant, the Riki C4005, delivers the category’s highest certified range at 164 km, a larger tray and 28 per cent gradability, pitched as a booster for driver earnings. It is priced at Rs 2,00,876 (ex-showroom).
Piloted in Patna, Moradabad, Guwahati and Raipur, Riki now rolls out to more than 100 towns across UP, Bihar, MP, Chhattisgarh and Assam.
“Riki brings Bajaj Auto’s trusted 3W engineering into the electric segment at a time when drivers and passengers need dependable solutions,” said Bajaj Auto intra-city business unit president Samardeep Subandh. “It is engineered to lift driver earnings, improve comfort and make last-mile mobility more reliable.”
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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.
