MAM
Coca-Cola launches ‘My Water’ programme to mark with ‘World Environment Day’
MUMBAI: On account of the ‘World Environment Day’ today ( 3 June), Coca Cola India in an endeavour to do its bit, has introduced their new programme titled ‘My Water’ in Bangalore.
‘My Water’, is essentially an awareness programme on water
conservation, targeting students from fifteen schools in Bangalore. The programme was initiated in April. The programme includes implementation of rooftop rainwater harvesting systems in five schools across Bangalore.
It was introduced keeping the following objectives in mind:
a.. Creating a sense of responsibility among students towards water conservation
b. Providing an informed basis for their proactive efforts
c. Inspiring them to take action towards implementing water conservation devices in their school premises
d. Implementing rooftop rainwater harvesting systems groundwater recharge systems in these five schools in Bangalore.
Implementation activity of the project has been taken up by the Kendriya Vidyalayas at NAL, IISC, Hebbal, ASC Centre and CRPF Yelanhanka. Each of these schools have identified a team comprising ten students and one teacher, who would be instrumental in creating awareness among students in their respective schools on need for water conservation. These students would also understand the methodology for rooftop rainwater harvesting, groundwater recharge and in turn would disseminate this information to a much larger audience.
This Coca Cola India, is also a collaborative effort of TERI and M/S Farmland Rain Harvesting Systems. Personnels from TERI have already analysed and discussed the requisite project implementation methodology with the ‘My Water’ groups in each of these schools. The awareness campaign would commence in July 2005, once the schools reopen for the academic year 2005-2006.
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.
