MAM
Dentsu India makes two key appointments
MUMBAI: Dentsu India has made two senior level appointments. It has appointed C.P. Arora as Group chief financial officer and Suprotim Day as chief films officer.
Arora has joined Dentsu from JWT, Delhi where he was working as VP and executive commercial director and replaced Nobuki Sakai who was seconded to Dentsu India early last year.
Dentsu India executive chairman Rohit said, “Both will partner me in our endeavour to significantly strengthen our service quality delivery to our clients.”
As Group CFO, Arora will now be responsible for the financial plans, P&L management, policies, and accounting practices of the Dentsu India Group. He will also lead the accounting, budgeting, fund management, and financing functions of all the Dentsu India Group companies.
On his new role, Arora said, “After over a decade in advertising, I knew it was time for a fresh start. Interactions with Dentsu’s global and India management gave me an understanding of Dentsu‘s India ambition and growth plans. The role offered to me was not only challenging and inspiring but also something that could be the logical next step for me professionally.”
As strategic business partner with JWT, Delhi at both the corporate and business unit level, CP tracked financial efficiency and profitability, risk management, legal and compliance and overall financial operations for JWT Delhi Office.
Arora comes in with nearly 20 years of experience in financial
management. He is a strategic financial planner with expertise in designing and implementing systems/procedures to facilitate internal financial control, SOX Compliance and enhance the overall efficiency of the organisation.
Day has moved in from UK’s production house Stink, where he was heading London’s operations in India. He was instrumental in setting up a JV between Stink and QED Films in India. The production house serviced agencies such as JWT, McCann Erickson, Ogilvy, Leo Burnett, Lowe, Publicis and Cheil Communications among others.
Day said, “After my years in the film production business, I am excited to get back to the agency fold. The function of a film department is to raise the bar and ensure that the creative and client partner’s expectations are more than satisfied. With my new role at Dentsu India, I look forward to partner with the creatives to produce outstanding campaign work that takes brands to the next level of trust with the consumer.”
Day brings in over 25 years of experience in the production and direction of commercials. He has been in the forefront of producing advertising films for clients like PepsiCo, Airtel, Sony, Nokia, ESPN, Hero Honda, Frito Lays, Samsung, Electrolux, Mitsubishi, Dabur, McDonald‘s and Nestle.
Prior to this, Day has led the films department at JWT Delhi for over 5 years. Some of his most recent films include the KitKat ‘Squirrel’, the Cannes Award winning, Airtel ‘Endless Goodbye’ and the Mountain Dew ‘Wing Suit’ flying spot with Salman Khan.
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.
