Brands
Discovery goes #Indiamyway in Maruti Suzuki
MUMBAI: Discovery Channel in association with Maruti Suzuki India Limited (MSIL) organised an event in New Delhi to celebrate the culmination of its journey across 29 states. Cruising around in a Maruti Suzuki Vitara Brezza, covering over 28,000 kilometers, the epic-journey entitled #Indiamyway was captured by Discovery cameras and was televised on the network.
A showreel presenting the best-off moments of the journey was screened at the event. On this occasion, Discovery also released a DVD pack of the television series unveiled MSIL executive director – marketing and sales R S Kalsi, Discovery Networks Asia-Pacific VP advertising sales (south Asia) Karamjit Dua, and Meraj Shah, actor and presenter of the series.
The 13-part series which aired on Discovery, travelled across India in search of young Indians, their passion and their continual quest for the unusual, glamourous and adventurous side of life. The series was hosted by Paloma Monappa, an actor and avid traveler, and Shah, a travel writer, who went on a road trip for an exploration of a ‘New India’. They introduced viewers to a range of fun, eclectic characters ranging from celebrities, tribal fashionistas, women wrestlers, young scientists, tattoo artists, path breaking entrepreneurs and many others.
Kalsi said, “It has been a matter of immense pride for the two pioneering brands – Maruti Suzuki and Discovery to collaborate and explore the new-age India.” Dua said, “Discovery offers captivating and incomparable blend of programmes that stimulate viewers’ mind. #Indiamyway has been our endeavor to showcase the immense talent, passion and changing aspirations of the millennials in the country.” Shah said, “I have been travelling for years, however, this road trip was unique and invigorating.”
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.
