Brands
Jasprit Bumrah joins foundit: Precision bowling meets smart job matching!
MUMBAI : India’s pace sensation Jasprit Bumrah is teaming up with foundit, a leading jobs and talent platform, in a partnership that brings together the precision of world-class cricket and the accuracy of AI-driven job search. Just as Bumrah delivers pinpoint yorkers at blistering speed, foundit aims to match job seekers with the right opportunities with the same level of focus and efficiency.
Commenting on the partnership, foundit CEO V Suresh said, “Jasprit Bumrah’s agility, accuracy, and dependability perfectly align with our mission to empower professionals in a dynamic job market. His stellar performances, including India’s World Cup triumph in 2024, make him an ideal representative for our brand.”
Foundit VP– marketing Anupama Bhimrajka added, “With 70 per cent of India’s jobseekers engaged in cricket, Bumrah’s influence resonates widely. His precision mirrors our commitment to matching candidates with the right opportunities through advanced AI technology.”
The campaign featuring Bumrah will roll out across multiple media platforms in the coming months, drawing parallels between his pinpoint accuracy on the field and foundit’s data-driven job search approach.
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.
