Brands
Kokuyo Camlin beautifies Pune station
MUMBAI: More than 200 artists and art students from across Pune were roped in by Kokuyo Camlin Limited in an initiative with the Central Railway to paint certain designated sections at the historic Pune Railway Station. Keeping up with its legacy of popularizing art among the masses, Kokuyo Camlin joined hands with Central Railway to beautify Pune Railway Station.
Kokuyo Camlin is in the business of marketing and selling of art materials and stationery products under flagship brands ‘Camel’ and ‘Camlin’ which have been in existence for more than 80 years.
The artists and art students painted art and personalities on the theme of Pune’s glorious and rich heritage. These works of art were created on 11-12 March, 2017. These beautiful paintings were unveiled at a glittering function at the Pune Railway Station today and were graced by senior Railway authorities. Malojiraje Chhatrapati, Honorary Secretary – All India Shri Shivaji Memorial Societies, was the chief guest for the occasion.
The young budding artists from various art institutions showcased their creativity in specially designated rooms including the `Ladies’ and `First Class Waiting Rooms’. Adding to the grandeur were 4 large paintings created and put up at the main entrance lobby of the station so that the common man can see and enjoy these works of art.
Kokuyo Camlin chief marketing officer Saumitra Prasad said, “Kokuyo Camlin has always supported efforts to promote art and take it to the people. So when Central Railway authorities came up with this idea of adding an aesthetic touch to Pune Railway Station, we thought this was a great opportunity to not only support this cause but also help in the design, development and implementation of this initiative. We are extremely thrilled with the results and our association with Central Railway.”
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.
