MAM
LMG Kolkata wins three media accounts
MUMBAI: Lintas Media Group, Kolkata has won the media duties of Bengal Shriram Hi-Tech City and Srei Infrastructure.
Also, National Jute Board has reappointed Lowe Lintas, Kolkata to handle its creative duties and Lintas Media Group, Kolkata to handle the media duties.
The agency’s billing through these wins makes a total of Rs 500 million.
All the accounts were bagged following multi-agency pitches. The pitch for National Jute Board account also involved JWT and PerceptH.
National Jute Board had invited a pitch on the expiry of its three year contract with Lowe Lintas. This new appointment is also for a period of three years.
The agency mandate includes promoting Indian Jute and jute products in the Indian and International markets. The specific products identified for the next round of the campaign include Jute Geo Textiles, Jute Handicrafts, Jute Yarn, Jute Furnishings and Jute Shopping bags.
A combination of different media channels will be put into play including press, TV, radio, Internet along with exhibitions, email marketing as well as CRM programmes.
Lintas Media Group SVP Mahesh Motwani says, “At Lintas Media Group we practice the principle of deliver more, and that is exactly what we do with our existing clients and we will replicate this with our coveted new clients.”
The account for Srei Infrastructure moves from Motivator, who handled the company’s media duties for a short period of time.
Srei Infrastructure corporate communication and brand management VP and head Braj Kishore said, “During Lintas Media Group’s (LMG) last association with us, we found Lintas team to have understood the holistic infrastructure business model of Srei and the media mix required to communicate this unique model to its key stakeholders. LMG’s task becomes very critical in evolving a strategic media fit to fulfil this task and they are best suited to deliver this.”
The mandate for LMG will be to work out an optimal media strategy targeting key opinion leaders of the country to position Srei as one of the oldest, one of the largest, one of most innovative, Integrated Infrastructure Institution.
The infrastructure company is also expecting the LMG team to use the existing as well as creating new media properties to drive home the positioning of Srei.
Meanwhile, Bengal Shriram Hi-Tech City SEZ assistant vice president Raghav Vohra stated, “The fact that Lintas Media Group ranked second among the media ranking order and their successful media approaches to prominent brands made us choose LMG as our media partner. We look forward to communicate this message to the entire community together and are confident of having a long term association with them.”
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.
