MAM
Mindscapes One Ideas signs a joint venture agreement with DEFI
MUMBAI: Mindscapes One Ideas has roped in DEFI group and have signed an exclusive agency JV agreement with equal share holding pattern and launching DEFI groups’ services in India as DEFI-Mindscapes.
The statement issued said, “We would like to change the OOH skyline of India and bring in the international standards spectacular OOH signs in India and encourage more of corporate brand building than just product campaign , we will also be adding glitz to the product campaign through OOH with international communication and visual technologies. We will launching our first project in Mumbai and then slowly move to the other cities of India.”
DEFI also pioneered in city architectural planning for OOH standardisation which helps the local municipal corporation to increase its advertising revenue without making the city look clutter and ugly and maintain the esthetic value.
The company will be working hand on hand with all existing OOH media owners of each city along with the city planners and city councils and try to bring the city skyline to the international standards.
“We also have the most advanced and the biggest corporate signage factory of our own under our sister concern DBS in Beijing and will initially produce all our signs over there and import it for installation but within an year we plan to open our 2nd state of the art factory in India which will mainly cater to our clients in India, Russia, Sri Lanka, Middle East, part of east Europe and African continent,” the statement continued.
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.
