MAM
NeoNiche partners DG7 for omnichannel experience
MUMBAI: NeoNiche Integrated, an award-winning, experiential marketing company, has entered into a strategic partnership with DG7, a full-service digital agency that specialises in providing B2B digital marketing solutions. Through this partnership, both NeoNiche and DG7 are expecting to extend an enriched omnichannel experience to a wide range of their clientele in the B2B domain. This strategic partnership will help more than 300 brands currently catered between the two organisations.
Speaking on this partnership, NeoNiche Integrated Solutions founder and CEO Prateek N Kumar said, “We are elated about this collaboration, as it is in line with one of our key objectives of offering best-in-class experiential marketing services in an omnichannel environment. This will help our clients create memorable and measurable campaigns across different touch points for all their stakeholders.”
DG7 founder and CEO Amit Deshmukh shared, “Today, in the age of urbanisation, digital marketing is not just a means to an end; it is a vital business enabler. Through our association with NeoNiche, we are scripting together a truly Phygital partnership wherein NeoNiche brings in their expertise of providing brand activation and campaign-oriented solutions. DG7 would complement the same with both, the width and depth of digital avenues to amplify these efforts. This, we believe, will result in absolute value for clients, and help them achieve their business objectives more cohesively.”
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.
