MAM
Viviana Mall turns Seven!
Viviana Mall, a well-known ‘destination mall’, to celebrate its seven years of providing a recreation space to the public has organised a week-long activities and events on the social media.
The celebration commenced from June 22, with daily activities to beat the lockdown blues right from room decoration and cake baking workshops to make up sessions by the renowned makeup artists from Colorbar.
There are various competitions also lined up, the winners in these events will win prizes and offers from Viviana Mall. Keeping in mind the 7years of completion, the mall will be uploading a post on its Instagram that appeals to their customers to comment and share ‘7 things they love at Viviana Mall’. Based on the same, customers commenting 1st, 7th, 77th, 777th and 7777th on the post will be announced as the winners of this competition.
Commenting on the occasion, Ms. Rima Kirtikar, Chief Marketing Officer, Viviana Mall said, “Since the day of the inauguration, we have come a long way and we continue to be young with not only turning seven, but also with our activities that we conducted at the mall and now the same has moved on the digital platforms. As we approach closer to reopening of economic activities, including malls, we have already prepared ourselves to with several precautionary measures to provide a safer shopping experience. We can comfortably say that all of our stakeholders right from shoppers, retailers, support staff and the mall is taking #EkNayaKadam by stepping into mall’s eight year and in this post-Covid world.”
Taking a new step in organising parties, Viviana Mall has organized a virtual party for their loyalty club customers on the Anniversary Day, June 27. For everyone, on the celebration day, there will be a live band performance on mall’s social media pages.
“Our customers and retail partners are the pillar of support and part of the Viviana Mall’s success story. As we take #EkNayaKadam, we are confident that our stakeholders will continue to be part of the journey for the years to come. The same is also reflected in one of the recent surveys that we had commissioned wherein 56% of our visitors would come to Viviana Mall within a month of reopening. Additionally, if given an option, over 60% would prefer booking their visit. We can glad to share that all safety arrangements are in place and we are ready to reopen the mall within 24 hours of notice to welcome our customers,” said Mr. Manoj K. Agarwal, Chief Executive Officer, Viviana Mall.
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.
