News:

Melt Update | 5 Nov | Public Investment Fund To Invest Rs 9555 Crore Into RRVL & MORE

Ritwika Gupta, November 5, 2020

In global news, Heineken has partnered with Publicis Groupe to launch a new creative agency model – Le Pub.

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Top Headlines:

1. Public Investment Fund To Invest Rs 9555 Crore Into RRVL

Reliance Industries Limited and Reliance Retail Ventures Limited have announced that The Public Investment Fund will invest Rs 9,555 crore for an equity stake of 2.04% into RRVL, a subsidiary of Reliance Industries. As reported by exchange4media, this investment values RRVL at a pre-money equity value of Rs 4.587 lakh crore. The investment in RRVL follows PIF’s earlier acquisition of a 2.32% stake in Jio Platforms, the digital services subsidiary of Reliance Industries.

2. Paytm is the official Umpire Sponsor of Women’s T20 Challenge 2020

Paytm has announced its association with the Board of Control for Cricket in India (BCCI) as Umpire Sponsor of the 2020 edition of the Women’s T20 Challenge, as noted by exchange4media. In addition to IPL, Paytm is also the Home Series Title Sponsor for India Cricket till 2023.

3. WPP Regional Director, APAC, Stuart Neish Retires

WPP Regional Director for the Asia Pacific, Stuart Neish has announced his retirement from the company. According to brandinginasia, Neish took the Regional Director role back in 2005. Prior to that, he held management positions at Y&R, Wunderman, and J Walter Thompson.

4. Heineken Partners with Publicis Group To Launch ‘Le Pub’

Heineken has partnered with Publicis Groupe to launch a new creative agency model – Le Pub. As per adweek, the agency will combine teams across Milan and Amsterdam, integrating creativity with the data and tech of Epsilon and Publicis Sapient. Le Pub will be headquartered in Amsterdam with a new creative space that will open its doors on the 1st of January 2021.

5. Porsche India Appoints Debosmita Majumder as Head of Marketing, PR, CRM

Puma India’s associate director and head of marketing Debosmita Majumder has moved on from the company. She now joins Porsche India as head of marketing, PR, CRM Porsche India, Skoda Volkswagen Group. According to afaqs, Majumdar has earlier worked with Sony Six and Kix, MSL India and Genesis Burson-Marsteller.