Flipkart Intends to Move Domicile From Singapore to India

E-commerce giant Flipkart intends to move its parent company or domicile from Singapore to India, according to a media source. By doing this, it will join many late-stage businesses that intend to return to India in the coming months.

Relocating to India is part of their intention to eventually pursue an initial public offering (IPO), as reported by The Economic Times.

Read also - Mahindra & Mahindra and Ministry of Skill Development and Entrepreneurship (MSDE) Sign MOU for Drone Didi Yojana

The Singapore-based parent company, Flipkart Pvt Ltd, has several divisions in India that handle its payments, logistics, marketplace, and other e-commerce verticals.

At a $37.6 billion value, Flipkart got $3.6 billion in July 2021, led by SoftBank. After the company split from PhonePe, its valuation was revised to $33 billion.

About Flipkart

Flipkart is a part of the Walmart-owned Flipkart Group, which also includes group companies Flipkart Wholesale, Flipkart Health+, Cleartrip, and Myntra.

Want to go deeper into the world of startups and entrepreneurship? Check out these categories on VIESTORIES:

Startup Success Stories: Discover inspiring tales of startups overcoming challenges and achieving success.

Funding Startup News: Stay updated with the latest news and trends in startup funding and investment.

Startup Insights: Dive into in-depth analyses of various industries and market trends to make informed business decisions.