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.
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.
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