Flipkart Gears for IPO with New Plans to Shift Base to India

flipkart, India’s largest e-commerce platform valued at $36 billion is preparing for an initial public offering (IPO) within the next 12 to 15 months, according to a report by The Economic Times. 

This IPO could mark one of India’s most significant listings by a new age company highlighting the country’s growing prominence as a global startup hub.

The Walmart-owned company has received internal approvals to relocate its domicile from Singapore to India, a key step toward the IPO. The public offering is expected to take place by the end of 2025 or early 2026.

This move comes after successful IPOs by companies like Zomato, nykaa, and Swiggy, which have driven investor interest in consumer internet firms. Flipkart also raised nearly $1 billion in 2024, including $350 million from google. 

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Additionally, the company expanded into quick commerce with the launch of 'Minutes' for fast deliveries, and myntra introduced a 30-minute delivery service called M-Now.

Relocating its holding company to India aligns with Flipkart's long term strategy following similar moves by companies like PhonePe and Zepto which have embraced the benefits of domestic listings. This shift is driven by favorable valuations and a growing investor base.

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Walmart, which acquired Flipkart for $16 billion in 2018 and holds an 81% stake, remains confident in Flipkart’s potential. The retail giant has invested over $2 billion in Flipkart since its acquisition, with the IPO seen as a key step in unlocking the platform’s full value.

Flipkart’s evolution from a 2007 online bookstore to a dominant e-commerce leader reflects the rapid growth of India’s e-commerce sector, which saw Rs 1 trillion in sales during the 2024 festive season. Flipkart is also expanding into payments, advertising, and fast deliveries, further diversifying its business.

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