IPO-bound Flipkart Gets Board’s Nod To Shift Domicile To India

The board of flipkart, India’s biggest ecommerce company, has decided to move the company's base or domicile from Singapore to India, according to people familiar with the matter. 

This move comes as the Walmart-owned firm prepares to launch its IPO in India by 2026.

Flipkart’s public listing is expected to be one of the biggest among new-age companies and will be a major moment for India’s startup scene, which grew significantly thanks to Flipkart’s success.

“Flipkart’s board has approved the plan to flip back when they met last week in Singapore…the process will now kick off,” a person in the know said.

“This strategic decision reflects our deep and unwavering commitment to India and its remarkable growth… This move represents a natural evolution, aligning our holding structure with our core operations, the vast potential of the Indian economy and our technology and innovation-driven capabilities to foster digital transformation in India,” the spokesperson added.

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In India, the company operates its ecommerce platform through Flipkart Internet Pvt Ltd. Other parts of the business, like payments, logistics and fashion platform myntra, are managed by different units.

As per official filings, Flipkart Internet Pvt Ltd has started restructuring its finances as part of this shift.

By moving back to India, Flipkart joins a growing list of startups doing the same. dream11, a fantasy sports app, shifted its base from the US to India earlier this year using a new fast-track process — becoming the first to do so.

Others like Zepto, Pine Labs, groww, PhonePe, and Kreditbee have already redomiciled to India, while companies such as meesho, Razorpay, Eruditus, udaan and Khatabook are also in the process of doing so.

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