Flipkart to shift base to India to launch IPO?

Walmart-owned e-comm platform Flipkart is reportedly gearing up to launch its Initial Public Offering (IPO) in 12-15 months.

According to a news report, the company has set the process in motion by changing its domicile from Singapore to India and is planning to go public by 2025 end or early 2026.

The decision to relocate domicile to India aligns with Flipkart’s plan to centre its operations in the Indian market and meet regulatory requirements for domestic listing. The move could mean significant tax windfall for the Indian government, said the report.

2018, Walmart acquired a 77% stake in Flipkart for $16 billion, making it the majority owner. This acquisition marked Walmart's significant entry into the Indian e-commerce market. Since then, Walmart has increased its stake, further strengthening its investment in Flipkart.

Flipkart has raised significant funding this year, including contributions from Google, and is focusing on profitability to strengthen its IPO readiness. The company is following in the footsteps of recent Indian consumer-focused IPOs like Nykaa, Zomato and Swiggy.