Walmart’s Flipkart shifts base to India ahead of IPO
Walmart’s Indian e-commerce firm Flipkart has moved its holding company from Singapore to India, paving the way for its planned stock market listing in the country. The move marks a major milestone in Flipkart’s “redomiciliation” process, approved by the Indian government.
Founded in 2007 as an online bookstore, Flipkart has grown into one of India’s largest e-commerce platforms, competing directly with Amazon, News.Az reports, citing Reuters.
Walmart acquired a controlling stake in the company in 2018 for $16 billion, and in 2024, Flipkart was valued at around $37 billion when Google bought a $350 million minority stake.
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The shift back to India follows a trend of startups returning from foreign financial hubs, like Singapore, attracted by better IPO prospects at home. Flipkart aims to list in Mumbai before March 2027, though the company has yet to finalize the IPO size or valuation.
By Aysel Mammadzada
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