Flipkart IPO likely in 12-15 months, plans to shift domicile to India ahead of listing, says report
Flipkart, India's largest e-commerce firm, valued at $36 billion, is set for an IPO within 12-15 months. The Walmart-owned company has moved its domicile from Singapore to India and aims for a public share sale by the end of 2025.
Online retailer Flipkart plans to publicly list within 12-15 months time, according to an Economic Times report citing multiple sources. Valued at $36 billion, the Walmart-owned company is India's largest e-commerce platform.
It added that the proposed initial public offering (IPO) would be the biggest of its kind among India's new-economy companies. Sources told the paper that the company has secured internal approvals to shift its domicile from Singapore to India ahead of the listing, which is targeted for Q1FY26.
The report said Flipkart did not respond to queries on the matter.
Plans Long Formed, Say Sources
“The process has begun, and there is a clear understanding that in this timeline, the company should be public,” one source said. The report added that plans for the IPO have been under discussion since 2021 but were put on hold due to “adverse market conditions” in FY23. It cited sources say that the success of recent start-up IPOs moved plans ahead.
Notably, Flipkart has raised close to $1 billion in funding in 2024. The report added that Walmart's acquisition of the e-tailer in 2018 also presupposed an IPO in the future. The US retail giant, which owns a majority stake of 81 per cent in Flipkart, has invested more than $2 billion in primary capital in the e-commerce giant since 2018, including $600 million in 2024.
Industry Overview
One source highlighted global listing successes such as Coupang in South Korea, adding that the public markets are "rewarding large internet businesses" that have growth and profits.
According to analysts' estimates, the Indian e-commerce industry gained ₹1 lakh crore gross in sales during December 2024, with Flipkart maintaining its space as the top choice for online shopping, the report added.
At November-end, Flipkart and other e-tailers announced offers and deep discounts for Black Friday and saw buzzing response.
Catch all the Business News , Corporate news , Breaking News Events and Latest News Updates on Live Mint. Download The Mint News App to get Daily Market Updates.
Business NewsCompaniesNewsFlipkart IPO likely in 12-15 months, plans to shift domicile to India ahead of listing, says report
First Published:9 Dec 2024, 11:42 AM IST
- Top Gainers
- Top Losers
- 52 Week High