Flipkart, India’s e-commerce giant, is gearing up to hit the stock market with an initial public offering (IPO) in the next 12 to 15 months. With a valuation of a substantial $36 billion, the Walmart-owned company is actively pursuing this goal.
Among these, it’s planning to shift its headquarters from Singapore to India, a strategic move to align with local regulations and prepare for a listing on India’s stock exchange. The Economic Times reported that they could launch the IPO by late 2025 or early 2026.
This development signals a major milestone in Flipkart’s journey, which began as a humble startup 17 years ago. Now, the company aims to consolidate its position as a market leader while tapping into India’s growing e-commerce sector.
Relocating base to smooth the listing process
Flipkart’s decision to move its base back to India is more than symbolic—it’s a calculated step to streamline the IPO process. Currently, Flipkart Pvt Ltd operates out of Singapore, managing several Indian subsidiaries that oversee key operations like logistics, payments, and its marketplace. By relocating, the company aims to simplify regulatory compliance and better align its operations with the Indian market.
This domicile shift could also translate into a significant tax benefit for the Indian government, providing a win-win scenario as Flipkart takes its first steps toward going public.
Walmart’s IPO playbook
Walmart, which bought a majority stake in Flipkart for $16 billion in 2018, has been planning and preparing for its IPO strategy for quite some time now. Earlier this year, the retail giant indicated that it was actively evaluating the right time to list both Flipkart and PhonePe, its digital payments arm. While both businesses are thriving, the retail giant informed analysts that Flipkart remains the more mature of the two, making it a strong contender for an IPO debut.
However, some reports suggest PhonePe might beat Flipkart to the market. Walmart’s cautious approach underscores the significant risks it faces as it manages the timing and market conditions.
Riding the wave of India’s e-commerce boom
The IPO plans come at a time when India’s e-commerce sector is experiencing explosive growth. Competing fiercely with Amazon and other domestic players, Flipkart has been at the forefront of this digital transformation.
A public listing will not only be a historic milestone for the company but could also reshape India’s tech landscape, offering global investors a slice of one of the fastest-growing e-commerce markets in the world.
