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5d ago

Flipkart to Relocate Headquarters to India as IPO Plans Take Shape

The Walmart-owned e-commerce giant prepares for a domestic public listing next year, aligning its corporate structure with its operational base.

Packages in a cart at a Flipkart Internet Pvt. warehouse in Koduvalli, Thiruvallur, in the outskirts of Chennai, India, on Wednesday. Sept. 22, 2021. Walmart-backed e-commerce giant Flipkart added 115,000 jobs this Diwali holiday sales season, up from 70,000 in 2020 and 50,000 in 2019. hotographer: Anindito Mukherjee/Bloomberg via Getty Images
Smartphone with Flipkart logo is seen in front of displayed Indian flag in this illustration taken, July 30, 2021. REUTERS/Dado Ruvic/Illustration/File Photo
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Overview

  • Flipkart has announced plans to move its headquarters from Singapore back to India, pending regulatory approvals, as it prepares for an IPO on Indian stock exchanges in 2026.
  • The company described the move as a 'natural evolution,' aligning its holding structure with its core operations and the potential of India's growing digital economy.
  • Flipkart originally relocated to Singapore in 2011 to attract foreign capital, benefit from tax advantages, and navigate regulatory challenges.
  • This decision follows a $350 million investment from Google in 2023, which valued Flipkart at $36 billion, and reflects growing investor confidence in India's capital markets.
  • The relocation mirrors a trend among Indian startups, including Zepto, Groww, and PhonePe, which have also shifted their headquarters to India to capitalize on favorable valuations ahead of public listings.