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4mo ago

Flipkart to Relocate Headquarters to India in Preparation for IPO

The Walmart-owned e-commerce giant announces plans to shift its holding company from Singapore to India, aligning with its operational base and targeting a public listing next year.

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 officially announced its decision to move its holding company domicile from Singapore to India, marking a key step toward its planned IPO on Indian stock exchanges in 2026.
  • The company describes the relocation as a natural progression to align its corporate structure with its core operations and India's growing digital economy.
  • The move is part of a broader trend of Indian startups, such as PhonePe and Zepto, returning to India to leverage favorable IPO valuations and regulatory conditions.
  • Flipkart's relocation and IPO plans follow significant funding milestones, including a $350 million investment by Google in 2023, which valued the company at $36 billion.
  • The transition is pending regulatory approvals, with no specific timeline disclosed, as Flipkart aims to strengthen its governance and operational framework ahead of its public listing.