Flipkart said to plan IPO, move HQ to India

Flipkart, a leading ecommerce company in India, is preparing for an IPO within the next 12 to 15 months, according to sources familiar with the matter.

The Walmart-owned company aims to complete the process by late 2024 or early 2025.

In preparation for the IPO, Flipkart has reportedly received internal approvals to shift its domicile from Singapore to India.

The IPO is expected to be pivotal for India’s startup ecosystem, placing Flipkart alongside recently listed consumer internet firms such as Zomato and Nykaa.

Recent Flipkart developments

Timeline
01-Dec-2024 🚀 Flipkart to expand delivery service to more Indian cities Flipkart expands quick delivery to more cities. Service currently piloted in Delhi, Mumbai, Bengaluru.
25-Nov-2024 🚀 Flipkart co-founder leaves PhonePe board Binny Bansal resigns from PhonePe’s board. Manish Sabharwal appointed as independent director.
11-Apr-2024 📈 Flipkart co-founder’s consulting startup grows revenue 3x in FYE March 2023 Xto10x’s revenue surged to US$14M for 2023 Consultancy services income rose to US$13.2M
05-Apr-2024 💰 Flipkart co-founder seeks $400m for fintech startup Navi: report Sachin Bansal seeks $200M-$400M for Navi Navi’s banking application denied by Reserve Bank of India
02-Jan-2024 🌍 Flipkart’s Binny Bansal launches OppDoor to help ecommerce firms go global Binny Bansal launches startup OppDoor Aims to help ecommerce firms expand globally

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