Flipkart Moves Parent Company to India Ahead of Planned Initial Public Offering

Flipkart Completes R domiciliation to India, Paving Way for Stock Market Listing

Flipkart, the Indian e-commerce firm owned by Walmart, has successfully shifted its holding company to India from Singapore, a move that paves the way for its planned stock market listing in the country.

The company has received approval from the Indian government for its internal restructuring and has completed its "redomiciliation" to India, marking a significant milestone. Flipkart was founded in 2007 and has since expanded into a major player in the Indian e-commerce market, competing with Amazon.com Inc.

Flipkart's holding company was initially moved to Singapore in 2011, a common practice among Indian startups at the time seeking better access to capital and smaller tax bills. However, with the growth of the Indian economy and improved IPO prospects, many companies are now returning to their home country.

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As part of its restructuring, Flipkart has been valued at around $37 billion as of 2024, when Alphabet's Google acquired a $350 million minority stake in the company. Walmart acquired a controlling stake in Flipkart in 2018 for $16 billion. The company is now aiming to list in Mumbai before March 2027, although it has yet to confirm its valuation and IPO size.