2024-12-09 11:42:23 :
Online retailer Flipkart plans to go public within 12 to 15 months, the Economic Times reported, citing multiple sources. The Walmart-owned company is valued at $36 billion and is India’s largest e-commerce platform.
The proposed initial public offering (IPO) will be the largest of its kind by a new economy company in India, it added. Sources told the newspaper that the company has received internal approval to move its domicile from Singapore to India ahead of the listing, which it aims to do in the first quarter of fiscal 2026.
Flipkart did not respond to queries regarding the matter, the report said.
Sources say plans have already been made
“The process has begun and it is clear to everyone that within this timetable the company should go public,” a source said. The report added that IPO plans have been under discussion since 2021, but due to the financial year 2023 ” were put on hold due to adverse market conditions. Sources said the plans have been boosted by the success of recent startup IPOs.
Notably, Flipkart has raised nearly $1 billion in funding in 2024. Walmart’s acquisition of the e-tailer in 2018 also foreshadowed future IPOs, the report added.
One source highlighted the success of global listings such as South Korea’s Coupang, adding that public markets are “rewarding large internet businesses with growth and profits”.
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