Flipkart CFO Sriram Venkataraman steps down ahead of IPO
Flipkart's longtime CFO, Sriram Venkataraman, is stepping down just as the company gears up for a blockbuster IPO.
The Walmart-owned e-commerce giant is aiming to raise $8 billion to $10 billion; reported valuation estimates vary — roughly $36 billion in some reports and up to $60-70 billion in others, with its public debut expected in 2027.
Nishant Verman has come on board as senior vice president to help steer things during this big transition.
Flipkart's IPO plans and preparations
Started by Sachin and Binny Bansal, Flipkart has grown into India's top online shopping platform with more than 500 million users.
The company wants to use its IPO funds to boost delivery networks and expand grocery services.
Big-name banks like Goldman Sachs and J.P. Morgan are helping out, and Flipkart recently shifted its holding company back to India and is planning to consolidate several Singapore-based entities into its Indian operating entity.
Walmart's stake and upcoming listing
Walmart owns roughly 85% of Flipkart. There's also talk of Walmart selling some of its stake during the IPO.
All eyes are on 2027 for major updates as Flipkart preps for one of India's biggest tech listings yet.