Flipkart gets NCLT nod for merger ahead of IPO
Flipkart just got the green light from India's NCLT to merge eight of its Singapore-based companies into Flipkart Internet Private Limited.
This move is all about making things simpler and more efficient before Flipkart's big IPO, which is expected soon.
What does Flipkart actually do?
Starting out as an online bookstore in Bengaluru, Flipkart has grown into one of India's leading e-commerce platforms. It runs Myntra for fashion and Ekart for deliveries.
The company was valued at $35-36 billion after a major funding round, including a $350 million boost from Google.
Walmart owns more than 80% of Flipkart, with other names like Microsoft, SoftBank, Canada Pension Plan, and Tencent also holding stakes.
What's next for the merger?
Flipkart still needs approval from Singapore courts and some regulatory clearances because of Tencent's involvement.
Once done, everything will be under one roof in India—making it easier to manage and setting up Flipkart for a smoother IPO journey.