Flipkart gets NCLT nod for merger, clears path for IPO
Flipkart just got a major go-ahead from India's NCLT to merge its Singapore-based arms into Flipkart Internet in Bengaluru—a key move for an IPO possibly in late 2026 or early 2027.
The merger kicks in from December 2025, clearing the path for Flipkart to list at home.
Flipkart aims to raise $8-10 billion in IPO
Flipkart is aiming to raise $8-10 billion through its IPO, targeting a massive $60-70 billion valuation.
Walmart, which is the majority shareholder, is the majority shareholder; IPO proceeds are expected to be used to fortify supply chains and expand into grocery and quick commerce, and the offering may include both fresh issuance and secondary sales.
Over 500 million users and 1.4 million sellers
Launched in 2007, Flipkart is one of India's top e-commerce players with over 500 million users and more than 1.4 million sellers offering around 150 million products.
Its group includes Myntra, Flipkart Wholesale, Cleartrip, and super.money.
Flipkart's ongoing restructuring and other developments
Ahead of the IPO, Flipkart is restructuring—absorbing Myntra Holdings and others into its core business, with Flipkart Internet set to control logistics arm Ekart.
It's also seeking regulatory approval for Tencent's stake and recently saw PhonePe (another Walmart company) get Sebi approval for an IPO; PhonePe had earlier filed draft papers to raise around ₹12,000 crore via an offer-for-sale.