Flipkart plans $10B IPO in India
Flipkart, owned by Walmart, is prepping to invite banks for IPO pitches this April.
The company is looking to raise $8 billion to $10 billion and could list in Mumbai as soon as late 2026 or early 2027.
Most of the offer will come from Walmart (which owns 85%) and Tencent (stake not specified), combining new shares with existing ones.
Flipkart's journey to becoming India's biggest e-commerce platform
Started in Bengaluru back in 2007, Flipkart has become India's biggest e-commerce platform: think over 500 million users and more than 150 million products across 80-plus categories.
It also runs Myntra (fashion), Cleartrip (travel), and Ekart Logistics, reaching over 22,000 PIN codes.
Last year alone, Flipkart pulled in ₹83,105 crore in revenue and now sits at a valuation between $36 billion to $70 billion.
What's next for Flipkart?
Flipkart just shifted its base from Singapore to India this March, a key step before going public.
Big names like Goldman Sachs and Morgan Stanley are expected to join the IPO process, and regulatory approvals relating to the restructuring and foreign-investor rules have been part of the process.