Flipkart preparing for an IPO, aims to boost valuation
Flipkart, owned by Walmart, is preparing for a public listing, with timelines reported variably (no specific year given in the source) after moving its headquarters from Singapore to India.
The company wants to raise $8 billion to $10 billion (₹67,000 crore to ₹83,000 crore) and is aiming to boost its valuation.
Flipkart is India's biggest online shopping platform
Flipkart is India's biggest online shopping platform, serving over 500 million users with more than 150 million products across electronics, fashion, groceries, and more.
Walmart owns about 85% of Flipkart
Big investment banks like Goldman Sachs and J.P. Morgan have held early discussions with Flipkart regarding a potential IPO.
Walmart owns about 85% of Flipkart, while investors include Tencent.
Recently, Flipkart brought back Nishant Verman as senior vice president for corporate development and received tribunal approval for the reverse flip and is pursuing remaining regulatory clearances.