Flipkart seeks up to $2.5B ahead of planned IPO
Flipkart, India's Walmart-owned e-commerce giant, is planning to raise up to $2.5 billion before its big IPO push.
After Google's $350 million investment in 2024, CEO Kalyan Krishnamurthy has been traveling to places such as Singapore, the US and London to chat with potential investors.
The final call will rest with Walmart, which still holds more than 80% of Flipkart.
Flipkart courting Goldman Sachs, Axis Bank
Talks are on with major players such as Goldman Sachs and Axis Bank for this funding round.
The fresh funds could boost Flipkart's valuation and set the stage for an IPO over the next 12-18 months.
Plus, it might help expand services such as Flipkart Minutes (their speedy delivery) and keep them competitive against Amazon.
Financially, things are looking up too: Flipkart cut its losses last year while growing revenue by more than 14%, hinting at bigger plans ahead.