IPO-bound Flipkart shifts domicile from Singapore to India
What's the story
Flipkart, the Walmart-owned e-commerce giant, has officially changed its domicile from Singapore to India, according to The Economic Times. The move comes after receiving approvals from the National Company Law Tribunal (NCLT) and the central government under Press Note 3 rules. The decision paves the way for Flipkart's India listing plans and discussions with merchant bankers.
Approval process
NCLT approved Flipkart's domicile shift in December
The NCLT approved Flipkart's domicile shift in December, but the company was waiting for central government approval under Press Note 3 rules. Now that these approvals are in place, Flipkart can officially move ahead with its plans to list in India. The company is also gearing up to file its draft prospectus later this year.
Benefits
Why listing at home matters?
Flipkart's plan to shift its domicile from Singapore to India mirrors a broader trend among major Indian tech firms that were earlier incorporated overseas but are now moving their headquarters and shareholding structures back home. The aim is to tap deeper domestic capital markets and streamline regulatory compliance ahead of public listings. The company's management had previously said the move will help align more closely with Indian investors while offering greater regulatory clarity and simpler governance.