In a strategic move signaling its commitment to the Indian market, Flipkart, the Walmart-backed e-commerce giant, announced plans to relocate its holding company from Singapore to India.
This decision aligns with Flipkart’s preparations for a domestic initial public offering (IPO), anticipated by late 2025 or early 2026.
“This move represents a natural evolution, aligning our holding structure with our core operations,” Flipkart stated, emphasizing the intent to streamline regulatory processes and enhance operational synergy within India.
Founded in 2007 and relocated to Singapore in 2011, Flipkart’s return to India mirrors a broader trend among Indian startups re-establishing their base domestically to capitalize on favorable IPO conditions.
This shift follows a similar transition by PhonePe, Flipkart’s former subsidiary, which moved its headquarters back to India in 2022.
The redomiciling is expected to not only facilitate Flipkart’s IPO process but also potentially yield significant tax benefits for the Indian government.
Walmart, which acquired a controlling stake in Flipkart in 2018, holds an 85% share in the company and is actively exploring IPO timelines for both Flipkart and PhonePe.
As Flipkart navigates this transition, it joins a growing list of Indian startups, including Razorpay, Pine Labs, Zepto, and InMobi, that are shifting their domiciles back to India to align with operational bases and leverage the country’s evolving regulatory landscape.
With a current valuation of approximately $36 billion, Flipkart’s anticipated IPO is poised to be one of the most significant in India’s e-commerce sector, marking a pivotal moment in the company’s growth trajectory.
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