Bengaluru, India – Flipkart, an e-commerce company owned by Walmart, has recently unveiled that it will relocate its holding company from Singapore to India, following the parent company’s plan to file for an initial public offering on Indian stock exchanges.
A recent statement from a Flipkart spokesperson said that the initiative aligns with their broader operational strategy. It also signals the company’s continued focus on India, further strengthening its roots in one of its most important markets.
“We are inspired by the Government of India’s strong vision and proactive initiatives in fostering a thriving business environment and ease of doing business, which have significantly shaped our journey,” the e-commerce firm’s spokesperson continued.
Though said move is still subject to requisite approvals, it also coincides with the growing speculation about its plans for a public listing in India sometime next year.
Speaking about the relocation plans, the spokesperson also added, “This move represents a natural evolution, aligning our holding structure with our core operations, the vast potential of the Indian economy and our technology and innovation-driven capabilities to foster digital transformation in India.”
Flipkart was founded in 2007 by IIT alumni Sachin Bansal and Binny Bansal as an online bookshop. Its success further led to a landmark acquisition by Walmart in 2018, with the U.S. retail giant investing US$16b in a deal that valued the company at nearly US$20b.
The company’s recent relocation move reflects a larger movement among Indian startups realigning their structures to support local IPO ambitions, as seen with firms like PhonePe, Zepto, and Groww.
