Flipkart to relocate HQ to India ahead of IPO


Flipkart, the Walmart-owned Indian e-commerce startup that closely fights Amazon in the South Asian market, is preparing to shift its headquarters back to India from Singapore as the company prepares to file for an IPO on Indian stock exchanges.

On Monday, Flipkart said the move “represents a natural evolution, aligning our holding structure with our core operations, the vast potential of the Indian economy.”

The e-commerce giant, which started its operations in 2007 in Bengaluru, moved its headquarters to Singapore in 2011 to attract more foreign investments, benefit from tax advantages, and better navigate bureaucratic hurdles and political challenges in India.

“As a company born and nurtured in India, this transition will further enhance our focus and agility in serving our customers, sellers, partners, and communities to continue contributing to the nation’s growing digital economy and entrepreneurship,” a Flipkart spokesperson said in a statement.

The relocation is subject to requisite approvals, the startup said, without disclosing a specific timeline. However, Flipkart is expected to file for an IPO in the country sometime next year.

In 2022, Walmart-backed PhonePe, which split from Flipkart in late 2022, moved its headquarters to India from Singapore. Several other startups, including Zepto and Groww, have also relocated their headquarters to India in the last few months as they sought public listings on the Indian stock exchanges.

However, India’s current public market environment is not as appealing as it had been up until late last year, as the market is going through some corrections and is impacted by macro conditions. IPOs made up around $19 billion of the record $70 billion equity deal volume reached in India last year, with 11 IPOs priced at above $500 million, per a report by Goldman Sachs.

Nonetheless, investors are optimistic about the growth potential in the Indian market, as several companies are waiting to go public this year and next.

“The supportive valuation environment has spurred issuer activity. A lot of the unicorns who were thinking of going public in the U.S. switched to India because they felt India supported a better valuation,” said Sudarshan Ramakrishnan, co-head of India investment banking at Goldman Sachs.

The latest move by Flipkart also comes almost a year after raising $350 million from Google as part of a nearly $1 billion funding round, which it kicked off in 2023. The startup was valued at $36 billion in the last investment.



  • Related Posts

    Bluesky will begin verifying ‘notable’ users
    • May 22, 2025

    Bluesky on Thursday quietly opened the doors to those who want to become verified on its social networking service. In a post published by the Bluesky Safety account, the company…

    Continue reading
    Spotify says support for external payments on iOS has already boosted subscriptions
    • May 21, 2025

    Spotify says its ability to direct its customers to external payment links in its iOS app has already had a positive impact on sales. In a newly filed amicus brief…

    Continue reading

    Random News

    G7 vows to address global economic ‘imbalances’, considers Russia sanctions | Russia-Ukraine war News

    • By gonews
    • May 22, 2025
    • 1 views
    G7 vows to address global economic ‘imbalances’, considers Russia sanctions | Russia-Ukraine war News

    Bluesky will begin verifying ‘notable’ users

    • By gonews
    • May 22, 2025
    • 1 views
    Bluesky will begin verifying ‘notable’ users

    McLaren Ace Snatches Pole From Verstappen Amid High-Drama Qualifying

    • By gonews
    • May 22, 2025
    • 1 views
    McLaren Ace Snatches Pole From Verstappen Amid High-Drama Qualifying

    Italy-Israel Defense Agreement: Italian Lawyers File Complaint

    • By gonews
    • May 22, 2025
    • 1 views
    Italy-Israel Defense Agreement: Italian Lawyers File Complaint

    Stocks swing to a flat close as bond yields spike on U.S. debt worries

    • By gonews
    • May 22, 2025
    • 1 views
    Stocks swing to a flat close as bond yields spike on U.S. debt worries

    Nicole Brown Simpson’s Sister Compares Diddy Trial to O.J. Simpson Case

    • By gonews
    • May 22, 2025
    • 2 views
    Nicole Brown Simpson’s Sister Compares Diddy Trial to O.J. Simpson Case