India’s e-commerce company Flipkart is planning an IPO and has decided to move its holding company from Singapore to India.
Walmart-backed Flipkart plans to enter the Indian market
According to Reuters, the company said in a released statement, “This move represents a natural evolution, aligning our holding structure with our core operations.” If sources are to be believed, Walmart-backed Flipkart plans to enter the Indian market on Dalal Street.
Flipkart Board had already approved the decision to shift the holding company
As per reports, sources say that the Flipkart board had already approved the decision to shift the holding company to Delhi in a board meeting in Singapore.
The public listing move is a major boost for the industry and would be viewed as a success for the Startup ecosystem in India. The news of public listing came last December and Flipkart had set a deadline of 12-15 months.
Flipkart started its restructuring process
According to documents submitted to the company registrar. The company has started its restructuring process. When the Economic Times asked a company official, he affirmed that the company is shifting its holding company from Singapore to India.
Major boost for startups
In May 2024, the ET reported that Flipkart had completed a funding round of $1 billion and it received an investment from Google’s Alphabet of $350 million.
Several companies are returning to India. Fantasy sports platform Dream 11 shifted its base from the United States to India at the beginning of this year.
