Flipkart Shifts Holding Company to India Ahead of Planned IPO
Walmart-owned Flipkart has moved its holding company from Singapore to India, the company announced on Monday, as it prepares for a potential stock market listing in the country. The shift follows approval from the Indian government for its internal restructuring and marks the completion of the company’s redomiciliation to India.
The move reflects a broader trend of Indian startups returning from overseas financial hubs such as Singapore, where many had previously established headquarters for easier access to capital and tax advantages. With stronger domestic capital markets and improved prospects for public listings, several firms are now choosing to relocate back to India.
Founded in 2007 as an online bookstore, Flipkart has grown into one of India’s largest e-commerce platforms, competing with Amazon. Walmart acquired a controlling stake in the company in 2018 for $16 billion. Flipkart was last valued at about $37 billion in 2024 when Google invested $350 million, and it is targeting a stock market debut in Mumbai before March 2027, according to a source familiar with the matter.
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